Bell owns patents for
CamLocks and PinchGuard, and has a patent pending on QuickFit.
-- Face-Priority AF*: automatically finds and focuses on a persons face
within the frame, providing sharp focus to produce clear, crisp
portraits wherever the subject is positioned in the frame.0 for
the COOLPIX L2, 5.
** COOLPIX L4 does not record sound in the Movie Mode.

Tim Naughton Named President of AvalonBay Communities

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

andersson skateboarding

2005 Helmet Highlights

-- X-GAMES CHAMPS: Tony Hawk leads the line of Bell Signature Series
helmets featuring fellow X-Games champion Dave Mirra. The value pack line
features a helmet, matching knee pads and elbow pads.

"Consumers of all ages project who they are through what they wear, from
sports team hats and jerseys to designer-label jeans.0 effective
megapixels and a 3x optical Zoom-Nikkor ED Glass lens, make them ideal for the
user who wants a camera with added style.

About Nikon
Nikon, At the Heart of the Image(TM)."
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 . "We will surely miss Sam and appreciate the
many talents that he has brought to the business.

tearsheets newsome

bellbikestuff . 3 Monte Carlo. Wheelerz Spoke Lights: Motion-activated, multi-
colored lights in fun shapes attach to spokes and give bikes a colorful
glow. The system includes:

-- In-Camera Red-Eye Fix(TM): automatically detects and corrects red eye,
a common condition that occurs in flash photography.
The L2 and L3 will be available in late February 2006 with MSRP's of,
$199.

* Face-recognition capability may be limited in some shooting
conditions .

filmer newsome

" Bike products featuring Barbie, Hot
Wheels and other kids' favorites fill out the licensed line with helmets
to suit all interests. This
combination of in-camera features provides a quick, easy and seamless answer
to underexposed pictures due to excessive backlight or insufficient flash,
blurry or out-of-focus shots and red eyes.

In addition, every new COOLPIX camera features TV Quality Move Mode**
function (recording movies at up to 30 fps with sound), Noise Reduction - to
produce better results during low-light conditions; a broad choice of White
Balance selection and a convenient Help Button, which is never further than a
push of a button away, giving easy-to -understand explanations for all
functions throughout the menu.1 effective
megapixels with a range of advanced in-camera technologies. I
look forward to maintaining a positive relationship with AvalonBay and
will continue to support the company in the future.

skateboarders meally

-- BATMAN, BARBIE, AND MORE: A line of Batman-inspired helmets and
accessories for biking and skating -- capturing the resurging popularity
of the Winged One, who will be the talk of summer '05 in the highly
anticipated film "Batman Begins. The company markets helmets and accessories under the Bell,
Giro, Blackburn , CoPilot, X Games, West Coast Choppers, Batman,
Barbie, Hot Wheels and Fisher Price brands. Headquartered in
Irving, Texas, the company has operations in Santa Cruz, Calif. Nikon's New COOLPIX Digital Cameras Put Performance and Style in Your Life

MELVILLE, N. The L4 will be available in March
2006 with an MSRP of $149.
To ensure quality photos in various shooting environments, users have the
option of 16 scene modes, 17 for S5 with Underwater mode****, including four
modes with Scene Assist. The S5
has an MSRP of $349.
distributes the Nikon Total Imaging System of consumer and professional
digital SLR cameras, Nikkor optics, Speedlights and System Accessories; Nikon
COOLPIX (R) compact digital cameras; COOLSCAN(R) digital film scanners; 35mm
film SLR cameras; Nikon software products and Nikon sports and recreational
optics.

skateboarders skateboarding

Bell believes wheeled sports are an
integral part of kids' lives, and that everyday interests can inspire them
to take proper safety measures when they ride.

About Bell Sports

Bell Sports is the world's leading designer and marketer of helmets and
accessories in the auto racing, motorcycle, cycling and action sports
categories . Bell Sports
distributes its products in 45 countries. Today, Nikon announced the addition of seven new COOLPIX
cameras adding to its Life, Style and Performance Series. In addition, there are 16 shooting modes,
including nine advanced scene modes that allow photographers to produce
pictures better suited to their own personal tastes - through the use of three
effects that vary brightness, color intensity, sharpness noise reduction and
more.
The COOLPIX P3 and P4 will be available in March 2006 with a MSRP of
$449.

