News Release

NEWPORT BEACH, Calif., Mar 29, 2002 /PRNewswire-FirstCall via COMTEX/ -- Impac Mortgage Holdings, Inc. (Amex: IMH) announced today that it will be presenting at the American Stock Exchanges' upcoming online conference, "Where Savvy Investors Meet Undiscovered Companies." You are invited to listen to management's slide presentation that will be webcast live during the conference on Tuesday, April 2, 2002 at 1:00 p.m. PST (4:00 p.m. EST) with Mr. Joseph Tomkinson, Chairman and CEO of Impac Mortgage Holdings, Inc. The webcast information is as follows:

     What:     Impac Mortgage Holdings, Inc.
               Presents at the American Stock Exchange Online Conference

     When:     Tuesday, April 2, 2002 1:00 p.m. (PST) 4:00 p.m. (EST)

     Where:    http://www.amex.com or http:/www.ccbn.com or
               http:/www.impaccompanies.com

     How:      Live over the Internet -- Simply log on to the web at one of
               the addresses above.  Listeners should go to one of the sites
               at least 15 minutes before the event to install the needed
               software.  Minimum software required to listen is Windows Media
               Player, downloadable free at
               http://windowmedia.com/download/download/.asp

For questions please contact: Tania Jernigan, VP Investor Relations directly at (949) 475 3722 or email tjernigan@impaccompanies.com.

If you are unable to participate during the live webcast, the presentation will be archived on these sites for 90 days.

Impac Mortgage Holdings, Inc. is a Mortgage 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 non-conforming Alt-A mortgage loans. The Mortgage Operations acquires, originates, sells and securitizes primarily non-conforming 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 allows it generally to pass through earnings to stockholders without federal income tax at the corporate level.

                     MAKE YOUR OPINION COUNT - Click Here
               http://tbutton.prnewswire.com/prn/11690X95364618

SOURCE Impac Mortgage Holdings, Inc.

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

URL:              http://www.amex.com 
                  http://www.ccbn.com 
                  http://www.impaccompanies.com 
http://www.prnewswire.com

Copyright (C) 2002 PR Newswire.  All rights reserved.