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Investor Relations
Gyrodyne Company of America

Gyrodyne's directors, officers and more than 10% beneficial owners are required to report all of their stock-related transactions to the SEC, and deliver a copy of such report to NASDAQ and to Gyrodyne. Stock-related transactions include transactions in Gyrodyne stock or derivative securities of Gyrodyne's stock, including everything from buying or selling Gyrodyne stock on the open market, non-open market transactions in Gyrodyne's stock and grants and exercises of options to acquire Gyrodyne stock.

Insider Trading

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Who Shares Transaction Date
MACKLIN RONALD J 100 Purchase at $36 per share. 06/22/09
LAMB PAUL L 2,400 Sale at $36 per share. 06/22/09
LAMB PAUL L 2,500 Purchase at $36 per share. 06/22/09
LAMB PAUL L 100 Sale at $36 per share. 06/18/09
LAMB PAUL L 5,500 Sale at $36 per share. 06/17/09
LAMB PAUL L 5,500 Purchase at $36 per share. 06/17/09
BHATIA NAVEEN 12,179 Statement of Ownership 12/10/08
PETER PITSIOKOS 500 Sale at $35 - $35.52 per share. 06/18/08
PETER PITSIOKOS 399 Sale at $36.50 per share. 06/17/08
PETER PITSIOKOS 230 Sale at $37.50 per share 06/16/08

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