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January 7, 2005 -- FORT LAUDERDALE, FL, -- BFC Financial Corporation (“BFC”) today announced the 2004 stock performance of its family of public companies.
For the year ending December 31, 2004, BFC’s Class A Common Stock (NASDAQ: BFCF) increased 42%. Additionally, all of BFC’s publicly traded holdings recorded significant gains, including BankAtlantic Bancorp (NYSE: BBX), which increased 43%, Levitt Corporation (NYSE: LEV), which advanced 54%, and Bluegreen Corporation (NYSE: BXG), which climbed an impressive 217%.
“We are very pleased with the stock performance and increased shareholder value of BFC and its diverse portfolio of companies,” commented Chairman and Chief Executive Officer, Alan B. Levan. “BFC enjoyed a superb year in 2004, and all of its family of companies and holdings outperformed several of the major broad market indices. In comparison, the Dow Jones Industrials were up 5% in 2004, the S&P 500 increased 11% and the Russell 2000 rose 18%, according to Bloomberg.”
About BFC
BFC Financial Corporation (NASDAQ: BFCF) is an emerging and diversified holding company that invests in and acquires private and public companies in different industries. BFC’s current holdings include BankAtlantic Bancorp (NYSE: BBX) and its subsidiaries, BankAtlantic and Ryan Beck & Co.; Levitt Corporation (NYSE: LEV), which includes its subsidiaries Levitt and Sons™ and Core Communities; Levitt Corporation's 36% ownership in Bluegreen Corporation (NYSE: BXG), as well as a minority interest in the renowned national restaurant chain, Benihana, Inc. (NASDAQ: BNHNA). BFC’s direct and indirect diverse ownership interests span a variety of business sectors, including consumer and commercial banking; brokerage and investment banking services; homebuilding; development of master-planned communities; the hospitality and leisure sector through the development, marketing and sales of vacation resorts on a time-share, vacation club model; and the restaurant and family dining business.
For further information, please visit our website at: www.BFCFinancial.com.
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BFC Contact Info:
Investor and Corporate Communications:
Sharon Lyn, Vice President
Phone: (954) 760-5151
Fax: (954) 760-5415
Email: CorpComm@BFCFinancial.com
Investor Relations:
Leo Hinkley, Senior Vice President
Phone: (954) 760-5151
Fax: (954) 760-5415
Email: InvestorRelations@BFCFinancial.com
Mailing Address:
BFC Financial Corporation
Attn: Investor Relations
1750 East Sunrise Blvd., Fort Lauderdale, FL 33304
The matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve substantial risks and uncertainties. Future results are subject to risks and uncertainties, many of which are beyond the Company’s control. Past performance is not indicative of future results and no representation has been otherwise expressed or implied. Future performance is also subject to the risks and other factors detailed in reports filed by the Company with the Securities and Exchange Commission.
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