Press 5-6-10

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Two Harbors Investment Corp. Announces Exercise of Underwriters’ Over-Allotment Option

NEW YORK, May 06, 2010 – Two Harbors Investment Corp. (“Two Harbors”) (NYSE Amex: TWO; TWO.WS) today announced that the underwriters of its public offering of 11.5 million shares of the Company’s common stock that closed on April 26, 2010 have exercised their over-allotment option in part and have purchased an additional 1,188,381 shares.

Two Harbors received proceeds of approximately $10 million from the sale of the additional shares, net of additional underwriting discounts and commissions paid to the underwriters. After giving effect to the partial exercise of the over-allotment option, Two Harbors sold a total of approximately 12.7 million shares of common stock in the offering and raised approximately $107 million in net proceeds.

In connection with the offering, Credit Suisse Securities (USA) LLC acted as sole book-runner, Barclays Capital Inc. and JMP Securities LLC acted as joint lead managers, and Ladenburg Thalmann & Co., Inc. served as a co-manager.
A registration statement relating to the offered securities has been declared effective by the Securities and Exchange Commission. Any offer, if at all, will be made only by means of a prospectus forming a part of the effective registration statement. Copies of the final prospectus may be obtained by contacting:

Credit Suisse Securities (USA) LLC
One Madison Avenue
New York, New York 10010
Attention: Prospectus Department

or by calling 1-800-221-1037

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the Company’s securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that focuses on investing in residential mortgage-backed securities. Two Harbors is headquartered in Minnetonka, Minnesota, and is externally managed and advised by PRCM Advisers, LLC, a wholly-owned subsidiary of Pine River Capital Management L.P.

Cautionary Notice Regarding Forward-Looking Statements
This release may include statements and information that constitute “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended, and we intend such forward-looking statements to be covered by the safe harbor provisions therein and are including this statement for purposes of invoking these safe harbor provisions. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, targets, expectations, anticipations, assumptions, estimates, intentions and future performance.

Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. There can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks identified under the captions “Risk Factors,” “Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our public filings with the SEC, which are available on the SEC’s website at www.sec.gov.

All written or oral forward-looking statements that we make, or that are attributable to us, are expressly qualified by this cautionary notice. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate.

Contact
Anh Huynh, Investor Relations, Two Harbors Investment Corp., 612-238-3348.

 

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