MMA Muni Mtg & Equ Llc

MuniMae (the "Company") (NYSE:MMA), announced today that its Board of Directors has declared a distribution of $0.4875 per common share for the third quarter of 2005, payable on November 11, 2005, to shareholders of record as of October 31, 2005. MuniMae's third quarter distribution equates to $1.95 per common share on an annualized basis, representing an 8.0% annualized yield based on the $24.50 per share closing price on October 20, 2005. Management Announces Earnings Release and Conference Call The Company expects to release 2005 third quarter earnings on November 7, 2005. Management will host a conference call on November 8, 2005 at 9:00am ET to review the Company's third quarter results. All interested parties are welcome to attend the live webcast, which can be accessed through the "Shareholder" section of our web site at www.MuniMae.com. You may also join the conference call by dialing 877-464-5945 (no Passcode required). A telephone archived replay of the event will be available through Wednesday, November 16, 2005, at 800-642-1687 (Passcode: 1513406). The call will also be archived on our Company website through Friday, November 18, 2005. About MuniMae MuniMae and its subsidiaries provide debt and equity financing to developers of multifamily housing and other real estate investments. Assets under management as of today are approximately $15 billion secured by 2,800 properties, containing 303,000 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 income features of a partnership. As a result, the tax-exempt income derived from certain investments remains tax-exempt when passed through to shareholders. Distributions to shareholders are normally declared quarterly and paid in February, May, August and November. 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 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