BALTIMORE, MD -- (Marketwire) -- 09/20/08 -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of the common stock of BankUnited Financial Corporation ("BankUnited" or the "Company") (NASDAQ: BKUNA) during the period between April 18, 2006 and June 18, 2008, inclusive (the "Class Period"). The complaint charges BankUnited and certain of its officers and directors with violations under the Securities Exchange Act of 1934.

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 17, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through hoffman@browerpiven.com or 410/332-0030) to answer any questions you may have in that regard.

BankUnited is the holding company for BankUnited, FSB, which provides consumer and commercial banking products and services to consumers and businesses located primarily in Florida. The complaint alleges that during the Class Period, defendants made false and misleading statements including misrepresenting the losses the Company was likely to suffer due to BankUnited's poor underwriting standards and loan practices (particularly for adjustable rate mortgages) that included BankUnited's questionable appraisal processes and allowing borrowers to secure "piggy-back" loans to fund a down payments. When the truth began to emerge, the value of BankUnited's stock declined.

If you have suffered a net loss for all transactions in BankUnited Financial Corporation common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-332-0030, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.