EXHIBIT 99


         Contact: Susan B. Railey
                  (301) 255-4740
                  Sharon Bramell                     FOR IMMEDIATE RELEASE
                  (301) 255-4742


                          AIM 85 DECLARES FIRST QUARTER
                       DISTRIBUTION OF TWO CENTS PER UNIT


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


     ROCKVILLE, MD, March 21, 2005 -- (AMEX/AII) The general partner of American
Insured  Mortgage  Investors  - Series  85,  L.P.  (AIM 85) today  declared  the
quarterly  distribution for the first quarter of 2005 in the amount of two cents
per unit regular cash flow. Holders of record on March 31, 2005 will receive two
cents per unit on May 2, 2005.

     AIM 85 declares  distributions  quarterly,  in March,  June,  September and
December,  to be paid  approximately  one month  after the end of each  calendar
quarter.




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