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CAPSTEAD MORTGAGE CORPORATION ANNOUNCES FINAL DETAILS OF SERIES B PREFERRED STOCK

 DALLAS, Nov. 24 ~PRNewswire~ -- Capstead Mortgage Corporation (NYSE: CMO) ("Capstead") announced today that the Capstead $1.26 Cumulative Convertible Preferred Stock, Series B, (the "Series B Preferred Stock") to be issued in connection with the proposed merger of Tyler Cabot Mortgage Securities Fund, Inc. (NYSE: TMF) ("Tyler Cabot") with and into Capstead, will have a liquidation preference of $11.38 per share and will be convertible, at the option of the holder, into Capstead common stock at a conversion ratio of .3196 shares of Capstead common stock for each share of Series B Preferred Stock.
 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- 11~24~92
 ~CONTACT: Ronn Lytle, 214-746-8231, or Andy Jacobs, 214-746-8240, both of Capstead Mortgage Corporation~
 (CMO TMF)


CO: Capstead Mortgage Corporation; Taylor Cabot Mortgage Securities ST: Texas IN: FIN SU:

TM -- NY070 -- 1219 11~24~92 16:08 EST
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Publication:PR Newswire
Date:Nov 24, 1992
Words:191
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