EXHIBIT 99



         Contact: Susan B. Railey           FOR IMMEDIATE RELEASE
                  (301) 468-3120
                  Sharon Bramell
                  (301) 468-3161



                AIM 85 Hires Ernst & Young as Independent Auditor

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     ROCKVILLE, MD, June 5, 2002- - (AMEX/AII) CRIIMI, Inc., the General Partner
of  American  Insured  Mortgage  Investors  - Series 85,  L.P.  (AIM 85),  today
announced  today  announced  that it has  hired  Ernst & Young  LLP to audit the
Partnership's financial statements for the year ending December 31, 2002.

     "We are pleased to  announce  our  engagement  of Ernst & Young as AIM 85's
auditors for the year 2002. We anticipate a smooth transition of duties to Ernst
& Young,  effective  immediately,"  said  Chief  Financial  Officer,  Cynthia O.
Azzara.

     The General  Partner also announced that Alan M. Jacobs,  a retired partner
of Ernst & Young,  resigned  last week from the Board of Directors of CRIIMI MAE
Inc., the sole shareholder of the General Partner, in order to allow the General
Partner to hire Ernst & Young as AIM 85's auditors.

     For further information on AIM 85, see the Partnership's Web site:
http://www.americaninsuredmortgage.com
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