================================================================================


                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                              --------------------

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):

                               SEPTEMBER 20, 2005


                         ENTERTAINMENT PROPERTIES TRUST
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

          Maryland                      1-13561                  43-1790877
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)

          30 WEST PERSHING ROAD, SUITE 201, KANSAS CITY, MISSOURI 64108
          -------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                                 (816) 472-1700
               Registrant's telephone number, including area code:

                                 Not Applicable
          (Former name or former address if changed since last report)

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

     [ ]  Written communications pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)

     [ ]  Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act
          (17 CFR 240.14a-12)

     [ ]  Pre-commencement  communications pursuant to Rule 14d-2(b) under the
          Exchange Act (17 CFR 240.14d-2(b))

     [ ]  Pre-commencement  communications pursuant to Rule 13e-4(c) under the
          Exchange Act (17 CFR 240.13e-4(c))


================================================================================



ITEM 1.01       ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

     On September 20, 2005, we entered into an Employment Agreement with Mark A.
Peterson,  our Vice  President - Accounting  and  Administration.  A copy of the
Employment Agreement is attached as Exhibit 10.32 to this report.

ITEM 9.01       FINANCIAL STATEMENTS AND EXHIBITS

     (c) Exhibits

     Exhibit 10.32  Employment  Agreement  dated  September 20, 2005 between the
Company and Mark A. Peterson.


EXHIBIT NO.         DESCRIPTION OF EXHIBIT

10.32               Employment  Agreement  dated  September 20, 2005 between the
                    Company and Mark A. Peterson




                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.

                                         ENTERTAINMENT PROPERTIES TRUST

Dated:  September 21, 2005               By:/s/ Fred L. Kennon
                                            -------------------------------
                                            Fred L. Kennon
                                            Vice President, Treasurer and Chief
                                            Financial Officer