American Mortgage Acceptance Company Announces Common and Preferred Dividends Per Share for the Third Quarter of 2007.

NEW YORK -- The Board of Trustees of American Mortgage Acceptance Company ("AMAC" or the "Company") (AMEX:AMC) has declared a dividend of $0.225 per share for the third quarter of 2007, payable on November 14, 2007, to shareholders of record as of September 28, 2007.

AMAC's present quarterly dividend on an annualized basis is $0.90 per share, representing an approximate 9.9% dividend yield on the $9.11 per share closing price on September 19, 2007.

The Company's Board of Trustees has also declared a dividend distribution of $0.3222 per share of AMAC's 7.25% Series A Cumulative Convertible Preferred Shares (the "Preferred Shares"). The Preferred Shares dividend will be payable on October 15, 2007, to shareholders of record as of September 28, 2007.

About AMAC

AMAC is a real estate investment trust that specializes in originating and acquiring mortgage loans and other debt instruments secured by multifamily and commercial properties throughout the United States. AMAC invests in mezzanine, construction and first mortgage loans, subordinated interests in first mortgage loans, bridge loans, subordinate commercial mortgage backed securities, and other real estate assets. For more information, please visit our website at http://www.americanmortgageco.com or 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 of investing in non-investment grade commercial real estate investments; competition in acquiring desirable investments; interest rate fluctuations; risks associated with investments in real estate generally and the properties which secure many of our 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; risks associated with the repurchase agreements we utilize to finance our investments and our ability to raise capital; risks associated with failure to qualify as a REIT; and risks associated with our collateralized 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. Such forward-looking statements speak only as of the date of this document. AMAC expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in AMAC's expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.