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EXHIBIT 99.1
September 27, 2000
AMRESCO CAPITAL TRUST
REPORTS SHAREHOLDER APPROVAL OF LIQUIDATION AND DISSOLUTION
AND ANNOUNCES FIRST LIQUIDATING DISTRIBUTION
DALLAS - AMRESCO Capital Trust (Nasdaq: AMCT) reported today that its
shareholders have approved the liquidation and dissolution of the company under
the terms and conditions of a plan of liquidation and dissolution which was
previously approved by the company's Board of Trust Managers. At the company's
Annual Meeting, which was held on September 26, 2000, 78.5% of the company's
outstanding common shares were cast in favor of the liquidation and dissolution
proposal. Of the votes cast on this proposal, 99.5% were in favor of the
liquidation and dissolution. Also, at the Annual Meeting, shareholders approved
the reelection of Bruce W. Duncan and Robert H. Lutz, Jr. to serve as Trust
Managers for a three-year term, or until the company files articles of
dissolution.
The company also announced that its first liquidating distribution
pursuant to the plan of liquidation and dissolution will total $0.30 per share.
The dividend will be payable on October 19, 2000 to shareholders of record on
October 6, 2000.
AMRESCO Capital Trust specializes in providing senior and subordinated
structured financing to real estate owners and developers. The company is
managed by a subsidiary of AMRESCO, INC. (Nasdaq: AMMB), a Dallas-based small
and middle market business lending company. For more information about AMRESCO
Capital Trust, please visit the web site at www.amrescoct.com.
CONTACTS:
Tom Lewis [email protected]
(214) 953-7820
Jon Pettee [email protected]
(214) 953-7942
