Gail P. Seneca, chairman and chief executive officer of Luminent Mortgage Capital, has announced that she will leave her position as CEO of Seneca Capital Management by the end of the year to focus exclusively on Luminent."Luminent is evaluating [the possibility of] expanding its mortgage platform beyond the agency-spread arbitrage sector of the mortgage-backed securities market," Ms. Seneca said. "We appointed a highly experienced mortgage finance professional as president in March 2005. Today's announcement continues the momentum at Luminent to expand and improve our business model and results." The company can be found on the Web at http://www.luminentcapital.com.

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