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Technology Stocks : Silicon Graphics, Inc. (SGI) -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (10667)	12/11/2002 10:28:55 AM
From: Susan Saline	Respond to of 14451

NYSE Reviews Listing Status of SGI Common Stock Company Committed to Restoring Long-Term Share Price Compliance by April 2003 MOUNTAIN VIEW, Calif., Dec 11, 2002 /PRNewswire-FirstCall via COMTEX/ -- The NYSE has advised SGI (SGI) that it will continue the listing of its Common Stock at this time. The Company will be subject to periodic reviews of share price levels and its progress in implementing operational and strategic plans to restore long-term compliance with the NYSE's minimum average share price requirement for continued listing. "We continue to work closely with the NYSE to keep them informed of our business progress and the factors we believe will result in ongoing improvements in our operational performance," said Jeff Zellmer, senior vice president and chief financial officer. SGI previously reported in its Form 10-Q that it had received an NYSE notice on October 24, 2002 indicating that its stock price was below the required minimum price of $1.00 per share when averaged over a 30 trading day period. Since that time, the Company's stock price has increased and is currently above the minimum threshold for continued listing. The NYSE has also informed SGI that its return to share price compliance must be accomplished on an actual and 30 trading day average basis to levels above $1.00 by April 30, 2003. The NYSE further noted that it may at any time choose to suspend the continued listing of a security. SGI's common stock closed at $1.43 per share on December 10, 2002, with a 30 trading day average of $1.13. About SGI Celebrating its 20th year, SGI, also known as Silicon Graphics, Inc., is the world's leader in high-performance computing, visualization and the management of complex data. SGI(R) products, services and solutions enable its technical and creative customers to gain strategic and competitive advantages in their core businesses. Whether being used to design and build safer cars and airplanes, discover new medications and oil reserves, predict the weather, entertain us with thrilling movie special effects or provide mission-critical support for government and defense, SGI systems and expertise are empowering a world of innovation and discovery. The company, located on the Web at www.sgi.com, is headquartered in Mountain View, Calif., and has offices worldwide.