X0303 4 2008-05-19 0001003201 MUNICIPAL MORTGAGE & EQUITY LLC MMAB 0001223918 BROWN EDDIE C 621 E PRATT STREET SUITE 300 BALTIMORE MD 21202 1 Common 2008-05-19 4 A 0 94.34 7.95 A 20123.9969 D Common 2008-11-07 4 A 0 11948.529 0.68 A 41874.5939 D Common 2008-11-07 4 A 0 1500 0.5 A 43374.5939 D Common 2008-11-07 4 A 0 1442.308 0.52 A 44816.9019 D Common 2008-11-07 4 A 0 1271.186 0.59 A 46088.0879 D Common 2008-11-07 4 A 0 1250 0.6 A 47338.0879 D Common 2008-11-07 4 A 0 1250 0.6 A 48588.0879 D Common 2008-11-07 4 A 0 1136.364 0.44 A 49724.4519 D Common 2008-11-07 4 A 0 1071.429 0.7 A 50795.8809 D Common 2008-11-07 4 A 0 1041.667 0.48 A 51837.5479 D Common 2008-11-07 4 A 0 990.099 0.51 A 52827.6469 D Common 2008-11-07 4 A 0 909.091 0.55 A 53736.7379 D Common 2008-11-07 4 A 0 892.857 0.56 A 54629.5949 D Common 2008-11-07 4 A 0 793.651 0.63 A 55423.2459 D Common 2008-11-07 4 A 0 735.294 0.68 A 56158.5399 D Common 2008-11-07 4 A 0 663.717 1.13 A 56822.2569 D Common 2008-11-07 4 A 0 457.317 1.64 A 57279.5739 D Common 2008-11-07 4 A 0 384.615 1.3 A 57664.1889 D Common 2008-11-07 4 A 0 331.126 1.51 A 57995.3149 D This amount represents a grant of deferred shares in lieu of meeting fees for a meeting held on February 29, 2008. This meeting was inadvertently omitted from previously filed Form 4s. This amount represents grants of deferred shares in lieu of quarterly board and/or committee retainer(s), pursuant to the company's Non-Employee Directors' Share Plan. The number of shares is based on the retainers divided by the closing share price on September 30, 2008. This amount represents grants of deferred shares in lieu of meeting fees for board and/or committee meetings pursuant to the company's Non-Employee Directors' Share Plan. The number of shares is based on the meeting fees divided by the closing share price on the day of the respective meeting. Stephen A. Goldberg, Attorney-in-Fact 2008-11-11