iStar Financial Comments on Standard & Poor's Upgrade

Apr 12, 2001, 01:00 ET from iStar Financial Inc.

    NEW YORK, April 12 /PRNewswire/ -- iStar Financial Inc. (NYSE:   SFI),
 announced that Standard & Poor's yesterday upgraded iStar Financial's senior
 unsecured credit rating to BB+ from BB.  In addition, Standard & Poor's raised
 the ratings on iStar Financial's Series B, C and D preferred stock to B+ from
 B. Spencer B. Haber, iStar Financial's Executive Vice President - Finance and
 Chief Financial Officer, stated, "We view Standard & Poor's upgrade as another
 affirmation of the strength of our business strategy and risk management
 skills.  With each of the three major rating agencies now at the BB+ senior
 unsecured ratings level, our objective is to continue to demonstrate the
 steady performance which has characterized our business in the past, and which
 will help us to achieve investment grade status."
     iStar Financial is the leading publicly traded finance company focused on
 the commercial real estate industry.  The Company provides structured
 financing to private and corporate owners of real estate nationwide, including
 senior and junior mortgage debt, corporate mezzanine and subordinated capital,
 and corporate net lease financing.  The Company, which is taxed as a real
 estate investment trust, seeks to deliver 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 Web site at www.istarfinancial.com.
 
 

SOURCE iStar Financial Inc.
    NEW YORK, April 12 /PRNewswire/ -- iStar Financial Inc. (NYSE:   SFI),
 announced that Standard & Poor's yesterday upgraded iStar Financial's senior
 unsecured credit rating to BB+ from BB.  In addition, Standard & Poor's raised
 the ratings on iStar Financial's Series B, C and D preferred stock to B+ from
 B. Spencer B. Haber, iStar Financial's Executive Vice President - Finance and
 Chief Financial Officer, stated, "We view Standard & Poor's upgrade as another
 affirmation of the strength of our business strategy and risk management
 skills.  With each of the three major rating agencies now at the BB+ senior
 unsecured ratings level, our objective is to continue to demonstrate the
 steady performance which has characterized our business in the past, and which
 will help us to achieve investment grade status."
     iStar Financial is the leading publicly traded finance company focused on
 the commercial real estate industry.  The Company provides structured
 financing to private and corporate owners of real estate nationwide, including
 senior and junior mortgage debt, corporate mezzanine and subordinated capital,
 and corporate net lease financing.  The Company, which is taxed as a real
 estate investment trust, seeks to deliver 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 Web site at www.istarfinancial.com.
 
 SOURCE  iStar Financial Inc.