updated 12/21/2010 7:46:37 AM ET 2010-12-21T12:46:37

LOS ANGELES, Dec. 21, 2010 (GLOBE NEWSWIRE) -- CyberDefender Corporation (Nasdaq:CYDE) ("CyberDefender"), a provider of Internet security software, utilities and remote technical support services that work together to maximize online safety for consumers, today announced that it has regained compliance with NASDAQ Listing Rule 5250(c)(1), based on the completion of its filings with the United States Securities and Exchange Commission of its amended annual report on Form 10-K/A for the period ended December 31, 2009, amended quarterly reports on Form 10-Q/A for the periods ended March 31, 2010 and June 30, 2010, and quarterly report on Form 10-Q for the period ended September 30, 2010. Upon completion of these filings, the Company believes it has met all requirements for continued listing on the Nasdaq Global Market.

"I would like to thank our entire team for their diligence in quickly addressing and resolving this matter," said CyberDefender Chief Executive Officer Gary Guseinov. "In appointing Grant Thornton as our auditor, we now have the infrastructure in place to support our anticipated financial growth as we work to bring our business to the next level. With these restatements firmly behind us, we expect to finish the year with strong financial results and are continuing to execute on our growth objectives to propel additional growth in 2011."

As previously announced, these restatements and reclassifications had no impact on CyberDefender's gross sales, GAAP revenue, cash position or gross profit for any of the abovementioned periods. CyberDefender does not expect these items to have any material impact on its operating results going forward.

About CyberDefender

CyberDefender is a provider of Internet security software, utilities and remote technical support services that work together to ensure maximum safety for consumers in a digital world. The company develops and markets antispyware/antivirus software and a remote, live technical support service. In addition, CyberDefender offers identity protection and computer optimization services. With millions of active users on its cloud based collaborative Internet security network, CyberDefender leverages the power of community to protect its customers from the rapidly growing number of new online threats every year. CyberDefender products are fully compatible with Microsoft Windows® XP, Vista®, and 7 Operating systems. All products are available at www.cyberdefender.com . Investor relations information is available at www.cyberdefendercorp.com .

Forward Looking Statements

Statements in this public announcement that are not statements of historical or current fact, including CyberDefender's statements regarding future growth and future business results, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause CyberDefender's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause CyberDefender's results to be materially different from the forward-looking statements include, but are not limited to, whether CyberDefender will be able to find financing as required and whether CyberDefender's revenues will eventually exceed its expenses. The forward-looking statements also are subject generally to other risks and uncertainties that are described from time to time in CyberDefender's reports and registration statements filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/.

CONTACT:  The Bohle Company
          Public Relations:
          Luis Levy
          (310) 785-0515 ext. 204

          The Piacente Group
          Investor Relations:  
          Kristen McNally 
          Lee Roth 
          (212) 481-2050 

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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