Ameritrans Capital Corporation Declares Quarterly Dividend on 9 3/8% Preferred Stock

  
    
  
  
    
      The board of directors of Ameritrans Capital Corporation (NASDAQ: AMTC, 
      AMTCP) has declared a dividend of $0.28125 per share on its 93/8% 
      Cumulative Participating Redeemable Preferred Stock for the period April 
      1, 2008 through June 30, 2008. The dividend is payable on or about July 
      15, 2008, to shareholders of record as of June 30, 2008. The dividend is 
      being declared from estimated earnings for the period ending June 30, 
      2008.
    
    
      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 medallion loans, 
      secured business loans and selected equity securities. Ameritrans' 
      wholly owned subsidiary Elk Associates Funding Corporation is licensed 
      by the United States Small Business Administration as a Small Business 
      Investment Company (SBIC) in 1980. The Company maintains its offices at 
      747 Third Avenue, 4th Floor, New York, NY 10017.
    
    
      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.