MID-AMERICA APARTMENT COMMUNITIES, INC.
                           A Self-managed Equity REIT


Memphis, TN: January 22, 2002.  Mid-America  Apartment  Communities,  Inc. (MAA:
NYSE) today announced the taxable  composition of its 2001 distributions paid to
shareholders.  The amount of  distribution  referred  to as return of capital is
considered by the Internal  Revenue  Service to be a return of invested  capital
and should be applied to reduce the  shareholders' tax cost basis of the related
shares.  The composition  presented is applicable to all dividend  distributions
during 2001.



- -------------------------------------------------------------------------------------------------------------
                                      Common Shares (CUSIP# 59522J103)
- -------------------------------------------------------------------------------------------------------------
   Record Date        Payment Date     Cash Dividend        Ordinary         Long Term         Return of
                                         per Share      Taxable Dividend    Capital Gain        Capital
- ------------------- ----------------- ----------------- ----------------- ----------------- -----------------
                                                                               
    1/24/2001          1/31/2001          $ 0.585            54.8843%          13.7058%          31.4099%
    4/23/2001          4/30/2001          $ 0.585            54.8843%          13.7058%          31.4099%
    7/24/2001          7/31/2001          $ 0.585            54.8843%          13.7058%          31.4099%
    10/24/2001         10/31/2001         $ 0.585            54.8843%          13.7058%          31.4099%



- --------------------------------------------------------------------------------------------------------------
                                              Preferred Shares
- --------------------------------------------------------------------------------------------------------------
               Series                   Cash Dividend       Ordinary         Long Term      Return of Capital
                                          per Share     Taxable Dividend    Capital Gain
- -------------------------------------- ---------------- ----------------- ----------------- ------------------
                                                                                  
A (CUSIP# 59522J202)                      $ 2.3748          94.5893%          5.4107%            0.00 %
B (CUSIP# 59522J301)                      $ 2.2188          94.5893%          5.4107%            0.00 %
C (CUSIP# 59522J400)                      $ 2.3436          94.5893%          5.4107%            0.00 %


This release is based on the  preliminary  work the company has performed on its
filings and is subject to correction or  adjustment  based on the  completion of
those  filings.  The company is releasing  information at this time to aid those
required to distribute 1099s on the company's  dividends.  No material change in
the taxable composition is expected.


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchnage  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                    MID-AMERICA APARTMENT COMMUNITIES, INC.

Date:  January 22, 2002             /s/Simon R.C. Wadsworth
                                    Simon R.C. Wadsworth
                                    Executive Vice President
                                    (Principal Financial and Accounting Officer)