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<SEC-DOCUMENT>0001104659-06-065313.txt : 20061006
<SEC-HEADER>0001104659-06-065313.hdr.sgml : 20061006
<ACCEPTANCE-DATETIME>20061005202132
ACCESSION NUMBER:		0001104659-06-065313
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20061004
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20061006
DATE AS OF CHANGE:		20061005

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UNITED DOMINION REALTY TRUST INC
		CENTRAL INDEX KEY:			0000074208
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				540857512
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10524
		FILM NUMBER:		061132299

	BUSINESS ADDRESS:	
		STREET 1:		400 EAST CARY STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23219-3802
		BUSINESS PHONE:		8047802691

	MAIL ADDRESS:	
		STREET 1:		400 EAST CARY STREET
		CITY:			RICHMOND
		STATE:			VA
		ZIP:			23219-3802

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLD DOMINION REAL ESTATE INVESTMENT TRUST
		DATE OF NAME CHANGE:	19850110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLD DOMINION REIT ONE
		DATE OF NAME CHANGE:	19770921

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OLD DOMINION REAL ESTATE INVESTMENT TRUS
		DATE OF NAME CHANGE:	19741216
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a06-20338_28k.htm
<DESCRIPTION>CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES
<TEXT>
<html>

<head>






</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><a name="scotch"></a></p> </div>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">WASHINGTON, DC 20549</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM 8-K</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
REPORT</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant
to Section 13 or 15(d) of the</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Securities Exchange Act of 1934</font></b></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">Date of Report (Date of earliest
event reported):&#160; <b>October 4,
2006</b></font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED DOMINION REALTY TRUST, INC.</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its
charter)</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>Maryland</b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1-10524</font></b></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">54-0857512</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction of</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File
  Number)</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">incorporation)</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:3.06%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification
  No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1745 Shea Center Drive, Suite 200, Highlands Ranch,
Colorado&#160; 80129</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)(Zip Code)</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone
number, including area code: <b>(720) 283-6120</b></font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions:</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font><font style="letter-spacing:-.15pt;">&#160;&#160; Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font><font style="letter-spacing:-.15pt;">&#160;&#160; Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font><font style="letter-spacing:-.15pt;">&#160;&#160; Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;letter-spacing:-.15pt;">o</font>&#160;&#160; Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))</p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div style="font-family:Times New Roman;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ITEM 8.01.&#160; Other Events.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On October 4,
2006, United Dominion Realty Trust, Inc. announced that it is offering $250
million aggregate principal amount of convertible senior notes due 2011, plus
an additional $37.5 million aggregate principal amount of notes that may be issued,
at the option of the initial purchasers, within 13 days.&#160; A copy of the press release relating to the
announcement is attached hereto as Exhibit 99.1 and is incorporated herein by
reference.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On October 5,
2006, United Dominion Realty Trust, Inc. announced that it has priced its $250
million aggregate principal amount of convertible senior notes due 2011 with a
coupon of 3.625%.&#160; An additional $37.5
million aggregate principal amount of notes may be purchased, at the option of
the initial purchasers, within 13 days.&#160;
A copy of the press release relating to the announcement is attached
hereto as Exhibit 99.2 and is incorporated herein by reference.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ITEM 9.01.&#160; Financial Statements and Exhibits.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d) Exhibits</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;">
 <tr style="page-break-inside:avoid;">
  <td width="87" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:65.0pt;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlHTMLTableCenter --><!-- SET mrlNoTableShading -->Exhibit No.</p>
  </td>
  <td width="42" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:31.5pt;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="485" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:363.5pt;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Description</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:65.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="42" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="485" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:363.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87" valign="top" style="padding:0pt .7pt 0pt 0pt;width:65.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="42" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="485" valign="top" style="padding:0pt .7pt 0pt 0pt;width:363.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release dated October 4,&nbsp;2006.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87" valign="top" style="padding:0pt .7pt 0pt 0pt;width:65.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="42" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="485" valign="top" style="padding:0pt .7pt 0pt 0pt;width:363.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87" valign="top" style="padding:0pt .7pt 0pt 0pt;width:65.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font></p>
  </td>
  <td width="42" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="485" valign="top" style="padding:0pt .7pt 0pt 0pt;width:363.5pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release dated October 5,&nbsp;2006.</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div style="font-family:Times New Roman;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p align="center" style="margin-left:0pt;margin-right:0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Signatures</font></b></p>

