Arcade Acquisition Corp. Announces Form 15 Filing

NEW YORK, NY, Mar 30 (MARKET WIRE) --
Arcade Acquisition Corp. (OTCBB: ACDQU) (OTCBB: ACDQ) (OTCBB: ACDQW)
announced today that it intends to file a Form 15 with the SEC to
voluntarily suspend its reporting obligations under the provisions of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"). As a
result of filing the Form 15, the company will no longer be required to
file reports under the Exchange Act, including quarterly reports on Form
10-Q, annual reports on Form 10-K, and current reports on Form 8-K. In
addition, the provisions of the Sarbanes-Oxley Act of 2002 will no longer
apply to the company.

Arcade's Board of Directors has determined that it is highly unlikely that
it will be able to effect a business combination prior to the May 21, 2009
deadline provided in its charter and has made the decision to deregister
as a cost-saving measure pending the company's liquidation at such time.

As of February 28, 2009, the latest date for which financial information
is available, there was approximately $68,048,000, or approximately $7.89
per share, being held in Arcade's trust account. Management does not
expect that there will be a material amount of cash remaining outside of
the trust account following anticipated expenditures for operations and
liquidation.

Following the filing, the Company's common stock, units and warrants will
trade on the Pink OTC Markets (www.pinksheets.com) quotations system.

About Arcade Acquisition Corp.

Arcade Acquisition Corp. (OTCBB: ACDQU) (OTCBB: ACDQ) (OTCBB: ACDQW) is a
blank check company formed for the purpose of acquiring through a merger,
stock exchange, asset acquisition or other similar business combination,
an unidentified operating business. Arcade completed its initial public
offering of 8.625 million units at $8.00 per unit on May 22, 2007,
generating gross proceeds of approximately $69 million dollars. Arcade's
charter provides for its automatic dissolution if a business combination
has not been consummated prior to May 21, 2009. Arcade's public filings
are available at www.sec.gov.

Forward-Looking Statement

This press release contains forward-looking statements (as defined in
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Exchange Act ) about Arcade. Forward-looking statements are statements
that are not historical facts. Such forward-looking statements, based upon
the current beliefs and expectations of Arcade's management, are subject
to risks and uncertainties, which could cause actual results to differ
from the forward-looking statements. The following factors, among others,
could cause actual results to differ from those set forth in the
forward-looking statements: future operating or financial results; the
availability of cash to pay dividends, the ability to meet debt
obligations or obtain additional financing to fund operations and/or
acquisitions; general market conditions; changes in governmental rules
and regulations or actions taken by regulatory authorities; unanticipated
changes in laws and regulations; changing interpretations of generally
accepted accounting principles; and general economic conditions, as well
as other relevant risks detailed in Arcades' filings with the Securities
and Exchange Commission. The information set forth herein should be read
in light of such risks.

For Further Information please contact:

Arcade Acquisition Corp.
John Chapman
Executive Officer
Tel: (860) 236-6320
E-mail: jchapman@arcadepartners.com

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