Exhibit 99

Koger Completes Acquisition of Two Dallas Properties

    BOCA RATON, Fla.--(BUSINESS WIRE)--Sept. 12, 2003--Koger Equity,
Inc. (NYSE:KE) today announced that it has completed its acquisition
of the Rosemeade Building and CIGNA Plaza in Dallas, Texas for $33.15
million in cash. These buildings were purchased from the State
Teachers Retirement System of Ohio, an unrelated third party. The
buildings encompass approximately 280,000 square feet of rentable
space and are currently 96% leased. Based on the in-place net
operating income, Koger purchased the properties at a capitalization
rate of approximately 13.4%. The Company financed the two properties
with proceeds from its recent preferred stock issuance.
    The Rosemeade Building is located at the intersection of the
George Bush Turnpike and the Dallas North Tollway in the highly
desirable Far North Dallas submarket. CIGNA Plaza is located at the
intersection of State Highway 114 and the George Bush Turnpike, in the
heart of Las Colinas and adjacent to the Dallas/Ft. Worth
International Airport.
    Estimates and certain other matters discussed in this press
release may be, forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Although Koger
Equity, Inc. believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions; there
can be no assurance that its expectations will be attained. Certain
factors that could cause actual results to differ materially from the
Company's expectations are set forth as risk factors in the company's
SEC reports and filings, including its annual report on Form 10-K.
Included among these factors are changes in general economic
conditions, including changes in the economic conditions affecting
industries in which its principal tenants compete; its ability to
timely lease or re-lease space at current or anticipated rents to
creditworthy tenants; its ability to achieve economies of scale over
time; the demand for tenant services beyond those traditionally
provided by landlords; changes in interest rates; changes in operating
costs; its ability to attract and retain high-quality personnel at a
reasonable cost in a highly competitive labor environment; future
demand for its debt and equity securities; its ability to refinance
its debt on reasonable terms at maturity; and its ability to complete
current and future development projects on schedule and on budget.
Many of these factors are beyond the Company's ability to control or
predict. Forward-looking statements are not guarantees of performance.
For forward-looking statements contained or incorporated by reference
herein, the Company claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events.
    Koger Equity, Inc. owns and operates 126 office buildings,
containing 9.21 million rentable square feet, primarily located within
18 suburban office projects in ten cities in the Southeastern United
States and Texas.
    Additional information about Koger is available upon request to
Investor Relations, 225 NE Mizner Blvd., Suite 200, Boca Raton,
Florida 33432-4079, or call 1-800-850-2037, or visit Koger's website
at www.koger.com.

    CONTACT: Koger Equity, Inc.
             Investor Relations:
             1-800-850-2037
             www.koger.com