Opteum Inc. Announces Sale of Additional Mortgage Servicing Rights

  
    
  
  
    
      Opteum Inc. (NYSE:OPX) (“Opteum” 
      or the “Company”), a 
      real estate investment trust (“REIT”), 
      today announced that its majority-owned subsidiary, Orchid Island TRS, 
      LLC (“OITRS”), has 
      entered into a definitive agreement to sell substantially all of its 
      remaining mortgage servicing portfolio. The aggregate unpaid principal 
      balance of the loans underlying the servicing rights sold was 
      approximately $2.97 billion as of June 30, 2007. The sales proceeds will 
      be used to repay debt that is currently secured by OITRS’s 
      mortgage servicing portfolio and for other general corporate purposes. 
      The transaction, which is subject to various closing conditions, is 
      expected to be completed by September 4, 2007. Terms were not disclosed.
    
    
      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). Its objective is 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.