Resource America, Inc. Reports Operating Results for the Third Fiscal Quarter Ended June 30, 2010


PHILADELPHIA, PA--(Marketwire - August 4, 2010) - Resource America, Inc. (NASDAQ: REXI) (the "Company") reported adjusted income from continuing operations attributable to common shareholders, a non-GAAP measure, of $555,000, or $0.03 per common share-diluted, for the third fiscal quarter ended June 30, 2010 and an adjusted loss from continuing operations attributable to common shareholders of $221,000, or $0.01 per common share-diluted, for the nine months ended June 30, 2010, as compared to an adjusted loss from continuing operations attributable to common shareholders of $126,000, or $0.01 per common share-diluted, and $14.9 million, or $0.81 per common share-diluted, for the third fiscal quarter and nine months ended June 30, 2009, respectively. A reconciliation of the Company's reported GAAP loss from continuing operations attributable to common shareholders to adjusted income (loss) from continuing operations attributable to common shareholders, a non-GAAP measure, is included as Schedule I to this release.

For the third fiscal quarter and nine months ended June 30, 2010, the Company reported a loss from continuing operations attributable to common shareholders of $5.3 million, or $0.28 per common share-diluted, and $5.6 million, or $0.29 per common share-diluted, respectively, as compared to a loss from continuing operations attributable to common shareholders of $126,000, or $0.01 per common share-diluted and $14.9 million, or $0.81 per common share-diluted, for the third fiscal quarter and nine months ended June 30, 2009, respectively.

The Company's results for the third fiscal quarter and nine months ended June 30, 2010 include a non-cash charge of $8.0 million in connection with the sale of a leasing portfolio held by the Company's commercial finance business. The proceeds from this transaction enabled the Company's commercial finance business to fully repay and terminate its warehouse line of credit with PNC Bank, N.A. In addition, the results for the third fiscal quarter and nine months ended June 30, 2010 include $4.3 million and $3.0 million, respectively, in state tax benefits that were eliminated due to losses generated by the Company's commercial finance business.

Jonathan Cohen, CEO and President commented, "During our third quarter we continued to make major strides in deleveraging the Company and focusing on our asset management businesses. While we did incur a non-cash charge in selling the leasing portfolio, it enabled us to reduce our balance sheet borrowings by almost 70% during the quarter. Without this non-cash charge, the Company would have returned to profitability. We were pleased to see the continued progress in our real estate and fund management businesses and through our management of Resource Capital Corp. As we recently announced, we are focused on completing the transformation of our Company in a way that realizes the highest value for our shareholders and allows us to take advantage of the tremendous opportunities we see ahead in our core strengths."

The Company also reported:

-- Settlement of Legacy Portfolio Asset.  On June 23, 2010, Resource Real
   Estate received $4.6 million in settlement of a discounted loan in
   connection with the sale of a property in Washington, DC, by its owner
   and recorded a gain of $1.7 million. This was the 2nd highest valuation
   in the DC area in the last 2 years.

-- Resource Real Estate Opportunity REIT, Inc.  Resource Real Estate filed
   a $750.0 million registration statement with the Securities and
   Exchange Commission on July 7, 2009 for Resource Real Estate Opportunity
   REIT, Inc. of which Resource Real Estate is the external manager.  The
   registration statement became effective during June 2010.

-- Debt Reduction.  As of June 30, 2010, the Company reduced its total
   consolidated borrowings outstanding to $44.9 million from $191.4 million
   as of September 30, 2009, a decrease of $146.5 million (77%).  At June
   30, 2010, borrowings include $14.6 million of corporate revolving debt,
   $13.9 million of senior notes, net of a discount, and $16.4 million of
   other debt, of which $13.5 million is in mortgage debt secured by the
   underlying properties.

