ANNALY CAPITAL MANAGEMENT INC

Annaly Capital Management, Inc. is a diversified capital manager with investment strategies focused on residential mortgage finance. The company's main goal is to generate net income for its stockholders and maximize returns through careful management of its varied investment strategies. Founded in 1997, Annaly is an internally-managed Maryland corporation that has chosen to be taxed as a real estate investment trust ("REIT"). Its common stock trades on the New York Stock Exchange under the symbol "NLY." Annaly uses its own capital along with borrowed funds to primarily invest in real estate related investments. The company earns income from the difference between the yield on its assets and the cost of its borrowings and hedging activities. Annaly believes its business objectives are supported by its size and conservative financial position compared to the industry, the extensive experience of its employees, the diversity of its investment strategy, a comprehensive risk management approach, the availability and diversification of financing sources, and its operational efficiencies.