Opteum Inc. Declares $0.05 Third Quarter 2006 Cash Dividend

Opteum Inc. (NYSE:OPX), a real estate investment trust
(REIT) that operates an integrated mortgage-related securities
investment portfolio and mortgage origination platform, today
announced that its Board of Directors has declared a regular quarterly
cash dividend of $0.05 per share on the Company's Class A and Class B
Common Stock for the quarter ending September 30, 2006. The dividend
is payable October 13, 2006, to stockholders of record on September
22, 2006.
   The Board of Directors currently estimates that REIT taxable
earnings for the third quarter of 2006, which excludes operating
results from the Company's taxable REIT subsidiary, Opteum Financial
Services, will be a loss of approximately $0.04 per share of Class A
and Class B Common Stock outstanding. As of September 7, 2006, no REIT
assets have been sold during the third quarter of 2006 and,
accordingly, no capital gains or losses have been recorded for the
REIT during the quarter.
   REIT taxable earnings differ from the Company's consolidated
earnings as computed in accordance with generally accepted accounting
principles ("GAAP"). The Company has included information concerning
its REIT taxable earnings because it is required to annually
distribute as dividends at least 90% of its REIT taxable income in
order to maintain its corporate tax qualification as a REIT.
   The Company currently estimates that Book Value Per Share as of
September 7, 2006, is between $8.70 and $8.85. Book Value Per Share is
regularly used as a valuation metric by various equity analysts that
follow the Company and may be deemed a non-GAAP financial measure
pursuant to Regulation G. The Company computes "Book Value Per Share"
by dividing total stockholders' equity by the total number of shares
of the Company's Class A Common Stock outstanding. An earnings call
will be announced at a later date.

   About Opteum

   Opteum Inc. is a real estate investment trust (REIT), which
operates an integrated mortgage-related investment portfolio and
mortgage origination platform. The REIT 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 earns returns on the spread
between the yield on its assets and its costs, including the interest
expense on the funds it borrows. Opteum's mortgage origination
platform, Opteum Financial Services, originates, buys, sells, and
services residential mortgages from 35 offices throughout the United
States and operates as a taxable REIT subsidiary.
   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.