BankAtlantic Bancorp, Inc. Announces Effective Date of Reverse Stock Split

  
    
  
  
    
      BankAtlantic Bancorp, Inc. (NYSE:BBX) announced today that it intends to 
      effect its previously announced one-for-five reverse split of its common 
      stock as of the close of business on September 26, 2008. As previously 
      announced, at the effective time of the reverse stock split, each five 
      shares of BankAtlantic Bancorp’s Class A 
      Common Stock outstanding will automatically convert into one share of 
      Class A Common Stock, and each five shares of BankAtlantic Bancorp’s 
      Class B Common Stock outstanding will automatically convert into one 
      share of Class B Common Stock. No fractional shares will be issued in 
      connection with the reverse stock split. Instead, any fractional share 
      resulting from the reverse stock split will be rounded up to the next 
      largest whole share.
    
    
      About BankAtlantic Bancorp:
    
    
      BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the 
      parent company of BankAtlantic.
    
    
      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 our websites:
    
    
      www.BankAtlanticBancorp.com
    
    
      www.BankAtlantic.com
    
    
      -- To receive future BankAtlantic Bancorp news releases or 
      announcements directly via Email, please click on the Email Broadcast 
      Sign Up button on our website: www.BankAtlanticBancorp.com.
    
    
      
        
          
            BankAtlantic Bancorp Contact 
            Info:
          
        
      
      
        
          Donna Rouzeau,
        
      
      
        
          Assistant Vice President, Investor Relations & Corporate 
          Communications
        
      
      
        
          
            Email: [e-mail]
          
        
      
      
        
          Leo Hinkley,
        
      
      
        
          Senior Vice President, Investor Relations Officer
        
      
      
        
          
            Email: [e-mail]
          
        
      
      
        
           
        
      
      
        
          
            Phone: [phone], Fax: 
            [phone]
          
        
      
      
        
          
            Mailing Address: 
            BankAtlantic Bancorp, Investor Relations
          
        
      
      
        
          2100 West Cypress Creek Road, Fort Lauderdale, FL 33309
        
      
    
    
      Some of the statements contained herein include forward-looking 
      statements within the meaning of Section 27A of the Securities Act of 
      1933, as amended, and Section 21E of the Securities Exchange Act of 
      1934, as amended, that involve substantial risks and uncertainties. Some 
      of the forward-looking statements can be identified by the use of words 
      such as “anticipate,” 
      “believe,” “estimate,” 
      “may,” “intend,” 
      “expect,” “will,” 
      “should,” “seek” 
      or other similar expressions. Forward-looking statements are based 
      largely on management’s expectations and 
      involve inherent risks and uncertainties, including, without limitation, 
      the possibility that, because of business, economic or market conditions 
      or for any other reasons within BankAtlantic Bancorp’s 
      discretion, BankAtlantic Bancorp may decide not to effect the reverse 
      stock split in the time frame anticipated, on the currently contemplated 
      terms, or at all. In addition to the risks and uncertainties set forth 
      above, investors should also consider the risks and uncertainties 
      discussed in BankAtlantic Bancorp’s filings 
      with the Securities and Exchange Commission, including, without 
      limitation, the risks and uncertainties discussed under the heading “Risk 
      Factors” in such filings.