Free hydroxyl groups of glucose monomer of starch substituted with steroyl group by chemical modification leads to the formation of starch stearate (SS). Modification changes the nature from hydrophilic to hydrophobic and thus used as controlled release excipient. In present study, SS was evaluated as release modifying polymer and MCC, Lactose, Dicalcium phosphate (DCP) and combinations of these were used to evaluate effect on drug release of Verapamil hydrochloride (VH) and Diclofenac sodium (DS). FT-IR studies of polymer with VH and DS have shown no significant drug:polymer interactions. Decrease in in-vitro drug dissolution was observed with increase in polymer concentration. Cumulative drug released for DS (hydrophobic) was more sustained than hydrophilic drug (VH). Drug release from formulations containing 30%w/w of SS after 8h was 81.61 (for VH) and 25.08% (for DS). DCP retarded drug release more when used alone. After 8h % drug release from formulations containing 30%w/w of SS was 49.86 (VH) and 24.19 (DS). The use of lactose alone increased the drug release and combination of DCP:Lactose in equal proportion with 15 %w/w SS sustained more i.e. 42.62% (VH) drug release at the end of 8h.