Annaly Capital Management, Inc. Announces Conversion Rate Adjustment for 4.00% Convertible Senior Notes Due 2015

Tue Apr 2, 2013 4:23pm EDT

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NEW YORK--(Business Wire)--
Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today
announced an adjustment to the conversion rate for 4.00% Convertible Senior
Notes Due 2015 (the "Notes"). The adjustment to the conversion rate for the
Notes is being made pursuant to the governing indenture for the Notes in light
of the Company's previously announced first quarter 2013 common stock cash
dividend of $0.45 per common share. The new conversion price for the Notes is
$13.7440 per common share, effective March 27, 2013. The conversion price for
the Notes was previously $14.1447 per common share. The new conversion rate for
each $1,000 principal amount of Notes is 72.7592 of the Company`s common shares.
The conversion rate for each $1,000 principal amount of Notes was previously
70.6980 of the Company`s common shares. Notice of the conversion rate adjustment
was delivered to security holders and Wells Fargo Bank, National Association,
the trustee, in accordance with the terms of the governing indenture for the
Notes. 

Annaly`s principal business objective is to generate net income for distribution
to its shareholders 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, our ability to integrate the commercial
mortgage business, our ability to consummate any contemplated investment
opportunities, changes in government regulations affecting our business, our
ability to maintain our qualification as a REIT for federal income tax purposes,
our ability to maintain an exemption from registration under the Investment
Company Act of 1940, 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.

Annaly Capital Management, Inc.
Investor Relations, 888-8Annaly
www.annaly.com

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