Majesco Entertainment Regains Full Compliance With NASDAQ $1 Bid Requirement

Majesco Entertainment Company COOL announced today that on January 28, 2011, it received a letter from the Nasdaq Stock Market indicating that the Company had regained compliance with Listing Rule 5550(a)(2) as the closing bid price of the Company's common stock had been at $1.00 per share or greater for at least 10 consecutive business days. On March 2, 2010, the Company was notified that its common stock failed to maintain a minimum bid price of $1.00 for 30 consecutive business days. The letter received on January 28, 2011 further stated that this matter is now closed. The company is now in full compliance with Nasdaq listing requirements.