Delisting Determination,The Nasdaq Stock Market, LLC,
December 12,2007, U.S. Energy Systems, Inc.
The Nasdaq Stock Market, LLC (the Exchange) has
determined to remove from listing the common
stock of U.S. Energy Systems, Inc.(the Company),
effective at the opening of business on December 24, 2007.
Based on a review of the information provided by
the Company, Nasdaq Staff determined that the
Company no longer qualified for listing on the
Exchange as it failed to comply with the following
Marketplace Rules: 4310(c)(14). The Company was notified
of Staffs determination on April 18, 2007, May 22, 2007,
and August 17, 2007. The Company requested a
review of the Staffs determination before the Listing
Qualifications Hearings Panel. Upon review of the
information provided by the Company,the Panel determined
that the Company did not qualify for inclusion on the
Exchange based on its failure to comply with
the following Marketplace Rules: 4310(c)(14). The
Company was notified of the Panels decision on
October 16, 2007 and trading in the Companys securities
was suspended on October 18, 2007. The Company did
not request a review of the Panels decision by
the Nasdaq Listing and Hearing Review Council.
The Listing Council did not call the matter for
review. The Panels Determination to delist the
Company became final on November 30, 2007.