NYSE Amex Grants Enterprise Acquisition Corp. Extension to Regain Compliance with Continued Listing Standards

Enterprise Receives Qualified Audit Opinion Common to Special Purpose Acquisition Companies 


BOCA RATON, Fla., May 12  /PRNewswire-FirstCall/ -- Enterprise Acquisition Corp. (NYSE Amex: EST; Units: EST.U; Warrants: EST.WS) (the "Company") announced today that on May 5, 2009, it received notice from the NYSE Amex LLC (the "Exchange") indicating that it has accepted the Company's plan of compliance, which was timely submitted on February 17, 2009, and granted the Company an extension until August 11, 2009 to regain compliance with the Exchange's continued listing standards. The Company did not hold an annual meeting in 2008 and failed to comply with Section 704 of the NYSE Amex Company Guide. The Company will be subject to periodic review by Exchange Staff during the extension period.

The Company also announced today that its financial statements for the fiscal year ended December 31, 2008, included in the Company's Annual Report on Form 10-K filed on March 16, 2009, contained a going concern qualification similar to qualifications that have been received by many other special purposes acquisition companies. This announcement is required by NYSE Amex Company Guide Section 610(b), which requires separate disclosure of receipt of an audit opinion containing such qualification. This announcement does not represent any change or amendment to the Company's financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2008.

About Enterprise Acquisition Corp.

Located in Boca Raton, Florida, Enterprise Acquisition Corp. (http://www.enterpriseacq.com/) is a blank check company formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination with one or more operating businesses. The prospective target will not be limited to a particular industry.

Forward-Looking Statements

This press release may contain certain forward-looking statements including statements with regard to the future performance of the Company. Words such as "believes," "expects," "projects," "will" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties that are detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Media contact: Ezra Shashoua, Chief Financial Officer, 561-988-1700 

DATASOURCE: Enterprise Acquisition Corp.



CONTACT:  Ezra Shashoua, Chief Financial Officer, Enterprise Acquisition

Corp., [phone]



Web Site:  http://www.enterpriseacq.com/ 

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