The following statement was issued by Lineo this afternoon . . .

Lineo, Inc., a leading innovator in embedded systems, real-time and high availability solutions, today filed a request with the SEC to pull Lineo's S-1 registration statement.

Following the advice of Lineo's board of directors, Lineo determined that the current market conditions are not conducive to an IPO at this time. To keep Lineo's S-1 registration statement current with the SEC would require Lineo to consistently update the information. This process would continue to give Lineo's competitors access to Lineo's financial information and business plans. Additionally, keeping the registration statement on file would incur unnecessary expense.

Lineo continues to experience growth despite the overall slow down of the technology market and to this point has met financial objectives each quarter. Additionally, Lineo plans to acquire strategic technologies and to continue expansion of Lineo's worldwide sales force.

 
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