Item 8.01. Other Events.
Gyrodyne Company of America, Inc. (the "Company") today was informed by the
Court of Claims of the State of New York of its decision to grant, at the
request of the State of New York (the "State"), a ten-day postponement of the
commencement of the trial in the Company's case for just compensation from the
State resulting from the condemnation of 245.5 acres of the Company's
Flowerfield property. The trial, which was scheduled to commence on August 3,
2009, is now scheduled to commence on August 13, 2009.
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