Youbet.com receives NASDAQ notice

WOODLAND HILLS, California -- (PRESS RELEASE) -- Youbet.com, Inc. (NASDAQ: UBET) today announced that it has received a notice from The NASDAQ Capital Market stating that the minimum bid price of its common stock had fallen below $1.00 per share for 30 consecutive business days and, therefore, was not in compliance with the continued listing requirement set forth in NASDAQ Marketplace Rule 4310(c)(4). In accordance with NASDAQ Marketplace Rule 4310(c)(8)(D), the company has 180 calendar days, or until September 29, 2008, to regain compliance.

Youbet can regain compliance with the minimum bid price requirement if at any time before September 29, 2008, the bid price of the company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days. NASDAQ may, in its discretion, require the company to maintain the bid price of at least $1.00 per share for a period in excess of 10 consecutive business days before determining that it has demonstrated the ability to maintain long-term compliance. No assurance can be given that the company will regain compliance during this period.