X0202 3 2006-11-09 1 0001304623 ACA Capital Holdings Inc ACA 0001335482 King David E C/O ACA CAPITAL HOLDINGS, INC. 140 BROADWAY NEW YORK NY 10005 1 0 0 0 The reporting person does not, directly or indirectly, beneficially own any securities of the issuer . The filing of this report shall not be deemed an admission of beneficial ownership of any securities for purposes of Section 16 or for any other purpose. Exhibit List: Exhibit 24: Power of Attorney /s/ Stacey Tyson, Attorney-In-Fact 2006-11-09