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Mr. Fortescue is a Managing Director for Annaly and FIDAC. He started with FIDAC in June of 1995 where he was in charge of finding financing on mortgage-backed and corporate bonds for regional dealers. In September of 1996 he expanded his responsibilities for all financing activities which included trading and structuring all liabilities coordinating trade settlements with broker dealers and maintaining the relationships with these dealers. Mr. Fortescue has been in charge of liability management for Annaly since its inception and continues to trade and oversee all financing activities for FIDAC. Mr. Fortescue and Mrs. Fagan co-head the credit relationships for Annaly and FIDAC. Mr. Fortescue holds a Bachelors Degree in Finance from Siena College and has attended the New York Institute of Finance for intense mortgage-backed securities studies. | 