Bimini Capital Management, Inc. (OTCBB: BMNM) ("Bimini Capital" or
the "Company"), a real estate investment trust ("REIT"), today
announced a loss from continuing operations of $2.3 million, or
$(0.09) per Class A Common Share, for the three month period ended
September 30, 2008, compared with a loss from continuing operations of
$3.2 million, or $(0.13) per Class A Common Share, for the
corresponding prior year period. On a consolidated basis, the Company
today reported a net loss of $14.4 million, or $(0.56) per Class A
Common Share, for the three month period ended September 30, 2008,
compared with a net loss of $4.7 million, or $(0.19) per Class A
Common Share, for the corresponding prior year period. Included in the
Company's consolidated results were losses from discontinued
operations, net of tax, of $12.1 million and $1.5 million,
respectively, for the three month periods ended September 30, 2008 and
September 30, 2007.