JRT Jer Investors Trust

MCLEAN, Va., March 4 /PRNewswire-FirstCall/ -- JER Investors Trust Inc. (NYSE:JRT) announced today the commencement of a $150 million public offering of 10,000,000 shares of its Class A Common Stock, a new class of common stock of JRT. Each share of Class A Common Stock represents rights equal to those of 15 shares of JRT's existing common stock as to all matters, including dividends, rights upon liquidation, dissolution or winding up, and voting rights. JRT intends to apply to list the Class A Common Stock on the New York Stock Exchange under the symbol "JRT.A". As previously announced, JRT expects to use the net proceeds of the offering primarily to invest in senior investment grade tranches of commercial mortgage backed securities, or CMBS. JRT also intends to use approximately $15.7 million of the net proceeds to repurchase all of its outstanding trust preferred securities with an aggregate liquidation amount of $60.0 million, contingent on the completion of this offering. JMP Securities LLC is acting as book-running manager and Friedman, Billings, Ramsey & Company, Inc. is acting as co-manager for the offering. The Class A Common Stock will be offered pursuant to JRT's existing effective shelf registration statement on file with the SEC. Copies of a prospectus supplement and the accompanying prospectus for the offering may be obtained from the SEC's website at http://www.sec.gov/, and, when available, from: JMP Securities LLC Prospectus Department 600 Montgomery Street, 11th Floor San Francisco, CA 94111 (415) 835-8900 This press release shall not constitute an offer to sell, nor a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. JRT is a New York Stock Exchange listed specialty finance company that invests in commercial real estate structured finance products. JRT's target investments primarily include commercial mortgage backed securities, whole commercial mortgage loans, mezzanine loans and net leased real estate assets. JRT is organized and conducts its operations so as to qualify as a REIT for federal income tax purposes. For more information regarding JRT, please visit http://www.jer.com/. Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements. JER Investors Trust can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from JER Investors Trust's expectations include, but are not limited to, changes in the real estate and capital markets, our liquidity, our ability to source and fund new investments and other risks detailed from time to time in JER Investors Trust's SEC reports. Such forward-looking statements speak only as of the date of this press release. JER Investors Trust expressly disclaims any obligation to release publicly any updates or revisions to any forward- looking statements contained herein to reflect any change in JER Investors Trust's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. CONTACT: J. Michael McGillis Chief Financial Officer JER Investors Trust Inc. (703) 714-800 DATASOURCE: JER Investors Trust Inc. CONTACT: J. Michael McGillis, Chief Financial Officer, JER Investors Trust Inc., +1-703-714-8000 Web Site: http://www.jer.com/

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