Michigan Heritage Bancorp, Inc.(fka MHBC)

[PennyPincher]

BLOOMFIELD HILLS, Mich., Sept. 8 /PRNewswire-FirstCall/ -- Michigan Heritage Bancorp, Inc. (OTC:MHBC) (BULLETIN BOARD: MHBC) today announced that it has called a special meeting of shareholders to be held on September 14, 2009 at 2:00 p.m. local time at the offices of Dykema Gossett PLLC, legal counsel for Michigan Heritage Bancorp, or the Company, located at 39577 Woodward Avenue, Suite 300, Bloomfield Hills, Michigan, for shareholders of record on August 7, 2009. The purpose of this meeting is to seek approval of a proposal to dissolve Michigan Heritage Bancorp in accordance with relevant law and pursuant to a plan of dissolution.

In April 2009, Michigan Heritage Bank, the sole subsidiary of the Company was closed by the Michigan Office of Financial and Insurance Regulation and the Federal Deposit Insurance Corporation was named as receiver. As a result, the board of directors of the Company has determined that it is in the best interest of the shareholders to dissolve the Company and liquidate its remaining assets.

The Company has delivered to its shareholders a proxy statement in connection with the solicitation of proxies by the board of directors for the special meeting of shareholders to which this communication relates. The proxy statement contains important information that shareholders should read before making any voting decision including a copy of the plan of dissolution. The proxy statement and proxy may be obtained for free by contacting Dykema Gossett at [phone].

As described in the Company's proxy statement, approval of the proposal requires the affirmative vote of a majority of the outstanding shares of the Company's common stock. The Company's board of directors requests that all shareholders review the proxy statement and the Plan of Dissolution, vote on the proposal and return the proxy as instructed in the proxy statement.

DATASOURCE: Marcotte Financial Relations


CONTACT: Brendan J. Cahill, Corporate Counsel, [phone],