Aimco Named Industry Leader for Quality Affordable Housing.

Receives National Affordable Housing Management Association Awards

DENVER -- Apartment Investment and Management Company ("Aimco") (NYSE: AIV), the nation's largest owner and operator of apartment communities, received the 2007 Communities of Quality Program Award from the National Affordable Housing Management Association (NAHMA), the leading affordable housing advocacy organization representing multifamily owners and management companies.

The annual award recognizes Aimco for having the nation's highest number of multifamily communities that have earned NAHMA's "Communities of Quality[R]" (COQ) certification for excellence in affordable property management, customer service, personnel performance and other areas. The award was formally presented to Aimco at NAHMA's annual meeting in Washington, D.C.

Separately, Aimco's University Square community in Philadelphia was awarded NAHMA's annual award as the nation's outstanding affordable housing development for elderly residents.

"We are honored to receive NAHMA's recognition as the industry leader in affordable housing," said Aimco Senior Vice President and head of Affordable Operations Jeff Kimes. "The award underscores our commitment to creating outstanding affordable housing communities throughout the country. This is a great credit to our dedicated team members who deliver outstanding services and are constantly striving to meet and exceed the needs of our residents."

As of the end of 2007, more than 60 Aimco communities across the country had earned the COQ certification.

"Affordable housing done right is a tremendous asset to a community, especially because it gives pride of place to families and individuals who deserve - but may not always have access to - safe, decent and satisfying housing and communities," said NAHMA President Michelle Norris in announcing the awards. "Companies that qualify for the COQ awards program are emblematic of why affordable housing deserves to receive continued federal and other support. They fulfill a growing need for housing for the working poor, the elderly, special needs populations and others."

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 1,169 properties, including 203,040 apartment units, and serves approximately 750,000 residents each year. Aimco's properties are located in 46 states, Washington, D.C., 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 http://www.Aimco.com.

The National Affordable Housing Management Association is the leading voice for affordable housing, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing. As an advocate for professional standards for affordable housing providers, NAHMA holds a unique position in the industry. Founded in 1990, NAHMA's membership today includes the industry's most distinguished multifamily managers, owners, and industry stakeholders. For more information, visit NAHMA at http://www.nahma.org.