W Holding (WHI) Receives Non-Compliance Notification From NYSE

April 8, 2008 2:37 PM EDT

In Today's 8-K Filing From W Holding (NYSE: WHI): On April 2, 2008, W Holding Company, Inc. was notified by the NYSE that the Company is not in compliance with NYSE Listed Company Manual Section 802.01E because the Company has not timely filed its Annual Report on Form 10-K for the year ended December 31, 2007. Accordingly, the Company is subject to the procedures specified in Section 802.01E, which provides, among other things, that the NYSE will monitor the Company and the filing status of the 2007 Form 10-K on an ongoing basis for up to a six-month period from the date the 2007 Form 10-K was due to be filed (including the applicable extension period), during which time the Company's common stock will continue to be listed.

The Company was not able to timely file the 2007 Form 10-K because the Company has not completed its previously announced restatement of the financial statements of the Company for the year ended December 31, 2006 and for the quarters ended September 30, 2006 and March 31, 2007 for the correction of an error to recognize the impact of adjustments resulting from the Inyx, Inc. loan impairment over such periods. The Company is currently working expeditiously to conclude the restatement. At this time, the Company is not able to predict when it will complete the restatement and file the 2007 Form 10-K. [SM]

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