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Redwood Trust, Inc. Declares a $0.70 Per Share Dividend for the First Quarter of 2006

Friday, March 10, 2006

MILL VALLEY, Calif.--(BUSINESS WIRE)--March 10, 2006--Redwood Trust, Inc. (NYSE:RWT) today announced that its Board of Directors authorized the declaration of a first quarter regular dividend of $0.70 per share. The first quarter 2006 dividend is payable on April 21, 2006 to stockholders of record on March 31, 2006.

"We are pleased to declare another regular dividend this quarter of $0.70 per share," said George Bull, Redwood's Chairman and CEO. "We intend to maintain our regular dividend rate at a conservative level so that shareholders can reasonably depend on it in the future."

Redwood also announced that its Board of Directors has set May 11, 2006 as the date for the annual meeting of stockholders. The meeting will be held at 10:30 a.m. in Mill Valley, California. Stockholders of record as of March 31, 2006 will be entitled to vote at that meeting.

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 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-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 or discussed in 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.

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

    SOURCE: Redwood Trust, Inc.

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