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Atari Faces NASDAQ Delisting

by Rainier on Sept. 1, 2006 @ 4:12 p.m. PDT

Atari received a Staff Determination Letter from the Nasdaq Listing Qualifications Department stating it's not in compliance with rules where common stock needs to maintain a $1.00 minimum bid price, and therefore is subject to delisting from The Nasdaq Global Market.

On March 3, 2005, the Nasdaq Listing Qualifications Department notified the Company that unless the bid price of our common stock closed at $1.00 per share or more for a minimum of 10 consecutive business days prior to August 30, 2006, the common stock would be subject to delisting. The price of the common stock did not reach that level.

Atari intends to request a hearing before a Nasdaq Listing Qualifications Panel and will submit its plan of compliance in connection with such hearing. The hearing request will stay the staff's determination and, as a result, the Company's securities will remain listed on The Nasdaq Global Market until the Panel issues its decision following the hearing (the date of which is not yet known).

Atari expects the hearing to be held in approximately 25 to 45 days. There can be no assurance that the Panel will grant the Company's request for continued listing on The Nasdaq Global Market.

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