MicroTel's Common Stock Will Continue to be Listed On the Nasdaq SmallCap Market

Business Wire, Feb 18, 1999

ONTARIO, Calif.--(BUSINESS WIRE)--February 18, 1999--MicroTel International Inc. (NASDAQ SmallCap: MCTL) today announced that it has been notified that its common stock will continue to be listed on The Nasdaq SmallCap Market via an exception from the minimum bid price requirement. In its correspondence, The Nasdaq Stock Market noted that its "panel was of the opinion that MicroTel presented a definitive plan which will enable it to regain compliance with the bid price requirement within a reasonable period of time and to sustain compliance with all requirements for continued listing on The Nasdaq SmallCap Market over the long term."

While MicroTel failed to meet this requirement as of November 13, 1998, the Company was granted a temporary exception from this standard subject to MicroTel's meeting certain conditions. The exception will expire on May 17, 1999. In the event the Company is deemed to have met the terms of the exception, it shall continue to be listed on The Nasdaq SmallCap Market. The Company believes it can meet these conditions. However, there can be no assurance that it will do so. If at some future date the Company's securities should cease to be listed on The Nasdaq SmallCap Market, they may continue to be listed in the OTC-Bulletin Board. For the duration of the exception, the Company's Nasdaq symbol will be MCTL.C.