Thornburg Mortgage Announces NYSE Trading Suspension Due to Non-Compliance with Minimum Price Standard

  
    
  
  
    
      Thornburg Mortgage, Inc. (NYSE:TMA), today announced that on December 1, 
      2008, the company was notified by the NYSE Regulation, Inc. ("NYSER") 
      that the NYSER has determined that the company’s common stock should be 
      suspended from trading prior to market opening on Friday, December 5, 
      2008. The company’s common stock price had fallen below the New York 
      Stock Exchange’s (“NYSE”) continued listing standard by having an 
      average closing price of less than $1.00 over a consecutive 30-trading 
      day period in May, 2008 and the company failed to cure this 
      non-compliance within the required six-month period. In addition, the 
      company’s common stock price was under $1.00 at the end of the six-month 
      period.
    
    
      The NYSE will initiate the process of delisting the company's common 
      stock, subject to the completion of applicable procedures, including the 
      company's right to request a review by a committee of the Board of 
      Directors of the NYSER.
    
    
      The company currently does not plan to appeal the ruling however it may 
      make the decision to so within 10 business days after receiving the 
      NYSER notice on December 1, 2008. The company expects that its common 
      stock will be quoted on the OTC Bulletin Board and/or the Pink Sheets 
      following suspension from the NYSE.
    
    
      The delisting from the NYSE does not constitute a default under the 
      company's lending arrangements and will not change the company's filing 
      of periodic and other reports with the Securities and Exchange 
      Commission under applicable federal securities laws.
    
    
      Thornburg Mortgage is a leading single-family residential mortgage 
      lender focused principally on prime and super-prime borrowers seeking 
      jumbo and super-jumbo adjustable-rate mortgages.