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Preferred Apartment Communities, Inc. Announces Estimated Income Tax Treatment of 2013 Distributions

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(CUSIP #'s 74039L 202, 74039L 301, 74039L 400, 74039L 707, 74039L 806, 74039L 889, 74039L 871, 74039L 863, 74039L 855, 74039L 848, 74039L 822, 74039L 830, 74039L 814 and 74039L 798, 74039L 780, 74039L 772, 74039L 756, 74039L 749, 74039L 731, 74039L 723, 74039L 715, 74039L 699, 74039L 681, 74039L 673, 74039L 665, 74039L 657, 74039L 640, 74039L 632, 74039L 624, 74039L 616, 74039L 590, 74039L 582, 74039L 574, 74039L 566, 74039L 558, 74039L 541, 74039L 533, 74039C 202)

     (1) Dividend amount shown is for the full month in which the record date occurs. This amount is subject

           to additional amounts paid on shares of Series A Redeemable Preferred Stock issued in the month

           prior to the record date for the period from the date of issuance to the end of the month prior to the

           record date. Notwithstanding the different amounts, the classification for federal income tax purposes

           is not altered.

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