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02/15/2008

iStar Financial Declares Preferred Stock Dividends

NEW YORK, Feb. 15 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI), a leading publicly traded finance company focused on the commercial real estate industry, announced today that the Company's Board of Directors has declared dividends on the Company's Series D, Series E, Series F, Series G, and Series I Preferred Stock. For all five series of Preferred Stock, dividends are payable on March 14, 2008 to holders of record on February 29, 2008.

A dividend of $0.50 per share will be paid on the 8.00% Series D Preferred Stock; a dividend of $0.492188 per share will be paid on the 7.875% Series E Preferred Stock; a dividend of $0.4875 per share will be paid on the 7.80% Series F Preferred Stock; a dividend of $0.478125 per share will be paid on the 7.65% Series G Preferred Stock; and a dividend of $0.46875 per share will be paid on the 7.50% Series I Preferred Stock.

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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 http://www.istarfinancial.com.

SOURCE iStar Financial Inc.

CONTACT:
Catherine D. Rice, Chief Financial Officer
or
Andrew G. Backman, Senior Vice President - Investor Relations
both of iStar Financial Inc.
1-212-930-9400
Web site: http://www.istarfinancial.com

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