WSP Holdings Notified by NYSE of Non-Compliance with Listing Standards

WSP Holdings Limited WH today announced that the Company was notified by the New York Stock Exchange that the Company is not in compliance with certain NYSE continued listing standards. The NYSE notified the Company that it is not in compliance with the continued listing standard requiring a listed security to maintain a minimum average closing price of $1.00 per share over a consecutive 30-trading-day period. The Company has six months from receipt of the notification to bring its average ADS price above $1.00. The Company is considering several options to regain compliance with this standard. The NYSE also notified the Company that it is not in compliance with the continued listing standard requiring the timely filing of its annual report on Form 20-F for the year ended December 31, 2010 (the "2010 20-F"). The Company previously filed a Form 12b-25 with the U.S. Securities and Exchange Commission (the "SEC") notifying the SEC that the Company had been unable to finalize all the information required for the 2010 20-F by the June 30, 2011 prescribed filing date. The deadline to file the Company's 2010 20-F was extended to July 15, 2011.