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Chimera Investment Corporation Files 2011 Annual Report on Form 10-K and Restated Prior Periods



  Chimera Investment Corporation Files 2011 Annual Report on Form 10-K and
  Restated Prior Periods

Business Wire

NEW YORK -- March 8, 2013

Chimera Investment Corporation (NYSE: CIM) today filed with the U.S.
Securities and Exchange Commission ("SEC") its Annual Report on Form 10-K for
the year ended December 31, 2011 (“2011 10-K”). In the 2011 10-K, Chimera
restated its previously issued (i) consolidated statement of financial
condition included in its Annual Report on Form 10-K for the year ended
December 31, 2010 and (ii) consolidated statements of operations and
comprehensive income (loss), consolidated statements of changes in
stockholders’ equity, and consolidated statements of cash flows for the years
ending December 31, 2010 and 2009, including the cumulative effect of the
restatement on retained earnings (accumulated deficit) as of the earliest
period presented (the “Restatement”).

The Restatement has no material effect on the Company’s previously reported
GAAP or economic book values, the net increase (decrease) in cash and cash
equivalents as presented in its historical Consolidated Statements of Cash
Flows, nor any effect on taxable income.

The Company continues to work diligently to complete the ongoing work on
becoming current on all of its filings required under applicable securities
laws. The Company expects to file its Quarterly Report on Form 10-Q for the
quarterly period ending March 31, 2012 within 60 days of filing this 2011 10-K
and any subsequent unfiled Quarterly Reports and the 2012 10-K will be filed
as soon as practicable.

For a complete discussion of the Restatement, see the Explanatory Note, Notes
16 and 17 of the Notes to the Consolidated Financial Statements, “Item 6 –
Selected Financial Data” and “Item 7 – Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in the 2011 10-K.

Chimera Investment Corporation invests in residential mortgage loans,
residential mortgage-backed securities, real estate-related securities and
various other asset classes. The Company’s principal business objective is to
generate income from the spread between yields on its investments and its cost
of borrowing and hedging activities. The Company is a Maryland corporation
that has elected to be taxed as a real estate investment trust (“REIT”).

This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements are
based on the current beliefs and expectations of the Company’s management and
are subject to significant risks and uncertainties. Because these
forward-looking statements involve risks and uncertainties, there are
important factors that could cause our actual results, as well as our
expectations regarding materiality or significance, the Restatement’s
quantitative effects, the effectiveness of our disclosure controls and
procedures, material weaknesses in internal control over financial reporting
and the filing of our untimely SEC reports, to differ materially from those in
the forward-looking statements. The Company does not undertake to update the
forward-looking statements to reflect the impact of circumstances or events
that may arise after the date of the forward-looking statements. For a
discussion of a variety of risk factors affecting our business and prospects,
see “Item 1A — Risk Factors” in our 2011 10-K, as supplemented by the reports
we have filed since the 2011 10-K.

Contact:

Chimera Investment Corporation
Investor Relations, 646-454-3759
www.chimerareit.com
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