ELS Announces Commencement of Common Stock Offering

Equity LifeStyle Properties ELS today announced that it has commenced an underwritten public offering of 5,250,000 shares of common stock. Goldman, Sachs & Co. is acting as lead book-running manager of the public offering. The Company expects to grant the underwriters a 30-day option to purchase up to 787,500 additional shares of common stock. The Company intends to use the net proceeds from this offering to pay a portion of the purchase price for its previously announced pending acquisition of a portfolio of 76 manufactured home communities containing 31,167 sites in 16 states (primarily located in Florida and the northeastern region of the United States) and certain other assets for a stated purchase price of $1.43 billion. As of March 31, 2011, Equity LifeStyle Properties, Inc. owns or has an interest in 307 properties in 27 states and British Columbia consisting of 111,004 sites. The Company is a self-administered, self-managed, real estate investment trust (REIT) with headquarters in Chicago.