, Files Appeal

LAS VEGAS--(BUSINESS WIRE)--Sept. 18, 2002--Paul-Son Gaming Corporation (Nasdaq:PSON) reported today that it has received notification from Nasdaq indicating that Paul-Son's securities are subject to delisting from the Nasdaq SmallCap Market because the Staff believes that Paul-Son's combination with Etablissements Bourgogne et Grasset constitutes a "reverse merger" under Rule 4330(f) and requires Paul-Son to satisfy Nasdaq's initial listing requirements in order to remain on the exchange. On September 16, 2002, Paul-Son's closing bid price was $3.50 per share, which is below the $4.00 minimum requirement for initial listing. Further, the Staff indicated in its letter that because Paul-Son is currently without a third independent director, Paul-Son does not meet the independent director and audit committee requirements for continued listing on Nasdaq under Rules 4350(c) and 4350(d)(2). In response to the notice, Paul-Son has requested a hearing before the Nasdaq Listing Qualifications Panel to appeal the Staff's classification of the combination transaction and to review the delisting determination. In addition, in light of Benoit Aucouturier's decision not to become a director, Holding Wilson, Paul-Son's controlling stockholder, is entitled under the combination agreement to a fourth nominee to Paul-Son's board and is currently searching for another individual to serve on the board of directors who will qualify as an independent director in accordance with the Nasdaq rules. Paul-Son's common stock will continue to be traded on the Nasdaq SmallCap Market pending the outcome of the panel hearing, although there can be no assurance that the panel will grant Paul-Son's request for continued listing....