News Release

NEWPORT BEACH, Calif., June 16 /PRNewswire-FirstCall/ -- Impac Mortgage Holdings, Inc. (NYSE: IMH), or the "Company," a Maryland corporation, 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 28, 2005 at 9:00 a.m. PDT (12:00 p.m. EDT) with Mr. Joseph R. Tomkinson, Chairman and CEO of Impac Mortgage Holdings, Inc. The webcast information is as follows:

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

     When:   Tuesday, June 28, 2005 9:00 a.m. (PDT) 12:00 p.m. (EDT)

     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
             Investor 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.

    Monthly Fact Sheet

The May 2005 unaudited monthly fact sheet will be posted on Thursday, June 30, 2005. The Company posts to its web site an unaudited monthly fact sheet on or around the last day of the following month. For example, the January 2005 unaudited monthly fact sheet was available on March 1, 2005. The exception to this rule is unaudited monthly fact sheets for quarter end periods. In this case, they will be posted with the release of earnings or the filing of our form 10-Q for the respective period. You can subscribe to receive instant notification of conference calls, new releases and the unaudited monthly fact sheets by using our e-mail alert feature located at the web site www.impaccompanies.com under Impac Mortgage Holdings, Inc. / Investor Relations / Contact IR / Email Alerts.

Impac Mortgage Holdings, Inc. is a mortgage real estate investment trust ("REIT") which operates three core businesses: (1) the Long-Term Investment Operations, (2) the Mortgage Operations, and (3) the Warehouse Lending Operations. The Long-Term Investment Operations invests primarily in Alt-A mortgage loans. The Mortgage Operations acquires, originates, sells and securitizes primarily Alt-A mortgage loans and the Warehouse Lending Operations provides short-term financing to mortgage loan originators. 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 questions please contact: Tania Jernigan, VP Investor Relations directly at (949) 475-3722 or email tjernigan@impaccompanies.com.

Website: www.impaccompanies.com

SOURCE  Impac Mortgage Holdings, Inc.
    -0-                             06/16/2005
    /CONTACT:  Tania Jernigan, VP Investor Relations of Impac Mortgage
Holdings, Inc., +1-949-475-3722, tjernigan@impaccompanies.com/
    /Web site:  http://www.impaccompanies.com /
    (IMH)

CO:  Impac Mortgage Holdings, Inc.
ST:  California, Maryland
IN:  FIN RLT INS
SU:  CCA MAV

AI-CM
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4861 06/16/2005 19:23 EDT http://www.prnewswire.com