ECHO Press Releases

FOR IMMEDIATE RELEASE
April 17, 2001

ECHO RECEIVES NASDAQ NOTIFICATION

  Agoura Hills, Calif.-- Electronic Clearing House, Inc. (NASDAQ:ECHO) announced today, as required by applicable Nasdaq regulation, that it received a Nasdaq Staff Determination on April 10, 2001 indicating that the Company fails to comply with the minimum bid price requirement for continued listing on the Nasdaq SmallCap Market, as set forth in Market Place Rule 4310 (c)(4), and that its securities are, therefore, subject to delisting. The Company has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Nasdaq Staff Determination which stays any delisting action. The hearing is expected to occur within the next 45 days. 

  The Company stock’s closing bid price maintained a price of $1.00 or more for 10 consecutive trading days between the period March 23, 2001 to April 5, 2001, which the Company believes satisfied Nasdaq Market Place Rule 4310 (c)(4) for continued listing.  The Company’s stock bid price closed slightly below the $1.00 level for three days following the April 5^th date and the Staff of Nasdaq subsequently advised the Company of its intent to initiate a delisting action. The Company disagrees with the position taken by the Nasdaq Staff and has appealed the Staff determination to the Hearing Panel but there can be no assurance the Panel will grant the Company’s request for continued listing.  

  “We feel the Company complied with the 10-day minimum bid price requirement and do not feel the Staff’s subsequent notice is appropriate,” stated Joel M. Barry, Chairman and CEO of ECHO, “but, ignoring this point, we feel confident that ECHO will resolve the minimum bid price issue as well and will remain listed on the Nasdaq SmallCap Market.”

  In case there are questions, shareholders are encouraged to call the company at 800-262-3246, extension 3033.

Electronic Clearing House, Inc. provides debit and credit card processing, check guarantee, check verification, check conversion, and inventory tracking to over 58,000 retail merchants and U-Haul dealers across the nation. 

To take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, you are hereby cautioned that this release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties.  Actual operations and results may differ materially from those expressed in the forward-looking statements made by the Company.

Media Contact:
Donna Rehman, Corporate Secretary
(818) 706-8999, ext. 3033 or corp@echo-inc.com

Press Releases are also available by calling (800) 233-0406 ext. 3033, or by email to corp@echo-inc.com

2001
2000

Electronic Clearing House, Inc. (ECHO)
28001 Dorothy Drive
Agoura Hills, CA 91301

Phone: (800) 233-0406
Fax: (818) 991-5973
E-Mail: echo@echo-inc.com
URL: http://www.echo-inc.com