TRAILER BRIDGE APPEALS TO REMAIN ON NASDAQ

TRAILER BRIDGE APPEALS TO REMAIN ON NASDAQ

   Trailer Bridge Inc. has sought a review of a Nasdaq determination that could lead to the financially troubled, Jacksonville, Fla.-based company's delisting from the national stock market.

   A May 16 Nasdaq staff determination said Trailer Bridge failed to comply with requirements of a $4-million net tangible assets requirement, a $15-million market value of publicly-held shares, and a minimum $3 bid price under Nasdaq marketplace rules.

   Trailer Bridge has requested a hearing before a Nasdaq Listing Qualifications Panel to review the staff determination, and the company anticipates a hearing to be scheduled in 45 days.

   Trailer Bridge's common stock will continue to be traded on the Nasdaq market pending the outcome of the hearing. To remain in compliance, the company has to be in compliance with certain Nasdaq maintenance standards, or demonstrate specific actions it intends to take to be in compliance.

   If delisted, Trailer Bridge could apply for listing on the Nasdaq SmallCap Market or have its common stock traded on the OTC Bulletin Board's electronic quotation system, or another quotation system or exchange for which it would qualify.

   Trailer Bridge, which provides tug-and-bard service between the United States and Puerto Rico, as well as trucking services, recently reported a first-quarter net loss of $1.3 million, significantly narrowed from the year-earlier loss of $5.4 million.