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Technology Stocks : Corvis Corporation (CORV) -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (1578)	10/1/2002 7:47:25 PM
From: SemiBull	Read Replies (2) \| Respond to of 2772

Corvis to Transfer to Nasdaq SmallCap Market Nasdaq SmallCap Market Application Approved; Transfer Scheduled for the Opening of Business on October 14, 2002 Tuesday October 1, 8:04 am ET COLUMBIA, Md., Oct. 1 /PRNewswire-FirstCall/ -- Corvis Corporation (Nasdaq: CORV - News), a leading provider of intelligent optical networking solutions, announced today that it will transfer the listing of its common stock to the Nasdaq SmallCap Market from the Nasdaq National Market. The Company's common stock will be transferred to the Nasdaq SmallCap Market at the opening of business on October 14, 2002, and will continue to trade under the symbol CORV. The Nasdaq SmallCap Market is fully automated, and provides real-time trade reporting and a marketplace for more than 800 companies. With the introduction of the Nasdaq SuperMontage(SM) trading system this year, securities listed on both the Nasdaq National Market and Nasdaq SmallCap Market share a unified, more liquid and transparent order entry system. Corvis elected to seek a transfer to the Nasdaq SmallCap Market as its common stock had not met Nasdaq's $1 per share minimum bid price requirement for continued listing on the National Market. A transfer to the Nasdaq SmallCap Market gives Corvis additional time and flexibility to meet the Nasdaq minimum bid price listing requirement of $1 per share. By transferring to the Nasdaq SmallCap Market, Corvis may be afforded extended grace periods in which to satisfy the minimum bid price requirement, potentially until July 10, 2003, provided it meets other applicable listing criteria. Furthermore, the Company may be eligible to transfer back to the Nasdaq National Market if its bid price maintains the $1 per share requirement for 30 consecutive trading days and it has maintained compliance with all other continued listing requirements on the Nasdaq National Market. The Company believes that it meets all of the Nasdaq National Market listing requirements, other than the $1 minimum bid price. About Corvis From point-to-point links to all-optical networks, Corvis Corporation delivers innovative optical network solutions that drive carrier profitability faster than any other vendor. Headquartered in Columbia, MD, Corvis provides carriers with scalable optical networking solutions and services that dramatically reduce the overall expenses associated with building and operating networks. Carriers deploying Corvis' optical network solutions can provision new wavelength-based services and tailor dynamic service-level agreements for rapid revenue generation. For more information about Corvis, please visit its Web site corvis.com. Corvis and the Corvis logo are trademarks and/or service marks of the Corvis Corporation. All other trademarks are the property of their respective owners. Note: This announcement contains certain forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially from those currently anticipated as a result of a number of factors, including, but not limited to, the risks and uncertainties discussed under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's filings with the Securities and Exchange Commission. Corvis Investor Relations Contact: Corvis Public Relations Contact: Andrew G. Backman Kathryn Courbe (443) 259-4600 (301) 310-3030 Fax: (301) 310-3134 Fax: (301) 310-3991 investorrelations@corvis.com pr@corvis.com -------------------------------------------------------------------------------- Source: Corvis Corporation