Archstone-Smith Celebrates the Grand Opening of
Archstone San Bruno Luxury Apartment Residences

Mayor Franzella, San Bruno Chamber of Commerce Hail
Exciting New Apartment Community

San Bruno, Calif. – May 10, 2007 – Archstone-Smith, one of the nation's largest apartment companies, today announced that the City of San Bruno and San Bruno Chamber of Commerce officially introduced the city's newest luxury apartment residences yesterday with the ribbon cutting celebration. Business, political and community leaders attended the event, showcasing Archstone San Bruno's spectacular brand-new apartments and upscale amenities.

"The City of San Bruno is extremely pleased with the caliber of project that Archstone San Bruno has brought to the city," said San Bruno Mayor Larry Franzella. "This project was developed to be the showplace that it is today with years of effort by all involved, including a vote from the citizens of San Bruno allowing an increased height limit. It is truly a project we can all be proud of."

"The San Bruno Chamber of Commerce is excited to welcome the beautiful new apartments at Archstone San Bruno to the City," added Danna M. Stephens, president, San Bruno Chamber of Commerce. "This was a perfect use of the land – what an ideal place to live, work and shop!"

Completed in April, Archstone San Bruno's one-, two-, and three-bedroom apartments include granite countertops, 9-foot ceilings and a private patio/balcony. Residents also enjoy full access to The Club, a two-story, 8,000-square-foot community recreation center that includes two state-of-the-art fitness centers, conference room, business center, theater room, library, lounge, and pool/spa. Archstone San Bruno is ideal for individuals looking to rent an apartment with a garage or who are looking for a pet-friendly apartment rental.

The community is located in the heart of the San Francisco Peninsula, minutes from the San Francisco Airport, Interstate 380, Interstate 280 and Highway 101, and is within walking distance to the San Bruno BART station, providing immediate access to downtown San Francisco and the East Bay. In addition, the community is located across the street from 1.1 million square feet of high-quality retail space in The Shops at Tanforan and just 10 minutes from Union Square, San Francisco's premier retail district with restaurants, art galleries, boutiques and upscale retailers.

"Together with the city of San Bruno, a fantastic partner in this project, Archstone-Smith is proud to bring an exciting new residential community to the San Francisco Bay Area, giving residents the best of city living at the doorstep of the Bay," said Shane Clark, vice president, Archstone-Smith.

At Archstone San Bruno, convenience and customer service are the top priorities. As with every Archstone community, residents of Archstone San Bruno enjoy the Archstone Seal of ServiceTM, which includes:

• Online Lease – Prospective residents can visit ArchstoneApartments.com to view real-time pricing and availability, select a floor plan, complete an application and lease apartments online – all in about 15 minutes.
• Flexible Lease Terms – At Archstone San Bruno, residents pick the length of lease that works best for them, from two to 12 months.
• Exclusive access to our Resident Services Web Site – Through this resident-only web site, residents can pay rent online, submit and track service requests, take part in periodic satisfaction surveys and more.
• 100% Move-in Satisfaction Guarantee – If not completely satisfied for any reason, residents can move out of their apartment without penalty within the first 30 days of their lease, no questions asked.
• 1-Day Service Guarantee – All service requests will be responded to within 24 hours, guaranteed.
• The Relocation Guarantee– If a resident needs to move, for any reason, the company will help find him/her another Archstone-Smith apartment from coast to coast.
• The Customer Service Connection – The only national call center in apartments is available for residents to share their comments, concerns and ideas.

For more information about Archstone San Bruno – including real-time pricing and availability – visit www.ArchstoneSanBruno.com.

Archstone-Smith (NYSE: ASN), an S&P 500 company, is a recognized leader in apartment investment and operations. With a current total market capitalization of $19.2 billion, the company's portfolio is concentrated in many of the most desirable neighborhoods in the Washington, D.C. metropolitan area, Southern California,  the New York City metropolitan area, the San Francisco Bay Area, Seattle and Boston. As of March 31, 2007, the company owned or had an ownership position in 344 communities, representing 86,014 units, including units under construction. In addition to Archstone San Bruno, Archstone now has 21 communities in the San Francisco Bay Area, all backed by the Archstone Seal of Service.

Archstone-Smith's archived press releases are available on its web site at www.ArchstoneSmith.com or may be obtained by calling 800-982-9293.

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