Lizhan Environmental Receives Nasdaq Notification of Non-Compliance with Minimum Bid Price Rule

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Lizhan Environmental Corporation (Nasdaq: LZEN) announced today that the Company received two letters, dated October 11, 2011 and October 12, 2011, from The Nasdaq Stock Market stating that for the previous 30 consecutive business days, the bid price of the Company's ordinary shares closed below the minimum $1.00 per share and the market value of the Company's publicly held ordinary shares was below the minimum of $5,000,000, both requirements for continued listing on the Nasdaq Global Market pursuant to Nasdaq Marketplace Rules 5450(a)(1) and 5450(b)(1), respectively. The Nasdaq letters have no immediate effect on the listing of the Company's ordinary shares.

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