LKI Receives Notice of Acceptance from NYSE

Lazare Kaplan International (LKI) announced Thursday that the New York Stock Exchange (NYSE) has accepted its plan of compliance, granting LKI an extension until December 31, 2009 to regain compliance with the NYSE's listing standards.

LKI had failed to submit its annual report for the fiscal year ending May 31, 2009 and had been handed a Deficiency Letter by the NYSE on September 16. The company then submitted to the exchange a plan outlining the steps it will take to bring LKI back into compliance.

LKI, a Diamond Trading Company (DTC) Sightholder based in New York City, will be subject to periodic review by the exchange during the extension period. If the company fails to adhere to its compliance plan it could be delisted from the exchange.