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MELVIN W. PETERSEN IS ELECTED TO THE TIS MORTGAGE INVESTMENT COMPANY, INC. BOARD OF DIRECTORS

SAN FRANCISCO, Dec. 15 /PRNewswire/ -- TIS Mortgage Investment Company (NYSE: TIS) announced today the election of Melvin W. Petersen to the Board of Directors.

Mr. Petersen is currently a consultant to McMorgan & Company, a firm with $14,000,000,000 in assets under management. Previously, he served McMorgan as investment manager and executive vice president in charge of managing bond and stock portfolios. Earlier, Mr. Petersen was chief of investments for the California Public Employees Retirement System and State Teacher's Retirement System, in addition to five other funds. In that capacity, he was responsible for policy formulation, strategy decisions and management of pension fund investment assets including bonds, real estate mortgage loans, stocks and real estate. In addition to his recent appointment to the TIS Board of Directors, Mr. Petersen serves as a board member to McM Funds, is a member of the San Francisco Society of Security Analysts, and the Financial Analysts Federation. In the past, Mr. Petersen chaired the National Association of State Investment Officers, was a member of the Golden One Credit Union Board of Directors, and was associated with the American Institute of Certified Public Accountants.

"We are pleased to have an individual of Melvin Petersen's caliber joining our Board," said Lorraine O. Legg, President and Chief Executive Officer. "His knowledge and background will be complimentary to the skills and experience of our talented group of directors as we continue to shift our investments to real estate equity ownership."

TIS Mortgage Investment Company is a San Francisco-based Real Estate Investment Trust (REIT).
 -0- 12/15/95


/CONTACT: Matthew Harrington of Edelman Public Relations, 415-433-5381, for TIS/

(TIS)

CO: TIS Mortgage Investment Trust Co. Inc. ST: California IN: FIN SU: PER

SM-DS -- SFF011 -- 3995 12/15/95 18:50 EST
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Publication:PR Newswire
Date:Dec 15, 1995
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