MONTREAL, Feb. 4 /PRNewswire-FirstCall/ -- Sand Technology Inc. ("Sand")(Nasdaq: SNDT) announced that on January 29, 2003, it received notice of a determination by Nasdaq's Listing Qualifications Staff that Sand failed to comply with the minimum bid price and stockholders' equity requirements for continued listing set forth in Marketplace Rules 4450(a)(5) and 4450(a)(3) and that Sand's Class A common shares were therefore subject to delisting from the Nasdaq National Market System. Sand has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff's determination. The request stays the delisting of the Class A common shares pending a decision by the Nasdaq Panel. There can be no assurance that the Nasdaq Panel will grant Sand's request for continued listing on the National Market System. About Sand Technology Sand Technology helps leading organizations across North America and Europe cope with data overload, by giving them rapid access to the information they need to make the right business decisions. Sand's solutions include CRM analytics, web analytics, and other analytical applications for government and security, healthcare, supply chain management, inventory & production optimization, financial analysis, and strategic planning. Sand Technology has offices in the United States, Canada, the United Kingdom and Central Europe, and is traded on Nasdaq under the symbol SNDT. For more information on Sand Technology visit www.sand.com Sand Technology, Nucleus, Nucleus Server, N: VECTOR, Nucleus Exploration Warehouse, Nucleus Exploration Mart, Nucleus Exploration Data Warehouse, Nucleus Octopus and MPSO are registered trademarks and, Nucleus Virtual Database (VDB), Nucleus Powered!, Nucleus E!, Nucleus Adviser, Sand Analytic Server, Sand Analytic Warehouse, Analytics @ the Speed of Business, and ClarityBlue are trademarks of Sand Technology Inc. Other trademarks are the property of their respective owners. Certain statements contained in this press release are "forward-looking statements" within the meaning of the United States Private Securities Reform Act of 1995 and are intended to be subject to the safe harbour protection provided by this Act. Such forward-looking statements are based on reasonable assumptions and current expectations, but involve known and unknown risks and uncertainties. Some assumptions may not materialize and unanticipated events may occur which could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Competitive pressures, availability and cost competitiveness of competing products, timing of significant orders, management of potential growth, risks of new business areas, international expansion, decreased demand for computer software and services due to weakening economic conditions and market acceptance of the Sand Nucleus Product Suite are important factors which could cause actual results to differ materially from those projected. More information about factors that potentially could affect Sand's financial results is included in Sand's current Annual Report and in Sand's reports to the Securities and Exchange Commission.
SOURCE Sand Technology