FBIO Fortress Biotech Inc

National Holdings Corporation (NASDAQ:NHLD) (“National” or the “Company”), a leading full-service independent brokerage, investment banking, trading, insurance, accounting and asset management firm, today announced the appointment of Henry E. Kaplan as President and Chief Operating Officer of National Asset Management, Inc., as well as Executive Vice President, Investment Solutions at National Securities Corporation. Mr. Kaplan brings over thirty years of industry experience, most recently as a Managing Director at Morgan Stanley, where he transformed the wealth management platform into an industry leading consulting and advisory business.

Michael Mullen, Chairman and Chief Executive Officer of National Holdings Corporation stated, “Attracting industry leaders like Henry to National is a further testament to the hard work and dedication our team has shown over the past 22 months to transform National into a best-in-class, full service, financial services firm.” Mr. Mullen continued, “Henry’s holistic, solutions-based approach, along with his experience and passion, will help strengthen the transformation of our company. We welcome Henry to the team and believe his expertise will not only accelerate the expansion of our internal capabilities but will also provide direction and support to our team of advisors and their clients.”

Tom Kowalczyk, Chief Executive Officer of National Asset Management stated, “As the wealth management landscape becomes more complex, it is imperative for us to evolve to provide the best possible service to our clients. The addition of Henry provides strong executive leadership as we build out our world class wealth management offering.” Mr. Kowalczyk continued, “National is aggressively targeting high quality advisors, and Henry’s experience and expertise will accelerate the expansive build out of our internal capabilities to support those advisors and their clients.”

“I am excited to join National at a time of tremendous growth both at the firm and in the industry,” stated Henry Kaplan. “I am extremely impressed with the dedication National has shown towards streamlining its business and creating the most value for its clients and shareholders. I look forward to helping the team propel National to the forefront of the wealth management industry.”

Mr. Kaplan joins National with over three decades of industry experience with Morgan Stanley, including many senior level positions. He spent the majority of his career working closely with financial advisers, building businesses, driving strategic initiatives and developing client solutions. During his tenure in Morgan Stanley’s Wealth Management division, Mr. Kaplan created an industry-leading advisory business resulting in the fastest growing platform among its peers. He later headed Graystone Consulting, a boutique institutional consulting business backed by Morgan Stanley. Most recently, Mr. Kaplan was head of distribution for the North America intermediary business at Morgan Stanley Investment Management and served as President of its broker dealer. Henry is a Certified Investment Management Analyst and a member of the Investments & Wealth Institute. Mr. Kaplan received his M.I.A. in Finance and Banking from Columbia University’s School of International and Public Affairs, and his B.A. in Political Science from Binghamton University.

About National Holdings CorporationNational Holdings Corporation (NASDAQ:NHLD) is a full-service investment banking and asset management firm that, through its affiliates, provides a range of services, including independent retail brokerage and advisory services, investment banking, institutional sales and trading, equity research, financial planning, market making, tax preparation and insurance, to corporations, institutions, high net-worth and retail investors. With over 1,000 advisors, registered reps, traders, sales associates and corporate staff, National Holdings operates through various subsidiaries including National Securities Corporation, National Asset Management, Inc., National Insurance Corporation, Gilman Ciocia, Inc. and GC Capital Corporation.  Formed as a holding company in 1999, National Holdings’ largest subsidiary National Securities Corporation has been in business since 1947. National Holdings is headquartered in New York and Florida. For more information, visit www.nhld.com. Fortress Biotech, Inc. (NASDAQ:FBIO) through its affiliate FBIO Acquisition, Inc., is a majority shareholder of NHLD.

FORWARD-LOOKING STATEMENTSThis press release may contain certain forward-looking statements. Any such statements, other than statements of historical fact, are based on management’s current expectations, estimates, projections, beliefs and assumptions about National Holdings, Inc., its current and prospective portfolio investments, and its industry. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond National Holdings, Inc.’s control, difficult to predict and could cause actual results to differ materially from those expected or forecasted in such forward-looking statements. Actual developments and results are likely to vary materially from these estimates and projections as a result of a number of factors, including those described from time to time in National Holdings, Inc.’s filings with the Securities and Exchange Commission. Such statements speak only as of the time when made, and National undertakes no obligation to update any such forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

CONTACTS:

MEDIA CONTACTEric Hazard for National917-765-8720national@fullyvested.com

INVESTOR RELATIONSEmail: ir@nhldcorp.com