-- Adjusted Revenues and Adjusted Operating Income (Loss) -- Non-GAAP
   Measures.  For the third fiscal quarter and nine months ended June 30,
   2010, the Company reported adjusted revenues of $25.3 million and
   $67.5 million, respectively, as compared to $22.3 million and $81.4
   million for the third fiscal quarter and nine months ended June 30,
   2009, respectively.  For the third fiscal quarter and nine months ended
   June 30, 2010, the Company reported adjusted operating income of $2.1
   million and $2.6 million as compared to an adjusted operating loss of
   $407,000 and adjusted operating income of $7.0 million for the third
   fiscal quarter and nine months ended June 30, 2009, respectively.
   Adjusted revenues and adjusted operating income (loss) include $44,000
   of pre-tax fair value losses and exclude $2.6 million of pre-tax fair
   value gains for the third fiscal quarter and nine months ended June 30,
   2010, respectively, as compared to $263,000 and $226,000 of pre-tax
   fair value gains for the third fiscal quarter and nine months ended
   June 30, 2009, respectively.  Adjusted operating income (loss) also
   includes $7.2 million and $7.7 million of pre-tax losses on the sale
   of leases and loans for the third fiscal quarter and nine months ended
   June 30, 2010, respectively, as compared to $71,000 and $390,000 of
   pre-tax gains on the sale of leases and loans for the third fiscal
   quarter and nine months ended June 30, 2009, respectively. A
   reconciliation of the Company's total GAAP revenues and GAAP operating
   (loss) income to adjusted revenues and adjusted operating income (loss)
   is included in Schedule II to this release.

Assets Under Management

The following table details the Company's assets under management by operating segment, which decreased by $1.7 billion (12%) from June 30, 2009 to June 30, 2010:

                                                      At June 30,
                                              -----------------------------
                                                  2010           2009
                                              -------------- --------------
Financial fund management                     $ 10.1 billion $ 11.3 billion
Real estate                                      1.6 billion    1.7 billion
Commercial finance                               1.0 billion    1.4 billion
                                              -------------- --------------
                                              $ 12.7 billion $ 14.4 billion
                                              ============== ==============

A description of how the Company calculates assets under management is set forth in Item 1 of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2009.

Book Value

As of June 30, 2010, the Company's GAAP book value per common share was $7.55 per share. Total stockholders' equity was $138.0 million as of June 30, 2010 as compared to $131.4 million as of June 30, 2009. Total common shares outstanding were 18,261,250 as of June 30, 2010 as compared to 17,950,360 as of June 30, 2009.

Other Highlights for the Third Fiscal Quarter Ended June 30, 2010 and Recent Developments

-- On July 27, 2010, the Company announced that its Board of Directors
   formed a Special Committee, consisting entirely of independent
   directors, to identify and evaluate strategic alternatives for the
   Company to enhance shareholder value.

-- In May 2010, Resource Real Estate earned a $642,000 promoted return in
   connection with the sale of an asset in Pittsburgh, PA owned with a
   joint venture partner.

-- In April 2010, Resource Real Estate purchased three loans on behalf of
   Resource Capital Corp, a REIT that it manages, from the U.S. Department
   of Housing and Urban Development for approximately $44.2 million with
   an existing joint venture partner. These loans are secured by
   multifamily rental properties located in Atlanta, Georgia, Cleveland,
   Ohio and Prince George County, Maryland.  In connection with the
   purchase of these three loans, the Company will receive asset
   management and property management fees in the future.

-- As of July 2010, Resource Real Estate Opportunity Fund L.P. ("RRE
   Opportunity Fund") has sold 45 of 49 units in a Kansas City, Missouri
   Condominium, that it acquired in June 2009, generating gross sales
   proceeds of approximately $10.4 million. RRE Opportunity Fund's total
   acquisition costs were $9.0 million.

-- Resource Real Estate Management, Inc., the Company's property management
   subsidiary, increased the apartment units it manages to 13,724 units at
   51 properties as of June 30, 2010 from 12,134 units at 50 properties as
   of June 30, 2009.

-- In May 2010, LEAF Financial Corporation, on behalf of two affiliates,
   completed two securitization transactions totaling $210 million, both of
   which were term funded by the issuance of contract-backed notes. LEAF
   will continue to service these securitization pools.

-- The Company reduced its borrowings to $44.9 million at June 30, 2010, a
   decrease of $146.5 million from September 30, 2009.  This decrease
   primarily reflects the repayment and termination of the commercial
   finance credit facility, which had a $136.5 million balance at September
   30, 2009.

-- The Company's Board of Directors authorized the payment on July 30, 2010
   of a $0.03 cash dividend per share on the Company's common stock to
   holders of record as of the close of business on July 19, 2010.

