Phoenix Footwear Looks to Gain Stock Listing Compliance

Phoenix Footwear Group, Inc. said that on Dec. 24, 2009, the company received notice from the NYSE Amex LLC that it has accepted the company's plan of compliance. The company had received a notice on Oct. 9, 2009 from the NYSE Amex LLC,
indicating that as of its quarter ended July 4, 2009, the company
failed to meet the continued listing standards of the NYSE Amex.

Specifically, the letter stated that the company was not in compliance
with Section 1003(a)(ii) of the NYSE Amex Company Guide, with
stockholders' equity of less than $4,000,000 and losses from continuing
operations and/or net losses in three of its four most recent fiscal
years.

Accordingly, the
Exchange has granted the company an extension until April 11, 2011 to
regain compliance with its continued listing standards. The company
will be subject to periodic review by the Exchange Staff during the
extension period. Failure to make progress consistent with the plan or
to regain compliance with the continued listing standards by the end of
the extension period could result in the company being delisted from
the NYSE Amex.