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                            BFC FINANCIAL CORPORATION
                          DECLARES A 25% STOCK DIVIDEND


FORT  LAUDERDALE,  FL,  November 10, 2003 - BFC Financial  Corporation  (NASDAQ:
BFCF)  announced  today that its Board of Directors has declared a five for four
common stock  split,  effected in the form of a 25% stock  dividend,  payable in
Class A Common Stock to both BFC Financial  Corporation  Class A (NASDAQ:  BFCF)
and Class B (OTCBB: BFCFB) common stockholders of record at the close of trading
on Monday,  November 17, 2003. The stock dividend will be payable on December 1,
2003.

ABOUT BFC FINANCIAL CORPORATION:

BFC  Financial  Corporation  (NASDAQ:  BFCF) is a unitary  savings  bank holding
company as a consequence of its ownership of 13.2 million shares of BankAtlantic
Bancorp.

ABOUT BANKATLANTIC BANCORP:
BANKATLANTIC  BANCORP (NYSE:  BBX) is a diversified  financial  services holding
company  and the parent  company of  BankAtlantic,  Ryan Beck & Co.,  and Levitt
Corporation.  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.RYANBECK.COM
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WWW.LEVITTCORPORATION.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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BFC FINANCIAL CORPORATION CONTACT INFORMATION:
Cenia Gilbert
Telephone:  (954) 760-5200
Email:  INFO@BFCFINANCIAL.COM


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