Apartment Investment and Management Company Provides Clarification of Historical Unrelated Business Taxable Income

Apartment Investment and Management Company (“Aimco”) (NYSE: AIV) today clarified the nature and extent of previously earned unrelated business taxable income (“UBTI”). Aimco previously owned a residual interest in a real estate mortgage investment conduit (“REMIC”), which periodically generated an immaterial amount of excess inclusion income, which is generally required to be treated as UBTI by tax-exempt organizations. On August 7, 2008, Aimco liquidated the REMIC and eliminated its sole source of UBTI. Aimco did not generate UBTI in tax years 2009, 2010 or 2011 and has a practice of avoiding investments in vehicles that may generate UBTI to Aimco in the future.

Aimco is a real estate investment trust that is focused on the ownership and management of quality apartment communities located in the largest markets in the United States. Aimco is one of the country’s largest owners and operators of apartments, with 361 communities serving approximately 250,000 residents in 30 states, the District of Columbia and Puerto Rico. 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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