News Release

IRVINE, Calif., May 24, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Impac Mortgage Holdings, Inc. (NYSE: IMH), or the "Company," a Maryland corporation, being taxed as a real estate investment trust ("REIT"), announced today that it will make a presentation at its Annual Stockholders Meeting to provide a general corporate overview. You are invited to listen to management's presentation that will be webcast live during the meeting on Tuesday, June 5, 2007 at 9:00 a.m. P.T. (12:00 p.m. E.T.) The webcast information is as follows:

    (Logo:  http://www.newscom.com/cgi-bin/prnh/20070305/LAM033LOGO)

    What:   Impac Mortgage Holdings, Inc.
            Annual Stockholder's Meeting & Presentation

    When:   Tuesday, June 5, 2007, 9:00 a.m. P.T. (12:00 p.m. E.T.)

    Where:  www.impaccompanies.com then link to Stockholder Relations /
            Presentations

    How:    Live over the Internet -- Simply log on to the web at the
            addresses above. Go to Impac Mortgage Holdings, Inc, link to
            Stockholder Relations and then to Presentations.

If you are unable to participate during the live webcast, the presentation will be archived on our web site for 90 days. A copy of the presentation will also be posted under Presentations.

Impac Mortgage Holdings, Inc. to Partcipate in Keefe, Bruyette & Woods 2007 Mortgage Finance Conference, New York, NY

You are also invited to listen to management's presentation that will be webcast live.

    Date:        Tuesday, June 12, 2007
    Panelist:    William Ashmore, President, Impac Mortgage Holdings, Inc.
    Panel Time:  3:30-4:45 p.m. E.T (12:30 - 1:45 p.m. P.T)
    Webcast:     http://www.kbw.com/news/conferenceMortgage.html or

                 www.impaccompanies.com  link to Stockholder
                 Relations/Presentations.

                 The conference will be archived 60 days after the conference.

About the Company

Impac Mortgage Holdings, Inc. is a mortgage REIT, which operates four core businesses: (1) the Long -Term Investment Operations, (2) the Mortgage Operations, (3) the Warehouse Lending Operations and (4) the Commercial Operations. The Long -Term Investment Operations invests primarily in non-conforming Alt -A ("Alt-A") mortgage loans and to a lesser extent small-balance commercial and multi-family loans originated by the Commercial Operations. The Mortgage Operations acquires, originates, sells and securitizes primarily Alt-A mortgage loans, the Warehouse Lending Operations provides short-term financing to mortgage loan originators and the Commercial Operations originates small-balance commercial and multi-family loans for sale to the Long-Term Investment Operations or to third parties. The Company is organized as a REIT for tax purposes, which generally allows it to pass through earnings to stockholders without federal income tax at the corporate level.

For additional information, questions or comments, please call Tania Jernigan, VP of Investor Relations at (949) 475-3722 or email tjernigan@impaccompanies.com. Web site: www.impaccompanies.com

SOURCE Impac Mortgage Holdings, Inc.

Tania Jernigan, VP of Investor Relations of Impac Mortgage Holdings, Inc., +1-949-475-3722, tjernigan@impaccompanies.com