Firm Capital Mortgage Investment Trust - December and estimated special year-end distribution amounting to $0.173 per unit

    TSX Symbol FC.UN

    TORONTO, Dec. 17 /CNW/ - Firm Capital Mortgage Investment Trust (the
"Trust") (TSX: FC.UN) announced its monthly distribution for December in the
amount of $0.078 per unit. The Trust also announced an estimated special
year-end distribution (the "Special Distribution") of $0.095 per unit. These
distributions, totaling an estimated $0.173, are payable on January 15, 2008,
to Unitholders of record on December 31, 2007.
    The precise amount of the Special Distribution will be announced prior to
the payment date. The estimated Special Distribution recognizes that income
generated exceeds year-to-date distributions earned on the Trust's mortgage
investments. Accordingly, as the Trust's Declaration of Trust requires that it
distribute all taxable income earned in its fiscal year, a special year-end
distribution is necessary to meet this requirement for the year ended
December 31, 2007. The Special Distribution is not indicative of future
    The Trust has in place a Distribution Reinvestment Plan (DRIP) and Unit
Purchase Plan that is available to its Unitholders. The plans allows
participants to have their monthly cash distributions reinvested in additional
Trust units and grants participants the right to purchase, without commission,
additional units, up to a maximum of $12,000 per annum.

    The Trust, through its Mortgage Banker, Firm Capital Corporation, is a
non-bank lender providing residential and commercial short-term bridge and
conventional real estate financing, including construction, mezzanine and
equity investments. The Trust's investment objective is the preservation of
Unitholders' equity, while providing Unitholders with a stable stream of
monthly distributions from investments. The Trust achieves its investment
objectives by pursuing a strategy of growth through investments in selected
niche markets that are under-serviced by large lending institutions. Lending
activities to date continue to develop a diversified mortgage portfolio,
producing a stable return to Unitholders.

For further information:

For further information: Eli Dadouch, President & Chief Executive
Officer, (416) 635-0221,

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