TWH The Washtenaw Grp.

Washtenaw Mortgage Introduces 40-Year Mortgage ANN ARBOR, Mich., May 11 /PRNewswire-FirstCall/ -- Washtenaw Mortgage Company, is now offering 40-year residential mortgages, a first for many of the 40 states in which the Company conducts business, Charles C. Huffman, Chairman and CEO, announced today. Washtenaw Mortgage Company, the wholly owned subsidiary of The Washtenaw Group, Inc. (AMEX:TWH), is one of the nation's leading wholesale mortgage companies. It originates, acquires, sells and services mortgage loans. The Company is headquartered in Ann Arbor, Michigan, and conducts business through some 2,000 mortgage brokers in approximately 40 states. Mr. Huffman said the new mortgage offers homebuyers lower monthly payments, enables purchasers to qualify for larger loans, and eliminates the risk of payment increases typical with ARMs and Interest Only loans. "Mortgage flexibility has become a watchword and innovative products such as our new 40-year mortgage are needed for first-time or younger buyers in hot markets where housing prices have skyrocketed in recent years. It also makes sense for someone whose income is ratcheting-up and they want to buy a larger home before prices rise further but without payment fluctuation," he said. He noted that the 40-year mortgage was the latest in a string of new products, that includes zero-down, interest-only and Alt. A, or No-Document loans. Details at http://www.washtenawmortgage.com/ . Safe Harbor. This news release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to risks and uncertainties, which could cause actual results to differ materially from those described in the forward- looking statements. Among these risks are regional and national economic conditions, competitive and regulatory factors, legislative changes, mortgage- interest rates, cost and availability of borrowed funds, our ability to sell mortgages in the secondary market, and housing sales and values. These risks and uncertainties are contained in the Corporation's filings with the Securities and Exchange Commission, available via EDGAR. The Company assumes no obligation to update forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such forward-looking statements. DATASOURCE: The Washtenaw Group, Inc. CONTACT: Charles C. Huffman of The Washtenaw Group, Inc., +1-734-662-9733; or Mike Marcotte of Marcotte Financial Relations, +1-248-656-3873, for The Washtenaw Group, Inc. Web site: http://www.washtenawmortgage.com/

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