FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION
                        13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

                        Quarterly or Transitional Report

                  United States SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                   For the quarterly period ended March 31, 2000

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934


                For the transition period from _________to _________

                         Commission file number 0-11934

                           CENTURY PROPERTIES FUND XVIII
         (Exact name of small business issuer as specified in its charter)



         California                                             94-2834149
(State or other jurisdiction of                              (I.R.S. Employer
 incorporation or organization)                             Identification No.)

                          55 Beattie Place, P.O. Box 1089
                        Greenville, South Carolina 29602

                      (Address of principal executive offices)

                                 (864) 239-1000

                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X No

                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS

a)

                          CENTURY PROPERTIES FUND XVIII

                           CONSOLIDATED BALANCE SHEET

                                   (Unaudited)

                          (in thousands, except unit data)

                                 March 31, 2000
<TABLE>
<CAPTION>

Assets

<S>                                                          <C>             <C>
   Cash and cash equivalents                                                $   380
   Receivables and deposits                                                      76
   Restricted escrows                                                           181
   Other assets                                                                 350
   Investment properties:
      Land                                                   $  7,296
      Buildings and related personal property                  20,756
                                                               28,052
      Less accumulated depreciation                           (11,390)       16,662
                                                                           $ 17,649

Liabilities and Partners' (Deficit) Capital
Liabilities

   Accounts payable                                                        $     41
   Other liabilities                                                            194
   Accrued property taxes                                                       120
   Tenant security deposit liabilities                                           69
   Mortgage notes payable                                                    19,184

Partners' (Deficit) Capital

   General partner                                           $ (6,285)
   Limited partners (75,000 units issued and
      outstanding)                                              4,326        (1,959)
                                                                           $ 17,649

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

b)

                          CENTURY PROPERTIES FUND XVIII

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (Unaudited)

                          (in thousands, except unit data)

                                                       Three Months Ended
                                                           March 31,
                                                       2000        1999
Revenues:
   Rental income                                     $ 1,193     $ 1,207
   Other income                                           59          65
      Total revenues                                   1,252       1,272

Expenses:
   Operating                                             403         384
   General and administrative                             56          55
   Depreciation                                          196         167
   Interest                                              348         349
   Property tax                                          111         118
      Total expenses                                   1,114       1,073

Net income                                            $  138      $  199

Net income allocated to general partner (9.9%)        $   14      $   20
Net income allocated to limited partners (90.1%)         124         179
                                                      $  138      $  199

Net income per limited partnership unit               $ 1.65      $ 2.39

Distributions per limited partnership unit            $ 2.91      $ 9.91

            See Accompanying Notes to Consolidated Financial Statements


c)

                           CENTURY PROPERTIES FUND XVIII
          CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                   (Unaudited)

                          (in thousands, except unit data)


<TABLE>
<CAPTION>

                                     Limited
                                   Partnership   General      Limited
                                      Units      Partner     Partners       Total

<S>                                   <C>        <C>         <C>           <C>
Original capital contributions        75,000     $    --     $75,000       $75,000

Partners' (deficit) capital
   at December 31, 1999               75,000     $(6,297)    $ 4,420       $(1,877)

Distribution to partners                 --           (2)       (218)         (220)

Net income for the three months
   ended March 31, 2000                  --           14         124           138

Partners' (deficit) capital
   at March 31, 2000                  75,000     $(6,285)    $ 4,326       $(1,959)


            See Accompanying Notes to Consolidated Financial Statements
</TABLE>


d)
                          CENTURY PROPERTIES FUND XVIII

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)
                                  (in thousands)

<TABLE>
<CAPTION>
                                                                 Three Months Ended
                                                                       March 31,

                                                                  2000        1999
Cash flows from operating activities:

<S>                                                              <C>          <C>
  Net income                                                     $   138      $ 199
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                      196         167
   Amortization of loan costs                                         19          14
   Change in accounts:
      Receivables and deposits                                       378         263
      Other assets                                                   (32)          7
      Accounts payable                                               (21)         --
      Other liabilities                                              (39)          3
      Accrued property taxes                                        (246)       (234)
      Tenant security deposit liabilities                            (1)          (5)
       Net cash provided by operating activities                     392         414

Cash flows from investing activities:

