VisionChina Media to Present at 2008 Sterne Agee China Internet & Technology Investment Tour

BEIJING, March 14 /Xinhua-PRNewswire/ -- VisionChina Media Inc. , one of China's largest mass transportation mobile television advertising networks, today announced that it will participate in the 2008 Sterne Agee China Internet & Technology Investment Tour. Ms. Dina Liu, VisionChina's chief financial officer will present at 1:30 PM (Beijing/Hong Kong time) on Monday, March 17th, 2008 at the Grand Hyatt Hotel in Beijing. The tour, covering the Internet value chain in China, extends through the end of the week, taking place in Beijing from March 17th to March 19th, and moving to Shanghai for March 20th and 21st.

About VisionChina Media Inc.

VisionChina operates an out-of-home advertising network on mass transportation systems, including buses and subways that reach approximately 26 million viewers each day in China, according to CTR Market Research. As of December 31, 2007, VisionChina's advertising network included over 41,400 mobile digital displays on mass transportation systems in 15 of China's most affluent cities, including Beijing, Guangzhou and Shenzhen. VisionChina has the unique ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports and other entertainment programming. For more information, please visit http://www.visionchina.cn/ .

For Further information, please contact: In China: Mr. AJ Wang Senior IR Manager, VisionChina Media Inc. Tel: +86-10-8418-6339 Email: aj.wang@visionchina.cn Mrs. Helen Plummer Ogilvy Public Relations Worldwide (Beijing) Tel: +86-10-8520-3090 Email: helen.plummer@ogilvy.com In the United States: Mr. Jeremy Bridgman Ogilvy Public Relations Worldwide (New York) Tel: +1-212-880-5363 Email: jeremy.bridgman@ogilvypr.com

VisionChina Media Inc.

CONTACT: In China: Mr. AJ Wang, Senior IR Manager of VisionChina Media
Inc., +86-10-8418-6339, or aj.wang@visionchina.cn; Or Mrs. Helen Plummer of
Ogilvy Public Relations Worldwide (Beijing), +86-10-8520-3090, or
helen.plummer@ogilvy.com; Or In the United States: Mr. Jeremy Bridgman of
Ogilvy Public Relations Worldwide (New York), +1-212-880-5363, or
jeremy.bridgman@ogilvypr.com

Web Site: http://www.visionchina.cn/

Telestone Technologies Corporation to Announce Fourth Quarter and Full Year 2007 Financial Results on March 24, 2008

BEIJING, March 14 /Xinhua-PRNewswire-FirstCall/ -- Telestone Technologies Corporation Ltd. ("Telestone") , a leading developer and provider of wireless communication coverage solutions based in the People's Republic of China, today announced that it will release financial results for the quarter and full year ended December 31, 2007 on March 24, 2008 following the close of the US markets.

Telestone's senior management team will then host a conference call and audio webcast at 8:00 am U.S. Eastern Time/5:00 am U.S. Pacific Time/8:00 pm Beijing time on March 25, 2008. The conference call will last for approximately one hour.

U.S. callers please dial: +1 888 935 4577 (toll free) European callers please dial: +44 (0) 20 7806 1957 Asian callers please dial: +852 3002 1356 Passcode: 8149391 A replay will be available after the end of the call until March 29th. U.S. callers please dial: +1 718 354 1112 European callers please dial: +44 (0)20 7806 1970 Asian callers please dial: +852 3002 1607 Passcode: 8149391

A live audio webcast of the conference call will also be available from the company's website at http://www.telestone.com/ .

About Telestone Technologies Corporation

Telestone provides wireless communications coverage solutions primarily in the PRC. These solutions include products such as repeaters, antennas and radio accessories. Telestone also provides services that include project design, project management, installation, maintenance and other after-sales services. Telestone currently has approximately 800 employees.

Safe Harbor Statement

Statements about Telestone's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward-looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The Telestone's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, Telestone undertakes no obligation to update forward-looking statements.

For further information contact: Telestone Technologies Corporation Ltd. Nick Li Secretary of the Board Tel: +86-10-8367-0088 x1201 Email: nickl@telestone.com Fang Cui Tel: +86-10-8367-0088 x1202 Email: cuifang@telestone.com FD Beijing Julian Wilson Tel: +86-10-8591-1951 Email: Julian.Wilson@fd.com Peter Schmidt Tel: +86-10-8591-1953 Email: peter.schmidt@fd.com

Telestone Technologies Corporation Ltd.

