EXHIBIT 99.1



February 1, 2002


                              AMRESCO CAPITAL TRUST
                         ANNOUNCES DELISTING FROM NASDAQ


         DALLAS - AMRESCO Capital Trust (Nasdaq: AMCT) announced today that on
January 31, 2002 it received a Nasdaq Staff Determination letter stating that
the company had failed to comply with the annual shareholder meeting
requirements set forth in Marketplace Rules 4350(e) and 4350(g) and that its
securities will be delisted from The Nasdaq Stock Market at the opening of
business on February 8, 2002. The company believes that it meets the criteria to
have its securities available for immediate quotation on the OTC Bulletin Board.

         As previously communicated, the company is liquidating its assets under
a plan of liquidation and dissolution. Shareholders approved the liquidation and
dissolution of the company on September 26, 2000. To date, the company has
disposed of all of its assets other than one mortgage loan.

         This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements are based on management's
current expectations. Forward-looking statements are not guarantees of future
performance and involve certain risks and uncertainties that are difficult to
predict.