SOURCE: Resource America, Inc.

Resource America, Inc.

March 02, 2011 10:01 ET

Resource America, Inc. Adds $1.9 Billion of Assets Under Management

NEW YORK, NY--(Marketwire - March 2, 2011) - Resource America, Inc. (NASDAQ: REXI) (the "Company") announces today that its assets under management have increased by $1.9 billion. This increase is due to the acquisition of Churchill Pacific Asset Management (CPAM) by Resource Capital Corp (NYSE: RSO) as announced last week and which closed on February 24, 2011. CPAM has since changed its name to Resource Capital Asset Management. Its parent, Resource Capital Corp., is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of Resource America, Inc. The Company's leveraged loan manager, Apidos Capital Management, will help manage these assets through its relationship with RSO, and with the addition of these assets, Apidos now manages approximately $5.8 billion.

Christopher Allen, co-founder and Senior Managing Director of Apidos Capital Management, said, "We are excited about Resource Capital Corp's purchase of Churchill Pacific Asset Management, and look forward to helping manage the five CLOs. This represents an excellent growth opportunity for our firm and follows the integration of the ACA US CLOs that was completed in May 2008."

Gretchen Bergstresser, President and Senior Portfolio Manager of Apidos Capital Management, said, "Our systems are designed to be best of breed and are very scalable. We believe that our involvement will benefit all classes of notes in the RCAM CLOs and we look forward to the continued growth of our business."

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

About Apidos Capital Management, LLC
Apidos Capital Management, LLC forms part of the global credit platform of Resource America, Inc. Apidos manages approximately $5.8 billion of speculative grade credit assets across multiple portfolios including Collateralized Loan Obligations, Credit Opportunity Funds and Separate Accounts.

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