Manhattan Bridge Capital Authorizes New Stock Repurchase Program Allowing Company To Buy Back Up To 100K Common Shares Over The Next 12 Months

Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) announced that its Board of Directors has authorized a common stock repurchase plan allowing the buyback of up to 100,000 common shares in market or off-market transactions at prevailing prices over the next twelve months.

The manner, timing and number of shares purchased will be at the Company's discretion.

Assaf Ran, Chairman of the Board and Chief Executive Officer stated, "I believe that the recent dramatic decline in our stock price creates an opportunity for the Company purchase the stock. I also believe that our extraordinary low leverage, the unusual personal commitment of our management, together with our impressive performances and track record even in troubled times, support our decision to implement a repurchase program and reflect our confidence in the Company's business and future prospects."