NEW YORK, Jan. 28 /PRNewswire-FirstCall/ -- iStar Financial Inc. (NYSE: SFI), a leading publicly traded finance company focused on the commercial real estate industry, announced today the tax treatment of its 2008 common and preferred stock dividends. Common Stock Dividends During 2008, taxable dividends for iStar Financial's common stock were $1.74 per share. The Company's common stock is currently listed under the CUSIP #45031U-101 and trades under the NYSE ticker symbol [SFI]. For tax reporting purposes, the 2008 taxable dividend will be classified as follows: $0.1885716 as ordinary income, $1.3244294 as 15% capital gain, $0.2269990 as 25% capital gain, and $0.0482748 qualifies as a qualifying dividend. The following table contains this information on a quarterly basis. Cash Taxable Declaration Record Payment Distribution Ordinary Date Date Date Per Share Dividend 03/07/08 03/17/08 04/30/08 $0.8700000 $0.0942858 07/01/08 07/15/08 07/31/08 0.8700000 0.0942858 $1.7400000 $0.1885716 Section 1250 15% 25% Return of Qualifying Capital Gain Capital Gain Capital Dividends $0.6622147 $0.1134995 - $0.0241374 0.6622147 0.1134995 - 0.0241374 $1.3244294 $0.2269990 $0.00 $0.0482748 Preferred Stock Dividends Series D Preferred Stock During 2008, taxable dividends for iStar Financial's distribution of $2.00 per share of the 8.00% Series D preferred stock CUSIP #45031U-408, listed under NYSE ticker symbol [SFI pD], will be classified as follows: $0.2167492 as ordinary income, $1.5223324 as 15% capital gain, $0.2609184 as 25% capital gain, and $0.0554884 qualifies as a qualifying dividend. The following table contains this information on a quarterly basis. Cash Taxable Declaration Record Payment Distribution Ordinary Date Date Date Per Share Dividend 02/15/08 02/29/08 03/14/08 $0.5000000 $0.0541873 05/15/08 05/30/08 06/13/08 0.5000000 0.0541873 08/15/08 08/29/08 09/15/08 0.5000000 0.0541873 11/14/08 11/28/08 12/15/08 0.5000000 0.0541873 $2.0000000 $0.2167492 Section 1250 15% 25% Return of Qualifying Capital Gain Capital Gain Capital Dividends $0.3805831 $0.0652296 - $0.0138721 0.3805831 0.0652296 - 0.0138721 0.3805831 0.0652296 - 0.0138721 0.3805831 0.0652296 - 0.0138721 $1.5223324 $0.2609184 $0.00 $0.0554884 Series E Preferred Stock During 2008, taxable dividends for iStar Financial's distribution of $1.968752 per share of the 7.875% Series E preferred stock CUSIP #45031U-507, listed under NYSE ticker symbol [SFI pE], will be classified as follows: $0.2133624 as ordinary income, $1.4985476 as 15% capital gain, $0.2568420 as 25% capital gain, and $0.0546212 qualifies as a qualifying dividend. The following table contains this information on a quarterly basis. Cash Taxable Declaration Record Payment Distribution Ordinary Date Date Date Per Share Dividend 02/15/08 02/29/08 03/14/08 $0.4921880 $0.0533406 05/15/08 05/30/08 06/13/08 0.4921880 0.0533406 08/15/08 08/29/08 09/15/08 0.4921880 0.0533406 11/14/08 11/28/08 12/15/08 0.4921880 0.0533406 $1.9687520 $0.2133624 Section 1250 15% 25% Return of Qualifying Capital Gain Capital Gain Capital Dividends $0.3746369 $0.0642105 - $0.0136553 0.3746369 0.0642105 - 0.0136553 0.3746369 0.0642105 - 0.0136553 0.3746369 0.0642105 - 0.0136553 $1.4985476 $0.2568420 $0.00 $0.0546212 Series F Preferred Stock During 2008, taxable dividends for iStar Financial's distribution of $1.95 per share of the 7.80% Series F preferred stock CUSIP #45031U-606, listed under NYSE ticker symbol [SFI pF], will be classified as follows: $0.2113304 as ordinary