Chimera Investment Corporation Announces Special Dividend of $0.20 Per Common Share

  Chimera Investment Corporation Announces Special Dividend of $0.20 Per
  Common Share

Business Wire

NEW YORK -- December 19, 2013

The Board of Directors of Chimera Investment Corporation (NYSE:CIM) today
declared a special common stock cash dividend of $0.20 per common share. This
special dividend is payable January 31, 2014, to common shareholders of record
on January 8, 2014. The ex-dividend date is January 6, 2014. The special
dividend may constitute a return of capital 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 2014 tax return in 2015.

Matthew Lambiase, the Chief Executive Officer and President of Chimera, said:
“2013 was a challenging year for leveraged mortgage investors and Chimera’s
investment team worked hard to protect the Company’s book value. By operating
at low leverage and by avoiding new issue loan securitizations as credit
spreads widened, our book value held up better than most in the turbulent
market. Chimera’s management and Board of Directors believe that the best use
of the Company’s liquidity at this time is to return a portion to shareholders
in a special dividend. Chimera continues to be positioned defensively and has
ample liquidity to take advantage of opportunities that may arise in the
potentially tumultuous bond market ahead.”

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 Annual Report on Form 10-K for the year ended
December 31, 2012, and all other required filings 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
September 30, 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 its Annual Report on Form 10-K for
the year ended December 31, 2011 and subsequent quarterly reports on Form


Chimera Investment Corporation
Investor Relations
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