iStar Financial Inc. Files Shelf Registration Statement

October 9, 2003 at 5:23 PM EDT

NEW YORK, Oct. 9 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI) announced today that its has filed a Form S-3 shelf registration statement with the Securities and Exchange Commission. Once declared effective, the shelf registration would allow iStar Financial to issue various types of securities, including common stock, preferred stock, debt securities, depository shares, warrants and any combination thereof, from time to time, up to an aggregate of $1.0 billion. Such issuances would be subject to market conditions and the Company's capital needs.

Catherine D. Rice, iStar Financial's chief financial officer stated, "As has been our practice in the past, maintaining a current shelf is a prudent financial strategy and affords us maximum flexibility. We have maintained a $500 million shelf over the past several years, and are increasing our shelf to $1.0 billion, reflecting the growth of our Company."

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

SOURCE  iStar Financial Inc.
    -0-                             10/09/2003
    /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: /

CO:  iStar Financial Inc.
ST:  New York

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