CIM Commercial Trust Announces 2014 Dividend Allocation

DALLAS--(BUSINESS WIRE)--

CIM Commercial Trust Corporation CMCT, a real estate investment trust (REIT) that principally acquires, owns, and operates stabilized Class A and creative office properties in vibrant and improving urban communities throughout the U.S., announced the characterization of dividends declared during 2014 for income tax reporting purposes. Dividends declared during 2014 are delineated as follows:

														Dividend								Non-				Non-Taxable
						Record				Paid				Per				Qualified				Qualified				Return of
Type						Dates				Dates				Share				Dividend				Dividend				Capital
Regular		(1)				3/10/2014				3/25/2014				$0.47500				$0.00000				$0.03721				$0.43779
Special		(1)				3/10/2014				3/25/2014				$27.50000				$0.00000				$2.15431				$25.34569
Regular		(1)				3/24/2014				3/28/2014				$0.05000				$0.00000				$0.00392				$0.04608
Regular						6/23/2014				6/27/2014				$0.21875				$0.01942				$0.01714				$0.18219
Regular						9/23/2014				9/29/2014				$0.21875				$0.00000				$0.01714				$0.20161
Regular						12/22/2014				12/29/2014				$0.21875				$0.00000				$0.01714				$0.20161
														$28.68125				$0.01942				$2.24686				$26.41497
(1) Adjusted for reverse split as described below.

Please note that effective April 29, 2014, PMC Commercial Trust changed its name to CIM Commercial Trust Corporation and also changed its NASDAQ ticker symbol from "PMCT" (CUSIP: 693434102) to "CMCT" (CUSIP: 125525105). At the same time, CIM Commercial Trust Corporation conducted a one-for-five reverse split of its common stock in which each holder of CIM Commercial Trust common stock received one share of common stock for every five shares owned as of April 29, 2014, the effective date of the reverse stock split. The amounts reported above as distributions paid prior to April 29, 2014 (under CUSIP: 693434102) have been adjusted to reflect the reverse stock split.

Shareholders should consult their own tax advisor as to the tax treatment of their dividends.

ABOUT CIM COMMERCIAL TRUST CORPORATION

CIM Commercial Trust Corporation is a real estate investment trust (REIT) that principally acquires, owns, and operates stabilized Class A and creative office properties located in vibrant and improving urban communities throughout the U.S. Properties are primarily located in Los Angeles, the San Francisco Bay Area, Sacramento, and Washington, D.C. CIM Group, the manager of CIM Commercial Trust, is comprised of a seasoned team of real estate investment professionals with extensive expertise in acquisitions, investments, development, finance, leasing, asset management, as well as in-house research capabilities. In addition, CIM Commercial Trust continues to deploy a portion of its capital to its real estate lending platform through its wholly owned subsidiary (d/b/a PMC Commercial Trust) that originates and services loans under the U.S. Small Business Administration 7(a) Guaranteed Loan Program as well as through other lending programs. www.cimcommercial.com

FORWARD-LOOKING STATEMENTS

The information set forth herein contains "forward-looking statements." You can identify these statements by the fact that they do not relate strictly to historical or current facts or discuss the business and affairs of CIM Commercial Trust Corporation on a prospective basis. Further, statements that include words such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," "continue" "pursue," or "should" or the negative or other words or expressions of similar meaning, may identify forward-looking statements.

CIM Commercial Trust bases these forward-looking statements on particular assumptions that it has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. The forward-looking statements are necessarily estimates reflecting the judgment of CIM Commercial Trust and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors, including those set forth in the definitive proxy statement / prospectus of PMC Commercial Trust dated December 30, 2013 under the heading "Risk Factors", the supplement to proxy statement/prospectus of PMC Commercial Trust dated January 31, 2014 under the heading "Update to Risk Factors" and other risks detailed in PMC Commercial Trust's filings with the SEC, including but not limited to PMC Commercial Trust's Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

As you read and consider the information herein, you are cautioned to not place undue reliance on these forward-looking statements. These statements are not guarantees of performance or results and speak only as of the date hereof. These forward-looking statements involve risks, uncertainties and assumptions. In light of these risks and uncertainties, there can be no assurance that the results and events contemplated by the forward-looking statements contained herein will in fact transpire. New factors emerge from time to time, and it is not possible for CIM Commercial Trust to predict all of them. Nor can CIM Commercial Trust assess the impact of each such factor or the extent to which any factor, or combination of factors may cause results to differ materially from those contained in any forward-looking statement. CIM Commercial Trust undertakes no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.