FOR IMMEDIATE RELEASE
December 20, 2007
CONTACT: Chad Daffer or Andy Grier
AMERICA FIRST TAX EXEMPT INVESTORS L.P.
ANNOUNCES SHARE PURCHASE PLAN
Omaha, NE- December 20, 2007- America First Tax Exempt Investors, L.P. (NASDAQ:
ATAXZ) (“America First” or the “Company”), announced today that The Burlington Capital
Group, LLC (“Burlington”) has adopted a prearranged trading plan (the “Plan”) with RBC Dain
Rauscher (“RBC”) under which RBC will acquire Beneficial Unit Certificates (“BUCs”)
representing assigned limited partnership interests in America First in open market purchases
made from time to time for the account of Burlington beginning January 1, 2008. Burlington
may acquire up to $2,000,000 of BUCs under the Plan. Burlington is the general partner of the
general partner of America First. Due to their control of Burlington, BUCs acquired by
Burlington are also considered to be beneficially owned by Burlington’s Chairman, Michael
Yanney and his wife Gail Walling Yanney, and its Chief Executive Officer, Lisa Roskens. As a
result, the Plan was established in accordance with the guidelines specified by Rule 10b5-1 under
the Securities Exchange Act of 1934, as well as America First’s policies with respect to trading
BUCs held by directors and officers of Burlington. Under the terms of the Plan, neither
Burlington nor any of its officers or directors, including Mr. and Mrs. Yanney and Ms. Roskens,
will have discretion or control over the timing or effectuation of the purchases of BUCs.
Appropriate filings will be made with the Securities and Exchange Commission to report
purchases under the Plan.
Rule 10b5-1 allows an insider of a public company to adopt written, prearranged plans
under which a third party may buy or sell the stock of the company on the insider’s behalf as
long as the insider did not possess material, non-public information about the company when the
plan was adopted.