As of the close of business on March 18, 2008, the Company's MBS securities portfolio consisted of approximately $539 million of Agency MBS and $31 million of AAA-rated non-Agency MBS. As of March 18, 2008, these securities were financed using approximately $516 million of reverse repurchase agreements with an average haircut of 6%.

The Company also owns approximately $408 million of prime quality adjustable rate mortgage loans permanently financed with collateralized debt obligations and held in securitization trusts. As of March 18, 2008, the Company has $33 million of cash and unencumbered securities available to meet margin calls and for new investments.

Including the previously announced Agency MBS sales on March 7 and 10, 2008, the Company has sold an aggregate of $447 million of Agency MBS during March 2008. Realized losses from these transactions, including terminations of associated interest rate hedges, total approximately $13 million. The Company has met all margin calls and increases in required haircut amounts received to date for its repurchase agreement financings.

In light of the realized losses incurred from the asset sales, the Company has withdrawn its earnings per share guidance issued for 2008 of $0.45 to $0.55 per common share. -- New York Mortgage Trust, Inc.