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News Releases:
October
16, 2002
Catalina
Lighting Inc. Approved for Trading on Nasdaq's National Market System
Catalina
Lighting Inc (Nasdaq: CALA), a leading international designer, manufacturer,
and distributor of lighting products for residential and office environments,
today announced that its application for listing on the Nasdaq National Market
System has been approved. Catalina's
shares will commence trading on the Nasdaq National Market on Friday, October
18, 2002, under the same
trading symbol, "CALA."
CEO Eric Bescoby said, "We believe that our National Market
listing will be an important step in gaining trading liquidity for new and
existing shareholders seeking to enlarge positions.
We also believe that the National Market listing will make CALA shares
more marketable to institutional portfolios."
About
Catalina Lighting Inc.
Catalina Lighting Inc. is a leading designer, manufacturer and marketer
of residential and office lighting products.
The Company's broad product line includes functional and decorative
table lamps; ceiling, wall, recessed, vanity and track lighting fixtures;
emergency and outdoor lighting; and chandeliers. Its line is distributed under several brand names, including
Catalina, Dana, Ring, Illuminada and Pro Office.
The Company also functions as an OEM, selling goods under its
customers' private labels.
This press release includes statements that constitute "forward-looking"
statements,
including, without limitation, that the Nasdaq listing will increase the
common stock's trading liquidity and its marketability to institutional
investors. These statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors
that would cause or contribute to such differences include, but are not
limited to, an adverse change in the Company's financial condition and
consequent failure to meet the requirements for continued Nasdaq listing; the
absence of investors interested in trading in the Company's common stock; and
other risks detailed in the Company's periodic reports filed with the
Securities and Exchange Commission. By
making these forward-looking statements, the Company undertakes no obligation
to update these statements for revisions or changes after the date of this
release.
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