The Board of Directors of Castle Holding Corp. (OTCPK:CHOD) executed a distribution agreement to spin-off of Castle Advisors, Inc. on October 29, 2014. All of the Castle Advisors shares that are owned by CHOD will be deposited with the escrow agent, Michael T. Studer.

For the year ended September 30, 2014, Castle Advisors had consulting fee revenue of $0.02 million, net income of $0.02 million and stockholders' equity of $0.02 million. Board of Directors of CHOD has resolved that it would be in the best interests of CHOD and its common stockholders that all of the outstanding securities of Castle Advisors should be distributed to the common stockholders of CHOD existing at record date on November 10, 2014. The transaction is subject to filing of amendment to Castle Advisors certificate of incorporation to increase the number of authorized shares of Castle Advisors and preparation and delivery of a registration statement.

Michael T Studer acted as distribution escrow agent in the transaction.