RAIT Financial Trust Declares Preferred Stock Dividends

PHILADELPHIA--(BUSINESS WIRE)--On October 22, 2008, RAIT Financial Trust (NYSE:RAS) announced that its Board of Trustees had declared a fourth quarter 2008 cash dividend of $0.484375 per share on RAIT’s 7.75% Series A Cumulative Redeemable Preferred Shares, $0.5234375 per share on RAIT’s 8.375% Series B Cumulative Redeemable Preferred Shares and $0.5546875 per share on RAIT’s 8.875% Series C Cumulative Redeemable Preferred Shares. The dividends will be paid on December 31, 2008 to holders of record on December 1, 2008.

About RAIT Financial Trust

RAIT Financial Trust (“RAIT”), a real estate investment trust (“REIT”), provides debt financing options to the real estate industry, including investors in commercial real estate, REITs and real estate operating companies and their intermediaries, throughout the United States and Europe. RAIT manages and invests in commercial mortgages, including whole and mezzanine loans, commercial real estate investments, preferred equity interests, residential mortgage loans, trust preferred securities and subordinated debentures. RAIT generates income for distribution from its portfolio of investments and assets under management. For more information, please visit www.raitft.com or call Investor Relations at 215-243-9000.