NEW YORK March 4, 2002 (BUSINESS WIRE)Annaly Mortgage Management, Inc. (NLY-NYSE) and its sister company FIDAC (Fixed Income Discount Advisory Company), today announced that Jay Diamond, formerly the president and publisher of Grant's Interest Rate Observer, will join the group as an Executive Vice President of credit research and analysis.
Mike Farrell, Chairman, CEO and COO, commented on the new position. "We are delighted to welcome Jay to the organization. Anyone familiar with his work over the past ten years can readily identify with the quality, intelligence and diligence that he brings to the investment process. As we have signaled to the markets in the past, while NLY will continue to focus solely on AAA assets, Jay's presence represents the first formative step in the creation of a separately capitalized, segmented strategy to explore other opportunities in the credit markets. As the plans are completed on the subsidiary development during the coming year, Jay will play a key role in the formation and operations of this new company."
"I'm looking forward to joining the team at Annaly," said Diamond. The Company has created tremendous value for its shareholders and is perfectly positioned to continue to do so in other segments of the fixed income markets."
CONTACT: Annaly Mortgage Management, Inc., New York
Kathryn F. Fagan
212/696-0100 or (888) 8Annaly
www.annaly.com