Anna M. Martinez Joins American Mortgage Network as Vice President, Capital Markets.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Nov. 13, 2002

American Mortgage Network (AmNet), a wholly owned mortgage banking subsidiary of American Residential Investment Trust (NYSE: INV), announced today that it has hired Anna M. Martinez as Vice President, Capital Markets and New Business Development. Ms. Martinez is primarily responsible for developing and maintaining loan investor relationships as well as developing new loan products. Ms. Martinez will begin by conducting an evaluation of AmNet's Capital Markets group to identify potential new business development opportunities.

Ms. Martinez has over nineteen years of experience in developing investor relationships, coordinating business-to-business transactions and building strategic alliances. Prior to joining AmNet, Ms. Martinez served as Vice President, Senior Relationship Manager for Bank of America Private Bank where she managed team members responsible for addressing client needs. Previously, she held management positions with Chase Manhattan Mortgage Corporation, Advanta Mortgage Corporation and American Residential Mortgage Corporation.

In commenting on the appointment, John M. Robbins, Jr., Chairman and Chief Executive Officer of the Company and AmNet, said, "Anna Martinez brings a unique combination of talent to AmNet. Her deep industry experience will be a valuable asset as we grow our origination franchise and develop relationships with loan investors. Growing this business profitably is our primary objective. She has the strong leadership skills necessary to manage the new business opportunities within our Capital Markets Group."

Ms. Martinez has a B.S. in Business Administration and a Masters of International Business from the University of San Diego. She is a native of San Diego and resides in the Mission Hills area.

About American Mortgage Network

Headquartered in San Diego, California, American Mortgage Network is a wholly owned subsidiary of American Residential Investment Trust, Inc. 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; Sacramento, California; San Diego, California; Denver, Colorado; New Haven, Connecticut; Atlanta, Georgia; Minneapolis, Minnesota; Cherry Hill, New Jersey; and Portland, Oregon as well as satellite offices in Mission Viejo, California; Tampa, Florida; and Kirkland, Washington. For more information, please visit www.amnetmortgage.com.

About American Residential Investment Trust

American Residential Investment Trust, Inc. is a real estate investment trust (REIT) that has, in the past, invested in subprime residential mortgage assets. The Company intends to terminate its status as a mortgage REIT in the first quarter of 2003. Prior to that time, the Company plans to move to another national equity market exchange. For more information, please visit www.amerreit.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 timing of terminating the Company's status as a REIT and plans to move to another national stock exchange. 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 effects of terminating the Company's REIT status; the ability of the Company to qualify for listing on another exchange; and other risk factors outlined in American Residential Investment Trust's SEC reports.