Exhibit 99.1

PRESS RELEASE

Contacts:



|                     |  |              
|-------------------- |  | -------------
|Martin C. Cunningham |  | Keith R. Knox
|Chairman & CEO       |  | President    
|201-216-0100         |  | 201-216-0100 



|                      |  |              
|--------------------- |  | -------------
|FOR IMMEDIATE RELEASE |  | June 26, 2009

HUDSON HOLDING CORPORATION ANNOUNCES YEAR END RESULTS

Jersey City, NJ, June 26, 2009: Hudson Holding Corporation (OTC Bulletin Board: HDHL.OB-News) announced that it filed its results for the year ended
March 31, 2009 with the Securities and Exchange Commission today.

Were pleased with the steady annual revenue growth that Hudson achieved
despite a disappointing fourth quarter, which saw a decline in revenues, due to overall market conditions said Marty Cunningham, Hudsons Chairman and Chief Executive Officer. While the market environment is difficult,
Mr. Cunningham continued were fortunate to be seeing more opportunities to add seasoned producers and/or complementary business lines. Our loss is largely driven by recruitment and retention costs due to expansion.



|                          |  |                      |            |   |      |   |            |  
|------------------------- |  | -------------------- | ---------- | - | ---- | - | ---------- | -
|                          |  | Years EndedMarch 31, |           
|                          |  | 2009                 |            |   | 2008 |  
|                          |  |                     
|Sales and trading         |  | $                    | 23,285,148 |   |      | $ | 15,541,702 |  
|Commissions and fees      |  |                      | 13,735,660 |   |      |   | 10,070,068 |  
|Interest and other income |  |                      | 951,703    |   |      |   | 1,157,073  |  
|                          |  |                      |            |   |      |   |            |  
|Total revenues            |  | $                    | 37,972,511 |   |      | $ | 26,768,843 |  
|                          |  |                      |            |   |      |   |            |  
|                          |  |                     
|Net loss                  |  | $                    | (3,611,999 | ) |      | $ | (1,602,290 | )
|                          |  |                      |            |   |      |   |            |  
|Basic and diluted EPS     |  | $                    | (0.08      | ) |      | $ | (0.04      | )
|                          |  |                      |            |   |      |   |            |  

Total revenues increased 42% for the year ended March 31, 2009, to approximately $38 million from $26.8
million during the same period in the prior fiscal year. Sales and trading revenues increased to approximately $23.3 million from approximately $15.5 million during the prior fiscal year, due to the addition of sales traders and a significant
customer which comprised 18% of total revenues during fiscal 2009. Commissions and fee revenues increased to $13.7 million from $10.1 million during the prior fiscal year, due to an expansion of our institutional sales effort. Interest and other
income decreased to $1.0 million from $1.2 million during fiscal 2009, primarily due to a decrease in introductory brokerage services revenues.

The
pre-tax loss was $4.3 million as compared to a $2.6 million pre-tax loss during the prior year, as expenses increased by $12.9 million, primarily as a result of a $7.8 million increase in variable costs (commissions, execution, and clearing costs)
and a $3.3 million increase in salaries and related costs, due to an increase in recruitment and retention costs. Recruitment and retention costs (stock-based compensation and other recruiting incentives) increased to approximately $3.7 million
during fiscal 2009, from $1.0 million during the prior fiscal year, primarily due to costs associated with hiring additional sales traders. Income taxes were a benefit of $0.7 million as compared to a benefit of $1.0 million during the prior year,
which included a current year increase in the deferred tax valuation allowance. The net loss increased to approximately $3.6 million during fiscal 2009, from net loss of $1.6 million during the prior fiscal year.



