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12/15/2000

iStar Financial Declares Regular Quarterly Dividend of $0.60 Per Share

NEW YORK, Dec. 15 /PRNewswire/ -- iStar Financial Inc. (NYSE: SFI), the leading publicly-traded finance company focused exclusively on the commercial real estate industry, today announced that its Board of Directors has declared a regular quarterly cash dividend on its common stock of $0.60 per share for the quarter ending December 31, 2000. The $0.60 dividend is payable on January 12, 2001 to holders of record on December 29, 2000.

iStar Financial is the leading publicly traded finance company focused on the commercial real estate industry. The Company provides structured financing to private and corporate owners of real estate nationwide, including senior and junior mortgage debt, corporate and mezzanine lending, and corporate net lease financing. The Company, which is taxed as a real estate investment trust, seeks to deliver 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 Web site at www.istarfinancial.com. SOURCE iStar Financial Inc.

CONTACT: Spencer B. Haber, Executive Vice President and CFO, 212-930-9400, or Lianne A. Merchant, Vice President, Investor Relations, 212-930-9400, both for iStar Financial Inc./

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