RAIT Financial Trust Schedules Third Quarter 2009 Financial Results Release Date and Conference Call

RAIT Financial Trust (NYSE: RAS) today announced that it expects to release its third quarter 2009 financial results before U.S. stock markets open on Wednesday, November 4, 2009 and invites investors and other interested parties to listen to its quarterly results conference call on Wednesday, November 4, 2009 at 10:00 a.m. Eastern time.

All interested parties can access the live conference call webcast from the home page of the RAIT Financial Trust website at www.raitft.com or by dialing 866.783.2144, access code 88554240. For those who are not available to listen to the live call, the replay will be available shortly following the live call on RAIT’s website and telephonically until Wednesday, November 11, 2009 by dialing 888-286-8010, access code 52282533.

About RAIT Financial Trust

RAIT Financial Trust manages a portfolio of real estate related assets, provides a comprehensive set of debt financing options to the real estate industry and invests in real estate related assets. RAIT’s management uses their experience, knowledge and relationship network to seek to generate and manage real estate related investment opportunities for RAIT and for outside investors. Our objective is to provide our shareholders with total returns over time while managing the risks associated with our investment strategy. For more information, please visit www.raitft.com or call Investor Relations at 215-243-9000.