Newcastle Announces Tax Treatment of 2012 Dividends

  Newcastle Announces Tax Treatment of 2012 Dividends

Business Wire

NEW YORK -- January 31, 2013

Newcastle Investment Corp. (NYSE: NCT) today announced the tax treatment of
its 2012 common and preferred stock dividend payments.

Common Stock Dividends

During 2012, taxable dividends for Newcastle Investment Corp.'s common stock
(CUSIP# 65105M108) were $0.84 per share. The entire fourth quarter 2012 common
stock dividend was treated as having been received by shareholders and taxable
for 2012. The following table summarizes the tax treatment for the 2012 common
stock dividend payments.

       Declaration   Record     Pay        Cash           Taxable                Long-Term   Return
                                                                                             of
       Date          Date       Date       Distribution   As         Qualified   Capital     Capital
                                                          Ordinary               Gain
1st
Q      03/14/12      03/26/12   04/30/12   0.200000       0.200000   0.000000    0.000000    0.000000
2012
2nd
Q      06/13/12      06/25/12   07/31/12   0.200000       0.200000   0.000000    0.000000    0.000000
2012
3rd
Q      09/19/12      10/01/12   10/31/12   0.220000       0.220000   0.000000    0.000000    0.000000
2012
4th
Q      12/18/12      12/28/12   01/31/13   0.220000       0.220000   0.000000    0.000000    0.000000
2012
                                Totals     0.840000       0.840000   0.000000    0.000000    0.000000

Series B Preferred Stock Dividends

During 2012, taxable dividends for Newcastle Investment Corp.'s Series B
preferred stock (CUSIP# 65105M207) were $2.437500 per share. The entire fourth
quarter 2012 Series B preferred stock dividend was treated as having been
received by shareholders and taxable for 2012. The following table summarizes
the tax treatment for the 2012 Series B preferred stock dividend payments.

       Declaration   Record     Pay        Cash           Taxable                Long-Term   Return
                                                                                             of
       Date          Date       Date       Distribution   As         Qualified   Capital     Capital
                                                          Ordinary               Gain
1st
Q      03/14/12      03/26/12   04/30/12   0.609375       0.609375   0.000000    0.000000    0.000000
2012
2nd
Q      06/13/12      07/02/12   07/31/12   0.609375       0.609375   0.000000    0.000000    0.000000
2012
3rd
Q      09/19/12      10/01/12   10/31/12   0.609375       0.609375   0.000000    0.000000    0.000000
2012
4th
Q      12/18/12      12/28/12   01/31/13   0.609375       0.609375   0.000000    0.000000    0.000000
2012
                                Totals     2.437500       2.437500   0.000000    0.000000    0.000000

Series C Preferred Stock Dividends

During 2012, taxable dividends for Newcastle Investment Corp.'s Series C
preferred stock (CUSIP# 65105M306) were $2.012500 per share. The entire fourth
quarter 2012 Series C preferred stock dividend was treated as having been
received by shareholders and taxable for 2012. The following table summarizes
the tax treatment for the 2012 Series C preferred stock dividend payments.

       Declaration   Record     Pay        Cash           Taxable                Long-Term   Return
                                                                                             of
       Date          Date       Date       Distribution   As         Qualified   Capital     Capital
                                                          Ordinary               Gain
1st
Q      03/14/12      03/26/12   04/30/12   0.503125       0.503125   0.000000    0.000000    0.000000
2012
2nd
Q      06/13/12      07/02/12   07/31/12   0.503125       0.503125   0.000000    0.000000    0.000000
2012
3rd
Q      09/19/12      10/01/12   10/31/12   0.503125       0.503125   0.000000    0.000000    0.000000
2012
4th
Q      12/18/12      12/28/12   01/31/13   0.503125       0.503125   0.000000    0.000000    0.000000
2012
                                Totals     2.012500       2.012500   0.000000    0.000000    0.000000

Series D Preferred Stock Dividends

During 2012, taxable dividends for Newcastle Investment Corp.'s Series D
preferred stock (CUSIP# 65105M405) were $2.093752 per share. The entire fourth
quarter 2012 Series D preferred stock dividend was treated as having been
received by shareholders and taxable for 2012. The following table summarizes
the tax treatment for the 2012 Series D preferred stock dividend payments.

       Declaration   Record     Pay        Cash           Taxable                Long-Term   Return
                                                                                             of
       Date          Date       Date       Distribution   As         Qualified   Capital     Capital
                                                          Ordinary               Gain
1st
Q      03/14/12      03/26/12   04/30/12   0.523438       0.523438   0.000000    0.000000    0.000000
2012
2nd
Q      06/13/12      07/02/12   07/31/12   0.523438       0.523438   0.000000    0.000000    0.000000
2012
3rd
Q      09/19/12      10/01/12   10/31/12   0.523438       0.523438   0.000000    0.000000    0.000000
2012
4th
Q      12/18/12      12/28/12   01/31/13   0.523438       0.523438   0.000000    0.000000    0.000000
2012
                                Totals     2.093752       2.093752   0.000000    0.000000    0.000000

The data provided in this press release is provided for informational purposes
only and does not constitute tax advice. Stockholders are urged to consult
their own tax advisors regarding any issues or decisions regarding the proper
tax treatment of their shares of Newcastle Investment Corp.

ABOUT NEWCASTLE

Newcastle focuses on opportunistically investing in, and actively managing,
real estate related assets. The Company primarily invests in two distinct
areas: (1) Residential Servicing and Securities and (2) Commercial Real Estate
Debt and Other Assets. The Company is organized and conducts its operations to
qualify as a real estate investment trust (REIT) for federal income tax
purposes. The Company is managed by an affiliate of Fortress Investment Group
LLC, a global investment management firm.

Contact:

Newcastle Investment Corp.
Investor Relations, 212-479-3195