Exhibit 99.1


[CAPITAL TRUST LOGO]

Contact:      Rubenstein Associates
              Robert Solomon: (212) 843-8050


                    Edward S. Hyman Joins Capital Trust Board
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NEW YORK, NY - March 30, 2005 - Capital Trust,  Inc. (NYSE:  CT) today announced
that Edward S. Hyman has been elected to the Company's Board of Directors.

"We are  delighted  to welcome Ed Hyman to the Capital  Trust  Board,"  said Sam
Zell,  Chairman.  "His  perspective  and  insights  will  be  invaluable  to our
company."

Ed Hyman has been ranked  Institutional  Investor's #1 Wall Street economist for
each of the past 25 years. His research reports on the US and foreign  economies
are  widely  quoted  in  the  press  and  followed  by  institutional  investors
worldwide.  Ed is Chairman of ISI Group Inc., a  broker-dealer,  and ISI Inc., a
registered  investment advisor,  which he founded in 1991. Prior to forming ISI,
Ed was Vice Chairman and a member of the Board of C.J.  Lawrence Inc.,  which he
joined in 1972.


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Capital Trust,  Inc. is a finance and investment  management  company focused on
the  commercial  real estate  industry and  headquartered  in New York. To date,
Capital Trust, for its own account or for funds under management, has originated
$4.7 billion of commercial real estate mezzanine investments.