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Annaly Capital Management, Inc. (NYSE:
NLY) (“Annaly” or the “Company”) today announced that its Chairman, President and Chief Executive Officer, Michael A.J. Farrell, has completed his treatment program and that his cancer is in remission.
“There are no certainties in life, but I feel good and have been given an encouraging prognosis,” said Mr. Farrell. “This good news was made possible because of my terrific medical team and the support of my family, friends and colleagues, and I want to thank them for that. I look forward to continuing my work and, along with my very capable management team, remain committed to our mission of delivering strong, income-based returns to Annaly shareholders.”
Mr. Farrell continued: “Looking ahead, I believe there are many risks in the marketplace, including slow economic growth, uncertainty in Europe and the future of monetary policy. Our management team has maintained a relatively conservative operating profile that is designed to prepare us for this environment and position us for a wide range of outcomes. I believe it has set us on a path to continue to generate attractive risk-adjusted returns over the long-term.”
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 financings; changes in the market value of our assets; changes in business conditions and the general economy; our ability to consummate any contemplated investment opportunities; risks associated with the businesses of our subsidiaries, including the investment advisory business of our wholly-owned subsidiaries, including: the removal by clients of assets managed, their regulatory requirements, and competition in the investment advisory business; risks associated with the broker-dealer business of our wholly-owned subsidiary; changes in government regulations affecting our business; our ability to maintain our qualification as a REIT for federal income tax purposes; and our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended. 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.