ACE=3 VSPACE=0>7/14/1998


Daniel G. Cohen, President & Chief Operating Officer
Steven J. Kessler, Senior Vice President & Chief Financial Officer
Resource America, Inc.
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
(215) 546-5005 :(215) 546-5388 (facsimile)

RESOURCE AMERICA, INC. announces agreement to acquire THE ATLAS GROUP, INC.

Philadelphia, PA, 7/14/1998 - Resource America, Inc. (NASDAQ:REM [the "Company"]) announces that it has signed an agreement to acquire the stock of The Atlas Group, Inc. ('Atlas'), a privately held company headquartered in suburban Pittsburgh, Pennsylvania. Total consideration will be in the form of approximately $47 million of newly issued Company common stock and assumption of Atlas' debt at closing.

For more than 25 years, Atlas has been a leading participant in the energy-finance industry, offering numerous energy related investment products through a nationwide network of broker/dealers, currently managing more than $300 million of energy assets. In conjunction with this activity, Atlas has participated in each of the more than 1400 wells it has drilled, predominantly located in the Appalachian Basin, retaining an interest in the production and providing operating services for each of the wells. Atlas also has constructed and operates more than 650 miles of gas gathering pipelines.

The Company will consolidate its existing energy activities, operating as Resource Energy, Inc. ('Resource Energy") and the operations of Atlas, into a newly formed wholly-owned subsidiary, Atlas America, Inc. ('Atlas America") to be headquartered in Atlas' existing Pittsburgh offices. Current Atlas officers and staff, lead by James R. O'Mara, President and Chief Executive Officer, will retain similar positions with Atlas America. Additionally, current Resource Energy staff will assume a variety of new operating responsibilities in Atlas America.

Atlas America, combining the operations of Atlas and Resource Energy, will manage more than 100 partnerships and joint ventures, with a value exceeding $350 million, have an interest in and/or operate more than 2,400 predominantly gas wells and more than 1,250 miles of gas gathering pipeline system. Daily production on a gas equivalent basis under the Company's management is expected to increase from approximately 8.5 million cubic feet to 41.3 million cubic feet. Proved and producing reserves under the Company's management will increase from approximately 60.7 billion cubic feet to 216.9 billion cubic feet of natural gas equivalent. In addition, Atlas America will have interests in producing properties in Montana, Oklahoma, Texas, Utah and Louisiana.

Resource America, Inc. is a specialty-finance company principally engaged in real estate finance and equipment leasing. The acquisition of Atlas' energy finance activities will increase the Company's assets under management to more than $930 million. In real estate finance, the Company has developed a commercial mortgage loan acquisition and resolution business that involves the purchase at a discount of commercial real estate loans from a variety of financial institutions and the restructuring and refinancing of those loans. The Company's equipment leasing activities are focused on manufacturer and vendor programs - leasing "small ticket" items of $5,000 to $100,000 in value.

Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of certain factors, including competition within the energy finance industry, climatic conditions and the price of oil and gas in the Appalachian area, actual versus projected volumetric production from the Company's energy investments, and the cost of supplies and services in the energy industry.
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