Oryx Technology's Common Stock Will Continue to be Listed on the Nasdaq SmallCap Market Via an Exception From the Minimum Bid Price Requirement

Business Wire, May 22, 2001

Business Editors/High-Tech Writers

FREMONT, Calif.--(BUSINESS WIRE)--May 22, 2001

Oryx Technology Corporation (Nasdaq:ORYX), a technology management company, today announced that on May 21, 2001 it received a notification from Nasdaq Listing Qualifications Panel that the Company's common stock will continue to be listed on The Nasdaq SmallCap Market via an exception from the minimum bid price requirement.

While Oryx failed to meet this requirement as of March 20, 2001, the Company was granted a temporary exception from this standard subject to Oryx meeting certain conditions. The exception will expire on June 20, 2001. 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 that 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 "ORYC."

Company Profile

Headquartered in Fremont, California, Oryx Technology Corp. is a technology management company with a proprietary portfolio of high technology products in surge protection. Oryx also provides management services to early-stage technology companies through its affiliate, Oryx Ventures, LLC. Oryx's common stock trades on the NASDAQ SmallCap Market under the symbol ORYX.

Forward-Looking Statements

Certain of the matters discussed in this release are forward-looking and involve a number of risks and uncertainties. Oryx's actual results could differ materially from those described for a variety of factors. Such factors could include, but are not limited to, those discussed in "Risk Factors" and "Management's Discussion and Analysis" in Oryx's Form 10-KSB/A filed for the fiscal years ended February 28, 1999 and February 29, 2000, as well as those discussed elsewhere in other public filings made by Oryx with the Securities and Exchange Commission. Among the factors that could cause actual results to differ materially are the following: adverse changes in the specific markets for Oryx products, adverse business conditions, dependence on licensees of Oryx technology for the commercial success of new products, lack of success in technological advancement, management of cost controls and cash resources, need for additional financing and other factors.