Anworths Board Names Joseph E. McAdams as CEO Effective September 30, 2018

Anworth Mortgage Asset Corporation (NYSE: ANH) (“Anworth”) announced
today that its Board of Directors has appointed Joseph E. McAdams as its
Chief Executive Officer effective September 30, 2018. Lloyd McAdams, 73,
Anworth’s Founder, Chairman of the Board of Directors, and current Chief
Executive Officer, will remain Chairman of the Board of the Directors.

Joseph E. McAdams, 49, has served as Anworth’s President since 2016, its
Chief Investment Officer since 2003, and a Director on the Board of
Directors since 2002. Mr. Joseph E. McAdams will continue to hold those

Joseph E. McAdams stated: “It has been a privilege to be part of the
Anworth team for over 20 years and is an honor to have the opportunity
to serve as its CEO. I am proud of Anworth’s long-term record of
delivering attractive levels of income and total return to shareholders
and am confident that as a hybrid mortgage REIT, we have the right team
and opportunistic strategy in place to continue that success as the
residential mortgage market evolves.”

Anworth’s Lead Independent Director, Lee A. Ault III, commented that,
“Our Board has had the privilege of working closely with Joe McAdams
over a period of many years and know him to be an energetic,
experienced, and highly-capable executive who has played a major role in
the successful evolution of Anworth and our transition from an
agency-only to a hybrid mortgage REIT. His appointment as CEO, and the
retention of Lloyd McAdams as Chairman of the Board, will provide
business continuity and a natural transition going forward.”

Lloyd McAdams remarked: “I look forward to continuing in my current role
as Chairman and our moving forward successfully as we benefit from
expanding mortgage investment opportunities, from which I expect that
Anworth will be particularly well-suited to provide our shareholders
with meaningful returns.”

About Anworth Mortgage Asset Corporation

Anworth is an externally-managed mortgage real estate investment trust.
We invest primarily in mortgage-backed securities that are either rated
“investment grade” or are 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 our Manager, pursuant to a
management agreement. Our 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; 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 our 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.

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