X0202 4 2006-02-21 0 0001045425 RAIT INVESTMENT TRUST RAS 0001168757 DISTEFANO ELLEN J C/O RAIT PARTNERSHIP, L.P. 1818 MARKET ST., 28TH FL. PHILADELPHIA PA 19103 0 1 0 0 CFO & Executive VP Common Shares of Beneficial Interest 2006-02-21 4 S 0 1251 26.766 D 7298 D Common Shares of Beneficial Interest 6178 I By 401(k) plan Common Shares of Beneficial Interest 32 I By IRA f/b/o child Common Shares of Beneficial Interest 32 I By IRA f/b/o child This amount includes 4,503 common shares underlying the equivalent number of phantom units. The reporting person has transferred certain common shares of RAIT Investment Trust and certain employee stock options exercisable for such common shares to her ex-husband pursuant to a domestic relations order. The reporting person no longer reports as beneficially owned any securities owned by her ex-husband. /s/ Anders F. Laren, attorney-in-fact 2006-02-23