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(July 9, 2001) -- Ad network 24/7 Media, New York, intends to request a hearing to appeal a Nasdaq Staff Determination that the company no longer complies with the $1 minimum bid price requirement for continued listing on the Nasdaq.

24/7 received a letter dated July 6 stating that its stock will be delisted July 16 unless the company requests a hearing by July 13. Under Nasdaq rules, the stock will remain listed pending the outcome of the hearing, which is expected to be held within 45 days of the date that the request is filed. 24/7 Media intends to request an extension of the time to raise its share price. -- Adrienne Mand

Copyright July 2001, Crain Communications Inc.

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