WorldHeart Receives Non-Compliance Letter From NASDAQ Stock Market



    
    WorldHeart Announces Resignation of Chief Financial Officer
    

    OAKLAND, Calif., July 1 /CNW/ -- (Nasdaq:   WHRT) -- World Heart
Corporation ("WorldHeart" or the "Corporation") announced today that, on June
25, 2008, WorldHeart received a notice from the NASDAQ Stock Market stating
that the Corporation does not comply with Marketplace Rule 4310(c)(7)(A) (the
"Rule").  This rule requires the Corporation to maintain a minimum market
value of publicly held shares ("MVPHS") of $1,000,000. Therefore, in
accordance with Marketplace Rule 4310(c)(8)(B), the Corporation will be
provided 90 calendar days, or until September 23, 2008, to regain compliance.
If, at any time before September 23, 2008, the MVPHS of the Corporation's
common shares are $1,000,000 or more for a minimum of 10 consecutive trading
days, Staff will provide a written notification that the Corporation complies
with the Rule.  If compliance with this Rule cannot be demonstrated by
September 23, 2008, Staff will provide a written notification that the
Company's securities will be delisted.  At that time, the Corporation may
appeal Staff's determination to a Listing Qualifications Panel.
    Separately, effective July 1, 2008, WorldHeart announced that David
Pellone has resigned as an employee of the Corporation, but will continue as a
consultant to the Corporation until approximately September 30, 2008.  As
approved by WorldHeart's Board of Directors, Mr. Pellone will be acting Vice
President, Finance and Chief Financial Officer during his time as a
consultant.  The Corporation will commence the process to find a new Chief
Financial Officer to allow for a smooth transition.  The WorldHeart Board and
Jal S. Jassawalla, WorldHeart's President and Chief Executive Officer, thank
David for his service, especially his dedication during the recapitalization
efforts recently announced.  "We appreciate David's contributions and look
forward to continuing to work with him during this transition period," said
Mr. Jassawalla.
    
    About World Heart Corporation
    
    WorldHeart is a developer of mechanical circulatory support systems with
broad-based next-generation technologies.  The Company is headquartered in
Oakland, California, USA with additional facilities in Salt Lake City, Utah
and Herkenbosch, The Netherlands.  WorldHeart's registered office is Ottawa,
Ontario, Canada.
    Any forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995
and include any statements regarding the Corporation's expectations with
respect to submitting a specific plan to achieve and sustain compliance with
The NASDAQ Capital Market listing requirements and the Corporation's ability
to maintain its NASDAQ listing if the plan is not accepted by NASDAQ, as well
as other statements that can be identified by the use of forward-looking
language, such as "believes," "feels," "expects," "may," "will," "should,"
"seeks," "plans," "anticipates," or "intends" or the negative of those terms,
or by discussions of strategy or intentions.  Investors are cautioned that all
forward-looking statements involve risk and uncertainties, including without
limitation: the Corporation's immediate need for additional capital, risks in
product development and market acceptance of and demand for the Company's
products; possible delisting from the NASDAQ Stock Market if compliance with
the listing standards, including the minimum Stockholders' Equity Standard is
not regained; and other risks detailed in the Corporation's filings with the
U.S. Securities and Exchange Commission, including without limitation its
Annual Report on Form 10-KSB  for the year ended December 31, 2007.
    THIS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICTITATION OF
AN OFFER TO BUY ANY SECURITY.  THE SHARES OFFERED HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR ANY STATE THEREOF
ABSENT REGISTRATION UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS OR AN APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.




For further information:

For further information: Mr. David Pellone, +1-510-563-4775, or Ms.
Peggy  Allman, +1-510-563-4721, both of World Heart Corporation Web Site:
http://www.worldheart.com

Organization Profile

WORLD HEART CORPORATION

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