YAKUM, Israel, December 4 /PRNewswire-FirstCall/ -- Metalink Ltd. (NASDAQ:MTLK), today announced that on November 30, 2009, it received a NASDAQ Staff determination letter, notifying the Company that it has not complied with NASDAQ Marketplace Rule 5550(a)(2). In accordance with the Company's plan to regain compliance, the Company has requested its shareholders to authorize the Company's Board of Directors to effect a reverse share split of all of the Company's Ordinary Shares at a ratio not to exceed one-for-ten, in its annual shareholders' meeting scheduled to take place on December 29, 2009. The Company had initially been notified by NASDAQ on August 13, 2008, that the bid price of its common stock had closed at less than $1.00 per share over the previous 30 consecutive business days. NASDAQ suspended the enforcement of the bid price requirement from October 16, 2008 through July 31, 2009 and upon reinstatement of the rules the Company had until November 27, 2009, to regain compliance. On September 29, 2009 the Company received notice from the NASDAQ Staff that it no longer complied with the minimum $2,500,000 in stockholders' equity requirement. The Company timely submitted a plan to regain compliance with the equity requirement, however as the Company has not regained compliance with the minimum $1 bid price requirement the NASDAQ Staff has determined to delist its securities from the Capital Market. Accordingly, unless the Company requests an appeal of this determination, trading of its common stock will be suspended at the opening of business on December 9, 2009 and its common stock will be removed from listing and registration on The NASDAQ Stock Market. The Company intends to file the required appeal of the Staff's determination to a NASDAQ Hearings Panel ("Panel"), pursuant to the procedures set forth in the NASDAQ Marketplace Rule 5800 Series. A hearing request will stay the delisting of the Company's securities pending the Panel's decision. However, there can be no assurances that the Hearings Panel will grant such request. ABOUT METALINK Metalink Ltd. (NASDAQ:MTLK) is a fabless semiconductor Company engaged in the research, development and sale of high-throughput wireless local area network (WLAN) chipsets, and in the sale of high performance broadband access chip sets or digital subscriber line (DSL) used by telecommunications and networking equipment manufacturers. Metalink's WLANPLUS(TM) is a high-throughput, 802.11n-draft-compliant wireless LAN technology optimized for the networked home entertainment environment. Featuring advanced MIMO technology and full support of QoS, and operating in both 2.4GHz and 5GHz bands, WLANPLUS enables multi-room networking of multiple high-definition video streams. Further information is available at http://www.mtlk.com/ SAFE HARBOR STATEMENT This press release contains "forward looking statements" within the meaning of the United States securities laws. Words such as "aim," "expect," "estimate," "project," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believe," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to: in light of our cash status, our inability to raise additional funds or enter into other strategic transactions on a timely basis may lead us to insolvency; our inability to regain compliance with NASDAQ'S requirements for continued listing; any unforeseen developmental or technological difficulties with regard to our products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; and the impact on revenues of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism. Additional factors that could cause actual results to differ materially from these forward-looking statements are set forth from time to time in Metalink's filings with the SEC, including Metalink's Annual Report in Form F-20. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law, the Company undertakes no obligation to republish or revise forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. The Company cannot guarantee future results, events, and levels of activity, performance, or achievements. Contact: Yuval Ruhama CFO Metalink Ltd. Tel: +972-9-9605555 Fax: +972-9-9605544 DATASOURCE: Metalink Ltd CONTACT: Contact: Yuval Ruhama, CFO, Metalink Ltd., Tel: +972-9-9605555, Fax: +972-9-9605544,

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