Private Media Group Receives NASDAQ Letter Regarding Non-Compliance

Private Media Group, Inc.PRVT today announced that on May 19, 2011, the Company received a letter from The NASDAQ Stock Market stating that because the Company failed to file its Form 10-Q for the period ended March 31, 2011, on or before its due date, and because the Company remains delinquent in filing Form 10-K for the period ended December 31, 2010, on or before its due date, April 15, 2011, it is not in compliance with NASDAQ Marketplace Rule 5250(c)(1), which requires that a listed company timely file periodic financial reports with the U.S. Securities and Exchange Commission as a condition to continued listing of its securities. The letter has no immediate effect on the listing of the Company's Common Stock.