Chimera Investment Corporation Announces 1st Quarter 2013 Dividend of $0.09 per Share and December 31, 2012 Estimated GAAP Book

  Chimera Investment Corporation Announces 1st Quarter 2013 Dividend of $0.09
  per Share and December 31, 2012 Estimated GAAP Book Value of $3.42 per Share

Business Wire

NEW YORK -- March 20, 2013

The Board of Directors of Chimera Investment Corporation (NYSE: CIM) declared
the first quarter 2013 common stock cash dividend of $0.09 per common share.
This dividend is payable April 25, 2013, to common shareholders of record on
April 1, 2013. The ex-dividend date is March 27, 2013.

As previously announced, the Company initiated a regular quarterly dividend of
$0.09 per share for the third and fourth quarters of 2012 dividend and for the
first and second quarters of 2013. The Board of Directors will review this
program after the conclusion of the second quarter of 2013. Portions of the
first quarter 2013 distribution may be ordinary income, capital gains or a
return of capital.

The Company also announced today that it has estimated that as of December 31,
2012, its GAAP book value was $3.42 per share and its economic book value was
$3.04 per share, compared to its estimated September 30, 2012, GAAP book value
of $3.31 per share and economic book value of $2.95 per share.

Estimated economic book value considers the fair values of only the assets the
Company owns or is able to dispose of, pledge, or otherwise monetize, and
specifically excludes assets consolidated for GAAP but which the Company
cannot dispose of, pledge or otherwise monetize. The Company's estimate of
economic book value has important limitations. Should the Company sell the
assets in its portfolio, it may realize materially different proceeds from the
sale than estimated as of the reporting date.

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 by May 7, 2013, and all subsequent
unfiled Quarterly Reports on Form 10-Q and the 2012 Annual Report on Form 10-K
will be filed as soon as practicable.

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 press 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, uncertainties and other factors, including
the impact of the transition to a new independent registered public accounting
firm and the Company’s ability to timely complete the process necessary to
file its quarterly and annual reports for the quarters and year subsequent to
December 31, 2011. The Company does not undertake, and specifically disclaims
all obligation, to publicly release the result of any revisions which may be
made to any forward-looking statements to reflect the occurrence of
anticipated or unanticipated events or circumstances after the date of such
statements, see “Item 1A — Risk Factors” in our Annual Report on Form 10-K for
the year ended December 31, 2011.

Contact:

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