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Afl Cio Housing Investment Trust – ‘497’ on 2/14/05

On: Monday, 2/14/05, at 5:52pm ET · As of: 2/15/05 · Effective: 2/15/05 · Accession #: 1026777-5-3 · File #: 333-59762

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 2/15/05  Afl Cio Housing Investment Trust  497         2/15/05    1:18K                                    Swidler Berlin S… LLP/FA

Definitive Material — Rule 497
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 497         Website Performance Update for January 31, 2005        8     39K 

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[THE FOLLOWING IS MATERIAL CONTAINED ON THE WEBSITE OF THE AFL-CIO HOUSING      
INVESTMENT TRUST]                                                               

Legal Disclaimer REGARDING THIS AFL-CIO HOUSING INVESTMENT TRUST WEBSITE        

Your use of this AFL-CIO Housing Investment Trust ("Trust") website is subject  
to the conditions and qualifications described below. By using this AFL-CIO     
Housing Investment Trust website, you agree to accept such conditions and       
qualifications. Any information herein is intended to be general in nature and  
for current interest. While helpful, this information is no substitute for      
professional tax, financial or legal advice. Investors should seek such         
professional advice for their particular situation. Neither the Trust nor any   
of its affiliates or representatives is providing tax, financial or legal       
advice.                                                                         

NO WARRANTIES; LIMITATION OF LIABILITY. The information, charts, documents and  
other materials herein (collectively, the "Website") IS SUBJECT TO CHANGE       
WITHOUT NOTICE. The information on this site is provided "AS IS". The Trust     
expressly disclaims any obligation to keep the Website up to date or free of    
errors or viruses, or to maintain uninterrupted access to this Website. The     
Trust does not warrant the accuracy of the information or materials provided    
herein, either expressly or impliedly.                                          

The Trust will not be responsible for any loss or damage that could result      
from interception by third parties of any information made available to you     
via this site. Although the information provided to you on this site is         
obtained or compiled from sources we believe to be reliable, the Trust cannot   
and does not guarantee the accuracy, validity, timeliness or completeness of    
any information or data made available to you for any particular purpose.       
Neither the Trust, nor any of its affiliates, directors, officers or            
employees, trustees or participants, nor any third party vendor will be liable  
or have any responsibility of any kind for any loss or damage that you incur    
in the event of any failure or interruption of this site, or resulting from     
the act or omission of any other party involved in making this site or the      
information or data contained therein available to you, or from any other       
cause relating to your access to, inability to access, or use of the site or    
these materials, whether or not the circumstances giving rise to such cause     
may have been within the control of the Trust or of any vendor providing        
software or services support. THE TRUST IS NOT RESPONSIBLE FOR ERRORS OR        
OMISSIONS IN THE WEBSITE OR IN ANY WEBSITE LINKED (BY HYPERTEXT LINKS) TO       
THIRD PARTY WEBSITES. THE TRUST MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY   
KIND WHATSOEVER FOR THE WEBSITE OR THIRD PARTY WEBSITES OR FOR ANY PRODUCTS OR  
SERVICES MENTIONED OR OFFERED IN THE WEBSITE OR IN THIRD PARTY WEBSITES.        

THE TRUST DISCLAIMS ANY EXPRESS OR IMPLIED WARRANTIES RELATED TO THE USE OF     
THIS WEBSITE INCLUDING, WITHOUT LIMITATION, MERCHANTABILITY, SUITABILITY,       
NONINFRINGEMENT, OR FITNESS FOR ANY PARTICULAR PURPOSE.                         

THE TRUST SHALL NOT BE LIABLE FOR ANY ERRORS CONTAINED HEREIN OR FOR ANY        
DAMAGES WHATSOEVER ARISING OUT OF OR RELATED TO THE USE OF THIS WEBSITE,        
INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, INCIDENTAL, SPECIAL,           
CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER UNDER A CONTRACT, TORT OR ANY OTHER  
THEORY OF LIABILITY, EVEN IF THE TRUST IS AWARE OF THE POSSIBILITY OF SUCH      
ERRORS OR DAMAGES.                                                              

