Redwood Trust, Inc. Announces Third Quarter 1999 Preferred Dividends

Business Wire, August 9, 1999

MILL VALLEY, Calif.--(BUSINESS WIRE)--Aug. 9, 1999--

In accordance with the terms of Redwood Trust, Inc.'s (NYSE:RWT) Class B Preferred Stock, the Board of Directors declared a third quarter 1999 preferred stock dividend of $0.755 per share. This dividend is payable on October 21, 1999 to preferred shareholders of record as of September 30, 1999.

The Common Stock dividend declaration and announcement date for the third quarter of 1999 is expected to coincide with the date the Company releases its operating results for the respective quarter, on or before October 28, 1999. The record and payable dates will be announced at the time the dividend is declared.

Redwood Trust, together with its affiliates, is a finance company specializing in mortgage assets. Its primary activity is the financing of high quality residential mortgage loans with funds raised through long-term debt issuance. The Company also finances commercial mortgage loans and residential mortgage securities. Through its affiliate operations, the Company is developing its ability to create mortgage assets of significant value for its own portfolio and for sale to institutional mortgage investors.

Currently the Company has outstanding 9,829,717 shares of common stock (New York Stock Exchange, Symbol "RWT") and 909,518 shares of Class B Cumulative Convertible Preferred Stock (Symbol "RWT-PB"). For more information about the Company, please visit the Company's Web site on the Internet at http://www.redwoodtrust.com.