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Filed Pursuant to Rule 424(b)(3)
Registration No. 333-67343
FBR ASSET INVESTMENT CORPORATION
Potomac Tower
1001 Nineteenth Street North
Arlington, Virginia 22209
PROSPECTUS SUPPLEMENT
December 21, 1999
Dear FBR Asset Investment Corporation Shareholder:
This letter will serve as a supplement to the Company's prospectus dated
September 27, 1999, for its common stock, par value $.01 per share. We are also
enclosing with this supplement a copy of the Company's Quarterly Report on Form
10-Q for the third quarter ended September 30, 1999.
The shareholders of record listed on the attached Schedule A, and the
beneficial owners of the common shares owned by these shareholders, as well as
their respective transferees, pledgees, donees or other successors, are hereby
added as selling shareholders under the Company's prospectus with respect to the
common shares owned by each such shareholder. Schedule A sets forth the
additional selling shareholders and the number of shares owned by them as of a
recent practicable date that may be offered for sale pursuant to the prospectus.
You may request additional copies of this prospectus supplement or the
Company's prospectus dated September 27, 1999, free of charge, by writing or
calling Mr. John M. Blassingame, Jr. at FBR Asset Investment Corporation,
Potomac Tower, 1001 Nineteenth Street North, Arlington, Virginia 22209, (703)
469-1000.
Very truly yours,
/s/ Kurt R. Harrington
Kurt R. Harrington
Chief Financial Officer, Treasurer & Secretary
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Schedule A
Additional Selling Shareholders
Name # Shares Owned
- ---- --------------
David Brown............................ 2,500
Judith Anne Freitag.................... 2,500
David Freitag.......................... 2,500
RS Midcap Opportunities Fund
(held in name of Bennett & Co. at
(PNC Bank)............................. 75,000
Landmark Bancshares.................... 12,500
John D. Thiel.......................... 1,500
CEDE & Co.
(Trustee for Financial
Institutions Retirement Fund).......... 28,000
Oppenheimer Capital Income Fund
(in name of Bank of NY)................ 500,000
Richard F. Kramer...................... 13,000
John M. Kriak.......................... 1,000
Financial Edge Fund, L.P............... 15,000
Novante Communications Corporation
Money Purchase Plan for Steven Antebi.. 10,000
