BALTIMORE, MD (NYSE: MMA) between May 3, 2004 and January 29, 2008, inclusive (the "Class Period"). Brower Piven, through its Baltimore office, is one of the counsel for the plaintiff in this lawsuit.

MuniMae provides debt and equity financing to developers of multifamily and commercial properties in the United States. The complaint alleges that the Company, and certain of its officers and/or directors, failed to disclose and misrepresented material adverse facts known to defendants, or recklessly disregarded by them, pertaining to MuniMae's business prospects, financial condition and financial performance. Specifically, the complaint alleges that during the Class Period the Company and the other defendants misled investors concerning the adequacy of the Company's internal controls and the value and performance of its tax-exempt bond portfolio. The Complaint alleges that defendants failed to disclose and misrepresented the true financial condition and operations of the Company.

No class has yet been certified in the above action. If you are a member of the proposed Class, you may, no later than March 31, 2008, ask the Court to allow you to serve as lead plaintiff for the proposed Class. To serve as a lead plaintiff, you must satisfy certain legal requirements.

If you have suffered a net loss for all transactions in MuniMae common stock between May 3, 2004 and January 29, 2008, inclusive, and you wish to obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven (without obligation or cost to you) at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or by mail sent to Brower Piven, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience in securities and class action litigation of over 40 years. If you choose to retain counsel, you may retain Brower Piven, or you may retain other counsel of your choice.

CONTACT: Brower Piven, A Professional Corporation Baltimore, Maryland Charles J. Piven 410-986-0036 Email Contact

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