Exhibit 99 ----------------------------------------- P R E S S R E L E A S E ----------------------------------------- DATE: February 21, 2000 ----------------------------------------- [GRAPHIC OMITTED] CONTACT: Leigh J. Abrams, President & CEO FOR...Exhibit 99 • March 7th, 2001 • LBP Inc • Fabricated structural metal products
White Plains, New York - February 21, 2001 - LBP, Inc. (OTC Bulletin Board: LBPI) today announced that it sold an aggregate of $15 million of its $20 million investment in the 10.5% Cumulative Convertible Preferred Stock (the "Preferred Stock") of Impac Mortgage Holdings ("IMH"). The investment was sold at cost, plus accrued interest through the date of sale. Since the acquisition of $20 million of the Preferred Stock in December 1998, the Company received an aggregate of $4.3 million in quarterly cash dividends, fulfilling the Company's intention to enhance stockholder value.
