Nasdaq issues deficiency notice to TeamStaff

Sep 21 2009

TeamStaff, Inc. (Nasdaq: TSTF), a national provider of healthcare and administrative staffing services, today announced that on September 15, 2009, it received a notice from the Listing Qualifications Department of The Nasdaq Global Market (Nasdaq) stating that for the last 30 consecutive trading days, the Company's common stock has not maintained a minimum market value of publicly held shares of $5,000,000, as required by the continued listing requirements of the Nasdaq Global Market set forth in Listing Rule 5450(b)(1)(C) (the "Listing Rule").

As provided by Nasdaq rules, TeamStaff will be provided 90 calendar days, or until December 14, 2009, to regain compliance with the $5,000,000 minimum market value requirement. The Company will regain compliance with the Listing Rule if, prior to December 14, 2009, the market value of the publicly held shares of TeamStaff's common stock is $5,000,000 or more for a minimum of 10 consecutive trading days. There can be no guarantee that TeamStaff will be able to regain compliance with the Listing Rule.

In the event that we were to receive notice that our common stock will be delisted, Nasdaq rules permit us to appeal any delisting determination by the Nasdaq staff to a Nasdaq Listings Qualifications Panel. In addition, we may be permitted to transfer the listing of our common stock to the Nasdaq Capital Market if we satisfy all criteria for continued inclusion on such market. TeamStaff's management and Board of Directors are considering alternatives to address compliance with the Listing Rule.