AOL Latin America Regains Compliance with NASDAQ Listing Requirements.Business Editors/High-Tech Writers FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 24, 2003 America Online Latin America, Inc. (Nasdaq:AOLA AOLA America Online Latin America ), one of the leading interactive services providers in Latin America, announced today that it has received notice from the NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. that it has regained compliance with the continued listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. of the NASDAQ SmallCap Market. NASDAQ stated that as of the close of trading on Monday, July 21, 2003, AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Latin America demonstrated compliance with the $1.00 minimum bid price requirement for its class A common stock, set forth under Marketplace Rule 4310(c)(4), and all other requirements necessary for continued listing on the SmallCap Market. "We are pleased to have regained compliance with NASDAQ's continued listing requirements," said Charles Herington, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AOL Latin America, "This is an important development for our investors, as we continue to participate together in the progress of the online medium in Latin America." About AOL Latin America America Online Latin America, Inc. (Nasdaq:AOLA) is the exclusive provider of AOL-branded services in Latin America and has become one of the leading Internet and interactive services providers in the region. AOL Latin America launched its first service, America Online Brazil, in November 1999, and began as a joint venture of America Online, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AOL Time Warner Inc. (NYSE NYSE See: New York Stock Exchange :AOL), and the Cisneros Group of Companies. Banco Itau, a leading Brazilian bank, is also a minority stockholder of AOL Latin America. The Company combines the technology, brand name, infrastructure and relationships of America Online, the world's leader in branded interactive services, with the relationships, regional experience and extensive media assets of the Cisneros Group of Companies, one of the leading media groups in the Americas. The Company currently operates services in Brazil, Mexico and Argentina and serves members of the AOL-branded service in Puerto Rico. It also operates a regional portal accessible at http://www.aola.com. America Online's 34.4 million members worldwide can access content and offerings from AOL Latin America through the International Channels on their local AOL services. |
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