NO OFFER OR SOLICITATION REGARDING INVESTMENT IN THE TRUST. This Website        
includes general information on the Trust's performance. Past performance does  
not mean that the Trust will achieve similar results in the future. This        
Website does not constitute a solicitation to invest in the Trust. Units in     
the Trust are offered by prospectus only. The Prospectus contains more          
complete information about the Trust and units in the Trust, and should be      
read carefully before investing or sending money. For more information on       
investing in the Trust or to request a prospectus, please contact the Director  
of Marketing and Investor Relations. The information provided on this site is   
not intended for distribution to, or use by, any person or entity in any        
jurisdiction or country where such distribution or use would be contrary to     
law or regulation or where such distribution or use would subject the Trust or  
its affiliates to any registration requirement within such jurisdiction or      
country. Neither the information, nor any opinion contained in this site        
constitutes a solicitation or offer by the Trust or its affiliates to buy or    
sell any securities, futures, options or other financial instruments or         
provide any investment advice or service.                                       

RESERVATION OF RIGHTS. This Website (including, without limitation, the         
graphics, icons, and overall appearance of the Trust's Website and the          
information contained therein) is the property of the Trust. The Trust does     
not waive any of its proprietary rights herein including, but not limited to,   
copyrights, trademarks and other intellectual property rights. No user of this  
Website may resell, republish, print, download or copy any portion of this      
Website for commercial use without the prior written consent of the Trust,      
except that reasonable copying or printing of information in the Website for    
individual, non-commercial use is permissible where permitted by law. The       
availability of any information through this Website shall under no             
circumstance constitute a transfer of any copyrights, trademarks or other       
intellectual property rights of the Trust to any Website user or any third      
party. This Website is protected by U.S. and international copyright laws,      
both as individual works and as a compilation. You may not delete any           
copyright or similar notice from any part of this Website.                      

USE IN CONFORMITY WITH LAW. Your use of this website constitutes your           
agreement to comply with all applicable federal, state and local laws and       
regulations governing such use.                                                 

Copyright 2003 AFL-CIO Housing Investment Trust                                 
All rights reserved                                                             

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[LOGO OF AFL-CIO HOUSING INVESTMENT TRUST]                                      

COMPANY NEWS                                                                  
PERFORMANCE                                                                   
INVESTMENT PRODUCTS                                                           
UNION LABOR                                                                   
PROJECTS                                                                      
COMPANY PROFILE                                                               
CONTACT US                                                                    
SEARCH                                                                        

AFL-CIO HOUSING INVESTMENT TRUST                                                
PERFORMANCE                                                                     
as of January 31, 2005                                                          

The Trust seeks to provide competitive risk-adjusted returns to its benchmark,  
the Lehman Aggregate Bond Index. The Trust strives to achieve superior          
risk-adjusted performance by investing in assets that provide premium income,   
while maintaining a portfolio risk profile comparable to our benchmark. This    
combination of investment and risk management has enabled the Trust to compile  
a successful record of performance and to attract additional funds to manage    
from both new and current Participants.                                         

The performance data shown on this web site represents past performance and     
does not mean that the Trust will achieve similar results in the future.  The   
investment return and principal value of an investment in the Trust will        
fluctuate so that an investor's shares, when redeemed, may be worth more or     
less than their original cost.  A Prospectus containing more complete           
information may be obtained from the Trust by contacting the Director of        
Marketing and Investor Relations.  The Prospectus sets forth information about  
the Trust that an investor should read carefully before investing.              

[Bracketed items below identify icons indicating            
links to various charts and graphs]           

[Net Asset Growth]                  [Value Growth of $50,000 Invested]          
[Annualized Returns]                [Credit Quality]                            
[Annual Returns]                    [Portfolio Characteristics]                 

[Download a PDF file of the Performance Information]

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[LOGO OF AFL-CIO HOUSING INVESTMENT TRUST]                                      

COMPANY NEWS                                                                  
PERFORMANCE                                                                   
INVESTMENT PRODUCTS                                                           
UNION LABOR                                                                   
PROJECTS                                                                      
COMPANY PROFILE                                                               
CONTACT US                                                                    
SEARCH                                                                        

AFL-CIO HOUSING INVESTMENT TRUST                                                
PERFORMANCE                                                                     
as of January 31, 2005                                                          

NET ASSET GROWTH - January 31, 1995 - January 31, 2005                          

Period       $ in Millions                                                      
-------      -------------                                                      
Jan-95         957.6                                                            
Jan-96       1,179.2                                                            
Jan-97       1,388.4                                                            
Jan-98       1,692.2                                                            
Jan-99       2,063.2                                                            
Jan-00       2,139.0                                                            
Jan-01       2,522.6                                                            
Jan-02       2,775.3                                                            
Jan-03       3,388.6                                                            
Jan-04       3,624.7                                                            
Jan-05       3,686.5                                                            

- Net asset growth for the period January 31, 1995 to January 31, 2005 is       
approximately 15.2% on an annual basis.                                     

