UPDATE: Paulson Investment's 31st Annual Westergaard

UPDATE:  Paulson Investment's 31st Annual Westergaard Conference to Showcase Emerging Industry Leaders  PORTLAND, OR -- (MARKET WIRE) -- 10/16/08 --  Paulson Investment Company, Inc., a wholly owned subsidiary of Paulson Capital Corp. (NASDAQ: PLCC), today issued a list of confirmed companies scheduled to present at Paulson Investment's 31st Annual Westergaard Conference to be held in New York City.  The Conference will showcase small and emerging growth companies focused on establishing leadership in a broad range of industry sectors, including domestic and alternative energy, environmental responsibility, healthcare, consumer products, financial, security and technology.  Founded in 1978 by noted small cap analyst John Westergaard, this Conference provides a venue for select companies to share detailed insight into their business operations, short and long term growth strategies and industry vision.  Space is limited, so investment professionals interested in attending are encouraged to pre-register for the event.  For more information or to pre-register, please visit www.westergaardconference.com.     EVENT AT A GLANCE:     WHEN:     Wednesday, November 12, 2008              7:30 AM ET - 5:30 PM ET     WHERE:    Waldorf Astoria              301 Park Avenue (Between 49th and 50th)              New York City     LUNCH    KEYNOTE:  Lawrence Kudlow is host of CNBC's primetime "Kudlow &              Company," which airs nightly from 7:00 PM to 8:00 PM.              He is also the host of "The Larry Kudlow Show" on WABC Radio              that airs Saturdays from 10:00 AM to 1:00 PM. Larry Kudlow              is Chief Executive Officer of Kudlow & Co., LLC, an economic              and investment research firm. He is also a nationally              syndicated columnist and author. Larry Kudlow is a familiar              face in Washington and on Wall Street -- a renowned free              market, supply-side economist armed with knowledge, vision              and integrity acquired over a career spanning three decades.   There will be a breakfast analyst forum hosted by Dutton Associates from 7:30 AM ET - 8:30 AM ET to discuss emerging market trends in various industries.  There will also be a closing reception, immediately following the final presentation, from 5:30 - 7:30 PM ET.  This year's conference will play host to companies scheduled to give multiple presentations throughout the day to small, informal groups of investment professionals.  Confirmed presenting companies are:        Baldwin Technology Company, Inc. (NYSE: BLD)    Best Energy Services, Inc. (OTCBB: BEYS)    Converted Organics, Inc. (NASDAQ: COIN)    China Energy Recovery, Inc. (OTCBB: CGYV)    EDGAR Online, Inc. (NASDAQ: EDGR)    Enable Holdings, Inc. (OTCBB: ENAB)    Healthy Fast Food, Inc. (OTCBB: HFFI)    ICOP Digital, Inc. (NASDAQ: ICOP)    INX Inc. (NASDAQ: INXI)    IntegraMed America, Inc. (NASDAQ: INMD)    IPtimize, Inc. (PINKSHEETS: IPZI)    Kandi Technologies, Corp. (NASDAQ: KNDI)    MyECheck, Inc. (OTCBB: MYEC)    Mktg, Inc. (NASDAQ: CMKG)    Nanogen, Inc. (NASDAQ: NGEN)    Neoprobe Corporation (OTCBB: NEOP)    Pacific Asia Petroleum, Inc. (OTCBB: PFAP)    Patriot Scientific Corporation (OTCBB: PTSC)    Power Air Corporation (OTCBB: PWAC)    Rock Energy Resources, Inc. (OTCBB: RCKE)    SOYO Group, Inc.  (OTCBB: SOYO)    The Quantum Group, Inc.  (NYSE: QGP)    TZ Limited  (PINKSHEETS: TZLTF)    ZAP  (OTCBB: ZAAP)  To date, valued conference sponsors include:     Dutton Associates    Elite Financial Communications Group, LLC    EQUITIES Magazine    Lane PR    Marketwire, Incorporated    Holland & Knight, LLP    Morse Zelnick Rose & Lander, LLP   For more information on sponsorship opportunities, please contact Tiffany Korkis or John Morrison at Elite Financial Communications Group by calling 407-585-1080, or via email at Tiffany@efcg.net or John@efcg.net.  About Paulson Capital Corporation  Paulson Capital Corporation is the parent company to Paulson Investment Company, Inc.  Headquartered in Portland, Oregon, Paulson Investment Company, Inc. is the Northwest's largest independent brokerage firm and a national leader in public offerings of small and emerging growth companies with capital needs of $5 million to $45 million.  Founded by Chester "Chet" Paulson in 1970, it has managed or underwritten 163 securities offerings and has generated more than $1.2 billion for client companies.  The firm's enduring success stems from its ability to recognize emerging industry trends and from supporting emerging companies pioneering positive change and advancements in those related markets.  With corporate and independent retail brokerage offices located in 11 states throughout the country, Paulson Investment Company, Inc. aims to earn and build trust with retail and select institutional investors through highly customized financial portfolio management, diversified financial products and service offerings and effective administration and execution of investment strategies that specifically address individual risk tolerance levels.  In addition, Paulson Investment Company, Inc.'s brokerage clients look to the firm for compelling new investment ideas in the small and emerging growth markets.  Paulson Investment Company, Inc. was the managing underwriter for the initial and/or secondary public offerings for one or more of the presenting companies.  Paulson Investment Company, Inc. may make a market in one or more of the securities for the presenting companies.  These markets may, however, be changed at any time without notice.  Individuals associated with Paulson Investment Company, Inc. and its officers and/or directors may hold shares in companies affiliated with this conference and may increase or decrease such holdings without notice.  This release may contain "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties. Actual results of achievements may be materially different from those expressed or implied.  The Company's plan and objectives are based on judgments with respect to future conditions in the securities markets as well as general assumptions regarding the economy and competitive environment in the securities industry, which can be volatile and out of our control.  In particular, we make assumptions about our ability to complete corporate finance transactions and increase the volume and size of our securities trading operations, which are difficult or impossible to predict accurately and often beyond the control of the Company.  Therefore, there can be no assurance that any forward-looking statement will prove to be accurate.  FOR MORE INFORMATION, PLEASE CONTACT: Elite Financial Communications Group, LLC Dodi Handy President and CEO  407-585-1080 Email Contact    
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