AIMCO Launches At-The-Market Offering Program

AIMCO Launches At-The-Market Offering Program DENVER, CO - Apartment Investment and Management Company ("Aimco") (NYSE: AIV) today announced that it has created an At-The-Market ("ATM") offering program through which it could sell up to seven million shares of its Class A Common Stock. The shares would be offered through KeyBanc Capital Markets, BofA Merrill Lynch, and Wells Fargo Securities, who will be acting as sales agents.

"We are fortunate to have no immediate need to sell common shares, as our capital recycling program of selling non-core assets, together with cash flow from operations, continues to fund the cash requirements of our redevelopment and capital expenditure programs, as well as our planned delevering," said Terry Considine, Aimco's Chairman and Chief Executive Officer. "Putting in place the ATM, however, gives us flexibility to access quickly the equity markets to raise capital should there be, for example, an opportunity to fund additional accretive investments."

The ATM program allows Aimco to sell up to seven million shares from time to time through the sales agents. The sales, if any, would be made in "at the market" offerings as defined in Rule 415 of the Securities Act, including privately negotiated transactions.

Aimco has filed a shelf registration statement (including a prospectus and a prospectus supplement) with the SEC for the offering of Aimco's Class A Common Stock to which this communication relates. Before you invest, you should read the prospectus, including the related prospectus supplement, in that registration statement and other documents Aimco has filed with the SEC for more complete information about Aimco and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at Alternatively, Aimco or any of the sales agents participating in the offering will arrange to send you the prospectus, including the related prospectus supplement, if you request it by calling KeyBanc Capital Markets toll-free at (800) 859-1783, BofA Merrill Lynch toll-free at (866) 500-5408 or Wells Fargo Securities toll-free at (800) 326-5897.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of Aimco's Class A Common Stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

Aimco is a real estate investment trust that is focused on the ownership and management of apartment communities located in the 20 largest markets in the United States with average rents that are 100% – 125% of local market average rents. Aimco seeks to upgrade regularly the quality of its portfolio through the sale of its lowest rated communities and by reinvestment within its 20 target markets through redevelopment and acquisitions. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500.
Source: Apartment Investment and Management Company

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