The Trust is a fixed-income fund in which historically the main component of    
the Trust's performance is interest income on investments. Apart from           
deducting operating expenses, all Trust income is distributed monthly to        
Participants.                                                                   

- Approximately 87% of monthly distributions are automatically reinvested by    
our Participants.                                                           

[Back to Performance]                                                           

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[LOGO OF AFL-CIO HOUSING INVESTMENT TRUST]                                      

COMPANY NEWS                                                                  
PERFORMANCE                                                                   
INVESTMENT PRODUCTS                                                           
UNION LABOR                                                                   
PROJECTS                                                                      
COMPANY PROFILE                                                               
CONTACT US                                                                    
SEARCH                                                                        

AFL-CIO HOUSING INVESTMENT TRUST                                                
PERFORMANCE                                                                     
as of January 31, 2005                                                          

Annual Returns - Periods ended January 31, 2005                                 

Lehman Aggregate                      
HIT (1)     Bond Index (2)                                  

1 Year    4.01%         4.16%                                                 
3 Year    6.41%         6.13%                                                 
5 Year    8.22%         7.92%                                                 
10 Year    7.99%         7.58%                                                  

(1) Returns shown reflect the net return of an investment for the     
       specified periods (after the deduction of the Trust's expenses).  The
       HIT does not assess a sales charge (load) on the purchase of Units of
participation ("Units") in the Trust, any fee on the sale or  
redemption of Units, or any other exchange fee or account fee.
 Participants pay only for the actual administrative expenses of
operating the Trust.                                          
(2) The Lehman Brothers Aggregate Bond index does not reflect the     
   performance of an actual portfolio open for direct investment and
      thus does not reflect a deduction for the expenses of operating such
       a portfolio.  Investors are not likely to be able to manage an actual
portfolio without incurring expenses.                         

- Net assets for the period ended January 31, 2005 and the ratio of total       
year to date expenses to average net assets for the period ended December   
31, 2005.                                                                   

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[LOGO OF AFL-CIO HOUSING INVESTMENT TRUST]                                      

COMPANY NEWS                                                                  
PERFORMANCE                                                                   
INVESTMENT PRODUCTS                                                           
UNION LABOR                                                                   
PROJECTS                                                                      
COMPANY PROFILE                                                               
CONTACT US                                                                    
SEARCH                                                                        

AFL-CIO HOUSING INVESTMENT TRUST                                                
PERFORMANCE                                                                     
as of January 31, 2005                                                          

Returns - One Year Moving Average                                               

Lehman                                                        
Aggregate                                                         
Bond Index      HIT                                                 
----------      ----                                                
Jan-00    2.27%       2.29%                                                     
Feb-00    1.84%       1.86%                                                     
Mar-00    1.46%       1.44%                                                     
Apr-00    1.04%       1.03%                                                     
May-00    0.85%       0.83%                                                     
Jun-00    0.97%       0.94%                                                     
Jul-00    1.26%       1.38%                                                     
Aug-00    1.82%       2.08%                                                     
Sep-00    2.44%       2.68%                                                     
Oct-00    3.00%       3.33%                                                     
Nov-00    3.76%       4.16%                                                     
Dec-00    4.80%       5.23%                                                     
Jan-01    6.10%       6.63%                                                     
Feb-01    7.13%       7.75%                                                     
Mar-01    8.02%       8.75%                                                     
Apr-01    8.95%       9.73%                                                     
May-01    9.86%      10.72%                                                     
Jun-01   10.42%      11.28%                                                     
Jul-01   10.98%      11.82%                                                     
Aug-01   11.38%      12.10%                                                     
Sep-01   11.88%      12.47%                                                     
Oct-01   12.48%      12.88%                                                     
Nov-01   12.66%      12.92%                                                     
Dec-01   12.39%      12.57%                                                     
Jan-02   11.87%      11.93%                                                     
Feb-02   11.39%      11.41%                                                     
Mar-02   10.79%      10.81%                                                     
Apr-02   10.41%      10.49%                                                     
May-02    9.99%      10.10%                                                     
Jun-02    9.78%      10.02%                                                     
Jul-02    9.35%       9.70%                                                     
Aug-02    8.99%       9.47%                                                     
Sep-02    8.63%       9.22%                                                     
Oct-02    7.91%       8.73%                                                     
Nov-02    7.59%       8.58%                                                     
Dec-02    7.74%       8.86%                                                     
Jan-03    7.90%       9.15%                                                     
Feb-03    8.08%       9.35%                                                     
Mar-03    8.61%       9.85%                                                     
Apr-03    8.83%       9.94%                                                     
May-03    9.12%      10.14%                                                     
Jun-03    9.27%      10.14%                                                     
Jul-03    9.09%       9.73%                                                     
Aug-03    8.78%       9.25%                                                     
Sep-03    8.51%       8.89%                                                     
Oct-03    8.43%       8.58%                                                     
Nov-03    8.25%       8.25%                                                     
Dec-03    7.74%       7.59%                                                     
Jan-04    7.36%       7.09%                                                     
Feb-04    6.91%       6.59%                                                     
Mar-03    6.38%       6.02%                                                     
Apr-04    5.66%       5.30%                                                     
May-04    4.66%       4.29%                                                     
Jun-04    3.82%       3.43%                                                     
Jul-04    3.77%       3.48%                                                     
Aug-04    3.92%       3.70%                                                     
Sep-04    3.78%       3.58%                                                     
Oct-04    3.83%       3.69%                                                     
Nov-04    3.77%       3.65%                                                     
Dec-04    3.79%       3.68%                                                     
Jan-05    3.73%       3.63%                                                     

