Innovex Receives Letter From Nasdaq Regarding Non-Compliance

Innovex received a Staff Deficiency Letter from The
Nasdaq Stock Market on February 11, 2008 which stated that the Company’s
stockholders’ equity at December 29, 2007 was
less than the $10 million minimum in stockholders’
equity required for continued listing on The Nasdaq Global Market under
Marketplace Rule 4450(a)(3). As reported in the Company’s
Quarterly on Form 10-Q for the period ended December 29, 2007, the
Company’s stockholders’
equity was $6,163,044.

In its letter, Nasdaq staff requested that the Company provide, on or
before February 26, 2008, a plan to achieve and sustain compliance with
all of The Nasdaq Global Market listing requirements, including the
minimum stockholders’ equity requirement. If
Nasdaq staff determines that the Company has not presented an
appropriate definitive plan, the staff will provide the Company with a
written notification that its securities will be delisted from The
Nasdaq Global Market. The Company may then appeal the Nasdaq staff’s
delisting determination to the Nasdaq Listing Qualifications Panel. The
Company also may consider applying to list its securities on The Nasdaq
Capital Market if it satisfies the requirements for continued listing on
that market.

Innovex, Inc.