Capstead Mortgage Corporation Schedules First Quarter 2008 Earnings Release and Conference Call.

DALLAS -- Capstead Mortgage Corporation (NYSE: CMO) announced today that it will release its first quarter 2008 results following the close of trading on the New York Stock Exchange on Thursday, May 1, 2008. The Company will host a conference call and audio web cast to discuss the financial results on Friday, May 2 at 11:00 a.m. EDT.

To access the conference call, dial toll free [phone] in the U.S. and Canada or [phone] for international callers. The replay will be available through Friday, May 16, 2008 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 281238.

A live audio web cast of the conference call can be accessed in the investor relations section of the Company's website at 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 in the investor relations section of the Company's website.

About Capstead

Capstead Mortgage Corporation, formed in 1985 and based in Dallas, Texas, is a self-managed real estate investment trust for federal income tax purposes. Capstead's core strategy is managing a leveraged portfolio of residential mortgage pass-through securities consisting almost exclusively of residential adjustable-rate mortgage, or ARM, securities issued and guaranteed by government-sponsored entities, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae. Agency-guaranteed residential mortgage securities carry an implied AAA credit rating with limited, if any, credit risk. Capstead may also augment its core portfolio with investments in credit-sensitive commercial real estate-related assets.