Glancy Binkow & Goldberg LLP, Representing Preferred Shareholders of Thornburg Mortgage, Inc., Announces Class Action Lawsuit an

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
The Market Age	LSE:TMA	London	Ordinary Share	GB0009256867	ORD 1P

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LOS ANGELES, Oct. 28 /PRNewswire/ -- Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a Class Action lawsuit in the United States District Court for the District of New Mexico on behalf of a class (the "Class") consisting of all those persons who tendered shares of Thornburg Series C, D, E or F Preferred Stock of Thornburg Mortgage, Inc. ("Thornburg" or the "Company") (NYSE: TMA; TMA-PC; TMA-PD; TMA-PE; TMA-PF) pursuant to the Tender Offer originally launched on July 23, 2008, and the definitive proxy statement filed with the Securities and Exchange Commission and disseminated to shareholders that same day (the "Proxy"). A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at , or visit our website at http://www.glancylaw.com/. The Complaint charges Thornburg, the Company's Board of Directors (the "Board"), MP TMAC LLC, MP TMA (Cayman) LLC, and MatlinPatterson LLC (d/b/a "MatlinPatterson Global Advisers LLC")(collectively, "MatlinPatterson"), with violations of federal securities laws. Thornburg Mortgage, Inc. operates as a residential mortgage lending company, which originates, acquires and retains investments in adjustable and variable rate mortgage (ARM) assets. The Complaint alleges, among other things, that the Proxy fails to provide shareholders with the following material information: (a) any projections, estimates and/or information concerning Thornburg's future business and financial prospects which would allow shareholders to make an informed decision as to whether to tender their shares in the Tender Offer; (b) any projections, estimates and/or information which would allow shareholders to evaluate any strategic alternative to the Tender Offer; (c) any projections or estimates which would allow shareholders to evaluate the impact of a potential bankruptcy on the Company and its preferred shareholders who have the right to a $25.00 per share liquidation preference; (d) any information regarding the viability of any strategic alternatives which the Board considered and/or information relied upon relating to those alternatives; (e) any information concerning the potential or actual conflicts between and among members of the Board, Thornburg and MatlinPatterson and the other parties to an agreement with MatlinPatterson, pursuant to which MatlinPatterson would lend Thornburg approximately $1.35 billion at an initial interest rate of 18% per annum (the "Agreement"); (f) any information, analysis, valuation, projections and/or estimates prepared by, or opinion rendered by, any financial advisor at the behest of the Board concerning the Tender Offer, the Agreement, or any strategic alternative considered by the Board. The Complaint further alleges that the Thornburg Board has placed its own self-interest above those of Thornburg's shareholders by: (a) agreeing to sell 90% of the Company to MatlinPatterson in return for grossly inadequate consideration in the form of a risk-free loan of approximately $1.3 billion; and (b) launching a coercive tender offer aimed at eliminating the Company's preferred shareholders, simultaneously diluting and devaluing the common shares held by public shareholders. Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud. If you are a member of the Class described above, you may move the Court, no later than 60 days from the date of this Notice, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to . DATASOURCE: Glancy Binkow & Goldberg LLP CONTACT: Lionel Z. Glancy or Michael Goldberg, both of Glancy Binkow & Goldberg LLP, +1-310-201-9150 or 1-888-773-9224, Web site: http://www.glancylaw.com/

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