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Sunrise Telecom Delisted

Sunrise Telecom has received a notice from Nasdaq that shares of its common stock will no longer be eligible for quotation

December 15, 2005

2 Min Read

SAN JOSE, Calif. -- Sunrise Telecom(R) Incorporated (Nasdaq: SRTI), today announced that it has received a notice from The Nasdaq Stock Market that shares of its common stock will no longer be eligible for quotation on The Nasdaq Stock Market effective at the start of business on Friday, December 16, 2005 for failure to comply with Nasdaq Marketplace Rule 4310(c)(14). Following the removal from Nasdaq, the company expects that its common stock will remain publicly traded and will be quoted in the Pink Sheets.

Sunrise Telecom President and CEO, Paul Chang, said, "Delisting does not impact our daily operations, our strategic plans, or our customer relationships. Our management team remains focused on running the business."

As previously reported, on November 22, 2005, Sunrise Telecom received a delisting notice from Nasdaq because the company was not timely in filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2005 and, therefore, was not in compliance with Nasdaq Marketplace Rule 4310(c)(14). The company appealed Nasdaq's decision and was granted a hearing before a Nasdaq Listing Qualifications Panel scheduled for December 15, 2005. On December 13, 2005, the company notified Nasdaq and the Panel that it had decided to withdraw its request for the hearing.

Sunrise Telecom withdrew its hearing request primarily because the Audit Committee's ongoing internal investigation into certain issues and transactions at Sunrise Telecom Korea makes it impossible to know exactly when the company will be able to file required financial statements and other documents with the Securities and Exchange Commission that are necessary for Nasdaq listing. Therefore, Sunrise Telecom does not believe that the company can present a plan that it is confident would bring it into compliance with Nasdaq Marketplace Rule 4310(c)(14) within the time period contemplated by Marketplace Rule 4802(b).

Sunrise Telecom Inc.

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