NEW YORK, Oct. 22 /PRNewswire/ -- Annaly Mortgage Management, Inc. (NYSE: NLY - news) today reported earnings for the quarter ended Sept. 30, 1998 of $3,708,656, or $0.29 basic earnings per average share
outstanding. This is an increase over the quarter ended June 30, 1998 earnings of $3,386,530, or $0.27 basic earnings per average share outstanding. The increase is a result of an increase in gains on
disposition of assets. Gains totaled $993,630 for the quarter ended Sept. 30, 1998, compared to $295,875 for the second quarter of 1998.