1



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|                           |  |               |            |               |   |           
|-------------------------- |  | ------------- | ---------- | ------------- | - | ----------
|                           |  | March 31,2009 |            | March 31,2008
|Hudson Holding Corporation |  |               |            |               |   |           
|Stockholders equity       |  | $             | 13,637,690 |               | $ | 12,075,398
|                           |  |               |            |               |   |           
|Total assets               |  | $             | 17,106,940 |               | $ | 17,323,538
|                           |  |               |            |               |   |           
|                           |  |              
|Hudson Securities, Inc.    |  |               |            |               |   |           
|Net capital                |  | $             | 6,109,286  |               | $ | 4,870,737 
|                           |  |               |            |               |   |           
|Excess net capital         |  | $             | 5,109,286  |               | $ | 3,870,737 
|                           |  |               |            |               |   |           

Hudson Holding Corporation is a publicly traded company on the OTC Bulletin Board under the symbol
HDHL and is the parent of Hudson Securities, Inc. and Hudson Technologies, Inc. Hudson Securities, Inc. is dedicated to meeting the liquidity needs of its clientsinstitutions, hedge funds, asset managers, and broker dealersby
providing execution solutions and making markets in over 15,000 U.S. and foreign securities and ADRs. As a registered broker-dealer under the Securities Exchange Act of 1934, Hudson Securities is a member of the Financial Industry Regulatory
Authority (FINRA) and has been in business since 1984. Hudson Technologies provides technology services to Hudson Securities and client companies.

Certain statements contained herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations,
estimates and projections about the Companys industry, managements beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are
subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or
implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its
view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here; however, readers should review carefully reports or documents the Company files periodically with the Securities
and Exchange Commission.



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HUDSON HOLDING CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS



|                                                                  |  |                              |            |   |      |   |            |  
|----------------------------------------------------------------- |  | ---------------------------- | ---------- | - | ---- | - | ---------- | -
|                                                                  |  | For the Years EndedMarch 31, |           
|                                                                  |  | 2009                         |            |   | 2008 |  
|Revenues:                                                         |  |                              |            |   |      |   |            |  
|Sales and trading                                                 |  | $                            | 23,285,148 |   |      | $ | 15,541,702 |  
|Commissions and fees                                              |  |                              | 13,735,660 |   |      |   | 10,070,068 |  
|Net interest and other income                                     |  |                              | 951,703    |   |      |   | 1,157,073  |  
|                                                                  |  |                              |            |   |      |   |            |  
|                                                                  |  |                             
|                                                                  |  |                              | 37,972,511 |   |      |   | 26,768,843 |  
|                                                                  |  |                              |            |   |      |   |            |  
|                                                                  |  |                             
|Expenses:                                                         |  |                              |            |   |      |   |            |  
|Salaries and related costs                                        |  |                              | 8,590,451  |   |      |   | 5,266,839  |  
|Commissions, execution and clearing charges                       |  |                              | 22,598,246 |   |      |   | 14,781,058 |  
|Communications                                                    |  |                              | 5,820,328  |   |      |   | 5,012,413  |  
|Occupancy                                                         |  |                              | 1,200,317  |   |      |   | 1,388,005  |  
|Professional fees                                                 |  |                              | 1,696,264  |   |      |   | 1,063,603  |  
|Business development                                              |  |                              | 845,623    |   |      |   | 773,788    |  
|Other                                                             |  |                              | 1,496,319  |   |      |   | 1,055,706  |  
|                                                                  |  |                              |            |   |      |   |            |  
|                                                                  |  |                             
|                                                                  |  |                              | 42,247,548 |   |      |   | 29,341,412 |  
|                                                                  |  |                              |            |   |      |   |            |  
|                                                                  |  |                             
|Loss before income tax benefit                                    |  |                              | (4,275,037 | ) |      |   | (2,572,569 | )
|Income tax benefit                                                |  |                              | (663,038   | ) |      |   | (970,279   | )
|                                                                  |  |                              |            |   |      |   |            |  
|                                                                  |  |                             
|Net loss                                                          |  | $                            | (3,611,999 | ) |      | $ | (1,602,290 | )
|                                                                  |  |                              |            |   |      |   |            |  
|                                                                  |  |                             
|Loss per share - basic and diluted                                |  | $                            | (0.08      | ) |      | $ | (0.04      | )
|                                                                  |  |                              |            |   |      |   |            |  
|                                                                  |  |                             
|Weighted average number of shares outstanding - basic and diluted |  |                              | 43,939,810 |   |      |   | 36,725,185 |  
|                                                                  |  |                              |            |   |      |   |            |  