  Property improvements and replacements                            (188)        (68)
  Net (deposits to) withdrawals from restricted escrows              (27)        104
       Net cash (used in) provided by investing activities          (215)         36

Cash flows from financing activities:

  Distributions to partners                                         (220)       (750)
  Payments on mortgage notes payable                                 (39)        (52)
       Net cash used in financing activities                        (259)       (802)

Net decrease in cash and cash equivalents                            (82)       (352)
Cash and cash equivalents at beginning of period                     462       1,477
Cash and cash equivalents at end of period                     $     380     $ 1,125

Supplemental disclosure of cash flow information:

  Cash paid for interest                                       $     218      $ 335

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

e)
                          CENTURY PROPERTIES FUND XVIII

                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

Note A - Basis of Presentation

The  accompanying   unaudited   consolidated  financial  statements  of  Century
Properties Fund XVIII (the  "Partnership" or "Registrant") have been prepared in
accordance with generally accepted  accounting  principles for interim financial
information  and  with the  instructions  to Form  10-QSB  and  Item  310(b)  of
Regulation  S-B.  Accordingly,  they do not include all of the  information  and
footnotes  required by generally  accepted  accounting  principles  for complete
financial  statements.  The Partnership's  general partner is Fox Partners.  The
general partners of Fox Partners are Fox Capital Management  Corporation ("FCMC"
or the  "Managing  General  Partner"),  Fox  Realty  Investors  ("FRI")  and Fox
Partners  82. The Managing  General  Partner,  as well as the  managing  general
partner of FRI, are affiliates of Apartment  Investment  and Management  Company
("AIMCO"), a publicly traded real estate investment trust. In the opinion of the
Managing  General  Partner,  all  adjustments  (consisting  of normal  recurring
accruals)  considered  necessary  for a fair  presentation  have been  included.
Operating  results  for the three  month  period  ended  March 31,  2000 are not
necessarily  indicative  of the results that may be expected for the fiscal year
ending  December 31, 2000. For further  information,  refer to the  consolidated
financial  statements and footnotes thereto included in the Partnership's Annual
Report on Form 10-KSB for the year ended December 31, 1999.

Principles of Consolidation

The Partnership's  financial  statements include the accounts of the Partnership
and its  wholly-owned  partnership,  Oak Run LP, the entity which holds title to
Oak Run Apartments.

Note B - Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia Financial Group, Inc. and Insignia Properties Trust
merged into AIMCO, a publicly traded real estate  investment  trust,  with AIMCO
being the surviving  corporation  (the "Insignia  Merger").  As a result,  AIMCO
acquired 100% ownership  interest in the Managing General Partner.  The Managing
General  Partner does not believe that this  transaction  has had or will have a
material effect on the affairs and operations of the Partnership.

Note C - Transactions with Affiliated Parties

The  Partnership  has no employees  and is  dependent  on the  Managing  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
Partnership  activities.  The Partnership Agreement provides for (i) payments to
affiliates for services and (ii)  reimbursement of certain expenses  incurred by
affiliates on behalf of the Partnership. The following payments were made to the
Managing General Partner and affiliates  during the three months ended March 31,
2000 and 1999:

                                                                  2000      1999
                                                                  (in thousands)

 Property management fees (included in operating expenses)        $ 64      $ 63

 Reimbursement for services of affiliates (included in
  operating and general and administrative expenses
  and investment properties)                                        30        31

During  the three  months  ended  March 31,  2000 and  1999,  affiliates  of the
Managing General Partner were entitled to receive 5% of gross receipts from both
of the Registrant's  properties for providing property management services.  The
Registrant  paid to such  affiliates  approximately  $64,000 and $63,000 for the
three months ended March 31, 2000 and 1999, respectively.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting  to  approximately  $30,000 and
$31,000 for the three months ended March 31, 2000 and 1999, respectively.

AIMCO and its affiliates  currently own 37,314 limited  partnership units in the
Partnership  representing  49.752% of the  outstanding  units. A number of these
units were acquired  pursuant to tender offers made by AIMCO or its  affiliates.
It is possible  that AIMCO or its  affiliates  will make one or more  additional
offers to acquire  additional limited  partnership  interests in the Partnership
for cash or in exchange for units in the operating  partnership of AIMCO.  Under
the  Partnership  Agreement,  unitholders  holding a  majority  of the Units are
entitled to take action with respect to a variety of matters. As a result of its
ownership  of  49.752%  of the  outstanding  units,  AIMCO is in a  position  to
significantly  influence all voting  decisions  with respect to the  Registrant.
When voting on matters, AIMCO would in all likelihood vote the Units it acquired
in a manner favorable to the interest of the Managing General Partner because of
their affiliation with the Managing General Partner.

