All-Time High Leads to Expanded Staff, Development of Web-based System

FOR IMMEDIATE RELEASE -- October 31, 2001 - Chicago, Ill. -- For the first time, ABN AMRO Apartment Lending (AAAL), a division of ABN AMRO Mortgage Group, Inc., has exceeded $1 billion in production. Eclipsing this benchmark puts AAAL solidly on track to exceed its 2001 production goal of $1.3 billion.

"The volatility and decline of other markets, coupled with historically low interest rates, has driven investors to put their money into apartment properties, an investment that traditionally provides upside potential in value as well as solid annual cash flow," said Dean Lawrence, senior vice president of AAAL. "With the continually rising numbers in apartment occupancy and the increasing demand for rental living space, purchasing apartment properties is a sound financial decision. AAAL is positioned to provide funding and expertise for this type of investment."

"AAAL implemented new strategies in 2001 that have directly impacted the bottom line. Besides increasing both our minimum and maximum loan amounts, we have also expanded staff and shifted sales efforts to concentrate on the largest metropolitan areas of the United States," explained Lawrence. "By concentrating on those markets with the most potential for investors, AAAL has opened the doors to building its vendor base, which, in turn, will allow for the service of more loan volume."

"Our production goal for 2002 is ambitious and, with the right strategy, attainable: To be the largest producer of small apartment loans in the nation," Lawrence continued. "AAAL believes that technology is the key to meeting this goal and has been developing a Web-based system which will improve the efficiency of AAAL's lending process and allow customers as well as vendors to input and access data via the Internet. We're expecting an early 2002 roll out of the internal processing phase and completion of the external customer and vendor phase later in 2002 with some vendor processes already operational."

Although AAAL's services are available nationwide, the largest portion of its business is transacted in the western half of the United States, with its clients predominantly from California and Illinois.

Jenn Cornell
Eiler Communications
900 Victor's Way, Suite 180
Ann Arbor, Michigan 48108
734.761.3399
734.761.3724 fax