Apartment Investment and Management Co. : Apartment Investment and Management Company Announces 2011 Dividend Income Tax Allocation

Apartment Investment and Management Company ("Aimco") (NYSE: AIV, AIVPrT, AIVPrU, AIVPrV, AIVPrY and AIVPrZ) announced today the 2011 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, 2011, 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 dividends varies and may not be the same as the taxation under the federal rules. 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)
Record Date		Payable Date		Dividend per Share		Taxable Ordinary Dividends		Qualified Dividends (15% Rate)		Capital Gain (15% Rate)		Unrecaptured Sec. 1250 Gain (25% Rate)		Return of Capital
2/18/11		2/28/11		$0.12		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
5/20/11		5/31/11		$0.12		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
8/19/11		8/31/11		$0.12		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
11/18/11		11/30/11		$0.12		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
Annual				$0.48		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%

Aimco Preferred Stock

Class T Cumulative Preferred Stock (CUSIP 03748R-83-8)
Record Date		Payable Date		Dividend per Share		Taxable Ordinary Dividends		Qualified Dividends (15% Rate)		Capital Gain (15% Rate)		Unrecaptured Sec. 1250 Gain (25% Rate)		Return of Capital
1/1/11		1/15/11		$0.50		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
4/1/11		4/15/11		$0.50		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
7/1/11		7/15/11		$0.50		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
10/1/11		10/15/11		$0.50		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
Annual				$2.00		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%

Class U Cumulative Preferred Stock (CUSIP 03748R-82-0)
Record Date		Payable Date		Dividend per Share		Taxable Ordinary Dividends		Qualified Dividends (15% Rate)		Capital Gain (15% Rate)		Unrecaptured Sec. 1250 Gain (25% Rate)		Return of Capital
1/1/11		1/15/11		$0.4844		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
4/1/11		4/15/11		$0.4844		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
7/1/11		7/15/11		$0.4844		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
10/1/11		10/15/11		$0.4844		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
Annual				$1.9376		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%

Class V Cumulative Preferred Stock (CUSIP 03748R-81-2)
Record Date		Payable Date		Dividend per Share		Taxable Ordinary Dividends		Qualified Dividends (15% Rate)		Capital Gain (15% Rate)		Unrecaptured Sec. 1250 Gain (25% Rate)		Return of Capital
1/1/11		1/15/11		$0.5000		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
4/1/11		4/15/11		$0.5000		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
7/1/11		7/15/11		$0.5000		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
9/6/11*		9/6/11*		$0.2889		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
10/1/11		10/15/11		$0.5000		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
Annual				$1.7889 to $2.0000		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%

*On September 6, 2011, Aimco redeemed 862,500 shares of its Class V Cumulative Preferred Stock at $25.00 per share plus an amount equal to accumulated and unpaid declared dividends thereon to the redemption date of $0.2889 per share.

Class Y Cumulative Preferred Stock (CUSIP 03748R-79-6)
Record Date		Payable Date		Dividend per Share		Taxable Ordinary Dividends		Qualified Dividends (15% Rate)		Capital Gain (15% Rate)		Unrecaptured Sec. 1250 Gain (25% Rate)		Return of Capital
1/1/11		1/15/11		$0.4922		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
4/1/11		4/15/11		$0.4922		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
7/1/11		7/15/11		$0.4922		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
10/1/11		10/15/11		$0.4922		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
Annual				$1.9688		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%

Class Z Cumulative Preferred Stock (CUSIP 03748R-77-0)
Record Date		Payable Date		Dividend per Share		Taxable Ordinary Dividends		Qualified Dividends (15% Rate)		Capital Gain (15% Rate)		Unrecaptured Sec. 1250 Gain (25% Rate)		Return of Capital
10/1/11		10/15/11		$0.359722		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%
Annual				$0.359722		0.00000%		0.00000%		24.00795%		75.99205%		0.00000%

Aimco is a real estate investment trust that is focused on the ownership and management of quality apartment communities located in the 20 largest markets in the United States. Aimco is one of the country's largest owners and operators of both conventional and affordable apartments, with 565 communities serving approximately 500,000 residents in 38 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 website at www.aimco.com.

Aimco
Elizabeth Coalson, 303-691-4327
Vice President Investor Relations
Elizabeth.Coalson@Aimco.com

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