BankAtlantic Names Mark Begelman Executive Vice President and Chief Marketing Officer; Former President and Chief Operating Officer of Office Depot Joins Executive Team at Florida's Most Convenient Bank

Business Wire, Oct 18, 2005

FORT LAUDERDALE, Fla. -- BankAtlantic, Florida's Most Convenient Bank, today announced that Mark Begelman, former President and Chief Operating Officer for Office Depot and founder/former Chief Executive Officer of Mars Music, has been named Executive Vice President and Chief Marketing Officer. Begelman will be responsible for all aspects of BankAtlantic's marketing and advertising strategies and will also manage new store real estate and construction efforts.

Begelman has more than 30 years of executive experience, and was twice named Ernst and Young's "Entrepreneur of the Year" and Financial News' CEO of the Year. Most notably, as President and Chief Operating Officer of Office Depot, April 1991 through May 1995, he grew the company's store base from 127 to 467 stores and increased revenue from $900 million to $4.5 billion in four years. In addition, Begelman served as Founder and CEO of Mars Music, December 1995 through October 2002, opening 52 musical instrument superstores.

"BankAtlantic continues to attract top-level executives from business and industry as we move forward with our Florida's Most Convenient Bank strategy. We are fortunate to have someone of vision like Mark Begelman on the BankAtlantic team," said Alan B. Levan, BankAtlantic's Chairman and CEO. "Mark brings an extensive background in retail operations to BankAtlantic, particularly in both new store operations and in marketing for competitive retail environments. His proven skills and experience in management and marketing will certainly be an asset to BankAtlantic as we continue our strategic growth across Florida."

About BankAtlantic Bancorp:

BankAtlantic Bancorp (NYSE:BBX) is a diversified financial services holding company and the parent company of BankAtlantic and Ryan Beck & Co. Through these subsidiaries, BankAtlantic Bancorp provides a full line of products and services encompassing consumer and commercial banking, brokerage and investment banking.

About BankAtlantic:

BankAtlantic, "Florida's Most Convenient Bank," is one of the largest financial institutions headquartered in Florida and provides a comprehensive offering of banking services and products via its broad network of community stores and its online banking division - BankAtlantic.com. BankAtlantic has 78 stores and operates more than 200 conveniently located ATMs. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours, including several stores open until midnight, Totally Free Online Banking & Bill Pay, 24/7 Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift.

About Ryan Beck & Co.:

Founded in 1946, Ryan Beck & Co., Inc. provides financial advice and innovative solutions to individuals, institutions and corporate clients through the activities of approximately 1,100 employees in 39 offices located in 14 states. For individual investors, the firm's Private Client Group provides a full range of financial services, including investment consulting, retirement plans, insurance and investment advisory services. Institutional clients benefit from the market making, underwriting and distribution activities of the firm's experienced Capital Markets Group, which encompasses equity and fixed income trading and institutional sales as well as research. Through its Investment Banking Groups, Ryan Beck raises capital and provides financial advisory services to financial institutions, middle market companies and municipalities.

For further information, please visit our websites:

http://www.BankAtlanticBancorp.com
http://www.BankAtlantic.com
http://www.RyanBeck.com

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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

BankAtlantic Bancorp Contact Info:
Donna Rouzeau,
Assistant Vice President, Investor Relations & Corporate
Communications
Email: CorpComm@BankAtlanticBancorp.com
Leo Hinkley,
Senior Vice President, Investor Relations
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

Matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, the word "expect" and similar expressions identify certain of such forward-looking statements. Actual performance or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. 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.