BankAtlantic Issues Statement in Response to the JPMorgan Chase Acquisition of Washington Mutual

Business Wire, Sept 26, 2008

FORT LAUDERDALE, Fla. -- BankAtlantic, Florida's Most Convenient Bank, today issued the following statement in response to the transaction facilitated by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) relating to Washington Mutual and its acquisition by JPMorgan Chase:

BankAtlantic is available to assist Washington Mutual's customers and answer questions about BankAtlantic's FDIC coverage which includes the availability of CDARS, a program recently launched by BankAtlantic. The CDARS program can offer customers FDIC insurance coverage from $100,000 up to $50 million when they enter into the CDARS Deposit Placement Agreement, while earning attractive returns on their deposits. In fact, since its recent launch, BankAtlantic has attracted millions of dollars of fully FDIC insured customer deposits via the CDARS program.

We want you to know that BankAtlantic is here to meet your banking needs. BankAtlantic is financially strong and well capitalized. At June 30, 2008, Core, Tier I and Total Capital ratios of 11.77%, 9.99% and 6.82%, respectively, were well in excess of all regulatory "well capitalized" thresholds of 10.0%, 6.0% and 5.0%, respectively.

Like all financial institutions doing business in Florida, BankAtlantic has experienced credit losses. However, contrary to recent headlines reporting on America's credit crisis, BankAtlantic's conservative residential lending practices have never included subprime, option-arm, negative amortization or similar products. In addition, as we have previously reported, BankAtlantic's investment portfolio does not include commercial paper, collateralized debt obligations, structured investment vehicles, Fannie Mae or Freddie Mac equity or debt securities, or credit default swaps. In total, while other financial institutions have suffered the downward spiraling negative effects of these products and practices, BankAtlantic has none.

We clearly live in extraordinary times. Aggressive and unsound practices pursued by financial institutions have severely impacted America's financial system. While the names may change from Wall Street to Main Street, BankAtlantic is still here, as it has been for over 56 years, with over 100 locations to meet your banking needs. BankAtlantic is financially sound, with strong capital, a loyal deposit base, a deep commitment to providing seven-day convenience, unparalleled service, and a powerful mix of banking products and services to all Floridians.

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 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 visit 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

About BankAtlantic Bancorp:

BankAtlantic Bancorp (NYSE:BBX) is a bank holding company and the parent company of BankAtlantic. For further information visit www.BankAtlanticBancorp.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 Officer
Email: InvestorRelations@BankAtlanticBancorp.com
Phone: (954) 940-5300, Fax: (954) 940-5320

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. Forward-looking statements are based largely on the expectations of BankAtlantic Bancorp, Inc. ("the Company") and are subject to a number of risks and uncertainties, including the impact of adverse economic and financial market conditions on the Company's business and BankAtlantic's customers, the timing of any economic and housing market recovery and the risks and other factors detailed in reports filed by the Company with the Securities and Exchange Commission all of which are subject to change based on factors which are, in many instances, beyond the Company's control. Further, past performance may not be indicative of future performance. The Company cautions that the foregoing factors are not exclusive.