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01/24/2011

iStar Financial Announces Tax Treatment of 2010 Dividends

NEW YORK, Jan. 24, 2011 /PRNewswire via COMTEX/ --

iStar Financial Inc. (NYSE: SFI), a publicly traded finance company focused on the commercial real estate industry, announced today the tax treatment of its 2010 preferred stock dividends.

Series D Preferred Stock

During 2010, taxable dividends for iStar Financial's distribution of $2.00 per share of the 8.00% Series D preferred stock CUSIP #45031U-408, listed under NYSE ticker symbol [SFI pD], will be classified as 100% return of capital.

Series E Preferred Stock

During 2010, taxable dividends for iStar Financial's distribution of $1.968752 per share of the 7.875% Series E preferred stock CUSIP #45031U-507, listed under NYSE ticker symbol [SFI pE], will be classified as 100% return of capital.

Series F Preferred Stock

During 2010, taxable dividends for iStar Financial's distribution of $1.95 per share of the 7.80% Series F preferred stock CUSIP #45031U-606, listed under NYSE ticker symbol [SFI pF], will be classified as 100% return of capital.

Series G Preferred Stock

During 2010, taxable dividends for iStar Financial's distribution of $1.9125 per share of the 7.65% Series G preferred stock CUSIP #45031U-705, listed under NYSE ticker symbol [SFI pG], will be classified as 100% return of capital.

Series I Preferred Stock

During 2010, taxable dividends for iStar Financial's distribution of $1.875 per share of the 7.50% Series I preferred stock CUSIP #45031U-804, listed under NYSE ticker symbol [SFI pI], will be classified as 100% return of capital.

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iStar Financial Inc. is a 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"), provides innovative and value added financing solutions to its customers. Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com.

SOURCE iStar Financial Inc.

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