Accredited Home Lenders Holding Co. (Nasdaq:LEND) announced today that the Board of Trustees of its subsidiary, Accredited Mortgage Loan REIT Trust (NYSE:AHH.PrA), has on December 2, 2004, declared a quarterly cash dividend on Accredited Mortgage Loan REIT Trust's 9.75% Series A Perpetual Cumulative Preferred Shares at the rate of $0.609375 per share. The dividend will be paid on December 31, 2004 to preferred stockholders of record at the close of business on December 15, 2004.

About Accredited

Accredited Home Lenders Holding Co. is a nationwide mortgage-banking company that originates, finances, securitizes, sells and services non-prime mortgage loans secured by residential real estate. The company, founded in 1990, is headquartered in San Diego, CA. Additional information may be found at www.accredhome.com.

About Accredited Mortgage Loan REIT Trust

Accredited Mortgage Loan REIT Trust, a subsidiary of Accredited Home Lenders Holding Co., is a Maryland real estate investment trust that was formed in May 2004 for the purpose of acquiring, holding and managing real estate assets.

Forward Looking Statement

Certain of the information discussed herein constitutes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements regarding the financing plans of Accredited Home Lenders Holding Co. and Accredited Mortgage Loan REIT Trust, their prospects and future results, planned revenue generating strategy, expected net earnings, origination volume, whole loan premiums, hedging strategy and results and future dividends. Such statements are based on current expectations, and the actual results and the timing of certain events could differ materially from those projected in or contemplated by these forward-looking statements due to a number of factors, including but not limited to financial market conditions, interest rate volatility and the level of interest rates generally; general political and economic conditions; the sustainability of loan origination volumes; the availability of financing for the origination of mortgage loans; the ability to sell or securitize mortgage loans; and other risk factors outlined in Accredited Home Lenders Holding Co.'s filings with the Securities and Exchange Commission ("SEC"), including those listed in the prospectus supplement and accompanying prospectus for the offering of the Series A Perpetual Cumulative Preferred Shares, Accredited Home Lenders Holding Co.'s other risk factors outlined in its annual report on Form 10-K filed with the SEC on March 26, 2004, its reports on Form 10-Q filed with the SEC on May 17, 2004, August 16, 2004, and November 15, 2004 and other SEC filings.