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05/16/2012

iStar Financial's Board of Directors Approves New $20 Million Stock Repurchase Program

NEW YORK, May 16, 2012 /PRNewswire/ -- iStar Financial Inc. (NYSE: SFI) announced today that its Board of Directors approved a new stock repurchase program. The program authorizes the Company to repurchase up to $20 million of its common stock from time to time in the open market and privately negotiated transactions. The Company may make purchases through a 10b5-1 trading plan.

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iStar Financial Inc. (NYSE: SFI) is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust ("REIT"), has invested more than $35 billion over the past two decades. Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com.

SOURCE iStar Financial Inc.

David M. DiStaso, Chief Financial Officer or Jason Fooks, Investor Relations, both of iStar Financial Inc., +1-212-930-9400

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