IRVINE, Calif., Jan. 8 /PRNewswire-FirstCall/ -- ECC Capital Corporation (Pink Sheets: ECRO), a mortgage finance real estate investment trust, filed the attached Certificate of Notice with the State of Maryland Department of Assessment and Taxation on January 7, 2008, regarding the reduction of its shareholder ownership limitation from 5.6% to 2.5%. The Company had previously disclosed its intent to reduce ownership limits. Effective January 7, 2008, the Company reduced its ownership limits to 2.5%. Shareholders whose ownership percentage of the Company's common stock exceeded the reduced ownership limit on January 6, 2008, but was less than or equal to the existing 5.6% ownership limit, would be grandfathered and therefore, permitted to continue owning the Company's stock at their current ownership percentage. However, if those shareholders subsequently reduced their ownership percentage of the Company's common stock, their maximum ownership limit would be reduced accordingly until their limit was equal to the new ownership limit. As of January 7, 2008, shareholders are prohibited from purchasing Company common stock in excess of the new 2.5% ownership limit. Although ECC Capital has issued press releases in the past, in an effort to reduce costs, ECC Capital will limit its future use of press releases. Please periodically check ECC Capital's website for information. You may also contact ECC Capital using the toll free number of 866-338-8749 or via email at . ECC CAPITAL CORPORATION CERTIFICATE OF NOTICE THIS IS TO CERTIFY THAT: FIRST: The Board of Directors of ECC Capital Corporation, a Maryland corporation (the "Corporation"), pursuant to Section 7.9.3 of the charter of the Corporation (the "Charter"), has (i) decreased the Aggregate Stock Ownership Limit (as defined in the Charter) to 2.5% in value of the aggregate of the outstanding shares of Capital Stock (as defined in the Charter) and (b) decreased the Common Stock Ownership Limit (as defined in the Charter) to 2.5% (by value or number of shares, whichever is more restrictive) of the outstanding Common Stock (as defined in the Charter) of the Corporation. The preceding decreased Aggregate Stock Ownership Limit and/or the Common Stock Ownership Limit will not be effective for any Person (as defined in the Charter) whose percentage ownership in Capital Stock or Common Stock, as the case may be, is in excess of such decreased Aggregate Stock Ownership Limit and/or the Common Stock Ownership Limit at the time of this notice until such time as such Person's percentage of Capital Stock or Common Stock, as the case may be, equals or falls below the decreased Aggregate Stock Ownership Limit and/or the Common Stock Ownership Limit, but any acquisition of Capital Stock or Common Stock, as the case may be, in excess of the decreased Aggregate Stock Ownership Limit and/or the Common Stock Ownership Limit after the date of this notice is prohibited. SECOND: The undersigned officer acknowledges this Certificate of Notice to be the corporate act of the Corporation and as to all matters or facts required to be verified under oath, the undersigned officer acknowledges that to the best of his knowledge, information and belief, these matters and facts are true in all material respects and that this statement is made under the penalties for perjury. AT THE COMPANY: Roque A. Santi President and Chief Financial Officer (949) 955-8730 DATASOURCE: ECC Capital Corporation CONTACT: Roque A. Santi, President and Chief Financial Officer of ECC Capital Corporation, +1-949-955-8730, Web site: http://www.ecccapital.com/

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