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Aimco Announces New Roles for Two Key Executives

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Apartment Investment and Management Company ("Aimco") (NYSE:AIV)
announced today that 21-year Aimco veteran Patti Fielding, Executive
Vice President: Debt, and Treasurer, has also been named President,
Aimco Investment Partners. After three successful years leading the
Aimco redevelopment team, Ms. Fielding is returning to capital markets
to head Aimco's investment partnerships. Her 14-year Aimco teammate, Wes
Powell, Senior Vice President: East Redevelopment for the past five
years, has been promoted to Executive Vice President, Redevelopment, and
will lead Aimco redevelopment activities nationwide.

"Patti has enjoyed a long and decorated career as a senior executive at
Aimco, most recently leading our important redevelopment business," said
Terry Considine, Aimco Chairman/CEO. "Patti embraced her Redevelopment
responsibilities and did an excellent job. I am grateful for her many
contributions and I'm delighted that Patti will now turn her
considerable talents to sourcing investment capital. For ten years,
Patti was the able steward of our highly successful partnership with
J.P. Morgan Asset Management. Earlier, Patti was a leader on the Aimco
team in other joint ventures with such partners as CalSTRS and GE
Capital. She is well prepared for her new responsibilities." Mr.
Considine continued, "Of Patti's many accomplishments in Redevelopment,
the most important may prove to be her nurturing of a deep and talented
bench. The promotion of Wes will make for a seamless transition. Wes has
been a rising star for 14 years. He is a respected and trusted teammate."

At Aimco, Ms. Fielding has served as chairman of Aimco's investment
committee. Ms. Fielding was appointed Executive Vice President —
Securities and Debt in February 2003, and Treasurer in January 2005.
From January 2000 to February 2003, Ms. Fielding served as Senior Vice
President — Securities and Debt. Ms. Fielding joined the Company as a
Vice President in February 1997.

In addition to his redevelopment responsibilities, Mr. Powell is
responsible for Aimco acquisition activities in the eastern United
States, most recently leading Aimco's acquisition of Bent Tree, a 748
unit property in suburban Fairfax County, VA. Since joining Aimco in
January 2004, Mr. Powell has assumed steadily increasing
responsibilities including Asset Manager, Director, and Vice President,
Redevelopment: Chicago. Before joining Aimco, Mr. Powell was a Staff
Architect with Ai Architecture (now Perkins & Will) in Washington, D.C.

About Aimco

Aimco is a real estate investment trust focused on the ownership and
management of quality apartment communities located in select markets in
the United States. Aimco is one of the country's largest owners and
operators of apartments, with ownership interests in 180 communities in
22 states and the District of Columbia. Aimco common shares are traded
on the New York Stock Exchange under the ticker symbol AIV, and are
included in the S&P 500. For more information about Aimco, please visit
our website at www.aimco.com.

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