Dynex Capital, Inc. Declares Third Quarter 2013 Common Dividend Of $0.27, Series A Preferred Dividend Of $0.53125, And Series B Preferred Dividend Of $0.476525

Headline of release should read: ... Series B Preferred Dividend of $0.4765625 (sted ...Series B Preferred Dividend of $0.476525). Third graph, first sentence of release should read: ...and $0.4765625 per share on its 7.625% Series B Cumulative Redeemable Preferred Stock (sted ...and $0.476525 per share on its 7.625% Series B Cumulative Redeemable Preferred Stock).

The corrected release reads:

DYNEX CAPITAL, INC. DECLARES THIRD QUARTER 2013 COMMON DIVIDEND OF $0.27, SERIES A PREFERRED DIVIDEND OF $0.53125, AND SERIES B PREFERRED DIVIDEND OF $0.4765625

Dynex Capital, Inc. (NYSE: DX) announced today that the Company’s Board of Directors has declared dividends on shares of its common and preferred stock for the third quarter of 2013.

Common Stock Dividend

The Company’s Board of Directors has declared a quarterly dividend of $0.27 per common share for the third quarter of 2013 payable on October 31, 2013 to shareholders of record on October 7, 2013. There is no dividend reinvestment discount for third quarter dividends reinvested through the Company's Dividend Reinvestment and Share Purchase Plan.

Preferred Stock Dividends

The Company also announced that it will pay the regular quarterly dividend of $0.53125 per share on its 8.50% Series A Cumulative Redeemable Preferred Stock (NYSE: DXPRA) and $0.4765625 per share on its 7.625% Series B Cumulative Redeemable Preferred Stock (NYSE: DXPRB). Both dividends will be paid on October 15, 2013 to shareholders of record of the Series A and Series B Preferred Stocks as of October 1, 2013.

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.

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