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Rodman & Renshaw Capital Group, Inc. And Hudson Holding Corporation Announce Strategic Merger

Anthony Sanfilippo, chief executive officer of Hudson added, “I am very excited by the proposed transaction and joining Rodman’s leadership team. Bringing Hudson’s notable sales and trading platform and industry experience to the Rodman business platform will enhance the scope of products and services we can offer to our combined client base. Both Rodman and Hudson serve as liquidity providers for small-cap companies and the combination will facilitate our ability to bring complimentary products and services to our clients. We could not have sought a better partner in terms of corresponding skills, culture and future vision and we look forward to creating the leading investment bank for growth companies.”

New Century Capital Partners, Inc. is serving as the exclusive financial advisor to Hudson and has provided a fairness opinion to Hudson’s board of directors.

Conference Call Information

In conjunction with today’s announcement, Rodman and Hudson senior management will host a conference call at 11:00 am Eastern Standard Time today, hosted by Mr. Edward Rubin, Chief Executive Officer of Rodman and Mr. Anthony Sanfilippo, Chief Executive Officer of Hudson. Investors and analysts can participate in the conference call by dialing 1-877-407-8033 (United States) or 1-201-689-8033 (International).

The conference will be replayed in its entirety beginning at approximately 3:00 pm Eastern Standard Time on January 5, 2011, through to 11:59 pm Eastern Standard Time on January 12, 2011. If you wish to listen to the replay of this conference call, please dial 1-877-660-6853 (United States) or 1-201-612-7415 (International) and use Account #286, Conference # 364438.

The conference call will also be simultaneously broadcast live over the Internet, as well as for replay, and can be accessed through the webcasts and presentations tab of the investor relations section of the Rodman & Renshaw Capital Group, Inc. website located at www.rodm.com or on the Hudson Holding Corporation website located at www.hudsonholdingcorp.com. Please allow for some time following the completion of the conference call to access the archive of the Webcast. Allow for time prior to the conference call Webcast to visit the web site and download the streaming media software required to listen to the Internet broadcast.

About Rodman & Renshaw Capital Group, Inc.

Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.

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