American Mortgage Acceptance Company Elects Alan P. Hirmes Chief Financial Officer.Business Editors/Real Estate Writers NEW YORK--(BUSINESS WIRE)--Dec. 16, 2003 American Mortgage Acceptance Company ("AMAC AMAC Adults Molested As Children AMAC Assistance to Mine-Affected Communities AMAC Aircraft Monitor And Control AMAC Approximate Message Authentication Code AMAC American Military Arms Corporation AMAC Asset Management Assistance Center ") (AMEX AMEX See: American Stock Exchange :AMC (Advanced Mezzanine Card) See AdvancedTCA. ) today announced that the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. elected Alan P. Hirmes to the position of Chief Financial Officer ("CFO See Chief Financial Officer. "), effective March 31, 2004. Mr. Hirmes will be replacing Stuart A. Rothstein, the current CFO, who will be leaving AMAC to pursue other opportunities. Mr. Rothstein will remain at AMAC until March 31, 2004, through completion of AMAC's 2003 audit and annual report. Mr. Hirmes is currently the interim Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of AMAC and a member of the Board of Trustees. Mr. Hirmes has 24 years of real estate finance experience, 20 of which have been with Related Capital Company, AMAC's advisor. Mr. Hirmes has been a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. in New York since 1978. Stuart J. Boesky, Chief Executive Officer of AMAC, commented, "Stuart Rothstein is a very competent and dedicated professional, and it was a real pleasure to be associated with him. We will all miss him and wish him well. Fortunately, the Company has a very strong group of professionals. Mr. Hirmes is extremely talented and knowledgeable, and he should be able to easily transition into Stuart's responsibilities." About the Company AMAC is a real estate investment trust that specializes in multifamily housing finance. AMAC originates and acquires mezzanine loans, bridge loans, and government-insured first mortgages secured by multifamily housing properties throughout the United States. For more information, please visit our website at http://www.americanmortgageco.com or contact the Shareholder Services Department directly at (800) 831-4826. Certain statements in this press release may constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. Such forward-looking statements speak only as of the date of this press release. 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. |
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