Lizhan Environmental (PINK:LZEN)

ZHEJIANG, China, Oct. 5, 2012 (GLOBE NEWSWIRE) -- Lizhan Environmental Corporation ("Lizhan" or the "Company") (Nasdaq:LZEN), one of China's leading manufacturers of eco-friendly fabrics made from patented technologies, announced today that it has notified the NASDAQ Stock Market ("NASDAQ") of its intention to voluntarily delist from NASDAQ.

On April 12, 2012, the Company received a notification from the NASDAQ stating Lizhan had been given a period of 180 calendar days, or until October 15, 2012, to regain compliance with NASDAQ's Listing Rule 5500(a)(2), which requires that the bid price of a common share listed on The NASDAQ Capital Market close at a minimum of $1.00 per share.

The decision to voluntarily delist from NASDAQ was taken following the Company's Board of Directors detailed review of numerous factors, including among other things its inability to meet the minimum $1.00 price per share requirement, the applicable NASDAQ rules and regulations, Rule 12d2-2(c) of the Securities Exchange Act of 1934, as amended, the significant compliance obligations and restrictions that result from the maintenance of the listing on NASDAQ and the Company's current financial condition. Based on these factors, the Company no longer sees sufficient value in maintaining its listing on NASDAQ.

The Company intends to file a Form 25 with the U.S. Securities Exchange Commission on October 15, 2012 to commence the NASDAQ delisting process. It is expected that the delisting will take effect as of the close of trading in New York on October 25, 2012. Following delisting, Lizhan's common stock will no longer trade on the NASDAQ Capital Market under the symbol "LZEN." The Company's common stock will continue to be traded on the OTC Pink Sheets. Additionally, the Company will seek to commence trading on the OTCQB or OTCQX as soon as practicable. However, there can be no assurance that a market for the Company's shares will develop.

ZHEJIANG, China, April 17, 2012 (GLOBE NEWSWIRE) -- Lizhan Environmental Corporation ("Lizhan" or the "Company") (Nasdaq:LZEN), one of China's leading manufacturers of eco-friendly fabrics made from patented technologies, announced today that the Company has received an additional 180 days to regain compliance with NASDAQ's minimum $1 bid price per share requirement. In addition, NASDAQ approved the Company's application to list its shares on the NASDAQ Capital Market.

NASDAQ previously indicated to the Company that it had until April 9, 2012 to regain compliance with the minimum price per share requirement. However, based on the Company meeting the continued listing requirement for market value and all other applicable requirements for initial listing on the Capital Market with the exception of the bid price requirement, NASDAQ granted the Company 180 calendar days, to October 8, 2012, to regain compliance. If at any time during this additional compliance period the closing bid price of Lizhan's stock is at least $1 per share for a minimum of 10 consecutive business days, the Company will regain full compliance with its NASDAQ listing requirements.

Starting April 16, 2012, the Company's shares will be listed on NASDAQ's Capital Market.

ZHEJIANG, China, October 13, 2011 /PRNewswire-Asia/ -- Lizhan Environmental Corporation ("Lizhan" or the "Company") (Nasdaq: LZEN), one of China's leading manufacturers of eco-friendly fabrics made from patented technologies, announced today that the Company received two letters, dated October 11, 2011 and October 12, 2011, from The Nasdaq Stock Market stating that for the previous 30 consecutive business days, the bid price of the Company's ordinary shares closed below the minimum $1.00 per share and the market value of the Company's publicly held ordinary shares ("MVPHS") was below the minimum of $5,000,000, both requirements for continued listing on the Nasdaq Global Market pursuant to Nasdaq Marketplace Rules 5450(a)(1) (the "Minimum Bid Price Rule") and 5450(b)(1) (the "MVPHS Rule"), respectively. The Nasdaq letters have no immediate effect on the listing of the Company's ordinary shares.