Colony Financial, Inc. Prices Public Offering Of Common Stock

Colony Financial, Inc. (the "Company") (NYSE:CLNY) today announced that it has priced a public offering of 10,000,000 shares of common stock. The Company also granted to the underwriters an option to purchase up to an additional 1,500,000 shares. The offering is subject to customary closing conditions and is expected to close on or about November 1, 2013. On October 28, 2013, the last reported sales price of the Company’s common stock on the New York Stock Exchange under the symbol “CLNY” was $21.00 per share.

The Company expects to use a portion of the net proceeds from this offering to repay amounts outstanding under its revolving credit facility, and to use the remainder of the net proceeds from this 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.

J.P. Morgan and Barclays are acting as joint book-running managers for this offering. The underwriters may offer the shares at prevailing market prices or otherwise from time to time through the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise.

The offering of the shares 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 has been filed with the Securities and Exchange Commission. A copy of the prospectus supplement and prospectus related to the offering can be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204, or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Barclaysprospectus@broadridge.com, or by calling (888) 603-5847.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or 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.

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