SOURCE: Resource America, Inc.

Resource America, Inc.

December 22, 2010 10:34 ET

Resource America, Inc. Sells European Loan Management Contract

PHILADELPHIA, PA--(Marketwire - December 22, 2010) - Resource America, Inc. (NASDAQ: REXI) (the "Company") announced today that its subsidiary, Resource Europe Management Limited, has sold the management contract of Resource Europe CLO I B.V., a EUR 300.0 million collateralized loan obligation ("CLO") to an affiliate of Intermediate Capital Group PLC (LSE: ICP). In connection with the sale of the management contract, the Company also transferred its equity and other interests in that CLO to ICG. 

Christopher Allen, Senior Managing Director and co-founder of Apidos Capital Management, LLC, the Company's leveraged loan manager, commented, "Selling the management contract for our European CLO will allow Apidos to focus on expanding our US leveraged loan business. The interest in this management contract was great and this reflects on the outstanding performance of our CLO management team and our joint credit approach. ICG is an experienced asset manager with a very good track record of managing corporate credit in Europe. We are very pleased to have worked with them on this transaction."

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

ICG is a specialist asset manager with EUR 12 billion of assets under management, deploying capital on behalf of more than 250 institutional investors via credit, mezzanine and minority equity funds. ICG plc is listed on the London Stock Exchange (ticker: ICP). For more information visit www.icgplc.com 

StormHarbour Securities LP advised on the transaction.

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. Resource America, Inc. undertakes no obligation to update or revise any forward looking statement to reflect new or changing information or events.

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