Arlington Asset Investment Corp. Announces Pricing of Senior Notes Offering

ARLINGTON, Va., April 23, 2013 /PRNewswire/ -- Arlington Asset Investment Corp. (NYSE: AI) (the "Company") announced today that it has priced a "best efforts" underwritten registered public offering of $25 million aggregate principal amount of 6.625% Senior Notes due 2023 (the "Notes") at 100% of the principal amount. MLV & Co. LLC and JMP Securities LLC are acting as joint-bookrunning managers of the offering.  Maxim Group LLC, National Securities Corporation, Northland Capital Markets and Compass Point Research & Trading, LLC are acting as co-managers. The offering is subject to customary closing conditions and is expected to close on Wednesday, May 1, 2013.

The Company expects to use the net proceeds of this offering to acquire certain of the Company's target assets, including residential mortgage-backed securities ("MBS") issued by U.S. government agencies or guaranteed as to principal and interest by U.S. government agencies or U.S. government-sponsored entities and MBS issued by private organizations. The Company may also use the net proceeds for general working capital purposes.

The Notes will be offered under the Company's existing shelf registration statement on Form S-3, which was declared effective by the Securities and Exchange Commission. The offering of these Notes will be made only by means of a prospectus supplement and accompanying base prospectus, which will be filed with the Securities and Exchange Commission. Copies of the prospectus supplement and accompanying base prospectus related to this offering may be obtained by contacting MLV & Co. LLC or JMP Securities LLC at the addresses below:

MLV & Co. LLC
Attention: Randy Billhardt
1251 Avenue of the Americas, 41st Floor
New York, New York 10020
telephone: (212) 542-5882
email: rbillhardt@mlvco.com

JMP Securities LLC
Attn: Prospectus Department
600 Montgomery Street,10th Floor
San Francisco, California 94111

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered Notes or any other securities, nor shall there be any sale of such Notes or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Northland Capital Markets is the trade name for certain equity capital markets and investment banking activities of Northland Securities, Inc., member FINRA/SIPC.

About Arlington Asset Investment Corp.

Arlington Asset Investment Corp. is a principal investment firm that invests in mortgage-related and other assets.  The Company is headquartered in the Washington, D.C. metropolitan area. 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These include statements regarding the Company's planned offering of the Notes.  Forward-looking statements can be identified by forward-looking language, including words such as "believes," "anticipates," "expects," "estimates," "intends," "may," "plans," "projects," "will" and similar expressions, or the negative of these words.  Due to known and unknown risks, including the risk that the assumptions on which the forward-looking statements are based prove to be inaccurate, actual results may differ materially from expectations or projections.  These risks also include those described in the Company's Annual Report on Form 10-K for the year ended December 31, 2012, which has been filed with the Securities and Exchange Commission.  Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements.  The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.

SOURCE Arlington Asset Investment Corp.

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