BFC Financial Corporation to Fully Participate in BankAtlantic Bancorp's Proposed Rights Offering.

FORT LAUDERDALE, Fla. -- BankAtlantic Bancorp (NYSE:BBX) announced today that BFC Financial Corporation (Pink Sheets: BFCF) has provided notification of its intent to fully participate in BankAtlantic Bancorp's previously announced rights offering by exercising all of its subscription rights at the subscription price of approximately $30 million.

Under BankAtlantic Bancorp's rights offering, each shareholder of record as of the August 24, 2009 record date has received, at no charge, 4.441 non-transferable subscription rights for each share of BankAtlantic Bancorp Class A Common Stock and Class B Common Stock owned on the record date. Each right entitles the holder to purchase one share of BankAtlantic Bancorp Class A Common Stock at the subscription price of $2.00 per share.

As of the August 24, 2009 record date, BFC Financial Corporation held an ownership interest of approximately 30% of BankAtlantic Bancorp's Common Stock.

About BankAtlantic Bancorp (NYSE:BBX): BankAtlantic Bancorp is a bank holding company and the parent company of BankAtlantic.

About BankAtlantic: BankAtlantic, "Florida's Most Convenient Bank", is one of the largest financial institutions headquartered in Florida. Via its broad network of community branches, online banking division - BankAtlantic.com, and conveniently located ATMs, BankAtlantic provides a full line of personal, small business and commercial banking products and services. BankAtlantic is open 7 days a week with extended weekday hours, Free Online Banking & Bill Pay, a 7-Day Customer Service Center and Change Exchange coin counters.

BankAtlantic Bancorp Contact Info:

Leo Hinkley, Media and Investor Relations Officer

Telephone: [phone]

Email: [e-mail]

BankAtlantic, Florida's Most Convenient Bank, Contact Info:

Media Relations:

Sharon Lyn Telephone: [phone]

Fax: [phone]

Email: [e-mail]

About BFC Financial Corporation:

BFC Financial Corporation's (Pink Sheets: BFCF.PK) current major holdings include its wholly-owned subsidiary, Woodbridge Holdings, LLC (formerly Woodbridge Holdings Corporation), and its subsidiaries, its controlling interest in BankAtlantic Bancorp, Inc. (NYSE:BBX) and its wholly-owned subsidiary, BankAtlantic, and a non-controlling interest in Benihana, Inc. (NASDAQ:BNHN).

Matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that involve substantial risks and uncertainties, including but not limited to the risk that, because of business, economic or market conditions or for any other reasons within BankAtlantic Bancorp's discretion, BankAtlantic Bancorp may decide not to pursue the rights offering and that the rights offering may not be consummated; and the risk that for any reasons within BFC Financial Corporation's ("BFC") discretion, BFC may decide not to pursue or participate fully in BankAtlantic Bancorp rights offering. In addition to the risks and uncertainties identified above, reference is also made to other risks and uncertainties detailed in reports filed by BankAtlantic Bancorp and BFC Financial Corporation with the Securities and Exchange Commission. BankAtlantic Bancorp cautions that the foregoing risks and uncertainties are not exclusive.