Apollo Commercial Real Estate Finance, Inc. Announces 2012 Dividend Income Tax Treatment

NEW YORK, NY -- (MARKETWIRE) -- 01/30/13 -- Apollo Commercial Real Estate Finance, Inc. (the "Company" or "ARI") (NYSE: ARI) today announced the estimated Federal income tax treatment of the Company's 2012 distributions on its common stock (CUSIP #03762U105) and on its 8.625% Series A Cumulative Redeemable Perpetual Preferred stock (CUSIP #03762U402).

The Federal income tax classification of the 2012 distributions on the Company's common stock as it is expected to be reported on Form 1099-DIV is set forth in the following table:

Record Date Payable Date Total Distribution Per Share Ordinary Income Per Share Return of Capital Per Share Capital Gain Per Share
12/31/2011 01/12/2012 $0.40 0.3660 0.0270 0.0070
03/31/2012 04/12/2012 $0.40 0.3660 0.0270 0.0070
06/29/2012 07/12/2012 $0.40 0.3660 0.0270 0.0070
09/28/2012 10/12/2012 $0.40 0.3660 0.0270 0.0070

The Federal income tax classification of the 2012 distributions on the Company's 8.625% Series A Cumulative Redeemable Perpetual Preferred stock as it is expected to be reported on Form 1099-DIV is set forth in the following table:

Record Date Payable Date Total Distribution Per Share Ordinary Income Per Share Return of Capital Per Share Capital Gain Per Share
09/28/2012 10/15/2012 $0.4432 0.4340 - 0.0092
12/31/2012 01/15/2013 $0.5391 0.4504 - 0.0887

Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company's distributions.

About Apollo Commercial Real Estate Finance, Inc.
 Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a commercial mortgage real estate investment trust that primarily originates, invests in, acquires and manages senior performing commercial real estate mortgage loans, commercial mortgage-backed securities and other commercial real estate-related debt investments throughout the U.S. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, LLC, a leading global alternative investment manager with $110 billion of assets under management at September 30, 2012.

Additional information can be found on the Company's website at www.apolloreit.com.

Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These forward-looking statements include information about possible or assumed future results of the Company's business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: the return on equity; the yield on investments; the ability to borrow to finance assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company's beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:
Hilary Ginsberg
Investor Relations
(212) 822-0767


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