Simultaneously, Walter Horn, who has served as General Counsel to Arbor Commercial Mortgage since its inception in 1996 and General Counsel and Secretary for Arbor Realty Trust, Inc. (NYSE:ABR) since November 2003, will also assume the title of Director of Compliance for Arbor Realty Trust. Mr. Horn is also on the Company's board of directors.

Both men are Garden City residents.

"Walter and Guy are both proven and integral parts of our senior management team," said Ivan Kaufman, Chairman and CEO of Arbor Commercial Mortgage and President and CEO of Arbor Realty Trust. "In their new roles, their legal expertise has and will continue to provide Arbor Commercial Mortgage and Arbor Realty Trust with the consummate level of counsel necessary to grow our dynamic businesses."

Mr. Milone has more than 14 years experience as a practicing real estate attorney and in-house counsel. Prior to joining Arbor, he was with the law firm of Ballard Spahr Andrews & Ingersoll, LLP, and was Senior Real Estate Counsel with the national tax credit syndication firm of Sterling Financial Group based in Manhasset, NY.

Mr. Horn has more than 30 years of legal experience. He served as General Counsel with Arbor National Holdings from 1991 until its sale in 1995. He assumed the role of General Counsel at Arbor Commercial Mortgage when the company was formed in 1996. Mr. Horn's experience also includes serving as General Counsel with Resource One, Inc. and Long Island Trust Company.

Mr. Horn and Mr. Milone will remain in the Arbor's Uniondale headquarters.