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GERSHMAN INVESTMENT CORP. NAMED ONE OF NATION’S “TOP COMMERCIAL SERVICERS”

ST. LOUIS, November 14, 2002—St. Louis-based Gershman Investment Corp. was listed as one of the nation’s “Top Commercial Servicers” in the October 2002 issue of Mortgage Servicing News. Based on numbers from March 31, 2002, the survey lists Gershman’s volume of loans serviced at $358 million, 32nd nationwide. This marks a 21% increase from their March 31, 2001 volume of $295 million. It is anticipated that the volume of loans serviced will exceed $500 million over the next 12 months. Gershman is the only St. Louis-domiciled company listed.

The oldest independent mortgage company in St. Louis, Gershman Investment Corp. has been providing financing for the St. Louis community for 50 years. One of only 58 lenders in the country approved for MAP (Multi-family Accelerated Processing) for apartments, assisted living, and nursing homes, Gershman is one of the largest independent mortgage bankers in the State of Missouri. Incorporated in 1953, Gershman is active in providing financing for multi-family projects, most of which are HUD insured, in more than 10 states nationwide. The company specializes in providing and servicing all types of financing for apartments, nursing homes, assisted living facilities, and hospitals utilizing tax free and taxable bonds. Ranked among the largest mortgage lenders in the metropolitan St. Louis area, Gershman is one of the area’s leaders in FHA/VA and conventional single-family home loans, having financed over 50,000 homes in the St. Louis area alone.

Gershman has offices in Clayton, St. Peters, and Fairview Heights, IL 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.