ANL Amer Land Lease

American Land Lease, Inc. Declares Fourth Quarter Dividend and Announces Fourth Quarter Earnings Conference Call CLEARWATER, Fla., Jan. 26 /PRNewswire-FirstCall/ -- American Land Lease, Inc. (NYSE:ANL) today announced that its Board of Directors declared a regular fourth quarter dividend of $0.25 per share payable on February 28, 2005 to stockholders of record on February 14, 2005. The Company will not offer reinvestment of the fourth quarter dividend through the dividend reinvestment plan. The Board of Directors reviews the dividend policy quarterly. The Company's dividend is set quarterly and is subject to change or elimination at any time. The Company's primary financial objective is to maximize long-term, risk-adjusted returns on investment for stockholders. While the dividend policy is considered within the context of this objective, maintenance of past dividend levels is not a primary investment objective of the Company and the dividend policy is subject to numerous factors, including the Company's profitability, capital expenditure plans, obligations related to principal payments and capitalized interest, and the availability of debt and equity capital at terms deemed attractive by the Company to finance these expenditures. The Company's net operating loss may be used to offset all or a portion of its real estate investment trust ("REIT") taxable income, which may allow the Company to reduce or eliminate its dividends and still maintain its REIT status. Management will hold a teleconference call, Monday, February 14, 2005 at 4:00 p.m. Eastern Standard Time to discuss fourth quarter 2004 results. You can participate in the conference call by dialing, toll-free, (800) 374-5458 approximately five minutes before the conference call is scheduled to begin and indicating that you wish to join the American Land Lease fourth quarter 2004 results conference call. If you are unable to participate at the scheduled time, this information will be available for recorded playback from 5:30 p.m. EST, February 14, 2005 until midnight on February 21, 2005. To access the replay, dial toll free, (800) 642-1687 and request information from conference ID 3720446. DATASOURCE: American Land Lease, Inc. CONTACT: Robert G. Blatz, President, or Shannon E. Smith, Chief Financial Officer, both of American Land Lease, Inc., +1-727-726-8868 Web site: http://www.americanlandlease.com/

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