Chimera Investment Corporation Announces 3rd Quarter 2013 Dividend of $0.09 per Share and June 30, 2013 Estimated GAAP Book

  Chimera Investment Corporation Announces 3rd Quarter 2013 Dividend of $0.09
  per Share and June 30, 2013 Estimated GAAP Book Value of $3.52 per Share

Business Wire

NEW YORK -- August 23, 2013

The Board of Directors of Chimera Investment Corporation (NYSE:CIM) declared
the third quarter 2013 common stock cash dividend of $0.09 per common share.
This dividend is payable October 31, 2013, to common shareholders of record on
October 4, 2013. The ex-dividend date is October 2, 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 half of 2013, the Company paid cash dividends totaling
$0.18 per common share, of which the Company estimates $0.15 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 June 30,
2013, its GAAP book value was $3.52 per share and its economic book value was
$3.01 per share, compared to its estimated March 31, 2013, GAAP book value of
$3.55 per share and economic book value of $3.08 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 June 30, 2012, and 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 (“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
March 31, 2012. 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 and subsequent quarterly reports on Form 10-Q.

Contact:

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