Ellington Financial Announces Dividend of $0.41 Per Share

Ellington Financial LLC (NYSE: EFC) ("Ellington Financial" or the
"Company") today announced that its Board of Directors has declared a
dividend of $0.41 per share, payable on March 15, 2019 to shareholders
of record as of March 1, 2019. This dividend, together with any other
2019 dividends, will be taxable to shareholders to the extent of the
Company’s 2019 earnings and profits, and reported on a Form 1099-DIV to
shareholders. As announced on February 13, 2019, the Company plans to
elect to be taxed as a REIT for U.S. federal income tax purposes for the
taxable year ending December 31, 2019.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
numerous risks and uncertainties. Our actual results may differ from our
beliefs, expectations, estimates, and projections and, consequently, you
should not rely on these forward-looking statements as predictions of
future events. Forward-looking statements are not historical in nature
and can be identified by words such as "believe," "expect,"
"anticipate," "estimate," "project," "plan," "continue," "intend,"
"should," "would," "could," "goal," "objective," "will," "may," "seek"
or similar expressions or their negative forms, or by references to
strategy, plans, or intentions. Examples of forward-looking statements
in this press release include statements regarding the Company's
intended dividend policy and schedule, and tax reporting. The Company's
results can fluctuate from month to month and from quarter to quarter
depending on a variety of factors, some of which are beyond the
Company's control and/or are difficult to predict, including, without
limitation, changes in interest rates and the market value of the
Company's securities, changes in mortgage default rates and prepayment
rates, the Company's ability to borrow to finance its assets, changes in
government regulations affecting the Company's business, the Company's
ability to maintain its exclusion from registration under the Investment
Company Act of 1940, the Company’s ability to qualify and maintain its
qualification as a real estate investment trust, or "REIT," and other
changes in market conditions and economic trends. Furthermore,
forward-looking statements are subject to risks and uncertainties,
including, among other things, those described under Item 1A of our
Annual Report on Form 10-K filed on March 15, 2018, which can be
accessed through the Company's website at www.ellingtonfinancial.com
or at the SEC's website (www.sec.gov).
Other risks, uncertainties, and factors that could cause actual results
to differ materially from those projected may be described from time to
time in reports we file with the SEC, including reports on Forms 10-Q,
10-K and 8-K. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.

About Ellington Financial

Ellington Financial invests in a diverse array of financial assets,
including residential and commercial mortgage-backed securities,
residential and commercial mortgage loans, consumer loans and
asset-backed securities backed by consumer loans, collateralized loan
obligations, non-mortgage and mortgage-related derivatives, equity
investments in loan origination companies, and other strategic
investments. Ellington Financial is externally managed and advised by
Ellington Financial Management LLC, an affiliate of Ellington Management
Group, L.L.C.

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