MRAE Mirae Corp (MM)

Mirae Corporation (NASDAQ:MRAE) (the "Company") today announced it received a Nasdaq Staff Deficiency Letter on April 14, 2008 indicating that the Company's American Depositary Shares ("ADSs") have been trading below the required minimum closing bid price of US$1.00 per share on Nasdaq for the last 30 consecutive business days and as a result the Company failed to comply with the minimum bid price requirement for continued listing set forth in Nasdaq Marketplace Rule 4450(a)(5). In accordance with Marketplace Rule 4450(e)(2), the Company has until October 13, 2008 to regain compliance. As previously disclosed, the Company intends to voluntarily delist its ADSs from the Nasdaq Global Market and deregister from the U.S. Securities and Exchange Commission and, therefore, currently does not have any plans to take steps to regain compliance with the minimum bid price requirement under the Marketplace Rule. About Mirae Corporation Incorporated in the Republic of Korea in 1990, Mirae Corporation is a manufacturer of semiconductor-related equipment and telecommunication appliances and offers a broad range of products including handlers and SMD replacement systems for sale in Korea and overseas markets. For further information about Mirae Corporation, please visit its website at http://www.mirae.com. Forward-Looking Statement: Certain statements in this press release are "forward-looking statements" within the meaning of the U.S. federal securities laws. These forward-looking statements include, but are not limited to, statements as to plans to delist from Nasdaq, deregister from the SEC and plans not to regain compliance among others. These forward-looking statements are based on our current assumptions, expectations and projections about future events and subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond our ability to control or estimate precisely, such as the effect of general economic or political conditions, fluctuations in exchange rates or interest rates, increases or changes in competition, our ability to implement and complete successfully our plans and strategies, changes in our liquidity needs, the actions of competitors and third parties, and other factors discussed in our public filings. Investors are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We do not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect new, changing or unanticipated events or circumstances after the date of this press release, except as may be required by applicable securities law.