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AEterna Zentaris Receives Notification from Nasdaq Relating to Minimum Bid Price
Date:10/24/2008

QUEBEC CITY, Oct. 24 /PRNewswire-FirstCall/ - AEterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ), a global biopharmaceutical company focused on endocrine therapy and oncology, today announced that it received a letter from the Nasdaq Stock Market, notifying AEterna Zentaris that during the 30 consecutive business days prior to October 16, 2008, the bid price of the Company's common shares had closed below the US$1.00 minimum bid per share required for continued inclusion on the Nasdaq Global Market under Marketplace Rule 4450(a)(5). However, the letter states that given the current extraordinary market conditions, Nasdaq has determined to suspend enforcement of the bid price and market value of publicly held shares requirements through Friday, January 16, 2009. In that regard, the letter states that on October 16, 2008, Nasdaq filed an immediately effective rule change with the Securities and Exchange Commission to implement the suspension. According to Nasdaq, these rules will be reinstated on Monday, January 19, 2009 and the first relevant trade date will be Tuesday, January 20, 2009.

Therefore, following the reinstatement of these rules, and in accordance with Marketplace Rule 4450(e)(2), AEterna Zentaris will be provided 180 calendar days from Tuesday, January 20, 2009, or until July 20, 2009, to regain compliance with the US$1.00 minimum bid per share under Marketplace Rule 4450(a)(5). If, at any time before July 20, 2009, including during the suspension period, the bid price of the Company's common shares closes at US$1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide written notification that AEterna Zentaris has achieved compliance with Marketplace Rule 4450(a)(5).

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