Newcastle Declares Preferred Stock Dividends

NEW YORK--(BUSINESS WIRE)-- Newcastle Investment Corp. (NYSE: NCT) announced today that its Board of Directors has declared dividends on the Company's remaining outstanding 9.75% Series B, 8.05% Series C and 8.375% Series D Cumulative Redeemable Preferred Stock. The Company will pay dividends of $0.236979, $0.195660 and $0.203559 per share on the Series B, Series C and Series D preferred stock, respectively. The dividends for the preferred stock cover the period from and including March 26, 2010 to and including April 30, 2010. These dividends are payable on April 30, 2010 to holders of record on April 9, 2010.

Newcastle's Board of Directors elected not to pay a common stock dividend for the first quarter of 2010 in order to further retain capital for liquidity, investment and working capital purposes.

About Newcastle

Newcastle Investment Corp. invests in real estate debt and other real estate related assets. Newcastle is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes. For more information regarding Newcastle Investment Corp. or to be added to our e-mail distribution list, please visit www.newcastleinv.com.

    Source: Newcastle Investment Corp.

Released March 31, 2010