CONTACT: Nick Li, Secretary of the Board at Telestone Technologies
Corporation Ltd., +86-10-8367-0088 x1201, or nickl@telestone.com; Fang Cui of
Telestone Technologies Corporation Ltd., +86-10-8367-0088 x1202, or
cuifang@telestone.com; Julian Wilson of FD Beijing, +86-10-8591-1951, or
Julian.Wilson@fd.com; Peter Schmidt of FD Beijing, +86-10-8591-1953, or
peter.schmidt@fd.com, all for Telestone Technologies Corporation Ltd.

Web site: http://www.telestone.com/

Longtop Announces Completion of Swift Messaging Process Installation with China Development Bank

XIAMEN, China, March 14 /Xinhua-PRNewswire/ -- Longtop Financial Technologies Limited ("Longtop") (NYSE: "LFT"), a leading software developer and solutions provider targeting the financial services industry in China, today announced the completion of its implementation of the SWIFT Messaging Process Systems for China Development Bank ("CDB").

SWIFT messaging is the most important clearance and telecommunication tool for worldwide inter-bank messaging. Utilizing its strong experience in the international business applications sector, Longtop has developed a proprietary 'Longtop Message Process System ("MPS")' for the SWIFT messaging protocol. Currently, Longtop's MPS solution is the industry leader in China, having captured the largest market share with successful application in several banks.

Lian Weizhou, CEO of Longtop, commented:

"This was the first contract completed between Longtop and CDB, representing not only a new client for us, but also their recognition and trust in our software development capabilities for financial clients. We have successfully implemented our industry-leading standardized SWIFT solution to meet the needs of CDB. As we strengthen our relationship, we will look to create opportunities for more cooperation between Longtop and CDB in the future."

About Longtop Financial Technologies Limited

Longtop is a leading software development and solutions provider targeting the financial services industry in China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. Longtop has five solution delivery centers, three research centers and thirty four service centers located in 20 provinces throughout China. Longtop was founded in 1996 by Jia Xiaogong, our Chairman and Lian Weizhou, our CEO, as a system integration company focusing on the financial services industry in China and made the transition to a software and solutions provider in 2001. For more information, please visit: http://www.longtop.com/ .

For more information, please contact: Longtop Financial Technologies Limited Huiying Yang Tel: +86-592-239-6888 x1312 Email: ir@longtop.com Financial Dynamics Julian Wilson Tel: +86-10-8591-1951 Email: julian.wilson@fd.com Peter Schmidt Tel: +86-10-8591-1953 Email: peter.schmidt@fd.com

Longtop Financial Technologies Limited

CONTACT: Longtop Financial Technologies Limited - Huiying Yang,
+86-592-239-6888 x1312, or ir@longtop.com; Financial Dynamics - Julian Wilson,
+86-10-8591-1951, or julian.wilson@fd.com; or Peter Schmidt, +86-10-8591-1953,
or peter.schmidt@fd.com, both for Longtop

Web Site: http://www.longtop.com/

Expedia, Inc. Expands Fleet with Acquisition of CarRentals.comWorld's leading online travel company and top online car rental agency combine the power of their brands to benefit value-minded customers

BELLEVUE, Wash., March 14 /PRNewswire-FirstCall/ -- Expedia, Inc., the world's leading online travel company, today announced the acquisition of CarRentals.com, the premier online car rental marketing and retail firm offering a diverse selection of car rentals direct to consumers. Under this new agreement, CarRentals.com will continue to operate in its current form and will report as a business unit directly into Expedia, Inc.'s leading discount travel brand Hotwire(R).

"CarRentals.com complements the success of the Hotwire rental car offering and further enables us to bring choice and value to budget-conscious consumers," explains Eric Grosse, general manager of Hotwire.com(TM).

"Combining our car rental expertise along with the leadership and discount travel expertise of the Hotwire Team will propel CarRentals.com into its next phase of growth," said Lee Carlin, co-president of CarRentals.com.

"CarRentals.com's independence, philosophy, and commitment to both customers and vendors will remain unchanged," added David Morton, co-president of CarRentals.com.

Based in New Jersey, CarRentals.com is the premier car rental booking company on the web, offering advanced technologies to both consumers and rental car partners. Terms of the deal were not disclosed. Expedia(R) confirmed that it expects to make no material changes to CarRentals.com operations, its employee base or brand name, and the senior leadership team will remain intact. In addition, supply partners to both Hotwire and CarRentals.com will continue under current working relationships with each brand, respectively.

