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BankAtlantic Announces Formation of BankAtlantic Business Capital

Fort Lauderdale, FL – February 7, 2007 – BankAtlantic, “Florida’s Most Convenient Bank” announced the formation of a joint venture to provide businesses with cash through the purchase of accounts receivable. The new division, called BankAtlantic Business Capital LLC was formed in partnership with Florida Corporate Funding of Boca Raton. BankAtlantic Business Capital will allow business customers to improve their cash flow and reduce debt by converting their accounts receivable into cash. The focus of this division will be on the quality of the client's invoices rather than on their balance sheet.

Donald Smith, Vice President of Florida Corporate Funding and a Director of BankAtlantic Business Capital, noted many companies can benefit from accounts receivable factoring and will be able to better run their business through the resources provided by BankAtlantic Business Capital. “There are numerous reasons why a company would benefit by immediately converting receivables to cash rather than waiting 30-60 days or more for payments which are anxiously needed to meet payrolls. Companies which provide a product or service to creditworthy customers, but do not –themselves- have strong enough financial statements to collateralize credit lines are perfect candidates for factoring. Government contractors, vendors to large companies, new businesses or companies emerging from bankruptcy are typical candidates for factoring” he said. “Accounts receivable funding doesn't create a financial liability on the company's balance sheets and allows quick access to working capital.”

Marcia Snyder, Executive Vice President of Commercial Lending at BankAtlantic, emphasized the new division will provide alternatives for customers who face certain challenges. “Business customers who may be experiencing difficulty obtaining loans or moving forward with their business plans due to sluggish cash flow from collections will be attracted to the program at BankAtlantic Business Capital,” she said. “Making cash immediately available allows a business to take advantage of vendor discounts, eliminate credit card debt and accept good customers who just do not pay as quickly as they would like. With a program like ours in place, a business owner can properly focus his or her energies on growth instead of on collections.”

Full information regarding the services of BankAtlantic Business Capital will be available at all BankAtlantic stores.

About BankAtlantic:
BankAtlantic, "Florida's Most Convenient Bank", with $6 billion in assets and more than 90 stores is one of the largest financial institutions headquartered in Florida and provides a comprehensive offering of banking services and products via its broad network of community stores throughout Florida and its online banking division - BankAtlantic.com. BankAtlantic operates more than 250 conveniently located ATMs. BankAtlantic is open 7 days a week* and offers holiday hours, extended weekday hours, including several stores open until midnight, Totally Free Online Banking & Bill Pay, 24/7 Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift. For further information visit www.BankAtlantic.com

* A few locations have limited hours due to building restrictions.

Public Relations:
Hattie Hess, Vice President, Public Relations, Telephone: 954-940-6383, Fax: 954-940-6310, Email: hhess@BankAtlantic.com
Public Relations for BankAtlantic:
Boardroom Communications, Caren Berg, Phone: 954-370-8999, Fax: 954-370-8892, Email: cberg@boardroompr.com

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