Chimera Investment Corporation Announces 2nd Quarter 2013 Dividend of $0.09 per Share; Dividend Distribution Tax Information;

  Chimera Investment Corporation Announces 2nd Quarter 2013 Dividend of $0.09
  per Share; Dividend Distribution Tax Information; March 31, 2013 Estimated
  GAAP Book Value of $3.55 per Share

Business Wire

NEW YORK -- June 19, 2013

The Board of Directors of Chimera Investment Corporation (NYSE: CIM) declared
the second quarter 2013 common stock cash dividend of $0.09 per common share.
This dividend is payable July 31, 2013, to common shareholders of record on
July 1, 2013. The ex-dividend date is June 27, 2013.

As previously announced, the Company initiated a regular quarterly dividend of
$0.09 per common share for each of the quarters in 2013, portions of which may
be ordinary income, capital gains or a return of capital. The Board of
Directors will review this program after the conclusion of the fourth quarter
of 2013. For the first quarter of 2013, the Company paid cash dividends
totaling $0.09 per common share, of which the Company estimates $0.05 per
share is taxable income for federal tax purposes. Taxable income and the
ultimate composition of the dividend between income and return of capital are
calculated on a cumulative basis and will change over the course of the year.
The character and composition of the dividend will not be finalized until the
Company files its 2013 tax return in 2014.

The Company also announced today that it has estimated that as of March 31,
2013, its GAAP book value was $3.55 per share and its economic book value was
$3.08 per share, compared to its estimated December 31, 2012, GAAP book value
of $3.42 per share and economic book value of $3.04 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 towards
becoming current on all of its filings required under applicable securities
laws. The Company will file its Quarterly Report on Form 10-Q for the
quarterly period ending March 31, 2012, all subsequent unfiled Quarterly
Reports and Annual Report on Form 10-K 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.

This news release contains or incorporates by reference certain
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Exchange Act. Forward-looking statements
which are based on various assumptions (some of which are beyond the Company’s
control) may be identified by reference to a future period or periods or by
the use of forward-looking terminology, such as “believe,” “expect,”
“anticipate,” “estimate,” “plan,” “continue,” “intend,” “should,” “may,”
“would,” “will” or similar expressions, or variations on those terms or the
negative of those terms. The Company’s forward-looking statements are subject
to numerous 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