Jonathan P. Evans Joins as Chief Executive Officer

RYE, New York, October 22, 2012 – (OTC: MGHL) Morgan Group Holding Co. is today announcing that Jonathan P. Evans has been appointed as the Company’s Chief Executive Officer, effective November 1, 2012. In the position he replaces Mario J. Gabelli, who remains non-executive Chairman after more than ten years of service in the role, for which he received no salary or fees. Mr. Evans also has been elected to the Board of Directors.

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