EXHIBIT 99.1

                     BANKUNITED ANNOUNCES OFFICER PROMOTIONS


         Coral Gables, FL - BankUnited Financial Corporation, the parent company
of BankUnited, FSB today announced a number of promotions for the senior staff
of the company. The decision was made to reward the superior efforts of the new
management team recruited over the past two years in recognition of their fine
efforts.

[_]      Janette Davis was promoted to Senior Executive Vice President, and
         Consumer Banking Executive. Ms. Davis will continue to be responsible
         for the development, sales and servicing of all consumer products
         through the consumer division which includes private banking, retail
         banking, marketing, bank operations, and sales of investment services
         through BUFC Investment Services, Inc.

[_]      Vincent Post was promoted to Senior Executive Vice President,
         Commercial Banking Executive. Mr. Post will continue to be responsible
         for commercial real estate, corporate, international, small business
         banking and cash management.

[_]      Bert Lopez was promoted to Senior Executive Vice President, Finance,
         and continues as Chief Financial Officer. In addition to the financial
         accounting and treasury areas, Mr. Lopez will also oversee the
         information technology area.

[_]      Michael Clutter was promoted to Senior Executive Vice President, Risk
         Management. Mr. Clutter's responsibilities include risk management,
         credit policy, special assets, residential mortgage and commercial
         credit underwriting and regulatory reporting.

[_]      Lisa Barrera was promoted to Senior Executive Vice President,
         Residential Lending Executive. She will continue managing the wholesale
         and retail residential real estate lending teams.

[_]      Iliana Castillo-Frick was promoted to Senior Executive Vice President,
         Human Resources Director. She will continue managing the Human
         Resources Department as well as the Corporate Services areas of the
         bank.

     In addition, Mehdi Ghomeshi the company's President was elevated to the
position of Executive Vice Chairman. Mr. Ghomeshi requested this position
because he would prefer to focus upon planning and strategic direction as
opposed to the day-to-day operations of the company.

     Alfred Camner, Chairman of the Board and Chief Executive Office will assume
the additional duties of President and Chief Operating Officer. Under its new
structure, BankUnited will be increasing the line responsibilities of each of
its new officers providing them with greater day-to-day operating responsibility
within their sectors.

     BankUnited, FSB is the principal subsidiary of BankUnited Financial
Corporation and is the largest financial institution headquartered in Florida.
It operates 35 banking offices throughout Miami-Dade, Broward, Palm Beach and
Collier counties. BankUnited can additionally be accessed on the Internet at:
www.buexpresss.com

      BankUnited Financial Corporation is traded on the NASDAQ national Market.
Its common stock trades under the symbol BKUNA. BankUnited Capital II Trust
Preferred securities trade on NASDAQ under the symbol BKUNZ. BankUnited Capital
III Trust Preferred securities trade on the New York Stock Exchange under the
symbol BUFprC.