MuniMae Announces $192 Million Fixed Rate Bond Securitization

  
    
  
  
    
      Municipal Mortgage & Equity, LLC (NYSE:MMA) announced today that one of 
      its subsidiaries, MuniMae TE Bond Subsidiary, LLC (“TEBS”), 
      has completed a $192 million, fixed rate bond securitization with a 
      private placement of Class A TEBS Tax-Exempt Multifamily Housing 
      Certificates, Series 2006A (the “Class A 
      Certificates”). The Class A Certificates have 
      an initial term of 7 years, bear interest at 4.26% per annum and are 
      secured by 26 fixed rate tax exempt multifamily housing revenue bonds. 
      The net proceeds will be used to refinance $177 million of floating rate 
      TEBS senior obligations and originate investments in tax exempt revenue 
      bonds.
    
    
      The securities referenced in this press release have not been and will 
      not be registered under the Securities Act of 1933 and may not be 
      offered or sold in the United States absent registration or an 
      applicable exemption from registration requirements.
    
    
      About MuniMae
    
    
      MuniMae and its subsidiaries arrange debt and equity financing for 
      developers and owners of real estate and clean energy projects. The 
      Company also provides investment management and advisory services for 
      institutional investors. Assets under management exceed $17 billion 
      including investments in over 3,000 multifamily properties, containing 
      more than 320,000 units in 49 states, the District of Columbia, Puerto 
      Rico and the U.S. Virgin Islands.
    
    
      MuniMae is organized as a limited liability company, which allows it to 
      combine the limited liability, governance and management characteristics 
      of a corporation with the pass-through features of a partnership. As a 
      result, the tax-exempt income derived from certain investments remains 
      tax-exempt when passed through to shareholders. MuniMae also conducts 
      activities through wholly owned taxable corporate subsidiaries. 
      Distributions to shareholders are normally declared quarterly.
    
    
      Statements in this press release that are not historical fact may be 
      deemed forward-looking statements within the meaning of Section 27A of 
      the Securities Act of 1933, as amended, and Section 21E of the 
      Securities Exchange Act of 1934, as amended. Although the Company 
      believes the expectations reflected in any forward-looking statements 
      are based on reasonable assumptions, the Company can give no assurance 
      that its expectations will be attained. Factors that could cause 
      actual results to differ materially from the Company’s 
      expectations include completion of the audit of our financial 
      statements, completion of pending investments, continued ability to 
      originate new investments, the mix of business between tax-exempt and 
      taxable activities, the availability and cost of capital for future 
      investments, competition within the finance and real estate industries, 
      economic conditions, loss experience and other risks detailed from time 
      to time in the Company’s SEC reports. This 
      press release does not constitute an offer to sell any securities of the 
      Company or any other entity.
    
    
      MUNIMAE: INTEGRITY. INNOVATION. SERVICE.
    
    
      www.MuniMae.com
    
  
Municipal Mortgage & Equity, LLC (NYSE:MMA) announced today that
one of its subsidiaries, MuniMae TE Bond Subsidiary, LLC ("TEBS"), has
completed a $192 million, fixed rate bond securitization with a
private placement of Class A TEBS Tax-Exempt Multifamily Housing
Certificates, Series 2006A (the "Class A Certificates"). The Class A
Certificates have an initial term of 7 years, bear interest at 4.26%
per annum and are secured by 26 fixed rate tax exempt multifamily
housing revenue bonds. The net proceeds will be used to refinance $177
million of floating rate TEBS senior obligations and originate
investments in tax exempt revenue bonds.

   The securities referenced in this press release have not been and
will not be registered under the Securities Act of 1933 and may not be
offered or sold in the United States absent registration or an
applicable exemption from registration requirements.

   About MuniMae

   MuniMae and its subsidiaries arrange debt and equity financing for
developers and owners of real estate and clean energy projects. The
Company also provides investment management and advisory services for
institutional investors. Assets under management exceed $17 billion
including investments in over 3,000 multifamily properties, containing
more than 320,000 units in 49 states, the District of Columbia, Puerto
Rico and the U.S. Virgin Islands.

   MuniMae is organized as a limited liability company, which allows
it to combine the limited liability, governance and management
characteristics of a corporation with the pass-through features of a
partnership. As a result, the tax-exempt income derived from certain
investments remains tax-exempt when passed through to shareholders.
MuniMae also conducts activities through wholly owned taxable
corporate subsidiaries. Distributions to shareholders are normally
declared quarterly.

   Statements in this press release that are not historical fact may
be deemed forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Although the Company
believes the expectations reflected in any forward-looking statements
are based on reasonable assumptions, the Company can give no assurance
that its expectations will be attained. Factors that could cause
actual results to differ materially from the Company's expectations
include completion of the audit of our financial statements,
completion of pending investments, continued ability to originate new
investments, the mix of business between tax-exempt and taxable
activities, the availability and cost of capital for future
investments, competition within the finance and real estate
industries, economic conditions, loss experience and other risks
detailed from time to time in the Company's SEC reports. This press
release does not constitute an offer to sell any securities of the
Company or any other entity.

   MUNIMAE: INTEGRITY. INNOVATION. SERVICE.

   www.MuniMae.com