SAN FRANCISCO, CA--(MARKET WIRE)--Apr 25, 2008 -- Capital Alliance Income Trust Ltd.
("CAIT") (AMEX:
CAA -
News), a specialty lender organized as a
real estate
investment trust ("REIT"), announced that its Board of Directors
has set
Wednesday June 25, 2008 as the date for the annual meeting
of shareholders.
The meeting will be held at 10:00 a.m. in San Francisco,
California.
Shareholders of record as of May 5, 2008 will be entitled
to vote at the
meeting.
2008 Earnings Guidance
CAIT also reaffirmed that it has continued to maintain sufficient
liquidity
to address the turbulence in the credit markets, has continued
to reduce
borrowing under a $7,000,000 line of credit and expects
to return to
profitability for the twelve months ending December 31,
2008.
As of December 31, 2007, the Company reported a common share
book value of
$7.70 per share. As of April 25, 2008, the common shares
last traded at
$3.35. Earlier this month CAIT announced a stock repurchase
authorization,
covering up to 4.9% of the outstanding common shares. At
the current share
price, common share repurchases will be accretive to shareholder
value. No
shares have been acquired yet under the stock repurchase
authorization.
CAIT plans to file Form 10-Q for the three months ended
March 31, 2008, on
or before May 14, 2008 and expects to report net income
of approximately
$0.02 per share, basic and diluted.
About Capital Alliance Income Trust
CAIT is a specialty lender, organized as a REIT that has
invested in high
yielding, mortgage loans located primarily in California.
Until 2007, CAIT
was externally managed. Historically, only residential loans
with a
combined loan-to-value of 75% or less were originated for
CAIT's mortgage
investment portfolio. Due to the suspension of CAIT's mortgage
banking
business, unsold mortgages with a loan-to-value greater
than 75% were
transferred to CAIT and are currently part of CAIT's core
portfolio. CAIT
is actively examining strategic changes to its existing
business model and
investment policies to enhance shareholder value.
This document contains "forward-looking statements" (within
the meaning of
the Private Securities Litigation Reform Act of 1995) that
inherently
involve risks and uncertainties. CAIT's actual results,
operations and
liquidity may differ materially from those anticipated in
these
forward-looking statements because of changes in the level
and composition
of CAIT's investments and unseen factors. As discussed in
CAIT's filings
with the Securities and Exchange Commission, these factors
may include, but
are not limited to, changes in general economic conditions,
the
availability of suitable investments, fluctuations in and
market
expectations of fluctuations in interest rates and levels
of mortgage
payments, deterioration in credit quality and ratings, the
effectiveness of
risk management strategies, the impact of leverage, the
liquidity of
secondary markets and credit markets, increases in costs
and other general
competitive factors.