EXHIBIT 99.1
                            BFC FINANCIAL CORPORATION
                  BEGINS TRADING ON THE NASDAQ NATIONAL MARKET

                 - LAUNCHES NEW WEBSITE: WWW.BFCFINANCIAL.COM -


FORT  LAUDERDALE,  FL, May 5, 2003 - BFC Financial  Corporation  (NASDAQ:  BFCF)
announced  that its  Class A Common  Stock  began  trading  today on the  Nasdaq
National Market under the symbol "BFCF".

Effective today, BFC Financial  Corporation's Class A Common Stock began trading
on the Nasdaq National Market under its new ticker symbol "BFCF".  BFC Financial
Corporation's Class A Common Stock,  previously listed on the OTC Bulletin Board
under the ticker symbol "BFCFA",  ceased trading at market close on Friday,  May
2, 2003.  The  Company's  Class B Common Stock will continue to trade on the OTC
Bulletin Board under the symbol "BFCFB".

In conjunction with its new listing on the Nasdaq National Market, BFC Financial
Corporation  launched  it's new website:  WWW.BFCFINANCIAL.COM.  The new website
will  serve  as a  centralized  portal  for BFC  Financial  Corporation  and its
subsidiaries, and features an enhanced investor relations section.

ABOUT BFC FINANCIAL CORPORATION:
BFC Financial  Corporation (NASDAQ:  BFCF) is a holding company as a consequence
of its ownership of 13.2 million  shares of  BankAtlantic  Bancorp  (NYSE:  BBX)
common stock.

BANKATLANTIC BANCORP:
BANKATLANTIC  BANCORP (NYSE:  BBX) is a diversified  financial  services holding
company and the parent company of  BankAtlantic,  Levitt  Corporation,  and Ryan
Beck & Co. Through these subsidiaries, BankAtlantic Bancorp provides a full line
of products and services encompassing consumer and commercial banking, brokerage
and investment banking, and real estate development.

To receive  future news  releases or  announcements  directly via Email,  please
click on the Email Broadcast Sign Up button on WWW.BFCFINANCIAL.COM

FOR FURTHER INFORMATION, PLEASE VISIT OUR WEBSITES:
WWW.BFCFINANCIAL.COM
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WWW.BANKATLANTICBANCORP.COM
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WWW.BANKATLANTIC.COM
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WWW.LEVITTANDSONS.COM
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WWW.CORECOMMUNITIES.COM
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WWW.LEVITTCOMMERCIAL.COM
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WWW.RYANBECK.COM
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WWW.GMSGROUP.COM
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BFC FINANCIAL CORPORATION CONTACT INFORMATION:
Cenia Gilbert
Telephone:  (954) 760-5200
Email:  INFO@BFCFINANCIAL.COM


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