Ameritrans Capital Corp. Declares Dividend on 9 3/8% Cumulative Preferred Stock & Appoints Officers of Ameritrans & Elk Assoc...

On July 21, 2010, the Board of Directors of Ameritrans Capital Corporation (NASDAQ: AMTC, AMTCP) (“Ameritrans”) declared a dividend of $0.28125 per share on its 9 3/8% Cumulative Participating Redeemable Preferred Stock (“Preferred Stock”) for the quarterly period commencing April 1, 2010 and ending June 30, 2010. The dividend is payable to holders of Preferred Stock of record as of August 2, 2010 and will be paid as soon as practicable thereafter.

Also on July 21, 2010, at a joint meeting of the Board of Directors of Ameritrans and its wholly-owned subsidiary, Elk Associates Funding Corporation (“Elk”), certain offices held by officers of Ameritrans and Elk were reconstituted so that officers would generally hold identical offices in both Ameritrans and Elk. Below is a list of the offices held by each officer in Ameritrans and Elk following such action.

Name

Office of Ameritrans and Elk

        
      
      
        
        
        
        
        
        
        
          Michael Feinsod
        
        
        
        
          Chief Executive Officer, President,
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          Interim Chief Financial Officer, Chief
        
      
      
        
        
        
        
        
        
        
        
        
        
        
          Compliance Officer and Treasurer;
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
          Gary Granoff
        
        
        
        
          Chairman, Managing Director
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
          Silvia M. Mullens
        
        
        
        
          Executive Vice President and Secretary
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
          Ellen Walker
        
        
        
        
          Executive Vice President
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
          Lee Forlenza
        
        
        
        
          Senior Vice President; and
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
        
        
        
        
        
        
          Margaret Chance
        
        
        
        
          Vice President.
        
      
      
        
        
        
        
        
        
        
        
        
        
        
           
        
      
    
    

About Ameritrans

Ameritrans Capital Corporation is an internally managed, closed-end investment company that has elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended. Ameritrans originates, structures and manages a portfolio of secured business loans and selected equity securities. Ameritrans' wholly owned subsidiary Elk Associates Funding Corporation was licensed by the United States Small Business Administration as a Small Business Investment Company (SBIC) in 1980.

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those presently anticipated or projected. Ameritrans Capital Corporation cautions investors not to place undue reliance on forward-looking statements, which speak only as to management's expectations on this date.