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12/01/2006

iStar Financial Declares Regular Quarterly Common Dividend

NEW YORK, Dec. 1 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI), the leading publicly traded finance company focused on the commercial real estate industry, announced today that its Board of Directors has declared a regular quarterly cash dividend on its common stock of $0.77 per share for the quarter ended December 31, 2006. The $0.77 dividend is payable on December 29, 2006 to holders of record on December 15, 2006.

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, corporate net lease financing and equity. 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.

CONTACT:
Catherine D. Rice
Chief Financial Officer

Andrew G. Backman
Vice President - Investor Relations
Both of iStar Financial Inc.
+1-212-930-9400

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