About Hotwire

Hotwire.com is a leading discount travel site with low rates on airline tickets, hotel rooms, rental cars, cruises, and vacation packages. Launched in 2000, Hotwire negotiates deep discounts from its travel suppliers to help travelers book unsold airline seats, hotel rooms, and rental cars at significant savings. J.D. Power and Associates 2007 Independent Travel Web Site Satisfaction Study(SM) recognized Hotwire for ranking "Highest in Customer Satisfaction Among Independent Travel Web Sites, Two Years in a Row." Hotwire is an operating company of Expedia, Inc. . CST: 2053390-40. NST: 20003-0209. For more information, visit http://www.hotwire.com/.

About Expedia, Inc.

Expedia, Inc. is the world's leading online travel company, empowering business and leisure travelers with the tools and information they need to easily research, plan, book and experience travel. Expedia, Inc. also provides wholesale travel to offline retail travel agents and in-destination concierge service and activity desks for travelers. The Expedia, Inc. portfolio of brands includes: Expedia.com(R), hotels.com(R), Hotwire(R), Expedia(R) Corporate Travel, TripAdvisor(R), Expedia Local Expert(TM), Classic Vacations(R) and eLong(TM). Expedia, Inc.'s companies operate more than 50 global points of sale with sites in North America, South America, Latin America, Europe, Middle East, Africa and Asia Pacific. Expedia, Inc. is a component of the S&P 500 index. For more information, visit http://www.expediainc.com/ .

Expedia and Expedia.com are either registered trademarks or trademarks of Expedia, Inc. in the U.S. and/or other countries. Classic Vacations is either a trademark or registered trademark of Classic Vacations, LLC in the U.S. and/or other countries. hotels.com is either a trademark or registered trademark of hotels.com, L.P., a subsidiary of hotels.com in the U.S. and/or other countries. Hotwire is either a trademark or registered trademark of Hotwire, Inc. in the U.S. and/or other countries. TripAdvisor is either a trademark or registered trademark of TripAdvisor, LLC in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners.

Expedia, Inc.

CONTACT: Karmen Johnson of Expedia, Inc., +1-425-679-4317,
press@expedia.com

Web site: http://www.expedia.com/
http://www.expediainc.com/

Microsoft Announces Acquisition of RaptRapt solutions will provide Microsoft with advanced technology and services for digital media publishers.

REDMOND, Wash., March 14 /PRNewswire-FirstCall/ -- Microsoft Corp. today announced plans to acquire Rapt Inc., the leading provider of advertising yield management solutions for digital media publishers. Rapt's technology, along with its information and advisory services offerings, will become key components of the Atlas Publisher Suite, part of Microsoft's Advertiser and Publisher Solutions Group. With the inclusion of Rapt, the Atlas Publisher Suite allows Microsoft to provide its customers with integrated asset and inventory management, forecasting, yield and sales management, and ad delivery and operations.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)

"Online publishers have a complex array of needs, and they require more attentive and sophisticated partners to help them solve these challenges," said Brian McAndrews, senior vice president of the Advertiser and Publisher Solutions Group at Microsoft. "With this acquisition, we are uniquely positioned to help publishers succeed on all fronts. Our end-to-end solution will include workflow tools, ad package and delivery, turnkey distribution, content partnerships, and yield management and optimization."

A key product that will emerge from the marriage of Rapt's planning capabilities and Atlas' campaign management capabilities is an integrated publisher sales workflow solution. This solution will improve upon the existing industry offerings for publishers' sales teams when used with Rapt's existing pricing analytics, inventory management and business intelligence products on top of Atlas' ad serving platform.

"The opportunity to join forces with Microsoft and to see our technology flourish inside a much larger platform was too compelling to pass up," said Tom Chavez, founder, president and CEO of Rapt. "We're confident that, with Microsoft, we can continually improve publisher results and aggressively grow our combined client base that already includes over half of the top 25 U.S. publishers."

About Rapt

Rapt Inc. is the industry standard in advertising yield management solutions. Rapt helps advertising supported businesses realize full value from their media assets through a unique combination of technology, services, and market insight. Rapt's technology enables media companies to better price, predict, and provision advertising assets; Rapt's services help drive best-practice yield strategy and operations; and Rapt's information and data offerings deliver unique insight into supply, demand, and value dynamics across the digital media industry. Rapt's client base includes CNET Networks, Dow Jones & Company, Expedia, Fox Interactive Media, Microsoft, MTV Networks, NBC Universal, The New York Times Company, Reuters, USA TODAY, and others. More about Rapt can be found at http://www.rapt.com/.

