NEW YORK--(BUSINESS WIRE)--March 27, 2006--Annaly Mortgage
Management, Inc. (NYSE: NLY) today announced that Gary Gordon,
formerly chief US market strategist for UBS, has joined the Company as
an Executive Vice President. Mr. Gordon will focus on investment
product development within FIDAC, Annaly's wholly-owned registered
investment advisor, and economic and market research.
Michael A.J. Farrell, Chairman, CEO and President of Annaly,
commented on the new position. "Gary Gordon is one of the most
experienced and respected strategists in the financial markets, and he
will be a welcome addition to our investing and research team. His
investment strategy emphasis in the financial services sector
complements our existing skill set. I look forward to working with
Gary as we continue to explore ways to grow our product offerings
within FIDAC."
In his over 20 years on Wall Street, Mr. Gordon covered the
financial services, housing and consumer finance industries. As an
equity research analyst, he specifically followed savings banks,
mortgage and credit card lenders, finance companies, homebuilders and
REITs. He also served for several years as UBS' chief US market
strategist and most recently was the research director at a hedge
fund. He was frequently named to the Institutional Investor and Wall
Street Journal All-Star lists. Mr. Gordon earned a BA from Colgate
University and an MBA from The Wharton School with a degree in
finance.
"With the addition of FIDAC, Mike Farrell and his team have built
a platform for growing Annaly into a formidable asset management
company," said Mr. Gordon. "I am excited to be a part of it and hope
to be able to contribute to its continuing growth."
Annaly manages assets on behalf of institutional and individual
investors worldwide through Annaly and through the funds managed by
its wholly-owned registered investment advisor, FIDAC. The Company's
principal business objective is to generate net income for
distribution to investors from the spread between the interest income
on its mortgage-backed securities and the cost of borrowing to finance
their acquisition and from dividends Annaly receives from FIDAC, which
earns investment advisory fee income. The Company is a Maryland
corporation that has elected to be taxed as a real estate investment
trust ("REIT").
CONTACT: Annaly Mortgage Management, Inc.
Investor Relations, 1-888-8Annaly
www.annaly.com
SOURCE: Annaly Mortgage Management, Inc.