RAIT Financial Trust (“RAIT”) (NYSE: RAS), a national direct lender to owners of commercial real estate and an internally-managed real estate investment trust, announced that, on June 26, 2017, RAIT’s Board of Trustees (the “Board”) increased the size of the Board by two to eleven Trustees and appointed two new independent Trustees to fill the vacancies created by this increase, with these appointments to take effect on July 9, 2017. These new Trustees are Nancy Jo Kuenstner, an experienced strategic consultant with an extensive banking and finance background and Justin P. Klein, a partner with the law firm Ballard Spahr LLP and a seasoned corporate counselor and practitioner in the areas of securities law, mergers and acquisitions and corporate governance.

About Justin P. Klein

Justin P. Klein is a partner at Ballard Spahr LLP, a national law firm with which he has been a partner since 1992. Mr. Klein is a respected corporate counselor and practitioner in the areas of securities law and corporate governance and also represents parties in regulatory and enforcement proceedings before the Securities and Exchange Commission (SEC), state securities commissions, and securities industry self-regulatory organizations. Mr. Klein has chaired the Business Law Section of the Philadelphia Bar Association and the National Mediation and Arbitration Committee of the National Association of Securities Dealers, Inc. (now FINRA). Prior to entering private practice, Mr. Klein held positions at the SEC between 1974 and 1983, ending as assistant director of the Division of Corporation Finance.

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