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NewStar Financial Closes $13,180,000 Loan on a 372 Unit Apartment Property in Wichita Falls, Texas

Holliday Fenoglio Fowler, L.P. Advises Canyon Creek Development

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Boston, MA – October 29, 2007 – NewStar Financial Inc. (NASDAQ: NEWS), a Boston-based specialty finance company, announces that it has provided a $13,180,000 senior secured, first mortgage loan on a 372-unit, garden style multifamily complex in Wichita Falls, Texas. The property was acquired by an affiliate of Canyon Creek Development, the development and acquisition arm of Sunwest Management Inc. Mona Carlton and John Ahmed of Holliday Fenoglio Fowler's ("HFF") Dallas office acted as the exclusive mortgage bankers for the borrower.The NewStar loan provides the sponsors with funds to acquire the property as well as additional capital for rehabilitation and repositioning costs. The property will undergo renovations including roof replacement, landscaping & irrigation upgrades, parking lot repairs, as well as interior refurbishing. John Ahmed of Holliday Fenoglio Fowler, L.P. said, "Once NewStar committed, the team never wavered. NewStar maintained professionalism and good humor through some pretty choppy waters, and we were always confident that NewStar would get the deal done. I am very much looking forward to working on the next opportunity with the NewStar team.""Working with NewStar on our acquisition went very well. They worked with us to accommodate our equity structure, and the closing process went smoothly," said Charlie Hall, Director of Multifamily at Canyon Creek Development. Tristan Pierce of NewStar said, "We were able to apply our previous experience with moderate rehabs of multifamily properties to this transaction."The facility was structured with a 3-year term with two one-year extension options, reserves for renovation costs and the ability to prepay at par after 12 months. NewStar's deal team for the transaction included Tristan Pierce, Zibby Shiver, Adam Sureau, Scott McIsaac, Erica Salkow and Evan Turner.About NewStar Financial, Inc.:

NewStar Financial is a specialized commercial finance company focused principally on meeting the complex financing needs of customers in the middle market through our corporate, commercial real estate, and structured products groups. Our senior banking teams call directly on customers to provide advice and finance a range of strategic transactions that may require some combination of senior secured, second lien and mezzanine financing. NewStar typically works with customers with financing needs of up to $150 million and cash flow as low as $5 million. We target 'hold' positions of up to $35 million, but may also underwrite or arrange transactions up to $100 million for syndications to other lenders.

We are headquartered in Boston MA, with regional offices in Darien CT, Chicago IL, San Francisco CA, San Diego CA, and Charleston SC. In December of 2006, NewStar completed an Initial Public Offering. The Company's shares trade on the NASDAQ under the ticker symbol, NEWS. Please visit our website at for more detailed transaction and contact information.

Corporate Inquiries:

NewStar Financial

Anne G. Bork

(617) 848-4318
Press-Related Inquiries:

Gaffney Bennett Public Relations

Annie Donnelly
(860) 416-1365

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