Annaly Capital Management, Inc. Announces Management Promotions

Business Wire, June 24, 2009

NEW YORK -- Annaly Capital Management, Inc. (NYSE: NLY) today announced the following management promotions: Eric Szabo has been named Managing Director and Chief Risk Officer, and Matthew J. Lambiase and Kevin Riordan have been named Managing Directors. As Chief Risk Officer, Mr. Szabo will have overall responsibility for risk management for the Annaly family of companies. Previously, Mr. Szabo had been Investment Strategist for the Company. Mr. Lambiase serves as Chief Executive Officer and President of Chimera Investment Corp., which is managed by Annaly’s registered investment advisor subsidiary, FIDAC. Previously, Mr. Lambiase had been Executive Vice President, Head of Structured Products. Mr. Riordan leads the commercial real estate efforts for FIDAC. Previously, Mr. Riordan had been a Director at FIDAC. Messrs. Szabo, Lambiase and Riordan will continue to report to Wellington Denahan-Norris, Annaly’s Vice Chairman, Chief Investment Officer and Chief Operating Officer.

Michael A.J. Farrell, Chairman, CEO and President of Annaly, commented on the new positions. “As Annaly continues to grow, it is critical for us to maintain a strong organizational platform to support our development. These promotions reflect the breadth of our management team, and they formalize roles that Eric, Matt and Kevin currently play in our Company. I join the rest of the Annaly shareholders in thanking them for their service and dedication.”

Mr. Szabo joined Annaly and FIDAC in April 2004, and serves on the Company’s Executive Committee and Investment Committee. Prior to that, he worked for Times Square Capital Management as a Mortgage Analyst and Trader since 2001. Mr. Szabo has a bachelor’s degree in finance from The College of New Jersey and a master’s degree in finance from Boston College. Mr. Szabo is a PRMIA certified Professional Risk Manager and a CFA charterholder.

Mr. Lambiase joined Annaly and FIDAC in June 2004, and serves on the Company’s Executive Committee and Investment Committee. Before joining Annaly and FIDAC, he was a Director in Fixed Income Sales at Nomura Securities International, Inc. Over his 11-year employment at Nomura, Mr. Lambiase was responsible for the distribution of commercial and residential mortgage-backed securities to a wide variety of institutional investors. Mr. Lambiase also held positions at Bear, Stearns & Company as Vice President in Institutional Fixed Income Sales and as a mortgage analyst in the Financial Analytics and Structured Transaction Group. Mr. Lambiase has a bachelor’s degree in economics from the University of Dayton.

Mr. Riordan joined Annaly and FIDAC in May 2008. In his 25 years of experience, Mr. Riordan held various positions in the financing, investing and securitization of commercial real estate. At TIAA-CREF, he was responsible for the oversight of their $22 billion commercial real estate securities portfolio which included CMBS and CDO securities, REIT debt, REIT common and preferred stock, and the origination of small balance commercial mortgage loans. Mr. Riordan is a CPA and received a bachelor’s degree in accounting from Rutgers-Newark College of Arts and Sciences and an MBA in finance from Seton Hall University.

Annaly manages assets on behalf of institutional and individual investors worldwide. The Company’s principal business objective is to generate net income for distribution to investors from its investment securities and from dividends it receives from its subsidiaries. Annaly is a Maryland corporation that 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, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 the 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, changes in the market value of our assets, changes in business conditions and the general economy, changes in government regulations affecting our business, our ability to maintain our qualification as a REIT for federal income tax purposes, risks associated with the broker-dealer business of our subsidiary, as well as risks associated with the investment advisory business of our subsidiaries, including the removal by clients of assets they manage, their regulatory requirements and competition in the investment advisory 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 most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. 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.