Centerline Holding Company Declares Preferred Dividend for the Third Quarter of 2008

Fri Sep 19, 2008 4:01pm EDT

* Reuters is not responsible for the content in this press release.

NEW YORK--(Business Wire)--
The Board of Trustees of Centerline Holding Company (NYSE:CHC)
(the "Company"), the parent company of Centerline Capital Group
("Centerline"), has declared a dividend distribution of $0.3218 per
share for Centerline's 11.0% Cumulative Convertible Preferred Shares,
Series A-1 ("Preferred Shares") for the third quarter of 2008. The
Preferred Shares dividend will be payable on October 31, 2008, to
shareholders of record as of September 30, 2008.

   About the Company

   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 or contact the Investor Relations
Department directly 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.

Centerline Holding Company, New York
Hande Tuney, Investor Relations, 800-831-4826

Copyright Business Wire 2008