Preliminary Results Indicate Stockholders' Overwhelming Support for the Election of ALL of Anworth's Director Nominees at Annual Meeting

SANTA MONICA, Calif., May 22, 2014 /PRNewswire/ -- Anworth Mortgage Asset Corporation (NYSE: ANH) today announced that, based on the preliminary vote count provided by its proxy solicitor, stockholders have elected all of Anworth's six director-nominees – Messrs. Lloyd McAdams, Lee A. Ault III, Joe E. Davis, Robert C. Davis, Joseph E. McAdams and Mark S. Maron – at the Company's 2014 Annual Meeting of Stockholders today. Based on the preliminary voting results tabulated by the Company's proxy solicitor, at least 72% of the total votes cast at the Annual Meeting were affirmatively voted "for" the election of all six of Anworth's director nominees, and approximately 76% if you exclude Western's shares and shares owned by Anworth's officers and directors.

Commenting on the preliminary results, Anworth issued the following statement:

Anworth's Board and management appreciate the overwhelming support we received from stockholders, and extend our gratitude for their support throughout this process.

The outcome of today's election affirms our belief that Anworth has the right strategy, the right management and the right Board in place to drive growth and value creation for all stockholders. We look forward to benefitting from the unique real estate finance experience and fresh perspective of our new board member, Mark S. Maron, who will help guide our strategy and serve as another independent voice on the Board.

With the Annual Meeting behind us, the Board's Strategic Review Committee will continue to work with Credit Suisse to identify specific transactions to execute Anworth's announced diversification strategy and make recommendations regarding potential capital markets transactions. We remain focused on executing our investment strategy to drive enhanced value and increase investment returns and look forward to building on our positive momentum.

First Coast Results, Inc., the independent Inspector of Election, has indicated that it expects to issue the preliminary voting results within a few days. Final results of the election will be announced once they are certified by the Inspector.

About Anworth Mortgage Asset Corporation
Anworth is an externally-managed mortgage real estate investment trust. Our principal business is to invest primarily in securities guaranteed by the U.S. Government, such as Ginnie Mae, or guaranteed by federally sponsored enterprises, such as Fannie Mae or Freddie Mac. We seek to generate income for distribution to our shareholders primarily based on the difference between the yield on our mortgage assets and the cost of our borrowings. We are managed by Anworth Management, LLC, or the Manager, pursuant a management agreement. The Manager is subject to the supervision and direction of our Board of Directors and is responsible for (i) the selection, purchase and sale of our investment portfolio; (ii) our financing and hedging activities; and (iii) providing us with management services and other services and activities relating to our assets and operations as may be appropriate. Our common stock is traded on the New York Stock Exchange under the symbol "ANH." Anworth is a component of the Russell 2000® Index.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon our current expectations and speak only as of the date hereof.
Forward-looking statements, which are based on various assumptions (some of which are beyond our control) may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "anticipate," "assume," "estimate," "intend," "continue," or other similar terms or variations on those terms or the negative of those terms. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including but not limited to, changes in interest rates; changes in the market value of our mortgage-backed securities; changes in the yield curve; the availability of mortgage-backed securities for purchase; increases in the prepayment rates on the mortgage loans securing our mortgage-backed securities; our ability to use borrowings to finance our assets and, if available, the terms of any financing; risks associated with investing in mortgage-related assets; changes in business conditions and the general economy, including the consequences of actions by the U.S. government and other foreign governments to address the global financial crisis; implementation of or changes in government regulations affecting our business; our ability to maintain our qualification as a real estate investment trust for federal income tax purposes; our ability to maintain an exemption from the Investment Company Act of 1940, as amended; risks associated with our home rental business; and the Manager's ability to manage our growth. Our Annual Report on Form 10-K and other SEC filings discuss the most significant risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.

Contact: John T. Hillman @ 310/255-4438 or 310/255-4493

SOURCE Anworth Mortgage Asset Corporation