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Ellington Financial LLC Appoints Lisa Mumford to Board of Directors

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Ellington Financial LLC (NYSE:EFC) ("EFC" or the "Company") today
announced the appointment of Lisa Mumford, the Company's former Chief
Financial Officer, to its Board of Directors (the "Board"), effective
immediately. In conjunction with Ms. Mumford's appointment, Michael W.
Vranos, Co-Chief Investment Officer of the Company, will step down from
the Board. Mr. Vranos will continue to serve as Co-CIO as well as Chief
Executive Officer of EFC's external manager, Ellington Financial
Management LLC, and Ellington Management Group, L.L.C.

"We are thrilled to welcome Lisa to our Board," said Thomas Robards,
Chairman of the Board of EFC. "In the years we worked with her as CFO we
were consistently impressed with her intelligence and integrity, and we
know that she will bring those qualities to the Board. We will continue
to benefit from Mike's investment insights as Co-CIO of EFC and CEO of
our manager. Just as importantly, Mike sets the tone at the top that
encourages the thoughtfulness and integrity of Ellington's people and
processes."

"Lisa's intimate knowledge of EFC and substantial experience in the
financial services industry make her the ideal fit for our Board. EFC
flourished under Lisa's leadership as CFO, and we will leverage her deep
understanding of the Company and financial accounting, as we continue to
drive the Company forward," said Laurence Penn, Chief Executive Officer
of EFC.

Mr. Vranos added, "I will remain as active as ever in the business as
Co-CIO, and am excited about EFC's current positioning and the
investment opportunities we're seeing. It's great to have Lisa back on
the team, now as a director, whose skillset, business savvy, and
knowledge of EFC will prove invaluable as the Company continues to
evolve."

Ms. Mumford concluded, "Having worked at EFC for nearly a decade, I am
excited to take on this new role as director, working alongside Board
and management team members I not only know well, but also respect
tremendously."

Ms. Mumford served as CFO of EFC from October 2009, seeing the Company
through its initial public offering in 2010, and managing all of the
Company's accounting, internal control, and financial reporting
processes until her retirement in March 2018. Ms. Mumford also
previously served as CFO of Ellington Residential Mortgage REIT (NYSE: EARN) from April 2013 to March 2018.

Prior to joining Ellington, Ms. Mumford served as CFO of ACA Financial
Guaranty Corporation. Previously, she was Chief Accounting Officer of
ACA Capital Holdings, Inc., and before that was CFO and Controller of
ACE Guaranty Corp. She began her career at Coopers & Lybrand in 1984.
Ms. Mumford is a member of the American Institute of Certified Public
Accountants and holds a B.B.A. in Accounting from Hofstra University.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
numerous risks and uncertainties. Our actual results may differ from our
beliefs, expectations, estimates, and projections and, consequently, you
should not rely on these forward-looking statements as predictions of
future events. Forward-looking statements are not historical in nature
and can be identified by words such as "anticipate," "estimate," "will,"
"should," "may," "expect," "project," "believe," "intend," "seek,"
"plan" and similar expressions or their negative forms, or by references
to strategy, plans, or intentions. The Company's results can fluctuate
from month to month depending on a variety of factors, some of which are
beyond the Company's control and/or are difficult to predict, including,
without limitation, changes in interest rates, changes in mortgage
default rates and prepayment rates, and other changes in market
conditions and economic trends. Furthermore, forward-looking statements
are subject to risks and uncertainties, including, among other things,
those described under Item 1A of our Annual Report on Form 10-K filed on
March 15, 2018, which can be accessed through the link to our SEC
filings under "For Our Shareholders" on our website (
www.ellingtonfinancial.com)
or at the SEC's website (
www.sec.gov).
Other risks, uncertainties, and factors that could cause actual results
to differ materially from those projected may be described from time to
time in reports we file with the SEC, including reports on Forms 10-Q,
10-K and 8-K. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.

About Ellington Financial LLC

Ellington Financial LLC is a specialty finance company that invests in a
diverse array of financial assets, including residential and commercial
mortgage-backed securities, residential and commercial mortgage loans,
consumer loans and asset-backed securities backed by consumer loans,
collateralized loan obligations, corporate equity and debt securities
(including distressed debt), non-mortgage and mortgage-related
derivatives, equity investments in mortgage-related entities, and other
strategic investments. Ellington Financial LLC is externally managed and
advised by Ellington Financial Management LLC, an affiliate of Ellington
Management Group, L.L.C.

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