PEAK Peak Resorts Com (MM)

HONG KONG, June 1 /PRNewswire-FirstCall/ -- Peak International Limited (NASDAQ:PEAK) today announced that on May 29, 2007, Nasdaq formally gave written notice to the Company regarding the Company's non-compliance with the requirement to have three independent directors on its Audit Committee as required by Nasdaq Marketplace Rule 4350. In the letter, Nasdaq confirms that the Company has a cure period to regain compliance, which shall be: -- until the earlier of the Company's next annual shareholders' meeting or May 14, 2008; or -- if the next annual shareholders' meeting is held before November 12, 2007, then the Company must evidence compliance no later than November 12, 2007. The Company has every intent to regain compliance within the time periods set forth above. About Peak International Limited Peak International Limited is a leading supplier of precision-engineered packaging products for storage, transportation and automated handling of semiconductor devices and other electronic components. There are approximately 1,600 people who are working for Peak directly worldwide or indirectly in its factory in Shenzhen, the PRC, which is operated pursuant to a processing agreement with an unaffiliated party. Peak operates warehouses throughout the world and offers JIT services to leading semiconductor manufacturers and assemblers. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements related to our ability to regain compliance with Nasdaq Marketplace Rule 4350. These and other forward- looking statements are not guarantees of future results and are subject to known and unknown risks, uncertainties and other factors that may cause actual achievements of the Company to be materially different from any future achievements expressed or implied by the forward-looking statements. Such factors include but are not limited to the availability of individuals who are willing to serve on the Company's board of Directors and the Company's ability to locate such individuals within the timeframe required by Nasdaq. Additional risks are detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Quarterly Reports on Form 10-Q and Annual Report on Form 10-K filed on June 29, 2006. Statements included in this press release are based on information known to the Company as of the date of this release, and the Company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statement in this release. Contacts: John Supan Lytham Partners, LLC Chief Financial Officer Joe Diaz Peak International Limited, Hong Kong Joe Dorame +852-3193-6000 Robert Blum (602) 889-9700 DATASOURCE: Peak International Limited CONTACT: John Supan, Chief Financial Officer of Peak International Limited, Hong Kong, +852-3193-6000; or Joe Diaz, Joe Dorame, or Robert Blum, +1-602-889-9700, all of Lytham Partners, LLC, for Peak International Limited

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