Gyrodyne Co. of America Inc. Receives Notice of the Retirement of Stephen V. Maroney from Positions as President and Chief Executive Officer and Director, Effective August 16, 2012

On July 25, 2012, Gyrodyne Co. of America Inc. received written notice of the retirement of Stephen V. Maroney from his positions as the company's President and Chief Executive Officer and as a director, effective August 16, 2012. Mr. Maroney has served as President and Chief Executive Officer since 1999.