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11/30/2001

iStar Financial Inc. Appoints Daniel S. Abrams Executive Vice President - Investments

NEW YORK, Nov 30, 2001 /PRNewswire via COMTEX/ -- iStar Financial Inc. (NYSE: SFI) today announced the appointment of Daniel S. Abrams to the position of Executive Vice President - Investments. Mr. Abrams joins iStar Financial's New York team and will focus on originating new structured finance investments. "Dan's combination of financial and real estate expertise, significant industry contacts and high level of integrity make him a valuable addition to the iStar team," commented Jay Sugarman, iStar Financial's Chairman and Chief Executive Officer.

Mr. Abrams brings to iStar Financial over two decades of experience in the real estate finance business. Before joining iStar Financial, Mr. Abrams was a founding principal of Citadel Realty Group, a boutique investment bank focusing on real estate, and a managing director at Donaldson, Lufkin & Jenrette. Prior to DLJ, he served as a managing director with Nomura Asset Capital Corporation as well as a partner at Rosenman & Colin, a major New York City law firm. He received an L.L.M. in Taxation from the New York University School of Law; a J.D. from the National Law Center of the George Washington University, where he was editor-in-chief of the Law Review; and a B.S. in Economics from the Wharton School.

iStar Financial is the largest publicly traded finance company focused exclusively 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 Andrew
                  C. Richardson, Senior Vice President, Capital Markets, or Erin C. Hart,
                  Associate, Investor Relations, all of iStar Financial Inc., +1-212-930-9400

URL:              http://www.istarfinancial.com
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