NEW YORK--(BUSINESS WIRE)--May 27, 2004--Annaly Mortgage
Management, Inc.
(NYSE: NLY) announced the election of E. Wayne
Nordberg as a Class II Director to the Company's Board of Directors at
the Company's annual meeting of shareholders.
Since June 2002, Mr. Nordberg has been a senior director at
Ingalls & Snyder LLC and, since 2000, president of the office of
investments for the LaFayette College Endowment Fund. From October
1998 to May 2002, Mr. Nordberg was Vice Chairman of KBW Asset
Management, Inc. Prior to joining KBW Asset Management, Inc., Mr.
Nordberg served in various capacities with Lord, Abbett & Co.
, from
1988 to 1998 where in 1996 he was named Partner--Equity Investments,
and a director of all 30 Lord Abbett mutual funds. Mr. Nordberg sits
on the board of directors of PetroQuest Energy, Inc.
serving as
Chairman of its compensation committee. Mr. Nordberg graduated from
Lafayette College.
"On behalf of all Annaly employees and shareholders, I welcome
Wayne Nordberg to our board of directors and thank him for making this
commitment," said Michael A.J. Farrell, Annaly's chairman, chief
executive officer and president. "With his experience and success in
the asset management business, both as a manager and as an investor,
Wayne will be a valuable addition to our efforts to grow our company."
In addition, Kevin P. Brady and Donnell A. Segalas were re-elected
as Class II Directors at the annual meeting.
The Company is a Maryland corporation which owns and manages a
portfolio of mortgage-backed securities. The Company's principal
business objective is to generate net income for distribution to
stockholders from the spread between the interest income on its
investment securities and the cost of borrowing to finance their
acquisition. The Company 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, and FIDAC's clients removal of
assets FIDAC manages, FIDAC's regulatory requirements, and competition
in the investment management business. 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, 2003. 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, 888-8Annaly
www.annaly.com
SOURCE: Annaly Mortgage Management, Inc.