SFC Spirit Fin Corp

Spirit Finance Corporation (NYSE: SFC) (the �Company� or �Spirit Finance�) today announced that in connection with the anticipated completion of the merger with Redford Merger Co., which is owned by a consortium of investors including Macquarie Bank Limited, Kaupthing Bank hf. and other independent equity participants (collectively, the �Consortium�), the Company declared a cash dividend of $0.074130 per common share covering the prorated period beginning July 1, 2007 through July 31, 2007. The merger is expected to be completed on July 31, 2007, but remains subject to the satisfaction of closing conditions, including the receipt of consents to the merger from certain of the Company's lenders. If the merger is completed after July 31, 2007, the amount of the dividend will be increased by $0.002391 per common share per day through and including the effective date of the merger. The dividend is payable to stockholders of record as of the close of business on the trading day immediately prior to the effective date of the merger, and will be paid three business days after the record date. Following completion of the merger, the Company�s common stock will no longer be listed for trading on the New York Stock Exchange. About Spirit Finance Corporation Spirit Finance Corporation provides customized, flexible sale/leaseback financing solutions for single tenant, operationally essential real estate assets that are vital to the operations of retail, service and distribution companies. The Company�s core markets include free-standing automotive dealers, parts and service facilities, drugstores, educational facilities, movie theaters, restaurants, supermarkets, and other retail, distribution and service businesses. Additional information about Spirit Finance Corporation is available on its website at www.spiritfinance.com. Forward Looking Statements Statements contained in this press release which are not historical facts are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of words such as �expects,� �plans,� �estimates,� �projects,� �intends,� �believes,� �guidance,� and similar expressions that do not relate to historical matters. These forward-looking statements are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated, due to a number of factors which include, but are not limited to, continued ability to source new investments, changes in interest rates and/or credit spreads, changes in the real estate markets, and other risk factors discussed in Spirit Finance Corporation�s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by the Company with the Securities and Exchange Commission from time to time. All forward-looking statements in this press release are made as of today, based upon information known to management as of the date hereof, and the Company assumes no obligations to update or revise any of its forward-looking statements even if experience or future changes show that indicated results or events will not be realized.