American Mortgage Acceptance Company Announces First Quarter Dividend for 2006

AMAC's present quarterly dividend on an annualized basis is $1.60per share, representing an approximate 10.3% dividend yield on the$15.50 per share closing price on March 7, 2006.

The Board of Trustees has also announced that the Company's AnnualMeeting of Shareholders will take place at 10:00 a.m. on Wednesday,June 14, 2006, for shareholders of record as of April 14, 2006. TheAnnual Meeting will be held at the offices of Paul, Hastings, Janofsky& Walker LLP, at 75 East 55th Street, New York, New York.

Additionally, the Board of Trustees has announced that it hasrenewed AMAC's advisory contract with its advisor, CharterMac AMIAssociates, Inc., for a term of one year in accordance with theamended terms disclosed by the Company in the Form 8-K filed onDecember 20, 2005.

About the Company

AMAC is a real estate investment trust that specializes inmultifamily and commercial real estate finance. AMAC originates andacquires first mortgage, mezzanine and bridge loans, andgovernment-insured first mortgages secured by properties throughoutthe United States. For more information, please visit our website athttp://www.americanmortgageco.com or contact the Investor RelationsDepartment directly at (800) 831-4826.

Certain statements in this document may constitute forward-lookingstatements within the meaning of the "safe harbor" provisions of thePrivate Securities Litigation Reform Act of 1995. These statements arebased on management's current expectations and beliefs and are subjectto a number of factors and uncertainties that could cause actualresults to differ materially from those described in theforward-looking statements. These risks and uncertainties are detailedin AMAC's most recent Annual Report on Form 10-K and in its otherfilings with the Securities and Exchange Commission. Suchforward-looking statements speak only as of the date of this document.AMAC expressly disclaims any obligation or undertaking to releasepublicly any updates or revisions to any forward-looking statementscontained herein to reflect any change in AMAC's expectations withregard thereto or change in events, conditions, or circumstances onwhich any such statement is based.