CYS Investments, Inc. Board Of Directors Declares Third Quarter 2012 Common Stock Dividend Of $0.45 Per Share And Preferred Stock Dividend

The Board of Directors of CYS Investments, Inc. (NYSE: CYS) (the "Company") today declared a quarterly dividend of $0.45 per share of common stock for the third quarter of 2012. The dividend will be paid on October 17, 2012 to common stock stockholders of record on September 26, 2012.

In accordance with the terms of the 7.75% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”) of the Company, the Board of Directors of the Company has declared a Series A Preferred Stock cash dividend of $0.3875 per share of Series A Preferred Stock for the partial quarterly period that began on August 3, 2012, which is the initial issuance date of the Series A Preferred Stock, and ends on October 14, 2012. This dividend is payable on October 15, 2012 to Series A Preferred Stock stockholders of record as of October 1, 2012.

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. The Company has elected to be taxed as a real estate investment trust for federal income tax purposes.

Forward-Looking Statements Disclaimer

This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the payment of the dividend. Forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. These beliefs, assumptions and expectations are subject to risks and uncertainties and can change as a result of many possible events or factors, not all of which are known to us, including those described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2011, which has been filed with the Securities and Exchange Commission. If a change occurs, these forward-looking statements may vary materially from those expressed in this release. All forward-looking statements speak only as of the date on which they are made. Except as required by law, we are not obligated to, and do not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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