AG Mortgage Investment Trust, Inc. is a newly formed Maryland corporation that will invest in, acquire and manage a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets.

Over time, we expect our portfolio will focus on residential mortgage-backed securities, that are not issued or guaranteed by a U.S. government agency or a U.S. government-sponsored entity, or non-Agency residential mortgage-backed securities. Our non-Agency residential mortgage-backed securities investments are expected to include fixed- and floating-rate securities, including investment grade (AAA through BBB) and non investment grade (BB and below). Initially, however, we intend to invest significant proceeds from the offering in residential mortgage-backed securities for which a U.S. government agency such as the Government National Mortgage Association, or Ginnie Mae, or a federally-chartered corporation such as the Federal National Mortgage Association, or Fannie Mae, or the Federal Home Loan Mortgage Corporation, or Freddie Mac, guarantees payments of principal and interest on the securities. We refer to these securities as Agency residential mortgage-backed securities. Our Agency residential mortgage-backed securities investments are expected to include mortgage passthrough securities and may include collateralized mortgage obligations, or CMOs. Over time, we expect to transition our portfolio from Agency residential mortgage-backed securities to non-Agency residential mortgage-backed securities. We will also have the discretion to invest in other target assets, including commercial mortgage-backed securities, residential and commercial mortgage loans and asset-backed securities.

We will be externally managed by AG REIT Management, LLC, or our Manager, a newly formed subsidiary of Angelo, Gordon & Co., L.P., or Angelo, Gordon, and we expect to benefit from the personnel, relationships and experience of our Manager's executive team and other personnel of Angelo, Gordon. Angelo, Gordon, is a privately-held, SEC-registered investment adviser with approximately $23 billion under management as of December 31, 2010. Angelo, Gordon specializes in alternative investment activities for over 1,000 institutional and high net worth clients. Angelo, Gordon's investment focus centers on three core competencies-credit, real estate and private equity. Its investment philosophy combines fundamental in-depth research, conservative valuation approach and diversification. We believe the Angelo, Gordon platform, with extensive experience in residential mortgage-backed securities, combined with extensive experience in commercial mortgage-backed securities, asset-backed securities, commercial real estate, net lease real estate, distressed credit, leveraged loans and private equity, will enable us to selectively acquire assets to construct a diversified investment portfolio of target assets designed to produce attractive risk-adjusted returns through a combination of dividends and capital appreciation across a variety of market conditions and economic cycles. We intend to use debt financing to increase potential returns to our stockholders and to help fund the acquisition of
our target assets.