Apartment Investment and Management Company Announces 2007 Dividend Income Tax Allocation

    DENVER, Jan. 23 /PRNewswire-FirstCall/ -- Apartment Investment and
 Management Company ("Aimco") (NYSE:   AIV, AIVPrG, AIVPrT, AIVPrU, AIVPrV,
 and AIVPrY), announces the 2007 dividend allocation for federal income tax
 purposes for its Class A Common Stock and its publicly traded preferred
 stock.
 
     Aimco's tax return for the year ended December 31, 2007, has not yet
 been filed. As a result, the income tax allocation for the dividends
 discussed below has been calculated using the best available information as
 of the date of this release. Please note that federal tax laws affect
 taxpayers differently, and the information in this release is not intended
 as advice to shareholders on how dividends should be reported on their tax
 returns. Also note that state and local taxation of real estate investment
 trust (REIT) dividends varies and may not be the same as the taxation under
 the federal rules.
 
     All 2007 dividends payable through April and a portion of the Class A
 Common Stock dividend payable on May 31, 2007, were attributable to taxable
 income and gains recognized in 2006. In addition, the Class A Common Stock
 dividend to be paid on or before January 31, 2008, is taxable in the 2007
 year.
 
     As a result of the Class A Common Stock dividend to be paid on or
 before January 31, 2008, we have extended our filing deadline of Form
 1099-DIV with the Internal Revenue Service by 30 days. Shareholders should
 therefore not expect to receive Form 1099-DIV until the middle of February
 2008. We apologize for any inconvenience this may cause to shareholders.
 
     Pursuant to Internal Revenue Code Section 860E(d), 0.03443% of the
 total 2007 dividends represent Excess Inclusion Income. The tax treatment
 of these dividends may vary depending on each shareholder's particular tax
 situation.
 
     Aimco encourages shareholders to consult with their own tax advisors
 with respect to the federal, state and local income tax effects of these
 dividends.
 
 
Class A Common Stock (CUSIP 03748R-10-1) Divi- Unrecap- dend Qualified Capital tured per Taxable Dividends Gain Sec. 1250 Return Record Payable Common Ordinary (15% (15% Gain of Date Date Share Dividends Rate) Rate) (25% Rate) Capital 05/18/07 05/31/07 $0.60 15.77521% 2.41601% 50.36119% 31.44759% 0.00000% 08/17/07 08/31/07 $0.60 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% 11/16/07 11/30/07 $0.60 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% 12/31/07 01/30/08 $2.51 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% Annual $4.31 18.01055% 2.44292% 53.54245% 26.00408% 0.00000% Class G Cumulative Preferred Stock (CUSIP 03748R-40-8) Unrecap- Divi- Qualified Capital tured dend Dividends Gain Sec. 1250 Return Record Payable per Ordinary (15% (15% Gain of Date Date Share Dividends Rate) Rate) (25% Rate) Capital 01/01/ 01/15/ 07 07 $0.5859375 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 04/01/ 04/15/ 07 07 $0.5859375 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 07/01/ 07/15/ 07 07 $0.5859375 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% 10/01/ 10/15/ 07 07 $0.5859375 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% Annual $2.343750 9.19324% 2.33678% 40.99396% 47.47602% 0.00000% Class T Cumulative Preferred Stock (CUSIP 03748R-83-8) Unrecap- Divi- Qualified Capital tured dend Dividends Gain Sec. 1250 Return Record Payable per Ordinary (15% (15% Gain of Date Date Share Dividends Rate) Rate) (25% Rate) Capital 01/01/07 01/15/07 $0.50 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 04/01/07 04/15/07 $0.50 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 07/01/07 07/15/07 $0.50 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% 10/01/07 10/15/07 $0.50 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% Annual $2.00 9.19324% 2.33678% 40.99396% 47.47602% 0.00000% Class U Cumulative Preferred Stock (CUSIP 03748R-82-0) Unrecap- Divi- Qualified Capital tured dend Dividends Gain Sec. 1250 Return Record Payable per Ordinary (15% (15% Gain of Date Date Share Dividends Rate) Rate) (25% Rate) Capital 01/01/ 01/15/ 07 07 $0.484375 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 04/01/ 04/15/ 07 07 $0.484375 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 07/01/ 07/15/ 07 07 $0.484375 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% 10/01/ 10/15/ 07 07 $0.484375 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% Annual $1.937500 9.19324% 2.33678% 40.99396% 47.47602% 0.00000% Class V Cumulative Preferred Stock (CUSIP 03748R-81-2) Unrecap- Divi- Qualified Capital tured dend Dividends Gain Sec. 1250 Return Record Payable per Ordinary (15% (15% Gain of Date Date Share Dividends Rate) Rate) (25% Rate) Capital 01/01/07 01/15/07 $0.50 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 04/01/07 04/15/07 $0.50 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 07/01/07 07/15/07 $0.50 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% 10/01/07 10/15/07 $0.50 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% Annual $2.00 9.19324% 2.33678% 40.99396% 47.47602% 0.00000% Class Y Cumulative Preferred Stock (CUSIP 03748R-79-6) Unrecap- Divi- Qualified Capital tured dend Dividends Gain Sec. 1250 Return Record Payable per Ordinary (15% (15% Gain of Date Date Share Dividends Rate) Rate) (25% Rate) Capital 01/01/ 01/15/ 07 07 $0.49219 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 04/01/ 04/15/ 07 07 $0.49219 0.00000% 2.22613% 27.91054% 69.86333% 0.00000% 07/01/ 07/15/ 07 07 $0.49219 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% 10/01/ 10/15/ 07 07 $0.49219 18.38645% 2.44744% 54.07740% 25.08871% 0.00000% Annual $1.96876 9.19324% 2.33678% 40.99396% 47.47602% 0.00000% Aimco is a real estate investment trust headquartered in Denver, Colorado that owns and operates a geographically diversified portfolio of apartment communities through 19 regional operating centers. Aimco, through its subsidiaries and affiliates, is the largest owner and operator of apartment communities in the United States with 1,194 properties, including 206,217 apartment units, and serves approximately 750,000 residents each year. Aimco's properties are located in 47 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 web site at http://www.aimco.com.

SOURCE Aimco

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