3



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HUDSON HOLDING CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION



|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------- | ---------- | - | ---- | - | ---------- | -
|                                                                                                                                                                                         |  | As of March 31, |           
|                                                                                                                                                                                         |  | 2009            |            |   | 2008 |  
|ASSETS                                                                                                                                                                                   |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|Cash and cash equivalents                                                                                                                                                                |  | $               | 6,694,914  |   |      | $ | 6,172,348  |  
|Cash - restricted                                                                                                                                                                        |  |                 | 252,408    |   |      |   | 245,505    |  
|Receivable from clearing brokers                                                                                                                                                         |  |                 | 1,294,689  |   |      |   | 2,475,575  |  
|Securities owned, at fair value                                                                                                                                                          |  |                 | 2,246,488  |   |      |   | 2,423,257  |  
|Income taxes receivable                                                                                                                                                                  |  |                 | 75,040     |   |      |   | 419,041    |  
|Furniture, equipment, capitalized software and leasehold improvements, net                                                                                                               |  |                 | 1,182,028  |   |      |   | 959,733    |  
|Deferred tax assets                                                                                                                                                                      |  |                 | 1,515,000  |   |      |   | 705,000    |  
|Prepaid expenses and other assets                                                                                                                                                        |  |                 | 866,027    |   |      |   | 409,289    |  
|Prepaid compensation, net                                                                                                                                                                |  |                 | 1,869,167  |   |      |   | 2,402,611  |  
|Goodwill                                                                                                                                                                                 |  |                 | 1,111,179  |   |      |   | 1,111,179  |  
|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|                                                                                                                                                                                         |  | $               | 17,106,940 |   |      | $ | 17,323,538 |  
|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|LIABILITIES AND STOCKHOLDERS EQUITY                                                                                                                                                     |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|Liabilities:                                                                                                                                                                             |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|Accounts payable, accrued expenses and other liabilities                                                                                                                                 |  | $               | 1,461,774  |   |      | $ | 1,374,548  |  
|Commissions payable                                                                                                                                                                      |  |                 | 1,259,987  |   |      |   | 1,070,511  |  
|Securities sold, but not yet purchased, at fair value                                                                                                                                    |  |                 | 637,829    |   |      |   | 2,778,081  |  
|Income taxes payable                                                                                                                                                                     |  |                 | 60,827     |   |      |   | 25,000     |  
|Payable to clearing brokers                                                                                                                                                              |  |                 | 48,833     |   |      |   |           |  
|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|Total liabilities                                                                                                                                                                        |  |                 | 3,469,250  |   |      |   | 5,248,140  |  
|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|Commitments and contingencies                                                                                                                                                            |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|Stockholders equity:                                                                                                                                                                    |  |                 |            |   |      |   |            |  
|Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued                                                                                                              |  |                 |           |   |      |   |           |  
|Common stock, $0.001 par value; 200,000,000 shares authorized; 47,794,537 shares issued and outstanding at March 31, 2009 and 36,725,185
shares issued and outstanding at March 31, 2008 |  |                 | 47,795     |   |      |   | 36,725     |  
|Additional paid-in capital                                                                                                                                                               |  |                 | 17,794,521 |   |      |   | 12,631,300 |  
|Accumulated deficit                                                                                                                                                                      |  |                 | (4,204,626 | ) |      |   | (592,627   | )
|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|Total stockholders equity                                                                                                                                                               |  |                 | 13,637,690 |   |      |   | 12,075,398 |  
|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  
|                                                                                                                                                                                         |  |                
|                                                                                                                                                                                         |  | $               | 17,106,940 |   |      | $ | 17,323,538 |  
|                                                                                                                                                                                         |  |                 |            |   |      |   |            |  



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