STULL, STULL & BRODY ANNOUNCES CLASS ACTION
ON BEHALF OF SHAREHOLDERS OF BANKATLANTIC BANCORP INC.

NEW YORK, October 29, 2007 — Attorney Advertising. Notice is hereby given that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of BankAtlantic Bancorp Inc. (“BankAtlantic Bancorp” or the “Company”) (NYSE: BBX) common stock between November 9, 2005 through October 25, 2007 (the “Class Period”).

The Complaint alleges that BankAtlantic and certain of its officers and directors violated the Securities Exchange Act of 1934. At the start of the Class Period BankAtlantic touted its “negative provisions for loan losses.” Nevertheless, BankAtlantic materially understated reserves for real estate loan losses on its financial statements and, thus, materially overstated net income. BankAtlantic granted a $27.8 million real estate loan without obtaining an independent appraisal of the real estate. The loan was granted to Michael Tringali, who worked together with Neil Mahemd Husani. The two men inflated land values and then ‘flipped’ a series of properties in Florida to obtain higher real estate loans from several banks, including BankAtlantic. Husani and Tringali have been under FBI investigation for this scheme, which the Company either knew at the time or recklessly ignored.

BankAtlantic knew or recklessly ignored that the collateral underlying this $27.8 million loan – vacant land in Manatee County, Florida – was worth no more than $17.1 million. BankAtlantic deflected questions about the adequacy of its loan loss reserves for this property. BankAtlantic said it commissioned an “appraisal” of the property, but real estate experts questioned whether this appraisal had any basis. In April 2007, BankAtlantic announced that it was having difficulty with its Florida real estate portfolio but hid the true extent of the inadequacy of its loan loss reserves. On October 25, 2007, the Company announced that it had to increase its loan loss reserves substantially. The news sent BankAtlantic’s shares down nearly 40%, from $7.45 to $4.72 on heavy trading volume.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired BankAtlantic Bancorp common stock during the Class Period, which is between November 9, 2005 and October 25, 2007. If you purchased or otherwise acquired BankAtlantic Bancorp common stock during the Class Period, and either lost money on the transactions or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased BankAtlantic Bancorp common stock during the Class Period, you may request that the Court appoint you as lead plaintiff no later than December 28, 2007.

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Los Angeles.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at ssbny@aol.com, by calling toll-free 1-800-337-4983, or by fax at 1-212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.

© Copyright 1999-2005. Stull, Stull & Brody
Published in U.S.A. All rights reserved.
Reproduction/redistribution prohibited.