Clean Energy Capital and National Securities Corporation Announce Strategic Affiliation.

Firm to Provide Investment Banking and Financial Advisory Services to Companies Active in Renewable Energy Project Finance

NEW YORK -- Clean Energy Capital Advisors LLC and National Securities Corporation, a subsidiary of National Holdings Corporation (OTCBB:NHLD), a full service investment banking holding company, announced today they have entered into a strategic affiliation to provide investment banking and financial advisory services to companies operating in the renewable power and clean technology infrastructure sectors.

David M. Moore, founder of Clean Energy Capital and twenty-five year banking veteran, said, "Our business is providing financial services to companies active in renewable energy and clean technology infrastructure. National's broad and excellent resources allow us to offer expanded services, such as securities issuance and M&A advisory, to our growing client base. Our affiliation lets us leverage National's infrastructure and capabilities to accelerate our vision."

Under the terms of the affiliation, the principals of Clean Energy Capital will become registered representatives of National Securities, a registered broker-dealer and member, FINRA & SIPC. Clients of Clean Energy Capital will receive investment banking services and securities placement through National Securities.

"Clean Energy Capital is dedicated to renewable energy project finance, and brings capabilities and experience to the sector," said Leonard Sokolow, President of National Holdings Corp. "We consider project finance to be an important growth opportunity in cleantech finance and are pleased that Clean Energy Capital has chosen National Securities for this important affiliation."

About Clean Energy Capital:

The principals of Clean Energy Capital provide investment banking and financial advisory services to companies operating in the renewable power and clean technology infrastructure sectors. Their core focus is project financing of renewable energy infrastructure investment. They combine broad knowledge of the US electric utility sector with specialization in structured finance, tax credits, and debt and equity private placements. With offices in the San Francisco Bay Area and Atlanta, they help companies raise expansion capital and project financing in order to bring renewable power plants into commercial operation. They also advise utilities, project developers, and investors on the complex issues of project finance. For more information please visit www.cleanenergycap.com.

About National Holdings Corporation

National Holdings Corporation is a holding company for National Securities Corporation, vFinance Investments, Inc., EquityStation, Inc., National Asset Management, Inc., and National Insurance Corporation. National Securities, vFinance and EquityStation are broker-dealers registered with the SEC, and members of FINRA and SIPC. vFinance is also a member of the NFA. The three principal lines of business of the broker-dealers are offering full service retail brokerage; providing investment banking, merger, acquisition and advisory services to micro, small and mid-cap high growth companies; and trading securities, including making markets in over 4,000 micro and small-cap stock, distributing direct market access platforms, and providing liquidity in the United States Treasury marketplace. National Asset Management is a federally-registered investment advisor. For more information, please visit our websites at www.nationalsecurities.com and www.vfinance.com.

Safe Harbor Statements

This release contains forward-looking statements within the meaning of the federal securities laws. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements relate to future events and/or future financial performance, and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Please refer to the documents National Holdings files, from time to time, with the Securities and Exchange Commission, including, but not limited to, the Company's most recent Form 10-K and Form 10-Q, as amended, and the cautionary statements contained therein. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in or implied by these forward-looking statements. These risk factors included, without limitation, (i) our ability to increase revenues, achieve profitability or obtain additional financing, (ii) changes in general economic and business conditions (including in the securities industry), (iii) actions of our competitors, (iv) market fluctuations and volatility, (v) the extent to which we are able to develop and enhance new services and markets for our services, (vi) the time and expense involved in such development activities, (vii) risks in connection with acquisitions, (viii) the level of demand and market acceptance of our services, and (ix) changes in our business strategies. The words "may," "will," "believe," "estimate," "expect," "plan," "intend," "project," "anticipate," "could," "would," "should," "seek," "continue," "pursue" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. National undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and, therefore, readers should not place undue reliance on these forward-looking statements.