American Mortgage Acceptance Company Announces First Quarter Dividend For 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 first quarter of 2007, payable on May 15, 2007, to shareholders of record as of March 30, 2007.

AMAC's present quarterly dividend on an annualized basis is $0.90 per share, representing an approximate 9.0% dividend yield on the $10.05 per share closing price on March 19, 2007.

The Board of Trustees has also announced that the Company's Annual Meeting of Shareholders will take place at 10:00 a.m. on Tuesday, June 12, 2007, for shareholders of record as of April 13, 2007. The Annual Meeting will be held at the offices of Paul, Hastings, Janofsky & Walker LLP, at 75 East 55th Street, New York, New York.

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 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 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 uninsured and non-investment grade mortgage assets and subordinated Commercial Mortgage-Backed Securities ("CMBS"); competition in acquiring desirable investments; interest rate fluctuations; risks associated with hedging transactions, which can limit gains and increase exposure to loss; risks associated with investments in real estate generally and the properties which secure many of our investments; general economic conditions, particularly as they affect the value of our assets and the credit status of our borrowers; dependence on our external Advisor for all services necessary for our operations; conflicts which may arise among us and other entities affiliated with our Advisor which have similar investment policies to ours; risks associated with the repurchase agreements we utilize to finance our investments and the availability of financing generally; and risks associated with our contemplated CDO transactions, which include, but are not limited to, the inability to acquire eligible investments for a CDO issuance and the inability to find suitable replacement investments in collateralized debt obligations with reinvestment periods. 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.