updated 4/5/2011 9:17:09 AM ET 2011-04-05T13:17:09

MINOT, N.D., April 5, 2011 (GLOBE NEWSWIRE) -- Capital Financial Holdings, Inc. (OTCBB:CPFH), a financial services company, announced that at the March 24, 2011 board meeting, the Board of Directors of Capital Financial Holdings, Inc., voted to increase the number of Board seats from four to five. By written action, the Board elected Vance A. Castleman as a director of the Company. The Board of Directors has not yet determined which committees the new director will join.

Mr. Castleman is a Real Estate Developer, is President and CEO of Inn-Vestments, Inc., President of Minot Lodging Expo, LLC; President and Board Member of Souris Basin Revolving Loan Committee; serves as a Director of Capital Financial Services, Inc. and Minot Hospitality Partners, LLC. Mr. Castleman also served as a Director of Capital Financial Holdings, Inc. from 1994 to 2010. The Board of Directors has determined that Mr. Castleman is independent within the meaning of the Securities Exchange Act of 1934.

Capital Financial Holdings, Inc. is publicly traded over the OTC Bulletin Board under the symbol CPFH.OB. The Company continues to operate as a Broker-Dealer with its wholly owned subsidiary Capital Financial Services, Inc.; a full-service brokerage firm that specializes in providing investment products and services to independent investment advisors and financial planners throughout the United States. More information is available at http://capitalfinancialholdings.com or by calling (877) 814-6379.

CONTACT: John Carlson
         701/837-9600

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