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MTI TECHNOLOGY REGAINED COMPLIANCE WITH NASDAQ

MTI Technology Corp, a leading provider of data storage solutions for more than two decades, recently announced that it has regained compliance with the $1 per share minimum closing bid price requirement for listing its common stock on the Nasdaq SmallCap Market.

The company received a letter from Nasdaq that compliance was achieved when the bid price closed at $1 per share or greater for at least 10 consecutive trading days.

As a result, the company's common stock will continue to be quoted in the Nasdaq SmallCap Market, so long as the company continues to satisfy the continued listing requirements, including maintaining a minimum bid price of $1 or greater, and not having such price fall below $1 for more than 30 consecutive trading days.