X0202 3 2005-03-03 0 0001043219 ANNALY MORTGAGE MANAGEMENT INC NLY 0001319285 Kazel Ronald Daniel 1211 AVENUE OF THE AMERICAS, SUITE 2902 NEW YORK NY 10036 0 1 0 0 Exec VP Common Stock 30222.15 D Common Stock 813.80 I By 401(k) plan Common Stock 707.68 I By wife Employee Stock Option (right to buy) 17.97 2013-08-04 Common Stock 15000 D Employee Stock Option (right to buy) 17.39 2014-04-19 Common Stock 20000 D The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose. The option for 20,000 shares became exercisable as to 5,000 shares on August 4, 2004, and becomes exercisable as to 5,000 additional shares on each of August 4, 2005, August 4, 2006 and August 4, 2007. The option becomes exercisable as to 5,000 shares on each of April 19, 2005, April 19, 2006, April 19, 2007 and April 19, 2008. /s/ Ronald D. Kazel 2005-03-07