FOR RELEASE: March 29, 2001

CONTACT(S):
Joan C. Dal Farra of GMAC Mortgage
(215) 682-1931
joan_dalfarra@gmacm.com

Sharon Lyn of BankAtlantic
(954) 760-5402
slyn@bankatlantic.com

BankAtlantic And GMAC Mortgage Announce Strategic Alliance; Customers To Benefit From Advanced Technology, Online Services

FORT LAUDERDALE, FL & HORSHAM, PA. - BankAtlantic, a wholly owned subsidiary of BankAtlantic Bancorp (NYSE: BBX) and GMAC Mortgage Corporation today announced a strategic alliance, which will enable BankAtlantic customers to apply for residential mortgage services through BankAtlantic's web site (www.bankatlantic.com) or any of its branch offices throughout the state of Florida.

As part of the alliance, GMAC Mortgage will be able to approve and issue on-the-spot credit decisions for certain loan products, on-time closings and a secure environment for transmitting personal information. BankAtlantic will provide industry best pricing for its customers, a continued commitment to customer service and satisfaction and a fast, simple way to apply for a residential loan.

The agreement will also expand GMAC Mortgage's support in lending activities to the low- to moderate-income communities, which BankAtlantic continually serves.

"I'm happy with our new partnership with GMAC Mortgage, one of the nation's largest mortgage bankers and servicers in the country. The company's reputation, coupled with the integrity of the GMAC name, gives BankAtlantic the winning combination for which we constantly strive," said Alan B. Levan, Chairman and Chief Executive Officer of BankAtlantic. "By working with GMAC Mortgage, we can fulfill our customer's residential lending needs through a convenient delivery channel of their choice - internet, telephone or branch," he added.

Through its branch network and Internet site, BankAtlantic plans to promote the strategic alliance as BankAtlantic powered by GMAC Mortgage. "We believe our relationship will compliment BankAtlantic's current product offerings and provide GMAC Mortgage the opportunity to expand homeownership opportunities in BankAtlantic's communities," said Ray Castellanos, regional vice president of GMAC Mortgage. "We look forward to being a part of BankAtlantic's long-standing tradition of community-based banking services within Florida's cities and towns."

About BankAtlantic
BankAtlantic Bancorp (NYSE: BBX) is a diversified financial services holding company and the parent company of BankAtlantic, Levitt Corporation and Ryan, Beck & Co. Through its subsidiaries, BankAtlantic Bancorp provides a full line of products and services encompassing consumer and commercial banking, brokerage and investment banking, and real estate development. BankAtlantic, one of the largest financial institutions headquartered in Florida, provides a comprehensive menu of banking services and products via its broad network of community branches throughout Florida. Levitt Corporation, which includes Levitt & Sons and St. Lucie West, was America's first builder of planned suburban communities and is best known for creating New York's Levittown on Long Island and Levittown PA. After building more than 200,000 homes over 72 years, the Levitt tradition continues with residential developments throughout Florida. Furthermore, St. Lucie West has been the fastest growing community on Florida's Treasure Coast for the last 5 years. Ryan, Beck & Co. engages in underwriting, market making, distribution, and trading of equity and debt securities, money management and general securities brokerage, as well as consulting, research and financial advisory services to financial institutions and middle market companies.

About GMAC Mortgage
GMAC Mortgage Corporation, headquartered in Horsham, Pa., originates first and second lien residential mortgage loans through a nationwide network of retail offices, correspondents and brokers; direct lending centers and internet sites under the brands gmacmortgage.com and ditech.com; and GM Family First - a custom mortgage services program offered to GM employees, retirees and dealers. As of Dec. 31, 2000, GMAC Mortgage originated $16.8 billion in residential mortgages, representing more than 195,000 transactions. The company's servicing portfolio of more than $164 billion represents 2 million customers throughout the nation.

Statements in this release may constitute forward-looking statements and are made pursuant to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Forward looking statements are based largely on expectations and are subject to a number of risks and uncertainties including but not limited to the risks and uncertainties associated with economic, competitive and other factors affecting the Company and its operations, markets, products and services, risks and uncertainties associated with the success of technological, strategic and business initiatives, and the potential benefits which may be derived from strategic alliances, as well as other factors detailed in the Company's SEC filings.