National Securities Corporation Expands Equity Research Team with Appointment of Three Research Analysts

National Holdings Corporation (OTC BB:NHLD) (”National Holdings” or the “Company”), a full-service investment banking and asset management firm, today announced that Ilya Grozovsky, Glenn Williams and Chris Testa have joined the Company’s broker-dealer subsidiary, National Securities Corporation, expanding the Company’s team of equity research analysts. Mr. Grozovsky will serve as a Senior Equity Analyst covering the Technology sector, including software, cloud computing infrastructure and applications. Mr. Williams will cover the Oil & Gas sector. Mr. Testa will serve as an Equity Research Analyst, covering Business Development Companies (BDCs). In their new roles, Mr. Grozovsky, Mr. Williams and Mr. Testa are based in New York.

Mark Goldwasser, President and Chief Executive Officer of National Securities, commented, “The additions of Ilya, Glenn and Chris expands our broker-dealer business and strengthens our ability to provide our institutional and retail clients with actionable equity research. These appointments build on our offerings to support emerging growth companies across targeted industries, including financial institutions, energy and transportation, technology, media and telecom, and healthcare. We welcome these appointments and look forward to their contributions to the firm.”

Mr. Grozovsky brings to National Securities over 15 years of buy- and sell-side experience. Previously, he worked for bulge bracket and boutique firms, including ING, JP Morgan, SoundView Technology Group, MAC Investment Management, and Morgan Joseph & Co. He holds the FINRA Series 7, 63, 86, and 87 licenses and received his Bachelor of Arts degree in Economics from the University of Maryland.

Previously, Mr. Williams was an equity research analyst focused on exploration and production companies at Casimir Capital and Sidoti & Company. In addition to his research experience, Glenn served as a Registered Representative at ING Financial Partners and as an Investment Advisor at First Genesis Financial Group/CFG Asset Management. Glenn received his MBA, Finance from Temple University, Fox School of Business & Management and earned his Bachelor of Science degree in Real Estate with a minor in Economics at Pennsylvania State University. He holds Series 7, 63, 66, 86, and 87 licenses.

Prior to joining National Securities, Mr. Testa worked as an equity research analyst at Sidoti & Company covering mortgage services, non-bank originators, and other specialty finance companies. He also specialized in financial services research at Boston Provident, LP. Chris received his M.S. Finance (Concentration: Investment Management) from Pace University, Lubin School of Business. He holds Series 7, 63, 86, and 87 licenses.

About National Holdings Corporation

National Holdings Corporation is a full-service investment banking and asset management firm that provides a range of services, including independent retail brokerage and advisory services, investment banking, institutional sales and trading and equity research, financial planning, market making, tax preparation, insurance and annuities, to corporations, institutional investors and high net-worth clients. With over 1,100 independent advisors, brokers, traders and sales associates, the Company is a leading Independent Advisor and Broker services company. National Holdings operates through five subsidiaries: National Securities Corporation, vFinance Investments, Inc., National Insurance Corporation, National Asset Management, Inc. and Gilman Ciocia, Inc. The Company was founded in 1947 and is headquartered in New York and Florida. For more information, visit www.nhldcorp.com.

Safe Harbor Statements

This release contains forward-looking statements within the meaning of the federal securities laws. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Information on significant potential risks and uncertainties that may also cause differences includes, but is not limited to, those mentioned by National Holdings from time to time in their filings with the SEC. The words “may,” “will,” “believe,” “estimate,” “expect,” “plan,” “intend,” “project,” “anticipate,” “could,” “would,” “should,” “seek,” “continue,” “pursue” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. National Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may be disclosed from time to time in our SEC filings or otherwise, including the factors discussed in Item 1A, Risk Factors, of our Annual Report on Form 10-K and in or periodic reports on Form 10-Q, and, therefore, readers should not place undue reliance on these forward-looking statements.