AFL-CIO Housing Investment Trust Names Thomas J. O'Malley to Lead New Veterans Housing Initiative

AFL-CIO Housing Investment Trust Names Thomas J. O'Malley to Lead New Veterans
Housing Initiative

WASHINGTON, Oct. 29 /PRNewswire-USNewswire/ -- The AFL-CIO Housing Investment
Trust (HIT) has asked housing expert and Vietnam veteran Thomas J. O'Malley to
serve as the Director of its Veterans Housing Initiative. In this capacity,
Mr. O'Malley will lead a new initiative to expand housing opportunities for
America's veterans, including the estimated 131,000 veterans who are homeless
on any given night and the 300,000 who have been homeless during this year.

(Photo: http://www.newscom.com/cgi-bin/prnh/20091029/DC01614 )

"It is shameful that several hundred thousand men and women who risked their
lives to preserve our liberty and way of live are now abandoned on the streets
of America's communities," said HIT Chief Executive Officer Stephen Coyle in
announcing the move. "Our nation cannot let these veterans down."

Mr. O'Malley, a veteran of the Vietnam War, will head the HIT's efforts to
finance the development of affordable multifamily housing serving former
members of the military. Mr. O'Malley will also work with veterans' service
organizations to assess the housing programs currently available to veterans
and recommend ways to make these programs more effective.

"As a socially responsible investor, the HIT has a long record of financing
the development of high quality affordable housing," said Mr. O'Malley.
"Several of the projects in the HIT's current investment pipeline will offer
affordable housing for veterans. We intend to make use of the HIT's housing
expertise to substantially increase these important investments."

Mr. O'Malley added, "As a union member who grew up in a union household, I
look forward to working with the AFL-CIO's new Union Veterans Council."

Mr. O'Malley brings to his new position significant experience in housing
finance. Since 2006, he has served as Director of the Gulf Coast office of
the AFL-CIO Investment Trust Corporation, where he has provided technical
support to redevelopment efforts in the region following Hurricane Katrina.
He previously had a 15-year career at the Boston Redevelopment Authority,
where he was most recently Director of Finance and prior to that Director for
Housing and Community Development.

Earlier, Mr. O'Malley worked for Urban Edge Housing Corporation, one of
Boston's largest non-profit housing development entities. In these positions,
Mr. O'Malley has gained a broad background in finance and housing, which
should enhance the HIT's efforts to source affordable housing for veterans.
As a disabled veteran and cancer survivor, Mr. O'Malley has particular
interest in the medical services that veterans receive. His disability is a
result of his exposure to Agent Orange while serving in Vietnam.

"We're pleased to have someone with Tom's vast experience become our housing
czar for our nation's veterans," Mr. Coyle said. "I'm confident that he will
make a difference in the lives of the men and women who have fought for our
nation."

Approximately 2.1 million union members, or 14% of the union workforce, are
veterans of military service.

The AFL-CIO Housing Investment Trust is a core-plus, fixed-income investment
company registered with the Securities and Exchange Commission. The HIT has
over $3.6 billion in assets under management for 350 investors, including
Taft-Hartley and public employee retirement plans. The HIT invests primarily
in high credit quality fixed-income investments such as multifamily and single
family mortgage-backed securities. The HIT has never invested in securities
backed by subprime mortgages. The investment objective of the HIT is to
provide competitive returns for its investors and to promote collateral
objectives such as the construction of housing and the generation of
employment for union members in construction and related industries. Since
its inception, the HIT has invested over $5 billion to finance more than
86,000 units of housing nationwide, generating 60,000 union jobs.

Contact:
Michael K. Frisby
202-625-4328

SOURCE AFL-CIO Housing Investment Trust

Michael K. Frisby, +1-202-625-4328, for the AFL-CIO Housing Investment Trust