Centerline Holding Company Declares Common Dividend Per Share for the Fourth Quarter of 2007.

NEW YORK -- The Board of Trustees of Centerline Holding Company (NYSE:CHC) (the "Company"), the parent company of Centerline Capital Group ("Centerline"), has declared a dividend of $0.42 per common share for the fourth quarter of 2007, payable on February 14, 2008, to common shareholders of record as of December 31, 2007.

The Company's present quarterly common share dividend on an annualized basis is $1.68 per share, representing an approximate 15.7% dividend yield on the $10.71 per common share closing price on December 12, 2007.

About the Company

Centerline Capital Group, a subsidiary of Centerline Holding Company (NYSE:CHC), is a diversified real estate fund manager with over $18 billion of assets under management. Centerline lends, invests and manages capital for the commercial real estate and affordable housing industries. Centerline is headquartered in New York City and has over 500 employees in nine offices throughout the United States. www.centerline.com.

Certain statements in this document may constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are detailed in Centerline Holding Company's most recent Annual Report on Form 10-K and in its other filings with the Securities and Exchange Commission, and include, among others, adverse changes in real estate markets; competition with other companies; interest rate fluctuations; general economic and business conditions; environmental/safety requirements; changes in applicable laws and regulations; our tax treatment, the tax treatment of our subsidiaries and the tax treatment of our investments; risk of default associated with the mortgage revenue bonds and other securities held by us or our subsidiaries; risks associated with providing credit intermediation; risk of loss under mortgage loan loss sharing agreements; risk of loss from direct and indirect investments in CMBS; the risk that relationships with key investors and developers may not continue; our ability to generate fee income may not continue; and risks related to the form and structure of our financing arrangements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements speak only as of the date of this document. Centerline Holding Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Centerline Holding Company's expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.