New York, NY — May 14, 2013 — Centerline Holding Company (OTC:CLNH) (“Centerline” or the “Company”) today announced that its Board of Trustees has authorized the commencement of negotiations with Hunt Capital Partners, LLC, an affiliate of Hunt Companies, Inc. (“Hunt”) after Hunt informed the Company of its interest in acquiring complete ownership of the Company. An affiliate of Hunt previously acquired 978,274 of the Company’s Common Shares, representing approximately 41% of the Common Shares outstanding. The Company intends to pursue its negotiations with Hunt with the goal of maximizing shareholder value.

Centerline has entered into a standstill and exclusivity agreement with Hunt which obligates the Company to negotiate in good faith with Hunt to attempt to reach mutual agreement on a Transaction and precludes the Company from exploring other alternatives until 11:59 p.m. EDT on May 16, 2013. Hunt indicated an interest in acquiring the remaining ownership of the Company.

The negotiations with Hunt are ongoing and there can be no assurance with respect to the terms or the timing of any transaction, or whether conditions to closing, including third party consents, will be satisfied and a transaction will be concluded at all.

As a matter of policy, the Company does not comment on or provide the market with updates as to the status of the negotiations with Hunt, nor will it comment upon any rumors with regard to either of the foregoing or make a further announcement regarding the Board’s consideration of any transaction with Hunt until such time, if ever, that it enters into a definitive agreement for a completed transaction or is otherwise required to make an announcement.

About Centerline Capital Group

Centerline Capital Group, a privately held real estate finance and asset management company provides financing, investing and asset management services for affordable and conventional multifamily housing throughout the United States.  Centerline is organized around three business units: Mortgage Banking, Affordable Housing Debt and Affordable Housing Investments.  Under the Mortgage Banking and Affordable Housing Debt businesses, Centerline partners with developers, owners, and investors to provide them with capital to develop, acquire or redevelop their real estate assets.  Centerline’s core debt products consist of Fannie Mae, Freddie Mac, or HUD/FHA financing.  In addition, through several strategic alliances, Centerline offers various CMBS executions for multifamily and other commercial properties, bridge loans and select joint venture equity products.  Today the firm’s lending platform manages and services more than $12.2 billion in loans, of which affordable housing makes up $3.1 billion.  A leading sponsor of Low-Income Housing Tax Credit (LIHTC) funds, Centerline’s third business focuses on identifying and investing in affordable housing properties and managing those assets as a fiduciary for the fund investors throughout the asset’s and fund’s lives.  Since inception, the firm has raised more than $10 billion in equity across 137 funds, and invested in over 1,600 assets spanning 47 states.  Founded in 1972, Centerline is headquartered in New York City, with 221 employees in fourteen locations throughout the United States.  To learn more about Centerline, visit www.centerline.com.

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Certain statements in this document constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, statements relating to Centerline’s goal for the negotiations.  Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements speak only as of the date of this document. These statements are based on management’s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Other risks and uncertainties are detailed in Centerline Holding Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, and include, among others, business limitations caused by adverse changes in real estate and credit markets and general economic and business conditions; our ability to generate new income sources, raise capital for investment funds and maintain business relationships with providers and users of capital; changes in applicable laws and regulations; our tax treatment, the tax treatment of our subsidiaries and the tax treatment of our investments; competition with other companies; risk of loss under mortgage banking loss sharing agreements; and risks associated with providing credit intermediation. Except as required by law, Centerline expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Centerline’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.