CreXus Investment Corp. Confirms Receipt of Acquisition Proposal

  CreXus Investment Corp. Confirms Receipt of Acquisition Proposal

Business Wire

NEW YORK -- November 13, 2012

CreXus Investment Corp. (NYSE: CXS) today confirmed that its Board of
Directors has received a proposal letter from Annaly Capital Management, Inc.
(NYSE:NLY) to acquire all of the outstanding shares of Common Stock of CreXus
not currently owned by Annaly for $12.50 per share in cash. Annaly owns
approximately 12.4% of CreXus’ Common Stock. Fixed Income Discount Advisory
Company (“FIDAC”), a wholly owned subsidiary of Annaly, manages CreXus, and
each CreXus’ officers also serve as an employee of Annaly or FIDAC.

CreXus’ Board of Directors has formed a Special Committee of independent
directors consisting of Patrick Corcoran, Robert Eastep and Nancy Jo Kuenstner
to consider Annaly’s proposal. The Special Committee intends to retain
independent advisors, including an independent financial advisor, to assist in
its work. No decisions have been made by the Special Committee with respect to
CreXus’ response to the proposal. There can be no assurance that any agreement
will be executed or that this or any other transaction will be approved or

About CreXus Investment Corp.

CreXus acquires, manages and finances, directly or through its subsidiaries,
commercial mortgage loans and other commercial real estate debt, commercial
real property, commercial mortgage-backed securities and other commercial and
residential real estate-related assets. The Company’s principal business
objective is to generate net income for distribution to investors from the
spread between the yields on its investments and the cost of borrowing to
finance their acquisition and secondarily to provide capital appreciation. The
Company, a Maryland corporation that has elected to be taxed as a real estate
investment trust (“REIT”), is externally managed by Fixed Income Discount
Advisory Company, a wholly owned subsidiary of Annaly Capital Management, Inc.


CreXus Investment Corp.
Investor Relations, 646-829-0159
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