SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. __)
Filed by the Registrant |X|
Filed by a Party other than the Registrant |_|
Check the appropriate box:
|_| Preliminary Proxy Statement |_| Confidential, For Use of the Commission
Only (as permitted by Rule 14a-6(e)(2))
|_| Definitive Proxy Statement
|X| Definitive Additional Materials
|_| Soliciting Material Pursuant to Rules 14a-11(c) or Rule 14a-12
Avalon Properties, Inc.
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(Name of Registrant as Specified in its Charter)
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(Name of Person(s) Filing Proxy Statement, if Other Than the
Registrant)
Payment of Filing Fee (Check the appropriate box):
|X| No fee required.
|_| Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction computed pursuant to
Exchange Act Rule 0-11 (set forth the amount on which the filing fee is
calculated and state how it was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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|_| Fee paid previously with preliminary materials:
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|_| Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number, or
the form or schedule and the date of its filing.
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(1) Amount previously paid:
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(2) Form, Schedule or Registration Statement no.:
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(3) Filing party:
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(4) Date filed:
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AVALON PROPERTIES, INC.
15 River Road, Suite 210
Wilton, Connecticut 06897-4064
May 26, 1998
Dear Fellow Stockholder:
We have previously sent to you proxy materials for the Special Meeting of Avalon
Properties, Inc. on June 4, 1998. YOUR BOARD OF DIRECTORS HAS UNANIMOUSLY
RECOMMENDED THAT STOCKHOLDERS VOTE IN FAVOR OF THE PROPOSED MERGER WITH BAY
APARTMENT COMMUNITIES, INC.
Because approval of the merger requires the affirmative vote of two-thirds of
all outstanding shares, YOUR VOTE IS EXTREMELY IMPORTANT. Remember, if you do
not vote, it will have the same effect as a vote against the merger. WHETHER OR
NOT YOU HAVE ALREADY DONE SO, PLEASE SIGN, DATE AND RETURN THE ENCLOSED PROXY
CARD TODAY IN THE ENVELOPE PROVIDED.
Very truly yours,
/s/ Richard L. Michaux
Richard L. Michaux
Chairman of the Board of Directors of
Avalon Properties, Inc.
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IMPORTANT
If you have any questions, or need assistance in voting your
shares, please
contact the firm assisting us in the solicitation of proxies:
INNISFREE M&A INCORPORATED
TOLL-FREE: 1-888-750-5834
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