PXPL Pixelplus CO Ltd (MM)

SEOUL, South Korea, July 29 /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 it received approval from The Nasdaq Stock Market's Listing Qualifications Staff to transfer the listing of its American Depositary Shares from The Nasdaq Global Market to The Nasdaq Capital Market. The transfer is effective at the opening of business on July 30, 2008. Pixelplus' Nasdaq trading symbol will remain "PXPL." The Nasdaq Capital Market is one of the three market tier designations for stocks listed on the Nasdaq Stock Market and presently includes approximately 500 companies. The Nasdaq Capital Market operates in substantially the same manner as The Nasdaq Global Market. Securities listed on The Nasdaq Capital Market must satisfy all applicable qualification requirements for Nasdaq securities and all companies listed on The Nasdaq Capital Market must satisfy certain financial requirements and adhere to Nasdaq's corporate governance standards. The Nasdaq Capital Market is not related to, nor does it operate similarly to over-the-counter markets, including the OTCBB and Pink Sheets. The listing transfer is part of the Company's action taken in response to the notification received from the Nasdaq Listing Qualifications Staff on July 22, 2008 regarding Pixelplus' non-compliance with the minimum $10,000,000 stockholders' equity requirement for continued listing on The Nasdaq Global Market pursuant to Nasdaq Marketplace Rule 4450(a)(3). As of March 31, 2008, the Company's stockholder equity was $8,433,000, which satisfies the minimum stockholders' equity requirement for listing on The Nasdaq Capital Market. 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 system 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. Contact: Shane Y. Hong Pixelplus Co., Ltd. 6th Floor, Gyeonggi R&DB Center 906-5 Iui-dong, Yeongtong-gu Suwon-si, Gyeonggi-do, 443-766 Republic of Korea +82-31-888-5300 OR Taylor Rafferty: London - Emilia Whitbread at +44 (0) 20 7614 2900 New York - Jessica McCormick at +1 212 889 4350 Tokyo - Jason Wagers at +81 (0) 3 3221 9513 E-mail DATASOURCE: Pixelplus Co., Ltd. CONTACT: Shane Y. Hong of Pixelplus Co., Ltd., +82-31-888-5300; or Taylor Rafferty: London, Emilia Whitbread, +44(0)20-7614-2900, or New York, Jessica McCormick, +1-212-889-4350, or Tokyo, Jason Wagers, +81(0)3-3221-9513, all for Pixelplus Co., Ltd.,

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