Subject: Thanks for taking the time to meet with us last week

October 6, 2008

On behalf of the MFA Regulatory Committee, I express our appreciation for taking the time during a very challenging week to meet with us. As we indicated in our meeting, we are interested and willing to continue our communications going forward. We sincerely appreciate the difficulties of the current markets. We will continue to offer suggestions from an investor prospective. We are particularly interested in further discussions prior to the release of the proposed short sale rulemaking regarding, among other issues, reporting requirements, alternatives to short sale sector bans, being able to hedge and following a REG SHO framework, including expansion of a hard T + 3 buy-in period.

I am currently a member of SAC Capital Advisors firm management committee and its Chief Compliance Officer. Prior to joining SAC, I was a member of the legal department of Goldman, Sachs & Co. I am interested in promoting an expansion of dialogue between the public and private sectors regarding important market issues.

I also would like to personally invite you to come to our main office in Stamford, CT to meet with several senior managers at SAC and tour our trading facilities.

You are welcome to contact me directly to visit SAC as well as for me to arrange a discussion with the MFA Regulatory Committee regarding important market issues.

Send my regards to Jule.