RiT Applies to Transfer Its Listing to Nasdaq Small Cap Market

    TEL AVIV, Israel, Dec. 23 /PRNewswire-FirstCall/ -- RiT Technologies
 (Nasdaq:   RITT) (the "Company") today announced that it is applying to transfer
 its shares to the Nasdaq SmallCap Market from the Nasdaq National Market. The
 decision follows the Company's receipt of a Nasdaq Staff Determination on
 December 15, 2003, indicating that it no longer complies with the
 Shareholders' Equity Requirement for continued listing as set forth in
 Marketplace Rule 4450(a)(3).
     "In today's economy, many companies are facing listing requirement
 challenges," said Liam Galin, President and CEO of RiT Technologies. "On the
 SmallCap Market, our shares will continue to trade freely and maintain the
 same stock symbol. We will continue rebuilding our business, taking advantage
 of opportunities in both the Enterprise and Carrier markets, and may reapply
 for listing on the Nasdaq National Market in the future."
 
     About RiT Technologies
     RiT Technologies pioneered the development of intelligent physical layer
 management solutions, designed to provide superior control, utilization and
 maintenance of networks. RiT's innovative solutions help customers capitalize
 on network investments and reduce cost of ownership.
     RiT's Enterprise Solutions include PatchView(TM) for full web-based
 management, planning and troubleshooting of network physical layer
 connectivity, and SMART Cabling(TM) System components for single-source,
 end-to-end structured cabling solutions.
     PairView(TM) and PairQ(TM) Carrier Solutions help telcos capitalize on
 outside plant investments by giving them reliable, mass-verified and qualified
 infrastructure and connectivity databases.
     With a global sales network spanning 60 countries, RiT's key customers
 include major financial institutions, corporations and global
 telecommunications companies such as: Deutsche Telekom, Alcatel, TELMEX,
 TELENOR, The New York Mercantile Exchange (NYMEX), ING Barings, INVESCO,
 DIAGEO, Daewoo, and Reuters.
     RiT is a member of the RAD group, a world leader in communications
 solutions.  For more information, please visit our website: www.rittech.com
 
     Safe Harbor statement under the Private Securities Litigation Reform Act
 of 1995: This release contains forward looking statements that are subject to
 risks and uncertainties, including, but not limited to, the impact of
 competitive products and pricing, product demand and market acceptance, new
 product development, reliance on key strategic alliances, availability of raw
 materials, the regulatory environment, fluctuations in operating results and
 other risk and other risks detailed from time to time in the Company's filings
 with the Securities Exchange Commission.
      This press release is available at http://www.rittech.com/ and
 http://www.portfoliopr.com/
 
      Contact:
       Simona Green
       Financial Director
       +972-3-766-4249
       simonag@rit.co.il
 
       Portfolio PR
       Paul Holm/Jerry Cahn
       212-736-9224
       pholm@portfoliopr.com / jcahn@portfoliopr.com
 
 

SOURCE RiT Technologies

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.