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For Immediate Release: June 23, 2008 CONTACT: Henry Fawell (410) 545-5830

Chicago Tribune Erroneously Reports on AmeriDream’s Tax Status

GAITHERSBURG, MD – Ann Ashburn, President of AmeriDream, Inc., today issued the following statement after The Chicago Tribune incorrectly described the non-profit's tax-exempt status.

"The June 22nd edition of The Chicago Tribune erroneously stated that AmeriDream, Inc., had lost its tax-exempt status. This statement is false. We requested a correction from The Tribune on June 23rd and await final printed confirmation of the correction. AmeriDream remains a taxexempt organization and continues to offer its downpayment assistance program funded in part by seller participation," said Ashburn.

BACKGROUND ON AMERIDREAM: Charitable downpayment assistance funded in part with seller participation has allowed homeownership to grow without using taxpayer dollars. To date, more than one million families and individuals have utilized this downpayment assistance, generating nearly $10 billion in home equity for those families between 2000 and 2005. AmeriDream has provided more than 250,000 gifts to HUD-approved aspiring homeowners, approximately 80% of whom were first-time homebuyers. AmeriDream also has helped educate 60,000 homebuyers through homebuyer education courses, helped 1,200 homeowners retain their homes when confronted with mortgage difficulties, and committed over $30 million to affordable housing development in local communities.