PHILADELPHIA, PA–(EMWNews – August 7, 2008) – Resource America, Inc. (NASDAQ: REXI) (the

“Company” or “Resource”) announced that it received net proceeds of

approximately $18.4 million in connection with the substantial settlement

of a discounted loan which was secured by a 15% interest in the Evening

Star Building in Washington DC. KanAm Grund Kapitalanlagegesellschaft mbH

(“KanAm Grund”) on behalf of the KanAm US-grundinvest Fonds acquired the

15% interest. The Company retains a mezzanine note secured by a 5%

interest in the property. The Company will recognize a pre-tax gain of

approximately $7.5 million associated with this transaction in the quarter

ending September 30, 2008.

The Evening Star Building is a 218,000 SF Class A office building located

in Washington, DC. Resource originally invested in the Evening Star

Building in 1998. In 2003, Resource facilitated the sale of an 80%

interest to KanAm Grund and has continued to assist in the asset management

of the property.

According to Alan Feldman, SVP of Resource America and CEO of Resource Real

Estate (“RRE”), the Company’s real estate operating company, “This

transaction epitomizes our strategy of transitioning from an asset owner to

a strategic asset manager while enabling the company to increase its return

on invested capital. The value realized from the Evening Star Building

demonstrates that even in very challenging markets like today’s, a

well-managed, blue chip asset located in a prime market will be well

valued. We are very pleased with our partnership with KanAm Grund, and

look forward to making even greater returns on our remaining 5% investment

in the Evening Star Building.”

“This asset has performed very well for us and it has been a great result

for KanAm Grund to acquire an even greater stake in it. We look forward to

continuing our successful relationship with Resource America,” said Greg

Moore and Manish Bhatia from KanAm Grund America LP, the wholly owned

subsidiary of KanAm Grund which assisted in the buy-out.

“Simultaneous with the buy-out, KanAm Grund refinanced the property on a

long term basis with a large German Bank, showing that even in the current

capital market environment, capital is available for a trophy property

backed by a reliable institutional sponsor such as KanAm Grund,” said

Olivier Catusse, General Manager with KanAm Grund in Frankfurt.

RRE owns and manages real estate investment vehicles on behalf of itself

and for outside investors and operates the Company’s commercial real estate

debt platform. In total, RRE manages over $1.75 billion in assets under

management as of June 30, 2008. RRE offers investment programs that

acquire stable income-generating multifamily real estate assets throughout

the U.S. in areas with solid demographic and real estate fundamentals that

provide tax-advantaged cash flows to investors. RRE currently manages an

apartment portfolio of more than 11,000 multifamily units representing 44

properties.

Resource America, Inc. is a specialized asset management company that uses

industry specific expertise to generate and administer investment

opportunities for its own account and for outside investors in the

commercial finance, real estate and financial fund management sectors. For

more information please visit our website at www.resourceamerica.com or

contact [email protected].

KanAm Grund Kapitalanlagegesellschaft mbH, headquartered in Frankfurt,

Germany, was formed in May 2001 and is the first independent real estate

investment company in the form of an open-ended real estate fund in

Germany. It performs all of the functions of a special financial

institution, including portfolio management and analysis, property

acquisition, facility management, marketing, accounting and controlling.

For more information, visit www.kanam-grund.de.