Bimini Mortgage Management, Inc. Announces Management Promotions

Bimini Mortgage Management, Inc. (NYSE:BMM), a real
estate investment trust that invests primarily in residential
mortgage-related securities, today announced management promotions.
George H. Haas IV (age 29) has been promoted to Senior Vice President
and Head of Mortgage Research and Trading. Amber K. Luedke, CPA, (age
28) has been promoted to Senior Vice President and Treasurer.
   Haas joined Bimini in April 2004 as Vice President and head of
Mortgage Research. Prior to that, he was Vice President of Risk
Analytics in the Servicing Asset Risk Management Department of
National City Mortgage Company. While there, Haas specialized in
researching the impact of mortgage prepayments on a $155 billion
servicing portfolio. Haas previously worked at HomeSide Lending Inc.,
where he was a member of the Capital Markets Finance Group,
specializing in mortgage servicing rights, hedging and market risk
oversight. Prior to that, he attended Oklahoma State University, where
he received his MS degree in Economics, with an emphasis on
econometric and statistical analysis, and his BS degree in Business
Economics.
   Luedke joined Bimini in September 2004 as Treasurer. Prior to
that, she was a staff accountant for the public accounting firm
Ahearn, Jasco + Company P.A., in Pompano Beach, Florida, where she
gained valuable knowledge and understanding of the mortgage-backed
securities industry. Luedke was previously a staff accountant for
Kennedy and Coe, LLC, a public accounting firm in Kansas, where she
specialized in taxation of the agricultural industry. Luedke received
her Master of Accountancy degree in 2000 from Kansas State University
and her BS in Business Administration from Kansas State University in
1999. She is licensed in Kansas and Florida as a Certified Public
Accountant.
   Commenting on the announcement, Jeffrey J. Zimmer, chairman,
president and chief executive officer, said, "We are excited and
pleased to announce these promotions, which reward the commitment,
dedication, and hard work demonstrated by both Amber and George. The
expertise and achievements of these individuals reflect the kind of
leadership that will enable us to extend our record of growth and
profitability."
   Bimini Mortgage Management, Inc. invests primarily in residential
mortgage-related securities issued by the Federal National Mortgage
Association (Fannie Mae), the Federal Home Loan Mortgage Corporation
(Freddie Mac) and the Government National Mortgage Association (Ginnie
Mae). It earns returns on the spread between the yield on its assets
and its costs, including the interest expense on the funds it borrows.