Associated Estates Realty Corporation (AEC) Chairman, President and CEO to Ring the NASDAQ Stock Market Opening Bell

First REIT to Dual List Its Shares On NASDAQ


ADVISORY, June 4, 2008 (PRIME NEWSWIRE) --



 What:
 Jeffrey I. Friedman, Chairman, President and CEO of Associated
 Estates Realty Corporation (AEC) will preside over the Opening Bell
 to celebrate the Company's dual listing on NASDAQ in addition to its
 current listing on the NYSE. AEC will be the first real estate
 investment trust (REIT) to "dual list" its shares.

 The Company's common shares will be listed under the ticker symbol
 AEC, while the preferred shares will be listed under AECPRB.

 Where:
 NASDAQ MarketSite -- 4 Times Square -- 43rd & Broadway -- Broadcast
 Studio

 When:
 Thursday, June 5 at 9:30 a.m. EDT

 Contacts:
 Kimberly Kanary
 Vice President of Corporate Communications
 216.797.8718
 kkanary@aecrealty.com

 NASDAQ MarketSite:
 
 Robert Madden
 646.441.5045
 Robert.Madden@NASDAQOMX.com

Feed Information:

The Opening Bell is available from 9:20 a.m. to 9:35 a.m. on Galaxy 26 -- uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Robert Madden at (646) 441-5045.

Radio Feed:

An audio transmission of the Opening Bell is also available from 9:20 a.m. to 9:35 a.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Waterfront fiber 1623 as well.

Webcast:

A live webcast of the NASDAQ Opening Bell will be available at: http://www.nasdaq.com/about/marketsitetowervideo.asx

Photos:

To obtain a hi-resolution photograph of the Opening Bell, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market open of your choice.

About Associated Estates Realty Corporation:

Associated Estates Realty Corporation (AEC), based in Richmond Heights, Ohio, is a real estate investment trust ("REIT") and is a member of the Russell 2000. AEC's portfolio consists of 54 properties totaling 13,396 units in nine states. For more information about the Company, please visit its website at www.aecrealty.com.