July 29, 2009

NEW YORK, July 29 /PRNewswire-FirstCall/ — Enterprise Acquisition Corp. (“Enterprise”) (NYSE Alternext US: EST), a public investment vehicle, and ARMOUR Residential REIT, Inc., a Maryland corporation (“ARMOUR”), announced today that they have signed an agreement and plan of merger pursuant to which Enterprise will merge with a wholly-owned subsidiary of ARMOUR. ARMOUR intends to invest, on a leveraged basis, primarily in adjustable-rate, hybrid adjustable-rate, and fixed rate residential mortgage-backed securities issued or guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Government National Mortgage Administration (collectively, “Agency Securities”).
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