LONDON, June 27, 2002 (PRIMEZONE) -- Since the initial public offering in 1997, the American Depository Shares (ADS) of Virgin Express Holdings Plc have been traded on the Nasdaq National Market (Nasdaq:VIRGY), while the International Depository Shares (IDS) have been listed on Euronext Brussels (Euronext Brussels: VIRE).
Over the past years the listing requirements, traded volume, liquidity and administrative costs of the Nasdaq National Market are no longer adapted to the needs of the Company. Therefore, Virgin Express Holdings Plc has chosen to transfer the listing of its ADSs to the OTC Bulletin Board market maker quotation system as from June 28, 2002.
This move does not affect the Company's IDS's listing which still remains quoted on the Euronext Brussels.