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WorldHeart Receives Non-Compliance Letter From NASDAQ Stock Market
Date:7/1/2008

WorldHeart Announces Resignation of Chief Financial Officer

OAKLAND, Calif., July 1 /PRNewswire-FirstCall/ -- (Nasdaq: WHRT) -- World Heart Corporation ("WorldHeart" or the "Corporation") announced today that, on June 25, 2008, WorldHeart received a notice from the NASDAQ Stock Market stating that the Corporation does not comply with Marketplace Rule 4310(c)(7)(A) (the "Rule"). This rule requires the Corporation to maintain a minimum market value of publicly held shares ("MVPHS") of $1,000,000. Therefore, in accordance with Marketplace Rule 4310(c)(8)(B), the Corporation will be provided 90 calendar days, or until September 23, 2008, to regain compliance. If, at any time before September 23, 2008, the MVPHS of the Corporation's common shares are $1,000,000 or more for a minimum of 10 consecutive trading days, Staff will provide a written notification that the Corporation complies with the Rule. If compliance with this Rule cannot be demonstrated by September 23, 2008, Staff will provide a written notification that the Company's securities will be delisted. At that time, the Corporation may appeal Staff's determination to a Listing Qualifications Panel.

Separately, effective July 1, 2008, WorldHeart announced that David Pellone has resigned as an employee of the Corporation, but will continue as a consultant to the Corporation until approximately September 30, 2008. As approved by WorldHeart's Board of Directors, Mr. Pellone will be acting Vice President, Finance and Chief Financial Officer during his time as a consultant. The Corporation will commence the process to find a new Chief Financial Officer to allow for a smooth transition. The WorldHeart Board and Jal S. Jassawalla, WorldHeart's President and Chief Executive O
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SOURCE World Heart Corporation
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