Atlas America, Inc. Announces Resource America, Inc. has Set Record Date for Distribution of ATLS Shares to REXI Stockholders.

PHILADELPHIA -- Atlas America, Inc. (Nasdaq:ATLS)(the "Company") announces that its parent company, Resource America, Inc. (Nasdaq:REXI) expects to distribute to its stockholders approximately 0.6 of a share of Atlas America, Inc. common stock for each outstanding share of Resource America common stock owned on the record date of June 24, 2005. The distribution date for the shares will be June 30, 2005. Cash will be delivered in lieu of fractional share interests to Resource America shareholders entitled to receive less than one share of Atlas America common stock. The distribution is structured to be tax-free to Resource America stockholders (other than with respect to any cash received in lieu of fractional shares).

Atlas America, Inc. is an energy company engaged primarily in the development, production and transportation of natural gas in the Appalachian Basin, and operates primarily in eastern Ohio and western Pennsylvania. ATLS is the owner of 100% of the general partner of Atlas Pipeline Partners, L.P. (NYSE:APL) and owns 1,641,026 common units of limited partner interest. APL owns and operates more than 1,440 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio and approximately 2,200 miles of gathering pipeline in southern Oklahoma and northern Texas, as well as gas processing and treating facilities in Velma, Elk City and Prentiss Oklahoma. For more information, please visit our website at www.atlasamerica.com, or contact investor relations at [e-mail].

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.