NEW YORK--(BUSINESS WIRE)--May 15, 2006--In accordance with the
terms of the Company's 7.875% Series A Cumulative Redeemable Preferred
Stock ("Series A Preferred Stock"), the Board of Directors of Annaly
Mortgage Management (NYSE:NLY) has declared a Series A Preferred Stock
cash dividend for the second quarter of $0.492188 per share. This
dividend is payable on June 30, 2006 to Series A shareholders of
record as of June 1, 2006.
In accordance with the terms of the Company's 6% Series B
Cumulative Convertible Preferred Stock ("Series B Preferred Stock"),
the Board of Directors of Annaly Mortgage Management has declared for
the period from April 12, 2006 through June 30, 2006 a Series B
Preferred Stock cash dividend of $0.329167 per share of Series B
stock, payable on June 30, 2006 to Series B shareholders of record as
of June 1, 2006.
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").
This news release and our public documents to which we refer
contain or incorporate by reference certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements which are based on various assumptions (some of which are
beyond our control) may be identified by reference to a future period
or periods or by the use of forward-looking terminology, such as
"may," "will," "believe," "expect," "anticipate," "continue," or
similar terms or variations on those terms or the negative of those
terms. Actual results could differ materially from those set forth in
forward-looking statements due to a variety of factors, including, but
not limited to, changes in interest rates, changes in yield curve,
changes in prepayment rates, the availability of mortgage-backed
securities for purchase, the availability of financing and, if
available, the terms of any financing, changes in the market value of
our assets, changes in business conditions and the general economy,
FIDAC's clients' removal of assets FIDAC manages, FIDAC's regulatory
requirements, and competition in the investment management business,
changes in government regulations affecting our business, and our
ability to maintain our qualification as a REIT for federal income tax
purposes. For a discussion of the risks and uncertainties which could
cause actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" in our Annual Report on
Form 10-K for the fiscal year ended December 31, 2005 and any
subsequent Quarterly Reports on Form 10-Q. We do not undertake, and
specifically disclaim any obligation, to publicly release the result
of any revisions which may be made to any forward-looking statements
to reflect the occurrence of anticipated or unanticipated events or
circumstances after the date of such statements.
CONTACT: Annaly Mortgage Management, Inc.
Investor Relations:
1-888-8Annaly
www.annaly.com
SOURCE: Annaly Mortgage Management, Inc.