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BFC FINANCIAL CORPORATION REPORTS SECOND QUARTER 1993 RESULTS

 CORAL GABLES, Fla., Aug. 16 /PRNewswire/ -- BFC Financial Corporation today reported net income of $1,095,000, or $0.53 per share, for the three months ended June 30, 1993, vs. a net loss of $1,461,000, or $0.96 per share, for the comparable period in 1992.
 For the six-month period ended June 30, 1993, BFC Financial Corporation reported net income of $626,000, or $0.17 per share, compared to a net loss of $2,738,000, or $1.81 per share, for the same period in 1992. Results for the six months ended June 30, 1993 include the $501,000 cumulative effect of a change in accounting for income taxes resulting from the implementation of Statement of Financial Accounting Standard No. 109, "Accounting for Income Taxes." Without this adjustment, net income for the six months ended June 30, 1993 would have been $1,127,000, or $0.46 per share.
 -0- 8/16/93
 /CONTACT: Glen R. Gilbert of BFC Financial Corporation, 305-665-8100/


CO: BFC Financial Corporation ST: Florida IN: FIN SU: ERN

RC-AW -- FL022 -- 3273 08/16/93 17:00 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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