Brooke Corporation (NASDAQ: BXXX), (the
"Company") announced today that, on July 15, 2008, it received a letter
from the staff of The Nasdaq Stock Market ("Staff") requiring that the
Company take steps to increase its per share price. The Nasdaq Stock
Market requires that each listed company maintain a minimum $1.00 per share
price as measured by the bid and closing price over a specified period of
time. The letter does not result in a delisting of Brooke Corporation
shares, and Nasdaq rules allow the Company until January 12, 2009 to
accomplish the per share price increase. Brooke Corporation expects to
comply by that date or any applicable extension thereof.
"Management is optimistic that Brooke Corporation will be able to address
the points contained in the Nasdaq letter," stated Chairman, Robert Orr.
"We believe the Company's stock price can and will be returned to a level
that complies with Nasdaq Stock Market rules. The Company and its main
operating subsidiaries, including Brooke Capital Corporation (AMEX: BCP)
and Aleritas Capital Corp. (formerly Brooke Credit Corporation) (OTCBB: BRCR), have made substantial expense reductions and other strategic
changes. The company is focused on generating additional revenues from our
asset base while also considering all strategic options regarding these
assets."
If the bid price for the Company's common stock closes at $1.00 per share
or more for 10 consecutive business days within the period provided, the
Company will have achieved compliance. The Company intends to monitor the
bid price for its common stock and consider options available to the
Company to achieve compliance with Nasdaq listing standards.
About Brooke Corporation... Brooke Corporation is listed on the NASDAQ
Global Market under the symbol "BXXX." Brooke Corporation owns 100 percent
of Brooke Savings Bank, a banker agent thrift institution, 81 percent of
Brooke Capital Corporation (AMEX: BCP), an insurance company and insurance
agency, and 62 percent of Aleritas Capital Corp. (formerly Brooke Credit
Corporation) (OTCBB: BRCR), a finance company specializing in insurance
lending.
Investor Relations Contact... Linda Rothemund, Market Street Partners,
linda@marketstreetpartners.com or (415) 445-3236.
This press release contains forward-looking statements. All forward-looking
statements involve risks and uncertainties, and several factors could cause
actual results to differ materially from those in the forward-looking
statements. The following factors, among others, could cause actual results
to differ from those indicated in the forward-looking statements: the
uncertainty that the company will be able achieve the minimum per share
price indicated in the Nasdaq notification letter within the time period
provided; changes in the law and in economic, political and regulatory
environments; and risks and factors described from time to time in reports
and registration statements filed by Brooke Corporation with the Securities
and Exchange Commission. A more complete description of Brooke's business
is provided in Brooke Corporation's most recent annual, quarterly and
current reports, which are available from Brooke Corporation without charge
or at http://www.sec.gov.
Investor Relations Contact
Linda Rothemund
Market Street Partners
Email Contact
(415) 445-3236
