FICC Fieldstone Investment Corp (MM)

COLUMBIA, Md., May 19 /PRNewswire-FirstCall/ -- Fieldstone Investment Corporation (NASDAQ:FICC) announced today that the Securities and Exchange Commission has declared effective its Post-Effective Amendment No. 3 to its Registration Statement on Form S-11 relating to the resale of 43,328,933 shares of its common stock. The post-effective amendment converts the resale Registration Statement into a resale Registration Statement on Form S-3, which allows Fieldstone to incorporate by reference its periodic reports into the Registration Statement. By incorporating its periodic reports into the Registration Statement, the Company will not be required to suspend the use of the Registration Statement to update the prospectus due to the filing of these reports. The Registration Statement primarily facilitates the public resale of privately placed securities sold initially in the fourth quarter of 2003 in a Rule 144A offering. The effectiveness of this amendment to the Registration Statement ends the suspension of the use of the Registration Statement by the selling stockholders announced on April 3, 2006. A copy of the prospectus may be obtained by sending a written request to Fieldstone Investment Corporation, 11000 Broken Land Parkway, Columbia, Maryland 21044, Attention: Investor Relations, or an email to . A copy of the prospectus is also available on the SEC's website at http://www.sec.gov/. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. About Fieldstone Investment Corporation Fieldstone Investment Corporation owns and manages a portfolio of non- conforming mortgage loans originated primarily by its mortgage origination subsidiary, Fieldstone Mortgage Company, and has elected to be a real estate investment trust for federal income tax purposes. Founded in 1995, Fieldstone Mortgage Company is a nationwide residential mortgage banking company that originates non-conforming and conforming residential mortgage loans through over 4,300 independent mortgage brokers serviced by regional wholesale operations centers and a network of retail branch offices located throughout the country. Fieldstone is headquartered in Columbia, Maryland. To find out more about Fieldstone, please visit http://www.fieldstoneinvestment.com/. DATASOURCE: Fieldstone Investment Corporation CONTACT: Investor Relations of Fieldstone Investment Corporation, +1-410-772-5160, or +1-866-438-1088, or Web site: http://www.fieldstoneinvestment.com/

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