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Chimera Investment Corporation Obtains New York Stock Exchange Listing Extension

Chimera Investment Corporation (NYSE: CIM) announced today that it has received a four-month extension for continued listing and trading of the Company’s stock on the New York Stock Exchange (NYSE).

The extension granted by the NYSE, which is subject to review by the NYSE on an ongoing basis, provides the Company until January 15, 2013 to file its 2011 Annual Report on Form 10-K with the Securities and Exchange Commission. During the extension period, trading of the Company’s shares on the NYSE will remain unaffected.

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 quarters ended March 31 and June 30, 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 consolidated financial statements included in its previously filed Annual Reports on Form 10-K for the years ended December 31, 2010, 2009 and 2008, and its 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, need to 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. The Company continues to work diligently to complete the ongoing work on the restatement and expects to be in regular contact with the NYSE concerning its progress.

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