American Mortgage Acceptance Company Announces First Quarter Dividend for 2006.

NEW YORK -- The Board of Trustees of American Mortgage Acceptance Company ("AMAC" or the "Company") (AMEX:AMC) has declared a dividend of $0.40 per share for the first quarter of 2006, payable on May 15, 2006, to shareholders of record as of March 31, 2006.

AMAC's present quarterly dividend on an annualized basis is $1.60 per 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 Annual Meeting of Shareholders will take place at 10:00 a.m. on Wednesday, June 14, 2006, for shareholders of record as of April 14, 2006. The Annual 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 has renewed AMAC's advisory contract with its advisor, CharterMac AMI Associates, Inc., for a term of one year in accordance with the amended terms disclosed by the Company in the Form 8-K filed on December 20, 2005.

About the Company

AMAC is a real estate investment trust that specializes in multifamily and commercial real estate finance. AMAC originates and acquires first mortgage, mezzanine and bridge loans, and government-insured first mortgages secured by properties throughout the United States. For more information, please visit our website at http://www.americanmortgageco.com or contact the Investor Relations Department directly at [phone].

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. 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.