EXHIBIT 99.1

         Contact: Susan B. Railey
                  (301) 468-3120
                  Sharon Bramell                     FOR IMMEDIATE RELEASE
                  (301) 231-0351


        AIM 84 DECLARES FINAL LIQUIDATING DISTRIBUTION OF $1.60 PER UNIT

     AIM 84 to Close Stock Transfer Books on February 24, 2004 and Terminate
                           -----------------

     ROCKVILLE, MD, February 13, 2004 -- (AMEX/AIA) The general partner of
American Insured Mortgage Investors (AIM 84) today declared the final
liquidating distribution to unitholders in the amount of $1.60 per unit
resulting in termination of the Partnership.

     AIM 84 will close its stock transfer books at close of business on February
24, 2004. Unitholders on such date will be required to surrender their
certificate(s) representing depositary units of limited partnership interest to
Registrar and Transfer Company, the Partnership's transfer agent, pursuant to a
Letter of Transmittal to be mailed to unitholders on or about February 24, 2004,
in order to receive the final liquidating distribution of $1.60 per unit.
Certain unitholders that do not hold a certificate because their units are held
in book entry form will not be required to execute a Letter of Transmittal in
order to receive the final liquidating distribution of $1.60 per unit. The
American Stock Exchange will suspend trading of AIM 84 units as of the close of
business on February 24, 2004.

     The final liquidating distribution represents the unitholder's pro rata
share of the aggregate proceeds from the disposition of the Partnership's assets
less amounts required for payment of, or provision for, the Partnership's
remaining expenses and distributions to the General Partner, as more fully set
forth in the Partnership Agreement.

 Note: Forward-looking statements or statements that contain the words
"believe", "anticipate", "expect", "may" or similar expressions and projections
contained in this release involve a variety of risks and uncertainties. These
risks and uncertainties include the risks and uncertainties set forth in the
Partnership's SEC reports, including its Annual Report on Form 10-K for the year
ended December 31, 2002 and its Quarterly Report on Form 10-Q for the quarter
ended September 30, 2003. Such statements are subject to these risks and
uncertainties, which could cause actual results to differ materially from those
projected. The general partner of American Insured Mortgage Investors and the
Partnership assume no obligation to update or supplement forward-looking
statements that become untrue because of subsequent events.

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