Capstead Mortgage Corporation Schedules First Quarter 2007 Earnings Release and Conference Call.

DALLAS -- Capstead Mortgage Corporation (NYSE: CMO) announced today that it will release its first quarter 2007 results following the close of trading on the New York Stock Exchange on Thursday, May 3, 2007. The Company will host a conference call and audio web cast to discuss the financial results on Friday, May 4, 2007 at 11:00 a.m. EDT.

The conference call may be accessed by dialing toll free [phone] in the U.S. and Canada or [phone] for international callers. The replay will be available through Friday, May 18, 2007 at 11:59 p.m. and can be accessed by dialing toll free [phone] in the U.S. and Canada or [phone] for international callers and entering account number 286 and conference ID 239174.

A live audio web cast of the conference call can be accessed in the investor relations section of www.capstead.com or at www.investorcalendar.com. Please allow extra time prior to the call to download and install any needed audio software. An audio archive of the web cast will be available for approximately 60 days on the presentations page of the investor relations section of the Company's website at www.capstead.com.

About Capstead

Capstead Mortgage Corporation operates as a real estate investment trust and earns income from investing in real estate-related assets on a leveraged basis. These investments currently consist primarily of residential adjustable-rate mortgage securities issued and guaranteed by government-sponsored entities, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae. Capstead also seeks to opportunistically invest a portion of its investment capital in credit-sensitive commercial real estate-related assets, including subordinate commercial real estate loans.

Forward-looking Statements

This document contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) that inherently involve risks and uncertainties. Capstead's actual results and liquidity can differ materially from those anticipated in these forward-looking statements because of changes in the level and composition of the Company's investments and unforeseen factors. As discussed in the Company's filings with the Securities and Exchange Commission, these factors may include, but are not limited to, changes in general economic conditions, the availability of suitable qualifying investments from both an investment return and regulatory perspective, the availability of new investment capital, fluctuations in interest rates and levels of mortgage prepayments, deterioration in credit quality and ratings, the effectiveness of risk management strategies, the impact of leverage, liquidity of secondary markets and credit markets, increases in costs and other general competitive factors. In addition to the above considerations, actual results and liquidity related to investments in loans secured by commercial real estate are affected by borrower performance under operating and/or development plans, lessee performance under lease agreements, changes in general as well as local economic conditions and real estate markets, increases in competition and inflationary pressures, changes in the tax and regulatory environment including zoning and environmental laws, uninsured losses or losses in excess of insurance limits and the availability of adequate insurance coverage at reasonable costs, among other factors.