"
"Sam has made significant contributions to the company and has
helped us become one of the leading developers in the multi-family
industry," said Blair.

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We look
forward to continuing to benefit from Tim's experience and industry
knowledge as the company moves into a period of increased development
and investment activity.
Leo Horey, Executive Vice President of Operations, will continue
to manage the company's operating communities and will assume
additional responsibilities in the areas of marketing and strategic
business services as a direct report to Bryce Blair. "We are proud of
our past accomplishments and have positioned our organization for
continued growth and success .

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"We're excited to have Tim join our team," said Evan Williams, Odeo's
co-founder and CEO .

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"Tim has played a key role in the company's success. He will also continue
to lead the company's efforts to access new or expanded sources of
capital including a new discretionary institutional investment
management fund, which is scheduled to close in the first quarter of
2005.

cohn uecker

odeo.

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necessity uecker

"Tim and I have worked together for the past 16 years," said
Blair.
"I am excited to join Odeo in developing applications that combine
user-generated audio and the Internet," said Roberts.

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Roberts comes to Odeo most recently from Yahoo, where he was a senior
director responsible for a number of products including small business tools,
hosting, ecommerce and Y! widgets.

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"While I look
forward to new challenges, I will miss the many personal and
professional friendships that I have formed with the AvalonBay team. "Tom is recognized as one of the most experienced and capable
CFOs in the REIT industry and has played a critical role in
AvalonBay's overall success," said Blair."

About AvalonBay Communities

AvalonBay Communities, Inc.

lesley bernstein

com) is in
the business of enabling a variety of communications on the Web including
podcasting.

visser pioneering

avalonbay.

cohn lesley

, headquartered in Alexandria,
Virginia, currently owns or holds an ownership interest in 148
apartment communities containing 42,810 apartment homes in ten states
and the District of Columbia, of which ten communities are under
construction and four communities are under reconstruction.

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"
Since being appointed Chief Operating Officer in the first quarter
of 2001, Naughton has successfully guided the company's development ,
construction, investment, marketing, and property operations
activities. More information on AvalonBay may be found on
AvalonBay's Web site at http://www. Former Yahoo Senior Director to Oversee Odeo Product Design and Marketing

SAN FRANCISCO, Odeo, the podcasting company based
here , announced today that it has hired Tim Roberts as vice president of
Product and Marketing.

Sites featuring people who broadcast athletic events on radio, television, or the internet.

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He will assume the
title of President from Bryce Blair, who will remain Chairman and CEO. "We will surely miss Sam and appreciate the
many talents that he has brought to the business. "AvalonBay is
fortunate to have a seasoned group of real estate professionals and I
look forward to working more closely with them as we expand our level
of investment activity over the next few years," said Naughton. "He's been doing the heavy lifting in Internet product
development for years and has a great strategic mindset that will help Odeo
break new ground.

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The company also announced that Sam Fuller, Executive Vice
President of Development and Construction, will leave the company as
of April 30, 2005. Prior to that, he held positions at a
number of start-ups and was a co-founder of Bigstep.com. Roberts also worked
at Lotus, Netscape and Organic Online in a variety of product management
positions.

uecker bernstein

----AvalonBay
Communities, Inc. "I have worked with the company for 16 years and I
am proud of our many accomplishments ," said Fuller.

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In this
new role, Naughton will have direct oversight of the company's
development , construction, and investment groups."
In his new role, Roberts will oversee the product, user experience and
marketing teams.

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Its creative and easy-to-use applications for recording and
sharing audio content have become one of the most popular podcasting
destinations on the Net.

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"AvalonBay is fortunate to have assembled, developed, and retained
a deep bench of management talent," commented Blair."

About Odeo
Founded in 2004 by Evan Williams and Noah Glass, Odeo (http://www .

milo berman

Business Editors/Real Estate Writers

ALEXANDRIA, Va."
Reporting to Tim Naughton will be Bill McLaughlin, Jon Cox, Steve
Wilson, and Fred Harris, SVPs of Development, Rick Morris , SVP of
Construction, and Lili Dunn, SVP of Investments.com

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Tim Naughton Named President of AvalonBay Communities

(NYSE/PCX:AVB) announced today that Tim Naughton,
currently Chief Operating Officer, has been named President. I
look forward to maintaining a positive relationship with AvalonBay and
will continue to support the company in the future.
In his role as Chief Financial Officer of the company, Tom
Sargeant will continue to have oversight of finance, accounting,
investor relations and information technology. AvalonBay
is in the business of developing, redeveloping, acquiring , and
managing apartment communities in high barrier-to-entry markets of the
United States.

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Naughton has been with the company and its predecessors
since 1989.

Odeo Hires Tim Roberts as VP Product and Marketing

ledford hickman

He received his master's degree from Harvard Business
School and his undergraduate degree in economics from the University
of Virginia. Roberts will lead definition and development of Odeo's
suite of audio Internet products. "It's an amazing
opportunity to join Evan and such a talented development team.

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"Leo has
successfully guided our property operations through a difficult
economic period, and I am confident that he and his talented team will
continue to achieve positive results," said Blair.