December 7, 2016 -- Newcastle Investment Corp.(NYSE:NCT) announced today that its Board of Directors has decided that the Company will not be a Real Estate Investment Trust (“REIT”) beginning in 2017. This decision was made to further support the Company’s transformation to a leisure company, led by its traditional and entertainment golf businesses. The Company anticipates that the conversion to a C–Corporation (“C-Corp”) will help provide transparency for stockholders. Furthermore, the Company has a substantial amount of net operating losses (“NOLs”) available to offset a large portion of U.S. federal income tax related to future earnings from the go-forward business. In response to the changes in the business, the Company will change its name to Drive Shack Inc. and will be publicly traded on the New York Stock Exchange under a new ticker “DS”. The Company will begin trading under the ticker “DS” on December 29, 2016. The Company intends to maintain REIT status through the end of 2016, and the conversion to a C-Corp will be effective as of January 1, 2017. ____________ Oct. 16, 2014 -- Newcastle Investment Corp. (NYSE: NCT) announced today that its Board of Directors has approved the details and timing of the spin-off of its senior living business. The spin-off will establish the senior living business as an independent, publicly traded real estate investment trust called New Senior Investment Group Inc. (NYSE: SNR). The spin-off will be effected as a distribution of all of the outstanding shares of common stock of New Senior, which is currently wholly owned by Newcastle, to the holders of Newcastle common stock as of the record date. The distribution will occur on November 6, 2014, subject to the conditions noted below, and the record date is October 27, 2014. In connection with the spin-off, Newcastle’s Board of Directors has approved a 1-for-2 reverse stock split of the outstanding shares of Newcastle’s common stock. On the first trading day following the distribution, November 7, 2014, New Senior will begin regular-way trading on the NYSE under the ticker symbol SNR, and Newcastle will resume trading ex-distribution under the ticker symbol NCT. _______________ January 27, 2014 -- Newcastle Investment Corp. NYSE:NCT announced today that its Board of Directors has formally declared the distribution of its equity interest in New Media Investment Group Inc. Newcastle’s equity interest represents 25,373,120 shares (the Distributed Shares), or approximately 85% of the total number of outstanding shares of New Media common stock. Following the distribution, New Media will be an independent, publicly traded company (NYSE: NEWM) primarily focused on investing in local media assets and on growing its existing online advertising and digital marketing services business. The distribution will be made on or about February 13, 2014 (the Distribution Date) to Newcastle common stockholders of record (NCT Record Holders) as of 5:00 p.m., Eastern Time, on February 6, 2014 (the Record Date).________________ 1/6/2011 -- Newcastle Investment Corp. announced today that its Board of Directors has declared dividends on the Company’s Series B, Series C and Series D Preferred Stock for the period beginning May 1, 2010 and ending January 31, 2011. The dividends are payable on January 31, 2011 to holders of record on January 20, 2011. The Company will pay total dividends of $1.828125, $1.509375 and $1.570313 per share on the 9.75% Series B, 8.05% Series C and 8.375% Series D preferred stock, respectively. As of January 31, 2011, there will be no unpaid dividends with respect to any of Newcastle’s Preferred Stock. ____________ June 30, 2010 -- Newcastle Investment Corp. announced today that its Board of Directors has elected not to pay a common stock or preferred stock dividend for the second quarter of 2010. The Company decided to retain capital for liquidity, investment and working capital purposes. ____________ March 31, 2010 -- Newcastle Investment Corp. 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. ____________ Dec. 19, 2008 -- Newcastle Investment Corp. announced today that its Board of Directors has elected not to pay a common stock or preferred stock dividend in the fourth quarter of 2008. The Company decided to retain capital to further reduce recourse debt and for working capital purposes. For the first three quarters of 2008, the Company paid common dividends totaling $0.75 per share. The Company believes the dividends paid year to date fully satisfy our 2008 REIT distribution requirements.