BankUnited Financial Corp. Declares Semi-Annual Interest Payments on Preferred Securities

Business Wire, Dec 1, 2004

CORAL GABLES, Fla. -- BankUnited Financial Corp. (Nasdaq:BKUNA), parent company of BankUnited FSB, has declared regular semi-annual interest payments on its preferred securities.

BankUnited declared its fifteenth consecutive semi-annual interest payment of $51.25 per share on its 10.25% Trust Preferred Securities, payable on December 31, 2004, to securities holders of record on December 15, 2004.

About BankUnited

BankUnited Financial Corporation is the parent company of BankUnited FSB, which, with $8.7 billion in assets, is the largest banking institution headquartered in Florida. Offering a full array of consumer and commercial banking products and services, BankUnited operates 50 banking offices throughout Miami-Dade, Broward, Palm Beach, Martin and Collier Counties. BankUnited can be accessed on the Internet at http://www.buexpress.com. BankUnited's Class A Common Stock trades on the NASDAQ National Market under the trading symbol BKUNA.

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, 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.