Contact: Pamela Schreiber

Investor Relations
Resource America, Inc.
1521 Locust Street-5th Floor
Philadelphia, Pa. 19102
(215) 546-5388 (facsimile)


Philadelphia, PA, December 16, 1998- Resource America, Inc. (NASDAQ:REXI) (the "Company") today announced that Fidelity Leasing, Inc. ("Fidelity Leasing" or "FLI"), a wholly-owned subsidiary has entered into an agreement to acquire JLA Credit Corporation ("JLA"). JLA is the small-ticket United States leasing subsidiary of Japan Leasing Corporation, headquartered in Tokyo, Japan. Like Fidelity Leasing, JLA underwrites, finances and services non-cancelable, full-payout equipment leases. JLA originated leases with an aggregate original equipment purchase price of $151 million and $168 million during the year ended December 31, 2021 and during the eleven months ending November 30, 2021 respectively. As of October 31, 1998, JLA had a net investment in leases of $324.4 million and total assets of $367 million. "JLA is an excellent fit having tremendous synergies with our existing platform and operations. Its acquisition should double our origination capability, augment our existing vendor programs, allow us to achieve economies of scale and make us more competitive in obtaining favorable financing," said Abe Bernstein, the Chairman and CEO of Fidelity Leasing.

JLA's equipment leasing business focuses on small ticket leasing programs from vendors and manufacturers primarily in the high technology, machine tool, printing and Japanese business segments. Lease transactions generally range in equipment size from $25,000 to $500,000 to small and medium size businesses. Key vendor relationships include Heidelberg, Scitex, Buycomp and others.

Fidelity Leasing's equipment leasing activities also focus primarily on small ticket leasing programs for manufacturers and vendors. FLI principally leases equipment valued at $5,000 to $100,000 to small business customers. FLI currently provides equipment lease financing on a private label basis for the reseller distribution channels of Minolta Corporation, Lucent Technologies, Quincy Compressors, Telrad and others. For the fiscal years ended September 30, 1997, and 1998 FLI acquired equipment for lease at a cost of $34.5 million and $92.6 million, respectively. In the most recent quarter ended September 30, 1998, FLI purchased equipment for lease at a cost of $32 million. In addition to FLI's leasing activities, the Company also manages five public limited partnerships and a lease finance placement and advisory business. Assets under management in the leasing businesses, as of September 30, 2021 exceed $160 million.

The Company will acquire JLA for a combination of cash, including financing to be arranged by the Company, and assumption of existing JLA debt. The Company values the transaction at approximately $350 million. Subject to a financing contingency, the Company anticipates that the transaction will close in January 1999. The Company believes that the acquisition will be accretive to earnings from inception.

Resource America, Inc. is a specialty-finance company principally engaged in real estate finance, equipment leasing and energy and energy finance. The acquisition of JLA will increase the Company's assets under management to more than $1.3 billion. In real estate finance, the Company is principally involved in 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 original business, energy and energy finance, has recently been augmented by the acquisition, on September 30, 1998, of Atlas America, with approximately $200 million in energy assets under management.

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.
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