Metro One Telecommunications, Inc. the renowned developer and provider of Enhanced Directory Assistance® ("EDA") and other telecom services, today announced here of the receipt of the Nasdaq Staff Deficiency Letter. The letter stated, according to the Company, that it no longer abide by the audit committee requirements of the Nasdaq, that is needed on an urgent basis for the continued listing set forth in Marketplace Rule 4350. 

Metro One Telecommunications, Inc. is an internationally famous developer and provider of Enhanced Directory Assistance and other information services. The Company is chiefly betrothed in the operation of call centers located throughout the length and breadth of the United States. The Company has excelled in handling over 300 million requests for information over the past two years. On the contrary, XRoads Solutions Group's expertise functions in the field of corporate finance, strategic and operational consulting and moreover in turnaround management. The XRoads has been conferred the responsibility of providing support to the Metro One management team through assistance towards the Company for achieving additional funding, to identify and secure additional revenue opportunities, and also to increase operational cash flow and reduce costs.  

The entire problem erupted according to the Company, with the resignation of Mr. Murray Swanson from the Board of Directors effective from the 5 th of June 2007 while forming a vacancy on the Company's Audit Committee. The letter was received following the breathtaking disclosure of the resignation. Although Mr. Murray's resignation, as has been acknowledged, was part of a change in the constitution of the Board and that was in connection with the first stage of a financing transaction that got closed on the same date of June 5, 2007. It is to be noted, that the Marketplace Rule has the need of that audit committees of Nasdaq issuers should have at least three independent members, while there only two independent members in the ongoing Audit Committee of the Company.

However, in order to recuperate the conformity, as per maintaining a steady reliance with the prescribed format of the Marketplace Rules the Metro One Telecommunications, Inc. has been provided a cure period in anticipation of the earlier of its next annual shareholders' meeting just after a year, on June 5, 2008. Or else in addition, if the following annual shareholders' meeting manages to be held before December 3, 2007, then the Company shall have to make clear of the compliance but no later than December 3, 2007.