GMAC Municipal Mortgage Trust Announces Capital Gain Share Distribution to Preferred Shareholders.

DENVER -- Newman Capital LLC, the Manager of GMAC Municipal Mortgage Trust (the "Trust"), announced a capital gain share distribution to the Trust's Preferred Shareholders for the year ending December 31, 2005. The distributions were sent to Preferred Shareholders, who were holders of shares in 2005, on or about March 28, 2006.

In November 2004, the Trust completed an initial offering of $135 million of Preferred Shares, and in March 2005, the Trust completed an offering of $80 million of Preferred Shares. Of the $215 million of Preferred Shares outstanding, all shares are held by institutional investors.

GMAC Municipal Mortgage Trust is a direct and indirect investor in tax-exempt mortgage revenue bonds and other investments that generate tax-exempt income. As of March 31, 2006, the Trust's portfolio of investments consists of approximately $1.1 billion of investments in mortgage revenue bonds which finance approximately 131 multifamily developments located in 24 states. The real estate portfolio supporting the underlying bonds consists primarily of affordable multifamily properties.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities. The securities offered and sold have not been registered under the Securities Act, or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption form the registration requirements of such securities laws.

This news release contains forward-looking statements. Actual results may differ materially from these forward-looking statements as a result of various factors and risks. These forward-looking statements are based on information available to the Issuer at the time of this release and it assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance.