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Interleukin Genetics Receives Notification of Failure to Meet Continued Listing Standard Section 1003(a)(iii)
Date:12/26/2008

WALTHAM, Mass., Dec. 26 /PRNewswire-FirstCall/ -- Interleukin Genetics, Inc. (NYSE Alternext US: ILI) announced today, that on December 23, 2008 the Company received notice from the NYSE Alternext US LLC (the "the Exchange") indicating that the Company is not in compliance with certain conditions of the Exchange's continued listing standards under Section 1003 of the Company Guide. Specifically, the Exchange noted the Company's failure to comply with Section 1003(a)(iii) of the Company Guide because its stockholders' equity is less than $6,000,000 and it has had losses from continuing operations and net losses in its five most recent fiscal years. The notice was based on a review by the Exchange of publicly available information, including the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2008. As of September 30, 2008, the Company's stockholders' equity was approximately $5.9 million. Upon receipt of notice from the Exchange, the Company is subject to the procedures and requirements of Section 1009 of the Company Guide.

The Company is entitled to submit a plan of compliance to the Exchange by January 23, 2009 advising the Exchange of the actions the Company has taken, or will take, that would bring it into compliance with the continued listing standards identified above by June 23, 2010. If the Exchange accepts the plan, then the Company may be able to continue its listing during the plan period up to June 23, 2010, during which time the Company will be subject to periodic review to determine whether it is making progress consistent with the plan.

If the Company fails to submit such a plan, the plan is not accepted, the Company does not make progress toward compliance consistent with the plan, or is not in compliance at the end of the plan period, then the Company may be subject to delisting proceedings by the Exchange. There can be no assurance that the Exchange staff will accept the Compan
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SOURCE Interleukin Genetics, Inc.
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