American Stock Exchange News Release

Equity Release
Media Contact: Melanie Jacobus
American Stock Exchange
212-306-1640/melanie.jacobus@amex.com

AMERICAN STOCK EXCHANGE LISTS UNITS OF ADCARE HEALTH SYSTEMS, INC.

New York, November 10, 2006 -  The American Stock Exchange (Amex) today listed the units of Adcare Health Systems, Inc. under the ticker symbol ADK.U.

Based in Springfield, Ohio, Adcare Health Systems, Inc. manages, develops and acquires nursing homes, assisted living, independent living, retirement communities and also provides home health care services.

"The American Stock Exchange is pleased to welcome Adcare Health Systems, Inc. to our market," said John McGonegal, Senior Vice President of Amex's equities group. "We look forward to helping Adcare achieve their goals with our value added services."

"The management of Adcare is excited with the listing and is looking forward to expanding the operations of the company," stated David A. Tenwick, Chairman.

The specialist in Adcare Health Systems, Inc. will be AGS Specialist. For further information on ADK.U and other Amex-listed companies, please visit www.amex.com.

About American Stock Exchange

The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 205 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com