X0202 4 2007-08-06 0 0001045425 RAIT Financial Trust RAS 0001383119 Licht Raphael C/O RAIT FINANCIAL TRUST CIRA CENTRE, 2929 ARCH ST., 17TH FL. PHILADELPHIA PA 19104 0 1 0 0 CAO, CLO & Secretary Common Shares of Beneficial Interest 2007-08-06 4 P 0 100 6.25 A 51385 D Common Shares of Beneficial Interest 2007-08-06 4 P 0 200 6.27 A 51585 D Common Shares of Beneficial Interest 2007-08-06 4 P 0 900 6.28 A 52485 D Common Shares of Beneficial Interest 2007-08-06 4 P 0 600 6.29 A 53085 D Common Shares of Beneficial Interest 2007-08-06 4 P 0 700 6.30 A 53785 D This amount includes 16,000 common shares underlying the equivalent number of phantom units. Excludes 483 common shares held by the reporting person's father. The reporting person disclaims beneficial ownership of the common shares held by the reporting person's father. Anders F. Laren, attorney-in-fact 2007-08-06