Sand Appeals Nasdaq Delisting Notice

Feb 04, 2003, 00:00 ET from Sand Technology

    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
     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

SOURCE Sand Technology