announced on October 24, 2008 the Company received notification from the New York Stock Exchange that the Company had fallen below the continued listing standard, which requires a minimum average closing price of $1.00 per share over 30 consecutive trading days.
The Company has a period of six months, subject to possible extension, to bring its average share price back above $1.00. Under the NYSE rules, the Company's common stock will continue to be listed on the NYSE during the cure period, subject to the Company's compliance with other NYSE continued listing requirements. The Company plans to notify the NYSE that it intends to cure the deficiency.
The Company's business operations, Securities and Exchange Commission reporting requirements, credit agreements and other debt obligations are unaffected by this notification.