Beacon Power Delisting Stayed by Nasdaq

Beacon Power Corp. (Wilmington, MA), a development-stage manufacturer of flywheel energy-storage systems that provide uninterruptible electric power, announced that it has been notified by the Nasdaq Stock Market that the Nasdaq Listing Qualifications Panel has determined that a continuation of the listing of the company's securities on the Nasdaq SmallCap Market has been granted.

Beacon Power's stock will continue to be listed on the SmallCap Market until December 8, 2003. In addition, the company has informed Nasdaq that it has made a commitment to seek shareholder approval for a reverse stock split on or before March 13, 2004, and thereafter to effect the split if necessary to comply with the Nasdaq's listing requirement of a $1.00 minimum bid price.