Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On November 7, 2008, Apartment Investment and Management Company ("Aimco") filed four Certificates of Correction to Aimco's Articles of Restatement. The Certificates of Correction address a transcription error in articles supplementary for each of the Class T Cumulative Preferred Stock, Class U Cumulative Preferred Stock, Class V Cumulative Preferred Stock and Class Y Cumulative Preferred Stock (together the "Preferred Shares"). For each class of Preferred Shares, Article Third, Section 5(c) of the articles supplementary had been incorrectly drafted as two separate sentences, which made absolute the limitations on Aimco's acquisition of Preferred Shares. The Certificates of Correction rectify the transcription error and condition the limitations on Aimco's acquisition of any class of Preferred Shares on Aimco's failure to pay full cumulative dividends on such class of Preferred Shares.

The Certificates of Correction are filed as Exhibit 3.1 to this report and are incorporated herein by reference.

---

Top of the Form