Capital Alliance Income Trust Ltd. Announces Record Date for and Date of Annual Meeting and Record Date for and Date of Effectiveness of Reverse Stock Split.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--April 25, 2001

Capital Alliance Income Trust Ltd. ("CAIT") (AMEX: CAA), a non-conforming specialty residential finance company, announced the following dates relating to its Annual Meeting and its pending 1 for 3 Reverse Stock Split relating to both its Common and Series "A" Preferred Shares:

(a)      Annual Meeting:

         (i)      Annual Meeting Date:               July 6, 2001.

         (ii)     Annual Meeting Record Date:        May 3, 2001.

(b)    Reverse Stock Split of Common and Series "A" Preferred Shares:

         (i)   Record Date for Reverse Stock Split: May 11, 2001.
         (ii)  Effective Date of Reverse Stock Split: May 11, 2001
               (4 p.m. EDT).
         (iii) All outstanding share certificates must be submitted
               to CAIT's Transfer Agent and exchanged for new
               certificates. Notice of the Reverse Split and
               instructions for the exchange of shares and/or share
               certificates will be sent to shareholders upon the
               effectiveness of the reverse split on May 11, 2001.
         (iv)  Fractional shares will be settled by rounding up to
               nearest whole share through CAIT's Transfer Agent.
         (v)   CAIT's Transfer Agent is:  Gemisys Corporation,
               7103 South Revere Pkwy., Englewood, CO 80112.

CAIT is a specialty residential mortgage lender which invests in high-yielding, non-conforming and conforming residential mortgage loans on one-to-four unit residential properties located primarily in California and other western states. It also originates non-conforming and conforming loans for sale to investors, including Freddie Mac, on a whole loan basis for cash through its mortgage banking subsidiary, Capital Alliance Funding Corporation.