Chimera Investment Corporation Announces Change of Auditor; Updates Status of 10-K Filing

Chimera Investment Corporation

announced today that it has appointed Ernst & Young LLP as the Company's independent registered public accounting firm beginning with the quarter ending March 31, 2012. The audit services provided by Deloitte & Touche LLP, the Company's current auditor, will conclude after the completion of Deloitte's audit services for the fiscal year ending December 31, 2011. As previously disclosed on March 1, 2012, additional time is required for the Company to complete the preparation of its financial statements for the fiscal year ending December 31, 2011, and the Annual Report on Form 10-K. The Company is reviewing its non-Agency residential mortgage-backed securities portfolio to determine the treatment under GAAP according to ASC 320, Investments – Debt and Equity Securities, ASC 325-40, Investments – Other – Beneficial Interests in Securitized Financial Assets or ASC 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality.