Thornburg Mortgage announced today that Stacey Cost has been appointed vice president and senior marketing director for Thornburg Mortgage Inc.'s mortgage lending division.

She joins Thornburg Mortgage from HomeBanc Mortgage Corp. ("HBMC"), a $6.0 billion retail residential mortgage originator in the Southeast, where she served as the chief marketing officer and managed all facets of market research, advertising, public relations and communications. Cost joined HBMC as a senior vice president in 2000 and was promoted to executive vice president and chief marketing officer in 2001. Prior to joining HBMC, Cost was with BellSouth Cellular Corp., where she served most recently as executive director of marketing. During her 14-year tenure at BellSouth, Cost managed numerous areas including marketing information, marketing and sales analysis, and new business development. In 1998 she assumed the role of executive director of marketing.

Commenting on the appointment, Joe Badal, senior vice president, said, "We are extremely pleased that Stacey has joined our team. Her vast experience should prove valuable as we formulate and execute our marketing plan and work toward building brand awareness on a national level."

Thornburg Mortgage is a single-family residential mortgage lender focused principally on the jumbo segment of the mortgage market. Backed by a sizeable balance sheet of $26.4 billion in assets, the company seeks to deliver attractive dividend income and steady growth for its shareholders through the acquisition and origination of high credit quality adjustable-rate mortgage assets. Capitalizing on its innovative lending model and REIT tax structure, Thornburg Mortgage is an efficient provider of specialized mortgage loan products for borrowers with excellent credit, and is positioned to become one of the top 50 mortgage lenders in the country. We invite you to visit the company's Web site at www.thornburgmortgage.com.