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NewStar Financial Closes SouthPark Center Loans in Charlotte, NC

CB Richard Ellis Advises National Investment Fund Sponsored by Trammell Crow Company

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Boston, MA – January 7, 2008 – NewStar Financial, Inc. ("NewStar"), a Boston-based specialty finance company, announces it has provided a $22,100,000 non-recourse, first mortgage loan on One SouthPark Center, a 143,000 square foot office building, and a $11,900,000 non-recourse, first mortgage loan on Two SouthPark Center, a 93,000 square foot office building. Both properties are located in the SouthPark submarket of Charlotte, NC. The properties are owned by a national real estate investment fund sponsored by Trammell Crow Company.Matt Hill, Senior Vice President at Trammell Crow Company, said, "Based on closing one prior loan with NewStar, we expected an efficient and dependable closing process. The NewStar team delivered again and we are pleased to have closed the SouthPark Center loans with them."The sponsor, who purchased the properties in July and August 2007, will utilize the NewStar loans to retire the outstanding acquisition line of credit, as well as fund additional capital for building renovations and leasing costs. The planned capital improvements at One SouthPark Center include upgrading the lobby and common areas, repairs to the parking deck, renovation of the courtyard and upgrades to electrical, fire protection and HVAC systems. The planned capital improvements at Two SouthPark Center include façade enhancement, improvements to the parking lot and renovations of the lobby, bathrooms and elevator lobbies. The facilities were structured with 2-year terms and three 1-year extension options. NewStar provided flexible prepayment options to allow the borrower the ability to sell or refinance upon stabilization.Dan Adkinson, Managing Director and head of Commercial Real Estate at NewStar Financial, remarked, "NewStar is thrilled to be working with a prominent national firm such as Trammell Crow Company. We are confident their team will successfully execute the renovation and lease-up of the two SouthPark Center properties."CB Richard Ellis, Inc. acted as exclusive financial advisor to the borrower and will service the loan on behalf of NewStar. Steve Heffner of CB Richard Ellis Capital Markets added, "Considering the upheaval in the capital markets in the past few months, we were very pleased that NewStar not only accommodated the borrower's request to complete these financings by year end but NewStar was able to close both loans within 35 days of application acceptance."NewStar's deal team for the transaction included Dan Adkinson, Jim Korinek, Zibby Shiver, Jake Clapton, Don Davis and Erica Salkow.About NewStar Financial, Inc.:

NewStar Financial (NASDAQ:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets 'hold' positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. Newstar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, San Francisco CA, San Diego CA, and Charleston SC. Please visit www.newstarfin.com for more detailed transaction and contact information.About Trammell Crow Company:

Trammell Crow Company, founded in 1948, is one of the nation's leading developers and investors in real estate. It has developed or acquired over 500 million square feet of buildings with a value exceeding $50 billion. As of September 30th, 2007, Trammell Crow Company had over $9.6 billion of projects in process or in its pipeline.Trammell Crow Company's teams are dedicated to building value for its clients through creative solutions and highly skilled, locally connected professionals in major cities in the U.S., Canada and India. The company is known for the quality of its people and for the world class facilities they create. Trammell Crow Company serves users of, and investors in, office, industrial, retail, healthcare, student housing, on-airport distribution, multi-family residential, and mixed use projects. Trammell Crow Company has experienced market leaders in 30 major cities. The company is an independently operated subsidiary of CB Richard Ellis Group, Inc., the world's largest commercial real estate services firm (based on 2006 revenues). For those who occupy real estate, Trammell Crow Company can execute the development or acquisition of facilities tailored to meet its clients' needs. For investor clients, the company offers large strategic joint ventures, opportunity funds, and other targeted investment options. For more information visit the company's web site at www.TrammellCrow.com.

Corporate Inquiries:

NewStar Financial
Anne G. Bork
(617) 848-4318
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