"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. "We are proud of
our past accomplishments and have positioned our organization for
continued growth and success.

jody hopson

-- VALUE PACKS: Updates to Bell's popular value pack line for less than
$20, including new themes such as Silly Monster Trucks for toddlers, and
Violet Flower Patch and Knight Quest for kids. Developed with the
consumer in mind, Nikon has combined exceptional features with world-renowned
quality design and style at attractive prices. At the heart of every Nikon camera is Nikon's Exclusive Feature
System, making it easy for anyone to take amazing digital pictures.

klaas captions

-- NASCAR-THEMED: A NASCAR-inspired line of multi-sport helmets featuring
the car colors and signatures of the hottest stars in the sport today --
Dale Earnhardt Jr., Looking for a premier digital
camera with your needs in mind? Whether you're a first time digital camera
consumer, looking to update your old digital camera , a person who enjoys
sharing your pictures or an experienced photographer looking for a compact
digital camera, Nikon's 2006 COOLPIX line has a camera and feature set that is
right for you. Sharing digital images is easy with
the new Pictmotion(TM) function, which allows users to select their favorite
images, choose one of five royalty-free, pre-installed music files, or their
own choice of music ***, and automatically produce slide shows with pace and
transition selected to match the music and style. Also included in the new S Series is a
standalone One-Touch Portrait button conveniently located on the top of each
camera, giving users instant access to the In-Camera Red Eye Fix and Face
Priority AF options. Through
the Nikon Spirit Initiative(TM), the company, plays an active role in
supporting aspiring and advanced photographers through a variety of
philanthropic organizations, educational programs, events and workshops.

jody skateboard

Y.
"Consumers requested small, sharp, powerful and easy-to-use digital
cameras that can capture and share moments and memories," says Bill Giordano,
General Manager of Consumer Product Marketing for Nikon Inc.

Memories Made Easy with Nikon 's COOLPIX L-Series

If you are looking for an easy to use, compact digital camera that takes
great pictures right out of the box, the Nikon COOLPIX L Series is a perfect
fit. With generous effective megapixel values of 6. A choice of 15 Scene Modes -
including four with Scene Assist - Best Shot Selector (BSS), Single and
Continuous AF, Choice of White Balance and Noise reduction help users create
pictures with optimal results.95 for the L2. To help photographers capture the action as it happens, both cameras
feature continuous shooting at up to 1.8 frames per second, which is
complimented by a five shot buffer that allows users to shoot in a continuous
burst, with the camera recording the last five images taken.

Business Editors/Real Estate Writers

ALEXANDRIA , Va.

tearsheets viegen

"
Unique to COOLPIX digital cameras, and now for the first time available
throughout the line-up, is Nikon's Exclusive Feature System, which gives users
the power to automatically improve recorded images in-camera.
The COOLPIX S6 features an additional advantage of built-in WiFi
capability , allowing for wireless transfer of pictures to a computer and
wireless printing***** with any PictBridge enabled printer. In this
new role, Naughton will have direct oversight of the company's
development , construction, and investment groups."
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., 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.

captions shad

Teens can explore their adventurous side with
signature helmets featuring skateboard icon Tony Hawk and BMX champ Dave
Mirra, or take a ride on the wild side with flame-covered, chopper -inspired
helmets and accessories, while younger kids enjoy traditional favorites,
such as Barbie and Batman.1 for the COOLPIX L3 and 4.0-inch LCD, each of
which is viewable for a wide 170-degree angle. Nikon Inc.com, which
links all levels of photographers to the web's most comprehensive photo
learning and sharing communities. 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.

filmer mortagne

and Tony Stewart, plus a special commemorative helmet
honoring Dale Earnhardt Sr.

-- MAKE AN ENTRANCE: Razzle Tazzles: Decorative handlebar streamers
with gemstones jazz up any bike.
-- D-Lighting: selects and creates a copy of images with excessive
backlight or insufficient flash illumination, adding light and detail
where necessary.
The COOLPIX S5 and S6 will be available nationwide in March 2006.95, respectively.
**** Requires new FJ -CP-1 - Field Jacket - Price TBD
***** Requires optionally available Wireless Printer Adapter PD-10.

tobin andersson

The market leader's 2005 line caters to a wide range
of tastes and ages. Youth value packs
in Skulls and Bones and Blue Flowers themes feature a helmet with matching
locks and valve caps. Designed for the
photographer who enjoys customization and the ability to control their
photography , the P Series cameras feature an innovative Vibration Reduction
(VR) capability. More information on AvalonBay may be found on
AvalonBay's Web site at http://www.

skateboard klaas

(Click here for details)
Bell 's inspiration for the new line came in part from a recent survey
conducted in conjunction with the National SAFE KIDS Campaign, which found
that a whopping 59 percent of kids ages 5 to 14 don't wear helmets when
participating in wheeled activities.; Rantoul,
Ill.0 for the COOLPIX L4, users have
the ability to produce clear, crisp pictures. Originally developed for Nikon SLR lenses, VR capability is
available in two modes (Normal and Active) in order to compensate for camera
movement.
The P3 and P4 give users the flexibility of a full array of exposure
control settings.nikonusa .

skateboarders newsome

is the world leader in
digital imaging, precision optics and photo imaging technology and is globally
recognized for setting new standards in product design and performance for its
award -winning consumer and professional photographic equipment.

skateboarding gee

The COOLPIX P3 comes with built in Wi-Fi capability that allows for
wireless transfer of pictures to a computer and wireless printing ***** with
any PictBridge enabled printer.95 and $399.
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.com

hopson pommier

www. (NYSE/PCX:AVB) announced today that Tim Naughton,
currently Chief Operating Officer, has been named President.

mirbach klaas

95

Brilliance Made Beautiful with Nikon's COOLPIX S Series

The stylish Nikon COOLPIX S5 and S6 combine high-quality imaging
performance with impressive digital photo sharing technology . For
more information, dial (800) NIKON-US or visit http://www.
"Tim and I have worked together for the past 16 years," said
Blair.

viegen skateboarding

The popular multi-
sport helmet line is for biking, skateboarding , in-line skating and other
non-motorized wheeled sports.

