ARMOUR Residential REIT Inc. 7% Series C Cumulative Preferred

ARMOUR Residential REIT Inc. invests in residential mortgage-backed securities (MBS) in the United States. The company's securities portfolio primarily consists of the United States Government-sponsored entity's (GSE) and the Government National Mortgage Administration's issued or guaranteed securities backed by fixed rate hybrid adjustable rate and adjustable-rate home loans as well as unsecured notes and bonds issued by the GSE and the United States treasuries as well as money market instruments. It also invests in other securities backed by residential mortgages for which the payment of principal and interest is not guaranteed by a GSE or government agency. The company has elected to be taxed as a real estate investment trust under the Internal Revenue Code. As a result it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. The company was incorporated in 2008 and is based in Vero Beach Florida.