income, $1.4842740 as 15% capital gain, $0.2543956 as 25% capital gain, and $0.0541012 qualifies as a qualifying dividend. The following table contains this information on a quarterly basis. Cash Taxable Declaration Record Payment Distribution Ordinary Date Date Date Per Share Dividend 02/15/08 02/29/08 03/14/08 $0.4875000 $0.0528326 05/15/08 05/30/08 06/13/08 0.4875000 0.0528326 08/15/08 08/29/08 09/15/08 0.4875000 0.0528326 11/14/08 11/28/08 12/15/08 0.4875000 0.0528326 $1.9500000 $0.2113304 Section 1250 15% 25% Return of Qualifying Capital Gain Capital Gain Capital Dividends $0.3710685 $0.0635989 - $0.0135253 0.3710685 0.0635989 - 0.0135253 0.3710685 0.0635989 - 0.0135253 0.3710685 0.0635989 - 0.0135253 $1.4842740 $0.2543956 $0.00 $0.0541012 Series G Preferred Stock During 2008, taxable dividends for iStar Financial's distribution of $1.9125 per share of the 7.65% Series G preferred stock CUSIP #45031U-705, listed under NYSE ticker symbol [SFI pG], will be classified as follows: $0.2072664 as ordinary income, $1.4557304 as 15% capital gain, $0.2495032 as 25% capital gain, and $0.0530608 qualifies as a qualifying dividend. The following table contains this information on a quarterly basis. Cash Taxable Declaration Record Payment Distribution Ordinary Date Date Date Per Share Dividend 02/15/08 02/29/08 03/14/08 $0.4781250 $0.0518166 05/15/08 05/30/08 06/13/08 0.4781250 0.0518166 08/15/08 08/29/08 09/15/08 0.4781250 0.0518166 11/14/08 11/28/08 12/15/08 0.4781250 0.0518166 $1.9125000 $0.2072664 Section 1250 15% 25% Return of Qualifying Capital Gain Capital Gain Capital Dividends $0.3639326 $0.0623758 - $0.0132652 0.3639326 0.0623758 - 0.0132652 0.3639326 0.0623758 - 0.0132652 0.3639326 0.0623758 - 0.0132652 $1.4557304 $0.2495032 $0.00 $0.0530608 Series I Preferred Stock During 2008, taxable dividends for iStar Financial's distribution of $1.875 per share of the 7.50% Series I preferred stock CUSIP #45031U-804, listed under NYSE ticker symbol [SFI pI], will be classified as follows: $0.2032024 as ordinary income, $1.4271864 as 15% capital gain, $0.2446112 as 25% capital gain, and $0.0520204 qualifies as a qualifying dividend. The following table contains this information on a quarterly basis. Cash Taxable Declaration Record Payment Distribution Ordinary Date Date Date Per Share Dividend 02/15/08 02/29/08 03/14/08 $0.4687500 $0.0508006 05/15/08 05/30/08 06/13/08 0.4687500 0.0508006 08/15/08 08/29/08 09/15/08 0.4687500 0.0508006 11/14/08 11/28/08 12/15/08 0.4687500 0.0508006 $1.8750000 $0.2032024 Section 1250 15% 25% Return of Qualifying Capital Gain Capital Gain Capital Dividends $0.3567966 $0.0611528 - $0.0130051 0.3567966 0.0611528 - 0.0130051 0.3567966 0.0611528 - 0.0130051 0.3567966 0.0611528 - 0.0130051 $1.4271864 $0.2446112 $0.00 $0.0520204 * * * iStar Financial Inc. is a leading publicly traded finance company focused on the commercial real estate industry. The Company primarily provides custom-tailored investment capital to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity. The Company, which is taxed as a real estate investment trust ("REIT"), seeks to deliver strong dividends 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 http://www.istarfinancial.com/. DATASOURCE: iStar Financial Inc. CONTACT: Catherine D. Rice, Chief Financial Officer, or Andrew G. Backman, Senior Vice President - Investor Relations, both of iStar Financial Inc., +1-212-930-9400 Web Site: http://www.istarfinancial.com/

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