The project, which began last year under an agreement between Verizon and Aimco, will make FiOS ultra-high-sped broadband services available to all the apartments. Residents of apartments situated in areas where Verizon has obtained video franchises will be able to subscribe to Verizon's feature-rich, all-digital FiOS TV service as well. The company has been deploying its FiOS services as the buildout progressed.

The 27,000 apartments are in 100 Aimco properties situated in California, Florida, Indiana, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Rhode Island, Texas and Virginia. Aimco (Apartment Investment and Management Co.), based in Denver, is one of the nation's largest owners and operators of apartment communities, with a total of 1,067 properties across 46 states, the District of Columbia and Puerto Rico.

"We're excited that Aimco has given us access to upgrade their properties that are eligible for FiOS and provide the best entertainment choice to their residents," said Eric Cevis, vice president of Verizon Enhanced Communities, Verizon's business organization that markets and sells communications services to single- and multiple-home properties.

Don Baumann, Aimco senior vice president of income development, said: "We feel that our partnership with Verizon to bring FiOS services to these communities will allow us to offer our residents the latest technology that is available today -- fiber-optics straight to their home. With demand increasing daily for broadband capacity to drive newer technologies such as online gaming, online videos and more, FiOS provides us with a technology that we feel will help differentiate our communities from others and give us a firm technology platform for the future -- and most importantly, offer a desired amenity to our residents."

The plans for FiOS at Aimco's communities reflect the competitive advantage Verizon's fiber-to-the-premises (FTTP) network offers companies in marketing their properties.

Verizon's FiOS TV service features a broad collection of all-digital programming, with more than 500 total channels, including up to 100 high-definition channels in markets such as the New York City metro area. FiOS TV also delivers 11,000 video-on-demand (VOD) titles per month, 70 percent of which are free. In addition, the VOD library includes more than 1,000 HD VOD titles each month.

Verizon FiOS Internet service can deliver Internet access with maximum downstream connection speeds of up to 50 Mbps (megabits per second) on the nation's most advanced digital, all-fiber-optic network. At 50 Mbps, downloading a 1.2 GB (gigabyte), or 90-minute, standard-definition movie takes approximately 3.2 minutes. Upload speeds of up to 20 Mbps make it a snap to share purchased videos and files over Verizon's large-scale fiber-optic network that extends all the way to customers' homes or small and medium-sized businesses.

Verizon's FiOS Internet service was named the top pick this year in PC Magazine's reader survey and also was named a winner in PC World Magazine's annual list of 100 Best Products. It was the second year in a row the broadband service was named to both lists.

Verizon is the only major telecom company whose network has earned the certification of the independent Fiber to the Home Council for providing fiber all the way to customers' homes.

Since the end of 2005, Verizon has aggressively pursued agreements with multifamily owners to bring FiOS to their communities. To date, Verizon FiOS is available to residents in more than 870,000 apartments across 16 states and the District of Columbia.

For more information about the products and services available through Verizon Enhanced Communities, visit www.verizon.com/communities.

About Aimco

Aimco's properties are located in 46 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 www.aimco.com.

About Verizon

Verizon Communications Inc. (NYSE: VZ), headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 71 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,000 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit www.verizon.com.

VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

SOURCE Verizon

http://www.aimco.com

"Tim's solid record of success in redevelopment and his strong business acumen will enhance the effective execution of Aimco's strategic plan," said Aimco Chairman and Chief Executive Officer Terry Considine. "Tim's proven leadership will be a key asset as we align our operations, information technology, redevelopment and asset management functions to improve performance and deliver positive results to our shareholders."

Prior to joining Aimco, Beaudin was executive vice president for Catellus Development Corporation, a San Francisco-based real estate investment trust, where he was responsible for development, construction and asset management.

Aimco also announced the resignation of Jeff Adler, chief property operations officer, to found The Sanctuary Group LLC, a management consulting and investment banking firm for the multifamily industry whose services include development of investment and operations strategy, branding, target marketing and acquisition underwriting.

"Jeff has contributed enormously to Aimco's operational reinvention over the past nearly seven years, developing and then implementing our revised operating strategy, structure, tactics and metrics," said Mr. Considine. "His contribution has deeply influenced our organization, and he will be missed. We are pleased to be the first client of The Sanctuary Group, and look forward to his continued counsel on strategic issues."

Aimco is a real estate investment trust headquartered in Denver, Colorado that owns and operates a geographically diversified portfolio of apartment communities. Aimco, through its subsidiaries and affiliates, is one of the largest owners and operators of apartment communities in the United States with 1,114 properties, including 188,672 apartment units, and serves approximately 750,000 residents each year. Aimco's properties are located in 46 states, Washington, D.C., 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.

SOURCE Apartment Investment and Management Company

http://www.aimco.com

A live webcast of the call will be available on Aimco's website at http://www.aimco.com/CorporateInformation/Overview.aspx and replay will be available for 90 days.

Telephone Access

You may also join the conference call by dialing 1-800-860-2442, or 1-412-858-4600 for international callers, and indicating that you wish to join the Apartment Investment and Management Company Third Quarter 2008 earnings conference call. If you are unable to join the live conference call, you may access the replay by dialing 1-877-344-7529, or 1-412-317-0088 for international callers, passcode 423670. The conference call replay will be available for seven days.

Please note that the full text of the release and supplemental schedules will be available on Aimco's website at http://www.aimco.com/CorporateInformation/About/Financial/QEarnRelease.aspx.

Aimco is a real estate investment trust headquartered in Denver, Colorado that owns and operates a geographically diversified portfolio of apartment communities. Aimco, through its subsidiaries and affiliates, is the largest owner and operator of apartment communities in the United States with 1,114 properties, including 188,672 apartment units, and serves approximately 750,000 residents each year. Aimco's properties are located in 46 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.

SOURCE Apartment Investment and Management Company

http://www.aimco.com