Newcastle Elects to Retain Capital

NEW YORK--(BUSINESS WIRE)-- Newcastle Investment Corp. (NYSE: NCT) announced today that its Board of Directors has elected not to pay a common stock or preferred stock dividend for the second quarter of 2009. The Company decided to retain capital for liquidity and for 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. Newcastle is managed by an affiliate of Fortress Investment Group LLC, a global alternative asset manager with approximately $26.5 billion in assets under management as of March 31, 2009. 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 June 30, 2009