OCZ Technology Receives Extension From NASDAQ

OCZ Technology Receives Extension From NASDAQ 
SAN JOSE, CA -- (Marketwired) -- 09/12/13 --   OCZ Technology Group,
Inc. (NASDAQ: OCZ), a leading provider of high-performance
solid-state drives (SSDs) for computing devices and systems, today
announced that as a result of the ongoing restatement process, the
Company will not meet the previously disclosed September 16, 2013
NASDAQ extension date for becoming current with its filings with the
Securities and Exchange Commission. The Company notified the NASDAQ
Listing Qualifications Panel (the "NASDAQ Panel") of this delay. On
September 12, 2013, the NASDAQ Panel granted the Company's request to
remain listed on The NASDAQ Stock Market, subject to the condition
that the Company becomes current in the filings of its periodic
reports with the Securities and Exchange Commission by October 7,
2013. 
"We are delighted that NASDAQ has given us this extension as it gives
us the additional time we need to complete the restatement. The
Company has been working to complete the comprehensive audit and
restatement work that was expanded to cover three additional years,
subsequent to the issuance of the NASDAQ Panel's hearing decision,"
stated Ralph Schmitt, CEO of OCZ Technology. "We have completed most
of the work required to regain compliance and the team is diligently
driving this to closure." 
In accordance with the Listing Rules, the newly established October
7th deadline represents the maximum extent of the discretion afforded
to the NASDAQ Panel. As a result, should the Company be unable to
meet the new exception deadline, the NASDAQ Panel would be required
to issue a final determination to delist the Company's shares and,
pursuant to that determination, trading in the Company's shares would
be suspended on The NASDAQ Stock Market effective on the second
business day from the date of the final determination. 
About OCZ Technology Group, Inc.
 Founded in 2002, San Jose, CA-based
OCZ Technology Group, Inc. (OCZ) is a global leader in the design,
manufacturing, and distribution of high-performance solid-state
storage solutions and premium computer components. Offering a
complete spectrum of solid-state drives (SSDs), OCZ provides SSDs in
a variety of form factors and interfaces (i.e. PCIe, SAS and SATA) to
address a wide range of client and enterprise applications. Having
developed firmware and controller platforms, to virtualization and
endurance extending technologies, the company delivers vertically
integrated solutions enabling transformational approaches to how
digital data is captured, stored, accessed, analyzed and leveraged by
customers. More information is available at www.ocz.com.  
Forward Looking Statements
 Certain statements in this release relate
to future events and expectations and as such constitute
forward-looking statements involving known and unknown factors that
may cause actual results of OCZ Technology Group, Inc. to be
different from those expressed or implied in the forward-looking
statements. In this context, words such as "will," "would," "expect,"
"anticipate," "should" or other similar words and phrases often
identify forward-looking statements made on behalf of OCZ. It is
important to note that actual results of OCZ may differ materially
from those described or implied in such forward-looking statements
based on a number of factors and uncertainties, including, but not
limited to, the risk that the process of preparing and auditing the
financial statements or other subsequent events would require OCZ to
make additional adjustments; the time and effort required to complete
the restatement of the financial reports; the ramifications of OCZ's
potential inability to timely file required reports; including
potential delisting of OCZ's common stock on NASDAQ; the risk of
litigation or governmental investigations or proceedings relating to
such matters; market acceptance of OCZ's products and OCZ's ability
to continually develop enhanced products; adverse changes both in the
general macro-economic environment as well as in the industries OCZ
serves, including computer manufacturing, traditional and online
retailers, information storage, internet search and content providers
and computer system integrators; OCZ's ability to efficiently manage
material and inventory, including integrated circuit chip costs and
freight costs; and OCZ's ability to generate cash from operations,
secure external funding for its operations and manage its liquidity
needs. Other general economic, business and financing conditions and
factors are described in more detail in "Item 1A -- Risk Factors" in
Part I in OCZ's Annual Report on Form 10-K filed with the SEC on May
14, 2012, and statements made in other subsequent filings. The filing
is available both at www.sec.gov as well as via OCZ's website at
www.ocz.com. OCZ does not undertake to update its forward-looking
statements. 
Investor Contact:
Bonnie Mott
Senior Manager of Investor Relations
 408-440-3428
 bmott@ocztechnology.com  
Press Contact:
Scott Harlin
Director of Marketing Communications - Enterprise
(408) 733-8400
sharlin@ocztechnology.com 
 
 
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