Levitt Corporation Announces Name Change to Woodbridge Holdings Corporation and Re-Election of Directors

FORT LAUDERDALE, FL today announced that its name has been changed to "Woodbridge Holdings Corporation." The name change was approved by the Company's shareholders at the Company's Annual Meeting of Shareholders held on May 20, 2008. The Company's Board of Directors previously approved the name change, and recommended that the Company's shareholders approve the name change in light of the Company's intention to expand its operations beyond its current real estate activities. In connection with the name change, the ticker symbol of the Company's Class A Common Stock on the New York Stock Exchange will change from "LEV" to "WDG." (NYSE: WDG) Trading under the new ticker symbol, "WDG," is planned to begin on Tuesday, May 27, 2008.

"We believe the new name is appropriate given the Company's current and future business strategy, which will include acquisitions and investments both within and outside the real estate industry," commented Alan B. Levan, Chairman and Chief Executive Officer of Woodbridge Holdings Corporation.

In addition to approving the name change, at the Company's Annual Meeting of Shareholders, the Company's shareholders also re-elected the nominated slate of directors, John E. Abdo, William Nicholson and Alan J. Levy, to the Company's Board of Directors, in each case for a three-year term expiring in 2011.

About Woodbridge Holdings Corporation:

Woodbridge Holdings Corporation, directly and through its wholly owned subsidiaries, seeks to invest opportunistically within and outside the real estate industry.

Core Communities, a wholly owned subsidiary, develops master-planned total-living community environments throughout the Southeastern United States, including its original and best known, St. Lucie West. The company's 8,200-acre Tradition? Florida community is home to more than 1,700 families, vibrant commercial areas and a 4.5-mile-long employment corridor. The community is also home to the Florida Center for Innovation at Tradition (FCI) Research Park, in which The Torrey Pines Institute for Molecular Studies, Mann Research Center, Martin Memorial Health Systems and Oregon Health & Science University's Vaccine and Gene Therapy Institute have all announced plans to locate. Core is also expanding its Tradition? brand with Tradition? Hilton Head, an approximate 5,400-acre community planned to include 9,500 residences and 1.5 million square feet of commercial space, which features a variety of neighborhoods and housing styles, shopping and dining in Village Square, a Fitness Center & Spa and the Tommy Fazio-designed Tradition National Golf Course.

Woodbridge Capital Corporation, a wholly owned subsidiary, is the general partner of Woodbridge Equity Fund LLLP which holds investments in equity securities.

Cypress Creek Capital Holdings, LLC:

Cypress Creek Capital, a wholly owned subsidiary, is a real estate investment banking company. Cypress Creek Capital's acquisition program focuses on existing commercial income producing properties in Florida's growth markets. The company targets office, retail and industrial real estate.

For further information, please visit our websites:

www.WoodbridgeHoldings.com

www.CoreCommunities.com

www.CypressCreekCapital.com

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Some of the statements contained or incorporated by reference herein include 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. 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 described in this press release. When considering those forward-looking statements, you should keep in mind the risks, uncertainties and other cautionary statements. Some factors which may affect the accuracy of the forward-looking statements include, but are not limited to, the Company's ability to implement its business plan to pursue opportunistic acquisitions and investments successfully, if at all, or produce results which justify their costs and the risk that no gain from such investments will be realized; and the Company's success at managing the risks involved in the foregoing. Many of these factors are beyond the Company's control and the Company cautions that the foregoing factors are not exclusive. Additional information concerning the potential risk factors that could affect Woodbridge Holdings Corporation's future performance are described in the Company's periodic reports filed with the SEC, which may be viewed free of charge on the SEC's website, www.sec.gov, or on the Company's website, www.WoodbridgeHoldings.com.

Woodbridge Holdings Corporation Contact Information: Public Relations: Steven Lipin or Giovanna Konicke Brunswick Group 140 East 45th Street, 30th Floor New York, NY 10017 Phone: [phone] Email: Email Contact Investor Relations: Leo Hinkley SVP, Investor Relations Officer Phone: [phone] Fax: [phone] Email: Email Contact