ARMOUR Brings on New Board Member, Appoints COO

In Florida, ""ARMOUR Residential REIT, Inc."":http://www.armourreit.com/index.html, announced the appointment of Carolyn Downey as a new independent member of the company's board of directors.

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Downey has two and a half decades of institutional capital markets experience. She worked for nearly 20 years as managing director at RBS Greenwich Capital, where she was responsible for relationships with real estate investment trusts (REITs), financial institutions, hedge funds, investment managers, and proprietary trading [COLUMN_BREAK]

desks. Prior to that, she was a VP of fixed income sales at Salomon, Inc., where she oversaw residual product placement and equity tranches of structured debt from mortgage originators.

With her appointment, ARMOUR expects to regain compliance with the New York Stock Exchange's Listed Company Manual, which requires a majority of independent directors on a company's board. In addition to joining the board, Downey as also been appointed as a member of the Nominating and Corporate Governance Committee.

At the same time, ARMOUR also appointed Mark Gruber, head of portfolio management, to the additional post of COO.

Before joining ARMOUR, Gruber managed a $1.1 billion mortgage portfolio for Penn Mutual Life Insurance. Prior to that, he was VP of research and trading at Bimini Capital Management, Inc., a publicly traded REIT that managed $4 billion in agency mortgage assets. He also previously worked for Lockheed Martin at the Knolls Atomic Power Laboratory, where he was an engineer for the Naval Nuclear Propulsion Program.