American Home Mortgage Investment Corp. Announces Private Label Agreement With Signature Bank NY Metropolitan Area Bank Chooses American Home's Mortgage Select to Manage Mortgage Loan Processing MELVILLE, N.Y., June 2 /PRNewswire-FirstCall/ -- American Home Mortgage Investment Corp. (NYSE:AHM), a mortgage real estate investment trust (REIT), today announced a private label agreement between its subsidiary, American Home Mortgage Corp. and Signature Bank (NASDAQ:SBNY), a New York-based full service commercial bank and Fair Housing Lender. Under the agreement, American Home Mortgage will provide mortgage loan processing capabilities to Signature Bank through its online mortgage channel, Mortgage Select. Signature Bank will continue to maintain its own client relationships and sales effort, including rate selection, product offering and service standards. By outsourcing their back-end processing and underwriting of mortgage loans to Mortgage Select, Signature Bank will continue operating its mortgage business with reduced overhead while offering its valued clients competitive interest rates. One of the reasons Signature Bank selected American Home Mortgage Investment Corp. is because it operates as a mortgage REIT, and therefore is capable of providing specialized products for financing co-ops and condominiums in metropolitan areas. Donald Henig, executive vice president of American Home Mortgage Investment Corp. stated, "We are excited about partnering with Signature Bank and offering additional value to their clients. Mortgage Select's private label program will provide Signature Bank's bankers with state-of-the-art processing and support technology. These features allow Signature Bank's private client teams to concentrate on client relationships and sales efforts as they maintain complete control throughout the mortgage loan process. In addition, as a result of our parent company's structure, we are able to offer Signature Bank a flexible, tailored solution with a wide array of mortgage products to support the needs of its clients in the metropolitan marketplace." Michael Merlo, senior vice president and chief credit officer at Signature Bank, added, "We expect this relationship to prove beneficial based on the large volumes of loans that American Home Mortgage Investment Corp. originates. These benefits will be passed onto clients in the form of better pricing and the lowest mortgage rates possible." In addition to new loan originations from the private label agreement, Columbia National Incorporated, another subsidiary of American Home Mortgage Investment Corp. will assume the servicing rights of approximately $46 million in existing loans from Signature Bank. About American Home Mortgage American Home Mortgage Investment Corp. (NYSE:AHM) is a mortgage real estate investment trust focused on earning net interest income from self-originated mortgage backed securities, and through its taxable subsidiaries, on originating and servicing mortgage loans for institutional investors. Mortgages are originated through a network of 279 loan production offices as well as through mortgage brokers and are serviced at the Company's Columbia, Maryland servicing center. For additional information, please visit the Company's Web site at http://www.americanhm.com/ . About Mortgage Select Mortgage Select is the Internet division of American Home Mortgage Corp. Launched in 1999, Mortgage Select continues to lead the industry in online technology and service. Mortgage Select acquires customers on a variable cost model through private labeling and co-branding partnerships. Mortgage Select supports two call centers located on each coast and is currently ranked as one of the top-20 Internet mortgage lenders. About Signature Bank Signature Bank, member FDIC, is a New York-based full-service commercial bank with 11 offices located throughout the New York metropolitan area serving the needs of privately owned business clients, their owners and senior managers through dozens of private client and investment groups. The Bank offers a wide variety of business and personal banking products and services as well as investment, brokerage, asset management and insurance products and services through its subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser, and member NASD/SIPC. Since commencing operations in May 2001, the Bank has grown to approximately $2.17 billion in assets, $1.74 billion in deposits, $259 million in equity capital and approximately $854 million in other assets under management as of March 31, 2004. For more information, please visit http://www.signatureny.com/ . Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains statements about future events and expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact, including, but not limited to earnings guidance and forecasts, projections of financial results, and expected future financial position, dividends and dividend plans and business strategy, is a forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause American Home's actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Specific factors that might cause such a difference include, but are not limited to: the potential fluctuations in American Home's operating results; American Home's potential need for additional capital, the direction of interest rates and their subsequent effect on American Home's business; federal and state regulation of mortgage banking; competition; American Home's ability to attract and retain skilled personnel; and those risks and uncertainties discussed in filings made by American Home with the Securities and Exchange Commission. Such forward-looking statements are inherently uncertain, and stockholders must recognize that actual results may differ from expectations. American Home does not assume any responsibility and expressly disclaims any responsibility, to issue updates to the forward-looking statements discussed in this press release, whether as a result of new information, future events or otherwise. DATASOURCE: American Home Mortgage Investment Corp. CONTACT: John D. Lovallo, Senior Vice President of Ogilvy Public Relations Worldwide, +1-212-880-5216, , for American Home Mortgage Investment Corp. Web site: http://www.americanhm.com/ http://www.signatureny.com/

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