About Microsoft Advertiser and Publisher Solutions

Microsoft Advertiser and Publisher Solutions (APS) provides world-class advertising platforms and tools for advertisers, agencies and publishers. Its mission is to make buying and selling media simpler, smarter and more cost-effective across media and devices in the Microsoft network of properties and beyond. The APS portfolio includes Microsoft adCenter, Atlas, DRIVEpm, Massive Inc. and ScreenTonic. APS businesses span search, display and emerging media including mobile, gaming, video on demand and IPTV. More information can be found at http://advertising.microsoft.com/.

About Microsoft

Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com Microsoft Corp.

CONTACT: Red Consultancy, +1-212-529-7700, aps@redconsultancy.com, for
Microsoft Corp.

Web site: http://www.microsoft.com/

McAfee, Inc. Announces First Quarter 2008 Earnings Conference Call

SANTA CLARA, Calif., March 14 /PRNewswire-FirstCall/ -- McAfee, Inc. will host a conference call to report its first quarter 2008 earnings results on Thursday, April 24, at 4:30 p.m. EDT. The earnings release and accompanying financial information will be released after market close and will be available on the company's Web site.

All interested parties are invited to listen to McAfee's Chief Executive Officer and President, Dave DeWalt, and Chief Operating Officer and Chief Financial Officer, Eric Brown, present earnings results, business highlights, and guidance.

To access the conference call, please dial 1-800-809-7467 (U.S. toll-free) or 1-706-679-4671 (international). The passcode is 37792510. Participants should dial-in at least 15 minutes prior to the start of the call. A replay of the call will be available until May 8 by dialing 1-800-642-1687 (U.S. toll-free) or 1-706-645-9291 (international).

Investors will have the opportunity to listen to the conference call and the replay on the Internet through McAfee's Investor Relations Web site at http://investor.mcafee.com/. To listen to the live call, please go to the Web site at least 15 minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available on this site shortly after the call.

About McAfee, Inc.

McAfee, Inc., headquartered in Santa Clara, California, is the world's largest dedicated security technology company. It delivers proactive and proven solutions and services that secure systems and networks around the world, allowing users to browse and shop the Web securely. With its unmatched security expertise and commitment to innovation, McAfee empowers home users, businesses, the public sector and service providers by enabling them to comply with regulations, protect data, prevent disruptions, identify vulnerabilities and continuously monitor and improve their security. http://www.mcafee.com/.

McAfee and/or other noted McAfee related products contained herein are registered trademarks or trademarks of McAfee, Inc., and/or its affiliates in the US and/or other countries. McAfee Red in connection with security is distinctive of McAfee brand products. Any other non-McAfee related products, registered and/or unregistered trademarks contained herein is only by reference and are the sole property of their respective owners. (C) 2008 McAfee, Inc. All rights reserved.

McAfee, Inc.

CONTACT: Investors, Brandie Claborn, +1-972-987-2124,
brandie_claborn@mcafee.com, or Tracy Ross, +1-408-346-5965,
tracy_ross@mcafee.com, both of McAfee, Inc.

Web site: http://www.mcafee.com/

SkillSoft Reports Fourth Quarter and Fiscal 2008 Results

NASHUA, N.H., March 14 /PRNewswire-FirstCall/ --

-- FOURTH QUARTER REVENUE OF $77.5 MILLION AND ANNUAL REVENUE OF $281.2 MILLION -- ANNUAL NET INCOME OF $60.0 MILLION -- ANNUAL ADJUSTED EBITDA OF $79.7 MILLION -- DEFERRED REVENUE INCREASES 50% YEAR OVER YEAR -- CASH, RESTRICTED CASH AND INVESTMENTS OF $93.5 MILLION FINANCIAL TARGETS FOR FISCAL 2009 ANNOUNCED -- TARGETED ANNUAL REVENUE OF $328M - $336M -- TARGETED ANNUAL REVENUE GROWTH OF 17% - 20% -- TARGETED ANNUAL ADJUSTED NET INCOME OF $35M - $38M -- TARGETED ANNUAL ADJUSTED EBITDA OF $96M - $100M

SkillSoft PLC , a leading Software as a Service (SaaS) provider of on-demand e-learning and performance support solutions for global enterprises, government, education and small to medium-sized businesses, today announced financial results for its fiscal 2008 fourth quarter and its fiscal 2008 year ended January 31, 2008.

