0001193125-06-176236 Sample Contracts

2,000,000 Shares NEW CENTURY FINANCIAL CORPORATION Stock Liquidation Preference $25.00 Per Share UNDERWRITING AGREEMENT
Underwriting Agreement • August 18th, 2006 • New Century Financial Corp • Real estate investment trusts • New York

New Century Financial Corporation, a Maryland corporation (the “Company”), proposes to issue and sell to the underwriters named in Schedule A attached hereto (the “Underwriters”), for whom you are acting as representatives (the “Representatives”), an aggregate of 2,000,000 shares of 9.75% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the “Preferred Stock”), of the Company (the “Firm Shares”). In addition, solely for the purpose of covering over-allotments, the Company proposes to grant to the Underwriters the option to purchase from the Company up to an additional 300,000 shares of Preferred Stock (the “Additional Shares”). The Firm Shares and the Additional Shares are hereinafter collectively sometimes referred to as the “Shares”. The Shares are described in the Prospectus (as defined below).

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