QKL Stores Regains Compliance with the Listing Rules

QKL Stores

, a leading regional supermarket chain in Northeastern China, today announced that on October 16, 2012, China time, it received a letter from The Nasdaq Stock Market LLC ("Nasdaq") advising the Company that, as a result of the appointment of Jingyuan Gao on October 11, 2012 to the Company's Board of Directors and the Audit, Nominating and Corporate Governance, and Compensation Committees, the Company has regained compliance with the independent director and audit committee requirements for continued listing on Nasdaq Capital Market as set forth in the Nasdaq Listing Rules. With Mr. Gao's appointment to the Company's Board of Directors as an independent director, the Company's Board of Directors is again comprised of a majority of independent directors.