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XTL to Appeal NASDAQ Staff Determination; XTL May Transfer its ADR Listing to the NASDAQ Capital Market
Date:9/26/2007

VALLEY COTTAGE, New York, September 26 /PRNewswire-FirstCall/ -- XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB; LSE: XTL; TASE: XTL) today announced that on September 24, 2007, the Company received a NASDAQ Staff Determination indicating that the Company fails to comply with the minimum $10 million shareholders' equity requirement for continued listing on the NASDAQ Global Market as set forth in Marketplace Rule 4450(a)(3), and that its ADRs are, therefore, subject to delisting from the NASDAQ Global Market. On August 28, 2007, the Company previously disclosed the receipt of a Staff Letter from NASDAQ, regarding this deficiency in shareholders' equity.

The Company has requested a hearing before a NASDAQ Listing Qualifications Panel to review the Staff Determination. A hearing request will stay the suspension of the Company's ADRs from the NASDAQ Global Market pending the Panel's decision. There can be no assurance that the Panel will grant the Company's request for continued listing. If the Panel does not grant the Company's request for continued listing, the Company has the option to transfer its ADR listing to the NASDAQ Capital Market, previously called the NASDAQ SmallCap Market.

The NASDAQ Capital Market is a continuous trading market that operates in the same manner as The NASDAQ Global Market. The NASDAQ Capital Market is not related to, nor does it operate similarly to the over-the-counter markets including the OTCBB and Pink Sheets. Should the Company transfer its ADR listing to The NASDAQ Capital Market, its trading symbol on NASDAQ would remain "XTLB," and the Company does not expect any interruption in the trading of its ADRs.

The NASDAQ Capital Market includes over 500 issuers of a wide rang
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SOURCE XTL Biopharmaceuticals Ltd
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