<p style="margin-left:0pt;margin-right:0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.62%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UNITED DOMINION REALTY TRUST, INC.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.62%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.62%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.62%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: October 5, 2006</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:48.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ David L. Messenger</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.62%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:48.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David L. Messenger</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.62%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:48.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President and Chief Accounting Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">3</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div style="font-family:Times New Roman;">
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p align="left" style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
INDEX</font></b></p>

<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:9.92%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlNoTableShading -->Exhibit No.</p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="85%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:85.12%;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Description</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="9%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:9.92%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="85%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:85.12%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="85%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:85.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release dated October 4,&nbsp;2006.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.92%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="85%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:85.12%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="9%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:9.92%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="85%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:85.12%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release dated October 5,&nbsp;2006.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div>
 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p align="right" style="font-weight:bold;letter-spacing:-1.5pt;line-height:normal;margin:12.0pt 0pt 12.0pt 9.35pt;page-break-after:avoid;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:0pt;">Exhibit
99.1</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="71%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:71.48%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><em style="font-style:normal;font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></em></p>
  </td>
  <td width="25%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.54%;">
  <p style="margin:0pt 0pt .0001pt;"><em style="font-style:normal;font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">For
  details contact:</font></b></em></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="71%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:71.48%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.54%;">
  <p style="margin:0pt 0pt .0001pt;"><em style="font-style:normal;font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Larry
  Thede</font></b></em></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="71%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:71.48%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.54%;">
  <p style="margin:0pt 0pt .0001pt;"><em style="font-style:normal;font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Phone
  (720)283-2450</font></b></em></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="71%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:71.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.54%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><em style="font-style:normal;font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">E-mail:</font></b></em><em style="font-style:normal;font-weight:bold;"><b><font face="Times New Roman"> ir@udrt.com</font></b></em></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="71%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:71.48%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:25.54%;">
  <p style="margin:0pt 0pt .0001pt;"><em style="font-style:normal;font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">www.udrt.com</font></b></em></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-weight:bold;"><img width="304" height="90" src="g203382mm01i001.jpg"></font></b></p>

