Lancer Announces AMEX Acceptance of Revised Compliance Plan

Lancer Announces AMEX Acceptance of Revised Compliance Plan 


SAN ANTONIO, April 23  /PRNewswire-FirstCall/ -- Lancer Corporation  announced
today that the American Stock Exchange ("AMEX") has accepted Lancer's revised
plan to regain compliance with AMEX's continued listing standards (the "Plan").
 As announced on October 16, 2003, Lancer fell out of compliance with the AMEX
continued listing standards following Lancer's inability to file its quarterly
report for the second quarter of 2003 with the Securities and Exchange
Commission (the "SEC") on a timely basis, which violated Section 1003(d) of the
AMEX Company Guide.  Since that time, Lancer has been unable to file its
quarterly report for the third quarter of 2003 and its annual report for the
fiscal year 2003 on Form 10-K, and does not expect to file its quarterly report
for the first quarter of 2004 on a timely basis. Lancer expects to regain
compliance with the AMEX listing standards by having all of its periodic
reports filed with the SEC on or near June 30, 2004. Additionally, Lancer
continues to work with AMEX to identify ways in which Lancer's common stock
could resume trading prior to June 30, 2004.

By accepting the Plan, AMEX has provided Lancer with an extension of time in
order to regain compliance with the continued listing standards and will allow
Lancer to maintain its AMEX listing through the Plan period, subject to
periodic progress reviews by the AMEX staff.  If Lancer does not make progress
consistent with the Plan or regain compliance, the AMEX staff could initiate
delisting procedures.  Lancer intends to make all efforts to comply fully with
the Plan, although the Plan is ultimately contingent upon the completion of
financial audits and reviews by Lancer's new independent auditors.

This press release contains various forward-looking statements and information
that are based on management's belief as well as assumptions made by and
information currently available to management.  Although the Company believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove to have
been correct.  Such statements contain certain risks, uncertainty and
assumptions.  Should one or more of these risks materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from
those expected. 

DATASOURCE: Lancer Corporation



CONTACT:  Scott Adams of Lancer Corporation, [phone]



Web site:  http://www.lancercorp.com/ 

Copyright