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Contact: Michael L. Staines
Sr. Vice President
Resource America, Inc.
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
(215) 546-5005 : (215) 546-5388 (facsimile)
RESOURCE AMERICA, INC. RECEIVES S.E.C. EFFECTIVENESS FOR SECONDARY OFFERING OF 1,753,044 SHARES AND OVER ALLOTMENT OPTION FOR 225,000 SHARES
Philadelphia, PA, 4/24/1998 - Resource America, Inc.
(NASDAQ:REXI) (the "Company") announces that at 9:33 today its registration
statement on Form S-3 registering the sale of 1,753,044 shares of its common stock and an underwriters' over-allotment option for 225,000 shares became effective with the Securities and Exchange Commission. The offering price for the shares is $64.25 per share.
Resource America, Inc. operates a specialty finance business
focused on real estate finance and equipment leasing.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws
of any such state. Any offer is made only by the Prospectus, copies of which can be obtained by contacting:
Friedman, Billings, Ramsey & Co., Inc.
Potomac Tower, 1001 19th Street North
Arlington, VA 22209.
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