X0201 42003-12-310 0001156826 ARCHSTONE SMITH TRUST ASN 0001136856 HOLMES NED S 9200 E. PANORAMA CIRCLE SUITE 400 ENGLEWOOD CO 80112 0001TrusteeCommon Shares of Beneficial Interest2003-12-314A063227.98A21622DCommon Shares of Beneficial Interest9554ISee footnote.Dividend Equivalent Units02004-01-024A0114227.98A1988-08-081988-08-08Common Shares11423351DTrustee fees deferred into shares units pursuant to Issuer's Deferred Compensation Plan.Total direct includes ,9,622 units in Issuer's Deferred Compenation Plan and 4,000 Restricted Share Units issued pursuant to Issuer's Equity Plan for Outside Trustees.Total indirect includes 4,000 in family limited partnership and 5,554 held in trust for children.Dividend Equivalent Units accrue on certain option 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.Erin McMahon, Attorney-in-Fact on behalf of Ned Holmes2004-01-02