-  Returns shown reflect the growth of an investment for the specified          
periods.  Returns are calculated net, after the deduction of the Trust's  
expenses.                                                                 
-  The Lehman Brothers Aggregate Bond Index does not reflect the performance    
 of an actual portfolio open for direct investment and thus does not reflect
a deduction for the expenses of operating such a portfolio.  Investors are
not likely to be able to manage an actual portfolio without incurring     
expenses.                                                                 
-  Moving averages smooth the lines in order to highlight the trend rather      
than the exact value at a specific point.  Each point on this chart       
represents the average of the previous twelve months annual returns.      

FUND PERFORMANCE AND STRATEGY HIGHLIGHTS                                        

-  As of January 31, 2005, the Trust had a one-year net return of 4.01%, a      
five-year net return of 8.22% and a ten-year net return of 7.99% while    
the Trust's benchmark, the Lehman Aggregate Bond Index had a one-year     
return of 4.16%, a five-year return of 7.92% and a ten-year return of     
7.58% respectively.                                                       
-  The Trust is a commingled fixed income fund that primarily invests           
in high quality fixed income investments such as: Agency MBS, US          
Treasuries and US Agency Notes. The Trust emphasizes investment in high   
quality mortgage securities that produce current income and generate      
competitive, risk-adjusted total returns. The Trust specializes in        
Agency-Insured Multifamily MBS, which have significant call protections.  
-  The Trust is one of the largest institutional investors in Agency-           
Insured Multifamily MBS, and specializes in securities that finance new   
construction or rehabilitation of housing-related projects throughout     
the country. These securities carry an Agency guarantee and provide       
generous yields relative to U.S. Treasuries, and possess excellent        
total return profiles.  Such investments allow the Trust to create        
needed housing and union jobs in the building and construction trades     
and related industries.                                                   
-  Risk management plays a significant role in the Trust's portfolio            
management strategy. Risk factors such as credit, interest rate,          
prepayment, and event risk are constantly monitored, modeled and          
managed with the goal of generating competitive risk-adjusted total rates 
of return for participants.                                               

[Back to Performance]                                                           

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[LOGO OF AFL-CIO HOUSING INVESTMENT TRUST]                                      

COMPANY NEWS                                                                  
PERFORMANCE                                                                   
INVESTMENT PRODUCTS                                                           
UNION LABOR                                                                   
PROJECTS                                                                      
COMPANY PROFILE                                                               
CONTACT US                                                                    
SEARCH                                                                        

AFL-CIO HOUSING INVESTMENT TRUST                                                
PERFORMANCE                                                                     
as of January 31, 2005                                                          

Value Growth of $50,000 Invested                                                

Lehman                                                      
Aggregate                      Average Annual Total Return      
Period  Bond Index    HIT              for the periods ended                    
-------  ----------   -----            January 31, 2005                         
($ in Thousands)                                              
                One Year     4.01%
                Five Year    8.22%
                Ten Year     7.99%
Jan-95    50.00      50.00                                                      
Jan-96    58.47      58.72                                                      
Jan-97    60.38      61.49                                                      
Jan-98    66.85      68.60                                                      
Jan-99    72.25      73.97                                                      
Jan-00    70.92      72.66                                                      
Jan-01    80.72      83.49                                                      
Jan-02    86.83      89.53                                                      
Jan-03    95.04      99.11                                                      
Jan-04    99.66     103.71                                                      
Jan-05   103.80     107.87                                                      

The chart shows the comparative value growth of $50,000 invested in the Trust   
(minimum initial investment) and its benchmark (theoretical values) over        
the course of ten years, assuming the reinvestment of all distributions.        

