SAN FRANCISCO, Jan. 14 /PRNewswire-FirstCall/ -- BRE Properties, Inc. (NYSE: BRE) today announced the 2008 dividend tax status of its distributions to shareholders. The 2008 distribution classifications are:





    Common Shares Distribution:

                                  Cash          Taxable
     Record      Payment      Distribution     Ordinary      Qualifying
      Date         Date         Per Share      Dividend       Dividends
    03/14/08     03/31/08       $0.562500      $0.157253      $0.000000
    06/13/08     06/30/08       $0.562500      $0.157253      $0.000000
    09/15/08     09/30/08       $0.562500      $0.157253      $0.000000
    12/15/08     12/31/08       $0.562500      $0.157253      $0.000000
                   Total:       $2.250000      $0.629012      $0.000000
              Percentage:            100%        27.956%         0.000%


                                             Capital Gains

     Record      Payment           15%            25%         Return of
      Date         Date          Capital     Capital Gain      Capital
    03/14/08     03/31/08       $0.292127      $0.113120      $0.000000
    06/13/08     06/30/08       $0.292127      $0.113120      $0.000000
    09/15/08     09/30/08       $0.292127      $0.113120      $0.000000
    12/15/08     12/31/08       $0.292127      $0.113120      $0.000000
                   Total:       $1.168508      $0.452480      $0.000000
              Percentage:         51.934%        20.110%         0.000%



    Series C Preferred Distribution:

                                  Cash          Taxable
     Record      Payment      Distribution     Ordinary      Qualifying
      Date         Date         Per Share      Dividend       Dividends
    03/14/08     03/31/08       $0.421875      $0.117940      $0.000000
    06/13/08     06/30/08       $0.421875      $0.117940      $0.000000
    09/15/08     09/30/08       $0.421875      $0.117940      $0.000000
    12/15/08     12/31/08       $0.421875      $0.117940      $0.000000
                   Total:       $1.687500      $0.471760      $0.000000
              Percentage:            100%        27.956%         0.000%


                                             Capital Gains

     Record      Payment           15%            25%         Return of
      Date         Date          Capital     Capital Gain      Capital
    03/14/08     03/31/08       $0.219095      $0.084840      $0.000000
    06/13/08     06/30/08       $0.219095      $0.084840      $0.000000
    09/15/08     09/30/08       $0.219095      $0.084840      $0.000000
    12/15/08     12/31/08       $0.219095      $0.084840      $0.000000
                   Total:       $0.876380      $0.339360      $0.000000
              Percentage:         51.934%        20.110%         0.000%



    Series D Preferred Distribution:

                                   Cash         Taxable
     Record      Payment       Distribution    Ordinary      Qualifying
      Date         Date         Per Share      Dividend       Dividends
    03/14/08     03/31/08       $0.421875      $0.117940      $0.000000
    06/13/08     06/30/08       $0.421875      $0.117940      $0.000000
    09/15/08     09/30/08       $0.421875      $0.117940      $0.000000
    12/15/08     12/31/08       $0.421875      $0.117940      $0.000000
                   Total:       $1.687500      $0.471760      $0.000000
              Percentage:            100%        27.956%         0.000%


                                             Capital Gains

     Record      Payment           15%             25%        Return of
      Date         Date          Capital     Capital Gain      Capital
    03/14/08     03/31/08       $0.219095      $0.084840      $0.000000
    06/13/08     06/30/08       $0.219095      $0.084840      $0.000000
    09/15/08     09/30/08       $0.219095      $0.084840      $0.000000
    12/15/08     12/31/08       $0.219095      $0.084840      $0.000000
                   Total:       $0.876380      $0.339360      $0.000000
              Percentage:         51.934%        20.110%         0.000%

BNY Mellon Shareowner Services LLC, BRE's transfer agent, will distribute copies of IRS Form 1099-DIV to 2008 shareholders of record of BRE's common and preferred stock. Shareholders who held BRE's stock in "street name" during 2008 will receive the form from their bank, brokerage or nominee. BRE recommends shareholders consult a tax professional to determine how distributions should be reported on state and federal tax forms.

About BRE Properties

BRE Properties -- a real estate investment trust -- develops, acquires and manages apartment communities convenient to its residents' work, shopping, entertainment and transit in supply-constrained Western U.S. markets. BRE directly owns and operates 75 apartment communities totaling 22,126 units in California, Arizona and Washington. The company currently has seven other properties in various stages of development and construction, totaling 2,077 units, and joint venture interests in 13 additional apartment communities, totaling 4,080 units. (Property data as of 09/30/08.)

SOURCE BRE Properties, Inc.