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Arlington Asset Investment Corp. Announces Common Stock Offering

ARLINGTON, Va., March 21, 2012 /PRNewswire/ -- Arlington Asset Investment Corp. (NYSE: AI) (the "Company") announced today that it has commenced an underwritten registered public offering of 1,350,000 shares of Class A common stock.  The Company also expects to grant the underwriters an option for 30 days to purchase up to an additional 202,500 shares of Class A common stock to cover over-allotments, if any. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., will serve as sole bookrunning manager for the offering.  Compass Point Research & Trading, LLC, Mitsubishi UFJ Securities and National Securities Corporation will serve as lead managers and Aegis Capital Corp. will serve as co-manager.

The Company expects to use the net proceeds of this offering to acquire certain of the Company's target assets, including residential mortgage-backed securities ("MBS") issued by U.S. government agencies or guaranteed as to principal and interest by U.S. government agencies or U.S. government-sponsored entities and MBS issued by private organizations. The Company may also use the net proceeds for general working capital purposes.

All shares of Class A common stock will be offered under the Company's existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission. The offering of these shares will be made only by means of a prospectus supplement and accompanying base prospectus, which will be filed with the Securities and Exchange Commission. Copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained by contacting Ladenburg Thalmann & Co. Inc., 520 Madison Avenue, Ninth Floor, New York, NY 10022.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor shall there be any sale of such shares or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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