SOURCE: Resource America, Inc.

November 14, 2008 13:14 ET

LEAF Financial Corporation Announces the Extension of a $205 Million Credit Facility

PHILADELPHIA, PA--(Marketwire - November 14, 2008) - LEAF Financial Corporation, the commercial finance subsidiary of Resource America, Inc. (NASDAQ: REXI), announced today that it has entered into an extension of one of its credit facilities led by Morgan Stanley Bank through November 2009. This facility was used to acquire the assets of NetBank Business Finance for its public limited partnership, LEAF Equipment Leasing Income Fund III, L.P., in November 2007. The facility had an original balance of $386 million and has a current balance of $205 million.

Crit DeMent, Chairman and Chief Executive Officer of LEAF, stated, "We are encouraged by and appreciate the confidence our lenders continue to show in our business as we work together to navigate this difficult credit environment."

LEAF is a commercial finance and equipment leasing company with approximately $1.6 billion in assets under management as of June 30, 2008.

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 www.resourceamerica.com or contact pkamdar@resourceamerica.com.

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.

Contact Information