Cypress Sharpridge Investments, Inc. Prices Initial Public Offering.

NEW YORK -- Cypress Sharpridge Investments, Inc. (NYSE: CYS) announced today the pricing of its initial public offering of 9,100,000 shares of common stock at $11.00 per share. The shares will be listed on the New York Stock Exchange under the symbol "CYS." The offering is expected to close on June 17, 2009.

Barclays Capital Inc. is the sole book runner for the offering. JMP Securities LLC and Stifel, Nicolaus & Company, Incorporated are co-lead managers and Oppenheimer & Co. Inc. is a co-manager for the offering. Cypress Sharpridge Investments has granted to the underwriters a 30 day option to purchase up to an additional 1,365,000 shares of common stock to cover over-allotments, if any. All of the shares in the initial public offering are being offered by Cypress Sharpridge Investments, and the proceeds of the offering will be used to invest in Agency RMBS on a leveraged basis.

A registration statement relating to the initial public offering of common stock was declared effective by the U.S. Securities and Exchange Commission on June 11, 2009. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of such common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities will be made only by means of a prospectus, a copy of which may be obtained by contacting Barclays Capital Inc., by mail c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [e-mail] or by telephone at 1 [phone].

About Cypress Sharpridge Investments, Inc.

Cypress Sharpridge Investments, Inc. is a specialty finance company that invests on a leveraged basis exclusively in whole-pool residential mortgage pass-through certificates for which the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. Cypress Sharpridge Investments has elected to be taxed as a real estate investment trust for federal income tax purposes.

Forward Looking Statements

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward looking statements are based upon Cypress Sharpridge Investment's present expectations, but these statements are not guaranteed to occur. For example, because this offering has priced may imply that the offering will close, but the closing is subject to certain conditions customary in transactions of this type and may be delayed or may not occur at all. In addition, the underwriters' over-allotment option may imply that this option will be exercised; however, the underwriters are not under any obligation to exercise this option, or any portion of it, and may not do so. Investors should not place undue reliance upon forward looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the prospectus.