Hispanic Television Network Receives Nasdaq Delisting Letter.

Hispanic Television Network announced that it has received a Nasdaq Staff Determination Letter regarding its status with the Nasdaq.

The Staff Determination letter dated May 17, 2001 indicates that the Company does not comply with the net tangible asset and minimum bid price requirements for continued listing set forth in the Marketplace Rules and that its securities are, therefore, subject to delisting from the Nasdaq National / Small Cap Market.

Because the company believes that recent, previously announced agreements will greatly enhance its operating performance and lead to further stability in its distribution plan, the company has requested an oral hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination. There can be no assurance the Panel will grant the Company’s request for continued listing.

“We have done many positive things to right our course and reduce our losses in a difficult market,” said HTVN Chairman Jim Ryffel. “We are proving the viability of our business model by increasing revenue and rapidly expanding our distribution in both station and cable agreements. ”

He added, “The irony is that HTVN is a much better company today than it was a year ago, when there were no questions regarding our listing on Nasdaq.”

HTVN further stated, “We are appealing the determination and requesting a hearing before the Nasdaq Listing Qualifications Panel. No date for a hearing has been set. Nasdaq will not delist the company’s stock while the appeal is pending.”

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