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Western Asset Mortgage Capital Corporation Announces Pricing Of Public Offering Of 12,000,000 Shares Of Common Stock





PASADENA, Calif., Sept. 28, 2012 /PRNewswire/ -- Western Asset Mortgage Capital Corporation (NYSE: WMC) today announced that it has priced a public offering of 12,000,000 shares of common stock at a price to the public of $22.20 per share.  Western Asset Mortgage Capital Corporation has also granted the underwriters an option to purchase up to an additional 1,800,000 shares of common stock.  The offering is subject to customary closing conditions and is expected to close on October 3, 2012.

The Company intends to use the net proceeds of the offering primarily to purchase Agency RMBS (residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or sponsored entity) and may, at opportunistic times, also purchase its potential target assets (as described below).

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Jefferies & Company, Inc. are acting as the joint book runners for the offering.   

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these 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. 

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission.  The public offering is being made only by means of a prospectus, copies of which may be obtained by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling (800) 503-4611, or by e-mailing prospectus.cpdg@db.com;  Citigroup Global Markets Inc., Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, telephone: (800) 831-9146, or email batprospectusdept@citi.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (866) 803-9204; or Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, or by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com.



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