The Board of Directors of Hatteras Financial Corp. (NYSE: HTS) (“Hatteras” or the “Company”) today declared a quarterly dividend of $1.15 per common share for the third quarter of 2009. The dividend will be paid on October 23, 2009, to stockholders of record on October 2, 2009, with an ex-dividend date of September 30, 2009.

“We are pleased to announce an increase in our quarterly dividend,” said Michael R. Hough, Chairman and Chief Executive Officer of Hatteras. “The fundamentals of the Hatteras strategy remained favorable in the third quarter and we continued to position the company conservatively.”

For a review of the Company’s expected remaining 2009 dividend declaration dates, please visit the event calendar section of the corporate web site at www.hatfin.com.

Additionally, the Company announced that current Director Jeffrey D. Miller has been appointed Lead Independent Director by the Company’s Board of Directors, effective immediately.

"I want to welcome Jeff to his new role as Lead Independent Director for Hatteras. His familiarity with the company, his considerable REIT experience, and his commitment to best practices in corporate governance make him an excellent choice for this important role," said Mr. Hough.

As Lead Independent Director, Mr. Miller will chair executive sessions of the board, approve board meeting agendas and serve as a liaison with Chairman and CEO Michael Hough.

Mr. Miller has been a member of the Company’s board of directors since November 2007. Since March 2007, he has served as vice president, general counsel and secretary of Highwoods Properties, Inc. Prior to joining Highwoods Properties, Inc., Mr. Miller was a partner with the law firm of DLA Piper US LLP where he concentrated his practice on securities, corporate governance and related strategic matters, and served as general outside counsel to a variety of publicly-traded REITs. Prior to that, Mr. Miller was a partner with the law firm of Alston & Bird LLP. Mr. Miller holds a B.A. from Pennsylvania State University and a J.D. and M.B.A. from Wake Forest University.

Details of the Company’s corporate governance procedures and profiles of the members of the Company’s board of directors can be found under the heading "Corporate Overview" and its various sub-headings in the Investor Relations section of Hatteras’ website.

About Hatteras Financial Corp.

Hatteras Financial is a real estate investment trust formed in 2007 to invest in adjustable-rate and hybrid adjustable-rate single-family residential mortgage pass-through securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. Based in Winston-Salem, N.C., Hatteras is managed and advised by Atlantic Capital Advisors LLC. Hatteras is a component of the Russell 2000^® and the Russell 3000^® indices.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project" or similar expressions. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company's control and which could materially affect actual results, performances or achievements. Factors that may cause actual results to differ materially from current expectations include the risk factors discussed in the Company’s 2008 Annual Report on Form 10-K. Accordingly, there is no assurance that the Company's expectations will be realized. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.