Centerline Holding Company Added to NYSE List Prohibiting Short Sale of Its Stock

NEW YORK--()--Centerline Holding Company (NYSE:CHC), (the Company), the parent company of Centerline Capital Group (Centerline), an alternative asset manager focused on real estate funds and financing, today announced that on Tuesday, September 23, 2008, the Company was added to the New York Stock Exchange (NYSE) list of financial firms that meet the Security Exchange Commission (SEC) order prohibiting short selling of their stock. The ban on short selling stock is a temporary action imposed by the SEC on September 18, 2008 and effective until the order terminates. The list, qualifying criteria and order termination date remain subject to amendment by the SEC.

To view a full list of NYSE-listed financial firms that are currently covered by the SEC order banning stock short selling, please go to: http://www.nyse.com/attachment/NYSE_SS_ORDERUPDATED.xls.

About Centerline Capital Group

Centerline Capital Group, a subsidiary of Centerline Holding Company (NYSE:CHC), is an alternative asset manager focused on real estate funds and financing. As of June 30, 2008, Centerline had more than $14 billion of assets under management. Centerline is headquartered in New York, New York and has nine offices throughout the United States. For more information, please visit Centerline's website at http://www.centerline.com or contact Centerline at 800-831-4826.

Certain statements in this document may constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are detailed in Centerline Holding Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, and include, among others, adverse changes in real estate markets, general economic and business conditions; adverse changes in credit markets and risks related to the form and structure of our financing arrangements; our ability to generate new income sources, raise capital for investment funds and maintain business relationships with providers and users of capital; changes in applicable laws and regulations; our tax treatment, the tax treatment of our subsidiaries and the tax treatment of our investments; competition with other companies; risk of loss from direct and indirect investments in commercial mortgage-backed securities and collateralized debt obligations; risk of loss under mortgage banking loss sharing agreements; and risks associated with providing credit intermediation. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements speak only as of the date of this document. Centerline Holding Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Centerline Holding Company's expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

Contacts

Centerline Capital Group, New York
Hande Tuney, Investor Relations, 800-831-4826
or
Elizabeth Haukaas, Corporate Communications,
212-521-6453/800-831-4826

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Contacts

Centerline Capital Group, New York
Hande Tuney, Investor Relations, 800-831-4826
or
Elizabeth Haukaas, Corporate Communications,
212-521-6453/800-831-4826