National Property Investors 5 (NONE)

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Ticker: NONE

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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APARTMENT INVESTMENT & MANAGEMENT CO

1 purchase — total 192 USD

Buy 14 May 2004

Value US$4,692,401.28 | Price 108.39 | Shares 80,956

APARTMENT INVESTMENT & MANAGEMENT CO

2 purchases — total 320 USD

Buy 25 Feb 2004

Value US$446,853.02 | Price 390.31 | Shares 98,035

Buy 25 Feb 2004

Value US$3,622,262.50 | Price 381.85 | Shares 61,982

APARTMENT INVESTMENT & MANAGEMENT CO

2 purchases — total 14,853 USD

Buy 31 Dec 2003

Value US$0.00 | Price 0.00 | Shares 0

Buy 31 Dec 2003

Value US$14,852.50 | Price 4.57 | Shares 3,250

Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	B/S Transaction type	Insider and/or position	Nb. shares Price Value	Number of shares	Price	Value
2004-05-21	2004-05-14	B Purchase	APARTMENT INVESTMENT & MANAGEMENT CO Large shareholder	80,956 +2.3% 108.39 US$4,692,401	80,956 +2.3%	108.39	US$4,692,401
2004-03-02	2004-02-25	B Purchase	APARTMENT INVESTMENT & MANAGEMENT CO Large shareholder	98,035 390.31 US$446,853	98,035	390.31	US$446,853
2004-03-02	2004-02-25	B Purchase	APARTMENT INVESTMENT & MANAGEMENT CO Large shareholder	61,982 +11.1% 381.85 US$3,622,262	61,982 +11.1%	381.85	US$3,622,262
2004-01-30	2003-12-31	B Purchase	APARTMENT INVESTMENT & MANAGEMENT CO Large shareholder	0 0.00 US$0	0	0.00	US$0
2004-01-30	2003-12-31	B Purchase	APARTMENT INVESTMENT & MANAGEMENT CO Large shareholder	3,250 +24.3% 4.57 US$14,852	3,250 +24.3%	4.57	US$14,852

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