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CAPSTEAD MORTGAGE ANNOUNCES TWO CMOs TOTALING $400 MILLION

 CAPSTEAD MORTGAGE ANNOUNCES TWO CMOs TOTALING $400 MILLION
 DALLAS, April 28 /PRNewswire/ -- Capstead Mortgage Corporation (NYSE: CMO) announced today that it recently priced two collateralized mortgage obligations ("CMOs") totaling $400 million.
 One CMO of $200 million (Series 1992-VIII) was priced April 15, 1992 and will be collateralized by the company's portfolio of 5/25 jumbo first mortgage loans. Interest rates on the collateral are fixed for approximately five years, after which a one-time adjustment is made to reset the interest rate for the remaining 25 years. On April 23, 1992 the company priced a $200 million CMO (Series 1992-IX) with $100 million each of the company's six-month LIBOR and one-year U.S. Treasury adjustable-rate mortgage loans as collateral. These two CMOs are expected to close at the end of June. These transactions will bring the total amount of CMOs issued in 1992 to $2.250 billion.
 In commenting on these two transactions, Ronn Lytle, president, said: "These two CMOs were each very profitable and will benefit the company for several years from the interest spread earned on the mortgage collateral over the interest expense to be paid on the CMO indebtedness."
 "Purchase volume continues to be strong in the second quarter. Based on purchases to date and recent commitments, it appears that volume in the second quarter may exceed the $1.424 billion purchased in the first quarter," he added.
 Capstead Mortgage Corporation invests in long-term, single-family residential mortgages for the purpose of offering investors the opportunity to participate in the income generated from the management of a portfolio of mortgage loans utilizing pooling and the issuance of CMOs and other portfolio strategies. It is managed by Capstead Advisers, a subsidiary of Lomas Mortgage USA.
 -0- 4/28/92
 /CONTACT: Ronn K. Lytle, 214-746-8231, or Andrew F. Jacobs, 214-746-8240, both of Capstead Mortgage/
 (CMO) CO: Capstead Mortgage Corporation ST: Texas IN: FIN SU:


TQ -- NY061 -- 3716 04/28/92 11:20 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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