Kingtone Wirelessinfo Solution Holding Receives NASDAQ Notification of Non-Compliance with Minimum Bid Price Rule

Kingtone Wirelessinfo Solution Holding Ltd KONE today announced that it has received a letter from the Nasdaq Stock Market indicating that based on the Company's closing bid price for the last 30 consecutive business days, the Company no longer meets the $1.00 minimum bid price requirement as set forth in Nasdaq Listing Rule 5550(a)(2). The Nasdaq letter has no immediate effect on the listing of Kingtone's American Depositary Shares at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), Kingtone has been provided a grace period of 180 calendar days, or until June 18, 2012, to regain compliance by maintaining a minimum closing bid price of $1.00 per share for a minimum of 10 consecutive business days. Accordingly, if at any time before June 18, 2012, the bid price of the Company's ADSs closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will notify the Company that it has regained compliance with the Minimum Bid Price Rule.