Rent.com is an website that serves the apartment and rentalhousing industry. eBay, the giant Internet auction house, plans topay $30 million in cash, with the remainder in its stock forRent.com in the first quarter of 2005.

If the closing occurs with no material change in the price ofeBay's stock, Archstone-Smith would receive approximately $25million of eBay common stock. If Archstone-Smith were to sell itseBay shares following the closing, again assuming no materialchange in the price, the company would record a gain in itsearnings and funds from operations of approximately $0.11 pershare. If the so-called "Christmas rally," continues in the stockmarket, Archstone-Smith conceivably could make even more money.

Separately, Archstone-Smith is reiterating its previous 2005same-store revenue growth guidance of 3.5% to 4.0%. The companyalso estimates 2005 same-store expense growth estimate of 3.0% to4% and a net operating income growth estimate of 3.3% to 4.3%.