NEW YORK--(BUSINESS WIRE)--May 19, 2005--Annaly Mortgage
Management, Inc.
(NYSE: NLY) is pleased to announce that its Chairman,
CEO and President, Michael A.J. Farrell, had the honor of ringing the
opening bell on the Toronto Stock Exchange today to celebrate the
launch of the third trust that it manages in Canada. Annaly's
wholly-owned subsidiary, FIDAC, is the investment manager for three
trusts currently traded on the Toronto Stock Exchange. The first two
trusts are Mortgage-Backed Securities Trust
(TSX: MF.UN and MF.U),
launched in April 2003 and MBS Adjustable-Rate Income Fund
(TSX:
MTF.UN), launched in November 2004. The third trust is Sentry Select
MBS Adjustable Rate Income Fund II
(TSX: MGS.UN), launched in April
2005.
Ronald Kazel, Executive Vice President commented on FIDAC's
continued growth in the Canadian market. "Ringing the bell at the
Toronto Stock Exchange this morning marks the continuation of our
effort to expand our global presence. We have grown the asset
management business substantially in recent months, both domestically
and globally. Our strategy of providing high current income, relative
to the current investment climate, with low credit risk, has proved to
be very attractive to investors."
The manager of the trusts in Canada is Sentry Select Capital Corp.
Sentry Select is an investment manager with total gross assets under
management of approximately C$7.0 billion.
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. At March 31,
2005, Annaly and FIDAC had gross assets under management of
approximately $38 billion. 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 the Company receives from FIDAC, which earns investment
advisory fee income. The Company, a Maryland corporation, 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, 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, 2004. 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.