Interwoven Receives NASDAQ Notice of Noncompliance With Annual Meeting Requirement

Interwoven Receives NASDAQ Notice of Noncompliance With Annual Meeting
Requirement
Previously Announced NASDAQ Matters Have Been Closed

SAN JOSE, Calif., Jan. 4 /PRNewswire-FirstCall/ -- Interwoven, Inc.
(Nasdaq: IWOV), a global leader in content management solutions, today
announced that it had received notices from The NASDAQ Stock Market LLC
("NASDAQ") regarding the status of the Company's compliance with the NASDAQ
Marketplace Rules.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071205/INTWOVLOGO)
On December 20, 2007, the Company received written notice from NASDAQ
stating that as of that date the Company had demonstrated compliance with all
applicable Marketplace Rules. As previously announced, the Company had
previously received Staff Determination Letters due to its failure to timely
file its Annual Report on Form 10-K for the year ended December 31, 2006 and
its Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30,
and September 30, 2007, respectively, as required by Marketplace Rule
4310(c)(14). All of these reports were filed on December 14, 2007. The
notice received from NASDAQ on December 20, 2007 further stated that as of
that date, the listing review was closed and the Company's common stock would
continue to be listed on The NASDAQ Global Market.
On January 3, 2008, as anticipated, the Company received a new notice of
noncompliance from the staff of NASDAQ, pursuant to NASDAQ Marketplace Rule
4350(e), due to the Company's failure to hold its 2007 Annual Meeting of
Stockholders within twelve months from its 2006 year-end. This notice
indicated that, due to such noncompliance, the Company's common stock would be
subject to delisting from The NASDAQ Global Market unless the Company
requested a hearing before the NASDAQ Listing Qualifications Panel (the
"Panel"). The Company was not able to timely hold its 2007 Annual Meeting of
Stockholders due to the timing of the completion of the Company's voluntary
review of its historical stock option grant procedures and the related
restatement of its historical consolidated financial statements to correct the
accounting for stock-based compensation expense.
In order to comply with this requirement, and as previously disclosed, the
Company has scheduled its 2007 Annual Meeting of Stockholders for February 21,
2008. The Company will request a hearing before the Panel to review the Staff
Determination Letter. The Company intends to request that NASDAQ continue to
list its common stock until and through at least February 21, 2008 to allow
the Company to convene its 2007 Annual Meeting of Stockholders on February 21,
2008, at which time the Company expects that it will have returned to full
compliance with all applicable Marketplace Rules. There can be no assurance
that the Panel will grant the Company's request for continued listing.
Pending the issuance of a decision by the Panel, the Company's common stock
will continue to be listed on The NASDAQ Global Market.
About Interwoven
Interwoven is a global leader in content management solutions.
Interwoven's software and services enable organizations to effectively
leverage content to drive business growth by improving the customer
experience, increasing collaboration, and streamlining business processes in
dynamic environments. Our unique approach combines user-friendly simplicity
with robust IT performance and scalability to unlock the value of content.
Today, more than 4,000 enterprise and professional services organizations
worldwide have chosen Interwoven, including: adidas, Airbus, Avaya, Cisco, DLA
Piper, the Federal Reserve Bank, FedEx, HSBC, LexisNexis, Microsoft, Samsung,
Shell, Samsonite, White & Case, and Yamaha. Over 20,000 developers and over
300 partners enrich and extend Interwoven's offerings. To learn more about
Interwoven, please visit http://www.interwoven.com.
Cautionary Statement Regarding Forward-Looking Statements.
This press release may contain "forward-looking" statements relating to
the Interwoven's continued listing on The NASDAQ Global Market and the holding
of the 2007 Annual Meeting of Stockholders. These statements are predictions
that are based on estimates and information available to us at the time of
this press release and are not guarantees of future performance or events.
Actual results could differ materially from our current expectations as a
result of various factors, including an unanticipated delay in the holding of
the 2007 Annual Meeting of Stockholders or an inability to meet the
requirements of The NASDAQ Stock Market for continued listing of Interwoven's
shares.
SOURCE Interwoven, Inc.

Keren Ackerman of Interwoven, Inc., +1-408-953-7284,
keren.ackerman@interwoven.com