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Contact: Steven Kessler
Chief Financial Offficer
Or
Pamela Schreiber
Investor Relations
Resource America, Inc.
1521 Locust Street-4th Floor
Philadelphia, Pa. 19102
215/546-5005, 215/546-5388 fax
RESOURCE AMERICA, INC.
ANNOUNCES COMPLETION OF STOCK OFFERING
AND CASH DIVIDEND
Philadelphia, PA, 4/29/1998 - Resource America, Inc. (NASDAQ; REXI) (the "Company")announced the completion of an underwritten offering of 1,753,044 shares of common stock that raised a total of $112.6 million. The Company has granted the underwriters a 30-day option to purchase up to 225,000 additional shares of common stock to cover over-allotments.
The Company also announced that its Board of Directors has authorized the payment on May 29th,1998 of a quarterly cash dividend on its common stock of $. 10 per share to all holders of record at the close of business on May 15, 1998.
Resource America, Inc. is a specialty finance company principally engaged in real estate finance and equipment leasing. In addition, the Company owns, manages and operates energy assets in the Appalachian Basin, and has sponsored Resource Asset Investment Trust, a publicly held real estate investment trust.
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