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CLEVELAND, June 2, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Associated Estates Realty Corporation (NYSE: AEC) today announced that it plans to list its shares on NASDAQ, in addition to its current listing on the NYSE. AEC will be the first real estate investment trust (REIT) to "dual list" its shares. The Company's officer team plans to participate in the Opening Bell Ceremony at NASDAQ on June 5, 2008 to kick-off the first day that AEC is listed on NASDAQ.
"We believe that listing on NASDAQ will provide enhanced visibility for AEC," said Jeffrey I. Friedman, president and CEO. "NASDAQ will provide us with valuable additional market intelligence, investor relations and corporate communications benefits at a lower cost," Friedman added.
The Company's common shares will be listed under the ticker symbol AEC, while the preferred shares will be listed under AECPRB.
Associated Estates Realty Corporation (AEC), based in Richmond Heights, Ohio, is a real estate investment trust ("REIT") and is a member of the Russell 2000. AEC's portfolio consists of 54 properties totaling 13,396 units in nine states. For more information about the Company, please visit its website at www.aecrealty.com .
For more information:
Media Contact:
Kimberly Kanary
Vice President of Corporate Communications
216-797-8718
kkanary@aecrealty.com
Investor Contact:
Mike Lawson
Vice President of Investor Relations
216-797-8798
mlawson@aecrealty.com
SOURCE Associated Estates Realty Corporation
http://www.aecrealty.com
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