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04/02/2001

iStar Financial Increases Regular Quarterly Dividend

NEW YORK, April 2 /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 $0.6125 per share for the quarter ending March 31, 2001. The $0.6125 dividend represents a 2.1% increase over iStar Financial's first quarter 2000 dividend of $0.60. The $0.6125 dividend is payable on April 30, 2001 to holders of record on April 16, 2001.

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 mezzanine and subordinated capital, 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, or Lianne A. Merchant, Vice President, Investor Relations, both of iStar Financial Inc., 212-930-9400/

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