Paulson Capital Corp. Reports Results for Third Quarter 2009

PORTLAND, OR, Nov 12 (MARKET WIRE) --
Paulson Capital Corp. (NASDAQ: PLCC), parent company of Paulson
Investment Company, Inc., today reported a net profit for the nine months
ended September 30, 2009 of $844,895 (or $0.14 per share) versus a loss
of $13,306,841 (or ($2.23) per share) for the like period in 2008.
Revenues for the 2009 nine month period totaled $14,225,042 versus
negative revenues of $7,287,963 for 2008.

Chester L.F. Paulson, Chairman, stated:

"Corporate finance income for the nine month period included a follow-on
public offering for ICOP Digital along with a small bridge offering for a
biotech company. Although the market climate has improved over the past
several months, there are still many economic indicators which are
unsettled. We are taking measured steps in all aspects of the business and
continue to be conscious of expenses."

Paulson Capital Corp. is the parent company of Paulson Investment Company,
Inc. Located in Portland, Oregon, Paulson Investment Company is the
Northwest's largest independent brokerage firm and a national leader in
public offerings of small and emerging growth companies with capital needs
of $5 million to $45 million. Founded by Chet Paulson in 1970, it has
managed or underwritten more than 150 public offerings and has generated
more than $1 billion for client companies.

This release may contain "forward-looking statements" based on current
expectations but involving known and unknown risks and uncertainties.
Actual results of achievements may be materially different from those
expressed or implied. The Company's plan and objectives are based on
judgments with respect to future conditions in the securities markets as
well as general assumptions regarding the economy and competitive
environment in the securities industry, which can be volatile and out of
our control. In particular, we make assumptions about our ability to
complete corporate finance transactions and increase the volume and size
of our securities operations, which are difficult or impossible to predict
accurately and often beyond the control of the Company. Therefore, there
can be no assurance that any forward-looking statement will prove to be
accurate.

Contact:
Chester L.F. Paulson
503-243-6010

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