LETTER RE CHANGE OF CERTIFYING ACCOUNTANT
Published on August 11, 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