-- Resource Capital Corp. (NYSE: RSO), paid a cash dividend of $0.25 per
   common share for its second quarter ended June 30, 2010.

Resource America, Inc. is a specialized asset management company that uses industry specific expertise to evaluate, originate, service and manage 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 investor relations at pkamdar@resourceamerica.com.

Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release and its other reports filed with the Securities and Exchange Commission. For information pertaining to risks relating to these forward-looking statements, reference is made to the section "Risk Factors" contained in Item 1A of the Company's Annual Report on Form 10-K and in other of its public filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect new or changing information or events except as may be required by law.

A written prospectus, relating to the securities to be offered by Resource Real Estate Opportunity REIT, Inc., may be obtained by contacting Chadwick Securities, Inc., 1845 Walnut Street, 10th Floor, Philadelphia, PA 19103.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The remainder of this release contains the Company's unaudited consolidated balance sheets, consolidated statements of operations, consolidated statements of cash flows, reconciliation of GAAP loss from continuing operations attributable to common shareholders to adjusted income (loss) from continuing operations attributable to common shareholders and reconciliation of GAAP revenues to adjusted revenues and reconciliation of GAAP operating (loss) income to adjusted operating income (loss).

                          RESOURCE AMERICA, INC.
                        CONSOLIDATED BALANCE SHEETS
                    (in thousands, except share data)


                                                    June 30,  September 30,
                                                      2010         2009
                                                  -----------  -----------
                                                  (unaudited)
ASSETS
  Cash                                            $     9,164  $    26,197
  Restricted cash                                       1,673        2,741
  Receivables                                           1,286        1,358
  Receivables from managed entities and related
   parties, net                                        67,495       55,047
  Investments in commercial finance - held for
   investment, net                                      1,125        2,429
  Investments in commercial finance - held for
   sale, net                                              515      142,701
  Investments in real estate, net                      24,977       27,313
  Investment securities available-for-sale, at
   fair value                                          18,704       19,500
  Investments in unconsolidated entities               14,269       16,241
  Property and equipment, net                           9,890       13,435
  Deferred tax assets                                  44,296       45,656
  Goodwill                                              7,969        7,969
  Intangible assets, net                                3,035        3,637
  Other assets                                         14,748       11,616
                                                  -----------  -----------
    Total assets                                  $   219,146  $   375,840
                                                  ===========  ===========

LIABILITIES AND EQUITY
Liabilities:
  Accrued expenses and other liabilities          $    36,004  $    40,986
  Payables to managed entities and related
   parties                                                173        1,284
  Borrowings                                           44,903      191,383
  Deferred tax liabilities                              2,046        2,046
                                                  -----------  -----------
    Total liabilities                                  83,126      235,699
                                                  -----------  -----------

Commitments and contingencies

Equity:
  Preferred stock, $1.00 par value, 1,000,000
   shares authorized; none outstanding                      -            -
  Common stock, $.01 par value, 49,000,000 shares
   authorized; 28,154,910 and 27,757,849
   shares issued, respectively (including
   nonvested restricted stock of 762,310 and
   552,461, respectively)                                 274          272
  Additional paid-in capital                          280,761      277,944
  Accumulated deficit                                 (29,134)     (22,471)
  Treasury stock, at cost; 9,131,350 and
   9,213,665 shares, respectively                     (99,454)    (100,367)
  Accumulated other comprehensive loss                (14,491)     (15,560)
                                                  -----------  -----------
    Total stockholders' equity                        137,956      139,818
  Noncontrolling interests                             (1,936)         323
                                                  -----------  -----------
    Total equity                                      136,020      140,141
                                                  -----------  -----------
      Total liabilities and  equity               $   219,146  $   375,840
                                                  ===========  ===========





                          RESOURCE AMERICA, INC.
                  CONSOLIDATED STATEMENTS OF OPERATIONS
                  (in thousands, except per share data)


