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                   American Community: Dividend News Release

                          News Release


FOR IMMEDIATE RELEASE                                   CONTACT
December 18, 1998                                       Edwin L. Kelly
                                                        (301) 843-8600


               AMERICAN COMMUNITY PROPERTIES TRUST
                        DECLARES DIVIDEND
                                
                                
     American Community Properties Trust (ACPT) (AMEX, PSE:APO),
a diversified real estate organization with holdings in
investment apartment properties, community development and asset
management in the United States and Puerto Rico, today announced
that the Board of Trustees has authorized a quarterly cash
dividend of $.05 per share on January 28, 1999 to shareholders of
record on December 31, 1998.
     The dividend is from American Rental Properties Trust
(ARPT), one of four subsidiaries of ACPT which owns all of the
U.S. apartment properties, and under REIT Qualifying Rules is
required to distribute 95 percent of taxable income. As a result
of the spin-off of ACPT on October 5, the taxable income for the
fourth quarter is from October 5, 1998 to December 31, 1998.
     The quarterly dividends payable from ACPT are determined
based on distribution from its four operating subsidiaries.  The
fourth quarter dividend may not be indicative of future
dividends.


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