Dynex Capital, Inc. (NYSE: DX) announced today that its Board of Directors has declared a dividend on its 8.50% Series A Cumulative Redeemable Preferred Stock of $0.43681 per share for the third quarter of 2012. The dividend will be paid on October 15, 2012 to shareholders of record of the Series A Preferred Stock as of October 1, 2012. The per share dividend of $0.43681 represents the dividend for the partial quarterly period August 1, 2012 (the issuance date of the Series A Preferred Stock) to, but not including, October 15, 2012. Dynex Capital, Inc. is an internally managed real estate investment trust, or REIT, which invests in mortgage assets on a leveraged basis. The Company invests in Agency and non-Agency RMBS and CMBS. The Company also has investments in securitized single-family residential and commercial mortgage loans originated by the Company from 1992 to 1998. Additional information about Dynex Capital, Inc. is available at www.dynexcapital.com. “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the business of Dynex Capital, Inc. that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of these risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company’s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.