Aames Investment Corporation Hires Senior Vice President of Corporate Development and Investor Relations

Business Wire, April 6, 2005

LOS ANGELES -- Aames Investment Corporation (NYSE:AIC), a mortgage real estate investment trust, today announced that it has hired Steven C. Canup as Senior Vice President of Corporate Development and Investor Relations. Mr. Canup's responsibilities in the newly created position will include the refinement and expansion of the company's investor relation program, merger and acquisition activities and various strategic initiatives focused on realizing the inherent value in the company's operations.

A. Jay Meyerson, Chairman of the Board and Chief Executive Officer of Aames, commented, "After our successful conversion to a mortgage REIT and the completion of our IPO, we are well positioned to focus on longer term initiatives. The addition of Steven to our management team reflects our commitment to pursue both internal and external opportunities for further expansion and development. In addition, we believe that in this stage of our public company life, we require a professional who can also concentrate on strengthening our communication and interaction with the equity markets, including existing and potential research analysts and institutional investors. We were pleased to find an executive with Steven's mix of corporate finance, investor relations and strategic planning experience who can contribute to our growth as a public company."

Prior to joining Aames, Mr. Canup spent five years as the Senior Vice President of Corporate Strategy and Investor Relations at East West Bancorp, where he oversaw the significant expansion of the bank's research coverage as well as managed an active acquisition and corporate development program. Prior to East West, Mr. Canup spent 10 years in the corporate finance sector, primarily as an investment banker focused on financial institutions.

Contact Information

For more information, contact Steven C. Canup, in Aames Investment's Investor Relations Department at 323-210-5311 or at info@aamescorp.com via email.

Information Regarding Aames

Aames is a mortgage REIT and, through its subsidiary Aames Financial Corporation, originates mortgage loans in 47 states. Aames Financial is a fifty-year old national mortgage banking company focused primarily on originating subprime residential mortgage loans through wholesale and retail channels under the name "Aames Home Loan." To find out more about Aames, please visit www.aames.net.