Arcade Acquisition Corp. Announces Plan of Liquidation

NEW YORK, NY, May 18 (MARKET WIRE) --
Arcade Acquisition Corp. (PINKSHEETS: ACDQU) (PINKSHEETS: ACDQ)
(PINKSHEETS: ACDQW) announced today that it has delivered a Termination
Letter to Continental Stock Transfer & Trust Company, its Trustee, in
which it has informed Continental that it will not complete a business
combination within the time frame specified in the Company's Certificate
of Incorporation. The letter instructs Continental to commence
liquidation of the Trust Account as promptly as practicable.

Continental has also been appointed as Arcade's Paying Agent, and in such
capacity has been instructed to distribute the proceeds as promptly after
May 21, 2009 as practicable to the stockholders of record on such date.
Upon the payment of all the funds in the Trust Account, the Trust
Agreement shall terminate in accordance with the terms thereof and the
Trust Account shall be closed.

As of April 30, 2009, the latest date for which financial information is
available, there was approximately $68,118,000, or approximately $7.90 per
share, being held in the Trust Account. Management believes that there may
be additional funds received from the refund of Federal and state taxes,
and such additional funds, if any, net of associated costs, will be
distributed to shareholders entitled to receive proceeds of the Trust
Account as of the record date, when such funds are determined not to be
subject to future audit.

About Arcade Acquisition Corp.

Arcade Acquisition Corp. (PINKSHEETS: ACDQU) (PINKSHEETS: ACDQ)
(PINKSHEETS: 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's
charter provides for its automatic dissolution if a business combination
has not been consummated prior to May 21, 2009.

For Further Information please contact:

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

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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