Exhibit 99.1



                              [DTCC Letterhead]

                                                          For Immediate Release

CONTACT:  Frederick L. White
          773-380-1600



         DEERFIELD TRIARC CAPITAL CORP. FILES REGISTRATION STATEMENT
                  FOR INITIAL PUBLIC OFFERING OF ITS STOCK


     Chicago,  IL,  April 8, 2005 -  Deerfield  Triarc  Capital  Corp.  ("DTCC")
announced  that  it has  filed a  registration  statement  with  the SEC for the
initial public offering of $450 million of its common stock. DTCC expects that a
substantial  majority of the stock to be offered  will be newly issued stock and
that the  balance  will be the stock of selling  stockholders.  DTCC  intends to
qualify  as a real  estate  investment  trust  (REIT)  for  federal  income  tax
purposes.  It invests in a diversified  portfolio of real-estate  securities and
various  alternative  investments,  such as  syndicated  bank  loans,  corporate
mezzanine loans, and private equity.  DTCC is an  externally-managed  REIT, with
Deerfield  Capital  Management  LLC as its  manager.  DTCC began  operations  in
December 2004.

     Copies of the prospectus for the offering, when available,  may be obtained
from Credit Suisse First Boston LLC, Eleven Madison Avenue,  New York, NY 10010,
Deutsche  Bank  Securities  Inc., 60 Wall Street,  New York,  NY 10005,  and UBS
Securities LLC, 299 Park Avenue, New York, NY 10171.

     A registration  statement  relating to these securities has been filed with
the Securities and Exchange  Commission but has not yet become effective.  These
securities  may not be sold nor may offers to buy be accepted  prior to the time
the  registration  statement  becomes  effective.  This press  release shall not
constitute  an offer to sell or the  solicitation  of an offer to buy nor  shall
there be any sale of these  securities  in any state in which  such offer to buy
nor  shall  there be any sale of these  securities  in any  state in which  such
offer,  solicitation  or  sale  would  be  unlawful  prior  to  registration  or
qualification under the securities laws of any such state.