Beacon Power Delisting Stayed by Nasdaq

October 20, 2003 [] Massachusetts-based solar energy inverter manufacturer Beacon Power, has been notified by the Nasdaq Stock Market that the Nasdaq Listing Qualifications Panel has determined that a continuation of the listing of the company’s securities on the Nasdaq SmallCap Market has been granted and that its stock will continue to be listed on the SmallCap Market until December 8, 2003. In addition, the Beacon Power has informed Nasdaq that it has made a commitment to seek shareholder approval for a reverse stock split on or before March 13, 2004, and thereafter to effect the split if necessary to comply with the Nasdaq’s listing requirement of a US$1.00 minimum bid price.
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