UDR, Inc. — Director's Dealing 2004

Feb 5, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: UNITED DOMINION REALTY TRUST INC (UDR)
CIK: 0000074208
Period of Report: 2003-12-31

Reporting Person: SANDLER MARK J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-31	Common Stock	J	9646	—	Acquired	100736	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	20000	Indirect

Footnotes

F1: Shares acquired through Dividend Reinvestment