SOURCE: Resource America, Inc.

April 25, 2008 14:52 ET

Resource America, Inc. Announces Completion of LEAF Equipment Leasing Income Fund III, L.P. With Approximately $120 Million

PHILADELPHIA, PA--(Marketwire - April 25, 2008) - Resource America, Inc. (NASDAQ: REXI) announces today that its subsidiary, LEAF Financial Corporation ("LEAF"), has successfully completed the public offering of LEAF Equipment Leasing Income Fund III, L.P. ("LEAF III"). LEAF III raised approximately $120 million within 14 months, 42% ahead of the original two year projected offering period, and utilized a syndicate of more than 70 broker dealers that participated in the offering. This is LEAF's third fund; the first, LEAF I, raised approximately $17.1 million in gross offering proceeds; the second, LEAF II, raised approximately $60.0 million in gross offering proceeds.

LEAF III owns and manages a diversified portfolio of equipment leases and loans for credit-worthy American businesses. LEAF III's principal objective is to generate regular cash distributions to investors.

Crit DeMent, Chairman and Chief Executive Officer of LEAF, stated, "We are very pleased by the confidence financial advisors and individual investors have shown in LEAF with their tremendous acceptance of our investment programs. LEAF's ability to raise substantial equity in the current dislocated capital markets allows us to continue to take advantage of this situation, and the lack of liquidity by other companies, on behalf of our investors."

LEAF is a commercial finance and equipment leasing company with approximately $1.7 billion in assets under management as of December 31, 2007.

Resource America, Inc. is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the commercial finance, real estate and financial fund management sectors. For more information please visit our website at or contact

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Resource America, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10Q, reports on Form 8-K and annual reports on Form 10-K.

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