Note D - Segment Reporting

Description  of the types of products  and  services  from which the  reportable
segment derives its revenues:

The Partnership has one reportable segment: residential properties consisting of
two  apartment  complexes  one which is located in Salt Lake City,  Utah and the
other in Dallas,  Texas.  The  Partnership  rents apartment units to tenants for
terms that are typically twelve months or less.

Measurement of segment profit or loss:

The  Partnership  evaluates  performance  based on segment  profit (loss) before
depreciation.  The accounting policies of the reportable segment are the same as
those described in the  Partnership's  Annual Report on Form 10-KSB for the year
ended December 31, 1999.

Factors management used to identify the enterprise's reportable segment:

The  Partnership's  reportable  segment  consists of investment  properties that
offer similar products and services.  Although each of the investment properties
is  managed  separately,  they have been  aggregated  into one  segment  as they
provide services with similar types of products and customers.

Segment  information for the three months ended March 31, 2000 and 1999 is shown
in the tables below (in  thousands).  The "Other"  column  includes  Partnership
administration  related  items and  income and  expenses  not  allocated  to the
reportable segment.

                 2000                  Residential     Other     Totals

Rental income                            $ 1,193       $ --      $ 1,193
Other income                                  59          --          59
Interest expense                             348          --         348
Depreciation                                 196          --         196
General and administrative expense            --          56          56
Segment profit (loss)                         194        (56)        138
Total assets                               17,613         36      17,649
Capital expenditures for investment
  properties                                  188         --         188

                       1999                 Residential     Other     Totals
        Rental income                          $ 1,207      $    --     $1,207
        Other income                                56            9         65
        Interest expense                           349           --        349
        Depreciation                               167           --        167
        General and administrative expense          --           55         55
        Segment profit (loss)                      245          (46)       199
        Total assets                            17,740          713     18,453
        Capital expenditures for investment
          properties                                68           --         68

Note E - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  the Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Note B - Transfer  of  Control").  The  plaintiffs  seek  monetary  damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Managing  General  Partner  filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.  Pending the ruling on such demurrers,
settlement negotiations commenced. On November 2, 1999, the parties executed and
filed a  Stipulation  of  Settlement,  settling  claims,  subject to final court
approval, on behalf of the Partnership and all limited partners who own units as
of November 3, 1999.  Preliminary  approval of the  settlement  was  obtained on
November 3, 1999 from the Superior Court of the State of  California,  County of
San Mateo, at which time the Court set a final approval hearing for December 10,
1999.  Prior to the  December  10,  1999  hearing  the  Court  received  various
objections to the settlement,  including a challenge to the Court's  preliminary
approval based upon the alleged lack of authority of class  plaintiffs'  counsel
to enter the settlement.  On December 14, 1999, the Managing General Partner and
its affiliates terminated the proposed settlement. Certain plaintiffs have filed
a motion to  disqualify  some of the  plaintiffs'  counsel  in the  action.  The
Managing  General  Partner does not anticipate  that costs  associated with this
case will be material to the Partnership's overall operations.

The  Partnership is unaware of any other pending or outstanding  litigation that
is not of a routine nature arising in the ordinary course of business.

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange Commission made by the Registrant from time to time. The
discussion of the  Registrant's  business and results of  operations,  including
forward-looking  statements  pertaining  to such  matters,  does not  take  into
account the effects of any changes to the  Registrant's  business and results of
operation.  Accordingly,  actual  results  could  differ  materially  from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

The Partnership's  investment properties consist of two apartment complexes. The
following table sets forth the average occupancy of the properties for the three
months ended March 31, 2000 and 1999

                                                   Average Occupancy

      Property                                      2000       1999

      Oak Run Apartments                            92%        94%
         Dallas, Texas
      Overlook Point Apartments                     93%        95%
         Salt Lake City, Utah

Results of Operations

The  Partnership's  net income for the three  months  ended  March 31,  2000 was
approximately $138,000 as compared to approximately $199,000 for the same period
in 1999.  The decrease in net income was due a decrease in total revenues and an
increase in total expenses. Total revenues decreased primarily due to a decrease
in rental income. The decrease in rental income is attributable to a decrease in
average  occupancy at both  properties and an increase in rental  concessions at
Oak Run Apartments.

