Notify Tech Fails To Meet SmallCap Listing Criteria

SAN JOSE, Calif. -April 5, 2001- Nasdaq informed Notify Technology Corp. (NTFY) that the company fails to meet the $2 million minimum net tangible asset requirement for listing on the SmallCap market.

In a press release Thursday, Notify Technology said it filed a request for a hearing before a Nasdaq panel to review the determination.

The company's stock will continue to list on the SmallCap market, pending a final decision. If its shares are delisted, Notify Technology said it will attempt to list on the over-the-counter Bulletin Board.

The hearing should occur no later than 45 days from Thursday.

Notify Technology provides communications service and software for wireline and wireless notifcation and messaging services. The company had total current assets of $2.22 million and total assets of $2.45 million as of Dec. 31.

The company's shares closed the regular session at $2.25, up 13 cents or 5.9%.