EPR PROPERTIES — Director's Dealing 2011

May 13, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ENTERTAINMENT PROPERTIES TRUST (EPR)
CIK: 0001045450
Period of Report: 2011-05-11

Reporting Person: OLSON JIM (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-11	Common Shares of Beneficial Interest	J	0	—	Acquired	11233	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-11	Restricted Share Units	$	A	1256	Acquired		Common Shares of Beneficial Interest (1256)	Direct
2011-05-11	Restricted Share Units	$	A	785	Acquired		Common Shares of Beneficial Interest (785)	Direct
2011-05-11	Option to Purchase Common Shares of Beneficial Interest	$47.77	A	1355	Acquired	2021-05-11	Common Shares of Beneficial Interest (1355)	Direct

Footnotes

F1: These shares have already been reported and do not reflect any change.

F2: Restricted Share Units were issued to Reporting Person in lieu of the Reporting Person's Annual Trustee Retainer fee. Each Restricted Share Unit represents a contingent right to receive one common share of beneficial interest.

F3: All shares are payable upon termination of service.

F4: Restricted Share Units were issued to the Reporting Person pursuant to Company's Equity Incentive Plan. Each Restricted Share Unit represents a contingent right to receive one common share of beneficial interest.

F5: Option to Purchase Shares were issued to the Reporting Person pursuant to Company's Equity Incentive Plan.