BFC Financial Kicks-Off Electronic Trading For VDM, Underscoring The Company's Market-Leading Position in Hybrid Markets NEW YORK, June 22 /PRNewswire/ -- VDM Specialists, LLC today announced that it has commenced managing the NYSE Arca trading of BFC Financial Corporation ("BFC") (NYSE Arca: BFF), a Fort Lauderdale, Florida-based holding company that invests in and acquires diverse operating businesses. The new listing is VDM Specialists' first NYSE Arca-traded stock, underlining VDM's strategy of bringing its expertise in market-making to hybrid markets. "VDM has built an innovative technology platform that enables us to act as a premier liquidity provider for multiple markets," said Robert Fagenson, CEO of VDM Specialists, LLC. "As a 'Lead Market Maker' on NYSE Arca, we are well- equipped to provide companies with the market quality they seek." In the NYSE Arca market model, listed issuers select a "Lead Market Maker" (LMM) responsible for providing market quality, as measured by tight spreads and speed. In addition, as a liquidity provider, the LMM assures sustained depth of trading in the stock. "The move to the NYSE Arca will contribute to our efforts to enhance shareholder value and increase the liquidity and visibility of our stock," said Alan B. Levan, Chairman and CEO. "VDM has demonstrated that it has the technology and the expertise to help us realize the full benefits of moving to NYSE Arca." BFC's Class A Common Stock has been trading on the NASDAQ National Market under the symbol "BFCF" since April 2003. About BFC Financial Corporation: BFC Financial Corporation (NYSE Arca: BFF) is a diversified holding company that invests in and acquires private and public companies in different industries. BFC is typically a long-term, "buy and hold" investor whose direct and indirect, diverse ownership interests span a variety of business sectors, including consumer and commercial banking; brokerage and investment banking services; homebuilding; development of master-planned communities; the hospitality and leisure sector through the development, marketing and sales of vacation resorts on a time-share, vacation club model; and the restaurant and family dining business. BFC's current major holdings include BankAtlantic Bancorp and its subsidiaries, BankAtlantic and Ryan Beck Holdings Inc.; Levitt Corporation, which includes its subsidiaries Levitt and Sons(TM) and Core Communities; Levitt Corporation's 31% ownership in Bluegreen Corporation, as well as a noncontrolling interest in the renowned national restaurant chain, Benihana, Inc. For further information on BFC, please visit: http://www.bfcfinancial.com/. About VDM Specialists, LLC VDM Specialists represents over 400 leading issues, including Pfizer (PFE), Hewlett-Packard (HPQ), Disney (DIS), and Tiffany & Co. (TIF). The company is part of publicly traded Van der Moolen Holdings NV (NYSE:VDM). For more information about VDM Specialists, please visit http://www.vdm-usa.com/. DATASOURCE: VDM Specialists CONTACT: Mark A. Baer, Managing Director, +1-646-576-2700, mbaer@vdm- usa.com, or Sanuber Bilguvar, Gavin Anderson & Company, +1-212-515-1957, Web site: http://www.vdm-usa.com/ http://www.bfcfinancial.com/

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