DENVER, CO (REIT Media) March 3, 2008 - UDR, Inc. (NYSE: UDR) today announced that it completed the sale of 25,684 apartment homes in 86 communities for $1.7 billion to DRA Fund VI LLC in a joint venture with Steven D. Bell & Company. On January 29, 2008, the Company announced that it had entered into a contract for the portfolio sale.

“This sale transforms our apartment home portfolio into one with monthly rents approaching $1,200 per month, operating margins exceeding 68%, and an average age of 15 years,” stated Thomas W. Toomey, President and Chief Executive Officer. “Ninety percent of our portfolio is located in Pacific Coast, DC corridor and Florida markets. We will reinvest $500 to $800 million of the proceeds into communities that further strengthen our portfolio, primarily in West Coast and DC corridor markets. We expect to use the balance of the proceeds to reduce debt, repurchase shares and for a potential special dividend. These actions are consistent with our strategy and put us on the path to a prosperous future.”

Earnings Guidance

The Company’s guidance for full year 2008 FFO is $1.50 to $1.60 per share (diluted) and does not include any potential gains on sales from its RE³ subsidiary. All guidance is based on the current expectations and judgment of the Company’s management team. The Company believes that financial results for 2008 will be affected by international, national and regional economic trends and events, credit market volatility, the acquisition and/or disposition of apartment communities, portfolio repositioning, financing activities, and other factors.

About UDR, Inc.

UDR, Inc. (NYSE:UDR), an S&P 400 company, is a leading multifamily real estate investment trust (REIT) with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of March 3, 2008, UDR owned 40,226 apartment homes and had 6,184 homes under development and another 738 homes under contract for development in its pre-sale program. For over 30 years, UDR has delivered long-term value to shareholders, the best standard of service to residents, and the highest quality experience for associates. Additional information can be found on the Company’s website at www.udr.com.

Statements contained in this press release, which are not historical facts, are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the Company’s use of words such as, “expects,” “plans,” “estimates,” “projects,” “intends,” “believes,” and similar expressions that do not relate to historical matters. Such forward-looking statements are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated, due to a number of factors, which include, but are not limited to, unfavorable changes in the apartment market, changing economic conditions, the impact of competition and competitive pricing, acquisitions or new developments not achieving anticipated results, delays in completing developments and lease-ups on schedule, expectations on job growth, home affordability and demand/supply ratio for multi-family housing, expectations concerning redevelopment activities, expectations on occupancy levels, expectations concerning the benefits of the fourth quarter, 2007 restructure charge, expectations regarding the $1.7 billion portfolio sale, expectations concerning the Texas joint venture, expectations that automation will help grow net operating income, expectations on post-renovated stabilized annual operating income, exceptions on annualized net operating income, and other risk factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time including the Company's Annual Report on Form 10-K and the Company's Quarterly Reports on Form 10-Q. All forward-looking statements in this press release are made as of today, based upon information known to management as of the date hereof. The Company assumes no obligation to update or revise any of its forward-looking statements even if experience or future changes show that indicated results or events will not be realized.

UDR, Inc.
Larry Thede, 720-283-2450
ir@udr.com
www.udr.com