David M. Hudson to Join BKF Asset Management; Addition to Firm's Alternative Investment Business

Business Wire, April 24, 2006

NEW YORK -- BKF Capital Group, Inc. (NYSE: BKF) today announced that David M. Hudson has joined BKF Asset Management, Inc. Mr. Hudson is a pragmatic and activist investor who currently manages a concentrated portfolio focused on neglected and under-valued micro, small, and mid-cap equities. He invests with the mentality of a private equity investor, as he seeks to hold or manage investments until value is realized through market forces or a liquidity event.

John C. Siciliano, President and Chief Executive Officer, stated: "We are pleased to welcome David Hudson to BKF as part of our commitment to offer new alternative investment strategies to our clients. During his 25-year career, Dave has built and managed a number of successful investment management businesses through which he has developed valuable relationships in the investment community. Adding a professional with his level of experience is an important development as we seek to build a diversified investment business."

Prior to launching his most recent investment effort, Gemini Value Partners LLC, Mr. Hudson was the co-founder of Coldstream Holdings, Inc., which was sold in a transaction involving Boston Private Financial Holdings, Inc. Mr. Hudson has also founded and managed other registered investment advisory firms, including a group of seven mutual funds. He received his BS in mathematics from the University of Oregon where he also studied economics at the graduate level.

BKF Capital Group operates primarily through its subsidiary BKF Asset Management, Inc., a New York-based investment management firm. Clients include endowments, foundations, pension and profit-sharing plans, registered investment funds and other financial intermediaries.

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 which 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.