X0202 4 2007-06-01 0 0001045425 RAIT Financial Trust RAS 0001383052 Salmon Jack C/O RAIT FINANCIAL TRUST CIRA CENTRE, 2929 ARCH ST., 17TH FL. PHILADELPHIA PA 19104 0 1 0 0 CFO & Treasurer Common Shares of Beneficial Interest 2007-06-01 5 G 0 E 1000 0.00 D 128017 D Common Shares of Beneficial Interest 2007-06-01 5 G 0 E 1000 0.00 D 127017 D Common Shares of Beneficial Interest 2007-06-01 5 G 0 E 1000 0.00 A 1000 I By children This transaction involved gifts of 500 common shares each to two of the reporting person's children who share the reporting person's household. The reporting person disclaims beneficial ownership of these common shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such common shares for purposes of Section 16 or for any other purpose. This amount includes 10,000 common shares underlying the equivalent number of phantom units. Anders F. Laren, attorney-in-fact 2007-06-13