News Release

NEWPORT BEACH, Calif., May 27 /PRNewswire-FirstCall/ -- Impac Mortgage Holdings, Inc. (NYSE: IMH), or the "Company," a real estate investment trust ("REIT"), announced today that it would be presenting at the following conference. You are invited to listen to the presentation that will be webcasted live.

     NAREIT 2005 Institutional Investor Forum, New York, NY

     Date:       Wednesday, June 8, 2005, live webcast at 8:45 am ET
     Presenter:  William S. Ashmore, President and COO
     Webcast:    www.impaccompanies.com link to Investor
                 Relations/Presentations.  The conference will be archived for
                 90 days beginning on June 8, 2005.

     Monthly Fact Sheet

The Company posts to its web site an unaudited monthly fact sheet. The unaudited monthly fact sheet is posted on or around the last day of the following month. For example, the January unaudited monthly fact sheet was available on March 1, 2005. The exception to this rule is unaudited monthly fact sheets that fall on quarter end periods. In this case they will be posted with the release of earnings or filing of our form 10-Q for the respective period. The April 2005 unaudited monthly fact sheet will be posted on Friday, June 3, 2005. 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 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 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.
    -0-                             05/27/2005
    /CONTACT:  Tania Jernigan, VP of 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
IN:  FIN RLT
SU:  TDS CCA MAV

SF-AJ
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9671 05/27/2005 17:20 EDT http://www.prnewswire.com