X0202 4 2005-06-24 1 0001273801 NORTHSTAR REALTY NRF 0001090963 SAB CAPITAL PARTNERS LP 712 FIFTH AVENUE, 42ND FLOOR NEW YORK NY 10019 0 0 0 1 Former 10% Owner 0001135018 SAB CAPITAL ADVISORS LLC 712 FIFTH AVENUE, 42ND FLOOR NEW YORK NY 10019 0 0 0 1 Former 10% Owner 0001328174 SAB OVERSEAS MASTER FUND, L.P. 712 FIFTH AVENUE, 42ND FLOOR NEW YORK NY 10019 0 0 0 1 Former 10% Owner 0001251940 SAB CAPITAL PARTNERS II LP 712 FIFTH AVENUE, 42ND FLOOR NEW YORK NY 10019 0 0 0 1 Former 10% Owner 0001251933 BOMMER SCOTT A 712 FIFTH AVENUE, 42ND FLOOR NEW YORK NY 0 0 0 1 Former 10% Owner Common Stock 2005-06-24 4 S 0 10000 10.75 D 2118500 I See Footnote The shares of Common Stock to which this note relates are held directly by SAB Capital Partners, L.P., a Delaware limited partnership ("SAB"), as to 944,905 shares; SAB Capital Partners II, L.P., a Delaware limited partnership ("SAB II"), as to 18,920 shares; and SAB Overseas Master Fund, L.P., a Cayman Islands exempted limited partnership ("SAB Overseas"), as to 1,154,675 shares. The shares of Common Stock currently held by SAB Overseas, and the shares of Common Stock sold as reported herein, were transferred to SAB Overseas by SAB Overseas Fund, Ltd., its sole limited partner. As noted in footnote (2), below, the investment portfolios of SAB Overseas and SAB Overseas Fund, Ltd. are each under the control of Scott A. Bommer. SAB Capital Advisors, L.L.C., a Delaware limited liability company (the "General Partner"), serves as the general partner of, and has investment direction over the securities held by, SAB, SAB II and SAB Overseas. Scott A. Bommer serves as the managing member of the General Partner, and in that capacity directs its operation. Mr. Bommer also serves as the managing member of SAB Capital Management, L.L.C., a Delaware limited liability company which serves as the general partner to SAB Overseas Capital Management, L.P., a Delaware limited partnership which in turn serves as the investment manager for, and has investment direction over the securities held by, SAB Overseas Fund, Ltd. Each of the reporting persons disclaims beneficial ownership of the securities to which this Form 4 relates for the purpose of Section 16 of the Securities and Exchange Act of 1934, as amended, except as to such extent of the reporting persons' pecuniary interest in the securities. /s/ Scott A. Bommer 2005-06-28