PROX Proxim (MM)

Proxim Corporation Receives Nasdaq Delisting Notification SUNNYVALE, Calif., June 7 /PRNewswire-FirstCall/ -- Proxim Corporation (NASDAQ:PROX) announced today that on June 3, 2005, the Company received a letter from The Nasdaq Stock Market, Inc. ("Nasdaq") notifying the Company that for the 30 consecutive trading days preceding the date of the letter, the bid price of the Company's common stock had closed below the $1.00 per share minimum required for continued inclusion on the Nasdaq National Market pursuant to Nasdaq Marketplace Rule 4450(a)(5). The letter further notified the Company that, in accordance with Nasdaq Marketplace Rule 4450(e)(2), the Company will be provided 180 calendar days, or until November 30, 2005, to regain compliance with the minimum bid price requirement. Compliance will be achieved if the bid price per share of the Company's common stock closes at $1.00 per share or greater for a minimum of ten (10) consecutive trading days prior to November 30, 2005. If compliance with Nasdaq's Marketplace Rules is not achieved by November 30, 2005 and if the Company is not eligible for an additional compliance period, Nasdaq will provide notice that the Company's common stock will be delisted from the Nasdaq National Market. In the event of such notification, the Company would have an opportunity to appeal Nasdaq's determination or to apply to transfer its common stock to the Nasdaq SmallCap Market. About Proxim Corporation Proxim Corporation designs and sells wireless networking equipment for Wi- Fi and broadband wireless networks. The Company is providing its enterprise and service provider customers with wireless solutions for the mobile enterprise, security and surveillance, last mile access, voice and data backhaul, public hot spots, and metropolitan area networks. This press release and more information about Proxim can be found on the Web at http://www.proxim.com/. Safe Harbor This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that may cause such forward-looking statements not to be realized. These forward-looking statements, include, but are not limited to, statements related to the Company's continued listed on the Nasdaq National Market. A number of factors could cause actual events to differ materially from the forward-looking statements, including changes to the listing standards, policies and procedures of the Nasdaq National Market. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any changes in expectations, or any change in events or circumstances on which those statements are based, unless otherwise required by law. DATASOURCE: Proxim Corporation CONTACT: Susan Trout of Proxim Corporation, +1-408-542-5366 or Web site: http://www.proxim.com/

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