Chimera Investment Corporation (NYSE: CIM) announced today that it has appointed Ernst & Young LLP as the Company’s independent registered public accounting firm beginning with the quarter ending March 31, 2012. The audit services provided by Deloitte & Touche LLP, the Company’s current auditor, will conclude after the completion of Deloitte’s audit services for the fiscal year ending December 31, 2011. As previously disclosed on March 1, 2012, additional time is required for the Company to complete the preparation of its financial statements for the fiscal year ending December 31, 2011, and the Annual Report on Form 10-K. The Company is reviewing its non-Agency residential mortgage-backed securities portfolio to determine the treatment under GAAP according to ASC 320, Investments – Debt and Equity Securities, ASC 325-40, Investments – Other – Beneficial Interests in Securitized Financial Assets or ASC 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality. The Company expects to file its 2011 Form 10-K as soon as practicable, and to file its Form 10-Q for the quarter ending March 31, 2012 within 60 days after it files its 2011 Form 10-K. There can be no assurance that the Company will file the First Quarter 10-Q by May 10, 2012, the filing deadline for such report under the Securities Exchange Act of 1934, as amended. While the Company has not completed its analysis, the effect of this review may result in non-cash changes in the historical GAAP accounting results of the Company that will not affect the Company’s previously announced GAAP or economic book values, actual cash flows, dividends and taxable income for any period. The Company’s previously announced third quarter 2011 GAAP book value of $3.27 per share and economic book value of $3.01 per share will not change as a result of this analysis. The Company determined that as of December 31, 2011, its GAAP book value was $2.97 per share, its economic book value was $2.82 per share, and its taxable income for the fourth quarter 2011 was $0.11 per share. The Company’s dividend distributions are based on taxable income, not GAAP income, and the results of this analysis will have no impact on the Company’s prior or future dividend distributions. On March 1, 2012, the Company declared the first quarter 2012 common stock cash dividend of $0.11 per common share. This dividend is payable April 27, 2012, to common shareholders of record on March 30, 2012. The ex-dividend date is March 28, 2012.