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GERSHMAN MORTGAGE OPENS NEW SOUTHERN ILLINOIS OFFICE

ST. LOUIS, September 9, 2005—Gershman Mortgage announced the opening of a new Southern Illinois office serving Carbondale, Marion, and surrounding areas. The new office will be Gershman’s fourth. Other locations include the company’s headquarters in St. Louis, and branch offices in St. Peters, MO and Fairview Heights, IL. Gershman Mortgage has provided financing for residential real estate in the St. Louis region, and for commercial multi-family projects nationwide for more than 50 years. Gershman, one of the oldest mortgage companies in St. Louis, is one of the largest in the Midwest.

“We are pleased to be opening this office to provide easy, convenient service for our customers in Southern Illinois,” said Albert J. Will, Jr., President of Gershman. “Our focus will be on serving single-family homebuyers in the area including first time buyers, refinancers, and those looking to move or add a second home.” The Southern Illinois office will offer a full complement of mortgage-related services including application intake, prequalification, underwriting, and closing home loans. Gershman regularly works with builders to meet the unique needs of families purchasing new construction.

The office will be headed by Angie Robinson, Vice President and Branch Manager for Gershman. Ms. Robinson has been with Gershman Mortgage for over eight years. She received her BS and MBA from Southern Illinois University- Carbondale. Ms. Robinson is a member of the SIU Alumni Association and Egyptian Board of Realtors.

The phone number for the Southern Illinois office is (618) 565-2220 or 1-888-GERSHMAN. In addition, Ms. Robinson can be reached by cell phone at (618) 567-9328.

Founded in 1953, Gershman Mortgage is the oldest independent mortgage company in St. Louis and one of the largest in Missouri. Gershman has financed over 75,000 home loans in the St. Louis area alone and is an area leader in FHA/VA and conventional single-family home loans. Gershman is ranked one of the top mortgage lenders issuing government-insured (FHA and VA) mortgages in Saint Clair County, Illinois.

Gershman Mortgage’s website is located at www.gershman.com. A resource for homebuyers, the site offers tips for first time buyers, a glossary of mortgage terms, guides to buying and refinancing, and current industry news. In addition, borrowers are able to access current rates and mortgage calculators, apply for mortgages using a secure online application, and pre-qualify themselves.

In addition to residential financing, Gershman was named one of the nation’s “Top Commercial Servicers” by Mortgage Servicing News. Gershman provides both conventional and HUD-insured financing for multifamily housing, skilled nursing homes, assisted living facilities, and hospitals. Gershman Mortgage is one of only 63 lenders in the country approved for MAP (Multi-family Accelerated Processing) for apartments, assisted living facilities, and nursing homes. Nationally, Gershman services over half a billion dollars in loans for multi-family and healthcare facilities. Gershman also ranked among the top 20 originators for Basic FHA multifamily programs.