Chimera Investment Corp.

Mr. Lambiase is the President and Chief Executive Officer of Chimera Investment Corporation and is an Executive Vice President, Structured Products for Annaly and FIDAC and a member of our Manager's Investment Committee. He joined these companies in June 2004. Before joining Annaly and FIDAC, Mr. Lambiase was a Director in Fixed Income Sales at Nomura Securities International, Inc. Over his 11 year employment at Nomura, Mr. Lambiase was responsible for the distribution of commercial and residential mortgage-backed securities to a wide variety of institutional investors. Mr. Lambiase also held positions at Bear, Stearns & Company as Vice President in Institutional Fixed Income Sales and as a mortgage analyst in the Financial Analytics and Structured Transaction Group. Mr. Lambiase has a Bachelors Degree in Economics from the University of Dayton.

Ms. Denahan is the Chief Financial Officer of Chimera Investment Corporation and the Controller of Annaly and FIDAC. Prior to joining the companies in October 2002, Ms. Denahan was a business consultant in Fort Lauderdale , Florida. Ms. Denahan has a Bachelors Degree in Accounting and a Masters Degree in Business Administration from Florida Atlantic University.

Mr. Woschenko is the Head of Investment of Chimera Investment Corporation and is an Executive Vice President for FIDAC. Before joining FIDAC in August, 2007, Mr. Woschenko worked at PHH Mortgage since 2005 with responsibilities for arranging, modeling and pricing the securitizations of their non-Agency residential mortgage production. He was a member of both PHH's Credit Committee and Interest Rate Risk Committee. Previously, Mr. Woschenko was employed as Senior Mortgage Credit Trader at RBC Capital, Senior Asset Backed Securities Banker at BB&T Capital Markets and as a Principal in Mortgage Trading at Mariner Capital Management. Mr. Woschenko has a Bachelors Degree in Accounting from Widener University.

Mr. Dyer is the Head of Underwriting of Chimera Investment Corporation and is an Executive Vice President for FIDAC. Before joining FIDAC in August, 2007, Mr. Dyer was Vice President, Credit Risk Management for PHH Mortgage Corporation from 1997 where his responsibilities included supervision of the Credit Solutions Department. Mr. Dyer was Vice President at the Fixed-Income Division of Nomura Asset Capital Corporation from 1994 to 1997, where he managed deal-related activities critical for the securitization or sale of the mortgage loans. Mr. Dyer has an M.B.A. from St. John's University and a Bachelor of Science from St. Francis College .

Jeremy Diamond is a Class III Director. Mr. Diamond is a Managing Director for Annaly and FIDAC. He joined the Company in 2002. From 1990 to 2002 he was President of Grant's Financial Publishing, a financial research company, and publisher of Grant's Interest Rate Observer. In addition to his responsibilities as principal business executive, Mr. Diamond conducted security analysis and financial market research. From 1999 to 2002, he was also the chief executive officer of Grant's Investor. Mr. Diamond began his career as an analyst in the investment banking group at Lehman Brothers. Mr. Diamond has a Bachelors Degree from Princeton University and a Masters Degree in Business Administration from the Anderson School at U.C.L.A. Mr. Diamond serves on the board of directors for Chimera Investment Corporation, a New York Stock Exchange Listed Company that trades under the ticker symbol CIM, which is managed by FIDAC.

Mark Abrams is one of our Class I Directors. Mr. Abrams has served as Chief Investment Officer of the Presidential Life Insurance Company since November 2003 and as Executive Vice President since 2005. He was Senior Vice President of the Presidential Life Insurance Company from 2001 to 2005. Before that, Mr. Abrams served as Vice President of the Presidential Life Insurance Company since October 1994. Mr. Abrams currently serves as a director of the Presidential Life Insurance Company. Mr. Abrams has a B.A. from Hobart College.

Paul A. Keenan is one of our Class II Directors. Mr. Keenan is a partner with and the head of Real Estate Finance for the law firm Kelley, Drye and Warren LLP. Mr. Keenan has a J.D. from Seton Hall University and a B.A. from Rutgers, the State University of New Jersey.

Paul Donlin is one of our Class I Directors and our non-executive Chairman of the Board of Directors. Mr. Donlin left Citigroup after a career that spanned 21 years. For the past 10 years at Citigroup, Mr. Donlin was in the securitization business, with his most recent position being the Head of Global Securitization in the Global Securitized Markets Business within Fixed Income. Earlier in his career at Citicorp, Mr. Donlin managed the Structured Finance and Advisory Unit of Citicorp's Private Bank. Mr. Donlin has a B.S. from Georgetown University and M.B.A. from Harvard University.