American Residential Holds Reconvened Annual Meeting; Stockholders Approve De-REIT Proposals.Business Editors SAN DIEGO--(BUSINESS WIRE)--Aug. 5, 2002 American Residential Investment Trust, Inc. (NYSE NYSE See: New York Stock Exchange : INV INV abbr. in vitro fertilization ) held its reconvened annual meeting of stockholders on Friday, August 2, 2002. In order to allow stockholders additional time to cast votes on two proposals, which relate to termination of American Residential's status as a REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). , the meeting had been adjourned with respect to the consideration of these proposals. The independent inspector of elections has informed American Residential that these two proposals have been approved. The Company anticipates terminating its status as a REIT in January 2003. In connection with the results of the vote, John M. Robbins, Jr., Chief Executive Officer, said, "We are very appreciative of the support we have received from our stockholders. With this issue resolved, we are now able to completely focus on executing our strategic plan to build American Mortgage Network." About American Residential Investment Trust American Residential Investment Trust, Inc. is a real estate investment trust (REIT) that has traditionally invested in subprime residential mortgage assets. For more information, please visit www.amerreit.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. , American Mortgage Network is a taxable REIT subsidiary of American Investment Trust, Inc., a real estate investment trust (REIT). AmNet originates loans for the national mortgage broker community through its network of regional centers and over the Internet. AmNet has regional centers in Ontario, California Ontario is a city located in San Bernardino County, California, United States. As of the 2000 Census, the city had a total population of 170,373. It is the home of LA/Ontario International Airport and the huge Ontario Mills shopping mall (the largest in Southern California and one ; Sacramento, California “Sacramento” redirects here. For other uses, see Sacramento (disambiguation). Sacramento is the capital of the State of California and the county seat of Sacramento County. ; San Diego, California; New Haven New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many , Connecticut: Atlanta, Georgia; and Portland, Oregon as well as satellite offices in Mission Viejo, California “Mission Viejo” redirects here. For other uses, see Mission Viejo (disambiguation). Mission Viejo (anglicized pronunciation IPA: /ˈmɪʃənviːˈeɪhoʊ/ ; Tampa, Florida; and Kirkland, Washington. For more information, please visit www.amnetmortgage.com. 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 anticipated timing of terminating American Residential's status as a REIT. Actual results and the timing of these events could differ materially from those projected in or contemplated by these forward-looking statements, including the timing and ability to transition the Company's stock to a different stock exchange. |
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