Alan P. Hirmes has been elected chief financial officer of CharterMac and of American Mortgage Acceptance Co. as of March 31, 2004, when the current CFO of the two companies, Stuart A. Rothstein, plans to leave.Mr. Rothstein is leaving to "pursue other opportunities," the New York-based companies said. Mr. Hirmes is the chief operating officer of both companies and a member of their boards of trustees. He has spent 20 years of his 24 years in real estate finance with Related Capital Co., a CharterMac subsidiary that acts as adviser to AMAC, the companies said. Stuart J. Boesky is chief executive officer of CharterMac, a multifamily finance company, and AMAC, a multifamily real estate investment trust. They can be found online at http://www.chartermac.com and http://www.americanmortgageco.com.

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