Exhibit 99.1

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


                      AIM 85 DECLARES MONTHLY DISTRIBUTION
                      FOR SEPTEMBER OF THREE CENTS PER UNIT


                Total for the Third Quarter is 13 Cents Per Unit
                          ---------------------------


     ROCKVILLE,  MD,  September  19, 2003 -- (AMEX/AII)  The general  partner of
American  Insured  Mortgage  Investors - Series 85, L.P. (AIM 85) today declared
the monthly  distribution  for  September  2003 in the amount of three cents per
unit regular cash flow.  Holders of record on September  30, 2003,  will receive
this  amount as part of the third  quarter  distribution  which  will be paid on
November 3, 2003.

     Record dates for the AIM 85  distributions  occur at the end of each month.
Distributions  are paid  approximately  one month after the end of each calendar
quarter and include the three  amounts  declared  during the quarter.  The total
distribution  of 13 cents per unit for the third quarter of 2003 includes  three
cents per unit regular cash flow for the months of July,  August and  September,
plus four cents per unit mortgage proceeds for the month of July.


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