The news items below highlight a select few of the press releases from MMA Financial’s parent company, MuniMae. These items are selected for their particular relevance to the business lines and operations of MMA Financial. We believe the items below would be of particular interest to MMA Financial’s developer and investor clients and capital partners.

To access the complete press release archive for current and prior years, please visit www.MuniMae.com

MMA Renewable Ventures Launches Energy Efficiency Finance Group - Three Efficiency Veterans Create New Business Unit at Leading Energy Finance Firm

San Francisco, Calif. – May 31, 2007 – MMA Renewable Ventures, a subsidiary of Municipal Mortgage & Equity, LLC (NYSE: MMA), today announced the launch of a new business unit focused on developing financial solutions for mid to large-scale energy efficiency (EE) projects.
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MuniMae Announces 40th Consecutive Increase in Quarterly Distribution; Company Provides Year End Review for 2006

Baltimore , Md. — Jan. 31, 2007— MuniMae (NYSE:MMA) announced today that its Board of Directors declared a distribution of $0.5125 per common share payable on February 20, 2007 to shareholders of record as of February 7, 2007. This represents a 4% increase over the distribution for the comparable period last year. On an annualized basis, the distribution equates to $2.05 per common share and represents a 6.5% yield based on the January 30, 2007 closing price of $31.44 per share. Because a portion of income allocated to shareholders may qualify for exemption from Federal income taxes, the stated yield does not reflect potentially higher net returns investors may realize as compared with other investments.
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MuniMae Acquires Renewable Ventures LLC, Clean Energy Project Finance Company

Baltimore , Md. and San Francisco, Calif.— May 16, 2006 — MuniMae (NYSE:MMA) announced today that it has acquired Renewable Ventures LLC, an innovative third-party financer and operator of renewable energy generation facilities.
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MuniMae Announces Third Quarter Financial Results And Reaffirms CAD Guidance.

BALTIMORE--Nov. 7, 2005--MuniMae (NYSE:MMA), a leading publicly traded real estate finance and investment management company, today announced financial results for the third fiscal quarter of 2005.
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MuniMae Announces Closing of Company's Largest Tax Credit Fund to Date.

BALTIMORE--Oct. 5, 2005--MuniMae (NYSE:MMA) announced today that it admitted the final investors into two separate tax credit funds, raising over $440 million from 21 corporate investors. One of the funds (ITC 29) represents $386 million of equity raised, and is one of the largest tax credit equity funds in the history of the industry.
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MuniMae Closes Glaser Acquisition.

BALTIMORE --July 01, 2005--MuniMae (NYSE:MMA) announced today that it has closed on the previously announced purchase of Glaser Financial Group, Inc. ("Glaser").
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MuniMae Announces Closing of $319 Million Tax Credit Equity Fund.

BALTIMORE --Feb. 10, 2005--MuniMae (NYSE:MMA) announced today that it closed its largest tax credit equity fund to date, raising $319 million from sixteen corporate investors. The proceeds will be used to help finance 61 multifamily properties across the country, providing over 5,000 families with quality affordable housing.
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The news items above highlight a select few of the press releases from MMA Financial’s parent company, MuniMae. These items are selected for their particular relevance to the business lines and operations of MMA Financial. To access the complete press release archive for current and prior years, please visit www.MuniMae.com.