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CRIIMI MAE Services Launches New Web Site for Commercial Mortgage Market

ROCKVILLE, Md., July 12 /PRNewswire/ -- CRIIMI MAE Services Limited Partnership (CRIIMI MAE Services), the mortgage-servicing affiliate of CRIIMI MAE Inc. (NYSE: CMM), has launched a new Web site for investors, loan servicers and other participants in commercial real estate loans and commercial mortgage-backed securities (CMBS).

The new commercial mortgage and CMBS Web site -- www.criimimaeservices.com -- provides registered users with detailed information on commercial mortgage assets in the $20 billion portfolio serviced by CRIIMI MAE Services.

The new mortgage-servicing Web site is the latest Internet site recently introduced by CRIIMI MAE Inc. and affiliates. CRIIMI MAE Inc. recently redesigned its site -- http://www.criimimaeinc.com -- to provide shareholders, the media, and general public with corporate and portfolio information about CRIIMI MAE Inc.

The mortgage-servicing company's site -- http://www.criimimaeservices.com -- provides reporting to CMBS investors in 26 CMBS transactions, and the site was built to support unlimited growth in the mortgage and CMBS servicing portfolio of CRIIMI MAE Services. The site also contains links to CMBS trustees, rating agencies, mortgage servicers and industry associations. Later this year, the company plans to add features that provide borrowers with access to their loan information.

The Internet-based delivery of portfolio information is the latest addition to the platform of commercial mortgage services that CRIIMI MAE Services provides to investors in commercial real estate loans and CMBS. The company's capabilities include acquisition support, mortgage servicing and special servicing.

CRIIMI MAE Services has recently been marketing its commercial mortgage expertise to investors and commercial mortgage companies. CRIIMI MAE Services is the master servicer, primary servicer, sub-servicer or special servicer for more than 3,500 commercial mortgage loans. The three primary rating agencies have approved CRIIMI MAE Services as a commercial loan servicer, master servicer, and special servicer.

"Our experience in dozens of CMBS transactions points to the value of offering a user-friendly Internet site for commercial mortgage investors and servicers," said Brian Hanson, senior vice president of CRIIMI MAE Services.

"The new site emphasizes security, ease-of-navigation and data compatibility with analytical programs," Mr. Hanson said. "We are able to conform to the reporting format developed through the Commercial Mortgage Securitization Association, which requires that data be easily downloaded for manipulation and analysis."

The site provides deal-specific reporting. The specific data provided for each CMBS transaction are governed by the servicing documents for each deal. These may include scheduled and actual loan balances as well as the most recent and historical property operating information.

"We are pleased with the response so far," said Mr. Hanson, who added that CRIIMI MAE Services will continue to listen to users and enhance the company's Web presence.

Behind the Web site is a state-of-the-art proprietary system for monitoring property operating performance, managing mortgage portfolios and handling loan servicing functions.

CRIIMI MAE Services Limited Partnership is engaged in commercial mortgage servicing and acquisitions support. It is an affiliate of CRIIMI MAE Inc. For CRIIMI MAE Inc. and other CMBS investors and servicers, it provides acquisition support, mortgage servicing and special servicing for commercial mortgages and CMBS. At March 31, 2001, it serviced a portfolio of commercial mortgage loans of more than $20 billion.

For further information, shareholders and securities brokers should contact Shareholder Services at CRIIMI MAE Inc. at 301-816-2300, e-mail [email protected] , and news media should contact James Pastore, of Pastore Communications Group LLC, at 202-546-6451, email [email protected] .

Note: Forward-looking statements contained in this release involve a variety of risks and uncertainties, which change over time. Actual results could differ materially from those anticipated in forward-looking statements. The risks and uncertainties include the condition of the capital markets; the trends in the CMBS market; competitive pressures; the ability of CRIIMI MAE Services to expand its business, which could be affected by, among other matters, competition and the availability of capital; the effect of future losses on CRIIMI MAE Inc.'s need for liquidity; the actions of creditors; the possibility that the parent company's trader election may be challenged on the grounds that the parent company is not in fact a trader in securities or that it is only a trader with respect to certain securities and that the parent company will, therefore, not be able to mark-to-market its securities, or that it will be limited in its ability to recognize certain losses, resulting in an increase in shareholder distribution requirements with the possibility that the parent company may not be able to make such distributions or maintain REIT status; the likelihood that mark-to-market losses will increase and decrease due to changes in the fair market value of the Parent company's trading assets; the possibility that the Series F and Series G Dividend Preferred Stock will not eliminate any or all of the Parent company's 1998 and 1999 tax liability or satisfy its REIT distribution requirements; the ability of CRIIMI MAE Services and CRIIMI MAE Inc. to obtain capital which could be affected by, among other matters, the cost and availability of such capital, general economic conditions, restrictive covenants under CRIIMI MAE Inc.'s credit facilities, results of operations, leverage, financial condition and business prospects; and the outcome of litigation to which CRIIMI MAE Services and CRIIMI MAE Inc. are a party, as well as the risks and uncertainties that are set forth from time to time in CRIIMI MAE Inc.'s SEC reports, including its Annual Report on Form 10-K for the year ended December 31, 2000 and in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2001. CRIIMI MAE Services provides no assurance that its Web site will be expanded to cover loan information for borrowers or any other additional information or services


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