HMB

CALGARY, Nov. 26 /CNW/ -- CALGARY, Nov. 26 /CNW/ - Humboldt Capital Corporation (TSX-V: HMB) Humboldt is pleased to report that at September 30, 2010, the Company's net asset value had increased to $49.3 million or $3.99 per share, fully diluted, compared with $38.7 million, or $3.16 per share, fully diluted, a year earlier.  Humboldt closed the quarter with $8.5 million of working capital or 17 % of its asset value. Earnings totaled $4.3 million for the third quarter of 2010.  Earnings for the nine months ended September 30, 2010 were $2.6 million or $0.22 per share compared with $8.2 million or $0.67 per share for the nine months ended September 30, 2009. Humboldt is in an enviable position, with a substantial cash balance built up during 2007 and early 2008, to allow it to weather any significant economic and stock market set back.  From this position of strength Humboldt plans to continue to upgrade the quality of its holdings while reducing its portfolio diversity over the next year. Highlights Nine Months Ended September 30, (Thousands, except per share amounts) 2010 2009 2008 Earnings (loss) and comprehensive $ 2,649 $ 8,163 $ (10,859) earnings (loss) for the period Earnings (loss) per share, diluted $ 0.22 $ 0.67 $ (0.88) Eligible Dividends paid $ - $ 3,042 $ - Dividends per share $ - $ 0.25 $ - Share capital $ 2,017 $ 2,033 $ 2,048 Retained earnings $ 45,783 $ 35,291 $ 41,916 Shareholders' equity $ 49,297 $ 38,664 $ 45,304 Cash and cash equivalents $ 8,261 $ 14,699 $ 22,621 Shares outstanding 12,022 12,120 12,207 Net asset value per share, diluted $ 3.99 $3.16 $3.64 Humboldt Financial Statements and Management's Discussion and Analysis for the nine months ended September 30, 2010 have been filed on SEDAR and can be found on Humboldt's website at www.humboldtcapital.com. Forward-looking statements - the press release today contains "forward-looking" information.  Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information.  Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information.  Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. piR.W. Lamond, Chairman of the Board - or - C.A. (Tony) Teare, Executive Vice President/ibr/ HUMBOLDT CAPITAL CORPORATIONbr/ Telephone:  (403) 269-9889br/ Fax:  (403) 269-9890br/ TSX-V:  HMB/p

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