iStar Financial's Board of Directors Approves New $65 Million Stock Repurchase Program

NEW YORK, Aug. 8, 2011 /PRNewswire/ -- iStar Financial Inc. (NYSE: SFI) announced today that its Board of Directors approved a new stock repurchase program. The program authorizes the Company to repurchase up to $65 million of its common stock from time-to-time in the open market and privately negotiated transactions. The Company intends to enter into a 10b5-1 trading plan through which it may make purchases of its common stock.

The Company's prior stock repurchase program, which had remaining authorization for $12.6 million of buy backs as of June 30, 2011, has been substantially completed.

iStar Financial Inc. (NYSE: SFI) is a fully-integrated finance and investment company focused on the commercial real estate industry. The Company provides custom-tailored investment capital to high-end private and corporate owners of real estate and invests directly across a range of real estate sectors. The Company, which is taxed as a real estate investment trust ("REIT"), has invested more than $35 billion over the past two decades. Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com.

SOURCE iStar Financial Inc.