SOURCE: Resource America, Inc.

May 15, 2008 17:04 ET

Resource America, Inc. Announces Completion of Assignment and Assumption of U.S. Management Contracts

NEW YORK, NY--(Marketwire - May 15, 2008) - Resource America, Inc. (NASDAQ: REXI) announces today that its subsidiary, Apidos Capital Management, LLC ("Apidos"), has successfully been assigned the management contracts of four Collateralized Loan Obligations ("CLO") totaling approximately $1.3 billion.

Apidos Capital Management, LLC represents the U.S. leveraged loan investment arm of Resource America and is an affiliate of Resource Europe Management Limited (the London-based subsidiary managing euro-denominated leveraged loans). With the completion of this transaction, Apidos and Resource Europe will now manage 13 CLO vehicles representing approximately $4 billion of assets.

Christopher D. Allen, Chief Operating Officer and Senior Managing Director of Apidos, stated, "We are very pleased to be an early beneficiary of consolidation among asset managers within the syndicated loan marketplace and are well-positioned to continue to benefit from industry consolidation in the next few years. We recently received the consent of all parties to the transaction and are proud of the confidence that they have shown in our portfolio management capabilities."

Gretchen Bergstresser, President and Senior Portfolio Manager of Apidos, commented, "Although these transactions that we will be assuming management of have experienced many challenges in this uncertain economic environment, we believe that we are very well-suited to maximize the returns for all investors."

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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