On April 19, 2017, CYS Investments, Inc. (the “Company”, “we”,
“us”, or “our”) issued a press release announcing its financial
position as of March 31, 2017, results of operations for the three
months ended>March 31, 2017, and other related information. A
copy of such press release is furnished as Exhibit 99.1 to this
Current Report on Form 8-K (the “Report”) and is incorporated
herein by reference.

The information in Item 2.02 of this Report, including the
information in the press release attached as Exhibit 99.1 to this
Report, is furnished to Item 2.02 of Form 8-K and shall not be
deemed filed for the purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that section. Furthermore, the information in Item
2.02 of this Report, including the information in the press release
attached as Exhibit 99.1 to this Report, shall not be deemed to be
incorporated by reference in the filings of the registrant under
the Securities Act of 1933.

Forward-Looking Statements Disclaimer

This Report contains forward-looking statements made to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including those relating to interest rates and interest
rate volatility, the prices, supply and volatility of Agency RMBS,
earnings, yields, investment environment, hedges, forward settling
transactions, liquidity, prepayments, and the effect of actions of
the U.S. government, including the new administration, the Federal
Reserve and the Federal Open Market Committee, on our results.
Forward-looking statements typically are identified by use of the
terms such as believe, expect, anticipate, estimate, plan,
continue, intend, should, may or similar expressions.
Forward-looking statements are based on the Company’s beliefs,
assumptions and expectations of the Company’s future performance,
taking into account all information currently available to the
Company. The Company cannot assure you that actual results will not
vary from the expectations contained in the forward-looking
statements. All of the forward-looking statements are subject to
numerous possible events, factors and conditions, many of which are
beyond the control of the Company and not all of which are known to
the Company, including, without limitation, market conditions and
those described in the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2016, which has been filed with
the Securities and Exchange Commission. All forward-looking
statements speak only as of the date on which they are made. New
risks and uncertainties arise over time, and it is not possible to
predict those events or how they may affect us. Except as required
by law, the Company is not obligated to, and does not intend to,
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

(d) Exhibits.

The information contained in the press release attached as Exhibit
99.1 to this Report is furnished and shall not be deemed filed for
the purposes of Section 18 of the Securities Exchange Act of 1934,
as amended, or otherwise subject to the liabilities of that
section. Furthermore, the information contained in the press
release attached as Exhibit 99.1 to this Report shall not be deemed
to be incorporated by reference in the filings of the registrant
under the Securities Act of 1933, as amended.