AvalonBay Communities Declares Second Quarter 2009 Dividends

ALEXANDRIA, Va.--(BUSINESS WIRE)-- AvalonBay Communities, Inc. (NYSE:AVB) announced today that its Board of Directors declared a cash dividend on the Company's Common Stock (par value $0.01 per share) for the second quarter of 2009. The Common Stock dividend is $0.8925 per share and is payable July 15, 2009 to all Common Stockholders of Record as of June 30, 2009.

About AvalonBay Communities

As of March 31, 2009, the Company owned or held a direct or indirect ownership interest in 173 apartment communities containing 50,291 apartment homes in ten states and the District of Columbia, of which 12 communities were under construction and seven communities were 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, an S&P 500 listed company, may be found on AvalonBay's Web site at http://www.avalonbay.com.


    Source: AvalonBay Communities, Inc.

Released May 21, 2009