CharterMac Elects Alan P. Hirmes Chief Financial Officer.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 16, 2003 CharterMac (AMEX AMEX See: American Stock Exchange :CHC CHC Chicago Cubs CHC Community Health Center CHC Chestnut Hill College (Philadelphia, Pennsylvania) CHC Congressional Hispanic Caucus CHC Community Health Council (UK National Health Service) ) 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 CharterMac to pursue other opportunities. Mr. Rothstein will remain at CharterMac until March 31, 2004, through completion of CharterMac's 2003 audit and annual report. Mr. Hirmes is currently the 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 the Company and a member of the Board of Trustees. Mr. Hirmes has 24 years of real estate finance experience, 20 of which have been with CharterMac's subsidiary, Related Capital Company. 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 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 since 1978. Stuart J. Boesky, Chief Executive Officer of CharterMac, 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 CharterMac is one of the nation's leading full-service multifamily finance companies, providing capital solutions to developers and owners of multifamily rental housing throughout the country. Collectively, the Company and its subsidiaries offer financing for every part of a multifamily property's capital structure. For more information, please visit CharterMac's website at http://www.chartermac.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. CharterMac 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 CharterMac's expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based. |
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