Total   expenses   increased   primarily  due  to  increases  in  operating  and
depreciation   expense.   Operating   expense  increased  due  to  increases  in
advertising  expense at Overlook Point Apartments,  various property expenses at
both  properties  and a slight  increase  in the  insurance  premiums at Oak Run
Apartments.  The increase in depreciation  expense is primarily  attributable to
the increase in  depreciable  assets put into service in the last twelve months.
All other expenses remained relatively constant for the comparable periods.

Included in general and  administrative  expense at both March 31, 2000 and 1999
are management  reimbursements to the Managing General Partner allowed under the
Partnership  Agreement.  In addition,  costs  associated  with the quarterly and
annual  communications  with  investors and  regulatory  agencies and the annual
audit required by the Partnership Agreement are also included.

As part of the ongoing  business plan of the  Partnership,  the Managing General
Partner monitors the rental market  environment of its investment  properties to
assess the feasibility of increasing rents,  maintaining or increasing occupancy
levels and protecting  the  Partnership  from increases in expenses.  As part of
this plan, the Managing General Partner attempts to protect the Partnership from
the burden of  inflation-related  increases in expenses by increasing  rents and
maintaining a high overall  occupancy  level.  However,  due to changing  market
conditions,  which  can  result  in the use of  rental  concessions  and  rental
reductions to offset softening market conditions, there is no guarantee that the
Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

At  March  31,  2000,  the  Partnership   had  cash  and  cash   equivalents  of
approximately  $380,000  as compared to  approximately  $1,125,000  at March 31,
1999. Cash and cash equivalents  decreased  approximately  $82,000 for the three
month period ended March 31, 2000 from the fiscal year end. The decrease in cash
and cash equivalents is due to approximately  $259,000 of cash used in financing
activities  and  approximately  $215,000 of cash used in  investing  activities,
which more than  offset  approximately  $392,000 of cash  provided by  operating
activities.   Cash  used  in  financing   activities   consisted   primarily  of
distributions to partners, and to a lesser extent, payments of principal made on
the mortgages encumbering the Partnership's  properties.  Cash used in investing
activities consisted of capital improvements and replacements,  and net deposits
to restricted escrows maintained by the mortgage lender. The Partnership invests
its working capital reserves in a money market account.

An  affiliate  of  the  Managing  General  Partner  has  made  available  to the
Partnership  a  credit  line  of  up to  $150,000  per  property  owned  by  the
Partnership. At the present time, the Partnership has no outstanding amounts due
under this line of credit.  Based on present plans, the Managing General Partner
does not anticipate  the need to borrow in the near future.  Other than cash and
cash equivalents,  the line of credit is the Partnership's only unused source of
liquidity.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the  properties  to  adequately  maintain the physical
assets and other  operating  needs of the Registrant and to comply with Federal,
state, and local legal and regulatory requirements. Capital improvements planned
for each of the Registrant's properties are detailed below.

Oak Run  Apartments:  For  2000,  the  Partnership  has  budgeted  approximately
$375,000 for capital improvements at Oak Run Apartments consisting of appliance,
plumbing and flooring  replacements  and interior  decorations,  parking lot and
structural   improvements.   As  of  March  31,  2000  the  property  has  spent
approximately  $38,000  in  capital  expenditures  at  the  property  consisting
primarily of appliance and floor covering replacements.  These improvements were
funded from replacement reserves and operations.

Overlook Point Apartments:  For 2000, the Partnership has budgeted approximately
$238,000 for capital  improvements  at Overlook Point  Apartments  consisting of
appliance, plumbing and flooring replacements. As of March 31, 2000 the property
has  spent  approximately  $150,000  in  capital  expenditures  at the  property
consisting primarily of plumbing,  appliance and floor covering replacements and
building improvements. These improvements were funded primarily from operations.

