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Dynex Capital, Inc. Announces Executive Management Changes; Election Of Mosley And Salcetti To Board Of Directors; Declares Fourth Quarter Common And Preferred Dividends

Mr. Boston said, “Over her 20 year career, Smriti has worked through positions of increasing responsibility with a focus on investment portfolio and risk management. Given the increased uncertainty with the volatile environment, we will greatly benefit from her significant experience and look forward to her becoming a key contributor to our strategy and success.” Mr. Akin commented, “Our board of directors has complete confidence in Smriti, and we are delighted to welcome her as the newest member of the management team.”

Ms. Popenoe holds a Bachelor of Science in Chemistry and Environmental Science from St. Joseph's College in Bangalore, India, a Masters-Level French Diploma from the Alliance Francaise, and an MBA from the University of Rochester and is a Chartered Financial Analyst.

New Board Members

Dynex also announced today that its Board of Directors has elected two new members.

Robert A. Salcetti, former Managing Director at JP Morgan Chase, joined the board effective today, and Valerie Mosley, Chief Executive Officer of Valmo Ventures, will join the board effective December 16, 2013. These additions increase the number of Dynex directors from five to seven. Mr. Salcetti has over 34 years of experience in the financial services and mortgage sectors, including serving as Managing Director at JP Morgan Chase from 1996 to 2008 where he led operations that designed, provided and managed credit facilities for loan warehousing financing, receivables and mortgage servicing rights financing. Prior to forming Valmo Ventures, Ms. Mosley was Partner, Senior Vice Partner and Investment Strategist at Wellington Management Company, LLP. During a 20-year career at the firm, Ms. Mosley managed a multi-billion dollar investment portfolio for corporate and public pension funds, insurance company general accounts, endowment funds and mutual funds.

“In June, at our annual shareholder meeting, we made a pledge to recruit the very best, most talented leaders to our already outstanding board,” said Mr. Akin. “Valerie and Robert bring tremendous financial and leadership expertise and experience to the table. I am confident they will make enormous contributions as we support Byron and his team in strengthening our business and continuing to build value for our shareholders.”

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