CONTACT: The Altman Group, Inc.
         (800) 467-0821 (toll free)

FOR IMMEDIATE RELEASE

           AIMCO PROPERTIES, L.P. ANNOUNCES EXTENSION OF TENDER OFFERS


                  DENVER, COLORADO, July 15, 2005 - As previously announced,
AIMCO Properties, L.P. is offering to purchase units of limited partnership
interest in the partnerships set forth below, subject to the terms of their
respective Offers to Purchase and related Letters of Transmittal (as amended and
supplemented, the "Offers"). AIMCO Properties, L.P. has now extended the
expiration date of each of the Offers to midnight, New York City time, on July
20, 2005. The Offers were previously scheduled to expire at midnight, New York
City time, on July 15, 2005. AIMCO Properties, L.P. has reported, based on
information provided by the Information Agent for the Offers, that as of the
close of business on July 14, 2005, the approximate number of units set forth
below had been tendered pursuant to each of the Offers.




Name of Partnership                                     Number of Units Tendered
-------------------                                     ------------------------
                                                     
Century Properties Fund XIX                             4,700

National Property Investors III                         897


                  For further information, please contact The Altman Group, Inc.
at (800) 467-0821 (toll free), which is acting as the Information Agent for the
Offers.