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BankAtlantic’s Commercial Lending Group Announces $8.68 Million Dollar Closing for Mariner Court, LLC.

Fort Lauderdale, FL, – February 15, 2006 – BankAtlantic, Florida’s Most Convenient Bank, today announced the completion of a $8.68 million loan closing for Mariner Court, a new townhouse project by Phoenix Industries.

$2.68 million of the loan will fund the acquisition and development costs for 1.93 acres of land and the additional $6 million construction revolver loan will fund construction financing for a planned two-story, 16-unit luxury residential villa project known as Mariner Court. The project is located on the northeast corner of Federal Highway and Anchorage Drive in North Palm Beach, Palm Beach County, Florida.

Contact Info:
Amy Engelberg
BankAtlantic Commercial Lending Division
Boca Raton
Telephone: (561) 451-8719 ext. 4

About BankAtlantic:
BankAtlantic, "Florida's Most Convenient Bank", with $6 billion in assets and 78 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 has 78 stores and operates more than 200 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, caren@boardroompr.com.

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