BankUnited Financial Corporation Holds Special Meeting of Stockholders

June 27, 2008 9:15 AM EDT

CORAL GABLES, Fla.--(BUSINESS WIRE)--

BankUnited Financial Corporation (NASDAQ: BKUNA), parent company of BankUnited FSB, today announced that it is pursuing alternative sources of capital and strategic opportunities in addition to those previously announced.

The Company held a special meeting of stockholders at which stockholders approved an amendment to the company's Articles of Incorporation to increase the authorized shares of Class A Common Stock from 200,000,000 shares to 500,000,000 shares.

About BankUnited

BankUnited Financial Corp. is the holding company for BankUnited FSB, the largest banking institution headquartered in Florida, based on assets. At March 31, 2008, BankUnited had assets of $14.3 billion.

Serving customers through 86 branches in 13 coastal counties, including Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, Collier, Charlotte, Manatee, Hillsborough, Sarasota, Lee, Indian River and Pinellas, BankUnited offers a full spectrum of consumer and commercial banking products and services, including online products that can be accessed through www.bankunited.com. For additional information, call (877) 779-2265.

Forward-Looking Statements

This news release may contain certain forward-looking statements, which are based on management's expectations regarding factors that may impact the company's earnings and performance in future periods. Words and phrases such as: "will," "will likely result," "expect," "will continue," "anticipate," "estimate," "project," "believe," "intend," "should," "would," "may," "can," "could," "plan," "target" and similar expressions are intended to identify "forward-looking statements." Actual results or performance could differ from those implied or contemplated by such statements. Factors that could cause future results and performance to vary materially from current management expectations include, but are not limited to, general business and economic conditions, either nationally or regionally; fiscal or monetary policies; significant weather events such as hurricanes; changes or fluctuations in the interest rate environment; a continuation of the deterioration in credit quality and/or a reduced demand for credit, including the resultant effect on our allowance for loan losses; reduced deposit flows and loan demand; real estate values; competition from other financial service companies in our markets; potential or actual litigation; legislative or regulatory changes, including, among others, changes in accounting standards, guidelines and policies; the issuance or redemption of additional company debt or equity; the concentration of operations in Florida, if Florida business or economic conditions continue to decline; reliance on other companies for products and services; the impact of war and the threat and impact of terrorism; volatility in the market price of the company's common stock; the company's inability to raise capital due to challenging market conditions; and other economic, competitive, servicing capacity, governmental, regulatory and technological factors affecting the company's operations, price, products and delivery of services. Please refer to the documents that BankUnited files periodically with the SEC, such as the Form 10-K for the 2007 fiscal year, and reports on Form 10-Q for the Dec. 31, 2007, and March 31, 2008 periods, which contain additional important factors, including "Risk Factors," that could cause actual results to differ from the company's current expectations and from the forward-looking statements contained in this press release.

Source: BankUnited Financial Corporation

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