RESTON, Va. -- Sept. 3, 2004 -- InteliData Technologies Corporation (Nasdaq:INTD), a leading provider of electronic bill payment and presentment ("EBPP") technologies, today announced Nasdaq's approval for the listing of InteliData's common stock on the Nasdaq SmallCap Market. InteliData's common stock has been transferred from the Nasdaq National Market to the Nasdaq SmallCap Market effective as of the open of business on September 7, 2004. InteliData's common stock will continue to be listed under the trading symbol "INTD".
InteliData currently meets all criteria for continued inclusion in the Nasdaq SmallCap Market except for the $1.00 minimum bid price per share requirement. InteliData has an initial grace period until December 13, 2004, to comply with the minimum bid price requirement. However, InteliData may be eligible for an additional grace period ending June 13, 2005, as long as InteliData can demonstrate it remains in compliance with the Nasdaq SmallCap Market's other initial listing standards.
According to Alfred S. Dominick, Jr., InteliData's Chairman and Chief Executive Officer, "We believe the Nasdaq SmallCap Market is the appropriate market for the Company's stock at this stage. We do not expect our listing on the SmallCap Market to materially change how our stock is traded since the SmallCap Market continues to provide our investors access to the benefits of the Nasdaq Stock Market. The transfer should also afford us the maximum amount of time to regain compliance with Nasdaq's minimum bid price requirement."
About InteliData
With over a decade of experience, InteliData provides online banking and electronic bill payment and presentment ("EBPP") technologies and services to leading banks, credit unions, financial institution processors and credit card issuers. The Company develops and markets software products that offer proven scalability, flexibility and security in supplying real-time, Internet-based banking services to its customers. The Company also provides application services provider ("ASP") and hosting solutions. Visit the Company's Web site at www.InteliData.com.
