Imperial Credit Industries Reports Nasdaq Notice of Intended Delisting

Apr 24, 2001, 01:00 ET from Imperial Credit Industries, Inc.

    TORRANCE, Calif., April 24 /PRNewswire Interactive News Release/ --
 Imperial Credit Industries, Inc. (Nasdaq:   ICII) reported that it had received
 a notice of intended delisting from Nasdaq.
 
     Nasdaq Notice of Intended Delisting
     On April 20, 2001, the Company received a Nasdaq Staff Determination that
 the Company fails to comply with the minimum bid price requirement for
 continued listing set forth in the Nasdaq Marketplace rules, and that its
 securities are, therefore, subject to delisting from the Nasdaq National
 Market.  The Company has filed its request for a hearing before the Nasdaq
 Listing Qualifications Panel to review the Staff Determination, and will
 present the Panel with the Company's recapitalization plan.  There can be no
 assurance that Qualifications Panel will grant the Company's request for
 continued listing.  Pending the final decision of the Qualifications Panel,
 the Company's securities will continue to trade on the Nasdaq National Market.
 
     General Description of the Company
     Imperial Credit Industries, Inc., a diversified financial services holding
 company, was formed in 1991 and is headquartered in Torrance, California.  The
 Company's major business activities are primarily conducted through Southern
 Pacific Bank, a wholly owned subsidiary.  The Company also owns an equity
 interest in Imperial Capital Group, LLC (approximately 38% ownership).
 Imperial Credit Industries, Inc. and its subsidiaries and affiliates offer a
 wide variety of financial services, investment products, and asset management
 services.
 
     Safe Harbor Statement
     Certain statements contained herein are "forward-looking statements"
 within the meaning of the Private Securities Litigation Reform Act of 1995,
 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
 Securities Exchange Act of 1934, as amended.  These forward-looking statements
 may be identified by reference to a future period(s) or by the use of forward-
 looking terminology, such as "may," "will," "intend," "should," "expect,"
 "anticipate," "estimate" or "continue" or the negatives thereof or other
 comparable terminology.  The Company's actual results could differ materially
 from those anticipated in such forward-looking statements due to a variety of
 factors.  These factors include but are not limited to: the demand for our
 products; competitive factors in the businesses in which we compete; adverse
 changes in the securities markets; inflation and changes in the interest rate
 environment that reduce margins or the fair value of financial instruments;
 changes in national, regional or local business conditions or economic
 environments; government fiscal and monetary policies; legislative or
 regulatory changes that affect our business; factors inherent in the valuation
 and pricing of commercial loans; other factors generally understood to affect
 the value of commercial loans and commercial real estate; and the other risks
 detailed in the Company's 8-K dated May 17, 1999 as filed with the Securities
 and Exchange Commission (the "SEC"); periodic reports on Forms 10-Q, 8-K and
 10-K and any amendments with respect thereto filed with the SEC; and other
 filings made by the Company with the SEC.
 
     ICII's news releases are available at no charge through PR Newswire's
 Company News on Call by dialing (800) 758-5804 Ext. 420763.  Additional
 corporate information relating to the Company's SEC filings and corporate news
 releases are available on the internet.  The web site address is
 http://www.icii.com.
 
     For further information contact: Brad Plantiko/CFO 310-791-8096 or Karen
 Montandon/IR 310-791-8022.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X17979067
 
 

SOURCE Imperial Credit Industries, Inc.
    TORRANCE, Calif., April 24 /PRNewswire Interactive News Release/ --
 Imperial Credit Industries, Inc. (Nasdaq:   ICII) reported that it had received
 a notice of intended delisting from Nasdaq.
 
     Nasdaq Notice of Intended Delisting
     On April 20, 2001, the Company received a Nasdaq Staff Determination that
 the Company fails to comply with the minimum bid price requirement for
 continued listing set forth in the Nasdaq Marketplace rules, and that its
 securities are, therefore, subject to delisting from the Nasdaq National
 Market.  The Company has filed its request for a hearing before the Nasdaq
 Listing Qualifications Panel to review the Staff Determination, and will
 present the Panel with the Company's recapitalization plan.  There can be no
 assurance that Qualifications Panel will grant the Company's request for
 continued listing.  Pending the final decision of the Qualifications Panel,
 the Company's securities will continue to trade on the Nasdaq National Market.
 
     General Description of the Company
     Imperial Credit Industries, Inc., a diversified financial services holding
 company, was formed in 1991 and is headquartered in Torrance, California.  The
 Company's major business activities are primarily conducted through Southern
 Pacific Bank, a wholly owned subsidiary.  The Company also owns an equity
 interest in Imperial Capital Group, LLC (approximately 38% ownership).
 Imperial Credit Industries, Inc. and its subsidiaries and affiliates offer a
 wide variety of financial services, investment products, and asset management
 services.
 
     Safe Harbor Statement
     Certain statements contained herein are "forward-looking statements"
 within the meaning of the Private Securities Litigation Reform Act of 1995,
 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
 Securities Exchange Act of 1934, as amended.  These forward-looking statements
 may be identified by reference to a future period(s) or by the use of forward-
 looking terminology, such as "may," "will," "intend," "should," "expect,"
 "anticipate," "estimate" or "continue" or the negatives thereof or other
 comparable terminology.  The Company's actual results could differ materially
 from those anticipated in such forward-looking statements due to a variety of
 factors.  These factors include but are not limited to: the demand for our
 products; competitive factors in the businesses in which we compete; adverse
 changes in the securities markets; inflation and changes in the interest rate
 environment that reduce margins or the fair value of financial instruments;
 changes in national, regional or local business conditions or economic
 environments; government fiscal and monetary policies; legislative or
 regulatory changes that affect our business; factors inherent in the valuation
 and pricing of commercial loans; other factors generally understood to affect
 the value of commercial loans and commercial real estate; and the other risks
 detailed in the Company's 8-K dated May 17, 1999 as filed with the Securities
 and Exchange Commission (the "SEC"); periodic reports on Forms 10-Q, 8-K and
 10-K and any amendments with respect thereto filed with the SEC; and other
 filings made by the Company with the SEC.
 
     ICII's news releases are available at no charge through PR Newswire's
 Company News on Call by dialing (800) 758-5804 Ext. 420763.  Additional
 corporate information relating to the Company's SEC filings and corporate news
 releases are available on the internet.  The web site address is
 http://www.icii.com.
 
     For further information contact: Brad Plantiko/CFO 310-791-8096 or Karen
 Montandon/IR 310-791-8022.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X17979067
 
 SOURCE  Imperial Credit Industries, Inc.

RELATED LINKS

http://www.icii.com