MortgageIT Holdings, Inc. Announces Exercise of Over-Allotment Option

MortgageIT Holdings, Inc. Announces Exercise of Over-Allotment
Option 


NEW YORK, July 13  /PRNewswire-FirstCall/ -- MortgageIT Holdings, Inc.
(NYSE:MHL), a residential mortgage company organized as a real estate
investment trust (REIT), announced that the underwriters of the recent public
offering of shares of the Company's common stock have exercised, in full, their
option to purchase an additional 1,422,646 shares of common stock from the
Company at the public offering price of $18.25 to cover over-allotments.

Including the over-allotment, a total of 10,906,952 shares were sold.  Of the
total, 8,712,074 shares were sold by the Company and the balance by certain
selling stockholders. The Company realized net proceeds from the offering of
approximately $150 million after deducting underwriting fees and estimated
offering expenses. The Company did not receive any proceeds from the sale of
shares by the selling stockholders.

Proceeds from the sale of shares by the Company will be used to purchase and
retain in the Company's investment portfolio single-family ARM and hybrid ARM
loans that have been originated by MortgageIT, Inc., its taxable REIT
subsidiary, and for general corporate purposes.

Merrill Lynch & Co. and Friedman, Billings, Ramsey & Co., Inc. served as joint
bookrunning managers of the offering. Flagstone Securities, LLC, JMP Securities
LLC, Ryan Beck & Co., and Utendahl Capital Partners, L.P. were co- managers for
the offering.

A copy of the prospectus related to this offering may be obtained directly from
Merrill Lynch & Co., Prospectus Department, 4 World Financial Center, New York,
NY 10080 (tel: [phone]) and Friedman, Billings, Ramsey & Co., Inc., 1001
19th Street North, Arlington, VA 22209 (tel: [phone]).

This communication is not an offer to sell or the solicitation of an offer to
buy and such offers are made only in jurisdictions where permitted pursuant to
the prospectus.

About MortgageIT Holdings, Inc.

MortgageIT Holdings, Inc. (NYSE:MHL) is a self-administered mortgage real
estate investment trust ("REIT") focused on the residential lending market. The
Company self-originates its investment portfolio of high quality adjustable
rate mortgage ("ARM") loans through MortgageIT, Inc., its wholly owned
residential mortgage lending subsidiary. MortgageIT, Inc. is a full- service
residential mortgage lending company that is licensed to originate loans
throughout the United States. MortgageIT Holdings is organized and conducts its
operations to qualify as a REIT for federal income tax purposes. MortgageIT is
organized and operates as MortgageIT Holdings' taxable REIT subsidiary. For
more information, please visit http://www.mortgageitholdings.com/. 

DATASOURCE: MortgageIT Holdings, Inc.



CONTACT:  Investors - Sean McGrath, MortgageIT Holdings, Inc., +1-646-

346-8700; Media -Ted J. Stacer, MortgageIT Holdings, Inc., [phone];

Joe LoBello, Brainerd Communicators, Inc., [phone], for MortgageIT

Holdings, Inc.



Web site:  http://www.mortgageitholdings.com/ 

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