Press Release

Mid-America Apartment Communities Announces Taxable Composition of Its 2008 Distributions

Company Release - 1/22/2009 10:50 AM ET

MEMPHIS, Tenn., Jan. 22 /PRNewswire-FirstCall/ -- Mid-America Apartment Communities, Inc. (NYSE: MAA) today announced the taxable composition of its 2008 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 is not currently taxable. This amount 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 2008. The classifications for 2008 are as follows:


    COMMON SHARES (CUSIP NO. 59522J103)

    Record      Payable   Cash      Ordinary Long Term Return of  Unrecaptured
    Dates       Dates     Distri-   Taxable  Capital   Capital    Sec. 1250
                          butions   Dividend Gains                Gain
                          Per Share

    1/15/2008  1/31/2008   $0.615   58.18 %   0.00 %   41.82 %    0.00 %
    4/15/2008  4/30/2008   $0.615   58.18 %   0.00 %   41.82 %    0.00 %
    7/15/2008  7/31/2008   $0.615   58.18 %   0.00 %   41.82 %    0.00 %
    10/15/2008 10/31/2008  $0.615   58.18 %   0.00 %   41.82 %    0.00 %


    PREFERRED SHARES

    Series             Cash       Ordinary  Long Term  Return of  Unrecaptured
                       Dividend   Taxable   Capital    Capital    Sec. 1250
                       per Share  Dividend  Gain                  Gain

    Series H (CUSIP#
     59522J806)          $2.0750    100 %     0.00 %    0.00 %    0.00 %


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 42,554 apartment units throughout the Sunbelt region of the U.S.

6584 Poplar Avenue, Memphis, TN 38138, (901) 682-6600 FAX: (901) 682-6667

Web-Site: www.maac.net

SOURCE Mid-America Apartment Communities, Inc.

Contact: Investor Relations of Mid-America Apartment Communities, Inc., +1-901-682-6600, investor.relations@maac.net