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Exhibit 99.1

Agreement Regarding Disclosure of Long-Term Debt Instruments

        In reliance upon Item 601(b)(4)(iii)(A) of Regulation S-K, Apartment Investment and Management Company, a Maryland corporation (the "Company"), has not filed as an exhibit to its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2004, any instrument with respect to long-term debt not being registered where the total amount of securities authorized thereunder does not exceed ten percent of the total assets of the Company and its subsidiaries on a consolidated basis. Pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K, the Company hereby agrees to furnish a copy of any such agreement to the Securities Exchange Commission upon request.

APARTMENT INVESTMENT AND MANAGEMENT COMPANY
By:	/s/  PAUL J. MCAULIFFE Paul J. McAuliffe Executive Vice President and Chief Financial Officer

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Agreement Regarding Disclosure of Long-Term Debt Instruments