$Stock*Shop*Charts*News*Option$

[kidstockster101]

VFIN (.169) National Securities Corporation, Subsidiary of National Holdings Corporation, Reports Significant Growth in Brokers and Customer Assets
Thursday, June 05 2008 1:02 PM, EST

Business Wire    "US Press Releases "
NEW YORK --(BUSINESS WIRE)--
National Holdings Corporation , a financial services company operating through its wholly-owned subsidiaries (OTCBB:NHLD), reported significant growth in brokers and customer assets.
During the past 60 days, National Securities Corporation has successfully recruited and hired approximately 50 brokers with approximately $600 million in customer assets and trailing 12 month revenues in excess of $12 million .
"This is an extraordinary time for the growth of National's brokerage operations. We have built an attractive platform and expect to continue our record growth," stated Mark Goldwasser, President and Chief Executive Officer. "When our proposed merger with vFinance closes the combined companies will have over 750 registered representatives making us one of the largest independent contractor based brokerage firms in the U.S., with a significant presence in New York City ," added Mr. Goldwasser.
As previously announced, National Holdings and vFinance, Inc. (OTCBB: VFIN) have received the necessary regulatory approvals to proceed with their proposed merger. Both companies have scheduled shareholder meetings in June, and the merger is anticipated to become effective as of the close of business on June 30, 2008 . However, no assurance can be given that the merger will be consummated.
National Holdings Corporation is a holding company for National Securities Corporation , National Asset Management, Inc. , National Insurance Corporation , National Holdings Mortgage Corporation , National Group Benefits Corporation and National Securities Futures Corporation . National Securities conducts a full service national brokerage and investment banking business. National Asset Management is a federally-registered investment adviser. National Insurance provides a full array of fixed insurance products to its clients. The Company's other subsidiaries are currently inactive.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to the Company's estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, risks and uncertainties detailed in the Company's Securities and Exchange Commission filings, including the company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
National Holdings has filed a Registration Statement on Form S-4, and a related joint proxy statement/prospectus, in connection with the proposed merger with vFinance, Inc. Investors and security holders are urged to read the Registration Statement on Form S-4 and the related joint proxy statement/prospectus because they contain important information about the merger transaction. Investors and security holders may obtain free copies of these documents (when they are available) and other documents filed with the SEC at the SEC's web site at http://www.sec.gov. In addition, investors and security holders may obtain free copies of the joint proxy statement/prospectus filed with the SEC by contacting National Holdings Investor Relations at the email address: [e-mail] or vFinance Investor Relations at the email address: [e-mail].
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
National Holdings , vFinance and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of National Holdings in connection with the merger transaction. Information regarding the special interests of these directors and executive officers in the merger transaction is included in the joint proxy statement/prospectus described above.
Source: National Holdings Corporation