TMA Thornburg Mtg

Thornburg Mortgage, Inc. (NYSE:TMA), announced today that it has successfully completed the Exchange Offer and Consent Solicitation for all series of its outstanding preferred stock that expired on November 19, 2008. Shareholders who participated in the Exchange Offer and Consent Solicitation received 3 shares of the company�s common stock for each share of preferred stock validly tendered and accepted. The company issued 126,260,109 shares of common stock on November 21, 2008 in exchange for validly tendered shares of 95.6% of its outstanding preferred stock. In addition, on November 20, 2008, the company filed amendments to its Charter to modify the terms of each series of preferred stock. As a result of the completion of the Exchange Offer and Consent Solicitation, the preferred stock no longer meets the continued listing criteria under the New York Stock Exchange (the �NYSE�) Listing Company Manual. The NYSE issued a press release on November 20, 2008 announcing that trading in all series of preferred stock would be suspended on November 20, 2008 and that suspension and delisting procedures would begin promptly. The company does not intend to list the preferred stock on any other national securities exchange. The remaining preferred stock may be traded on over-the-counter (OTC) markets. Thornburg Mortgage is a leading single-family residential mortgage lender focused principally on prime and super-prime borrowers seeking jumbo and super-jumbo adjustable-rate mortgages.