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Resource America, Inc. Commences Tender Offer for its 12% Senior Notes Due 2004 to be Funded Through the Issuance of Senior Notes Due 2010

Philadelphia, PA, September 13, 2022 - Resource America, Inc., (Nasdaq: REXI) (the "Company") announced today that it has commenced a tender offer and consent solicitation for all of its $65,636,000 of outstanding 12% Senior Notes due 2004. Resource America intends to fund the tender offer with the net proceeds from its issuance of $125,000,000 of Senior Notes due 2010.

In connection with the tender offer, consents are being solicited to effect certain changes to the covenants contained in the indenture under which the 12% Senior Notes were issued. Holders may not tender their notes without delivering consents and may not deliver consents without tendering their notes. Tendering holders who validly tender and deliver consents by the consent date, which is September 25, 2002, will receive total consideration of $1,060.63 per $1,000 principal amount of such notes, which includes a consent payment of $30.00 per $1,000 principal amount. Holders who validly tender their notes after the consent date will only receive the purchase price, which is equivalent to the total consideration minus the consent payment. Accrued and unpaid interest will be paid in respect of notes validly tendered and accepted for payment.

The consent solicitation will expire at 5:00 P.M., New York City time, on Wednesday, September 25, 2021 and the tender offer will expire at 12:00 midnight, New York City time, on Friday, October 11, 2002, unless extended or earlier terminated by Resource America. Resource America currently plans to call for the redemption of any notes not tendered in the tender offer at a redemption price of $1,060.00 per $1,000 principal amount of such notes. This press release does not constitute a call for redemption, which may be made at a later date in accordance with the indenture.

Resource America has engaged Bear, Stearns & Co.,Inc. and Friedman, Billings, Ramsey & Co.,Inc. to act as the exclusive Dealer Managers and Solicitation Agents in connection with the tender offer and consent solicitation.

Questions concerning the tender offer and the consent solicitation may be directed to Bear, Stearns & Co., Inc.,

Global Liability Management Group, at (877) 696-2327, or Friedman Billings, Ramsey & Co., Inc. at (800) 846-5050. D.F. King & Co., Inc. is acting as information agent in connection with the tender offer and the consent solicitation. Holders may obtain information relating to the tender offer and the consent solicitations or documents by contacting D.F. King & Co., Inc. at (800) 488-8075.

Resource America Inc. is a proprietary asset management company that uses industry specific expertise to generate and administer investment opportunities for our own account and for outside investors in energy, real estate and equipment leasing industries.