UDR, Inc. — Director's Dealing 2003

Nov 20, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UNITED DOMINION REALTY TRUST INC (UDR)
CIK: 0000074208
Period of Report: 2003-11-19

Reporting Person: MCCANN JOHN P (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-19	Common Stock	M	15238	$13.125	Acquired	550737	Direct
2003-11-19	Common Stock	S	15238	$18.4	Disposed	535499	Direct
2003-11-19	Common Stock	G	1010	—	Disposed	534489	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-19	Stock Options (Right to buy)	$13.125	M	15238	Disposed	2004-12-13	Common Stock (15238)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	39500	Indirect

Footnotes

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