UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
____________
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: August 11, 1998
DYNEX CAPITAL, INC.
(Exact Name of Registrant as Specified in Charter)
Virginia 1-9819 52-1549373
(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
10900 Nuckols Road, 3rd Floor, Glen Allen, Virginia 23060
(Address of Principal Executive Offices) (Zip Code)
(804) 217-5800
(Registrant's telephone number, including area code)
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Item 7. Exhibits
(c). Exhibits
16.1 Letter from KPMG Peat Marwick LLP dated August 7, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: August 11, 1998
DYNEX CAPITAL, INC.
By: /s/ Lynn K. Geurin
Lynn K. Geurin
Executive Vice President and
Chief Financial Officer
<PAGE>
Exhibit Index
Exhibit
16.1 Letter from KPMG Peat Marwick LLP dated August 7, 1998
EX-16.1
August 7, 1998
Securities and Exchange Commission
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for Dynex Capital, Inc. and under
the date of February 4, 1998, we reported on the consolidated financial
statements of Dynex Capital, Inc. and subsidiaries as of and for the years ended
December 31, 1997 and 1996. On July 21, 1998, our appointment as principal
accountants was terminated. We have read Dynex Capital, Inc.'s statements
included under item four of its Form 8-K dated July 21, 1998 and we agree with
such statements, except that we are not in a position to agree or disagree with
Dynex Capital, Inc.'s statement that the change was approved by the audit
committee of the board of directors.
Very truly yours,
KPMG PEAT MARWICK LLP
