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Contact: Pamela Schreiber
Investor Relations
Resource America, Inc.
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
(215) 546-5005
(215) 546-5388 (facsimile)
RESOURCE AMERICA, INC. ANNOUNCES OPENING OF FIDELITY
LEASING CANADIAN SUBSIDIARY
Philadelphia, PA, 9/28/1998 - Resource America, Inc. (NASDAQ:REXI) (the "Company") announces today that Fidelity Leasing, Inc., its equipment leasing subsidiary, has formed Fidelity Leasing Canada, Inc., to be based in Toronto, Canada. Fidelity Leasing Canada, Inc. will enable the Company to provide better and expanded North American service to its existing vendor programs and to originate Canadianbased leasing programs.
Fidelity Leasing, Inc. anticipates expansion into Europe through a strategic partnership with a major European financial institution with which it is presently in negotiations.
Fidelity Leasing, Inc. is a wholly owned subsidiary of Resource America, Inc., and is engaged in the leasing of small ticket equipment such as computer systems, copiers, and related equipment to capital intensive companies. The Company markets its equipment leasing products through vendor programs with equipment manufacturers, distributors and other vendors such as Minolta Corporation, Lucent Technologies, Inc., and Tech Data.
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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