EX-99
2
aim85_earnpr030805.txt
AIM 85 EARNINGS PRESS RELEASE 030805



                                                                 EXHIBIT 99


Contact:          Susan B. Raile                      FOR IMMEDIATE RELEASE
                  (301) 255-4740
                  Sharon Bramell
                  (301) 255-4742

        AIM 85 REPORTS FOURTH QUARTER NET EARNINGS OF TWO CENTS PER UNIT

                       2004 Earnings of 30 Cents per Unit
                      ------------------------------------

     ROCKVILLE,  MD,  March 8,  2005--(AMEX/AII)  -- American  Insured  Mortgage
Investors-Series  85,  L.P.  (AIM 85),  a  liquidating  partnership  that  holds
investments in government insured multifamily  mortgages,  reported net earnings
for the three months  ended  December 31, 2004 of  approximately  $260,000  (two
cents per unit)  compared to  approximately  $1.1 million (eight cents per unit)
for the three months ended  December 31, 2003.  AIM 85 reported net earnings for
the year ended  December  31, 2004 of  approximately  $3.8 million (30 cents per
unit)  compared to  approximately  $5.6 million (44 cents per unit) for the year
ended December 31, 2003.

     Net earnings  decreased for the three and twelve months ended  December 31,
2004 as  compared  to the same  periods in 2003  primarily  due to a decrease in
mortgage  investment  income  resulting from the reduction in the mortgage base.
The  mortgage  base  decreased  as a result of 7 mortgage  dispositions  with an
aggregate  principal  balance of  approximately  $31  million,  representing  an
approximate  68%  decrease  in the  aggregate  principal  balance  of the  total
mortgage portfolio since December 2003.

     The decrease in net earnings for the twelve months ended  December 31, 2004
was partially offset by an increase in net gains on mortgage dispositions, and a
decrease in asset  management fees due to the decreasing  mortgage base.  During
2004,  AIM 85  recognized  net gains of  approximately  $2.1  million from three
mortgage  prepayments,  one assignment and the sale of three  mortgages.  During
2003, the Partnership  recognized net gains of  approximately  $1.5 million from
eight mortgage prepayments and six mortgage assignments.

     As of  December  31,  2004,  AIM 85 had  investments  in 8 fully  federally
insured  mortgages  and  one  debenture  with  an  aggregate  amortized  cost of
approximately  $15.9 million, a face value of approximately  $16.0 million and a
fair value of approximately $16.0 million.

     AIM 85 distributes  net proceeds,  if any, from mortgage  dispositions  and
debenture redemptions to its investors,  in addition to distributions of regular
cash flow.  As AIM 85  continues  to  liquidate  its  mortgage  investments  and
investors  receive  distributions  of  return  of  capital  and  taxable  gains,
investors  should  expect a reduction in earnings and  distributions  due to the
decreasing  mortgage base.  Based upon the current level of interest rates,  the
trend in mortgage  prepayments  over the last year is likely to  continue.  Such
mortgage prepayments,  if continued at the trend over the past year, will likely
result in a termination and liquidation of the Partnership significantly earlier
than the  December  2009  stated  termination  date.  Upon the  termination  and
liquidation  of the  Partnership,  distributions  to  investors  will be made in
accordance with the terms of the  Partnership  Agreement.  A final  distribution
will be based on the  unitholders' and General  Partner's  pro-rata share of the
Partnership's  remaining  net assets after  deducting  and setting aside amounts
required to satisfy and  discharge  any  existing  Partnership  obligations  and
expenses  as  stated  in  the  Partnership   Agreement.   Such  distribution  to
unitholders  will be  substantially  less than the amount  referenced in limited
partners' equity in the Partnership's financial statements.

                                 -table follows-



              AMERICAN INSURED MORTGAGE INVESTORS - SERIES 85, L.P.

                              STATEMENTS OF INCOME

For the three months ended For the years ended December 31, December 31, 2004 2003 2004 2003 -------------- ------------ ------------ ----------- Income: Mortgage investment income $ 321,142 $ 1,100,595 $ 2,089,159 $ 4,846,437 Interest and other income 39,597 92,068 222,374 233,299 ---------- ----------- ----------- ----------- 360,739 1,192,663 2,311,533 5,079,736 ---------- ----------- ----------- ----------- Expenses: Asset management fee to related parties 36,405 142,140 268,885 611,417 General and administrative 64,801 64,205 296,936 393,410 ---------- ----------- ----------- ----------- 101,206 206,345 565,821 1,004,827 ---------- ----------- ----------- ----------- Earnings before gains (losses) on mortgage dispositions 259,533 986,318 1,745,712 4,074,909 Mortgage dispositions Gains - 135,858 2,126,903 1,509,197 Losses - (11,415) (71,836) (11,415) ---------- ----------- ----------- ----------- Net earnings $ 259,533 $ 1,110,761 $ 3,800,779 $ 5,572,691 ========== =========== =========== =========== Net earnings per limited partnership unit - basic and diluted $ 0.02 $ 0.08 $ 0.30 $ 0.44 ========== =========== =========== =========== Limited partnership units outstanding as of December 31, 12,079,514 12,079,514 12,079,514 12,079,514 ========== =========== =========== ===========
CAPTION> Balance Sheet Data: As of December 31, 2004 2003 ------------ ---------- Investment in insured mortgages 14,299,980 45,775,507 Investment in debentures 1,741,873 10,335,670 Total assets 16,802,268 69,048,427

The following information was filed by American Insured Mortgage Investors Series 85 L P on Wednesday, March 9, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate American Insured Mortgage Investors Series 85 L P's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by American Insured Mortgage Investors Series 85 L P.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account