UDR, Inc. — Director's Dealing 2003

Dec 12, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED DOMINION REALTY TRUST INC (UDR)
CIK: 0000074208
Period of Report: 2003-12-10

Reporting Person: WOOD MARK E (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-10	Common Stock	M	7500	$9.875	Acquired	43689	Direct
2003-12-10	Common Stock	S	7500	$18.9105	Disposed	36189	Direct
2003-12-10	Common Stock	S	735	$18.91	Disposed	35454	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-10	Stock Options (Right to buy)	$9.875	M	7500	Disposed	2010-12-05	Common Stock (7500)	Direct

Footnotes

F1: This transaction was done pursuant to a cashless exercise of options.