Orsus Xelent Receives Deficiency Letter From NYSE Amex Exchange; Intends to Comply With Requirements

Wed Apr 27, 2011 4:05pm EDT

* Reuters is not responsible for the content in this press release.

  NEW YORK, NY, Apr 27 (MARKET WIRE) -- 
Orsus Xelent Technologies, Inc. ("Orsus" or the "Company") (NYSE Amex:
ORS), a designer and manufacturer of award-winning mobile phones for the
Asian market, reported today receipt of a letter from the NYSE Amex LLC
("the Exchange"), which stated the Company is not in compliance with
Section 1003 (a) (i) of the Exchange's Company Guide based on the
Company's reporting of less than $2 million in stockholders' equity and
losses from continuing operations and net losses in its two most recent
fiscal years ended December 31, 2010; and Section 1003 (a) (iv) of the
Exchange's Company Guide with respect to its financial condition, which
makes it questionable in the opinion of the Exchange as to whether the
Company will be able to continue operations or timely meet its
obligations. Additionally, the Company has been advised its common shares
may not be suitable for auction market trading due to their low selling
price.

    As such, the Exchange requires the Company to submit a plan by May 23,
2011 addressing how it intends to regain compliance with Section 1003 (a)
(iv) by July 21, 2011, and by Oct. 21, 2011 with Section 1003 (a) (i).
Further, by July 21, 2011, the Company must effect a reverse split.
Should the Company fail to regain compliance within the specified time
periods, the Exchange will initiate delisting proceedings.

    The Company reported it intends to comply with requirements in the letter
from the Exchange and will submit a timely plan of compliance. The
Company also reported it shortly will effect a reverse split of its
common stock to raise the selling price.

    About Orsus Xelent Technologies, Inc.

    Incorporated in the State of Delaware and headquartered in Beijing,
China, Orsus Xelent Technologies, Inc. is an emerging designer and
manufacturer of award-winning mobile phones for the Asian market,
primarily the People's Republic of China ("PRC"). The Company's business
encompasses the design of mobile phones, related digital circuits, and
software development, and it is a recognized pioneer in mobile phone
integration technology. It introduced the region's first wristwatch-style
cellular phone, and it continues to break new ground with
state-of-the-art phones that include advanced features such as
fingerprint recognition and touch-screen displays. The Company also is
focused on developing and marketing, under its Proxlink trademark,
special application mobile phones for specialized users in a wide variety
of professions in business and government. Since the Company's launch in
2004, it has established "Orsus" as a popular brand and achieved a
significant share of the world's largest mobile phone market. It
maintains more than 179 service call centers across the PRC, with
additional offices in Shanghai, Hong Kong, Shenzhen, and Tianjin. For
more information, please visit the Company's web site:
www.orsus-xelent.com.

    Information Regarding Forward-Looking Statements

    Except for historical information contained herein, the statements in
this Press Release are forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties, which may cause our actual results in future periods
to differ materially from forecasted results. These risks and
uncertainties include, among other things, product demand, market
competition, and risks inherent in our operations. These and other risks
are described in our filings with the Securities and Exchange Commission.

    

Contact:
PRC:
Orsus Xelent Technologies, Inc.
Guoji Liu
CEO
Tel: 010-861085653777 

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