BankAtlantic Well-Positioned; Clarifies Erroneous and Misleading Analyst Information

BankAtlantic Bancorp, Inc. (NYSE:BBX), today announced that an analyst report issued by Richard Bove at Ladenburg Thalmann on July 13, 2008, entitled "Who Is Next," erroneously included Florida's BFC Financial Corp. In fact, BFC Financial Corp is not a bank, it does not take deposits nor, as a regular part of its business, does it extend credit. Its connection to banking is that it owns stock in BankAtlantic Bancorp which in turn owns stock in BankAtlantic. BankAtlantic, which was not included in the report, is a "well capitalized" institution under all regulatory standards. Its total risk based capital ratio is 11.83%, even exceeding the 10% "well capitalized" standard for that capital ratio. Similarly, its Tier 1 risk based capital ratio is 10.04%, exceeding the "well capitalized" 6% standard for that capital ratio. Its tangible capital ratio, at 6.87%, exceeds the "well capitalized" 1.5% standard for that capital ratio. Its core capital, at 6.87%, exceeds the "well capitalized" 5% standard for that capital ratio. Most importantly, while BankAtlantic has reported credit losses -- few if any financial institutions doing business in Florida have not reported credit losses -- its ratio of non-performing loans to total loans was 1.25% in the last reporting period and is not expected to be significantly higher in the next reporting period. BankAtlantic has not made sub-prime loans nor invested in them and its reported credit losses stem largely from the overall impact of the economy on its real estate lending portfolio. BankAtlantic's ratio of non-performing assets to total common equity plus loan loss reserves was 12.5% at March 31. Unfortunately, wire service outlets and cable news services have picked up the incorrect Ladenburg story, confused BFC Financial Corporation with BankAtlantic, and published stories that omit reference to the actual financial condition of BankAtlantic as a well-capitalized financial institution. Although Ladenburg has since acknowledged that the reference to BankAtlantic is incorrect, it omitted reference to BankAtlantic's robust capital ratios, its relatively low ratio of non-performing loans to total loans, and the confusion it caused over application of its methodology to BFC, a company that simply owns stock in BankAtlantic Bancorp, which in turn owns all of BankAtlantic. In this period of market turmoil, analysts and the media need to be more careful. About BankAtlantic: BankAtlantic, "Florida's Most Convenient Bank", with $6 billion in assets and more than 100 stores is one of the largest financial institutions headquartered in Florida. BankAtlantic provides a full line of products and services encompassing consumer and commercial banking. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours, Totally Free Online Banking & Bill Pay, a 7-Day Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift. BankAtlantic has been serving communities throughout Florida since 1952 and currently operates more than 250 conveniently located ATMs. The bank has supported thousands of charitable, civic and professional organizations since the inception of the BankAtlantic Foundation in 1994. For further information, please visit our website: www.BankAtlantic.com BankAtlantic, "Florida's Most Convenient Bank," Contact Info: Public Relations: Hattie Hess, Vice President, Public Relations Telephone: 954-940-6383, Fax: 954-940-6310 Email: hhess@BankAtlantic.com Public Relations for BankAtlantic: Boardroom Communications Caren Berg Phone: 954-370-8999, Fax: 954-370-8892 Email: caren@boardroompr.com About BankAtlantic Bancorp: BankAtlantic Bancorp (NYSE: BBX) is a financial services holding company and the parent company of BankAtlantic. BankAtlantic Bancorp Contact Info: Donna Rouzeau, Assistant Vice President, Investor Relations & Corporate Communications Email: CorpComm@BankAtlanticBancorp.com Leo Hinkley, Senior Vice President, Investor Relations Officer Email: InvestorRelations@BankAtlanticBancorp.com Phone: (954) 940-5300, Fax: (954) 940-5320 Mailing Address: BankAtlantic Bancorp, Investor Relations 2100 West Cypress Creek Road, Fort Lauderdale, FL 33309 For further information, please visit our website: www.BankAtlanticBancorp.com Except for historical information contained herein, the matters discussed herein 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. When used herein and in any documents incorporated by reference herein, the words "anticipate,” "believe,” "estimate,” "may,” "intend,” "expect” and similar expressions identify certain of such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of BankAtlantic and BankAtlantic Bancorp, Inc. ("the Company”) and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond their control. These include, but are not limited to, risks and uncertainties associated with the condition of the economy and the timing of any economic recovery, and competitive and other factors affecting the Company and its operations. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in reports filed by the Company with the Securities and Exchange Commission. The Company cautions that the foregoing factors are not exclusive.