X0202 4 2005-02-24 0001003201 MUNICIPAL MORTGAGE & EQUITY LLC MMA 0001223918 BROWN EDDIE C 1201 NORTH CALVERT BALTIMORE MD 21202 1 0 0 0 Common Shares 2005-02-24 4 A 0 39.246 25.48 A 3066.38 D Common Shares 2005-02-25 4 A 0 39.216 25.50 A 3105.596 D Common Shares 2005-02-26 4 A 0 39.216 25.50 A 3144.812 D Shares awarded in accordance with the 2001 Non-Employee Directors' Share Plan. Janet E. McHugh is signing as Attorney-in-Fact. Janet E. McHugh 2005-02-28