TEXT-Fitch rates ERP Operating LP snr unsecured notes ‘A-‘

(The following statement was released by the rating agency)

July 13 – Fitch Ratings has assigned an ‘A-‘ rating to the new $600 million
4.75% coupon rate senior unsecured notes due July 15, 2020 issued by ERP
Operating Limited Partnership, the operating partnership of Equity Residential
(NYSE: EQR).

The notes were priced at 99.237% of their face amount to yield 4.848% to
maturity. Net proceeds from the offering will be used to repay certain
indebtedness and for general corporate purposes. The Rating Outlook is
Negative.

For additional information, please refer to Fitch’s rating action
commentary ‘Fitch Expects to Rate ERP Operating L.P.’s Unsecured Notes ‘A-‘;
Outlook Negative’, dated July 12, 2010.

Headquartered in Chicago, Illinois, Equity Residential (EQR.N: ) is a company
focused on the acquisition, development and management of high quality
apartment properties in top U.S. growth markets. As of March 31, 2010, Equity
Residential owned or had investments in 491 properties totaling 136,470 units.

TEXT-Fitch rates ERP Operating LP snr unsecured notes ‘A-‘