AvalonBay: Completes Avalon Fox Mill



FOR IMMEDIATE RELEASE
MARCH  14, 2000

                        AVALONBAY COMMUNITIES, INC.
                ANNOUNCES THE COMPLETION OF AVALON FOX MILL

   (Alexandria, VA) AvalonBay Communities, Inc. (NYSE/PCX Symbol: AVB)
   announced the completion of construction of a 165 apartment home
   community, Avalon Fox Mill, in Herndon, VA in January, 2000.  The
   community is strategically located in the heart of the booming Dulles
   Toll Road Corridor which is increasingly the location of choice for
   fast-growing high technology, telecommunications, and Internet sectors
   of the local economy.  In addition, the community is located within a
   fifteen minute commute to the Tysons Corner area, the largest office
   market in Northern Virginia. The community also offers excellent access
   to major transportation corridors including the Dulles Toll Road and the
   Fairfax County Parkway.

   Avalon Fox Mill is configured in fifteen three-story buildings.  The
   floor plans contain a mix of two and three bedroom town home and three
   bedroom garden-style apartment homes. All apartment homes have
   individual, ground floor entries and 119 have direct-access garages.
   The community features a clubhouse with leasing office and fitness
   center, outdoor swimming pool with sun deck, tot lot, picnic areas with
   gas barbecue grills, a maintenance shop and a car wash.

   Total development costs were approximately $20.1 million. The projected
   stabilized average leased rent is approximately $1,520 per month.

   About AvalonBay Communities

   AvalonBay currently owns or holds an ownership interest in 133 apartment
   communities containing 38,821 apartment homes in 12 states and the
   District of Columbia, of which 12 communities are under construction and
   four 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 Bryce Blair, Chief Operating
   Officer at (617) 847-1250.

   This release contains forward-looking statements within the meaning of
   Section 27A of the Securities Act of 1933 and Section 21E of the
   Securities Exchange Act of 1934. The forward-looking statements
   contained in this release are statements that involve risks and
   uncertainties, including, but not limited to, changes in the demand for
   apartment homes, the effects of economic conditions, the impact of
   competition and competitive pricing, and other matters detailed in the
   Company's filings with the Securities and Exchange Commission, including
   the Company's Annual Report on Form 10-K for the fiscal year ended
   December 31, 1998 under the heading "Management's Discussion and
   Analysis of Financial Condition and Results of Operations -
   Forward-Looking Statements."


     Copyright © 2000 AvalonBay Communities, Inc. All Rights Reserved


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