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iStar Financial Announces Reactivation of Stock Repurchase Program

NEW YORK, Aug 01, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- iStar Financial Inc. (NYSE: SFI), a leading publicly traded finance company focused on the commercial real estate industry, announced today that it intends to reactivate its previously authorized stock repurchase program. As described in the Company's Securities and Exchange documents, under the existing program, the Company may currently purchase up to 2.7 million shares of common stock from time to time through open market or privately negotiated transactions. The timing and exact number of shares purchased will be determined at iStar Financial's discretion and will depend on market conditions. iStar Financial may discontinue purchasing shares at any time.

iStar Financial Inc. is a leading publicly traded finance company focused on the commercial real estate industry. The Company primarily provides custom-tailored investment capital to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity. The Company, which is taxed as a real estate investment trust ("REIT"), seeks to deliver strong dividends and superior risk-adjusted returns on equity to shareholders by providing innovative and value added financing solutions to its customers. Additional information on iStar Financial is available on the Company's website at

SOURCE iStar Financial Inc.

Catherine D. Rice, Chief Financial Officer
Andrew G. Backman, Vice President -- Investor Relations
both of iStar Financial Inc.