The decision was reached in view of the fact that the Company is a late filer. Also, the Company was under review by NYSE Regulation in light of the delay in filing with the Securities and Exchange Commission its December 31, 2005 Form 10-K and certain of its 2006 Form 10-Q filings.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of NYSE Regulation staff’s decision. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.
Jennifer Chelune, Investor Relations
See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting