FRIEDMAN, BILLINGS, RAMSEY GROUP, INC. 23,000,000 Shares of Common Stock UNDERWRITING AGREEMENTUnderwriting Agreement • October 8th, 2003 • Friedman Billings Ramsey Group Inc • Real estate investment trusts • Virginia
Friedman, Billings, Ramsey Group, Inc., a Virginia corporation that has elected to be taxed as a real estate investment trust (the “Company”), confirms its agreement with each of the Underwriters listed in Schedule I hereto (collectively, the “Underwriters”), for whom Friedman, Billings, Ramsey & Co., Inc. and J.P. Morgan Securities Inc. are each acting as a representative (in such capacity, the “Representatives”), with respect to (i) the sale by the Company and the purchase by the Underwriters, of 23,000,000 shares of common stock of the Company, $0.01 par value per share (the “Common Shares”), and the purchase by the Underwriters, acting severally and not jointly, of the respective number of Common Shares set forth opposite the names of the Underwriters in Schedule I hereto and (ii) the grant by the Company to the Underwriters, of the option described in Section 1(b) hereof to purchase all or any part of 3,450,000 additional Common Shares. The 23,000,000 Common Shares to be purchased
