Pixelplus Announces Receipt of Bid Price Notification Letter from Nasdaq

SEOUL, South Korea , Aug. 19 /PRNewswire-FirstCall/ -- Pixelplus Co., Ltd. (Nasdaq: PXPL), a fabless semiconductor company in Korea that designs, develops, and markets CMOS image sensors for various consumer electronics applications, today announced that the Company received a bid price notification letter from Nasdaq stating that the Company is failing to comply with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Specifically, Nasdaq's bid price notification letter, which the Company received on August 18, 2008 , states that for the last 30 consecutive business days, the bid price of the Company's American Depositary Shares has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4310(c)(4) ("Rule"). In accordance with Marketplace Rule 4310(c)(8)(D), the Company will be provided 180 calendar days, or until February 10, 2009 , to regain compliance.

If compliance with the Rule cannot be demonstrated by February 10, 2009 , Nasdaq will determine whether the Company meets The Nasdaq Capital Market initial listing criteria as set forth in Marketplace Rule 4310(c), except for the bid price requirement. If the Company meets the initial listing criteria, Nasdaq will notify the Company that it has been granted an additional 180 calendar day compliance period.

About Pixelplus Co., Ltd.

Pixelplus is a South Korea -based developer of high-performance, high-resolution, and cost-effective CMOS image sensors for use primarily in mobile camera phones. In addition to mobile phones, Pixelplus provides CMOS image sensors and SoC solutions for use in webcams and notebook embedded cameras, toys and games, and security and surveillance systems applications.

As a fabless semiconductor company, Pixelplus is focused on creating proprietary design technologies to develop CMOS image sensors with sharp, colorful and enhanced image quality, size efficiency, and low power consumption.

SOURCE Pixelplus Co., Ltd.