In addition, the Board of Directors declared a dividend of $0.50 per shareon shares of its Series A Preferred Stock for the 2008 third quarter inaccordance with the terms of the Series A Preferred Stock. The dividend willbe payable on October 31, 2008 to stockholders of record on September 30,2008.

About New York Mortgage Trust

New York Mortgage Trust, Inc. is a self-advised real estate investmenttrust (REIT) in the business of investing in and managing a portfolio ofAgency mortgage-backed securities (MBS), prime credit quality residentialadjustable rate mortgage (ARM) loans and non-agency mortgage-backedsecurities. As a REIT, the Company is not subject to federal income tax,provided that it distributes at least 90% of its REIT income to stockholders.For Further Information

Certain statements contained in this press release may be deemed to beforward-looking statements that predict or describe future events or trends.The matters described in these forward-looking statements are subject to knownand unknown risks, uncertainties and other unpredictable factors, many ofwhich are beyond the Company's control. The Company faces many risks thatcould cause its actual performance to differ materially from the resultspredicted by its forward-looking statements, including, without limitation,changes in business conditions and the general economy, a rise in interestrates or an unfavorable change in prepayment rates may cause a decline in themarket value of the Company's assets, borrowings to finance the purchase ofassets may not be available on favorable terms, the Company may not be able tomaintain its qualification as a REIT for federal tax purposes, the Company maybe exposed to the risks associated with investing in mortgage loans, includingchanges in loan delinquencies, and the Company's hedging strategies may not beeffective. The reports that the Company files with the Securities and ExchangeCommission contain a more detailed description of these and many other risksto which the Company is subject. Because of those risks, the Company's actualresults, performance or achievements may differ materially from the results,performance or achievements contemplated by its forward- looking statements.The information set forth in this news release represents management's currentexpectations and intentions. The Company assumes no responsibility to issueupdates to the forward-looking matters discussed in this press release.

SOURCE New York Mortgage Trust, Inc.