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10/01/2004

iStar Financial Declares Regular Quarterly Common Dividend

NEW YORK, Oct. 1 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI) announced today that its Board of Directors has declared a regular quarterly cash dividend on its common stock of $0.6975 per share for the quarter ending September 30, 2004. The $0.6975 dividend is payable on October 29, 2004 to holders of record on October 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 and mezzanine 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 the highest quality financing solutions to its customers. Additional information on iStar Financial is available on the Company's website at http://www.istarfinancial.com.

SOURCE iStar Financial Inc.
10/01/2004
CONTACT: Catherine D. Rice, Chief Financial Officer, Andrew C. Richardson, Executive Vice President of Capital Markets, Heather A. Rauch, Analyst of Investor Relations, all of iStar Financial Inc., +1-212-930-9400

Web site: http://www.istarfinancial.com
(SFI)

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