AIMCO Now on S&P 500

"The entire AIMCO team of 7,500 colleagues is proud of AIMCO's inclusion in the S&P 500 after eight years as a public company," says Terry Considine, chairman and CEO of AIMCO. "The listing gives AIMCO important recognition for its past success as well as for its future prospects," he says. "Through continued enhancement of AIMCO's existing properties, investment in local communities and service to residents, we will work hard to build on this achievement."

AIMCO's interests include more than 318,000 apartments, located in approximately 1,790 communities in 47 states, the District of Columbia and Puerto Rico.

In celebration of the S&P 500 listing, AIMCO is launching a "$500 for 500" leasing event to provide a $500 discount on the first full month's rent to the first 500 approved lease applicants between now and now and Monday.

"We anticipate that being named to the S&P 500 will open other doors for AIMCO," says Paul McAuliffe, CFO for AIMCO. "We are looking forward to serving a more diversified group of investors and hope to benefit from potentially higher liquidity. Our direction for 2003 is unchanged: AIMCO will focus on improving its $11 billion balance sheet and financial ratios through property sales, refinancing and preferred stock redemptions. AIMCO currently has no plans to issue additional equity."

The S&P 500 is the most widely used standard for measuring large-cap U.S. stock market performance. The S&P 500 is used as a benchmark by 97% of U.S. money managers and pension plan sponsors. More than $1 trillion is indexed to the S&P 500.