Humboldt reports financial results for the six months ended June 30, 2008

CALGARY, Aug. 27 /PRNewswire-FirstCall/ - Humboldt Capital Corporation (TSX-V:
HMB) announces that effective June 30, 2008, the Corporation reported a net
asset value of $4.78 per share compared with $4.42 per share at December 31,
2007.
As a result of the economic and financial deterioration prevailing in the
United States, and a significant negative outlook for the US economy, the
management of Humboldt continued to liquidate a large portion of its energy
and mining portfolio through the second quarter of 2008. Humboldt viewed the
recent spike in oil prices as a "blow off top" in the energy bubble, and
similarly viewed the high prices of many base metals as unsustainable.
Hence, by the end of the second quarter of 2008 Humboldt's working capital had
increased to $19.2 million or 32% of its asset value. During the second
quarter, Humboldt's net asset value increased by 10% to $4.78 per share
compared with $4.37 per share at the beginning of the quarter and $5.38 per
share a year earlier at June 30, 2007.
In increasing its liquidity, Humboldt realized $16.5 million on the sale of
equities and invested $5.8 million during the first half of 2008. The company
realized a gain of $6.8 million on the sales.

Six Months Ended June 30
(Thousands, except per -------------------------------------
share amounts) 2008 2007 2006
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Earnings (loss) $ 4,506 $ (1,319) $ (8,812)
Earnings (loss) per share, diluted $ 0.37 $ (0.11) $ (0.70)

Share capital $ 2,065 $ 2,080 $ 1,976
Retained earnings $ 57,518 $ 66,465 $ 70,988
Shareholders' equity $ 60,886 $ 69,543 $ 73,281

Cash and term deposits $ 19,009 $ 10,330 $ 780

Shares outstanding 12,305 12,384 12,377
Net asset value per share, diluted $ 4.78 $ 5.38 $ 5.80
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SEDAR Filings

Further information regarding financial and operating results may be obtained
at www.sedar.com, where the Company's MD&A and financial statements have been
filed.

Forward-looking statements - the press release today contains
"forward-looking" information. Actual results could differ materially from the
conclusions, forecasts or projections in the forward-looking information.
Certain material factors and assumptions were applied in drawing the
conclusions or making the forecasts or projections as reflected in the
forward-looking information. Additional information about the material factors
that could cause actual results to differ materially from the conclusion,
forecast or projection in the forward-looking information and the material
factors or assumptions that were applied in drawing the conclusion or making
the forecast or projection as reflected in the forward-looking information is
contained in the press release.

Investment Valuation - Humboldt records its investments on its balance sheet
on the basis of their quoted market value; as of the balance sheet date for
listed securities. Unlisted securities are recorded at the Company's estimate
of their fair value. Humboldt reports unrealized gains or losses on shares
based on the Company's estimate of the value of the shares held at the end of
the period. The estimates are based on a quoted market price at the date of
the report. By their nature, quoted market prices change daily and the content
of the portfolio changes from time to time. Companies in which Humboldt holds
shares have varying degrees of liquidity and there is no assurance that the
investments can be sold at the quoted market price. Markets on which the
shares held by the Company trade may experience significant fluctuations on
the valuation date and therefore the market value of the holdings may change
significantly after the valuation date.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Humboldt Capital Corporation

R.W. Lamond, Chairman of the Board - or - C.A. (Tony) Teare, Executive Vice
President, HUMBOLDT CAPITAL CORPORATION, Telephone: (403) 269-9889, Fax: (403)
269-9890, TSX-V: HMB