8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: (Date of Earliest Event Reported):
April 5, 2004 (April 1, 2004)

CRIIMI MAE INC.
(Exact name of registrant as specified in its charter)
Maryland	1-10360	52-1622022
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
11200 Rockville Pike
Rockville, Maryland  20852
(Address of principal executive offices, including zip code, of Registrant)
(301) 816-2300
(Registrant’s telephone number, including area code)

Item 5.  Other Events and Required FD Disclosure.

On April 1, 2004, the Company issued a press release reporting the declaration of cash dividends for the second quarter of 2004 on the Company’s Series B Cumulative Convertible Preferred Stock.  A copy of this press release is incorporated by reference herein and is attached hereto as Exhibit 99.1.

Item 7.  Financial Statements and Exhibits.

(c) Exhibits. The following exhibits are filed with this report:

Exhibit 99.1 - Press Release issued by CRIIMI MAE Inc. on April 1, 2004.

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SIGNATURE

Pursuant to the  requirements  of the Securities  Exchange Act of 1934, as amended, the Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the undersigned hereunto duly authorized.

	CRIIMI MAE Inc.
Dated: April 5, 2004	/s/ Mark Libera
	Mark Libera
	Vice President and
	Acting General Counsel

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EXHIBIT INDEX

Exhibit No.	Description
* 99.1	Press Release dated April 1, 2004.

*Filed herewith.

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EX-99.1

Exhibit 99.1

Susan B. Railey
For shareholders and securities brokers
(301) 468-3120
James T. Pastore
For news media
(202) 546-6451	FOR IMMEDIATE RELEASE

CRIIMI MAE Declares Series B Preferred Dividend Payment for 2nd Quarter 2004

ROCKVILLE, MD, April 1, 2004 – CRIIMI MAE Inc. (NYSE:CMM) today announced that the Board of Directors has declared the payment on June 30, 2004 of the dividend for the second quarter of 2004 on its Series B Preferred Stock.  Holders of record of Series B Preferred Stock on June 17, 2004 will receive $0.68 per Series B share.

The Company is declaring the second quarter dividend on its Series B Preferred Stock at this time, prior to the redemption of the Company’s Series F and Series G Preferred Stocks on April 28, 2004, as required by its Articles of Amendment and Restatement.

For further information, shareholders and securities brokers should contact CRIIMI MAE Inc at (301) 816-2300, e-mail shareholder@criimimaeinc.com, and news media should contact James Pastore, Pastore Communications Group LLC, at (202) 546-6451, e-mail pastore@ix.netcom.com

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