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Colony Financial fIRST quarter 2010
Ex-dividend Date CORRECTION

Los Angeles, CA, March 25, 2010/Business Wire/ - As a correction to the press release issued March 24, 2010 by Colony Financial, Inc. (NYSE: CLNY) (the "Company") regarding the declaration of the Company's first quarter 2010 dividend, due to an NYSE holiday, the ex-dividend date will be March 31, 2010 instead of April 1, 2010.  The dividend will continue to be paid on April 15, 2010 to stockholders of record on April 5, 2010.

About Colony Financial, Inc.
Colony Financial is a real estate finance company that is focused primarily on acquiring, originating and managing commercial mortgage loans, which may be performing, sub-performing or non-performing loans (including loan-to-own strategies), other commercial real estate-related debt investments, CMBS, REO properties and other real estate-related assets. Colony Financial intends to elect and qualify to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes. For more information, visit www.colonyfinancial.com.

Investor Contact:
Colony Financial, Inc.
Darren Tangen
Chief Financial Officer
(310) 552-7230

Addo Communications, Inc.
Andrew Blazier
(310) 829-5400
andrewb@addocommunications.com