Autobytel Inc. Receives De-Listing Notification from NASDAQ...FINALLY

EDITOR'S NOTE: Normally, NASDAQ begins the delisting process after a common stock falls below the $1 minimum thresh hold for 30 consecutive days. In a check of prices, ABTL shares haven't traded over $1 since October 2, 2008...nearly ONE YEAR AGO. Do I smell improper consideration? Keep in mind, that ABTL had had to go through one or more reverse splits over the years (if I recall correctly) in order to avoid previous delisting actions. And this is a company that once traded above $50 with a market cap over a billion dollars. What a great job they did protecting investors' money. But on the bright side, come the next NADA Trade Show you can bet that Autobytel management will concoct some new whiz-bang reasons why they will reach profitability.

IRVINE, CA - September 18, 2009: Autobytel Inc., an automotive marketing services company, today announced that it received a letter dated September 15, 2009, from The NASDAQ Stock Market, notifying Autobytel that during the preceding 30 consecutive business days, the closing bid price of Autobytel’s common stock has been below the $1.00 minimum bid price per share required for continued listing on the NASDAQ Global Market under NASDAQ Listing Rule 5450(a)(1). This notification does not result in the immediate delisting of Autobytel’s common stock from the NASDAQ Global Market.

The notification states that, in accordance with NASDAQ Listing Rule 5810(c)(3)(A), Autobytel will be provided 180 calendar days, or until March 15, 2010, to regain compliance with the minimum bid price requirement set forth in NASDAQ Listing Rule 5450(a)(1) by maintaining a closing bid price of $1.00 per share or higher for a minimum of 10 consecutive business days. Under the Listing Rules, the NASDAQ staff may exercise its discretion to extend this 10 day period. If Autobytel does not regain compliance with the minimum bid requirement during this initial 180-day period, NASDAQ will provide notice to Autobytel that Autobytel’s common stock is subject to delisting from the NASDAQ Global Market. If Autobytel receives such a notice, it may appeal the delisting determination to the NASDAQ Hearing Panel or may apply to transfer the listing of its common stock to the NASDAQ Capital Market if Autobytel satisfies all criteria for initial listing on the NASDAQ Capital Market, other than compliance with the minimum bid price requirement. If such application to the NASDAQ Capital Market is approved, then Autobytel may be eligible for an additional grace period.

Autobytel is considering actions that it may take in response to this notification in order to regain compliance with the continued listing requirements.