BKF Capital Group Announces Resignation of Chief Financial Officer.

NEW YORK -- BKF Capital Group, Inc. (NYSE: BKF) announced today that Glenn A. Aigen has chosen to resign as Chief Financial Officer effective January 15, 2006. Mr. Aigen will continue to work for the Company through a transition period that will run through March 15, 2006 and will be available to provide consulting services through June 30, 2006.

John C. Siciliano, President and Chief Executive Officer of BKF, stated: "During his twelve years at the firm, Glenn has played an important role in its growth and development. At this stage of his career, Glenn has decided to take some time off to enjoy his family before embarking on his next challenge. We thank Glenn for his many contributions, his dedication and his friendship."

Mr. Siciliano added that his objective to have a new Chief Financial Officer in place by the end of January 2006.

BKF Capital Group, Inc. operates primarily through its subsidiary John A. Levin & Co., Inc., a New York-based investment management firm founded in 1982, which will be renamed BKF Asset Management, Inc., effective January 1, 2006. Clients include U.S. and foreign individuals, their related trusts and charitable organizations, college endowments, foundations, registered investment funds, and pension and profit-sharing plans.

This press release contains certain statements that are not historical facts, including, most importantly, information concerning possible or assumed future results of operations of BKF and statements preceded by, followed by or that include the words "may," "believes," "expects," "anticipates," or the negation thereof, or similar expressions, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). For those statements, BKF claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are based on BKF's current expectations and are susceptible to a number of risks, uncertainties and other factors, and BKF's actual results, performance and achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include the following: retention and ability of qualified personnel; the performance of the securities markets and of value stocks in particular; the investment performance of client accounts; the retention of significant client and/or distribution relationships; competition; the existence or absence of adverse publicity; changes in business strategy; quality of management; availability, terms and deployment of capital; business abilities and judgment of personnel; labor and employee benefit costs; changes in, or failure to comply with, government regulations; the costs and other effects of legal and administrative proceedings; and other risks and uncertainties referred to in this document and in BKF's other current and periodic filings with the Securities and Exchange Commission, all of which are difficult or impossible to predict accurately and many of which are beyond BKF's control. BKF will not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. In addition, it is BKF's policy generally not to make any specific projections as to future earnings, and BKF does not endorse any projections regarding future performance that may be made by third parties.