MPM Technologies, Inc Announced Non-Compliance with Nasdaq Qualifications Exception

Business Wire, Feb 19, 2003

Business Editors

PARSIPPANY, N.J.--(BUSINESS WIRE)--Feb. 19, 2003

MPM Technologies, Inc. announced today that the company had been delisted from The Nasdaq SmallCap Market and will begin trading on the OTC Bulletin Board (OTCBB:MPML) effective immediately.

The ticker symbol will remain MPML.

By decision dated August 21, 2002, the Nasdaq Listing Qualifications Panel granted MPM continued listing on The Nasdaq SmallCap Market pursuant to an exception. Specifically, on or before February 6, 2003, the Company was required to evidence a closing bid price of at least $1.00 per share and, immediately thereafter, a closing bid price of at least $1.00 per share for a minimum of ten consecutive trading days. The Panel determined that the Company failed to fully satisfy that term of the exception. The Company was also required to evidence compliance with all other requirements for continued listing on The Nasdaq SmallCap Market. As of September 30, 2002, the Company no longer satisfied the $2,500,000 shareholders' equity/market value of listed securities/net income requirement. Accordingly, the Panel determined to delist the Company's securities from The Nasdaq Stock Market effective with the open of business on Tuesday, February 18, 2003. The Company's securities were immediately eligible for quotation on the OTC Bulletin Board effective with the open of business on February 18, 2003.

MPM Technologies, Inc., is a holding company with the following subsidiaries: Huntington Environmental Systems, Inc., and AirPol, Inc., both of which design, build, install and service industrial air pollution control systems; and Nupower, Inc. which is engaged in the development and marketing of Skygas, a patented waste-to-fuel technology. Further information about MPM Technologies, Inc. may be obtained on the Internet at http://www.mpmtech.com.

Statement Under the Private Securities Litigation Reform Act.

With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to, product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors which are outside the control of the company.