X0202 4 2004-12-31 0 0001156826 ARCHSTONE SMITH TRUST ASN 0001136856 HOLMES NED S 55 WAUGH DRIVE HOUSTON TX 77007 0 0 0 1 Trustee Common Shares of Beneficial Interest 2004-12-31 4 A 0 723 38.3 A 35900 D Common Shares of Beneficial Interest 2005-01-01 4 M 0 2860 38.3 A 38760 D Common Shares 9554 I See footnote 4 Dividend Equivalent Units 38.3 2005-01-01 4 A 0 1433 38.3 A 1988-08-08 1988-08-08 Common Shares 1433 6433 D Dividend Equivalent Unit 38.3 2005-01-01 4 M 0 2860 38.3 D 1988-08-08 1988-08-08 Common Shares 2860 3573 D Trustee fees deferred into share units pursuant to Issuer's Deferred Compensation Plan. Total direct includes 11,900 units in Issuer's Deferred Compensation Plan and 6,000 Restricted Share Units issued pursuant to Issuer's Equity Plan for Outside Trustees. Dividend Equivalent Units accrue on certain options and Restricted Stock Unit grants and vest at the same rate as the underlying grant. Upon settlement DEUs convert to shares of ASN common stock on a 1 to 1 basis and are valued at that time. DEUs have no expiration date. Total indirect includes 4000 in family limited partnership and 5554 held in trust for children. Erin McMahon, Attorney-in-Fact on behalf of Ned Holmes 2005-01-04