Atlas Pipeline Partners, L.P. Reports Increase in Earnings for Quarter Ended September 30, 2003.

Energy Editors/Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Nov. 6, 2003

Atlas Pipeline Partners, L.P. (AMEX:APL) (the "Partnership") announces that its revenues for the three months ended September 30, 2003 were $4,199,000 compared to $2,666,800 for the three months ended September 30, 2002. Net income for the three months ended September 30, 2003 was $2,668,600 compared to $1,391,400 for the three months ended September 30, 2002. Net income per limited partner unit - basic and diluted - was $.54 for the three months ended September 30, 2003 compared to $.37 for the three months ended September 30, 2002. Average daily transported volume increased from 51,264 thousand cubic feet (mcf) during the three months ended September 30, 2002 to 54,609 mcf during the three months ended September 30, 2003.

Revenues for the nine months ended September 30, 2003 were $11,876,800 compared to $7,862,500 for the nine months ended September 30, 2002. Net income for the nine months ended September 30, 2003 was $7,266,500 compared to $4,000,000 for the nine months ended September 30, 2002. Net income per limited partner unit - basic and diluted - was $1.72 for the nine months ended September 30, 2003 compared to $1.14 for the nine months ended September 30, 2002. Average daily transported volume increased from 50,510 thousand cubic feet (mcf) during the nine months ended September 30, 2002 to 53,146 mcf during the nine months ended September 30, 2003.

Michael Staines, President of the general partner of the Partnership, stated "We continue to benefit from greater throughput volumes and higher gas prices upon which our revenue is based. Our operating costs, which increased on a period to period comparison, reflect our greater operating activity, acquisition efforts and the follow-on equity offering closed in May 2003. I am very pleased that we were able to achieve earnings of $.54 per unit in the third quarter of 2003, including the additional 1,092,500 common units resulting from that May 2003 offering, compared to $.40 in the third quarter of 2002."

We will webcast our quarterly conference call live on Friday, November 7, 2003 at 8:30 a.m. Eastern time. All interested parties can access the live webcast from the homepage of Resource America, Inc., the parent company of our general partner, by going to www.resourceamerica.com. A replay of the webcast will be available on the same website following the live call starting at 12:00 noon on November 7, 2003 until midnight on Friday, November 21, 2003. A replay is also available telephonically by calling 877 660 6853 and using account # 1628, and conference ID# 81970.

Atlas Pipeline Partners, L.P. owns and operates more than 1,380 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, based on the gross selling price of that gas, from approximately 4,200 wells that are currently connected to the system. For more information, please contact investor relations at [e-mail].

Resource America, Inc. (Nasdaq:REXI), the parent company of Atlas Pipeline Partners, L.P.'s general partner, is a proprietary asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the energy, real estate finance and financial services industries. At June 30, 2003, Resource America, Inc. managed assets of approximately $2.1 billion in these sectors.

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, 2003 Results
                       At A Glance (Unaudited):

                      Three Months Ended        Nine Months Ended
                         September 30,             September 30,
                   ------------------------  ------------------------
                       2003         2002         2003         2002
                   -----------  -----------  -----------  -----------
Revenues:
  Transportation
   and
   compression
   revenue         $ 4,162,600  $ 2,666,100  $11,816,000  $ 7,857,400
  Interest
    income              36,400          700       60,800        5,100
                   -----------  -----------  -----------  -----------
     Total revenues  4,199,000    2,666,800   11,876,800    7,862,500

Costs and expenses:
  Transportation
   and compression     606,900      475,900    1,830,900    1,480,800
  General and
   administrative      435,300      366,500    1,301,000    1,158,000
  Depreciation and
   amortization        438,100      376,000    1,265,800    1,083,700
  Interest              50,100       57,000      212,600      140,000
                   -----------  -----------  -----------  -----------
    Total costs and
     expenses        1,530,400    1,275,400    4,610,300    3,862,500
                   -----------  -----------  -----------  -----------
Net income         $ 2,668,600  $ 1,391,400  $ 7,266,500  $ 4,000,000
                   ===========  ===========  ===========  ===========
Net income -
 limited partners  $ 2,351,600  $ 1,290,200  $ 6,610,800  $ 3,725,400
                   ===========  ===========  ===========  ===========
Net income -
 general partner   $   317,000  $   101,200  $   655,700  $   274,600
                   ===========  ===========  ===========  ===========
Basic and diluted
 net income per
 limited partner
 unit              $       .54  $       .40  $      1.72  $      1.14
                   ===========  ===========  ===========  ===========
Weighted average
 limited partner
 units outstanding   4,354,685    3,262,185    3,854,456    3,262,185
                   ===========  ===========  ===========  ===========
Average daily
 volume throughput
 (mcf) (1)              54,609       51,264       53,146       50,510
                   ===========  ===========  ===========  ===========
Average
 transportation
 fee per (mcf)     $       .83  $       .57  $       .81  $       .57
                   ===========  ===========  ===========  ===========

                                                 At September 30,
                                             ------------------------
                                                2003          2002
                                             -----------  -----------
Total assets                                 $50,832,100  $27,983,100
                                             ===========  ===========
Partners' capital
 (deficit)
   Common
    unitholders                              $43,976,100  $19,394,400
                                             ===========  ===========
   Subordinated
    unitholder                               $   611,100  $   917,500
                                             ===========  ===========
   General partner                           $   359,000  $  (149,800)
                                             ===========  ===========
---------------------------------------
(1)  In units of 1,000 cubic feet (mcf)