HOUSTON, Aug. 28 /PRNewswire/ -- Bank United Corp. (the "Company")
(Nasdaq: BNKU) announced today that the Board of Directors has authorized the
repurchase of up to $50  million in shares of the Company's common stock.  The
purchases will be made in the open market or in privately negotiated
transactions at prevailing prices.  The timing and volume of purchases under
the program will depend on market conditions.
    In light of the Company's current stock price level, the Board and
management believe that the repurchase of shares by the Company represents an
attractive use of cash.  The Board's decision to authorize the repurchase
confirms its confidence in the Company's future potential.
    Bank United Corp. is the largest publicly-traded depository institution
headquartered in Texas and through Bank United operates an 81-branch community
banking network in Texas, including 41 in the greater Houston area, 36 in the
Dallas/Fort Worth area and two each in Austin and San Antonio; a commercial
banking group with 21 regional offices in 18 states; 6 wholesale mortgage
origination offices; a mortgage servicing business; and a financial markets
business.

Link to this page: