EXHIBIT 99.1
Published on November 23, 2005
Contact: | Bryce Blair | |||
Chairman of the Board and Chief Executive Officer | ||||
AvalonBay Communities, Inc. | ||||
703-317-4652 |
For Immediate Release
AVALONBAY COMMUNITIES ANNOUNCES DEPARTURE OF DIRECTOR FOR HEALTH-RELATED REASONS
Alexandria, VA (November 22, 2005) AvalonBay Communities, Inc. (NYSE/PCX: AVB) announced
today that Charles D. Peebler, Jr. has resigned from the Companys Board of Directors for
health-related reasons. Mr. Peebler suffers from progressive supranuclear palsy (PSP), 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, 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 AvalonBays Web site at http://www.avalonbay.com.