American Residential Announces Company Name Change to AmNet Mortgage, Inc. and Planned Move to NASDAQ.Business Editors SAN DIEGO--(BUSINESS WIRE)--May 6, 2004 American Residential Investment Trust, Inc. (Amex(R): INV INV abbr. in vitro fertilization ) today announced that it has officially changed its name to AmNet Mortgage, Inc. The name change links the parent company more closely with American Mortgage Network (AmNet), the Company's wholesale mortgage bank subsidiary. The Company also announced its intention to move its common stock listing from AMEX to the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market System. It is expected that the Company's common stock will begin trading on NASDAQ under its new symbol, AMNT in mid-June 2004. INV shares will continue trading on AMEX until the move is completed. Commenting on the planned move to NASDAQ, John M. Robbins, Chief Executive Officer, said, "American Mortgage Network, the primary subsidiary of AmNet Mortgage Inc., is a young, dynamic organization with a bright future. As a mortgage bank that operates solely in the wholesale channel serving mortgage brokers, our goal is to be recognized as a high potential growth company in our market niche. As the world's largest, fastest growing and most technologically advanced electronic stock market, NASDAQ is home to 3,600 of the most innovative companies. This includes global organizations as well as start-ups. We believe that listing on NASDAQ will help us attract a broader range of investors through greater visibility." AmNet Mortgage Inc.'s new corporate website is www.amnetmortgageinc.com. The website address for American Mortgage Network remains the same: www.amnetmortgage.com. About American Mortgage Network Headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. , AmNet is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AmNet Mortgage, Inc. AmNet originates loans for the national mortgage broker community through its network of branches and business-to-business over the Internet. AmNet has loan production offices in Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Minnesota, New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Oregon, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , Texas, Virginia, and Washington. AmNet has a total of $1.4 billion in warehouse borrowing capacity and is approved to do business in 49 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). either by license or exemption. AmNet has approximately 5,000 approved broker customers across the nation. For more information, please visit www.amnetmortgage.com. About AmNet Mortgage, Inc. AmNet Mortgage, Inc. is the parent company of American Mortgage Network. For more information, please visit www.amnetmortgageinc.com. The Company was formerly known as American Residential Investment Trust, Inc. FORWARD-LOOKING STATEMENT forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Certain matters discussed in this press release may constitute forward-looking statements within the meaning of federal securities laws. Forward-looking statements include statements regarding the timing of the Company's plans to move to NASDAQ. Actual results and the timing of certain events could differ materially from those projected in or contemplated by these forward-looking statements due to a number of factors, including but not limited to the filing and acceptance of documents related to a corporate name change with the state of Maryland and other risk factors outlined in American Residential Investment Trust's SEC reports. |
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