Atlas Pipeline Partners, L.P. Reports Earnings for Quarter Ended September 30, 2002.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Nov. 13, 2002

Atlas Pipeline Partners, L.P. (AMEX:APL) (the "Partnership") announces that its net income for the three months ended September 30, 2002 was $1.391 million as compared to $1.357 million for the similar period of 2001.

Net income per limited partner unit, however, increased 8.1% to $.40 per limited partner unit compared to $.37 per limited partner unit, for the similar period of 2001 due primarily to a reduction in net income attributable to the general partner.

Net income for the nine months ended September 30, 2002 was $4.0 million, equivalent to $1.14 per limited partner unit, compared to $6.9 million and $1.84 per limited partner unit for the nine months ended September 30, 2001. Net income during the first nine months of 2001 benefited from unusually high gas prices experienced in our operating area.

Natural gas volume throughput for the three months ended September 30, 2002 averaged 51,264 mcf/day, an increase of 8.6% over the average throughput of 47,208 mcf/day in the corresponding period of 2001. Gas throughput for the nine months ended September 30, 2002 averaged 50,510 mcf/day, an increase of 9.4% over the average throughput of 46,160 mcf/day in the similar period of 2001.

Michael L. Staines, President and Chief Operating Officer, stated: "We continue to demonstrate our ability to increase throughput volumes through the addition of wells operated by an affiliate of our general partner and by third party operators. Recent drilling success in Crawford County, Pennsylvania has resulted in the need for us to significantly upgrade our gathering system in that area. We have begun the initial stages of this upgrade and I expect to see its completion in the first quarter of 2003. Our current delivery onto the Tennessee Gas Pipeline (an El Paso company) interstate transmission line in Crawford County is currently approximately 1.5 million cubic feet of gas per day. The completion of the system upgrade, at a cost of approximately $1.75 million, will increase our delivery capability to approximately 8 million cubic feet of gas per day. I expect we will see delivery in excess of 5 million cubic feet of gas per day before the end of 2003.

With the strength and recent relative stability of gas prices in our operating region, on which our revenue is based, I expect to see continued growth in our throughput, revenue and income. Our primary objective is to continue to provide an attractive and growing quarterly tax advantaged distribution to our unit holders.

On July 31, 2002 we terminated our January 2002 agreement to acquire Triton Coal Company LLC and in accordance with the terms of the agreement, anticipated that Triton would reimburse us for $1.2 million of the $1.4 million in transaction related costs that we have incurred. In fact, Triton has made the fist of four quarterly installment payments."

Atlas Pipeline Partners, L.P. owns and operates approximately 1,350 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio. The Partnership is paid a fee for the natural gas volumes that are gathered and transported through its pipeline system from approximately 4,000 wells that are currently connected to the system.

Resource America, Inc. (Nasdaq:REXI), through its wholly owned subsidiary, Atlas America, Inc., is the owner of the Partnership's general partner and a 50.3% owner of the Partnership's common units. Atlas America, Inc., owns an interest in and operates approximately 3,550 of the wells currently connected to the Partnership's system.

The Partnership will host a conference call on Thursday, November 14, 2002 at 8:30 a.m. EDT to review these results. A simultaneous webcast of the call may be accessed over the Internet at www.resourceamerica.com. To listen, please go to the website 5 minutes in advance of the call. The webcast will be archived for replay on the above website.

Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties. The Partnership's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of many factors, including competition within the energy industry, climactic conditions, volatility in the price of gas in the Appalachian area, actual versus projected drilling activity, volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.

Third Fiscal Quarter and Nine Months Ended September 30, 2002 Results
At A Glance:


                         Three Months Ended       Nine Months Ended
                            September 30,           September 30,
                      ------------------------------------------------
                          2002        2001        2002        2001
                      ----------- ----------- ----------- -----------
Revenues:
  Transportation and
   compression revenue $2,666,100  $2,577,100  $7,857,400 $10,260,000
  Interest income             700      10,000       5,100      31,900
                      ----------- ----------- ----------- -----------
    Total revenues      2,666,800   2,587,100   7,862,500  10,291,900

Costs and expenses:
  Transportation and
   compression            475,900     548,000   1,480,800   1,411,100
  General and
   administrative         366,500     287,300   1,158,000     839,300
  Depreciation and
   amortization           376,000     350,400   1,083,700   1,013,700
  Interest                 57,000      44,500     140,000     135,400
                      ----------- ----------- ----------- -----------
    Total costs and
     expenses           1,275,400   1,230,200   3,862,500   3,399,500
                      ----------- ----------- ----------- -----------

Net income             $1,391,400  $1,356,900  $4,000,000  $6,892,400
                      =========== =========== =========== ===========

Net income - limited
 partners              $1,290,200  $1,195,100  $3,725,400  $5,983,700
                      =========== =========== =========== ===========

Net income - general
 partner                 $101,200    $161,800    $274,600    $908,700
                      =========== =========== =========== ===========

Basic and diluted net
 income per limited
 partner unit                $.40        $.37       $1.14       $1.84
                      =========== =========== =========== ===========

Weighted average
 limited partner units
 outstanding            3,262,185   3,262,185   3,262,185   3,246,859
                      =========== =========== =========== ===========

Average daily volume
 throughput (mcf) (1)      51,264      47,208      50,510      46,160
                      =========== =========== =========== ===========

Average transportation
 fee per mcf                 $.57        $.59        $.57         .81
                      =========== =========== =========== ===========

Total assets                                  $27,983,100 $26,366,600
                                              =========== ===========

Partners' capital
 (deficit)

  Common unit holders                         $19,394,400 $20,315,900
                                              =========== ===========

  Subordinated unit
   holders                                       $917,500  $1,850,300
                                              =========== ===========

  General partner                               $(149,800)  $(106,200)
                                              =========== ===========

(1) In units of 1,000 cubic feet (mcf)