Paul Hastings Advises Capital Trust in $113 million Public Offering of Class A Common Stock

March 31, 2008

New York, NY (March 31, 2008) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm advised Capital Trust, Inc., a finance and investment management company, in the closing of its previously announced public offering of 4,000,000 shares of its class A common stock. Net proceeds to the company totaled approximately $113 million.

Under the terms of the closing, affiliates of Samuel Zell, the Companys chairman of the board, and W.R. Berkley Corporation, an existing shareholder, purchased a number of shares in the offering sufficient to maintain their pro rata ownership interests in the Company.

New York partner Michael Zuppone led the Paul Hastings team.

About Capital Trust: Headquartered in New York City, Capital Trust Inc., specializes in credit-sensitive structured financial products. To date, the Companys investment activities have focused primarily on the U.S. commercial real estate subordinate debt markets. Capital Trust executes its business both as a balance sheet investor and as an investment manager. Capital Trust is a real estate investment trust traded on the New York Stock Exchange under the symbol CT.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.