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NYSE to Suspend, Apply to Delist, Novastar Financial, Inc.
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NEW YORK, January 11, 2008 – NYSE Regulation Inc. (“NYSE Regulation”) announced today that the common stock of NovaStar Financial, Inc. (the "Company") – ticker symbol NFI – and its 8.90% Series C Cumulative Redeemable Preferred Stock – ticker symbol NFI PR C – will be suspended prior to the opening on Thursday, January 17, 2008.
NYSE Regulation had previously announced on October 17, 2007 that it determined that the Company’s securities should be removed from the list. The Company requested a review of this determination by a Committee of the Board of Directors of NYSE Regulation that was held on Tuesday, December 5, 2007. The Committee affirmed the NYSE Regulation staff decision that the Company should be delisted. Following suspension, application will be made to the Securities and Exchange Commission to delist the Company’s common and preferred issues.
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.
Company contact:
Rodney Schwatken
816-237-7532
See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting
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