Newcastle Investment Corp. announced the appointment of Clifford Press as a director of the company. Mr. Press will serve as a Class III director with a term expiring in 2017 and will stand for election at the company's 2016 annual meeting of stockholders.

Mr. Press was appointed pursuant to an agreement with a stockholder group of the Company, including BLR Partners LP (collectively, the 'BLR Group'). Clifford Press has been a Managing Member of Oliver Press Partners, LLC, an investment advisory firm, since March 2005.