AvalonBay: Announces Conference Call For Immediate Release April 12, 2000 AvalonBay Communities, Inc. Announces Date for its First Quarter Earnings Release and Conference Call (Alexandria, VA) AVALONBAY COMMUNITIES, INC. (NYSE/PCX: "AVB" ) announced today that it will release first quarter earnings on April 25, 2000 after the market closes, and hold its first quarter conference call on April 26, 2000 at 10:00 AM Eastern Time. The domestic number for the conference call is 1-800-952-4707 and the international number for the conference call is 1-703-871-3077. The replay of the call will be available from April 26, 2000 at 11:59 PM Eastern Time until May 3, 2000 at 11:59 PM Eastern Time. The domestic number for the replay is 1-888-266-2086 and the international number for the replay is 1-703-925-2435 - Access Code: 3715370. Please note that the Earnings Release Attachments (the "Attachments") will not be included in the fax distribution. The Attachments will be available via the company web site and through e-mail distribution. To access the Attachments through our web site at http://www.avalonbay.com., select "Press Releases" under "Investors Corner." If you would like to receive future press releases via e-mail, please register through our web site at http://www.avalonbay.com/website/PressRegistration.nsf. Some items referenced in the earnings release may require the Adobe Acrobat 4.0 Reader. Download it now at http://www.adobe.com/products/acrobat/readstep.html. About AvalonBay Communities, Inc. AvalonBay 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 presently 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 regarding this news release, 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 2000 AvalonBay Communities, Inc. All Rights Reserved End