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BankAtlantic Launches New Commercial Mortgage Banking Division

Fort Lauderdale – August 23, 2006 - BankAtlantic, Florida’s Most Convenient Bank, announced that it has launched Commercial Mortgage Banking (CMB), a new division of BankAtlantic Commercial Lending focusing on long-term, non-recourse, fixed rate mortgages for acquisition and refinancing of income-producing commercial real estate. This division will now allow BankAtlantic to service customers in need of a long-term commercial mortgage loan while complementing the bank’s existing commercial banking loan production.

Neil Efron, Senior Vice President of CMB will head up the division, coordinating operations and new business development from the bank’s corporate office in Fort Lauderdale. Efron is joined by another commercial mortgage professional, Randall Gilbert, Assistant Vice President of CMB based out of Orlando, Florida.

“The launch of Commercial Mortgage Banking is a shining example of BankAtlantic’s commitment to superior customer service,” said Marcia Snyder, Executive Vice President, Commercial Lending. “This new division allows us to expand our mortgage offerings into the long-term commercial loan arena—adding another dimension of customer service and convenience to the bank.”

Commercial Mortgage Banking functions as a partner with customers desiring long-term commercial mortgage loans, utilizing its relationships with a network of lenders to secure the best permanent financing. In addition, CMB’s fixed-rate options are not driven by the Wall Street Prime, like retail loans. Instead, commercial mortgage loans are tied to the U.S. Treasury, which is a benefit to those looking into long-term loan options.

The loans are non-recourse, meaning the borrower is not personally tied to the loan, which is an advantage for borrowers who do not want a liability on their financial records. CMB finances any type of property throughout Florida including apartments, mobile home parks, hotels, shopping centers and office space.

About BankAtlantic:
BankAtlantic, "Florida's Most Convenient Bank", with $6 billion in assets and over 80 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 7 Day Branch Banking due to building restrictions.

Contacts:
Hattie Hess, BankAtlantic, 954-940-6383, hhess@bankatlantic.com
Caren Berg, Boardroom Communications, 954-370-8999, cberg@boardroompr.com

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