AvalonBay to Join S & P; 500

AvalonBay Communities Inc., a real estate investment trust with a large presence in the greater San Fernando Valley, was selected as a constituent of Standard & Poor’s S & P; 500 on a date to be determined. AvalonBay will replace Symbol Technologies Inc., which is being acquired by Motorola Inc. AvalonBay is already a constituent of the S & P; REIT Composite. The company’s local holdings include apartment communities in Woodland Hills and AvalonBay is currently building the first Ventura Boulevard apartment complex in Encino.