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| Apex Mortgage Capital Schedules Special Shareholders Meeting to Approve Acquisition by American Home Mortgage
LOS ANGELES--(BUSINESS WIRE)--Sept. 9, 2003--Apex Mortgage Capital, Inc. (Amex: AXM) (the "Company") today announced that its Board of Directors has scheduled a special meeting of its shareholders on Tuesday, October 14, 2003 at 10:00 a.m. Pacific Standard Time for shareholders of record on September 5, 2003. The meeting will take place at the Los Angeles Marriott Downtown Hotel, 333 South Figueroa Street, Los Angeles, CA 90071. The purpose of the meeting is to vote on the acquisition of Apex by American Home Mortgage, Inc. (Nasdaq: AHMH). American Home Mortgage's Board of Directors has separately scheduled a special meeting of its shareholders on Tuesday, October 14, 2003 at 1:00 p.m. Eastern Standard Time for shareholders of record on September 5, 2003 at its headquarters in Melville, New York to vote on the company's reorganization into a real estate investment trust and its acquisition of Apex Mortgage Capital. Serious & personalized business, investment and technology intelligence for a serious advantage - BizVantage! About Apex Mortgage Capital Apex Mortgage Capital, Inc. is a financial company structured as a real estate investment trust. The Company primarily acquires United States agency securities, other mortgage related securities, and mortgage loans as well as equity and debt securities issued by other mortgage REITs. The Company is listed on the American Stock Exchange under the symbol "AXM." About American Home Mortgage American Home Mortgage Holdings, Inc. is an originator and servicer of residential mortgage loans. It operates 211 loan production offices located in 37 states, MortgageSelect, a leading online mortgage lender, three mortgage broker support centers and a loan servicing center. For additional information, please visit the Company's Web site at www.americanhm.com. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements above regarding the Company's expectations about the consummation of the merger constitute forward-looking statements within the meaning of the federal securities laws. The Company does not intend to, and disclaims any obligation to, issue updates, even if its outlook changes for these forward-looking matters. In addition, the Company's actual results and the timings of future events could differ materially from those projected in or contemplated by the Company's forward looking statements due to a number of factors, including changes in general economic conditions, overall interest rate movement, interest rate volatility, the consummation of the merger with American Home Mortgage, American Home Mortgage's dividend policy, the decline in book value, the shape of the yield curve, the availability of suitable mortgage assets, the availability of debt capital, mortgage prepayment rates, the impact of leverage, the effectiveness of the Company's hedging, the Company's taxable income and other risk factors set forth in the Company's SEC reports and the consequences of the Company's review of strategic initiatives. The Company's investment strategy is subject to change as a result of the foregoing factors or otherwise, which might further affect operating results.
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