KOGER EQUITY, INC.
                                                  225 NE MIZNER BLVD., SUITE 200
                                                       BOCA RATON, FLORIDA 33432

[KOGER LOGO]

                                                                            NEWS



FOR IMMEDIATE RELEASE

                    KOGER EQUITY, INC. ANNOUNCES NAME CHANGE
                             TO CRT PROPERTIES, INC.

BOCA RATON, FLORIDA--June 23, 2004--Koger Equity, Inc. (NYSE: KE) today
announced a name change to CRT Properties, Inc. (NYSE:CRO). The name change was
approved at the Company's annual meeting in Boca Raton on June 3, 2004 and is
expected to be effective on or about July 1, 2004. After the effective date of
the name change, the Company's common stock will trade under the symbol "CRO".

As CRT Properties, the Company will continue its strategy of acquiring and
developing dominant Class A office properties in major markets in the
southeastern United States and Texas, specifically Atlanta, Dallas, Houston,
South Florida and suburban Washington, DC. The Company's portfolio currently
encompasses 10.4 million square feet of well-located, high-quality commercial
office space.

"Koger has evolved into a new company over the past three years, with a new
management team, improved portfolio and a well-focused investment strategy,"
said CEO Thomas J. Crocker. The Company adopted the CRT name because it has been
synonymous with successful Class A office properties in the Southeast - the core
of Koger's portfolio today.

Crocker joined Koger in 2000 after leading Crocker Realty Trust, Inc., known as
CRT, a privately owned office REIT, which sold the remainder of its assets in
August 2003. Since joining Koger, Crocker and his team of former CRT senior
executives have repositioned Koger's portfolio, starting in December 2001 when
the Company sold more than $300 million of non-core properties. Since that time
the Company has acquired interests in more than $480 million of Class A office
buildings.

"We have concentrated our efforts on acquiring under-performing but well-located
`trophy' properties that can be purchased below replacement cost," said Crocker.
"Additionally we target in-fill locations with irreplaceable transportation
access, proximity to desirable housing stock and other retail and cultural
amenities." He concluded, "By purchasing at a discount, then utilizing our
leasing and management expertise to improve occupancies and operating margins,
we can generate significant additional earnings and long-term value for our
shareholders."



ABOUT KOGER EQUITY, INC.

Koger Equity, Inc., owns or has interests in 132 office buildings, containing
10.4 million rentable square feet, located primarily in 20 suburban office
projects and two urban centers in 12 metropolitan areas in the southeastern
United States, Texas and Maryland. For more information, contact its website at
WWW.KOGER.COM or Investor Relations, 225 NE Mizner Boulevard, Suite 200, Boca
Raton, Florida 33432-3945, or call 1-800-850-2037.

CONTACT:   Investor Relations
           Thomas C. Brockwell, Executive Vice President
           1-800-850-2037