CYS Investments, Inc. (NYSE: CYS) (the “Company”) today announced preliminary estimates of select financial data for the second quarter ending and as of June 30, 2012. The Company estimates that, when finally, determined, for the quarter ended June 30, 2012, GAAP net income will be in the range of $0.85 to $0.90 per share. The Company estimates that, when finally determined, net asset value as of June 30, 2012 will be in the range of $13.50 to $13.54 per share. The Company estimates that as of June 30, 2012, the fair value of its portfolio was approximately $14.2 billion, and that its leverage ratio (calculated by dividing (i) its repurchase agreements balance plus its payable for securities purchased minus its receivable for securities sold by (ii) net assets) at June 30, 2012 was in the range of 7.5 – 7.7 to 1.0. In addition, the Company currently expects its interest rate spread net of hedge on new investments for the third quarter of 2012 to be between 1.50% and 1.70%. About CYS Investments, Inc. CYS Investments, Inc. is a specialty finance company that invests on a leveraged basis in residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. The Company refers to these securities as Agency RMBS. CYS Investments, Inc. has elected to be taxed as a real estate investment trust for federal income tax purposes. Forward Looking Statements Disclaimer This press release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995, including with regard to the Company's anticipated interest rate spread net of hedge on reinvestments and quarterly dividend for the third quarter of 2012. Forward-looking statements typically are identified by use of the terms such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. No assurance can be given that the offering discussed above will be as indicated. The Company’s interest rate spread net of hedge on reinvestments and its quarterly dividend for the third quarter of 2012 are subject to numerous possible events, factors and conditions, many of which are beyond the control of the Company and not all of which are known to it, including, without limitation, market conditions and those described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2011, which has been filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.