NEW YORK, Nov. 2, 2012 /PRNewswire/ -- Capital Trust, Inc. (NYSE: CT) (" Capital Trust") today announced that Capital Trust's Board of Directors designated Wednesday, December 19, 2012 as the date of the special meeting of stockholders to consider and vote on proposals to approve its previously announced transactions with an affiliate of Blackstone (NYSE: BX) (the " Transactions"). The Board has set the close of business on November 12, 2012 as the record date for stockholders of record entitled to vote at the special meeting. As contemplated by the agreement governing the Transactions, the close of business on November 12, 2012 will also serve as the record date for stockholders entitled to receive the previously announced special cash dividend of $2.00 per share, which was declared for payment to stockholders of record as of that date. Payment of the special dividend is contingent upon the consummation of the Transactions and will not be paid unless all of the proposals relating to the Transactions are approved by stockholders at the special meeting. The payment date for the special dividend will not be set until completion of the Transactions. As explained below, Capital Trust's common stock will trade with "due-bills" representing an assignment of the right to receive the special dividend and will not trade ex-dividend until the first business day after the special dividend payment date. As required by the New York Stock Exchange's procedures, Capital Trust's common stock will trade with due-bills representing the special dividend beginning on November 7, 2012 (three business days prior to the special dividend record date) through the payment date that will be set upon completion of the Transactions. The payment date for the special dividend is expected to be as soon as practicable following the December 19th special meeting and the completion of the transactions. Stockholders who sell their shares on or before the payment date will not be entitled to receive the special dividend. Due-bills obligate a seller to deliver the dividend to the buyer. The due-bill obligations are settled customarily between the brokers representing the buyers and sellers of the stock. Capital Trust has no obligations for either the amount of the due-bill or the processing of the due-bill. Buyers and sellers of Capital Trust's common stock should consult their broker before trading in Capital Trust's common stock to be sure they understand the effect of the NYSE's due-bill procedures.