[Back to Performance]                                                           

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AFL-CIO HOUSING INVESTMENT TRUST                                                
PERFORMANCE                                                                     

[LOGO OF AFL-CIO HOUSING INVESTMENT TRUST]                                      

COMPANY NEWS                                                                  
PERFORMANCE                                                                   
INVESTMENT PRODUCTS                                                           
UNION LABOR                                                                   
PROJECTS                                                                      
COMPANY PROFILE                                                               
CONTACT US                                                                    
SEARCH                                                                        

Credit Quality                                                                  

-  The Trust invests primarily in securities guaranteed or insured by the       
federal government or government sponsored enterprises.                   

-  At January 31, 2005, 97.2% of the portfolio was issued, guaranteed or        
insured by the US Treasury, Federal Housing Administration, Ginnie Mae,   
Fannie Mae, Freddie Mac and Federal Home Loan Banks and 0.2% was          
State Housing Finance Agency Securities guaranteed or insured by state    
or local governments or agencies.                                         

-  The Trust's short-term investments are invested in A-1 or P-1 rated          
commercial paper, Treasury/Agency quality money market funds, repurchase  
agreements and discount notes.                                            

[Back to Performance]                                                           

497 Last Page of 8 TOC 1st Previous Next ↓Bottom Just 8th
PERFORMANCE                                                                     

PORTFOLIO ALLOCATION* - January 31, 2005                                        

Multifamily Construction Mortgage-Backed Securities             12.52%          
Cash and Cash Equivalents                                        5.53%          
Short Term Intermediate Securities                               2.06%          
Single Family Mortgage Backed Securities                        27.53%          
Government Sponsored Enterprise Notes                            6.59%          
United States Treasury Notes                                     4.50%          
Multifamily Permanent Mortgage-Backed Securities                38.53%          
State Housing Finance Agency Securities                          0.15%          
Construction and Permanent Mortgages                             2.59%          

*Includes funded and unfunded commitments                                       

-     Construction related mortgage-backed securities - The Trust invests in    
 fixed-income securities that finance the construction of multi-family
 properties.  These securities generally have credit enhancements from
FHA, GNMA, Freddie Mac or a letter of credit or repurchase guarantee
from an entity rated A or better by Standard and Poors.  These      
securities generally fund over 12-24 months and upon completion of  
construction, a permanent security is issued.  These securities     
typically generate yields above U.S. Treasury investments with      
comparable average lives and generally have significant prepayment  
protections.                                                        

-     Mortgage-backed securities backed by permanent mortgage loans - The       
 Trust invests in securities that are either backed by permanent loans
for multi-family properties or by loans for existing single family  
homes.  These FHA, GNMA, Fannie Mae, or Freddie Mac credit enhanced 
investments typically generate yield spreads above U.S. Treasury    
  investments with comparable average lives.  Additionally, multi-family
mortgage-backed securities generally have significant prepayment    
protections.                                                        

-     State Housing Finance Agency Securities - The Trust invests in            
 securities that are guaranteed or insured by a state or local housing
    finance agency (A rated or better or top tier by Standard and Poors) and
are backed by both construction and permanent loans for multi-family
properties.                                                         

[Back to Performance]

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘497’ Filing	Date	First	Last	Other Filings

	12/31/05	4		24F-2NT, N-CSR, NSAR-B
Filed as of / Effective on:	2/15/05
Filed on:	2/14/05
	1/31/05	2	8
	1/31/95	3
				List all Filings

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Filing Submission 0001026777-05-000003 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Afl Cio Housing Investment Trust – ‘497’ on 2/14/05

On: Monday, 2/14/05, at 5:52pm ET · As of: 2/15/05 · Effective: 2/15/05 · Accession #: 1026777-5-3 · File #: 333-59762

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Definitive Material — Rule 497Filing Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Definitive Material — Rule 497
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