Eastern Light Capital Receives Notice of Non-Compliance From NYSE Amex; Intends to Request Hearing

Eastern Light Capital, Inc. ELC, a specialty lender organized as a real estate investment trust, announced today that the Company has been notified by the Compliance Staff of the NYSE Amex LLC that the Company has not timely regained compliance with Section 1003 of the Exchange's Company Guide due to stockholders' equity of less than $6,000,000. As a result, the notice indicated that the Company's securities are subject to delisting from the Exchange unless the Company requests a hearing before the Exchange's Listing Qualifications Panel. As disclosed on July 30, 2010, the Staff previously granted the Company's request for an extension to evidence compliance with the Exchange's stockholders' equity requirement, through November 7, 2011.