North American Scientific Regains Compliance on Nasdaq Capital Market

  
    
  
  
    
      North American Scientific, Inc. (Nasdaq:NASM), referred to herein as “the 
      Company”, today announced that it received a 
      letter from The Nasdaq Stock Market (“Nasdaq”) 
      dated October 24, 2008 indicating that the Company is in compliance with 
      the minimum $2.5 million stockholders’ equity 
      requirement for continued listing. As a result of regaining compliance 
      with Nasdaq Marketplace Rules, The Nasdaq Listing Qualifications Panel 
      has determined that the hearing scheduled for October 30, 2008 is no 
      longer necessary. The Company’s common stock 
      will continue to be listed on The Nasdaq Capital Market and will 
      continue to trade under the symbol “NASM.”
    
    
      In a related matter, the Company received a letter from Nasdaq dated 
      October 22, 2008 notifying the Company that Nasdaq has suspended 
      enforcement of the bid price and market value of publicly held shares 
      requirements through Friday, January 16, 2009. All companies presently 
      in a bid price or market value of publicly held shares compliance period 
      will remain at that same stage of the process and will not be subject to 
      being delisted for these concerns. These rules will be reinstated on 
      Monday, January 19, 2009 and the first relevant trade date will be 
      Tuesday, January 20, 2009. The Company is currently in a bid price 
      compliance period and as a result of this suspension, the Company will 
      have until May 26, 2009 to regain compliance by achieving a $1 closing 
      bid price for a minimum of 10 consecutive trading days.
    
    
      About North American Scientific
    
    
      North American Scientific, operating under the name NAS Medical, is a 
      leader in applying radiation therapy in the fight against cancer. Its 
      innovative products provide physicians with tools for the treatment of 
      various types of cancers. They include Prospera® 
      brachytherapy seeds and SurTRAK™ needles and 
      strands used primarily in the treatment of prostate cancer. In addition, 
      the Company has been gaining clinical experience with its first 
      generation ClearPath™ multi-channel catheter 
      breast brachytherapy devices since 2007, and intends to launch the 
      second generation devices in 2009. They are the only such devices 
      approved for both high dose and continuous release, or low dose, 
      radiation treatments. The devices are designed to provide flexible, 
      precise dose conformance and an innovative delivery system that is 
      intended to improve the delivery of brachytherapy for the treatment of 
      breast cancer. Please visit www.nasmedical.com 
      for more information.
    
    
      Statements included in this release that are not historical facts may 
      be considered forward-looking statements that are subject to a variety 
      of risks and uncertainties. There are a number of important factors that 
      could cause actual results to differ materially from those expressed in 
      any forward-looking statements made by the Company including, but not 
      limited to, the impact of competitive products and pricing, 
      technological changes, changes in relationships with strategic partners 
      and dependence upon strategic partners for the performance of critical 
      activities under collaborative agreements, the ability of the Company to 
      successfully directly market and sell its products, uncertainties 
      relating to patent protection and regulatory approval, the stable supply 
      of appropriate isotopes, research and development estimates, market 
      opportunities, risks associated with strategic opportunities or 
      acquisitions the Company may pursue and the risk factors included in the 
      Company’s filings with the Securities and 
      Exchange Commission. Any forward-looking statements contained in this 
      news release speak only as of the date of this release, and the Company 
      undertakes no obligation to revise or update any forward-looking 
      statements, whether as a result of new information, future results or 
      otherwise.