PXPL Pixelplus CO Ltd (MM)

SEOUL, South Korea, Dec. 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 the Company received a Staff Determination letter from Nasdaq on December 23, 2008 indicating that the Company is failing to comply with the minimum $2,500,000 stockholders' equity requirement for continued listing set forth in Marketplace Rule 4320(e)(2)(B), and that its securities are, therefore, subject to delisting from The Nasdaq Capital Market. In response, the Company has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. There can be no assurance the Panel will grant the Company's request for continued listing. Pixelplus will issue a separate announcement as and when further developments unfold in connection with its request specified above. 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. 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 - Jiro Kawakami 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, Jiro Kawakami, +81(0)3-3221-9513, all for Pixelplus Co., Ltd.,

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