DCAP Group Advised That Nasdaq Has Extended Minimum Bid Price Rule Compliance Period

  
    
  
  
    
      DCAP Group, Inc. (NASDAQ: DCAP), the largest chain of independent 
      storefront insurance agencies in the Northeast, today announced that it 
      has been advised by The Nasdaq Stock Market that Nasdaq Marketplace Rule 
      4310(c)(4), which requires companies to maintain a minimum bid price of 
      $1.00 per share, has been temporarily suspended. Based on this action, 
      the Company now has until July 3, 2009 to achieve compliance with Rule 
      4310(c)(4).
    
    
      On October 1, 2008, the Company received a deficiency notice from The 
      Nasdaq Stock Market notifying the Company that it is not in compliance 
      with Rule 4310(c)(4) because the Company's common stock closed below the 
      minimum bid price of $1.00 per share for the preceding 30 consecutive 
      business days. As a result, the Company had been provided with an 
      initial period of 180 calendar days, or until March 30, 2009, to regain 
      compliance with the minimum $1.00 share bid price requirement.
    
    
      On October 16, 2008, Nasdaq implemented a temporary suspension of 
      enforcement of Rule 4310(c)(4) until Friday, January 16, 2009, due to 
      the volatility of current market conditions. As a result, the remainder 
      of the Company’s initial compliance period of 
      180 calendar days has been tolled until Monday, January 19, 2009 and the 
      Company’s initial compliance date to comply 
      with Rule 4310(c)(4) has been extended from March 30, 2009 to July 3, 
      2009. If at any time before July 3, 2009, the bid price of the Company's 
      common stock closes at $1.00 per share or more for a minimum of 10 
      consecutive business days, Nasdaq is to notify the Company that it has 
      achieved compliance with Rule 4310(c)(4). If the Company cannot 
      demonstrate compliance with Rule 4310(c)(4) during the initial 
      compliance period, the Nasdaq staff will determine whether the Company 
      meets The Nasdaq Capital Market initial listing criteria as set forth in 
      Nasdaq Marketplace Rule 4310(c), except for the bid price requirement. 
      If the Company meets the initial listing criteria, the Nasdaq staff will 
      notify the Company that it has been granted an additional 180 calendar 
      day compliance period. The additional 180 day compliance period would 
      commence on July 4, 2009.
    
    
      About DCAP Group
    
    
      DCAP Group, Inc. owns and operates the largest chain of independent 
      storefront insurance agencies in the Northeast. Through DCAP Insurance, 
      Barry Scott Insurance, Atlantic Insurance Agency and Accurate Agency, 
      DCAP Group provides automobile insurance (and to a lesser extent, 
      motorcycle and homeowners), enhanced by complimentary premium financing 
      capabilities, to retail customers in New York and Pennsylvania. Other 
      products include automobile club service for roadside emergencies and 
      income tax preparation services. As of October 17, 2008, there were 64 
      owned or franchised storefront locations.
    
    
      Forward Looking Statements
    
    
      Statements in this press release may contain “forward-looking 
      statements” within the meaning of the Private 
      Securities Litigation Reform Act of 1995. All statements, other than 
      statements of historical facts, may be forward-looking statements. These 
      statements are based on management’s current 
      expectations and are subject to uncertainty and changes in 
      circumstances. These statements involve risks and uncertainties that 
      could cause actual results to differ materially from those included in 
      forward-looking statements due to a variety of factors. More information 
      about these factors can be found in DCAP’s 
      latest Annual Report filed with Securities and Exchange Commission under 
      Form 10-KSB. The company undertakes no obligation to publicly update or 
      revise any forward-looking statements, whether as a result of new 
      information, future events or otherwise.