                                 Three Months Ended     Nine Months Ended
                                      June 30,              June 30,
                                --------------------  --------------------
                                  2010       2009       2010       2009
                                ---------  ---------  ---------  ---------
REVENUES:
Real estate                     $  11,162  $   5,198  $  23,879  $  17,261
Commercial finance                  5,592     10,476     21,824     38,962
Financial fund management           8,484      6,884     24,357     25,414
                                ---------  ---------  ---------  ---------
                                   25,238     22,558     70,060     81,637
                                ---------  ---------  ---------  ---------
COSTS AND EXPENSES:
Real estate                         5,856      5,821     16,099     17,109
Commercial finance                  4,512      5,841     13,818     20,064
Financial fund management           6,471      4,722     15,875     15,532
General and administrative          2,946      3,371      9,146     11,049
Loss (gain) on sale of leases
 and loans                          7,154        (71)     7,705       (390)
Provision for credit losses         1,428      1,048      3,414      5,645
Depreciation and amortization       2,005      1,899      6,593      4,981
                                ---------  ---------  ---------  ---------
                                   30,372     22,631     72,650     73,990
                                ---------  ---------  ---------  ---------
OPERATING (LOSS) INCOME            (5,134)       (73)    (2,590)     7,647
OTHER (EXPENSE) INCOME:
Total other-than-temporary
 impairment losses on
 investment securities                (67)         -       (364)    (7,962)
Portion recognized in other
 comprehensive loss                     -          -          -          -
                                ---------  ---------  ---------  ---------
Net other-than-temporary
 impairment losses recognized
 in earnings                          (67)         -       (364)    (7,962)
Loss on sale of loans and
 investment securities, net           (27)         -       (451)   (11,588)
Interest expense                   (3,504)    (2,634)   (11,192)   (16,957)
Other income, net                     739        981      1,946      3,224
                                ---------  ---------  ---------  ---------
                                   (2,859)    (1,653)   (10,061)   (33,283)
                                ---------  ---------  ---------  ---------
Loss from continuing operations
 before taxes                      (7,993)    (1,726)   (12,651)   (25,636)
Income tax benefit                 (1,404)    (1,613)    (4,805)    (9,219)
                                ---------  ---------  ---------  ---------
Loss from continuing operations    (6,589)      (113)    (7,846)   (16,417)
Loss from discontinued
 operations, net of tax                (1)       (78)        (3)      (166)
                                ---------  ---------  ---------  ---------
Net loss                           (6,590)      (191)    (7,849)   (16,583)
Add:  Net loss (income)
 attributable to noncontrolling
 interests                          1,275        (13)     2,273      1,526
                                ---------  ---------  ---------  ---------
Net loss attributable to common
 shareholders                   $  (5,315) $    (204) $  (5,576) $ (15,057)
                                =========  =========  =========  =========
Basic loss per share
 attributable to common
 shareholders:
Continuing operations           $   (0.28) $   (0.01) $   (0.29) $   (0.81)
Discontinued operations                 -          -          -      (0.01)
                                ---------  ---------  ---------  ---------
Net loss                        $   (0.28) $   (0.01) $   (0.29) $   (0.82)
                                =========  =========  =========  =========
Weighted average shares
 outstanding                       19,140     18,567     18,972     18,437
                                =========  =========  =========  =========
Diluted loss per share
 attributable to common
 shareholders:
Continuing operations           $   (0.28) $   (0.01) $   (0.29) $   (0.81)
Discontinued operations                 -          -          -      (0.01)
                                ---------  ---------  ---------  ---------

Net loss                        $   (0.28) $   (0.01) $   (0.29) $   (0.82)
                                =========  =========  =========  =========
Weighted average shares
 outstanding                       19,140     18,567     18,972     18,437
                                =========  =========  =========  =========
Dividends declared per common
 share                          $    0.00  $    0.03  $    0.06  $    0.17
Amounts attributable to common
 shareholders:
Loss from continuing
 operations, net of tax         $  (5,314) $    (126) $  (5,573) $ (14,891)
Discontinued operations, net of
 tax                                   (1)       (78)        (3)      (166)
                                ---------  ---------  ---------  ---------
Net loss                        $  (5,315) $    (204) $  (5,576) $ (15,057)
                                =========  =========  =========  =========





                          RESOURCE AMERICA, INC.
                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (in thousands)
                                (unaudited)


