Luminent Mortgage Capital, Inc. Files 2007 Third Quarter Form 10-Q

SAN FRANCISCO, Dec. 27  /PRNewswire-FirstCall/ -- Luminent Mortgage Capital, Inc. (NYSE:LUM) filed its 2007 third quarter Form 10-Q on Thursday, December 27, 2007. As announced on November 12, 2007, The Company's filing was delayed due to a change in its independent registered public accounting firm and additional time was needed to allow the new accounting firm, Grant Thornton LLP, to complete their review procedures.  This filing can be found on Luminent's website at: http://www.luminetcapital.com/.

This news release and Luminent's filings with the Securities and Exchange Commission contain forward-looking statements that predict or describe future events or trends.  The matters described in these forward-looking statements are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Luminent's control and are based on the information currently available to Luminent's management.  Luminent faces many risks that could cause its actual performance to differ materially from the results expressed or implied by its forward-looking statements, including, without limitation, the possibilities that interest rates may change, that principal payment rates may change, that Luminent may experience unanticipated margin calls, that the collateral securing its indebtedness may become illiquid with a resulting drop in value, that Luminent may not be able to maintain its qualification as a REIT for federal income tax purposes, that Luminent may experience the risks associated with investing in real estate, including changes in business conditions and the general economy, and that Luminent's strategies may not be effective (including portfolio management and hedging strategies and strategy to protect net interest spreads).  Luminent's filings with the Securities and Exchange Commission contain a more complete description of these and many other risks to which Luminent is subject. Because of those risks, Luminent's actual results, performance or financial condition may differ materially from the results, performance or financial condition contemplated by its forward-looking statements.  The information set forth in this news release represents management's current expectations and intentions.  Luminent assumes no responsibility to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

   Contact:
   Christopher J. Zyda
   Senior Vice President &
   Chief Financial Officer
   Phone:  [phone]
   Email:  

DATASOURCE: Luminent Mortgage Capital, Inc.



CONTACT:  Christopher J. Zyda, Senior Vice President, Chief Financial

Officer of Luminent Mortgage Capital, Inc., [phone],





Web site:  http://www.luminentcapital.com/ 

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