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Chimera Investment Corporation Initiates Regular Quarterly Dividend Of $0.09 Per Share

Chimera Investment Corporation (NYSE: CIM) announced today that it plans to initiate a regular quarterly dividend of $0.09 per share for each of the third quarter and fourth quarter of 2012. Portions of such distributions may be ordinary income, capital gains or a return of capital. The Board of Directors will review this program after the conclusion of the fourth quarter of 2012.

The Company previously announced that it would delay the filing of its Form 10-K for the year ended December 31, 2011 (“2011 10-K”), and its Form 10-Q for the quarter ended March 31, 2012, due to the evaluation of its non-Agency residential mortgage-backed securities portfolio to determine the appropriate treatment under GAAP according to ASC 320-10,  Investments – Debt and Equity Securities, ASC 325-40,  Investments – Other – Beneficial Interests in Securitized Financial Assets and ASC 310-30,  Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality.

Separately, the Company announced that the Company’s previously filed Annual Reports on Form 10-K for the years ended December 31, 2010, 2009 and 2008, and the Quarterly Reports on Form 10-Q beginning with the quarter ended September 30, 2008, and for all subsequent quarters through the quarter ended September 30, 2011, will be restated and can no longer be relied upon.

The restatement is not expected to affect the Company’s previously reported GAAP or economic book values, actual cash flows, dividends and taxable income for any previous period. The Company is currently unable to estimate the timing for filing its 2011 10-K, and expects to file its Quarterly Report on Form 10-Q for the quarterly period ending March 31, 2012 within 60 days of filing the 2011 10-K and any subsequent unfiled Quarterly Reports will be filed as soon as practicable.

Chimera Investment Corporation invests in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes. The Company’s principal business objective is to generate income from the spread between yields on its investments and its cost of borrowing and hedging activities. The Company is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”).

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