FBR & Co. Offers Prelim. Results of Self-Tender Offer

FBR & Co. FBRC today announced the preliminary results of its previously announced modified "Dutch auction" tender offer to purchase up to 4 million shares of its common stock at a price between $3.25 and $3.50, which expired at 12:00 midnight, New York City time, on Tuesday, December 18, 2012. Based on a preliminary count by American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, a total of 194,193 shares of FBR common stock were properly tendered and not withdrawn in the tender offer at a price of $3.50 per share (or by shareholders electing to tender at the ultimate purchase price determined under the tender offer terms), including 30,399 shares that were tendered through notice of guaranteed delivery. Accordingly, based on the preliminary results, FBR expects to purchase 194,193 shares, for a total cost of $679,676, excluding fees and expenses relating to the tender offer. These shares represent approximately 0.4% of the shares outstanding as of December 18, 2012.  The number of shares to be purchased and the price per share are preliminary. The determination of the final number of shares to be purchased, the final price per share and the proration factor, if any, is subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares purchased, the final purchase price and the proration factor, if any, will be announced promptly following completion of the verification process. Payment for the shares accepted for purchase, and return of all other shares tendered, will occur promptly after completion of the final purchase price and proration computations, if applicable. FBR is authorized to repurchase additional shares of its common stock from time to time through open market purchases, at prevailing market prices or in privately negotiated or other transactions. FBR's share repurchase program may be modified or terminated by FBR's board of directors at any time. Pursuant to Rule 13e-4(f) under the Securities Exchange Act of 1934, as amended, any such additional repurchases by FBR of shares of its common stock shall not occur prior to January 4, 2013.