
                                                                    Exhibit 99.1


FROM:     BKF CAPITAL GROUP, INC.
          One Rockefeller Plaza
          19th Floor
          New York, NY  10020

          Rubenstein Associates, Inc.
          Public Relations - Tel.:  212-843-8054
          Contact:  John Henderson


                    BKF CAPITAL GROUP, INC. DECLARES DIVIDEND
                  DISTRIBUTION OF COMMON SHARE PURCHASE RIGHTS



NEW YORK, May 29, 2001 -- The Board of Directors of BKF Capital Group, Inc.
(NYSE: BKF) today declared a dividend distribution of one Common Share Purchase
Right on each outstanding share of BKF common stock.

            John A. Levin, Chairman, Chief Executive Officer and President of
BKF Capital Group, Inc., stated: "Despite no current knowledge of a takeover
attempt of the company, now that our company is in a public operating structure,
the board needs the tools to assure that all of BKF's stockholders receive fair
and equal treatment in the event of any proposed takeover."

            The Rights are intended to enable all BKF stockholders to realize
the long-term value of their investment in the Company. The Rights will not
prevent a takeover, but should encourage anyone seeking to acquire the Company
to negotiate with the Board prior to attempting a takeover.

            The Rights will be exercisable only if a person or group acquires
10% or more of BKF's common stock or commences a tender offer the consummation
of which would result in ownership by a person or group of 10% or more of the
common stock. Each Right will entitle stockholders to buy one share of the
Company's common stock at an exercise price of $120.00.

            If a person or group acquires 10% or more of BKF's outstanding
common stock, each Right will entitle its holder (other than such person or
members of such group) to purchase, at the Right's then-current exercise price,
a number of BKF's common shares having a market


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value of twice such price. In addition, if BKF is acquired in a merger or other
business combination transaction after a person has acquired 10% or more of the
Company's outstanding common stock, each Right will entitle its holder to
purchase, at the Right's then-current exercise price, a number of the acquiring
company's common shares having a market value of twice such price. The acquiring
person will not be entitled to exercise these Rights.

            Prior to the acquisition by a person or group of beneficial
ownership of 10% or more of the Company's common stock, the Rights are
redeemable for one cent per Right at the option of the Board of Directors.

            The dividend distribution will be made on June 18, 2001, payable to
stockholders of record on that date, and is not taxable to stockholders. The
Rights will expire on June 17, 2011.

            BKF's subsidiary, John A. Levin & Co., Inc., is a New York-based
investment management firm founded in 1982, and had approximately $12.6
billion under management as of April 30, 2001, in a combination of U.S.
equity value and alternative investment strategies.  Clients include
individuals, U.S. and foreign pension plans, college endowments, foundations,
sub-advisory relationships through financial intermediaries, and registered
and unregistered investment funds. BKF Capital Group, Inc. trades on the New
York Stock Exchange under the symbol "BKF."


            This press release contains certain statements that are not
historical facts, including statements preceded by, followed by or that include
the words "may," "believes," "expects," "anticipates," "intends," or the
negation thereof, or similar expressions, which constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 (the "Reform Act"). For those statements, we claim the protection of the
safe harbor for forward-looking statements contained in the Reform Act. These
forward-looking statements are based on our current expectations and are
susceptible to a number of risks, uncertainties and other factors, and our
actual results, performance and achievements may differ materially from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include the following: competition; the
existence or absence of adverse publicity; changes in business strategy; quality
of management; availability, terms and deployment of capital; business abilities
and judgment of personnel; availability of qualified personnel; labor and
employee benefit costs; changes in, or failure to comply with, government
regulations; the costs and other effects of legal and administrative
proceedings; and other risks and uncertainties referred to in this document and
in our other current and periodic filings with the Securities and Exchange
Commission, all of which are difficult or impossible to predict accurately and
many of which are beyond our control. We will not undertake and specifically
decline any obligation to publicly release the result of any revisions which may
be made to any forward-looking statements to reflect events or circumstances
after the date of such statements or to reflect the occurrence of anticipated or
unanticipated events. In addition, it is our policy generally not to make any
specific projections as to future earnings, and we do not endorse any
projections regarding future performance that may be made by third parties.


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