WDG Woodbridge Holdings Corp

BFC Financial Corporation (NYSE: BFF) today announced that within the last ten days it has purchased 2,000,000 shares of BankAtlantic Bancorp's (NYSE: BBX) Class A common stock in open market purchases. The recent purchase increases BFC Financial Corporation's ("BFC" or the "Company") ownership in BankAtlantic Bancorp's Class A Common Stock to approximately 10,300,000 shares. BankAtlantic Bancorp is the holding company of BankAtlantic, "Florida's Most Convenient Bank."

BFC Financial Corporation's Chairman and Chief Executive Officer, Alan B. Levan, commented, "While conditions in the financial sector have been challenging, we believe BankAtlantic Bancorp's stock price has been unfairly depressed largely due to misinformation provided to the market. BankAtlantic remains 'well capitalized' under all regulatory guidelines. Unfortunately, it has been wrongly associated with other institutions that are not. We believe BankAtlantic Bancorp presents a remarkable buying opportunity for BFC.

"As detailed in BankAtlantic Bancorp's Second Quarter 2008 press release issued on July 29, 2008, BankAtlantic has made material progress in improving core operating earnings, reporting a 37% improvement in pre-tax core operating earnings (defined as pre-tax earnings before the impact of loan loss provisions, impairment, restructuring and exit activities) versus the first quarter of 2008. Net interest income, non-interest income and core operating earnings had all increased. BankAtlantic reported total risk based capital ratio of 11.77%, Tier 1 risk based capital ratio of 9.99%, tangible capital ratio of 6.82%, and core capital ratio of 6.82%, all exceeding the well capitalized standard for the respective capital ratios. In addition, BankAtlantic's residential lending practices have never included subprime, option arm, negative amortization, or similar products. Further, BankAtlantic has reported that its investment portfolio does not include any commercial paper, collateralized debt obligations, structured investment vehicles, Fannie Mae or Freddie Mac equity or debt securities, or investments otherwise considered high-risk.

"We believe BankAtlantic is positioned to take advantage of opportunities in one of the best banking markets in the nation, and postured to emerge from the current economic cycle stronger and more profitable," Levan concluded.

BankAtlantic Bancorp's press releases and reports are filed with the Securities and Exchange Commission and may be viewed at www.BankAtlanticBancorp.com or on the Securities and Exchange Commission's website at www.SEC.gov.

About BFC Financial Corporation:

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

For further information, please visit our website at www.BFCFinancial.com. To receive future news releases or announcements directly via Email, please click on the Email Broadcast Sign Up button.

About BankAtlantic Bancorp:

BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of BankAtlantic. For further information, please visit www.BankAtlanticBancorp.com

About BankAtlantic:

BankAtlantic, "Florida's Most Convenient Bank," with over $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 www.BankAtlantic.com

Except for historical information contained herein, the 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. When used in this press release, 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 BFC Financial Corporation ("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 the Company's control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting BankAtlantic Bancorp and its operations, markets, products and services, including the impact of a continued downturn in the economy or a recession on its business generally, the risk that BankAtlantic's operating performance may deteriorate or not improve as anticipated; and that BankAtlantic Bancorp's stock price may decline or not appreciate as anticipated, if al all. The Company cautions that the foregoing factors are not exclusive. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in reports filed separately by BFC Financial Corporation and BankAtlantic Bancorp with the Securities and Exchange Commission, and may be viewed free of charge on the SEC's website, at www.sec.gov. Information about BankAtlantic Bancorp is prepared by the management of BankAtlantic Bancorp and not by BFC, and the information provided in this release should be read in conjunction with and as part of the information provided by BankAtlantic Bancorp in its complete press release and in its SEC filings.

BFC Contact Info: Investor and Corporate Communications: Sharon Lyn Vice President Email: Email Contact Investor Relations: Leo Hinkley SVP, Investor Relations Officer Email: Email Contact Mailing Address and Telephone: BFC Financial Corporation Attn: Investor Relations 2100 West Cypress Creek Road Fort Lauderdale, FL 33309 Phone: (954) 940-4994 Fax: (954) 940-5320