AvalonBay Communities Announces May 22, 2013, Retirement of Bryce Blair from the Board; Timothy J. Naughton Appointed to Succeed

  AvalonBay Communities Announces May 22, 2013, Retirement of Bryce Blair from
  the Board; Timothy J. Naughton Appointed to Succeed as Chairman

Business Wire

ARLINGTON, Va. -- March 18, 2013

AvalonBay Communities, Inc. (NYSE: AVB) announced today that Bryce Blair,
Chairman of the Board, has decided not to stand for re-election at the May 22,
2013 Annual Meeting of Stockholders (the “Annual Meeting”). This will complete
Mr. Blair’s retirement from the Company. The Company also announced that its
Board of Directors has appointed Timothy J. Naughton, the Company’s Chief
Executive Officer, to serve in the additional capacity as Chairman of the
Board, effective upon Mr. Naughton’s re-election to the Board at the Annual

Mr. Blair said, “I have been with AvalonBay for over 25 years. It has been
tremendously rewarding for me to see the Company grow during that time into a
nationally recognized leader in our industry that has served all of our
stakeholders well – shareholders, residents, associates and the neighborhoods
in which we build and operate our communities. With the recently completed
purchase of over six billion dollars of assets from Archstone Communities, I
look forward to watching AvalonBay as it begins a new phase in its successful

“During Bryce’s tenure as CEO of the Company, the Company focused its strategy
and excelled in its execution. It has been a privilege to work with Bryce and
learn from him, and we will miss having him as a colleague,” said Mr.

“Bryce was instrumental in helping AvalonBay build one of the most talented
and experienced real estate management teams,” added Lance Primis, the
Company’s Lead Independent Director. “The Board thanks Bryce for his many
years of dedicated service to the Company. We are confident that, with the
additional role of Chairman, Tim will help guide the Company to continued
growth and success.”

About AvalonBay Communities

As of March 1, 2013, including the effect of the Archstone transaction that
occurred during the first quarter, the Company owned or held an interest in
273 apartment communities containing 81,970 apartment homes in twelve states
and the District of Columbia, of which 28 communities were under construction
and five communities were under reconstruction. AvalonBay is in the business
of developing, redeveloping, acquiring, and managing apartment communities in
high barrier-to-entry markets of the United States. More information on
AvalonBay, an S&P 500 listed company, may be found on AvalonBay's website at

       Copyright © 2013 AvalonBay Communities, Inc. All Rights Reserved


AvalonBay Communities, Inc.
Jason Reilley
Investor Relations
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