Opteum Financial Services, LLC Changes Name to Orchid Island TRS, LLC
July 05 2007 - 5:00PM
Business Wire
Opteum Inc. (NYSE:OPX) (�Opteum� or the �Company�), a real estate
investment trust (�REIT�), today announced that its majority-owned
subsidiary, Opteum Financial Services, LLC, a Delaware limited
liability company, has changed its name to Orchid Island TRS, LLC,
effective July 3, 2007, as required by that certain First Amendment
to Purchase Agreement, dated June�30, 2007, by and among
Metrocities Mortgage, LLC � Opteum Division, Opteum Financial
Services, LLC and Opteum Inc. About Opteum Opteum Inc. is a REIT
that invests primarily in, but is not limited to, residential
mortgage-related securities issued by the Federal National Mortgage
Association (Fannie Mae), the Federal Home Loan Mortgage
Corporation (Freddie Mac) and the Government National Mortgage
Association (Ginnie Mae). It attempts to earn returns on the spread
between the yield on its assets and its costs, including the
interest expense on the funds it borrows. Statements herein
relating to matters that are not historical facts are
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. The reader is cautioned that such
forward-looking statements are based on information available at
the time and on management's good faith belief with respect to
future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed in such forward-looking statements. Important
factors that could cause such differences are described in Opteum
Inc.'s filings with the Securities and Exchange Commission,
including Opteum Inc.'s most recent Annual Report on Form 10-K or
Quarterly Report on Form 10-Q. Opteum Inc. assumes no obligation to
update forward-looking statements to reflect subsequent results,
changes in assumptions or changes in other factors affecting
forward-looking statements.
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