Deerfield Capital Corp. Announces Results of 2009 Annual Stockholders Meeting

CHICAGO, May 19  /PRNewswire-FirstCall/ -- Deerfield Capital Corp. (NYSE Amex: DFR) (the "Company") today announced the results of its 2009 Annual Stockholders Meeting and the appointment of Stuart Oran to its board of directors (the "Board of Directors").

Results of 2009 Annual Stockholders Meeting

The Company's 2009 Annual Stockholders Meeting was held on May 19, 2009.  The following matters were voted upon and approved at the meeting:

  --  the re-election of Peter H. Rothschild, Robert E. Fischer and Peter W.
      May as Class I directors of the Company to serve until the Annual
      Stockholders Meeting in 2011 and until their successors are duly
      elected or appointed and qualified;
  --  an amendment to the Company's charter to restrict certain acquisitions
      and dispositions of the Company's securities in order to preserve the
      benefit of the Company's net operating losses, net capital losses and
      certain other tax attributes for tax purposes and to remove references
      to the Company's operation as a real estate investment trust as one of
      the purposes of the Company (the "Charter Amendment"); and

  --  the ratification of the appointment of Deloitte & Touche LLP as the
      Company's independent registered public accounting firm for the fiscal
      year ending December 31, 2009.


  Stuart Oran Joins Board of Directors



The Company also announced today that Howard Rubin resigned from the Board of Directors, effective immediately, due to his other time commitments.  The Board of Directors has unanimously chosen Stuart Oran, Managing Member and founder of Roxbury Capital Group LLC, a New York-based merchant banking firm, and a former member of the boards of directors of Wendy's International, Inc. and Polaris Acquisition Corp., to fill the vacancy created by Mr. Rubin's resignation.  Peter Rothschild, Interim Chairman of the Board of Directors, remarked, "We appreciate Howie's many contributions to the Company, especially as we de-levered our mortgage portfolio and converted from a mortgage REIT to a C-corp."  Mr. Rothschild added, "We welcome Stuart Oran to our Board of Directors and are pleased to be able to attract someone with his breadth and depth of experience."

Stockholder Rights Plan Terminated

In connection with the stockholders' approval of the Charter Amendment and the filing of the Charter Amendment with the State of Maryland, the stockholder rights plan put in place by the Board of Directors on March 11, 2009 will expire, and the rights issued thereunder shall cease to be exercisable.

About the Company

Deerfield Capital Corp., through its subsidiary, Deerfield Capital Management LLC, manages client assets, including bank loans and other corporate debt, residential mortgage-backed securities, government securities and asset-backed securities. In addition, Deerfield Capital Corp. has a principal investing portfolio comprised of fixed income investments, including bank loans and other corporate debt and residential mortgage-backed securities.

For more information, please visit our website at http://www.deerfieldcapital.com/. 

DATASOURCE: Deerfield Capital Corp.



CONTACT:  Frank Straub, Chief Financial Officer of Deerfield Capital

Corp., [phone]; or Leslie Loyet of Financial Relations Board,

[phone], for Deerfield Capital Corp.



Web Site:  http://www.deerfieldcapital.com/ 

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