AvalonBay: Announces Disposition Activity


AvalonBay Communities, Inc. 

For Immediate News Release
July 12, 1999


                      AVALONBAY COMMUNITIES INC.                              
                   ANNOUNCES DISPOSITION ACTIVITY

(Alexandria, VA) AvalonBay Communities, Inc. (NYSE/PCX Symbol: AVB) announced
today that it completed the disposition of five communities during the second
quarter of 1999 and one community disposition on July 1, 1999.  Five of the
disposition communities are located in the Mid-Atlantic region of the United
States and one disposition community is located in Northern California.


Disposition                                        Gross Sales  Estimated Net
Community                  Location        Homes      Price       Proceeds
 
Avalon at Park Center   Alexandria, VA      492       $44.3M       $43.8M

Avalon at Lake Arbor    Mitchellville, MD   209       $14.2M       $13.8M       

Avalon Station          Fredricksburg, VA   223       $12.7M       $12.5M

Avalon at Gayton        Richmond, VA        328       $18.4M       $18.2M

Avalon at Boulders      Richmond, VA        284       $16.1M       $15.9M

The Pointe              Fairfield, CA       296       $24.4M       $23.9M

     Total                                1,832      $130.1M      $128.1M




These sales, combined with the sale of Blairmore, a 252 apartment home
community in Rancho Cordova, California, completed earlier in 1999, bring the
total value of communities sold during 1999 to $141.1 million.  Proceeds from
the sale of the six communities listed above will be re-deployed to development
and redevelopment communities currently under construction or reconstruction.  

About AvalonBay Communities, Inc. 

AvalonBay, named the NAHB Development Company of the year for 1998/1999 and the
Property Management Company of the Year for 1996/1997, currently owns or holds
an ownership interest in 134 apartment communities containing 39,091 apartment
homes in 16 states and the District of Columbia, of which 13 communities are
under construction and 12 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.



Copyright (c) 1999 AvalonBay Communities, Inc. All Rights Reserved


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