Crystal River Capital, Inc. to Announce Third Quarter 2006 Results

Market Wire, November, 2006

Crystal River Capital, Inc. (NYSE: CRZ) (the "Company" or "Crystal River") is scheduled to announce its third quarter 2006 financial results on Monday, November 13, 2006, after the close of trading on the New York Stock Exchange. The earnings release will be posted on the Company's website at http://ir.crystalriverreit.com . Management will review the third quarter 2006 results in a teleconference on Tuesday, November 14, 2006 at 9:00 a.m. (EDT).

The teleconference can be accessed by dialing 877-502-9272 (Domestic) and 913-981-5581 (International). A replay of the recorded teleconference will be available through Saturday, November 18, 2006. The replay can be accessed by dialing 888-203-1112 (Domestic) and 719-457-0820 (International) and entering passcode 7049735. A webcast of the recorded call will be available at http://ir.crystalriverreit.com .

Crystal River Capital, Inc. is a publicly-traded real estate investment trust (NYSE: CRZ) that invests in real estate related securities, real estate loans and instruments, and various other asset classes. Crystal River is externally managed and advised by Hyperion Brookfield Crystal River Capital Advisors, LLC, a wholly-owned subsidiary of Hyperion Brookfield Asset Management, Inc., and has retained Brookfield Crystal River Capital L.P. and Ranieri & Co., Inc. as sub-advisors. Crystal River Capital commenced operations in March 2005.

Contacts: Hyperion Brookfield Asset Management, Inc. Marion Hayes Assistant Vice President (212) 549-8413 Email: mhayes@hyperionbrookfield.com (CRZ-F)