PHILADELPHIA, May 2 /PRNewswire-FirstCall/ -- Luminent Mortgage Capital,Inc. (NYSE: LUM) today announced that its shares have been de-listed from theNYSE and that beginning today, May 2, 2008, its common stock will be tradedover-the-counter under the symbol 'LUMC.'

The decision to de-list by NYSE Regulation, Inc. was reached in view ofthe fact that the Company has fallen below the NYSE's continued listingstandard regarding average share price over a consecutive 30 trading-dayperiod of not less than $1.00. In addition, the market capitalization of theCompany's common stock recently has also fallen below the NYSE's continuedlisting standard regarding average global market capitalization over aconsecutive 30 trading day period of not less than $25 million, which is theminimum threshold for listing.

ADDITIONAL INFORMATION

Luminent LLC, an affiliate of the Company, has filed a Form S-4registration statement with the SEC, which contains a preliminary proxystatement/prospectus relating to the Company's 2008 annual meeting ofstockholders and other relevant documents in connection with the proposedrestructuring. The definitive proxy statement/prospectus will be mailed to thestockholders of the Company when it becomes available. STOCKHOLDERS OF THECOMPANY ARE ADVISED TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMESAVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANYAMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAINIMPORTANT INFORMATION.

The proxy statement/prospectus and other relevant materials, when theybecome available, may be obtained free of charge at the SEC's web site athttp://www.sec.gov. In addition, investors and stockholders may obtain freecopies of the documents by contacting Karen Chang, Luminent Mortgage Capital,Inc., One Commerce Square, 21st floor, 2005 Market Street, Philadelphia, PA19103; telephone: (215) 564-5900.

The Company and its directors, executive officers and other members of itsmanagement and employees may be deemed to be participants in the solicitationof proxies from its stockholders in connection with the proposed merger.Information concerning such participants' ownership of the Company's commonstock will be set forth in the proxy statement/prospectus when it becomesavailable. This communication does not constitute an offer of any securitiesfor sale.

     Contact:     Karen Chang     Senior Vice President &      Chief Financial Officer     Phone:  (215) 564-5900     Email:  ir@luminentcapital.com

SOURCE Luminent Mortgage Capital, Inc.