SOURCE: Resource America, Inc.

November 26, 2007 17:01 ET

Resource America's LEAF Financial Acquires the Business of Dolphin Capital Corp.

PHILADELPHIA, PA--(Marketwire - November 26, 2007) - Resource America, Inc. (NASDAQ: REXI) announced today that its commercial finance subsidiary, LEAF Financial Corporation ("LEAF"), has significantly expanded its origination capability and small business assets under management by entering into a definitive agreement to acquire the business of Dolphin Capital Corp., an equipment finance subsidiary of Lehman Brothers Bank, FSB. The total purchase price of approximately $167 million includes a portfolio of small ticket leases to be acquired by LEAF and investment partnerships managed by LEAF. In addition, LEAF will retain the lease origination and management platform as well as the highly experienced small ticket leasing team including senior management, origination and operations personnel.

Under LEAF, Dolphin will continue its Missouri operations which are expected to originate in excess of $100 million of additional lease assets for LEAF investment vehicles in fiscal 2008. With the addition of Dolphin, LEAF's assets under management will increase to nearly $1.7 billion and its annual origination capacity to over $1 billion.

Dolphin Capital's roots date back to the early 1990s and it is one of the nation's largest and most respected leasing companies, dedicated exclusively to funding small ticket transactions from small businesses.

Crit DeMent, Chairman and Chief Executive Officer of LEAF, commented that "we have continued to build our business and search out quality assets in this tremendously inefficient marketplace. Not only does this enhance our origination capabilities, but our investment limited partners will benefit from the quality of assets generated through this acquisition. We believe that over the last year we have become one of the largest independent commercial finance players focused on the small and middle ticket equipment leasing business because of our unique ability to take advantage of opportunities such as this."

Financing for this transaction will be provided by National City Bank.

LEAF Financial Corporation is a commercial finance and asset management company headquartered in Philadelphia, PA. LEAF's business model is to originate small to middle ticket equipment leases and loans in a variety of asset classes through five strategic business units. After origination, LEAF manages the leases for its own account, institutions, and individual investors through investment partnerships and other investment vehicles. LEAF Financial Corporation is a subsidiary of Resource America, Inc. (NASDAQ: REXI). LEAF was advised on this acquisition by Fairview Advisors, LLC.

Resource America 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 financial fund management, real estate and commercial finance sectors. For more information please visit our website at or contact Investor Relations at

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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