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deCODE Requests Hearing With Nasdaq Following Receipt of Staff Determination Letter
Date:11/4/2008

REYKJAVIK, Iceland, November 4 /PRNewswire-FirstCall/ -- deCODE genetics (Nasdaq:DCGN) today announced today that it has requested a hearing before a Nasdaq Listing Qualifications Panel to present a plan for regaining compliance with Nasdaq Marketplace Rule 4450(b)(1)(A), which requires a minimum market value of listed securities of $50 million. On October 31, 2008, deCODE received a Staff Determination Letter from The Nasdaq Stock Market LLC indicating that the Company had not regained compliance with this rule during the time period provided by Nasdaq in a previous notice as disclosed in the Company's press release dated October 6, 2008, and therefore its Common Stock is subject to delisting from The Nasdaq Global Market at the opening of business on November 11. Following the hearing request, the Company's common stock will continue to be listed on The Nasdaq Global Market pending the conclusion of the hearing process and during any extension period which may be granted by the Panel. It is expected that the hearing would be held within 45 days. The Panel has discretion to grant an extension not to exceed 180 days from the date of the Staff notification for the Company to regain compliance with applicable listing standards. There can be no assurance that the Panel will grant the Company's request for continued listing.

Alternatively, the Company may apply to transfer its securities to The Nasdaq Capital Market if it satisfies the continued inclusion requirements for that market, which include a minimum aggregate market value of listed securities of $35 million.

As of October 31, 2008, the Company had 61,848,584 shares of common stock outstanding, which would result in a market value of listed securities of $26.6 million ba
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SOURCE deCODE genetics Inc
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