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NaviSite Receives Extension from NASDAQ to Regain Listing Compliance

December 16
15:41 2008

Web Host NewsANDOVER, Mass. – NaviSite, Inc. (NASDAQ: NAVI), a leading provider of enterprise hosting solutions and application services, today announced that following the submission of its definitive plan to achieve compliance with Marketplace Rule 4310(c) (3), the Company received a notification from the NASDAQ Listing Qualifications Staff on December 12, 2008, granting the Company an extension to February 19, 2009 to regain compliance with the rule.

Under the rule, the Company must have a minimum of $2,500,000 in stockholders’ equity, $35,000,000 market value of listed securities or $500,000 net income from continuing operations for the most recently completed fiscal year, or two of the three most recently completed fiscal years.

Under the terms of the extension, on or before February 19, 2009, the Company must furnish to the Securities and Exchange Commission and NASDAQ a publicly available filing evidencing the Company’s compliance with the rule. If the Company does not satisfy the terms of the extension, its securities will be subject to delisting.

About NaviSite
NaviSite is a leading provider of enterprise hosting and application services. Customers depend on NaviSite for application development, implementation and management on its web infrastructure platforms in 17 state-of-the-art data centers supported by more than 650 professionals. NaviSite provides customized and scalable solutions leveraging its broad range of application development capabilities, packaged software implementation expertise, deep portfolio of best in class technologies and a full suite of web-hosting and internet infrastructure options. For more information, please visit www.navisite.com.

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