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American Mortgage Acceptance Co. American Mortgage Acceptance Company is a Real Estate Investment Trust (REIT) that seeks asset diversification, capital appreciation and income for distribution to their shareholders primarily through the acquisition and origination of both government insured and uninsured mortgages secured by multifamily properties. These investments may take the form of government insured first mortgages and uninsured mezzanine loans, construction loans and bridge loans. They may also invest in other real estate assets, including commercial mortgage-backed securities. Offering Type Secondary Size of Offering 3,500,000 shares Security Common Stock Expected Ticker AMC Lead Manager Friedman Billings Ramsey Final Price 13.50 Final Date 2/11/2002   See Important Information below.

Important Information Review the complete preliminary offering prospectus by clicking on the "prospectus" button or you may contact Wedbush for a copy by calling 1 (877) 4EIBANK. Offers and sales can be made only pursuant to a prospectus. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement becomes effective, and any such offer or indication of interest may be withdrawn and revoked without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind. Please read the prospectus carefully before you invest. It contains important information about the fund including fees, charges and expenses. If you would like a paper copy of the prospectus, please call 1-877-434-2265.