CYS Investments, Inc. Announces Public Offering of Series B Cumulative Redeemable Preferred Stock

  CYS Investments, Inc. Announces Public Offering of Series B Cumulative
  Redeemable Preferred Stock

Business Wire

NEW YORK -- April 23, 2013

CYS Investments, Inc. (NYSE: CYS) (the "Company") today announced that it
plans to make a public offering of shares of its Series B Cumulative
Redeemable Preferred Stock (the “Series B Preferred Stock”). The Company
intends to apply to list the Series B Preferred Stock on the New York Stock
Exchange under the symbol “CYS PrB.”

Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner and Smith Incorporated
and UBS Securities LLC are acting as joint book-running managers for the
offering. Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are
acting as joint lead managers. Barclays Capital Inc., Credit Suisse Securities
(USA) LLC and Deutsche Bank Securities Inc. are acting as co-managers.
Mitsubishi UFJ Securities (USA), Inc. is acting as junior co-manager.

The Company intends to use the net proceeds of the offering to invest in
Agency RMBS and for general corporate purposes.

The offering will be made pursuant to the Company's existing shelf
registration statement previously filed with the Securities and Exchange
Commission that became effective upon filing. This press release is neither an
offer to sell nor a solicitation of an offer to buy shares of Series B
Preferred Stock. The offering of these securities will be made only by means
of a prospectus and a related prospectus supplement, a copy of which may be
obtained by contacting:

Morgan Stanley & Co. LLC
Attention: Prospectus Department
1585 Broadway
New York, NY 10036-6775
Telephone: (866) 718-1649

Merrill Lynch, Pierce, Fenner & Smith Incorporated
Attention: Prospectus Department
222 Broadway
New York, NY 10038
Telephone: (800) 294-1322

UBS Securities LLC
Attention: Prospectus Department
299 Park Avenue
New York, NY 10171
Telephone: (877) 827-6444, ext. 561-3884

The prospectus supplement and the accompanying prospectus shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state.

About CYS Investments, Inc.

CYS Investments, Inc. is a specialty finance company that primarily invests on
a leveraged basis in residential mortgage pass-through securities for which
the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac
or Ginnie Mae. CYS Investments has elected to be taxed as a real estate
investment trust for federal income tax purposes.

Forward-Looking Statements Disclaimer

This press release contains "forward-looking statements" made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995, including with regard to the Company's planned offering of Series B
Preferred Stock and the anticipated use of proceeds. Forward-looking
statements typically are identified by use of the terms such as "believe,"
"expect," "anticipate," "estimate," "plan," "continue," "intend," "should,"
"may" or similar expressions. Forward-looking statements are based on our
beliefs, assumptions and expectations of our future performance, taking into
account all information currently available to us. No assurance can be given
that the offering discussed above will be consummated on the terms described
or at all, or that the net proceeds of the offering will be used as indicated.
Consummation and the terms of the offering, and the application of the net
proceeds of the offering, are subject to numerous possible events, factors and
conditions, many of which are beyond the control of the Company and not all of
which are known to us, including, without limitation, market conditions and
those described in our Annual Report on Form 10-K for the fiscal year ended
December 31, 2012, which has been filed with the Securities and Exchange
Commission. All forward-looking statements speak only as of the date on which
they are made. New risks and uncertainties arise over time, and it is not
possible to predict those events or how they may affect us. Except as required
by law, we are not obligated to, and do not intend to, update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.


CYS Investments, Inc.
Richard E. Cleary, 617-639-0440
Chief Operating Officer
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