DCAP Dcap Grp. (MM)

DCAP Group, Inc. (NASDAQ: DCAP), the largest chain of independent storefront insurance agencies in the Northeast, today announced that it has been advised by The Nasdaq Stock Market that Nasdaq Marketplace Rule 4310(c)(4), which requires companies to maintain a minimum bid price of $1.00 per share, has been temporarily suspended. Based on this action, the Company now has until July 3, 2009 to achieve compliance with Rule 4310(c)(4). On October 1, 2008, the Company received a deficiency notice from The Nasdaq Stock Market notifying the Company that it is not in compliance with Rule 4310(c)(4) because the Company's common stock closed below the minimum bid price of $1.00 per share for the preceding 30 consecutive business days. As a result, the Company had been provided with an initial period of 180 calendar days, or until March 30, 2009, to regain compliance with the minimum $1.00 share bid price requirement. On October 16, 2008, Nasdaq implemented a temporary suspension of enforcement of Rule 4310(c)(4) until Friday, January 16, 2009, due to the volatility of current market conditions. As a result, the remainder of the Company�s initial compliance period of 180 calendar days has been tolled until Monday, January 19, 2009 and the Company�s initial compliance date to comply with Rule 4310(c)(4) has been extended from March 30, 2009 to July 3, 2009. If at any time before July 3, 2009, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq is to notify the Company that it has achieved compliance with Rule 4310(c)(4). If the Company cannot demonstrate compliance with Rule 4310(c)(4) during the initial compliance period, the Nasdaq staff will determine whether the Company meets The Nasdaq Capital Market initial listing criteria as set forth in Nasdaq Marketplace Rule 4310(c), except for the bid price requirement. If the Company meets the initial listing criteria, the Nasdaq staff will notify the Company that it has been granted an additional 180 calendar day compliance period. The additional 180 day compliance period would commence on July 4, 2009. About DCAP Group DCAP Group, Inc. owns and operates the largest chain of independent storefront insurance agencies in the Northeast. Through DCAP Insurance, Barry Scott Insurance, Atlantic Insurance Agency and Accurate Agency, DCAP Group provides automobile insurance (and to a lesser extent, motorcycle and homeowners), enhanced by complimentary premium financing capabilities, to retail customers in New York and Pennsylvania. Other products include automobile club service for roadside emergencies and income tax preparation services. As of October 17, 2008, there were 64 owned or franchised storefront locations. Forward Looking Statements Statements in this press release may contain �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These statements are based on management�s current expectations and are subject to uncertainty and changes in circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those included in forward-looking statements due to a variety of factors. More information about these factors can be found in DCAP�s latest Annual Report filed with Securities and Exchange Commission under Form 10-KSB. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.