RAND CAPITAL CORP — Director's Dealing 2011

Jan 31, 2011

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: RAND CAPITAL CORP (RAND)
CIK: 0000081955
Period of Report: 2011-01-05

Reporting Person: COLMAC HOLDINGS LTD (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	810000	Direct
Common Shares	810000	Indirect

Footnotes

F1: The shares indicated are indirectly owned by Robert S. McLeese who, through his ownership interest in Colmac Holdings Limited, obtained voting control and investment power over the shares on the date indicated. Mr. McLeese's address is the same as that of Colmac Holdings Limited.