EXHIBIT 99.1 LUSE GORMAN POMERENK & SCHICK A PROFESSIONAL CORPORATION ATTORNEYS AT LAW 5335 WISCONSIN AVENUE, N.W., Suite 400 WASHINGTON, DC 20015 -------------- TELEPHONE (202) 274-2000 FASCIMILE (202) 362-2902 www.luselaw.com WRITER'S DIRECT DIAL NUMBER WRITER'S E-MAIL (202) 274-2030 rgarabedian@luselaw.com April 2, 2007 VIA EMAIL - --------- Thomas Choe Analyst The NASDAQ Stock Market, LLC 9600 Blackwell Road Rockville, Maryland 20850 Re: Atlantic Coast Federal Corporation (Trading Symbol ACFC) Notice of Non-Compliance -------------------------------------------------------- Dear Mr. Choe: On behalf of Atlantic Coast Federal Corporation (the "Company"), whose shares of common stock are listed on the NASDAQ Global Market, we hereby notify you that the Company had become aware of its material non-compliance with the requirements of NASDAQ Rule 4350(d)(2)(A). The non-compliance related to legal fees paid by the Company to the law firm of which a former audit committee member is a partner. The director has resigned from the Company's Audit Committee, effective March 29, 2007. Following the resignation, the Board of Directors of the Company appointed a new independent board member to the Audit Committee of the Company. The Audit Committee then met in order to perform its duties required in connection with the Company's Annual Report on Form 10-K and Annual Meeting of Stockholders and to ratify the Company's previous actions. As a result, the Company is now in compliance with the NASDAQ's corporate governance requirements. Specifically, (i) the audit committee is comprised solely of independent directors and (ii) decisions relating to appointing a registered public accounting firm and the issuance of an Audit Committee report were made by a committee comprised solely of independent directors. The NASDAQ Stock Market, LLC April 2, 2007 Page 2 Please direct any questions with regard to this notice to the undersigned at (202) 274-2030 or Benjamin Azoff at (202) 274-2010. Respectfully, /s/ Richard S. Garabedian Richard S. Garabedian cc: Robert J. Larison, Jr., President and Chief Executive Officer Thomas B. Wagers, Sr., Chief Operating Officer Benjamin Azoff, Esq.