Press ReleaseSource: Channell Commercial Corporation

Channell Receives Nasdaq Deficiency Notice Related to Market Value of Publicly Held Shares; Granted 90-Day Cure Period
Wednesday September 24, 2008 2:00 pm ET

TEMECULA, CA--(MARKET WIRE)--Sep 24, 2008 -- Channell Commercial Corporation (CHNL - News), a designer and manufacturer of telecommunications equipment supplied to operators of communications networks worldwide and water harvesting solutions distributed in markets throughout Australia and North America, announced that on September 22, 2008 the Company received a letter from the Nasdaq Stock Market ("Nasdaq") notifying the Company that it no longer complies with Nasdaq Marketplace Rule 4450(a)(2) ("MVPHS Rule"), which requires a minimum market value of publicly held shares ("MVPHS") of $5 million, as a result of the MVPHS of the common stock of the Company having been below $5 million for the 30 consecutive business days prior to the date of the letter. In accordance with Marketplace Rule 4450(e)(1), the Company will be provided 90 calendar days, or until December 22, 2008, to regain compliance with the MVPHS Rule. The deficiency letter has no effect on the listing of the Company's common stock at this time, and its shares will continue to trade on The Nasdaq Global Market under the symbol "CHNL."

If at any time before December 22, 2008, the MVPHS of the Company's common stock is $5 million or greater for a minimum of 10 consecutive trading days, Nasdaq will notify the Company that it has achieved compliance with the MVPHS Rule. If the Company does not regain compliance with the MVPHS Rule by December 22, 2008, Nasdaq will notify the Company that its common stock will be delisted from The Nasdaq Global Market. In the event that the Company receives notice that its common stock is being delisted from The Nasdaq Global Market, Nasdaq rules permit the Company to appeal any delisting determination by the Nasdaq staff to a Listing Qualifications Panel. Alternatively, Nasdaq may permit the Company to transfer its common stock to The Nasdaq Capital Market if it satisfies the continued inclusion requirements for that market. If the Company submits a transfer application and pays the applicable listing fees by December 22, 2008, the initiation of the delisting proceedings will be stayed pending Nasdaq's review of the application.

About Channell

Channell Commercial Corporation is a designer and manufacturer of telecommunications equipment supplied to communications network operators worldwide and water harvesting solutions distributed in markets throughout Australia and North America. Major product lines include a complete line of thermoplastic and metal fabricated enclosures, advanced copper termination and connectorization products, fiber-optic cable management systems and polyethylene water storage tanks. The Company's headquarters and U.S. manufacturing facilities are in Temecula, California. International operations include facilities in Toronto (Canada), London (U.K.) and various locations throughout Australia. The Company's website is www.channell.com

Forward-Looking Statements

This news release contains statements that are not historical in nature and that may be characterized as "forward-looking statements" within the meaning of the securities laws. These statements are based on management's current expectations, are neither promises nor guarantees, and are subject to a number of uncertainties and risks that could cause a failure to comply with these forward-looking statements. For a detailed discussion of such risks and uncertainties, please see the Company's filings with the Securities and Exchange Commission, which you are encouraged to review in connection with this release. You should not place undue reliance on any such forward-looking statements in this press release, which are current only as of the date when made, and you should not expect that these forward-looking statements will be updated or supplemented as a result of changing circumstances or otherwise.


Contact:
     CONTACT:
     At the Company:
     Michael Perica
     Treasurer
     951-719-2600
     Email Contact
      

Source: Channell Commercial Corporation


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