Tongxin International, Ltd. Receives NASDAQ Staff Deficiency Letter

CHANGSHA, China, July 23 /PRNewswire-Asia-FirstCall/ -- Tongxin International Ltd. (Nasdaq: TXIC), announced today that TXIC received a NASDAQ Staff Deficiency Letter on July 19, 2010 indicating that TXIC no longer complies with NASDAQ Listing Rules (the "Rules") for continued listing set forth in NASDAQ Listing Rule 5810(c)(2) (the "Rule") due to TXIC's failure to file its Form 20-F for the period ended December 31, 2009, by the due date, as extended by TXIC's filing under SEC Rule 12b-25, of July 15, 2010. Under the Rules, TXIC now has 60 calendar days to submit a plan to regain compliance. If NASADAQ accepts TXIC's plan of compliance, NASDAQ can grant an extension of up to 180 calendar days from the due date, as extended, or until January 11, 2011, to regain compliance. As previously announced in the Company's Form 6-K filed on July 15, 2010, this non-compliance resulted from the Company's inability to publish its audited consolidated financial statements for the year ended December 31, 2009 by the due date, as extended, of July 15, 2010.

Tongxin management will be providing NASDAQ in the near term with a specific plan and timetable to achieve compliance with the rules for continued listing on The NASDAQ Global Stock Market.

This announcement is being made in compliance with NASDAQ Listing Rule 5810(b), which requires prompt disclosure of receipt of the NASDAQ Staff Deficiency Letter.

About Tongxin International Ltd.

Tongxin International Ltd., the largest independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. The Company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Tongxin maintains a network of 130 customers throughout 20 provinces in China. Headquartered in Changsha, Tongxin also maintains regional manufacturing in Dali, Ziyang and Zhucheng.

FORWARD LOOKING STATEMENTS

Statements contained in this press release, which are not historical fact, constitute "Forward-Looking Statements." Actual results may differ materially due to numerous important factors that are described in Tongxin International's most recent report to the SEC on Form 6-K, which may be revised or supplemented in subsequent reports to the SEC. Such factors include, among others, the cost and timing of implementing restructuring actions, the Company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions or price reductions to obtain new business, conditions in the automotive industry, and certain global and regional economic conditions. Tongxin International does not intend or assume any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

    For more information, please contact:

    COMPANY:

     Mr. Rudy Wilson, CEO
     Tel:   +1-248-593-8330
     Email: [email protected]

     Ms. Jackie Chang, CFO
     Tel:   +1-626-660-7117
     China: +86-134-6755-3808
     Email: [email protected]
     Web:   http://www.txicint.com

SOURCE Tongxin International Ltd.

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