VERO BEACH, Fla.--(BUSINESS WIRE)--Sept. 29, 2005--Bimini Mortgage Management, Inc. (NYSE:BMM), a real estate investment trust that invests primarily in residential mortgage-related securities, today announced management promotions. George H. Haas IV (age 29) has been promoted to Senior Vice President and Head of Mortgage Research and Trading. Amber K. Luedke, CPA, (age 28) has been promoted to Senior Vice President and Treasurer.

Haas joined Bimini in April 2004 as Vice President and head of Mortgage Research. Prior to that, he was Vice President of Risk Analytics in the Servicing Asset Risk Management Department of National City Mortgage Company. While there, Haas specialized in researching the impact of mortgage prepayments on a $155 billion servicing portfolio. Haas previously worked at HomeSide Lending Inc., where he was a member of the Capital Markets Finance Group, specializing in mortgage servicing rights, hedging and market risk oversight. Prior to that, he attended Oklahoma State University, where he received his MS degree in Economics, with an emphasis on econometric and statistical analysis, and his BS degree in Business Economics.

Luedke joined Bimini in September 2004 as Treasurer. Prior to that, she was a staff accountant for the public accounting firm Ahearn, Jasco + Company P.A., in Pompano Beach, Florida, where she gained valuable knowledge and understanding of the mortgage-backed securities industry. Luedke was previously a staff accountant for Kennedy and Coe, LLC, a public accounting firm in Kansas, where she specialized in taxation of the agricultural industry. Luedke received her Master of Accountancy degree in 2000 from Kansas State University and her BS in Business Administration from Kansas State University in 1999. She is licensed in Kansas and Florida as a Certified Public Accountant.

Commenting on the announcement, Jeffrey J. Zimmer, chairman, president and chief executive officer, said, "We are excited and pleased to announce these promotions, which reward the commitment, dedication, and hard work demonstrated by both Amber and George. The expertise and achievements of these individuals reflect the kind of leadership that will enable us to extend our record of growth and profitability."

Bimini Mortgage Management, Inc. invests primarily in residential mortgage-related securities issued by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae). It earns returns on the spread between the yield on its assets and its costs, including the interest expense on the funds it borrows.

CONTACT: Bimini Mortgage Management Inc., Vero Beach
Robert E. Cauley, 772-231-1400
www.biminireit.com
SOURCE: Bimini Mortgage Management, Inc.