MMA Muni Mtg & Equ Llc

MuniMae (NYSE:MMA) announced today that its Board of Directors declared a distribution of $0.4975 per common share payable on May 23, 2006, to shareholders of record as of May 10, 2006. This represents an increase of 4.2% over the distribution for the comparable period last year. On an annualized basis, the distribution equates to $1.99 per common share and represents a 7.4% yield based on the May 3, 2006 closing price of $26.95 per share. The stated yield does not take into account any higher net return investors may realize as compared with other investments because a portion of the distribution is exempt from Federal income taxes. About MuniMae MuniMae and its subsidiaries arrange debt and equity financing for developers of multifamily housing, and provide other real estate related investment management and advisory services. Assets under management are more than $16 billion secured by 3,000 properties, containing 330,000 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. 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