Press Release

Mid-America Announces Taxable Composition of Its 2006 Distributions

Company Release - 1/22/2007 11:01 AM ET

MEMPHIS, Tenn., Jan. 22 /PRNewswire-FirstCall/ -- Mid-America Apartment Communities, Inc. (NYSE: MAA) today announced the taxable composition of its 2006 distributions paid to shareholders. The amount of distribution referred to as return of capital is considered by the Internal Revenue Service to be a return of invested capital and should be applied to reduce the shareholders' tax cost basis of the related shares. The Company did not incur any foreign taxes. The composition presented is applicable to all dividend distributions during 2006. The classifications for 2006 are as follows:


                            Cash       Ordinary   Term            Unrecaptured
     Record     Payable Distributions  Taxable   Capital Return of  Sec. 1250
      Dates      Dates    Per Share    Dividend   Gains   Capital     Gain

    1/20/2006   1/31/2006   $0.595      39.45%    0.00%    60.42%      0.13%

    4/20/2006   4/29/2006   $0.595      39.45%    0.00%    60.42%      0.13%

    7/20/2006   7/31/2006   $0.595      39.45%    0.00%    60.42%      0.13%

    10/20/2006  10/31/2006  $0.595      39.45%    0.00%    60.42%      0.13%


                         Cash      Ordinary  Long Term            Unrecaptured
                       Dividend    Taxable    Capital   Return of   Sec. 1250
        Series         per Share   Dividend    Gain      Capital      Gain
    Series F
     (CUSIP#59522J608)  $2.3124     99.67%     0.00%      0.00%       0.33%
    Series H
     (CUSIP#59522J806)   $2.075     99.67%     0.00%      0.00%       0.33%

The Long Term Capital Gain Distributions qualify for the 15% Reduced Tax Rate on Capital Gains. Please note REIT Ordinary Taxable Dividends, by law, do not qualify for the Reduced Tax Rate of 15%.

This release is based on the preliminary work the company has performed on its filings and is subject to correction or adjustment based on the completion of those filings. The company is releasing information at this time to aid those required to distribute 1099s on the company's dividends. No material change in the taxable composition is expected.

MAA is a self-administered, self-managed apartment-only real estate investment trust, which owns or has ownership interest in 40,293 apartment units throughout the Sunbelt Region of the U.S. For further details, please refer to our website at or contact Investor Relations at or (901) 435-5371. 6584 Poplar Ave., Suite 300, Memphis, TN 38138.

SOURCE Mid-America Apartment Communities, Inc.

Contact: Investor Relations of Mid-America Apartment Communities, +1-901-435-5371, or