SFO Merrill Lynch

JACKSONVILLE, Fla., March 7 /PRNewswire-FirstCall/ -- Sunset Financial Resources, Inc. (NYSE:SFO), a specialty finance REIT, today announced that its Board of Directors has declared a quarterly dividend of $0.03 per common share. The dividend is payable on March 30, 2006 to shareholders of record on March 16, 2006. About Sunset Financial Resources, Inc. Sunset Financial Resources, Inc. is a self-managed real estate investment trust (REIT) that went public in March 2004. Sunset Financial Resources seeks to deliver attractive dividend income and steady growth to its shareholders through the acquisition and management of a portfolio of high quality residential mortgage loans and well-secured commercial mortgage bridge loans in the United States. Certain statements in this news release may constitute "forward-looking statements" within the meaning of the federal securities laws and involve risks, uncertainties and other factors, which may cause the actual performance of Sunset Financial Resources, Inc. to be materially different from the performance expressed or implied by such statements. These risks include the failure of the Company to successfully execute its business plan, gain access to additional financing, the availability of additional loan portfolios for future acquisition, continued qualification as a REIT, the cost of capital, as well as the additional risks and uncertainties detailed in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. DATASOURCE: Sunset Financial Resources, Inc. CONTACT: Stacy Riffe, Chief Financial Officer of Sunset Financial Resources, Inc., +1-904-425-4365, ; or Jeffrey Goldberger/Michael Cimini, +1-1-212-896-1249, +1-212-896-1233, , , both of KCSA Worldwide, both for Sunset Financial Resources, Inc.

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