American Capital Mortgage Investment Corp. Announces Launch of Initial Public Offering

BETHESDA, Md., July 20, 2011 /PRNewswire/ -- American Capital Mortgage Investment Corp. (the "Company") announced today that it plans to conduct an initial public offering of its common stock. The Company expects to offer 17,500,000 shares to the public at the proposed initial public offering price of $20.00 per share, for estimated net proceeds of $349 million. The Company will grant the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of common stock at the initial public offering price to cover over-allotments, if any. The completion of the proposed offering depends upon several factors, including market and other conditions.

Concurrently with the Company's initial public offering, American Capital, Ltd. ("American Capital") (Nasdaq: ACAS) expects to purchase $25 million (or 1,250,000 shares) of the Company's common stock at the initial public offering price in a private placement.

The Company plans to use all of the net proceeds of the initial public offering and the concurrent private placement to invest in agency mortgage investments, non-agency mortgage investments and other mortgage-related investments.

Citi, Deutsche Bank Securities, UBS Securities LLC and Wells Fargo Securities, LLC are the joint book-runners for the offering. JMP Securities LLC, Mitsubishi UFJ Securities, Nomura Securities International, Inc. and RBC Capital Markets are co-managers for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective.

This press release is neither an offer to sell nor a solicitation of an offer to buy shares of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities will be made only by means of a prospectus. When available, a copy of the preliminary prospectus may be obtained from Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, telephone: (800) 831-9146; Deutsche Bank Securities, Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone: (800) 503-4611, email: [email protected]; UBS Securities LLC, Attention: Prospectus Department, 299 Park Avenue, New York, New York 10171, telephone: (888) 827-7275; or Wells Fargo Securities, LLC, Attn: Equity Syndicate, 375 Park Avenue, New York, NY 10152-4077, telephone: (800) 326-5897, email: [email protected].

ABOUT AMERICAN CAPITAL MORTGAGE INVESTMENT CORP.

American Capital Mortgage Investment Corp. is a newly organized REIT that intends to invest in and manage a leveraged portfolio of agency mortgage investments, non-agency mortgage investments and other mortgage-related investments. The Company is externally managed and advised by American Capital MTGE Management, LLC, an affiliate of American Capital.

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute "forward-looking statements," including with regard to the closing of the Company's offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Completion of the securities offering on the terms described, and the application of net proceeds, are subject to numerous conditions, many of which are beyond the control of the Company, including, without limitation, changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; general economic conditions; market conditions; conditions in the market for mortgage related investments; legislative and regulatory changes that could adversely affect the business of the Company; and other factors, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering and any periodic reports filed with the Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

CONTACT:
Investors – (301) 968-9220

SOURCE American Capital Mortgage Investment Corp.