Pixelplus Announces Receipt of Staff Determination Letter from Nasdaq

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 pixelplus@taylor-rafferty.com

SOURCE Pixelplus Co., Ltd.