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

    FORT LAUDERDALE, Fla., and HORSHAM, Pa., March 29 BankAtlantic, a wholly owned subsidiary of BankAtlantic Bancorp Inc.
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 (http://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 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.