Seven Arts Announces 180-Day Extension of Time to Meet NASDAQ $1 Bid Price Requirement

Seven Arts Entertainment Inc. (NASDAQ:

) announced today that it received a letter from The NASDAQ Stock Market LLC approving the Company's request for a 180-day extension of time to regain compliance with the NASDAQ bid price requirement by demonstrating a closing bid price for its common stock of $1 or more for at least ten consecutive trading days. The new compliance period will expire on September 20, 2012.