Exhibit 99.1
CONTACT INFORMATION: FOR IMMEDIATE RELEASE
Financial: Bruce Crowell,
Chief Financial Officer
732-945-6000
bcrowell@dset.com
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Media Relations:
Patricia Beninati
Director of Marketing,
732-945-6000 Ext. 240
pbeninati@dset.com
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or
Lorretta Gasper
Wind Rose Communications
404-459-8878
lorretta.gasper@windrosecommunications.com
DSET Plans To Appeal NASDAQ Delisting Notice
SHREWSBURY, N.J.--Sept. 12, 2002--DSET Corporation (NASDAQ-SCM:DSET), one of the
industry's premier providers of electronic bonding gateways and OSS solutions
for global, multi-vendor networks, announced today it received a letter from the
Nasdaq Stock Market, Inc., informing the Company that its Common Stock is
subject to delisting from the Nasdaq SmallCap Market because the Company had not
regained compliance with the $1.00 minimum bid price per share requirement set
forth in Marketplace Rule 4310(c)(8)(D).
DSET transferred the listing of its Common Stock from the Nasdaq National Market
to the Nasdaq SmallCap Market on May 29, 2002. However, the Company is not
eligible for a 180 calendar day grace period to regain such compliance since it
does not meet the $5.0 million stockholders' equity requirement for initial
inclusion on the NASDAQ SmallCap Market set forth under Marketplace Rule
4310(c)(2)(A).
DSET has requested a hearing before the NASDAQ Listing Qualifications Panel to
appeal the ruling by NASDAQ. During the appeals process, which the Company
expects will take between 30 and 60 days, the Company's Common Stock will
continue to trade on the NASDAQ SmallCap Market. There can be no assurance that
the Listing Qualifications Panel will grant the Company's request for continued
listing. In the event the Listing Qualifications Panel does not grant continued
listing, the Company expects its Common Stock would trade on the
Over-the-Counter Bulletin Board (OTCBB). The OTCBB is a regulated quotation
service that displays real-time quotes, last-sales prices, and volume
information for more than 3,600 equity securities.
About DSET
DSET Corporation (www.dset.com) is one of the leading providers of innovative
OSS software solutions designed to minimize operational costs and maximize the
value of service offerings for telecommunications providers around the world.
Since 1989, DSET's field-proven products have been used to build critical global
network applications that generate immediate return on investment. DSET's
portfolio of industry-leading products include: electronic-bonding gateways that
allow competitive service providers to exchange information electronically with
other telecommunications providers which significantly reduce the time required
to provision services and resolve service outages for their customers; and
IPSource, an advanced IP provisioning, activation and configuration platform
enabling providers to deploy, modify and manage services quickly, reliably and
profitably.
Statements about financial matters in this press release, other than historical
facts, are forward-looking. Since all statements about DSET's plans, estimates,
and expectations are based on current projections that involve risks and
uncertainties, and are subject to change at any time, the company's actual
results may differ materially from expected results. Investors should consider
these risks and uncertainties, which are discussed in documents filed by DSET
with the Securities and Exchange Commission. These documents identify important
factors that could cause the actual results to differ materially from those
contained in the projections or forward-looking statements. DSET expressly
disclaims any obligation to update any forward-looking statements.
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