REDWOOD
ANNOUNCES TIMING OF SECOND QUARTER 2007
EARNINGS
RELEASE AND AN UPDATE ON LIQUIDITY
Mill
Valley, CA - August 1, 2007
Redwood
Trust, Inc. (NYSE: RWT) is scheduled to announce its second quarter 2007
earnings on Wednesday, August 8, 2007 after the close of the market. The
news
release will be available online at www.redwoodtrust.com.
As is
our practice, we plan to file our Form 10-Q with the Securities and Exchange
Commission and release the Redwood Review at that time.
With
respect to Redwood’s liquidity position, Martin S. Hughes, Chief Financial
Officer, noted, “As of today, we have $225 million in cash. Our portfolio of
unsecuritized prime residential loans is $195 million and we have $330 million
of AAA-rated prime residential securities. Total short-term borrowings against
these assets are $466 million.” Mr. Hughes added, “We have no other short-term
borrowings against any loans or securities.”
For
more
information about Redwood Trust, Inc., please visit our website at: www.redwoodtrust.com.
CAUTIONARY
STATEMENT: This press release contains forward-looking statements within
the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995.
Statements that are not historical in nature, including the words "anticipated,"
"estimated," "should," "expect," "believe," "intend," and similar expressions,
are intended to identify forward-looking statements. These forward-looking
statements are subject to risks and uncertainties, including, among other
things, those described in our 2006 Annual Report on Form 10-K under Item
1A
"Risk Factors." Other risks, uncertainties, and factors that could cause
actual
results to differ materially from those projected are detailed from time
to time
in reports filed by us with the Securities and Exchange Commission, including
Forms 10-K, 10-Q, and 8-K. Important factors that may impact our actual results
include changes in interest rates and market values; changes in prepayment
rates; general economic conditions, particularly as they affect the price
of
earning assets and the credit status of borrowers; the level of liquidity
in the
capital markets as it affects our ability to finance our real estate asset
portfolio; and other factors not presently identified. In light of these
risks,
uncertainties, and assumptions, the forward-looking events mentioned in,
discussed in, or incorporated by reference into this press release might
not
occur. Accordingly, our actual results may differ from our current expectations,
estimates, and projections. We undertake no obligation to publicly update
or
revise any forward-looking statements, whether as a result of new information,
future events, or otherwise.
