Apartment Investment and Management Company Announces the Passing of Director Richard S. Ellwood

DENVER, Jan. 3, 2012 /PRNewswire/ -- Apartment Investment and Management Company ("Aimco") (NYSE:  AIV) has announced the passing of Richard S. Ellwood, a long-time member of Aimco's Board of Directors. Director Ellwood passed away suddenly last week.

"We are deeply saddened by the passing of our dear friend," said Terry Considine, Aimco's Chairman and Chief Executive Officer. "Dick Ellwood was a valued and much appreciated colleague, who served and cared for Aimco for 18 years.  He has been a warm-hearted and enjoyable partner who gave us important insights with sincerity and humor.  I will miss him, as will our entire Aimco family.  Our thoughts and prayers are with Dick's wife, Liz, and his family."

Mr. Ellwood was first elected as an Aimco Director in July 1994. He served on the Audit, Compensation and Human Resources, and Nominating and Corporate Governance Committees. Mr. Ellwood was the founder and President of R.S. Ellwood & Co., Incorporated, which he operated as a real estate investment banking firm through 2004. Prior to forming his firm, Mr. Ellwood had over thirty years experience on Wall Street as an investment banker.  As one of the first real estate investment bankers, Mr. Ellwood brought particular expertise in real estate finance through corporate securities in both public and private markets as well as in direct property financings through mortgage placements, limited partnerships and joint ventures.

Aimco is a real estate investment trust that is focused on the ownership and management of quality apartment communities located in the 20 largest markets in the United States. Aimco is one of the country's largest owners and operators of both conventional and affordable apartments, with 565 communities serving approximately 500,000 residents in 38 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

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