<p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PRESS RELEASE</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">United
Dominion Realty Trust Announces Offering of $250<br>
Million of Convertible Senior Notes</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RICHMOND, VA (October 4, 2006) United
Dominion Realty Trust, Inc. (the &#147;Company&#148;) (NYSE: UDR) today announced that it
has commenced an offering, subject to market conditions and other factors, of
$250 million aggregate principal amount of convertible senior notes due 2011
(the &#147;notes&#148;), plus an additional $37.5 million aggregate principal amount of
notes that may be issued, at the option of the initial purchasers, within 13
days of the date on which the offering of the notes is priced. The notes will
be convertible into cash up to their principal amount and United Dominion
Realty Trust common shares in respect of the remainder, if any, of the
conversion value in excess of such principal amount.&#160; The interest rate, conversion rate and other
terms of the notes will be determined by negotiations between the Company and
the initial purchasers of the notes.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The notes will be sold to qualified
institutional buyers in accordance with Rule 144A under the Securities Act of
1933, as amended (the &#147;Securities Act&#148;). The notes and the shares of the
Company&#146;s common stock issuable upon conversion of the notes have not been
registered under the Securities Act, or any state securities laws, and unless
so registered, may not be offered or sold in the United States except pursuant
to an exemption from the registration requirements of the Securities Act and
applicable state laws. This announcement is neither an offer to sell nor a
solicitation to buy any of these securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer/solicitation or
sale is unlawful.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the offering of the notes,
the Company expects to enter into one or more capped call transactions with
affiliates of the initial purchasers of the notes (the &#147;option counterparties&#148;)
to substantially increase the effective conversion premium of the notes. The
capped call transactions are also intended to reduce the potential dilution
upon future conversion of the notes to the extent the then market value per
share of the Company&#146;s common stock does not exceed the cap price of the capped
call transactions during the observation period relating to a conversion.&#160; In connection with hedging the capped call
transactions, the option counterparties or their affiliates expect to enter
into various derivative transactions with respect to the Company&#146;s common stock
concurrently with or shortly after the pricing of the notes.&#160; In addition, following the pricing of the
notes, the option counterparties or their affiliates may enter into or unwind
various derivatives and/or purchase or sell the Company&#146;s common stock in
secondary market transactions, and are likely to do so during any observation
period relating to a conversion of notes.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The notes will be senior unsecured
obligations of the Company. The Company intends to use the net proceeds from
the offering for the repayment of indebtedness under its revolving credit
facility or for other general corporate purposes.&#160; The Company also expects to use a portion of
the net proceeds from the offering to fund the cost of the capped call
transaction.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About
United Dominion Realty Trust, Inc.</font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United Dominion is the fourth largest apartment REIT, owning and
operating apartment communities nationwide. The Company has raised the dividend
each of the last 30 years. United Dominion is included in the S&amp;P MidCap
400 Index. At June 30, 2006, the Company owned 74,753 apartment homes and had
1,357 homes under development. Additional information about United Dominion may
be found on its Web site at www.udrt.com.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.&#160;
You can identify these forward-looking statements by the Company&#146;s use
of words such as, &#147;expects,&#148; &#147;plans,&#148; &#147;estimates,&#148; &#147;projects,&#148; &#147;intends,&#148; &#147;believes,&#148;
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, difficulties in selling existing apartment communities, and other
risk factors discussed in documents filed by the Company with the Securities
and Exchange Commission from time to time including the Company&#146;s Annual Report
on Form 10-K and the Company&#146;s Quarterly Reports on Form 10-Q.&#160; 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.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p>
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 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
99.2</font></b></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 360.0pt;"><em style="font-style:normal;font-weight:bold;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">For details contact:<br>
Larry Thede<br>
Phone (720)283-2450<br>
E-mail: </font></b></em><em style="font-style:normal;font-weight:bold;"><b><font face="Times New Roman">ir@udrt.com<br>
</font></b></em><em style="font-style:normal;font-weight:bold;"><b><font face="Times New Roman" style="font-weight:normal;">www.udrt.com</font></b></em></p>

<p style="font-weight:bold;letter-spacing:-1.5pt;line-height:normal;margin:12.0pt 0pt;page-break-after:avoid;"><b><font size="7" face="Times New Roman"><img width="277" height="82" src="g203382moi001.gif"></font></b></p>