Nikon Announces Seven New COOLPIX Cameras With Consumer's Digital Photography Needs in Mind

You may never see
red eye again. Slide shows can be played
back with ease on the S5's 2.
The incorporation of a Rotary Multi Selector allows for easy scrolling
through the newly designed menu system and breezing through picture playback
at up to 10 frames per second. VR Normal compensates for minor movements, most often associated
with handheld shooting, while VR Active compensates for more pronounced
movements, such as the vibration of a moving vehicle.----AvalonBay
Communities, Inc."

About AvalonBay Communities

AvalonBay Communities, Inc.

hopson mortagne

This spring, kids can bike with Barbie and
Batman, head to the skatepark with Tony Hawk, and burn rubber with Dale
Earnhardt Jr.'s No.

-- PROPER FIT: More helmets in the 2005 line are upgraded with Bell's
exclusive Quick Fit fit system, CamLocks for easier strap
adjustment and PinchGuard for no-pinch buckling. "For
our 2005 line, we placed the greatest emphasis on designing helmets with
icons, images and characters that kids can associate with, while adding
features to make it easier to adjust our helmets for the optimal fit.com.5-inch LCD of the S6's 3. Nikon Inc. "Tim has played a key role in the company's success. "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.

yelland gee

PRESS RELEASE Bell Sports' New Helmets Let Kids Ride With Their Heroes Favorite Characters

These icons of fun, fashion and all things fast are featured
in Bell Sports' 2005 bike and skate helmets , now available at retail.; Limerick, Ireland; and Hong Kong.95 and the S6 $449.95. Covering a broader area of the frame, the new 11 wide-area
AF achieves better results in more diverse compositions - leaving
photographers free to concentrate on the shot while the camera automatically
achieves superior, sharp focus.
"AvalonBay is fortunate to have assembled, developed, and retained
a deep bench of management talent," commented Blair. AvalonBay
is in the business of developing, redeveloping , acquiring, and
managing apartment communities in high barrier-to-entry markets of the
United States.

tearsheets skateboarders

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

klaas mirbach

The company has also added
features to make it easier to adjust helmet straps and buckles to achieve
proper fit. Helmets are no
different," said Alex McKinnon, vice president of marketing at Bell."

Bell helmets are available at mass retailers such as Wal-Mart, Toys "R" Us
and Kmart, among other retailers .bellbikestuff. He will assume the
title of President from Bryce Blair, who will remain Chairman and CEO. He received his master's degree from Harvard Business
School and his undergraduate degree in economics from the University
of Virginia.avalonbay.

nsson mortagne

2005 Style Highlights

-- CUSTOM CHOPPERS: 89% of boys aged 8-15 are interested in chopper-
styled bikes and accessories , and popular bands like Good Charlotte are
bringing the trend to an even broader mix of tweens and teens.; York, Penn.
-- Blur Warning: alerts the user that a shot has resulted in a blurry
picture allowing for it to be retaken before leaving the scene.
-- Best Shot Selector (BSS): automatically identifies and saves the
sharpest shot from ten sequential shots. The COOLPIX L2, L3 and L4 feature high-quality components, including a 3x
optical Zoom-Nikkor lens, a big, bright, 2.0-inch LCD and a streamlined design
(less than 1" thick) which contributes to the camera's style and operation.95 for the L3 and $249.

Passion Made Powerful with Nikon's COOLPIX P-Series

The Nikon COOLPIX P3 and P4 digital cameras combine 8.
The company also announced that Sam Fuller, Executive Vice
President of Development and Construction, will leave the company as
of April 30, 2005. 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.

skateboard tobin

com

Bell is making it easier than ever for people to express themselves through
helmets based on today's popular athletes, sporting events, fashion trends,
toys and characters. Bell is
bringing the low-ride, flame-soaked Harley look to the masses with its
line of Custom Choppers gear, including flame grips, iron cross pedals,
eight-ball valve-ends and more. Ringer Dinger: Space-age-looking bells
you twist to turn heads. More information about Bell bike
helmets and accessories is available at www. "From entry-level
to advanced technologies our designers and engineers have done an outstanding
job of adopting design styles and intuitive technology that directly address
what the consumer asks for -- a camera that looks great and performs just as
well.
Adding to the cameras' portability, each camera is AA-size battery and SD
memory card compatible. The sleek ,
modern wave design of the S Series cameras, along with 6.
*** Via PictureProject for Windows only. "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.