ASTT Asat Hldg Ltd American Dep (MM)

HONG KONG and MILPITAS, Calif., Oct. 22 /PRNewswire-FirstCall/ -- ASAT Holdings Limited (NASDAQ:ASTT) (the "Company" or "ASAT"), a global provider of semiconductor package design, assembly and test services, previously announced on September 21, 2007 that the Company received a Nasdaq Staff Determination letter dated September 17, 2007, indicating that the Company's market value of listed securities had been below $35,000,000 as required for continued inclusion by Marketplace Rule 4320(e)(2)(B) (the "Rule") and that its American Depositary Shares ("ADSs") were, therefore, subject to delisting. (Logo: http://www.newscom.com/cgi-bin/prnh/20030414/ASATLOGO ) On September 24, 2007, ASAT requested an appeal hearing before a Nasdaq Listing Qualifications Panel (the "Panel") to avoid delisting. ASAT subsequently appealed to the Panel and provided information and other communication to the Panel. On October 17, 2007, ASAT was informed by the Panel that the Company had regained compliance with the $35,000,000 market value requirement. As a result, the appeal hearing will be moot and cancelled, and ASAT's ADSs shall remain listed on The Nasdaq Capital Market. About ASAT Holdings Limited ASAT Holdings Limited is a global provider of semiconductor package design, assembly and test services. With 18 years of experience, the Company offers a definitive selection of semiconductor packages and world-class manufacturing lines. ASAT's advanced package portfolio includes standard and high thermal performance ball grid arrays, leadless plastic chip carriers, thin array plastic packages, system-in-package and flip chip. ASAT was the first company to develop moisture sensitive level one capability on standard leaded products. Today the Company has operations in the United States, Asia and Europe. For more information, visit http://www.asat.com/. Safe Harbor This news release contains statements and information that involve risks, uncertainties and assumptions. These statements and information constitute "forward-looking statements" within the meaning of federal securities laws including Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Such forward-looking statements, including statements regarding compliance with Nasdaq listing requirements, involve known and unknown risks, uncertainties, assumptions and other factors that could cause the actual performance, financial condition or results of operations of ASAT Holdings Limited to differ materially from those expressed or implied in any forward- looking statement. Investors are cautioned that actual events and results could differ materially from those contained in these statements as a result of a variety of factors, including conditions in the overall semiconductor market and economy, the need for additional funding and the risk that financing may not be obtained, our progress in ramping our new China facility, acceptance and demand for the Company's products and services, operational and technological risks and revisions to the preliminary unaudited financial results which may occur during preparation of financial statements and disclosures. The risks, uncertainties and other factors also include, among others, our ability to successfully implement our diversification strategy and our long-term growth strategy, our ability to continue to realize operational efficiencies and improvements to our cost structure, our ability to obtain additional new financing, the possible delisting of the Company's securities from Nasdaq, and those risks, uncertainties, assumptions and other factors stated in the section entitled "Risk Factors" in our Annual Report on Form 20- F filed with the United States Securities and Exchange Commission on October 15, 2007 and the section entitled "Risk Factors" in our quarterly reports on Form 6-K filed with the United States Securities and Exchange Commission. The forward-looking statements in this release reflect the current beliefs and expectations of the Company as of this date, and the Company undertakes no obligation to update these projections and forward-looking statements to reflect actual results or events or circumstances that occur after the date of this news release. http://www.newscom.com/cgi-bin/prnh/20030414/ASATLOGO http://photoarchive.ap.org/ DATASOURCE: ASAT Holdings Limited CONTACT: Jim Fanucchi of Summit IR Group Inc., +1-408-404-5400, Web site: http://www.asat.com/

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