Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                Date of Report (Date of earliest event reported):
                        March 17, 2008 (March 17, 2008)

                        Ace Marketing & Promotions, Inc.
             (Exact name of registrant as specified in its charter)

                                    New York
            (State or jurisdiction of incorporation or organization)

                            (Commission File Number)

                     (I.R.S. Employer Identification Number)

                  457 Rockaway Avenue, Valley Stream, NY 11582
               (Address of principal executive offices (Zip Code)

                  Registrant's telephone number: (516) 256-7766

          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

         Reference is made to the press release appended hereto as Exhibits

Item 8.01 Other Events.

         Ace and Paul S. Pickard have agreed to mutually terminate Mr. Pickard's
consulting contract so that he can pursue other business interests that may be
in conflict with Ace.

Item 9.01 Financial Statements and Exhibits.


99.1     Press Release dated March 17, 2008.


Pursuant to the requirements of Section 13 or 15(b) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                              ACE MARKETING & PROMOTIONS, INC.

Dated:  March 17, 2008                        By: /s/ Michael D. Trepeta
                                              Michael D. Trepeta, President