BankUnited Board of Directors Increases Stock Purchase Program.

CORAL GABLES, Fla. -- BankUnited Financial Corporation (NASDAQ:BKUNA), parent of BankUnited FSB, announced today that its board of directors has authorized a 600,000 share increase in its Class A Common Stock purchase program.

The total number of shares that may now be purchased under the program is 3.6 million shares. As of Dec. 31, 2006, the company had already purchased 552,951 shares of its Class A Common Stock. Under the program, BankUnited may purchase shares of its Class A Common Stock in open market transactions, from time to time, at such prices and on such conditions as the executive committee of the board determines to be advantageous. This plan does not have an expiration date.

Alfred R.Camner, BankUnited's chairman and chief executive officer, said, "Based on our strong first-quarter earnings and continued confidence in our business plan, the board has increased the total number of Class A Common shares that the executive committee may determine to repurchase."

About BankUnited

BankUnited Financial Corp. is the holding company for BankUnited FSB, the largest banking institution headquartered in Florida. At Dec. 31, 2006, BankUnited had assets of $13.8 billion.

Serving customers through 78 branches in 11 coastal counties, including Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, Collier, Charlotte, Manatee, Hillsborough, Sarasota and Lee, BankUnited offers a full spectrum of consumer and commercial banking products and services, including online products that can be accessed through http://www.bankunited.com. For additional information, call [phone].

Forward-Looking Statements 

This press release may contain certain forward-looking statements, which are based on management's expectations regarding factors that may impact the company's earnings and performance in future periods. Words and phrases such as: "will likely result," "expect," "will continue," "anticipate," "estimate," "project," "believe," "intend," "should," "would," "may," "can," "could," "plan," "target" and similar expressions are intended to identify "forward-looking statements." Actual results or performance could differ from those implied or contemplated by such statements. Factors that could cause future results and performance to vary materially from current management expectations include, but are not limited to, general business and economic conditions; fiscal and monetary policies; significant weather events such as hurricanes; war and terrorism; changes in interest rates; deposit flows; loan demand and real estate values; competition with other providers of financial products and services; the issuance or redemption of additional company equity or debt; volatility in the market price of our common stock; changes in accounting principles, policies or guidelines; changes in laws or regulation; reliance on other companies for products and services; and other economic, competitive, servicing capacity, governmental, regulatory and technological factors affecting the company's operations, pricing, products and delivery of services.