Flash Maker Spansion Receives Additional Delisting Notice From Nasdaq

Spansion, Inc. has received an additional staff determination notice from the NASDAQ Stock Market stating that the company’s failure to timely file its annual report on Form 10-K for the fiscal year that ended December 28, 2008 in accordance with NASDAQ Marketplace Rule 4310(c)(14), is an additional basis for delisting the company’s securities from the NASDAQ Global Select Market.

On March 13, 2009, the company filed a Form 12b-25 with the Securities and Exchange Commission explaining that the company was unable to timely file its Annual Report on Form 10-K because it had not yet completed its financial reporting process as a result of the increased burdens placed upon the company’s financial, accounting and administrative staff in preparation for and in connection with the voluntary bankruptcy filings made by the company and its domestic subsidiaries in the U.S. Bankruptcy Court on March 1, 2009. The company is in the process of preparing the Annual Report on Form 10-K for the fiscal year that ended December 28, 2008, which it intends to file as soon as practicable after completion.

The company has requested a hearing before the NASDAQ Listing Qualifications Panel to appeal the delisting determination. There can be no assurance that the hearing panel will grant the company’s request for continued listing.