Brower Piven Announces the Filing of a Class Action Lawsuit Against iStar Financial Inc.

BALTIMORE, MD -- (MARKET WIRE) -- 04/18/08 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of iStar Financial Inc. ("iStar" or the "Company") (NYSE: SFI) securities pursuant and/or traceable to the Company's secondary public offering on or about December 13, 2007 (the "Class Period").

iStar operates as a finance company focusing on the commercial real estate industry. The complaint charges iStar and certain of its officers and directors with violations of the Securities Act of 1933.

No class has yet been certified in the above action. If you are a member of the proposed Class, you may, no later than June 13, 2008, ask the Court to allow you to serve as lead plaintiff for the proposed Class. To serve as a lead plaintiff, you must satisfy certain legal requirements. In making your decision, you should take into account that those with large financial losses resulting from the alleged federal securities law violations are given preference in being appointed lead plaintiff.

If you purchased or otherwise acquired iStar securities pursuant and/or traceable to the Company's secondary public offering on or about December 13, 2007, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven (without obligation or cost to you) at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience in securities and class action litigation of over 40 years. If you choose to retain counsel, you may retain Brower Piven, or you may retain other counsel of your choice.

CONTACT: Brower Piven, A Professional Corporation Baltimore, Maryland Charles J. Piven 410/986-0036 hoffman@browerpiven.com

2008-04-18 21:20:41 0339952 MARKETWIRE