National Holdings Corporation Announces Departure of Mark Goldwasser

NEW YORK–(BUSINESS WIRE)–National Holdings Corporation (NASDAQ:NHLD) (“National Holdings”
or the “Company”), a full-service investment banking and asset
management firm, today announced that Mark Goldwasser, President of
National Holdings Corporation, has informed the Board that he does not
intend to the accept the extension of his contract on its present terms
that he was offered by the Board and consequently will be leaving the
Company as of June 30, 2016.

Mr. Goldwasser joined National Holdings in June 2000 and has served in
various senior management roles at the Company and its subsidiaries
since that time.

“Goldie has been a valuable member of the Company’s leadership over the
course of his tenure here and we certainly wish him well in his future
endeavors,” said Robert Fagenson, Executive Chairman and Chief Executive
Officer of National Holdings Corporation. “Various members of our team,
together with myself, will be assuming Goldie’s titles and
responsibilities on an interim basis while we make well considered
decisions on which members of our deep management bench will fill these
roles going forward for the longer term.”

“After careful thought and consideration, I have concluded that it is
time for me to leave National after 14 years, so Thursday, June 30, 2016
will be my last day at the company,” said Mr. Goldwasser. “National has
grown incredibly over the past 14 years and I feel good about having
played a role in that success. I wish Fortress and their team the best
and hope that National goes from strength to strength. I will be
available to assist in the transition. Above all, I want to thank the
countless people that worked with me all these years and all the friends
I have made at the company.”

About National Holdings Corporation

National Holdings Corporation is a full-service investment banking and
asset management firm that provides a range of services, including
independent retail brokerage and advisory services, investment banking,
institutional sales and trading and equity research, financial planning,
market making, tax preparation, insurance and annuities, to
corporations, institutional investors and high net-worth clients. With
over 1,100 independent advisors, registered reps, traders and sales
associates, the Company is a leading Independent Advisor and Broker
services company. National operates through five subsidiaries: National
Securities Corporation, vFinance Investments, Inc., National Insurance
Corporation, National Asset Management, Inc. and Gilman Ciocia, Inc. The
Company’s National Securities subsidiary was founded in 1947. National
was organized in 1999 and is headquartered in New York and Florida. For
more information, visit www.nhldcorp.com.

FORWARD-LOOKING STATEMENTS

This press release may contain certain forward-looking statements. Any
such statements, other than statements of historical fact, are based on
management’s current expectations, estimates, projections, beliefs and
assumptions about the Company, its current and prospective portfolio
investments, and its industry. These statements are not guarantees of
future performance and are subject to risks, uncertainties and other
factors, some of which are beyond the Company’s control, difficult to
predict and could cause actual results to differ materially from those
expected or forecasted in such forward-looking statements. Actual
developments and results are likely to vary materially from these
estimates and projections as a result of a number of factors, including
those described from time to time in National’s filings with the
Securities and Exchange Commission. Such statements speak only as of the
time when made, and National undertakes no obligation to update any such
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.

Contacts

National Holdings Corporation
Robert Fagenson, +1-212-417-8210
Executive
Chairman & Chief Executive Officer
or
LHA
Ed
McGregor/Jody Burfening, +1-212-838-3777
emcgregor@lhai.com