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02/11/2004

iStar Financial Increases Quarterly Common Stock Dividend by 5.3%

NEW YORK, Feb. 11 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI) announced today that, effective April 1, 2004, its Board of Directors has approved an increase in the regular quarterly cash dividend on its common stock for 2004 to $0.6975 per share, representing $2.79 per share on an annualized basis. The $0.6975 per share quarterly dividend represents a 5.3% increase over iStar Financial's 2003 quarterly common stock dividend of $0.6625 per share. The cash dividend of $0.6975 for the quarter ended March 31, 2004 is payable on April 29, 2004 to holders of record on April 15, 2004.

iStar Financial is the leading publicly traded finance company focused on the commercial real estate industry. The Company provides custom-tailored financing to high-end private and corporate owners of real estate nationwide, including senior and junior mortgage debt, senior, mezzanine and subordinated corporate capital, and corporate net lease financing. The Company, which is taxed as a real estate investment trust, seeks to deliver a strong dividend and 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 website at www.istarfinancial.com.

SOURCE  iStar Financial Inc.
    -0-                             02/11/2004
    /CONTACT:  Catherine D. Rice, Chief Financial Officer, or Andrew C.
Richardson, Executive Vice President - Capital Markets, or Erin C. Gatewood,
Associate - Investor Relations, all of iStar Financial Inc., +1-212-930-9400/
    /Web site:  http://www.istarfinancial.com /
    (SFI)

CO:  iStar Financial Inc.
ST:  New York
IN:  FIN RLT
SU:  DIV

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2021 02/11/2004 07:30 EST http://www.prnewswire.com
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