American Mortgage Acceptance Company Receives Notice Regarding NYSE Listing

NEW YORK--(BUSINESS WIRE)--American Mortgage Acceptance Company (“AMAC” or the “Company”) (NYSE Alternext:AMC) today announced the Company has been notified by New York Stock Exchange Regulations, Inc. that NYSE Alternext US LLC (the “Exchange”) intends to delist the Company's common shares and 7.25% Series A Cumulative Convertible Preferred Shares (collectively the “Securities”) from the Exchange.

The notice from the Exchange indicated that the Company no longer complies with the Exchange’s continued listing standards. The letter noted the Forms 8-K AMAC filed with the Securities and Exchange Commission on October 16 and October 28, 2008, which, among other things, disclosed that the Company’s liabilities exceeded the value of its remaining assets. The Exchange has determined that the disclosures made by AMAC in the Forms 8-K indicate the Company is subject to delisting pursuant to Section 1003(a)(iv) of the NYSE Alternext US LLC Company Guide (the “Company Guide”), which allows the Exchange to consider delisting a security if the company issuing the security has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired, that it appears questionable, in the opinion of the Exchange, as to whether such company will be able to continue operations and/or meet its obligations as they come due. The Exchange has also determined the Company has become subject to Section 1002(e) of the Company Guide, which states the Exchange will consider suspension of trading in or removal from listing of a security when, in the opinion of the Exchange, “an event shall occur or a condition shall exist which makes further dealings on the Exchange unwarranted.”

Given its financial condition, the Company does not expect that it will be able to continue in operation and, if liquidated and wound up in a bankruptcy proceeding or otherwise, claims of common and preferred shareholders would be subordinate to the claims of creditors and other obligors. Therefore, the Company does not believe there would be any recovery for shareholders and believes the Securities are worthless.

The Company does not intend to appeal the intention of the Exchange to delist AMAC’s Securities from the Exchange. AMAC is scheduled to be delisted from the Exchange on Tuesday, November 11, 2008.

For more information, please contact the Investor Relations Department directly at (800) 831-4826.

Certain statements in this document may constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are detailed in AMAC's most recent Annual Report on Form 10-K and in its other filings with the Securities and Exchange Commission and include, among others, risks related to the exercise of remedies by or settlements with creditors, our current liquidity which include, but are not limited to market volatility for mortgage products and the availability of financing for our investments; risks associated with the repurchase agreements we utilize to finance our investments and the ability to raise capital; risks associated with Collateral Debt Obligation ("CDO") securitization transactions, which include, but are not limited to: the inability to acquire eligible investments for a CDO issuance; interest rate fluctuations on variable-rate swaps entered into to hedge fixed-rate loans; the inability to find suitable replacement investments within reinvestment periods; and the negative impact on our cash flow that may result from the use of CDO financings with over-collateralization and interest coverage requirements; risks associated with investments in real estate generally and the properties which secure many of our investments; risks of investing in non-investment grade commercial real estate investments; general economic conditions and economic conditions in the real estate markets specifically, particularly as they affect the value of our assets and the credit status of our borrowers; dependence on our Advisor for all services necessary for our operations; conflicts which may arise among us and other entities affiliated with our Advisor that have similar investment policies to ours; and risks associated with the failure to qualify as a REIT. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.