Contact: Susan B. Railey
         (301) 468-3120
         Sharon Bramell                     FOR IMMEDIATE RELEASE
         (301) 231-0351


                     AIM 85 DECLARES MONTHLY DISTRIBUTION
                      FOR OCTOBER OF THREE CENTS PER UNIT


                          ---------------------------


     ROCKVILLE,  MD,  October 22,  2003 --  (AMEX/AII)  The  general  partner of
American  Insured  Mortgage  Investors - Series 85, L.P. (AIM 85) today declared
the monthly  distribution for October 2003 in the amount of three cents per unit
regular  cash flow.  Holders of record on October  31,  2003 will  receive  this
amount as part of the fourth quarter distribution which will be paid on February
2, 2004.

     Record dates for the AIM 85  distributions  occur at the end of each month.
Distributions  are paid  approximately  one month after the end of each calendar
quarter and include the three amounts declared during the quarter.


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