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Paul-Son Names CFO, Nasdaq Listing Will Continue

Sullivan will report to Gerard Charlier, the President and CEO, and will manage Paul-Son's financial operations and reporting. Before joining Paul-Son, Sullivan was the Corporate Controller for Serrot International, Inc. She has over 20 years of accounting, management and financial reporting experience in both public and private companies, including companies in the manufacturing, banking, travel and leisure, and real estate development industries.

As previously announced, Paul-Son had received notice from Nasdaq that its shares were subject to delisting because the Nasdaq Staff believed that Paul-Son's combination with Etablissements Bourgogne et Grasset constituted a "reverse merger" under Nasdaq Marketplace Rule 4330(f). This would have required Paul-Son to satisfy Nasdaq's initial listing requirements in order to maintain its listing. One of these requirements is a minimum $4.00 per share bid price, which Paul-Son did not meet.

Paul-Son appealed the Staff determination, and a Nasdaq Listing Qualification Panel determined to continue the listing of the Company's shares on the Nasdaq SmallCap Market. Like other listed companies, Paul-Son must continue to comply with the requirements for continued listing in order to maintain its Nasdaq listing. Paul-Son currently meets these requirements.

Paul-Son manufactures and supplies casino chips, table layouts, playing cards, dice, gaming furniture, table accessories and other products that are used with casino table games such as blackjack, poker, baccarat, craps and roulette. Paul-Son is headquartered in Las Vegas, Nevada, with offices in Beaune, France, San Luis, Mexico, Atlantic City, New Jersey and other locations. Paul-Son sells its products to licensed casinos throughout the world.

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