America First Tax Exempt Investors L.P. Announces New Quarterly Supplemental Financial Report Posted to Website

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OMAHA, Neb., May 14, 2013 (GLOBE NEWSWIRE) -- America First Tax Exempt Investors, L.P. (Nasdaq:ATAX) (the "Partnership") announced today a new supplemental financial report has been posted on its website summarizing its financial results for the first quarter of 2013. Going forward, this supplemental financial report will be posted on the Partnership's website just subsequent to the filing of the quarterly and annual consolidated financial statements with the Securities and Exchange Commission ("SEC"). "We believe providing supplemental financial information on a quarterly basis is important for our investors", stated Chad Daffer, Fund Manager. The quarterly supplemental financial report is accessible through the Investor Update section of ATAX's website located on the World Wide Web at www.ataxfund.com.

The quarterly supplemental financial information presented on our website serves two primary purposes which align to how management monitors the performance of the business. Management utilizes a calculation called cash available for distribution ("CAD"), a non-GAAP measure, to determine the Partnership's ability to make distributions to unitholders. This supplemental report will highlight changes to CAD in the most recent quarter and overall trends in CAD performance. The supplemental financial information also reflects the results of the Partnership without consolidation of entities that own certain of the multi-family properties financed with tax-exempt mortgage revenue bonds held by the Partnership. While these entities are reported by ATAX as consolidated variable interest entities ("VIEs") under generally accepted accounting principles in its quarterly and annual financial reporting filed with the SEC, the Partnership does not actually hold an ownership interest in these VIEs. Since consolidation of these VIEs results in the elimination of the Partnership's tax-exempt bonds on these properties for financial reporting purposes, management believe this supplemental financial information is helpful to understand the Partnership's results of operations from its principal operating segments of tax-exempt mortgage revenue bonds, other tax-exempt investments and owned MF Properties.

The Partnership's financial position and results of operation as of, and for the quarter ended March 31, 2013 that are prepared in accordance with generally accepted accounting principles are reported in its report on Form 10-Q filed by it with the SEC on May 10, 2013. The Form 10-Q and supplemental financial information also include a reconciliation of Partnership net income to CAD for all quarters presented.

About America First Tax Exempt Investors, L.P.

America First Tax Exempt Investors, L.P. was formed for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of federally tax-exempt mortgage revenue bonds which have been issued to provide construction and/or permanent financing of multifamily residential apartments. The Company is pursuing a business strategy of acquiring additional tax-exempt mortgage revenue bonds on a leveraged basis in order to: (i) increase the amount of tax-exempt interest available for distribution to its investors; (ii) reduce risk through asset diversification and interest rate hedging; and (iii) achieve economies of scale. The Company seeks to achieve its investment growth strategy by investing in additional tax-exempt mortgage revenue bonds and other tax-exempt investments, taking advantage of attractive financing structures available in the tax-exempt securities market and entering into interest rate risk management instruments. America First Tax Exempt Investors, L.P. press releases are available on the World Wide Web at www.ataxfund.com.

Safe Harbor Statement

Information contained in this press release contains "forward-looking statements," including statements related to the offering and the expected use of the net proceeds, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, risks involving current maturities of our financing arrangements and our ability to renew or refinance such maturities, fluctuations in short-term interest rates, collateral valuations, bond investment valuations and the overall negative economic and credit market conditions. For a further list and description of such risks, see the reports and other filings made by the Company with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2012. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Chad Daffer or Andy Grier 800/283-2357

Source:America First Tax Exempt Investors, L.P.