Novation Companies, Inc. Announces Resignation of Gregory T. Barmore from the Board of Directors

Novation Companies, Inc. provides outsourced health care staffing and related services in the state of Georgia. The Company operates through its wholly owned subsidiary, Healthcare Staffing, Inc. (HCS). HCS delivers outsourced full-time and part-time employees primarily to Community Service Boards (CSBs), quasi state organizations that provide behavioural health services at facilities across Georgia, including mental health services, developmental disabilities programs, and substance abuse treatments. HCS also provides healthcare outsourcing and staffing services to hospitals, schools, and a range of privately-owned businesses. The Company's subsidiaries include Novation Holding, Inc., NovaStar Mortgage LLC, NovaStar Mortgage Funding Corporation, and NovaStar REMIC Financing Corporation.