NFI Novastar Finl

NovaStar Financial, Inc. (NYSE: NFI), a residential mortgage lender and portfolio investor, will present at Morgan Stanley's Small Cap Executive Conference on June 15, 2006, at 8:45 a.m. Eastern time. Greg Metz, NovaStar's chief financial officer, will address the conference. A live webcast of the presentation and presentation slides may be accessed at www.novastarmortgage.com. The slide presentation will be made available on June 14, 2006. About NovaStar NovaStar Financial, Inc. (NYSE: NFI) is one of the nation's leading lenders and investors in residential mortgages. The company specializes in single-family, nonconforming mortgages, involving borrowers whose loan size, credit details or other circumstances fall outside conventional mortgage agency guidelines. A Real Estate Investment Trust (REIT) founded in 1996, NovaStar efficiently brings together the capital markets, a nationwide network of mortgage brokers and American families financing their homes. NovaStar is headquartered in Kansas City, Missouri, and has lending operations nationwide.