HOUSTON, June 29 /PRNewswire/ -- Bank United (NYSE: BKU PrA and BKU PrB),
a subsidiary of Bank United Corp. (Nasdaq: BNKU), today announced that it has
joined with Salomon Smith Barney to securitize commercial real estate loans
originated by Bank United and other sources.
    "Salomon Smith Barney's expertise in pricing, structuring, and
distribution combined with Bank United's securitization experience and ability
to originate large volumes of quality commercial real estate loans, should
make this team an important player in the real estate finance and commercial
mortgage-backed securities market," said Bank United Vice Chairman Anthony J.
Nocella.
    Commercial mortgage-backed securitization is a fast growing area of the
securities market that allows banks to improve their liquidity and to offer
competitive rates, giving commercial real estate borrowers access to the
capital markets.
    "Our alliance with Salomon Smith Barney is structured in a way that will
allow us to maintain the personal service level to our customers that is a
hallmark of our business at Bank United," said Nocella.
    Mortgage-backed securities were built into a Wall Street powerhouse
business in the 1980s by Lewis Ranieri, then Vice Chairman of Salomon
Brothers, now Chairman of Bank United Corp., Bank United's parent company.
    Bank United Corp., headquartered in Houston, is the largest publicly
traded depository institution headquartered in Texas, with $13.1 billion in
assets and $653 million in stockholders' equity.  Bank United, a federally
chartered savings bank, operates a community banking network of 80 branches in
Texas, including 41 located in the greater Houston area, 35 located in the
Dallas/Ft. Worth Metroplex, and two each in Austin and San Antonio; a
commercial banking group with 21 regional offices in 18 states; 6 wholesale
origination offices; a mortgage servicing business; and a financial markets
business.  Bank United is FDIC insured and an equal housing lender.

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