NYSE Makes Temporary Lowering Of Market Capitalization Requirement To Help Firms Remain Listed

The New York Stock Exchange will lower temporarily the minimum standard of Section 802.01B in the Exchange's Listed Company. Through 22 April 2009 this provision will apply only to companies whose average global market capitalization over a consecutive 30 trading

By None

The New York Stock Exchange will lower temporarily the minimum standard of Section 802.01B in the Exchange’s Listed Company. Through 22 April 2009 this provision will apply only to companies whose average global market capitalization over a consecutive 30 trading-day period falls below $15 million.

Due to recent extreme volatility in the market average market capitalization of the companies listed on the Exchange has fallen below $25 million over a 30 trading-day period.

The Exchange believes that, in many cases, these companies have experienced precipitous stock price declines because of these unusual market conditions, rather than company-specific problems. The Exchange believes that these companies remain suitable for continued listing and that their market capitalizations will likely increase as the current market turbulence passes.

While the Exchange’s filing submitted to the U.S. Securities and Exchange Commission (SEC) in connection with the adoption of this rule change is immediately effective, it is subject to a 30-day operative delay under SEC rules. The Exchange has asked the SEC to waive the operative delay and expects the SEC to take prompt action to effectuate that waiver.

L.D.

«