                                                        Nine Months Ended
                                                            June 30,
                                                      --------------------
                                                        2010       2009
                                                      ---------  ---------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                              $  (7,849) $ (16,583)
Adjustments to reconcile net loss to net cash
 provided by (used in)
 operating activities:
  Net other-than-temporary impairment losses
   recognized in earnings                                   364      7,962
  Depreciation and amortization                          10,192      6,567
  Provision for credit losses                             3,414      5,645
  Equity in earnings of unconsolidated entities          (4,098)      (758)
  Distributions from unconsolidated entities              3,479      4,549
  Loss (gain) on sale of leases and loans                 7,705       (390)
  Loss on sale of loans and investment securities,
   net                                                      451     11,588
  Gain on resolution of assets                           (2,040)      (635)
  Deferred income tax benefit                                29     (4,348)
  Equity-based compensation issued                        2,874      3,898
  Equity-based compensation received                     (1,118)       (98)
Decrease (increase) in commercial finance investments
 - held for sale                                         30,959    (32,149)
Changes in operating assets and liabilities             (21,720)   (18,497)
                                                      ---------  ---------
Net cash provided by (used in) operating activities      22,642    (33,249)
                                                      ---------  ---------
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures                                       (320)      (244)
Payments received on real estate loans and real
 estate                                                   8,355     10,044
Investments in unconsolidated real estate entities       (1,908)    (3,230)
Return of capital from investments in unconsolidated
 entities                                                   344        684
Purchase of commercial finance assets - held for
 investment                                                   -    (41,942)
Payments received on commercial finance assets - held
 for investment                                               -     44,607
Purchase of loans and investments                        (1,011)   (19,203)
Proceeds from sale of loans and investment
 securities                                               2,740      4,561
Principal payments received on loans                          -      4,061
                                                      ---------  ---------
Net cash provided by (used in) investing activities       8,200       (662)
                                                      ---------  ---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in borrowings                                   81,802    350,856
Principal payments on borrowings                       (127,889)  (322,424)
Repayment from managed entity on RCC lease portfolio
 purchase                                                     -      4,500
Dividends paid                                           (1,087)    (3,020)
Decrease in restricted cash                               1,068      9,532
Repurchase of subsidiary stock held by a
 noncontrolling stockholder                                   -       (264)
Other                                                    (1,766)    (2,533)
                                                      ---------  ---------
Net cash (used in) provided by financing activities      47,872     36,647
                                                      ---------  ---------
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Operating activities                                         (3)        (6)
Financing activities                                          -       (159)
                                                      ---------  ---------
Net cash used in discontinued operations                     (3)      (165)
                                                      ---------  ---------
(Decrease) increase in cash                             (17,033)     2,571
Cash at beginning of year                                26,197     14,910
                                                      ---------  ---------
Cash at end of period                                 $   9,164  $  17,481
                                                      =========  =========


This press release contains supplemental financial information determined
by methods other than in accordance with Accounting Principles Generally
Accepted in the United States of America ("GAAP").  Management believes the
presentation of this non-GAAP financial measure excluding the impact of
these items provides useful supplemental information that is essential to a
proper understanding of the financial results of the Company.  These
disclosures should not be viewed as a substitute for results determined in
accordance with GAAP, nor are they necessarily comparable to non-GAAP
performance measures that may be presented by other companies.




SCHEDULE I


  RECONCILIATION OF GAAP LOSS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO
 COMMON SHAREHOLDERS TO ADJUSTED INCOME (LOSS) FROM CONTINUING OPERATIONS
                    ATTRIBUTABLE TO COMMON SHAREHOLDERS
                  (in thousands, except per share data)
                                (unaudited)


                                 Three Months Ended     Nine Months Ended
                                      June 30,              June 30,
                                --------------------  --------------------
                                  2010       2009       2010       2009
                                ---------  ---------  ---------  ---------
Loss from continuing operations
 attributable to common
 shareholders - GAAP            $  (5,314) $    (126) $  (5,573) $ (14,891)
Adjustments, net of tax:
  Loss on sale of leases            1,619          -      2,314          -
  Deferred tax asset                4,250          -      3,038          -
                                ---------  ---------  ---------  ---------
Adjusted income (loss) from
 continuing operations
 attributable to common
 shareholders (1)               $     555  $    (126) $    (221) $ (14,891)
                                =========  =========  =========  =========

