Contact: Susan B. Railey                    FOR IMMEDIATE RELEASE
         (301) 468-3120
         Sharon Bramell
         (301) 213-0351


                AIM 84 DECLARES FOURTH QUARTER 2003 DISTRIBUTION
                              OF 3.5 CENTS PER UNIT

               Includes Special Distribution of 1.5 Cents Per Unit


                            ------------------------


     ROCKVILLE,  MD,  December  19, 2003- -  (AMEX/AIA)  The general  partner of
American Insured  Mortgage  Investors (AIM 84) today declared a distribution for
the  quarter  ended  December  2003 in the  amount of 3.5  cents  per unit.  The
distribution  will be paid on  February 2, 2004 to holders of record on December
31, 2003.

The fourth quarter distribution of 3.5 cents per unit includes the following:

o        2 cents per unit regular cash flow; and

o        1.5 cents per unit representing the remaining amount of assignment
         proceeds due from the defaulted mortgage on Westbrook Apartments.


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