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NASDAQ ADIVSES BOCA RATON CAPITAL CORPORATION OF DE-LISTING OF COMMON STOCK ON NASDAQ SMALL-CAP

 BOCA RATON, Fla., Jan. 14 /PRNewswire/ -- Boca Raton Capital Corporation (OTC Bulletin Board: BOCA) announced that it has been advised by NASDAQ that its common stock, effective Jan. 14, 1993, will no longer be listed on the NASDAQ Small-Cap Market, although the common stock will continue to be listed in the OTC-Bulletin Board under the symbol "BOCA".
 NASDAQ has agreed to allow the company to re-list on the NASDAQ Small-Cap Market if it can demonstrate compliance with all current NASDAQ maintenance criteria by March 31, 1993. Gary O. Marino, president of the company, stated that "We are pursuing several courses of action, including seeking to raise additional equity capital, which, if successfully concluded, will allow the company to meet the re-listing criteria." In addition, the company noted that its financial position would be substantially enhanced by a favorable decision on appeal of the company's existing bonded judgment against the national accounting firm of Ernst & Young in the approximate amount of $3.5 million. A decision on the appeal is expected to be rendered during the first quarter of 1993. The company added that RailAmerica, Inc. (NASDAQ: RAIL), which represents the company's principal investment, completed its initial public offering in November 1992, and the company expects to include the recognition of income of approximately $1 million due to such transaction during the 1992 fourth quarter. Marino also added "While we are confident that the company's current business plan will enable us to qualify for re-listing, there can be no assurance that the company will be successful in such efforts, or will do so by March 31, 1993."
 The common stock was removed from NASDAQ listing due to failure to meet NASDAQ's capital and surplus requirements. The company stated the failure to meet the requirements was primarily due to the company's election last year to no longer be subject to the Investment Company Act of 1940, and the resulting change in the company's accounting methods from fair value accounting to historical cost accounting.
 -0- 1/14/93
 /CONTACT: Irwin J. Newman, Esq. of Boca Raton Capital Corporation, 407-394-3066; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for Boca Raton Capital Corporation/
 (BOCA RAIL)


CO: Boca Raton Capital Corporation ST: Florida IN: FIN SU:

JB-JJ -- FL008 -- 5027 01/14/93 16:13 EST
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Publication:PR Newswire
Date:Jan 14, 1993
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