PSIT Psi Tech Hldgs (MM)

MANILA, Philippines, Sept. 18 /PRNewswire-FirstCall/ -- PSi Technologies Holdings, Inc. (the "Company"), (NASDAQ:PSIT), an independent provider of assembly and test services for the power semiconductor market, announced that today it has withdrawn its request for a hearing before a Nasdaq Hearing Panel concerning its possible delisting from The Nasdaq Capital Market. In this regard, the Company determined that it was unlikely the Company would be in a position to regain and maintain compliance with requirements for continued listing on The Nasdaq Capital Market. The Company expects it will be delisted from The Nasdaq Capital Market within several days. After delisting from Nasdaq, the Company's outstanding American Depositary Shares ("ADSs") are expected to be quoted, subject to the interest of market makers, in the Pink Sheets. Pink Sheets is a centralized quotation service that collects and publishes market-maker quotes for over-the-counter securities. About PSi Technologies PSi Technologies is a focused independent semiconductor assembly and test service provider to the power semiconductor market. The Company provides comprehensive package design, assembly and test services for power semiconductors used in telecommunications and networking systems, computers and computer peripherals, consumer electronics, electronic office equipment, automotive systems and industrial products. For more information, visit the Company's website at http://www.psitechnologies.com/ or call: At PSi Technologies Holdings, Inc.: At Financial Relations Board: Larry Cajucom Lasse Glassen (63 2) 838 4489 (213) 486 6546 This press release contains "forward-looking statements," as the phrase is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements relate to the Company's expectation that its ADSs will be available for trading on the Pink Sheets. While these forward-looking statements represent the Company's current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described under the heading "Risk Factors" in the Company's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission ("SEC"), which may be revised or supplemented in subsequent reports furnished to the SEC. These factors include, but are not limited to, the pace of development and market acceptance of the Company's products and the power semiconductor market generally, commercialization and technological delays or difficulties, the impact of competitive products and technologies, competitive pricing pressures, manufacturing risks, the possibility of our products infringing patents and other intellectual property of third parties, product defects, costs of product development, manufacturing and government regulation, risks inherent in emerging markets, including but not limited to, currency volatility and depreciation, restricted access to financing and political and social unrest and the possibility that the initiatives described herein may not produce the intended results. The Company undertakes no responsibility to update these forward-looking statements to reflect events or circumstances after the date hereof. DATASOURCE: PSi Technologies Holdings, Inc. CONTACT: Larry Cajucom of PSi Technologies Holdings, Inc., (63 2) 838 4489, ; or Lasse Glassen of Financial Relations Board, +1-213-486-6546, , for PSi Technologies Holdings, Inc. Web site: http://www.psitechnologies.com/

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