Daily Journal Corporation Receives a NASDAQ Staff Delisting Determination

Daily Journal Corporation Receives a NASDAQ Staff Delisting Determination

         The Company's Stock Will Continue to Trade Pending an Appeal

 The Company Also Announces the Engagement of BDO USA, LLP as Its New Auditor

LOS ANGELES, July 3, 2014 (GLOBE NEWSWIRE) -- Daily Journal Corporation
(Nasdaq:DJCO) announced today that, as expected, the Company received a Staff
Delisting Determination notice from The NASDAQ Stock Market on July 3, 2014,
as a result of the Company's failure to file its quarterly reports on Form
10-Q for the first two quarters of fiscal 2014 by June 30, 2014.

As previously reported, NASDAQ had granted the Company until June 30, 2014 to
regain compliance with NASDAQ Stock Market Rule 5250(c)(1), which requires the
timely filing of all required periodic financial reports with the Securities
and Exchange Commission (the "SEC"). The Company had not been timely in the
filing of its annual report on Form 10-K for fiscal 2013 and in the filing of
its quarterly reports on Form 10-Q for the first two quarters of fiscal 2014
because the Company's former auditor, Ernst & Young, LLP ("EY"), had not yet
completed its audit of the Company's financial statements for fiscal 2013 or
its audit of the Company's internal control over financial reporting.

The Company filed its Form 10-K for fiscal 2013 on June 24, 2014, and then the
Company dismissed EY as its auditor. On July 3, 2014, the Company announced
the engagement of BDO USA, LLP ("BDO") to serve as the Company's new
auditor.Now that BDO has been engaged, the Company expects to file the two
late reports on Form 10-Q as soon as practicable.When those filings are made,
the Company expects to be back in compliance with NASDAQ Stock Market Rule

The Staff Delisting Determination will not immediately result in the delisting
of the Company's common stock.Under NASDAQ Stock Market Rules, the Company's
common stock will continue to trade on NASDAQ during the pendency of an appeal
of the delisting determination by the Company.The Company intends to commence
such an appeal by the required deadline, which is within seven days of the
date of the notice.NASDAQ will generally suspend the delisting for a period
of 15 days following that deadline, although the Company expects to request
additional time to enable BDO to complete its review of the two quarterly

The Staff Delisting Determination indicates that given the circumstances which
prevented the Company from filing its quarterly reports and the Company's
actions to date, the NASDAQ staff would not object to a NASDAQ appeals panel
granting the Company additional time.There can be no assurance, however, that
the additional time will be granted or that the Company will be successful in
its appeal of the delisting determination.

Daily Journal Corporation publishes newspapers and web sites covering
California and Arizona, as well as the California Lawyer magazine, and
produces several specialized information services. Sustain Technologies, Inc.,
New Dawn Technologies, Inc. and ISD Technologies, Inc. are wholly-owned
subsidiaries and supply case management software systems and related products
to courts and other justice agencies.

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Certain statements contained in
this press release are "forward-looking" statements that involve risks and
uncertainties that may cause actual future events or results to differ
materially from those described in the forward-looking statements. Words such
as "expects," "intends," "anticipates," "should," "believes," "will," "plans,"
"estimates," "may," variations of such words and similar expressions are
intended to identify such forward-looking statements. We disclaim any
intention or obligation to revise any forward-looking statements whether as a
result of new information, future developments, or otherwise. Although we
believe that the expectations reflected in such forward-looking statements are
reasonable, we can give no assurance that such expectations will prove to have
been correct. Additional information concerning factors that could cause
actual results to differ materially from those in the forward-looking
statements is contained from time to time in documents we file with the SEC.

         (213) 229-5436
Press spacebar to pause and continue. Press esc to stop.