Last Date Revised: 09/24/07

These Terms and Conditions (“Terms”) govern your visit to the Crystal River Capital, Inc. ("Crystal River") website (the “Site”). YOUR ACCESS TO OR USE OF THIS SITE SIGNIFIES YOUR ACCEPTANCE OF THESE TERMS. Crystal River may modify these Terms at any time, and such modification shall be effective immediately upon posting on the Site. Your continued access or use of the Site after the modifications have become effective shall be deemed your conclusive acceptance of the modified Terms. Certain provisions of these terms and conditions may be superseded by other legal notices or terms located on parts of our Site.

License
The contents of our Site, including its “look and feel” (e.g., text, graphics, images, logos, and button icons), editorial content, notices, software (including HTML or XML-based computer programs) and other material, are protected under both United States and foreign copyright, trademark, and other laws. These contents belong or are licensed to Crystal River. We hereby grant you the right to view and use our Site subject to these Terms. You may download or print a copy of information provided in the Site for internal, non-commercial use or distribution only. Permission to reprint or electronically reproduce any document or graphic in whole or in part for any other purpose is expressly prohibited, unless prior written consent is obtained from us.

Links to Our Site
We welcome links to our Site from other websites; however, we in no way operate, control or endorse linking sites, and we reserve the right to disallow any such link at any time in our sole discretion. Should you wish to link to our Site, you must link to our home page, www.crystalriverreit.com.

Your Responsibility
You assume all responsibility for your use of, or access to, this Site, including your access to any Crystal River literature obtained from the Site, and waive all claims or causes of action against Crystal River, its officers, directors, employees, agents and affiliates in connection therewith.

Disclaimer
THIS SITE AND THE INFORMATION IT CONTAINS IS MADE AVAILABLE “AS IS,” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY OR NON-INFRINGEMENT.

WE MAKE NO GUARANTEE THAT THE INFORMATION ON THIS SITE IS UP-TO-DATE, ACCURATE, OR COMPLETE, AND YOU SHOULD NOT RELY ON IT FOR ANY DECISION OR TO TAKE ANY ACTION.

WE HEREBY DISCLAIM ANY WARRANTY THAT THE INFORMATION ON THIS SITE WILL BE FREE OF INTERRUPTION, OR THAT THE SITE IS FREE OF VIRUSES, WORMS, TROJAN HORSES OR OTHER CODE THAT MANIFEST CONTAMINATING OR DESTRUCTIVE PROPERTIES. Changes are periodically made to the information herein; these changes will be incorporated in new editions of the Site.

Limitation of Liability
Crystal River shall not be liable under any circumstances to any party for any direct, indirect, incidental, special, punitive or other consequential damages for any use of this website, including, without limitation, any lost data, lost profits, business interruption, or similar harms arising out of your access or use of, or your inability to access or use, the Site.

No Investment Advice
None of the information on this website constitutes investment advice. In addition, the information on this Site is not an offer to sell, nor a solicitation of an offer to buy, any securities of Crystal River or any other company. As a user of our Site, you are responsible for your own investment activities.

Forward-Looking Statements
Information on our Site contains, includes or is based upon forward-looking statements within the meaning of the federal securities laws, specifically Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements, other than statements of historical fact, that address future activities, events, or developments, including without limitation, business or investment strategy or measures to implement strategy, competitive strengths, goals, expansion and growth of our business, plans, prospects and references to future our success. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Words such as “may,” “will,” “believe,” "anticipate," "estimate," "expect," "project," “continue,” “should,” "intend," "plan," and other similar words are intended to identify there forward-looking statements.

Forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results or outcomes. Consequently, no forward-looking statement can be guaranteed. Our actual results or outcomes may vary materially, and there are no guarantees about the performance of our stock. These risks, uncertainties and factors include, but are not limited to: changes in interest rates, changes in the yield curve, changes in prepayment rates, the effectiveness of our hedging strategies, the availability of mortgage-backed securities and other targeted investments for purchase and origination, the availability and cost of capital for financing future investments and, if available, the terms of any such financing, changes in the market value of our assets, future margin reductions and the availability of liquid assets to post additional collateral, changes in business conditions and the general economy, competition within the specialty finance sector, changes in government regulations affecting our business, our ability to maintain our qualification as a real estate investment trust for federal income tax purposes and other risks disclosed from time to time in our filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on these forward-looking statements.

Indemnity
You agree to indemnify, defend and hold harmless Crystal River, its officers, directors, employees, agents and affiliates from and against all losses, expenses, damages and costs, including reasonable attorneys’ fees, arising out of or relating to any violation of these Terms or any activity related to use of the Site by you or any other person accessing the Site on your behalf.

Privacy
The terms and conditions of our Privacy Policy are hereby made a part of these Terms.

Restricted Access Portions of the Site
You agree to take reasonable measures to ensure that no unauthorized person or entity shall have access to restricted areas of the Site using your user name or password. You agree that, if you are provided rights to access or use restricted areas of the Site, those rights are non-transferable. You may not assign, sublicense, transfer, pledge, lease, rent, or share the user name and password to anyone other than an employee or agent authorized to act on your behalf, and in all cases subject to all of the provisions set forth in these Terms. You assume all responsibility for loss or misuse of your password and are responsible for any activities undertaken by a person in possession of your user name or password under any circumstance except where due solely to the negligence of Crystal River.

Right to Terminate Access
Crystal River reserves the right to terminate your access to the Site, at any time and without penalty, without providing notice or reason for such termination.

Jurisdiction and Governing Law
The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Crystal River to any registration requirement within such jurisdiction or country.

The laws of the State of New York govern these terms and conditions. If you take legal action relating to these terms and conditions, you agree to file such action only in the New York State Supreme Court located in New York, NY, or the United States District Court for the Southern District of New York, and you consent and submit to the personal jurisdiction of those courts for the purpose of litigating any action with Crystal River.

Contacting Us
If you have any questions or concerns about the Terms, please contact us at info@crystalriverreit.com. To inquire about linking to our Site or about trademark or copyright matters, please contact us at info@crystalriverreit.com.