AvalonBay Communities Announces Departure of Director for Health-Related Reasons.ALEXANDRIA, Va. -- AvalonBay Communities AvalonBay Communities, Inc. (NYSE: AVB) is an Alexandria, Virginia-based public real estate investment trust. The company specializes in acquiring, developing, redeveloping and managing high-quality apartment communities in high barrier-to-entry markets, such as the Northeast, , Inc. (NYSE/PCX:AVB AVB Allgemeine Versicherungsbedingungen AVB Armin Van Buuren (musician) AVB Atrioventricular Block AVB Association Vaincre le Bègaiement AVB Acappella Vocal Band (men's Christian a cappella group) ) announced today that Charles D. Peebler, Jr. has resigned from the Company's Board of Directors for health-related reasons. Mr. Peebler suffers from progressive supranuclear palsy Progressive Supranuclear Palsy Definition Progressive supranuclear palsy (PSP; also known as Steele-Richardson-Olszewski syndrome) is a rare disease that gradually destroys nerve cells in the parts of the brain that control eye movements, breathing, and (PSP (PlayStation Portable) See PlayStation. ), which has made active Board service increasingly difficult. He therefore felt it was an appropriate time for him to step down from the Board. "Chuck brought a wealth of insight and experience to the AvalonBay Board from his many years as a business executive," said Bryce Blair, Chairman of the Board and Chief Executive Officer. Mr. Peebler joined the Board on May 8, 2001. "The Company has benefited greatly from his many contributions. We respect his decision, which we know he made with the best interests of the Company in mind. We will miss his service on the Board." About AvalonBay Communities AvalonBay Communities, Inc., headquartered in Alexandria, Virginia, currently owns or holds an ownership interest in 152 apartment communities containing 44,139 apartment homes in ten states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , of which fourteen communities are under construction and four communities are under reconstruction. AvalonBay is in the business of developing, redeveloping, acquiring, and managing 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. |
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