<p style="font-weight:bold;letter-spacing:-1.5pt;line-height:normal;margin:26.0pt 0pt 12.0pt;page-break-after:avoid;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">PRESS &#160;RELEASE</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">United
Dominion Realty Trust Announces<br>
Pricing of $250 Million of Convertible Senior Notes</font></b></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RICHMOND, VA (October 5, 2006) United Dominion Realty
Trust, Inc. (the &#147;Company&#148;) (NYSE: UDR) today announced that it has priced an
offering of $250 million aggregate principal amount of convertible senior notes
due 2011 with a coupon of 3.625% (the &#147;notes&#148;). &#160;An additional $37.5 million aggregate
principal amount of notes may be purchased, at the option of the initial
purchasers, within 13 days.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The notes are senior unsecured obligations of the
Company.&#160; The net proceeds from the
offering will be used for the repayment of indebtedness under the Company&#146;s revolving
credit facility, the cost of a capped call transaction or for other general
corporate purposes.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to July 15, 2011, upon the occurrence of
specified events, the notes will be convertible at the option of the holder
into cash and, in certain circumstances, shares of the Company&#146;s common stock
at an initial conversion rate of 26.6326 shares per $1,000 principal amount of
notes (which equates to an initial conversion price of approximately $37.55 per
share). &#160;On or after July 15, 2011, the
notes will be convertible at any time prior to the second business day prior to
maturity at the option of the holder into cash and, in certain circumstances,
shares of the Company&#146;s common stock at the above initial conversion rate. The
initial conversion rate is subject to adjustment in certain circumstances.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The notes will not be redeemable at the option of
the Company, except to preserve the status of the Company as a REIT.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Company undergoes certain change of control
transactions, note holders may require the Company to repurchase all or a
portion of their notes at a purchase price equal to the principal amount of the
notes to be repurchased plus unpaid interest (including additional interest, if
any) accrued on the repurchase date.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On October&nbsp;5, 2006, the closing sale price of the
Company&#146;s common stock as reported on the New York Stock Exchange was $31.29.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the offering, the Company has
entered into a capped call transaction with an affiliate of an initial
purchaser of the notes (the &#147;option counterparty&#148;) to increase the effective
conversion price of the notes to approximately $43.81 per common share, which
represents a conversion premium of approximately 40% based on the October&nbsp;5,
2006 closing price of $31.29 per common share.&#160;
The capped call transaction is expected to reduce the potential </font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='1',FILE='C:\fc\27817135983_D10695_1400977\20338-2-mo.htm',USER='jmsproofassembler',CD='Oct  5 17:01 2006' -->
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 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>


<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">dilution with respect to the Company&#146;s common stock upon
future conversion of the notes to the extent the then market value per share of
the Company&#146;s common stock does not exceed the cap price of the capped call
transaction during the observation period relating to such conversion.&#160; The net cost of the capped call transaction was
approximately $12.6&nbsp;million and will be accounted for as an effective
hedge through its maturity and included in the equity section of the Company&#146;s balance
sheet and therefore not included in interest expense.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with hedging the capped call transaction,
the option counterparty has advised the Company that it or its affiliates expect
to enter into, simultaneously with the pricing of the notes and may enter into
shortly after pricing, various derivative transactions with respect to the
Company&#146;s common stock.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, following pricing of the notes, the option
counterparty or its affiliates may enter into or unwind various derivatives
and/or purchase or sell the Company&#146;s common stock in secondary market
transactions, and are likely to do so during any observation period relating to
a conversion of notes.</font></p>

<p style="margin-left:0pt;margin-right:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The notes will be sold to qualified institutional
buyers in accordance with Rule 144A under the Securities Act of 1933. The notes
and the shares of common stock issuable upon conversion of the notes have not
been registered under the Securities Act, or any state securities laws, and
unless so registered, may not be offered or sold in the United States except
pursuant to an exemption from the registration requirements of the Securities
Act and applicable state laws. This announcement is neither an offer to sell
nor a solicitation to buy any of these securities and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such
offer/solicitation or sale is unlawful.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About
United Dominion Realty Trust, Inc.</font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United Dominion is the fourth largest apartment REIT, owning and
operating apartment communities nationwide. The Company has raised the dividend
each of the last 30 years. United Dominion is included in the S&amp;P MidCap
400 Index. At June 30, 2006, the Company owned 74,753 apartment homes and had
1,357 homes under development. Additional information about United Dominion may
be found on its Web site at www.udrt.com.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.&#160;
You can identify these forward-looking statements by the Company&#146;s use
of words such as, &#147;expects,&#148; &#147;plans,&#148; &#147;estimates,&#148; &#147;projects,&#148; &#147;intends,&#148; &#147;believes,&#148;
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, difficulties in selling existing apartment communities, and other
risk factors discussed in documents filed by the Company with the Securities
and Exchange Commission from time to time including the Company&#146;s Annual Report
on Form 10-K and the Company&#146;s Quarterly Reports on Form 10-Q.&#160; 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.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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