UDR, Inc. (“UDR”) has announced a Special Dividend valued at $0.97. UDR Stockholders will have the ability to elect to receive the special dividend in the form of cash or additional UDR shares. The cash or stock election must be received prior to 5:00 p.m. (EDT) on January 20, 2009.The payable date is January 29, 2009. The NYSE has set Friday, December 5, 2008 as the ex-distribution date for this distribution.

This corporate action will be coordinated with the Options Clearing Corporation. 

If you have any questions regarding the information provided in the document, please call CME Clearing risk management hotline at (312) 648-3888.

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