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Redwood Trust, Inc. Announces Its First Quarter 2005 Dividend, Increasing Its Regular Quarterly Dividend Rate from $0.67 to $0.70 Per Share

Friday, March 18, 2005

MILL VALLEY, Calif.--(BUSINESS WIRE)--March 18, 2005--Redwood Trust, Inc. (NYSE:RWT), a financial institution that invests in, credit-enhances, and securitizes residential and commercial real estate loans and securities, today announced that its Board of Directors authorized the declaration of a first quarter regular dividend of $0.70 per share, representing a 4% increase from Redwood's 2004 regular dividend rate of $0.67 per share per quarter. The first quarter 2005 dividend is payable on April 21, 2005 to stockholders of record on March 31, 2005.

"We are pleased to announce this new $0.70 per share dividend rate," said George Bull, Redwood's Chairman and CEO. "Given the strength and growth of our business model, we feel confident in our ability to sustain this increase."

Redwood also announced that its Board of Directors has set May 5, 2005 as the date for the annual meeting of stockholders. The meeting will be held at 11:00 a.m. in Mill Valley, California. Stockholders of record as of March 31, 2005 will be entitled to vote at that meeting.

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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 Annual Report on Form 10-K under the caption "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, or SEC, including Forms 10-Q and 8-K.

We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In light of these risks, uncertainties, and assumptions, the forward-looking events mentioned, or discussed in, this press release might not occur. Accordingly, our actual results may differ from our current expectations, estimates, and projections.

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. For a discussion of risk factors, readers should review the section of our Annual Report on Form 10-K entitled "Risk Factors." This press release contains statistics and other data that in some cases have been obtained from, or compiled from information made available, by servicers and other third-party service providers.

    CONTACT: Redwood Trust, Inc.
             Harold Zagunis or Nicole Klock, 415-389-7373

    SOURCE: Redwood Trust, Inc.

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