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Atlantic Coast Entertainment Holdings cancels outstanding warrants

19 March 2007

NEW YORK – (PRESS RELEASE) -- Atlantic Coast Entertainment Holdings, Inc. ("Atlantic"), (OTC Bulletin Board: ACEH), today announced that in accordance with the terms of the Warrant Agreement (the "Warrant Agreement"), dated July 22, 2004, by and between Atlantic and American Stock Transfer and Trust Company (the "Warrant Agent"), the Board of Directors of Atlantic has determined that all outstanding Atlantic warrants (the "Warrants") will no longer be exercisable after June 20, 2007 (the "Cancellation Date").

Prior to 5:00 p.m., New York City time, on the Cancellation Date, holders of the Warrants may exercise their Warrants to purchase .275 shares of Atlantic common stock, par value $.01 per share (the "Atlantic Common Stock") for each Warrant that they own at an exercise price of $.01 per share of Atlantic Common Stock.

If a holder of Warrants fails to exercise such Warrants prior to 5:00 p.m., New York City time, on June 20, 2007, such holder will lose a valuable right and will no longer have an opportunity to exercise such Warrants for shares of Atlantic Common Stock. Information about Atlantic may be found in its filings with the Securities and Exchange Commission, including its reports on Forms 10-K and 10-Q.

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