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EXHIBIT 99
KOGER EQUITY, INC.
8880 Freedom Crossing Trail
Jacksonville, Florida 32256
(904) 732-1000
[KOGER LOGO] NEWS
Koger Equity Announces Dividend and the Extension of its Shareholder Rights
Plan for an Additional 10 years through September 30, 2010
JACKSONVILLE, FLORIDA - August 17, 2000 -- Koger Equity, Inc. (NYSE:KE)
announced that the Board of Directors declared a quarterly dividend of $0.35 per
share to be paid on November 2, 2000, to shareholders of record on September 30,
2000.
In other action , the Board of Directors approved the extension of the Company's
Shareholder Rights Plan for an additional 10 years through September 30, 2010,
to protect the shareholders in the event of a hostile takeover.
Under the terms of the Plan (details of which are being filed with the
Securities and Exchange Commission), the rights which were originally
distributed to shareholders of record on October 11, 1990, trade together with
Koger Equity common stock and are not exercisable until the happening of certain
events, including acquisition of, or commencement of a tender offer for, 15
percent or more of the Company's common stock. In such event, each right
entitles its holder (other than the acquiring person or bidder) to acquire
additional shares of Koger Equity common stock at a 50 percent discount from the
market price. The rights are redeemable under circumstances as specified in the
Plan
Koger Equity is a Jacksonville, Florida-based real estate investment trust that
owns and operates properties in 13 southeastern and southwestern cities.
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