MHL Mortgageit Hldgs

MortgageIT Holdings, Inc. Declares First Regular Quarterly Common Stock Dividend of $0.48 Per Share NEW YORK, March 16 /PRNewswire-FirstCall/ -- MortgageIT Holdings, Inc. (NYSE:MHL), a residential mortgage company organized as a real estate investment trust (REIT), today announced that its Board of Directors has declared a cash dividend of $0.48 per common share for the first quarter of 2005. The dividend is payable on April 15, 2005, to shareholders of record as of March 31, 2005. The ex-dividend date is March 29, 2005; therefore, new shareholders interested in receiving the first quarter dividend must purchase common stock on or before March 28, 2004. The dividend represents the distribution of more than 90% of the estimated taxable earnings for the period from January 1, 2005 through March 31, 2005, exclusive of any net income earned by its taxable REIT subsidiary, MortgageIT, Inc., during the period, and therefore is not expected to be a return of capital. Doug Naidus, MortgageIT Holdings' Chairman and CEO said, "Establishing our full quarterly dividend of $0.48 per share is an important achievement for our company, reflecting the performance of our $3 billion fully self-originated residential loan portfolio." About MortgageIT Holdings, Inc. MortgageIT Holdings, Inc. (NYSE:MHL) was formed to act as the holding company of MortgageIT, Inc. (MortgageIT), its wholly owned residential mortgage lending subsidiary. MortgageIT is a full-service residential mortgage banking company that is licensed to originate loans throughout the United States. MortgageIT originates single-family residential mortgage loans of all types, with particular focus on prime adjustable-rate (ARM) and fixed- rate, first-lien residential mortgage loans. MortgageIT Holdings is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes. MortgageIT is organized and operates as MortgageIT Holdings' taxable REIT subsidiary. Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our ability to fund a fully- leveraged, self-originated loan portfolio, our anticipated loan funding volume and our ability to pay dividends. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. MortgageIT Holdings can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from MortgageIT Holdings' expectations include, but are not limited to, MortgageIT's continued ability to originate new loans, including loans that we deem suitable for our securitization portfolio; changes in the capital markets, including changes in interest rates and/or credit spreads; and other risks detailed in MortgageIT Holdings' Registration Statement on Form S-11 that was declared effective by the Securities and Exchange Commission (SEC) on July 29, 2004 and from time to time in MortgageIT Holdings' SEC Reports. Such forward-looking statements speak only as of the date of this press release. MortgageIT Holdings expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. DATASOURCE: MortgageIT Holdings, Inc. CONTACT: Investors - Sean McGrath, +1-646-346-8700, or Media - Ted Swiecichowski, +1-212-651-7653, both of MortgageIT Holdings, Inc.; or Joe LoBello of Brainerd Communicators, Inc., +1-212-986-6667, for MortgageIT Holdings, Inc. Web site: http://www.mortgageitholdings.com/

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