The additional capital  expenditures planned will be incurred only to the extent
of cash available from operations and Partnership  reserves.  To the extent that
such budgeted capital improvements are completed, the Registrant's distributable
cash flow, if any, may be adversely affected at least in the short term.

The  Registrant's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Registrant.  The  mortgage
indebtedness  of  approximately  $19,184,000 is amortized over thirty years with
balloon payments of approximately $8,127,000 and $9,728,000 due on October 2004,
and September 2005,  respectively.  The Managing General Partner will attempt to
refinance such  indebtedness  and/or sell the properties  prior to such maturity
dates. If the properties  cannot be refinanced or sold for a sufficient  amount,
the Partnership may risk losing such properties through foreclosure.

The Registrant  made a cash  distribution of  approximately  $220,000 from prior
cumulative  undistributed sale and refinancing  proceeds, of which approximately
$218,000 was paid to the limited partners ($2.91 per limited  partnership  unit)
during the three months ended March 31, 2000.

The Registrant  made cash  distributions  of  approximately  $750,000 from prior
cumulative  undistributed sale and refinancing  proceeds, of which approximately
$743,000  was paid to limited  partners  ($9.91 per  limited  partnership  unit)
during the three months ended March 31, 1999.

Future cash  distributions  will depend on the levels of net cash generated from
operations,   the  availability  of  cash  reserves,  and  the  timing  of  debt
maturities,  refinancings  and/or property sales. The Registrant's  distribution
policy is reviewed on a semi-annual basis.  There can be no assurance,  however,
that the  Registrant  will  generate  sufficient  funds  from  operations  after
required   capital   improvements   expenditures   to  permit   any   additional
distributions  to its  partners  during  the  remainder  of 2000  or  subsequent
periods.

                           PART II - OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  the Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging  the  acquisition  by Insignia  Financial  Group,  Inc.
("Insignia")  and  entities  which  were,  at one time,  affiliates  of Insignia
("Insignia  Affiliates") of interests in certain general partner entities,  past
tender offers by Insignia  Affiliates to acquire limited  partnership units, the
management of partnerships  by Insignia  Affiliates and the Insignia Merger (see
"Item 1. Financial  Statements,  Note B - Transfer of Control").  The plaintiffs
seek monetary damages and equitable relief,  including  judicial  dissolution of
the  Partnership.  On June 25, 1998, the Managing General Partner filed a motion
seeking  dismissal  of the action.  In lieu of  responding  to the  motion,  the
plaintiffs have filed an amended  complaint.  The Managing General Partner filed
demurrers to the amended  complaint which were heard February 1999.  Pending the
ruling on such  demurrers,  settlement  negotiations  commenced.  On November 2,
1999,  the parties  executed and filed a  Stipulation  of  Settlement,  settling
claims,  subject to final court  approval,  on behalf of the Partnership and all
limited partners who own units as of November 3, 1999.  Preliminary  approval of
the  settlement  was obtained on November 3, 1999 from the Superior Court of the
State of  California,  County of San Mateo,  at which time the Court set a final
approval  hearing for December 10, 1999.  Prior to the December 10, 1999 hearing
the Court received various  objections to the settlement,  including a challenge
to the Court's preliminary  approval based upon the alleged lack of authority of
class  plaintiffs'  counsel to enter the  settlement.  On December 14, 1999, the
Managing General Partner and its affiliates  terminated the proposed settlement.
Certain  plaintiffs  have filed a motion to disqualify  some of the  plaintiffs'
counsel in the action.  The Managing  General  Partner does not anticipate  that
costs  associated with this case will be material to the  Partnership's  overall
operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  Exhibit 27, Financial Data Schedule, is filed as an exhibit to
                  this report.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended March 31, 2000.

                                   SIGNATURES

In  accordance  with  Section 13 or 15(d) of the Exchange  Act,  the  Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                 CENTURY PROPERTIES FUND XVIII

                                By:      FOX PARTNERS

                                         Its General Partner

                                 By:     FOX CAPITAL MANAGEMENT CORPORATION
                                         Its Managing General Partner

                                 By:     /s/Patrick J. Foye
                                         Patrick J. Foye
                                         Executive Vice President

                                 By:     /s/Martha L. Long
                                         Martha L. Long
                                         Senior Vice President and
                                         Controller

                                Date:    May 4, 2000