Aug 4 (Reuters) - Elme Communities ( ELME ):

* ELME COMMUNITIES CONCLUDES STRATEGIC ALTERNATIVES REVIEW

PROCESS; EXECUTES AGREEMENT TO SELL 19 PROPERTIES TO CORTLAND,

REMAINING ASSETS TO BE MARKETED FOR SALE

* ELME COMMUNITIES ( ELME ) - TO SELL 19 PROPERTIES TO CORTLAND FOR

$1.6

BILLION

* ELME COMMUNITIES ( ELME ) - PLANS DISTRIBUTIONS OF $14.68-$15.00

PER

SHARE

* ELME COMMUNITIES ( ELME ) - ESTIMATES ADDITIONAL DISTRIBUTIONS OF

$2.90-$3.50 PER SHARE

* ELME COMMUNITIES ( ELME ): INTENDS TO COMMENCE SALE OF ITS

REMAINING

ASSETS IN NEAR FUTURE WITH VIEW TOWARD COMPLETING ASSET SALES IN

NEXT 12 MONTH

* ELME COMMUNITIES ( ELME ): WITHDRAWING ITS PRIOR 2025 GUIDANCE AND

ASSUMPTIONS

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