November 30, 2000

ROCKVILLE, Md. – Criimi Mae Inc. (NYSE:CMM) has increased its six-member board of directors to nine and appointed five new directors, including three real estate industry executives.

Among the five new members are Donald J. MacKinnon, chief executive officer and president of the Realm, Donald C. Wood, senior vice president and chief operating officer of Federal Realty Investment Trust, and Michael F. Wurst, principal of Meridian Realty Advisors Inc. in Dallas.

Also named were Alan M. Jacobs, president of AMJ Advisors LLC in Woodmere, N.Y., and John R. Cooper, senior vice president for finance at PG&E National Energy Group and chief financial officer of PG&E Generating Co., a subsidiary of the National Energy Group.

Garrett G. Carlson, Sr. and G. Richard Dunnells will resign as directors when Criimi's reorganization plan goes into effect.

The four other current members will remain. They are: William B. Dockser, chairman of Criimi; H. William Willoughby, president of Criimi; Robert J. Merrick, chief credit officer and director of MCG Credit Co. in Richmond, Va.; and Robert E. Woods, managing director and head of loan syndication for the Americas at Societe Generale in New York.

The increase in the size of the board is scheduled to take effect when the company is reorganized, while the appointment of the new directors is subject to the approval of certain creditors.