Capital Trust (CT)

Compensation Committee Interlocks and Insider Participation

        During 2007, the compensation committee of the board of directors was comprised of Mr. Polan and Dr. Sagalyn. None of the committee's members was employed by us as an officer or employee during 2007. No committee member had any interlocking relationships requiring disclosure under applicable rules and regulations.

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        For a description of certain relationships and transactions with members of the board of directors or their affiliates, see "—Transactions with Related Persons, Promoters and Certain Control Persons" beginning on page 32.

Compensation Committee Interlocks and Insider Participation

During 2006, the compensation committee of the board of directors was comprised of Mr. Polan and Dr. Sagalyn. None of the committee’s members was employed by us as an officer or employee during 2006. No committee member had any interlocking relationships requiring disclosure under applicable rules and regulations.

For a description of certain relationships and transactions with members of the board of directors or their affiliates, see “—Transactions with Related Persons, Promoters and Certain Control Persons” beginning on page 30.

Compensation Committee Interlocks and Insider Participation

During 2005, the compensation committee of the board of directors was comprised of Mr. Polan and Dr. Sagalyn; Jeffrey A. Altman served on the committee but only until his resignation from our board of directors effective February 7, 2005. None of the committee’s members was employed by us as an officer or employee during 2005. No committee member had any interlocking relationships requiring disclosure under applicable rules and regulations.

For a description of certain relationships and transactions with members of the board of directors or their affiliates, see “—Certain Relationships and Related Transactions” beginning on page 27.