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Apartment Investment & Management Company

AIV

Apartment Investment and Management Company (Aimco) is a self-administered and self-managed real estate investment trust (REIT) engaged in the acquisition, ownership, management and redevelopment of apartment properties. As of December 31, 2004, Aimco owned or managed a real estate portfolio of 1,499 apartment properties containing 263,734 apartment units located in 47 different states, Washington, D.C., and Puerto Rico. The company’s portfolio includes garden style, mid-rise and high-rise properties. Aimco operates in two units: real estate, which involves owning and operating apartments, and investment management business, which involves providing property management and other services relating to the apartment business to third parties and affiliates. Aimco has a majority-ownership interest in AIMCO Properties, L.P. Aimco conducts substantially all of its business and owns substantially all of its assets through the Aimco Operating Partnership.

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