PHILADELPHIA--Jan. 15, 2002--RAIT Investment Trust (NYSE:RAS) today announced that its Board of Directors has approved plans to transfer RAIT's listing to the New York Stock Exchange (NYSE). The Company expects to begin trading on the NYSE on January 28, 2002 under the ticker symbol ``RAS''. Until that time, RAIT's Common Stock will continue trading on the American Stock Exchange.
"Although the American Stock Exchange has served us well since our IPO in 1998, we believe that joining the New York Stock Exchange will further raise the visibility of RAIT in the investment community and thus is an important element of our future financial planning'", said Betsy Cohen, Chairman & CEO of RAIT Investment Trust.
"The New York Stock Exchange is honored to welcome RAIT Investment Trust to the world's largest equities market,'" said NYSE Chairman and CEO Dick Grasso. "RAIT will make a fine addition to our family of listed companies and we look forward to an outstanding partnership with RAIT and its shareholders.'"
For more complete information about RAIT Investment Trust please visit www.raitinvestmenttrust.com <http://www.raitinvestmenttrust.com>, email questions or comments to info@raitinvestmenttrust.com <mailto:info@raitinvestmenttrust.com> or contact Investor Relations at 215/861-7900.
About RAIT Investment Trust
RAIT Investment Trust (NYSE: RAS - news) is a specialty finance company focused on the commercial real estate industry. RAIT provides structured financing to private and corporate owners of real estate nationwide, including senior and junior mortgage debt and mezzanine lending, and acquires real estate for its own account. RAIT, which is taxed as a real estate investment trust, seeks to deliver risk-adjusted returns on equity to shareholders by providing tailored and flexible financing products to its customers. For more information please visit www.raitinvestmenttrust.com or call Investor Relations at 215-861-7900.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding RAIT Investment Trust's business which are not historical facts are ``forward-looking statements'' that involve risks and uncertainties. For discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statement, see ``Risk Factors'' in the prospectus referred to above and in the Company's 2000 Form 10K Annual Report filed with the Securities and Exchange Commission.
Contact:
RAIT Investment Trust
Andres Viroslav
215-861-7900
aviroslav@raitinvestmenttrust.com
