AMC Financial Holdings, Inc. Announces Name Change, Reinstatement of Plan of Liquidation and Liquidating Dividend HOUSTON, April 23 /PRNewswire-FirstCall/ -- On April 13, 2004, AMC Financial Inc. (Pink Sheets: ACFL), a Delaware corporation, changed its name to AMC Financial Holdings, Inc. (the "Company"). On April 20, 2004, a private investment group acquired 1,953,949 shares of the Company held by Aegis Mortgage Company and 2,819,620 shares held or controlled by the majority stockholder of Aegis Mortgage Company (the "change in control"). The private investment group and persons affiliated with it presently own or control over 80% of the issued and outstanding shares of the Company. On April 22, 2004, the Company reinstated the plan of liquidation and dissolution which was adopted on September 12, 2000 and rescinded on September 8, 2003. On April 22, 2004, the Company declared a liquidating cash dividend in the amount of $1.75 per share, to be distributed on May 5, 2004 to shareholders of record on the close of business on April 30, 2004. The audited consolidated financial statements of the Company and its subsidiaries for the fiscal year ending December 31, 2003 have been issued and will be distributed to all shareholders of the Company. Effective on the change in control of the Company, the existing directors of the Company resigned and the following persons were elected to the board of directors of the Company: J. Heyward Taylor, Bill Goss, R. T. Gray and Martin Schwartz. Effective on the change in control of the Company, the existing executive officers of the Company resigned and J. Heyward Taylor was elected Chairman of the Board and Bill Goss was elected President and Chief Executive Officer of the Company. Contact: Michael C. Balog AMC Financial Holdings, Inc. 3250 Briar Park, Suite 400 Houston, TX 77042 Telephone: 713-458-6650 This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/. DATASOURCE: AMC Financial Holdings, Inc. CONTACT: Michael C. Balog, AMC Financial Holdings, Inc., +1-713-458-6650

Copyright