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Zoom Technologies, Inc.: NASDAQ Approves Listing on NASDAQ Capital Market of Zoom Technologies, Inc. After Completion of Share

^{Published on 2009-09-17 09:59:17 - Market Wire}
 

BOSTON, MA--(Marketwire - September 17, 2009) - Zoom Technologies, Inc. (NASDAQ: [ ZOOM ]) announced that NASDAQ has approved its continued listing on the NASDAQ Capital Market upon the closing of its share exchange with Gold Lion Holding Ltd. Zoom shareholders approved this transaction at its recent special meeting, and the transaction is expected to close on September 22, 2009. In addition, Zoom Technologies will be issuing a dividend consisting of 100% of the shares of its operating subsidiary, Zoom Telephonics, to its shareholders of record as of September 21, 2009 in connection with the planned spin-off of Zoom Telephonics from Zoom Technologies and the anticipated listing of Zoom Telephonics on the OTC Bulletin Board.

About Gold Lion Holding Company

Gold Lion is a holding company with subsidiaries that engage in the manufacturing, research and development, and sales of electronic and telecommunication products for 3rd generation mobile phones, wireless communication circuitry, GPS equipment, and related software products. Gold Lion's subsidiary, Jiangsu Leimone, owns a majority stake of TCB Digital which offers highly customized and high quality Electronic Manufacturing Service (EMS) for Original Equipment Manufacturer (OEM) customers and also designs and manufactures its own brand of mobile phones under the Leimone brand.

About Zoom Technologies

Zoom Technologies, Inc. designs, produces, markets, and supports communication products under the Zoom, Hayes®, and Global Village® brands. Zoom is headquartered in Boston, and its European sales and support center is in the UK. Zoom markets its products in over forty countries, and provides multi-lingual support from its offices in Boston and the UK. For more information about Zoom and its products, please see [ www.zoom.com ].

Forward-Looking Statements

This release contains forward-looking information relating to Zoom's plans, expectations, and intentions, including statements relating to Zoom's acquisition and spinoff plans. Actual results may be materially different from expectations as a result of known and unknown risks, including the possibility that Zoom's acquisition of Gold Lion Holding Ltd. will not occur and other risks set forth in Zoom's filings with the Securities and Exchange Commission. Zoom cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Zoom expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Zoom's expectations or any change in events, conditions or circumstance on which any such statement is based.