The 3DO Company, a Delaware corporation, announced today that Nasdaq will delist the Company's common stock from The Nasdaq Stock Market at the opening of trading on June 9, 2003. The delisting is related to the Company's filing of a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the Northern District of California on May 28, 2003. Nasdaq notified the Company that the securities will be delisted pursuant to Nasdaq Marketplace Rules 4300 and 4450(f), which generally provide that Nasdaq may exercise its discretionary authority to delist securities if an issuer files for bankruptcy protection. Nasdaq also cited concerns about the Company's ability to maintain the continued listing requirements under Nasdaq Marketplace Rule 4450. Additionally, the determination was based upon Nasdaq Marketplace Rule 4310 for failure of the Company to pay annual fees. Commencing on June 2, 2003, the trading symbol for the Company's securities will be changed from THDO to THDOQ. The 3DO Company is in the process of evaluating trading of its common stock on the OTC Bulletin Board or in the pink sheets.
