Colony Financial, Inc. Announces Public Offering of Convertible Senior Notes

  Colony Financial, Inc. Announces Public Offering of Convertible Senior Notes

Business Wire

LOS ANGELES -- April 04, 2013

Colony Financial, Inc. (the "Company") (NYSE: CLNY) today announced its plans
to commence a public offering of $150,000,000 aggregate principal amount of
Convertible Senior Notes due 2023 (the “Notes”). The Company also plans to
grant to the underwriters a 30-day option to purchase up to an additional
$22,500,000 aggregate principal amount of the Notes to cover over-allotments,
if any. The interest rate, conversion rate and other terms of the Notes will
be determined at the time of pricing of the offering.

The Company intends to use the net proceeds from the offering to acquire its
target assets in a manner consistent with its investment strategies and
investment guidelines and for working capital and general corporate purposes.

Goldman, Sachs & Co., BofA Merrill Lynch, Credit Suisse and J.P. Morgan will
act as the joint book-running managers for this offering.

The offering of the Notes will be made under the Company’s automatically
effective shelf registration statement, which was filed with the Securities
and Exchange Commission. The offering will be made only by means of a
prospectus supplement and prospectus, which will be filed with the Securities
and Exchange Commission. Before you invest, you should read the applicable
prospectus supplement and prospectus for more complete information about the
Company and the offering. You may obtain these documents free of charge by
visiting the SEC website at Alternatively, you may obtain copies,
when available, by contacting Goldman, Sachs & Co., at 200 West Street, New
York, NY 10282, Attention: Prospectus Department, by telephone at
1-866-471-2526 or by emailing, BofA Merrill
Lynch, at 222 Broadway, New York, NY 10038, Attention: Prospectus Department
or by emailing, Credit Suisse Securities (USA)
LLC at One Madison Avenue, New York, New York 10010, Attention: Prospectus
Department, by telephone (toll free) at (800) 221-1037 or by e-mailing, or J.P. Morgan Securities LLC c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717 or by telephone at (866) 803-9204.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any securities, nor shall there be any sale of any
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.

About Colony Financial, Inc.

Colony Financial, Inc. is a real estate finance and investment company that is
focused on acquiring, originating and managing a diversified portfolio of real
estate-related debt and equity investments, including single family homes to
be rented to tenants, at attractive risk-adjusted returns. Our investment
portfolio and target assets are primarily composed of interests in: (i)
secondary loans acquired at a discount to par; (ii) new originations; and
(iii) equity in single family homes to be held for investment and rented to
tenants. Secondary debt purchases may include performing, sub-performing or
non-performing loans (including loan-to-own strategies). The Company has
elected to be taxed as a real estate investment trust, or REIT, for U.S.
federal income tax purposes. The Company is a component of the Russell 2000®
and the Russell 3000® indices.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning
of the federal securities laws. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking statements
by the use of forward-looking terminology such as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "estimates,"
"predicts," or "potential" or the negative of these words and phrases or
similar words or phrases which are predictions of or indicate future events or
trends and which do not relate solely to historical matters. Forward-looking
statements involve known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond the Company's control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement.

All forward-looking statements reflect the Company’s good faith beliefs,
assumptions and expectations, but they are not guarantees of future
performance. Furthermore, the Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes in
underlying assumptions or factors, of new information, data or methods, future
events or other changes. For a further discussion of these and other factors
that could cause the Company’s future results to differ materially from any
forward-looking statements, see the section entitled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2012
filed with the Securities and Exchange Commission on March 11, 2013, as
amended by Amendment No. 1 to the Company’s Annual Report on Form 10-K for the
year ended December 31, 2012 filed with the Securities and Exchange Commission
on March 12, 2013, and other risks described in documents subsequently filed
by the Company from time to time with the SEC.


Investor Contact:
Colony Financial, Inc.
Darren Tangen
Chief Operating Officer &
Chief Financial Officer
(310) 552-7230
Addo Communications, Inc.
Lasse Glassen
(310) 829-5400
Media Contact:
Owen Blicksilver P.R., Inc.
Caroline Luz
(203) 656-2829
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