Origen Financial Announces Initial Public Offering and Common Stock Resale Registration Statement Effective SOUTHFIELD, Mich., May 6 /PRNewswire-FirstCall/ -- Origen Financial, Inc. (Origen) announced today its initial public offering of 8,000,000 shares of common stock at $8.00 per share, for a total offering of $64.0 million. Lehman Brothers is the managing underwriter of the offering, and Credit Suisse First Boston and Flagstone Securities are co-managers of the offering. Origen has granted an option to underwriters to purchase up to 1,200,000 shares of Origen's common stock to cover any over-allotments, at the public offering price. Origen's stock began trading today, May 6th, on the Nasdaq Stock Market under the symbol "ORGN". The offering is expected to close on May 11, 2004. A copy of the prospectus may be obtained at http://www.sec.gov/ or by contacting Lehman Brothers c/o ADP Financial Services Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel. 631-254-7106). Origen also announced today that the Securities and Exchange Commission declared effective its registration statement on Form S-11 relating to the resale of 16,000,000 shares of its common stock by selling stockholders. The shares were originally issued in private placements in October 2003 and in February 2004. Under the registration statement, the selling stockholders listed in the related prospectus are permitted, but are not obligated, to sell, subject to certain lock-up restrictions, some or all of their respective shares covered by the prospectus. Any such resales may occur from time to time through the Nasdaq National Market or otherwise. Origen will not receive any proceeds from the sale of such shares by the selling stockholders. A copy of the resale prospectus may be obtained from Origen Financial, Inc. at 27777 Franklin Road, Suite 1700, Southfield, Michigan 48034. Origen is an internally managed and internally advised company that has elected to be taxed as a real estate investment trust (REIT). Based in Southfield, Michigan, with significant operations in Ft. Worth, Texas, Origen is a national consumer manufactured home lender and servicer. It offers a complete line of home only products and land home conforming and non- conforming products. Origen also provides servicing for manufactured home only and land home loans. This press release contains forward-looking statements within the meaning of the federal securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Origen's control and could materially affect actual results, performance or achievements. Registration statements relating to Origen's securities have been filed with and declared effective by the Securities and Exchange Commission. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy Origen's securities. For more information about Origen, visit origenfinancial.com . DATASOURCE: Origen Financial, Inc. CONTACT: David Rand or W. Anderson Geater of Origen Financial, Inc., +1-866-4-ORIGEN Web site: http://www.origenfinancial.com/

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