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Redwood Trust, Inc. Declares a $0.70 Per Share Dividend for the Second Quarter of 2005

Friday, May 06, 2005

MILL VALLEY, Calif.--(BUSINESS WIRE)--May 6, 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 second quarter regular dividend of $0.70 per share. The second quarter 2005 dividend is payable on July 21, 2005 to stockholders of record on June 30, 2005.

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

"It is possible we may declare a special dividend in the future," Bull added. "Our Board of Directors reviews a variety of factors, including REIT taxable income for the full tax year, when considering the authorization of special dividends. Our current plan is to consider the possible declaration of a special dividend during the fourth quarter of 2005."

For more information about Redwood Trust, Inc., please visit 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 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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