AvalonBay: Declares Dividends
                              

For Immediate Release
June 19, 2000


   AVALONBAY COMMUNITIES DECLARES SECOND QUARTER DIVIDENDS


(Alexandria, VA) AVALONBAY COMMUNITIES, INC. (NYSE/PCX Symbol: AVB)
announced today that its Board of Directors declared dividends on the
Company's Common Stock (par value $.01) and the Series C, Series D,
Series F, Series G and Series H Cumulative Redeemable Preferred Stock
for the second quarter of 2000. The Common Stock dividend is 56 cents
per share and is payable on July 17, 2000 to all Common Stockholders of
Record as of June 30, 2000.  The Series C, Series D and Series H
Cumulative Redeemable Preferred Stock dividends are 53.125 cents per
share, 50 cents per share and 54.375 cents per share, respectively, and
are payable on September 15, 2000 to all Series C, Series D and Series H
Stockholders of Record as of August 31, 2000.  The Series F and Series G
Cumulative Redeemable Preferred Stock dividends are 56.25 cents per
share and 56 cents per share, respectively.  The Series F and Series G
Cumulative Redeemable Preferred Stock dividends are payable on August
15, 2000 to all Series F and Series G Stockholders of Record as of
August 1, 2000.
                              
                              
About AvalonBay
AvalonBay owns or holds an ownership interest in 132 apartment
communities containing 38,647 apartment homes in 12 states and the
District of Columbia, of which presently 9 communities are under
construction and 6 communities are under reconstruction.  AvalonBay is
an equity REIT in the business of developing, redeveloping, acquiring
and managing multifamily apartment communities in high barrier-to-entry
markets of the United States.  More information on AvalonBay may be
found on AvalonBay's Web Site at http://www.avalonbay.com.  For
additional information, please contact Richard L. Michaux, President and
Chief Executive Officer, at (703) 317-4602 or, Thomas J. Sargeant, Chief
Financial Officer, at (703) 317-4635.


                              
Copyright c 2000 AvalonBay Communities, Inc. All Rights Reserved

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