Colony Financial Announces Dividend Reinvestment Plan

Colony Financial, Inc. CLNY today announced that it has adopted a Dividend Reinvestment and Direct Stock Purchase Plan. By participating in the Plan, participants may purchase additional shares of the Company's common stock by reinvesting some or all of the cash dividends received on their shares of the Company's common stock. In addition, the Plan permits participants to make optional cash investments of up to $25,000 per month, and, with the Company's prior approval, optional cash investments in excess of $25,000 per month, for the purchase of additional shares of the Company's common stock. The Plan is currently available to electing stockholders with respect to the Company's quarterly dividend for the fourth quarter of 2011.