Taberna Realty Finance Trust Announces Date of Special Meeting of Shareholders to Vote on Proposed Merger with RAIT Investment Trust.

PHILADELPHIA -- Taberna Realty Finance Trust ("Taberna") announced today that it has set Monday, December 11, 2006 as the date for a special meeting of its shareholders to consider the previously announced merger with RAIT Investment Trust and related matters. The meeting will be held at 10:00 a.m., Eastern Time, at The Pyramid Club, 1735 Market Street, 52nd Floor, Philadelphia, PA 19103. Only shareholders of record at the close of business on the record date, October 20, 2006, will be entitled to vote at the special meeting.

Information About The Proposed Merger With RAIT Investment Trust

RAIT has filed with the Securities and Exchange Commission (the "SEC") a Registration Statement on Form S-4 (Registration No. 333-136197) that includes a preliminary joint proxy statement/prospectus of RAIT and Taberna and RAIT may file other relevant documents concerning the proposed merger with the SEC. Once finalized, a definitive joint proxy statement/prospectus will be sent to shareholders of RAIT and Taberna seeking approvals related to the proposed transaction. RAIT and Taberna shareholders and other investors are urged to read the registration statement and the definitive joint proxy statement/prospectus when it becomes available and any other materials filed by RAIT with the SEC, as well as any amendments or supplements to those documents. These documents contain important information, which should be read carefully before any decision is made with respect to the merger. Documents filed with the SEC are available for free at the SEC's website (http://www.sec.gov). These documents are also available for free by accessing RAIT's website (http://www.raitinvestmenttrust.com).

This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

About Taberna Realty Finance Trust:

Taberna Realty Finance Trust, with headquarters in Philadelphia, PA and offices in New York, NY and Hamilton, Bermuda, is a specialty finance real estate investment trust ("REIT") that provides innovative financing for REITs and real estate operating companies and makes secondary market investments in select real estate debt instruments, including residential mortgage loan portfolios, commercial mortgages, residential mortgage-backed securities and commercial mortgage-backed securities.