Anworth Mortgage Asset Corporation

SANTA MONICA, Calif., April 17 -- Anworth
Mortgage Asset Corporation (NYSE: ANH) announced today that its board of
directors declared a quarterly common stock dividend of $0.02 per share for
the first quarter of 2006. The common stock dividend is payable on May 17,
2006 to common stockholders of record as of the close of business on April
28, 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050503/LATU102LOGO )
Commenting on Anworth's operations, Lloyd McAdams, Anworth's Chairman
of the Board, President and Chief Executive Officer, stated, "Compared with
the fourth quarter of 2005, the net income for the first quarter was
relatively unchanged. As interest rates on our borrowings continued to
reset to current levels at more frequent intervals than the reset of the
interest rates on our primarily adjustable-rate mortgage-backed securities,
the result was a narrower interest rate spread. However, the decline in
mortgage prepayments and the resulting reduction in premium amortization
expense tended to partially offset this decline in spread between interest
received and borrowing costs."
Also, in accordance with the terms of the company's 8.625% Series A
Cumulative Preferred Stock, the board of directors declared a preferred
stock dividend of $0.539063 per share for the second quarter of 2006. The
preferred stock dividend is payable on July 17, 2006 to preferred
stockholders of record as of the close of business on June 30, 2006. The
dividend reflects the accrual from April 1, 2006 through June 30, 2006, or
90 days of a 360 day year.
About Anworth Mortgage Asset Corporation
Anworth is a mortgage real estate investment trust (REIT) which invests
in mortgage assets, including mortgage pass-through certificates,
collateralized mortgage obligations, mortgage loans and other real estate
securities. Anworth generates income for distribution to stockholders
primarily based on the difference between the yield on its mortgage assets
and the cost of its borrowings. Through its wholly-owned subsidiary,
Belvedere Trust Mortgage Corporation, Anworth also invests in high quality
jumbo adjustable-rate mortgages and other mortgage-related assets and
finances these loans though securitizations.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based upon our current
expectations and speak only as of the date hereof. 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
increases in the prepayment rates on the mortgage loans securing our
mortgage-backed securities, our ability to use borrowings to finance our
assets, risks associated with investing in mortgage-related assets,
including changes in business conditions and the general economy, our
ability to maintain our qualification as a real estate investment trust for
federal income tax purposes, and management's ability to manage our growth.
Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on
Form 10-Q, recent Current Reports on Forms 8-K and other SEC filings
discuss some of the important 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:
Anworth Mortgage Asset Corporation
John T. Hillman
(310) 255-4438 or (310) 255-4493



SOURCE Anworth Mortgage Asset Corporation