Capstead Mortgage (CMO) 8-K Regulation FD Disclosure

Exhibit 99.1

Long-Term
Investment Capital
(in millions)

Portfolio Composition
(as of June 30, 2008)

Total Assets
(in millions)

4 Capstead Mortgage Corporation, formed in 1985 and based in Dallas, Texas, is a self-managed real estate investment trust for federal income tax purposes. Capstead’s core strategy is managing a leveraged portfolio of residential mortgage pass-through securities consisting almost exclusively of adjustable-rate mortgage pass-through securities issued and guaranteed by government-sponsored entities, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae. Agency-guaranteed residential mortgage pass-through securities carry an implied AAA credit rating with limited, if any, credit risk. Capstead may also augment its core portfolio with investments in credit-sensitive commercial real estate-related assets.

EXPERIENCE	STABILITY	STRATEGY
• Oldest mortgage REIT	• Positions with 18 lending	• Avoid residential credit risk
	counterparties	while minimizing, but not
• Top 4 executives with		eliminating, interest rate risk
the company since 1994	• Short-duration portfolio
	conservatively leveraged
	and appropriately hedged
	(net duration gap under 4
	months at June 30)

HISTORICAL DEBT/LONG-TERM INVESTMENT CAPITAL

• Debt to long-term investment capital has historically ranged from 8.0x to 12.0x through various interest rate cycles and can be quickly adjusted to respond to market conditions.

• We currently anticipate maintaining our leverage at the lower end of our targeted range in the coming quarters.

Quarterly Spread

COMMON STOCK
INFORMATION

NYSE Ticker:
CMO

Price as of 8/26/08:
$11.44

52-wk. High/Low:
$18.62/$8.69

2Q Dividend:
$0.59

Dividend Yield:
(based on annualized 2Q dividend)
20.6%

2Q Avg. Daily Vol.:
1.0m shares

SERIES A/SERIES B
PREFERRED STOCK INFO

NYSE Ticker:
CMOPRA/CMOPRB

Price as of 8/26/08:
$18.10/$12.70

Call Price:
$16.40/$12.50

Liquidation Value:
$16.40/$11.38

Conversion Ratio:
1.5629/0.6025

Annual Dividend:
$1.60/$1.26

4 2^ND QUARTER 2008 HIGHLIGHTS

• Earnings totaled $36.7 million or $0.58 per diluted common share

• Financing spreads increased 33 basis points to 2.05%

• Book value per common share increased $1.02 to $10.42

• Declared and paid dividend of $0.59 per common share

• Raised $77 million in new common equity capital

• Increased portfolio of agency-guaranteed residential ARM securities by $464 million to $7.9 billion

• Reduced portfolio leverage to 8.14 times long-term investment capital

4 QUARTERLY RESULTS

	June 30,		March 31,		December 31,		September 30,			June 30,
(In thousands, except per share amounts)	2008		2008		2007		2007			2007
Net interest margin:
Residential mortgage investments	$	41,456	$	36,247	$	17,505	$	8,257		$	8,560
Commercial mortgage investments		857		798		813		396			638
Net interest margin		42,313		37,045		18,318		8,653			9,198
Net income		36,728		30,147		15,860		(3,148	)		5,774
Income available to common stockholders		31,665		25,083		10,796		(8,212	)		710
Diluted earnings per share		0.58		0.53		0.31		(0.43	)		0.04
Common dividends per share		0.59		0.52		0.24		0.04			0.04
Common equity raises		77,143		131,344		205,997		—			1,381
Common shares outstanding (EOQ)		56,071		49,918		42,819		19,393			19,392

TOP COMMON STOCKHOLDERS*

Holder	% O/S
Wells Capital Management		10.48
Wellington Management Company		5.30
Highland Capital Management		5.04
Transamerica Investment Management		3.54
DePrince Race & Zollo		3.49
Barclays Global Investors, N.A.		3.42
Robeco Investment Management		3.37
Thompson, Siegel & Walmsley		3.30
Millennium Management		2.81
Vanguard Group, Inc.		2.16

* As of August 21, 2008

ANALYSTS*

Firm	Rating
Deutsche Bank	Buy
FBR Capital Markets	Outperform
Fox-Pitt Kelton	Outperform
JMP Securities LLC	Outperform
Keefe, Bruyette & Woods	Outperform
RBC Capital Markets	Outperform
Stifel Nicolaus	Buy

* As of August 21, 2008

Capstead Mortgage Corporation / 8401 North Central Expressway, Suite 800, Dallas, TX 75225
PH 800.358.2323 / E invrel@capstead.com /www.capstead.com