BankUnited CEO Announces Stock Transaction.

CORAL GABLES, Fla. -- BankUnited Financial Corporation (NASDAQ:BKUNA) today reported that Chairman and CEO Alfred R. Camner has exercised options to purchase a total of 144,638 shares of stock.

On April 13, 2006, Camner exercised options to purchase 130,000 shares of Class B Common Stock, and on March 31, 2006, Camner exercised expiring stock options to purchase 14,638 shares of Class B Common Stock. On May 2, 2006, and May 3, 2006, Camner sold 28,500 shares of BankUnited Class B Common Stock from his individual retirement account for estate and tax planning purposes.

"I intend to hold a very substantial, long-term position in BankUnited's equity, which reflects my commitment to the company and my confidence in our strategy and growth prospects," said Camner. "My family's estate planning, trust and tax situation, coupled with the approaching expiration of older options, may result in additional exercises of stock options and purchases, or sales or transfers of stock to family members, trusts or others in the future."

About BankUnited

BankUnited Financial Corp. (NASDAQ:BKUNA) is the holding company for BankUnited FSB, the largest banking institution headquartered in Florida. BankUnited had assets of $12.2 billion at March 31, 2006. Serving customers in 10 coastal counties through 71 branches, 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 877-779-2265.

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," "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; events beyond our control including natural disasters and 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.