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ST. LOUIS, September 20, 2005—Gershman Mortgage, one of the largest mortgage lenders in St. Louis, provided over $4 million to refinance Horace Mann Apartments in Indiana and Westview Manor in West Virginia. For more than 50 years, Gershman has provided financing for residential real estate in the St. Louis region, and for commercial multi-family projects nationwide.

Gershman provided $2,563,500 in financing for Horace Mann. The 123-unit apartment complex is located in Gary, Indiana. The loan is financed with GNMA mortgage backed securities and insured by the FHA under Section 221 (d) (4) of the National Housing Act. The project was made possible by additional financing from Hope VI Funds, tax credit proceeds, and grants from the city of Gary, Indiana. Construction on the apartment complex has begun.

Gershman provided $1,515,000 in financing for Westview Manor. The 101-unit apartment complex is located in Huntington, West Virginia. The loan is financed with GNMA mortgage backed securities and insured by the FHA under Section 223 (a) (7) of the National Housing Act. The project was made possible by the Department of Housing & Urban Development, Office of Affordable Housing Preservation Restructuring.

Gershman is the oldest independent mortgage company in St. Louis, and one of the largest in Missouri. Gershman is an area leader in FHA/VA and conventional single-family home loans, having financed over 75,000 loans in the St. Louis area alone. Nationally, Gershman services over half a billion dollars in loans for multi-family and healthcare facilities. Gershman provides all types of financing for apartments, nursing homes, assisted living facilities, and hospitals. Gershman Mortgage is one of only 63 lenders in the country approved for MAP (Multi-family Accelerated Processing) for apartments, assisted living and nursing homes.

Gershman Mortgage’s website is located at www.gershman.com. The site’s commercial side outlines the products and programs available to commercial borrowers. It provides links to important resources and includes a list of documents necessary for reviewing loan requests. In addition, the site highlights projects and facilities financed by Gershman Mortgage.

Gershman Mortgage has offices in Clayton and St. Peters, MO, Fairview Heights, IL and Southern Illinois and can be found on the web at www.gershman.com. Gershman’s Clayton office is located at 7 North Bemiston. The main phone number is (314) 889-0600 or 1-800-GERSHMAN.