PHILADELPHIA, PA - November 29, 2001 - The Board of Trustees of RAIT Investment Trust (RAIT) (NYSE: RAS) declared a fourth quarter 2001 common stock dividend of $0.56 per common share.  This represents a 7.7% increase over the $.52 dividend from the third quarter 2001.

The dividend will be paid on December 31, 2001 to holders of record on December 11, 2001.  The shares will begin trading ex-dividend on December 7, 2001. 

RAIT has a Dividend Reinvestment and Share Purchase Plan for both shareholders and non-shareholders.  Plan information may be obtained from the Plan Administrator, American Stock Transfer & Trust Company, at 1-800-278-4353 or by contacting RAIT at 215-861-7900 or email requests to info@raitinvestmenttrust.com.

About RAIT Investment Trust

RAIT Investment Trust (NYSE: RAS) 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 superior 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 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 Company's Registration Statement and 2000 Form 10K filed with the Securities and Exchange Commission.

SOURCE: RAIT Investment Trust