X0202 4 2006-10-26 0 0001175483 NEWCASTLE INVESTMENT CORP NCT 0001245524 ASHLEY JONATHAN 1345 AVENUE OF THE AMERICAS NEW YORK NY 10105 0 1 0 0 Chief Operating Officer Stock Option (right to buy) 29.42 2006-10-26 4 J 0 10200 0 A 2006-10-26 2016-10-26 Common stock, par value $0.01 10200 10200 D Stock Option (right to buy) 31.30 2007-01-01 4 J 0 14520 0 A 2007-01-01 2017-01-01 Common stock, par value $0.01 14520 14520 D Stock Option (right to buy) 25.75 2007-03-14 4 J 0 20700 0 A 2004-05-19 2014-05-19 Common stock, par value $0.01 20700 20700 D Stock Option (right to buy) 29.60 2007-03-15 4 J 0 19800 0 A 2005-01-06 2015-01-06 Common stock, par value $0.01 19800 19800 D Each of the reported options were automatically granted by the issuer to Fortress Operating Entity I ("FOE I," which was formerly known as Fortress Investment Holdings LLC) pursuant to the terms of the issuer's Nonqualified Stock Option and Incentive Award Plan and simultaneously assigned by FOE I to the reporting person, who assumed the options for no value. Each of the reported options were automatically granted by the issuer to FOE I pursuant to the terms of the issuer's Nonqualified Stock Option and Incentive Award Plan on May 19, 2004 and January 06, 2005, respectively. On March 14, and March 15, 2007, respectively, FOE I assigned such options to the reporting person, who assumed the options for no value. Options were fully vested on date of initial grant from the issuer to FOE I and became exercisable in thirty equal monthly installments beginning on the first of the month following the month in which the options were granted (indicated in the "date exercisable" column). /s/ Jonathan Ashley 2007-04-13