OPEN from American Express, BankAtlantic Announce Agent Bank Alliance to Help Serve Small Business Customers

Agreement Marks OPEN from American Express' First Florida Strategic Partnership

NEW YORK, August 15, 2007 -- OPEN from American Express® and BankAtlantic announced today that BankAtlantic will be the first financial institution in Florida to offer American Express® Business Cards. The agent bank agreement calls for the companies to jointly market small business charge and credit cards that carry the BankAtlantic and American Express brands. Beginning this month, the companies will market two co-branded Cards to BankAtlantic's small business customers in nearly 100 stores in Florida. BankAtlantic stores are located in Broward, Miami-Dade, Palm Beach, Martin, and St. Lucie counties, as well as the Tampa Bay and Orlando markets.

BankAtlantic's small business customers will be eligible to apply for the Business Gold Rewards Card, which provides Cardmembers with automatic enrollment in the Membership Rewards® program(1) from American Express which allows them to earn valuable rewards points toward travel, dining, entertainment and retail purchases. In addition they will be able to apply for the SimplyCash(SM) Business Card(2), which automatically offers up to 5% cash back annually on gas, office supplies, and wireless purchases and 1% on virtually all other purchases. Both Cards include access to the OPEN Savings® program(3), which gives Cardmembers automatic savings when using their Card for purchases with partners such as FedExKinkos®, Hertz®, Hyatt Hotels & Resorts®, Delta Airlines®, JetBlue Airways® and more.

American Express will issue the new Cards and service the accounts. BankAtlantic and OPEN from American Express will market the Cards through BankAtlantic's in-store, direct mail, telemarketing and online channels.

The agent bank alliance brings together OPEN from American Express, a leading issuer of small business credit and charge card products in the United States, with one of the largest financial institutions based in the state of Florida. BankAtlantic holds assets of more than $6 billion.

"Our partnership with BankAtlantic allows us to broaden our reach to additional Cardmembers and share our industry-leading products and capabilities with small business customers in Florida," said Raymond Joabar, Senior Vice President, OPEN from American Express. "BankAtlantic is an excellent partner for OPEN and our alliance will allow small business customers to enjoy best-in-class, co-branded card products from two trusted brands."

"We believe these products are an excellent complement to BankAtlantic's existing business product offerings," said Nona Wilgus, Senior Vice President from BankAtlantic. "BankAtlantic is excited to partner with American Express and provide these offerings to our customers."

About OPEN from American Express
OPEN is the American Express team dedicated exclusively to the success of small business owners and their companies. The OPEN Team supports business owners with unparalleled service. With tailored products and services, the team delivers purchasing power, flexibility, control and rewards to help customers run their business. Specifically, business owner customers can leverage an enhanced set of products, tools, services and savings, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about OPEN, visit www.OPEN.com , or call 1-800-NOW-OPEN to apply for a Card or loan. Terms and conditions apply.

American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.

About BankAtlantic
BankAtlantic, "Florida's Most Convenient Bank", with $6 billion in assets and more than 95 stores is one of the largest financial institutions headquartered in Florida and provides a comprehensive offering of banking services and products via its broad network of community stores throughout Florida and its online banking division - BankAtlantic.com. BankAtlantic operates more than 250 conveniently located ATMs. BankAtlantic is open 7 days a week* and offers holiday hours, extended weekday hours, including several stores open until midnight, Totally Free Online Banking & Bill Pay, 24/7 Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift.

For further information visit www.BankAtlantic.com

* A few locations have limited 7 Day Banking due to building restrictions.

(1) Some Cards require enrollment and the payment of an annual program fee. Terms and conditions apply.

(2) Cash Rebate: Your Rebate is awarded monthly on the amount of your purchases (net of credits for purchases) made during the previous billing period, based on the following structure: You will receive a Rebate of 5% for purchases of wireless telephone services, automobile gasoline, and office supplies and equipment, in each case not purchased at warehouse clubs, superstores or supermarkets ("5% Purchase(s)"). You will receive a Rebate of 1% for all other purchases. Important: You will receive a 5% Rebate only if the merchant submits the Charge for your 5% Purchase under the appropriate merchant code, industry code and required service or product identifier established by us with/for the merchant. For example, if a general merchandise retailer sells office supplies, and the retailer processes your Card transaction as a general merchandise charge instead of an office supply charge, you will receive a Rebate of 1%, not a Rebate of 5%. You will not receive a Rebate for balances transferred from other accounts, purchases of American Express Travelers Cheques or American Express Gift Cheques, fees, Finance Charges, Cash Advances and similar means of accessing your Card Account. Additional terms and conditions apply.

(3) OPEN Savings®: Payment must be made with an American Express® Business Card at the time of purchase. Savings will be credited to your American Express Business Card billing statement. All savings referenced are in addition to any offers made by participating companies. Participation and offers are subject to change without notice. Terms and conditions apply. For more information, please visit opensavings.com.

Source: American Express