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| AvalonBay Communities Declares Second Quarter Dividends |
ALEXANDRIA, Va., May 29 /PRNewswire-FirstCall/ --
AvalonBay Communities, Inc. (NYSE/PCX: AVB) announced today that its Board of
Directors declared dividends on the Company's Common Stock (par value $.01)
for the second quarter of 2003. The Common Stock dividend is $0.70 per share
and is payable on July 15, 2003 to all Common Stockholders of Record as of
July 1, 2003.
The Board of Directors also declared dividends on the Series H Cumulative
Redeemable Preferred Stock for the second quarter of 2003. The Series H
Cumulative Redeemable Preferred Stock dividends are $0.54375 per share and are
payable on September 15, 2003 to all Series H Stockholders of Record as of
August 29, 2003.
About AvalonBay Communities
AvalonBay Communities, Inc., headquartered in Alexandria, Virginia,
currently owns or holds an ownership interest in 146 apartment communities
containing 42,845 apartment homes in 11 states and the District of Columbia,
of which ten communities are under construction and two communities are under
reconstruction. AvalonBay is in the business of developing, redeveloping,
acquiring and managing luxury apartment communities in high barrier-to-entry
markets of the United States. More information on AvalonBay may be found on
AvalonBay's Web site at http://www.avalonbay.com.
Contact:
Thomas J. Sargeant
Executive Vice President and Chief Financial Officer
AvalonBay Communities, Inc.
703-317-4635
SOURCE AvalonBay Communities, Inc.
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CONTACT:
Thomas J. Sargeant, Executive Vice President
and Chief Financial Officer for AvalonBay Communities, Inc.,
+1-703-317-4635
