EXHIBIT 99.1
Empire Of Carolina Receives AMEX Delisting Notice, DELRAY BEACH, Fla., Sept. 28
/PRNewswire/ --Empire of Carolina, Inc. (Amex: EMP) today announced that, on
September 26th, it received notice from the American Stock Exchange ("Amex")
that the Amex has determined to delist the common stock, Series A convertible
preferred stock and warrants of the Company as it does not meet the Amex's
criteria for continued listing. Such criteria include minimum levels of
shareholders equity and the absence of years of net losses from continuing
operations. In response to the Amex notice, the Company has exercised its right
to appeal the Amex's decision and has requested a formal hearing in order to
further consider the decision. If the Company is unsuccessful in its appeal to
maintain the listing of the Company's common stock, Series A preferred stock and
warrants on the Amex, it is anticipated that the Company's common stock, Series
A preferred stock and warrants will trade on the Over the Counter Bulletin
Board.
This release contains certain forward-looking statements and information that
are based on management's beliefs, as well as assumptions made by and
information currently available to management, including management's plans and
objectives. Such statements are subject to various risks and uncertainties. Such
risks and uncertainties include the Company's ability to maintain listing of its
securities on Amex. Certain of these as well as other risks and uncertainties
are stated in more detail in the Company's Annual Report on Form 10-K and
Registration Statement of Form S-3 filed under the Securities Act of 1933,
Registration No. 333-57963. The Company undertakes no obligation to update any
such factors or to publicly announce the result of any revisions to any of the
forward-looking statements contained herein to reflect future events or
developments.
