News Release

DANA POINT, Calif.--(BUSINESS WIRE)--Feb. 10, 2004--Impac Mortgage Holdings Inc. (NYSE:IMH) will be presenting on February 17, 2004 at the Roth Capital Partners 16th Annual Growth Stock Conference taking place at the St. Regis Monarch Beach Resort and Spa in Dana Point, CA.

What:     Impac Mortgage Holdings, Inc. Presents at the 16th Annual
          Roth Capital Partners Growth Stock Conference

When:     Tuesday, February 17, 2004, 10:00 a.m. PST

Where:    http://www.vcall.com/CEPage.asp?ID=85626 or
          www.impaccompanies.com under Presentations. The conference
          will be archived for 10 days. A copy of the presentation
          will also be posted on Impac Mortgage Holdings, Inc.'s web
          site.

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 register and to
          install the needed software. Minimum software required to
          listen is Windows Media Player, downloadable free at
          http://windowsmedia.com/download/download.asp

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 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.

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

About the Roth Capital Partners 16th Annual Growth Stock Conference

This annual event is the largest in the nation for emerging growth companies. It provides a concentrated forum where Institutional Investors can meet the executives of growth companies hand-picked by Roth Capital's research team. The conference will highlight approximately 225 companies from industry groups including Health Care, Consumer Products, Technology and Financial Services. This year, as a result of numerous client requests, Roth has extended the conference to three working days, including a Discovery Day, which will highlight companies "undiscovered" by Wall Street. For more information about the conference, visit http://www.apgweb.com/roth/danapoint/.

    CONTACT: Impac Mortgage Holding Inc.
             Tania Jernigan, 949-475-3722
             tjernigan@impaccompanies.com

    SOURCE: Impac Mortgage Holdings Inc.