Mirae Receives NASDAQ Notice

  
    
  
  
    
      Mirae Corporation (NASDAQ:MRAE) (the "Company") today announced it 
      received a Nasdaq Staff Deficiency Letter on April 14, 2008 indicating 
      that the Company's American Depositary Shares ("ADSs") have been trading 
      below the required minimum closing bid price of US$1.00 per share on 
      Nasdaq for the last 30 consecutive business days and as a result the 
      Company failed to comply with the minimum bid price requirement for 
      continued listing set forth in Nasdaq Marketplace Rule 4450(a)(5). In 
      accordance with Marketplace Rule 4450(e)(2), the Company has until 
      October 13, 2008 to regain compliance.
    
    
      As previously disclosed, the Company intends to voluntarily delist its 
      ADSs from the Nasdaq Global Market and deregister from the U.S. 
      Securities and Exchange Commission and, therefore, currently does not 
      have any plans to take steps to regain compliance with the minimum bid 
      price requirement under the Marketplace Rule.
    
    
      About Mirae Corporation
    
    
      Incorporated in the Republic of Korea in 1990, Mirae Corporation is a 
      manufacturer of semiconductor-related equipment and telecommunication 
      appliances and offers a broad range of products including handlers and 
      SMD replacement systems for sale in Korea and overseas markets. For 
      further information about Mirae Corporation, please visit its website at http://www.mirae.com.
    
    
      Forward-Looking Statement:
    
    
      Certain statements in this press release are "forward-looking 
      statements" within the meaning of the U.S. federal securities laws. 
      These forward-looking statements include, but are not limited to, 
      statements as to plans to delist from Nasdaq, deregister from the SEC 
      and plans not to regain compliance among others. These forward-looking 
      statements are based on our current assumptions, expectations and 
      projections about future events and subject to risks, uncertainties and 
      other factors that could cause actual results to differ materially from 
      future results expressed or implied by the forward-looking statements. 
      Many of these risks and uncertainties relate to factors that are beyond 
      our ability to control or estimate precisely, such as the effect of 
      general economic or political conditions, fluctuations in exchange rates 
      or interest rates, increases or changes in competition, our ability to 
      implement and complete successfully our plans and strategies, changes in 
      our liquidity needs, the actions of competitors and third parties, and 
      other factors discussed in our public filings. Investors are cautioned 
      not to place undue reliance on these forward-looking statements which 
      speak only as of the date of this press release. We do not undertake any 
      obligation to release publicly any revisions to these forward-looking 
      statements to reflect new, changing or unanticipated events or 
      circumstances after the date of this press release, except as may be 
      required by applicable securities law.