Adjusted weighted average
 diluted shares outstanding (2)    19,512     18,567     18,972     18,437
                                =========  =========  =========  =========

Adjusted income (loss) from
 continuing operations
 attributable to common
 shareholders per common
 share-diluted                  $    0.03  $   (0.01) $   (0.01) $   (0.81)
                                =========  =========  =========  =========

(1) During the three and nine months ended June 30, 2010, in connection
    with a sale of a leasing portfolio held by the Company's commercial
    finance business and losses generated from the Company's commercial
    finance business resulting in the elimination of certain state tax
    benefits, which were recorded as a reduction to the Company's tax
    benefit, the Company recorded several significant adjustments that it
    believes do not directly impact its continuing operations.  For
    comparability purposes, the Company is presenting adjusted income
    (loss) from continuing operations attributable to common shareholders
    because it facilitates the evaluation of the Company's underlying
    operating performance without the effect of adjustments that do not
    directly relate to that performance.  Adjusted income (loss) from
    continuing operations attributable to common shareholders should not be
    considered as an alternative to loss from continuing operations
    attributable to common shareholders (computed in accordance with GAAP).
    Instead, adjusted income (loss) from continuing operations attributable
    to common shareholders should be reviewed in connection with loss from
    continuing operations attributable to common shareholders in the
    Company's consolidated financial statements, to help analyze how the
    Company's business is performing.
(2) Dilutive shares used in the calculation of adjusted income (loss) from
    continuing operations attributable to common shareholders per common
    share-diluted includes an additional 372,000 shares for the three
    months ended June 30, 2010, which were anti-dilutive, and therefore,
    not used in the calculation of loss from continuing operations
    attributable to common shareholders per common share-diluted.







SCHEDULE II


Reconciliation of GAAP Revenues to Adjusted Revenues and Reconciliation of
     GAAP Operating (Loss) Income to Adjusted Operating Income (Loss)


                                 Three Months Ended     Nine Months Ended
                                      June 30,              June 30,
                                --------------------  --------------------
                                  2010       2009       2010       2009
                                ---------  ---------  ---------  --------- 
Revenues:
  Real estate                   $  11,162  $   5,198  $  23,879  $  17,261
  Commercial finance                5,592     10,476     21,824     38,962
  Financial fund management         8,484      6,884     24,357     25,414
                                ---------  ---------  ---------  ---------
Total revenues - GAAP              25,238     22,558     70,060     81,637

Adjustments:
  Fair value adjustments (1)           44       (263)    (2,555)      (226)
                                ---------  ---------  ---------  ---------
Adjusted revenues (2)           $  25,282  $  22,295  $  67,505  $  81,411
                                =========  =========  =========  =========

Operating (loss) income - GAAP  $  (5,134) $     (73) $  (2,590) $   7,647

Adjustments:
  Loss (gain) on sale of leases
   and loans (3)                    7,154        (71)     7,705       (390)
  Fair value adjustments (1)           44       (263)    (2,555)      (226)
                                ---------  ---------  ---------  ---------
Adjusted operating income
 (loss) (2)                     $   2,064  $    (407) $   2,560  $   7,031
                                =========  =========  =========  =========


(1) Reflects pre-tax fair value adjustments on investments reported under
    the equity method of accounting.
(2) The Company's management views adjusted revenues and adjusted operating
    income (loss), both non-GAAP measures, as useful and appropriate
    supplements to GAAP revenues and operating (loss) income since they
    exclude fair value adjustments related to current credit market
    conditions and loss (gain) on sale of leases and loans related to our
    commercial finance business which are not indicative of the Company's
    current operating performance.  Because not all companies use the same
    calculations, this presentation of adjusted revenues and adjusted
    operating income (loss) may not be comparable to other,
    similarly-titled measures of other companies.
(3) Reflects the pre-tax loss (gain) on sale of leases and loans reported
    in the Company's commercial finance business.

Contact Information: CONTACT: THOMAS C. ELLIOTT CHIEF FINANCIAL OFFICER RESOURCE AMERICA, INC. ONE CRESCENT DRIVE, SUITE 203 PHILADELPHIA, PA 19112 215/546-5005, 215/546-4785 (fax)