Sharper Image Corporation Announces NASDAQ Delisting Notification

  
    
  
  
    
      Sharper Image Corporation (NASDAQ:SHRP) announced that on February 20, 
      2008 it received notification from the NASDAQ Stock Market indicating 
      that the staff of the NASDAQ Stock Market had determined, in accordance 
      with NASDAQ Marketplace Rules 4300, 4450(f) and IM-4300, that the Company’s 
      common stock should be delisted from the NASDAQ Stock Market in light of 
      the Company’s filing for protection under 
      Chapter 11 of the U.S. Bankruptcy Code and concerns about the residual 
      equity interest of the existing listed securities holders and the Company’s 
      ability to sustain compliance with all of NASDAQ’s 
      listing requirements. Trading in the Company’s 
      common stock will be suspended at the opening of business on February 
      29, 2008 unless the Company requests an appeal of NASDAQ’s 
      delisting decision. The Company does not intend to appeal NASDAQ’s 
      delisting decision and expects that its common stock may continue to 
      trade on the over the counter market following February 28, 2008.
    
    
      About Sharper Image
    
    
      The Sharper Image is a specialty retailer that is nationally and 
      internationally renowned as a leading source of new, innovative, 
      high-quality products that make life better and more enjoyable. The 
      Company's principal selling channels include 184 Sharper Image specialty 
      stores throughout the United States; the award-winning Sharper Image 
      monthly catalog; and its primary Web site, www.sharperimage.com. 
      The Company also has business-to-business sales teams for marketing its 
      exclusive and proprietary products for corporate incentive and reward 
      programs and wholesale to selected U.S. and international retailers.
    
    
      Forward-Looking Statements
    
    
      This release contains forward-looking statements within the meaning of 
      the Private Securities Litigation Reform Act of 1995. Such 
      forward-looking statements are based on the Company's current plans, 
      expectations, estimates, and projections about the specialty retail 
      industry and management's beliefs about the Company's future 
      performance. Words such as "anticipates," "expects," "intends," "plans," 
      "believes," "seeks," "estimates" or variations of such words and similar 
      expressions are intended to identify such forward-looking statements. 
      These statements are not guarantees of future performance and are 
      subject to risks and uncertainties that are difficult to predict and 
      which may cause the Company's actual results and performance to differ 
      materially from those expressed or forecasted in any such 
      forward-looking statements. Some of these risks and uncertainties are 
      discussed in the Company's Annual Report on Form 10-K for the year ended 
      January 31, 2007 under "Risk Factors". These risks include, among other 
      factors, the success of its new business strategy, its ability to 
      continue to find or develop and to offer attractive merchandise to 
      customers, the market potential for products in design, the success of 
      its advertising efforts, changes in business and economic conditions, 
      risks associated with its retail store, catalog and Internet operations, 
      and changes in the competitive environment in which it operates. Other 
      risks that the Company faces include, but are not limited to, the 
      following: (i) the ability of the Company to continue as a going 
      concern; (ii) the Company's ability to obtain court approval with 
      respect to motions in the Chapter 11 proceeding prosecuted by it from 
      time to time; (iii) the ability of the Company to develop, prosecute, 
      confirm and consummate one or more plans of reorganization with respect 
      to the Chapter 11 case; (iv) risks associated with third parties seeking 
      and obtaining court approval to terminate or shorten the exclusivity 
      period for the Company to propose and confirm one or more plans of 
      reorganization, for the appointment of a Chapter 11 trustee or to 
      convert the case to a Chapter 7 case; (v) the ability of the Company to 
      obtain and maintain normal terms with vendors and service providers; 
      (vi) the Company's ability to maintain contracts and leases that are 
      critical to its operations; and (vii) the potential adverse impact of 
      the Chapter 11 case on the Company's liquidity or results of operations. 
      Unless required by law, the Company undertakes no obligation to update 
      publicly any forward-looking statements. However, readers should 
      carefully review the statements set forth in the reports, which the 
      Company files from time to time with the Securities and Exchange 
      Commission, particularly its Annual Report on Form 10-K, its Quarterly 
      Reports on Form 10-Q and its Current Reports on Form 8-K.