Fiscal 2008 Fourth Quarter Results

The Company reported total revenue of $77.5 million for its fourth quarter of the fiscal year ended January 31, 2008 (fiscal 2008), which represented a 34% increase over the $57.7 million reported in its fourth quarter of the fiscal year ended January 31, 2007 (fiscal 2007). The increase in revenue was primarily attributable to the achievement of higher than planned retention and renewal rates, incremental revenues of $4.6 million related to the amortization of deferred revenue acquired by the Company in the NETg acquisition and incremental revenues from NETg customer contracts renewed post-acquisition. The Company's deferred revenue at January 31, 2008 was $219.0 million compared to $146.0 million at January 31, 2007. The increase in deferred revenue reflects additional order intake and billings from SkillSoft's pre-NETg acquisition customer base, incremental billings from customers acquired from the NETg acquisition, and approximately $1.2 million of unamortized deferred revenue acquired by the Company in the NETg acquisition.

On a US generally accepted accounting principles (US GAAP) basis, the Company's net income was $34.3 million, or $0.33 per basic share and $0.31 per diluted share, for the fiscal 2008 fourth quarter. SkillSoft reported net income of $8.2 million or $0.08 per basic and diluted share, for the fiscal 2007 fourth quarter. Net income for the fiscal 2008 fourth quarter includes the benefit of a reduction in the Company's deferred tax valuation allowance of $17.6 million, or $0.17 per basic share and $0.16 per diluted share and a benefit associated with a reduction in the Company's effective tax rate of $10.2 million, or $0.10 per basic share and $0.09 per diluted share. The Company's results include restatement expenses of less than $20,000 in the fourth quarter of fiscal 2008 compared to $0.5 million in the fourth quarter of fiscal 2007. In addition, the Company incurred the following merger and integration related expenses, income from discontinued operations, and non- cash charges in the fiscal 2008 fourth quarter:

Merger and integration related expenses / income from discontinued operations:

-- Merger and integration-related expenses of $1.2 million in the fourth quarter of fiscal 2008. -- $0.1 million of income from discontinued operations, net of tax, in the fourth quarter of fiscal 2008. Non-Cash Charges: -- Stock based compensation expense of $1.9 million in the fiscal 2008 fourth quarter as compared to $0.9 million in the fourth quarter of fiscal 2007. -- Amortization of intangible assets and capitalized software development costs of $5.0 million in the fiscal 2008 fourth quarter as compared to $0.6 million in the fourth quarter of fiscal 2007. -- Amortization of deferred financing costs of $0.3 million. -- Depreciation and amortization of $1.5 million in the fiscal 2008 fourth quarter as compared to $1.6 million in the fourth quarter of fiscal 2007. -- Non-cash benefit for income tax of $25.0 million in the fiscal 2008 fourth quarter as compared to a $1.8 million non-cash tax provision in the fourth quarter of fiscal 2007.

"We are pleased with the results of our fourth quarter NETg customer renewal efforts as well as the overall customer reception of the acquisition as indicated by the Company's combined dollar renewal rate, which is discussed later in this release, of 102% for fiscal 2008," commented Chuck Moran, President and Chief Executive Officer. "In fiscal 2009 we are measuring our performance internally based on growth in our adjusted EBITDA, as defined in our bank credit facility. As discussed further below, we are targeting to grow adjusted EBITDA at approximately 20% to 25% over the fiscal 2008 amount. We feel this metric reflects a more meaningful view of the operating cash generation the Company is targeting which is the underlying strategy driving activities within SkillSoft. We will also continue to invest in revenue growth initiatives while seeking to achieve our incremental operating margin less intangible amortization expense and merger-related expense target of 30% to 40% on annual revenue over the $230 million level. As a reminder, we expect to achieve 20% operating profit less intangible amortization expense on the first $230 million of revenue."

Gross margin was 86% for the Company's fiscal 2008 fourth quarter as compared to 88% for its fiscal 2007 fourth quarter. The 2% decrease in gross margin for the fiscal 2008 fourth quarter is primarily due to the increase in amortization of intangible assets related to acquired technology and capitalized software development costs of $1.7 million in the fiscal 2008 fourth quarter as compared to $0.2 million in the fiscal 2007 fourth quarter.

Cost of revenue in the fiscal 2008 fourth quarter included additional hosting platform maintenance expenses to support the acquired NETg customer base as well as incremental expenses related to the transition of NETg's customers to the SkillSoft hosting platform and for the product support obligations assumed in the acquisition. These incremental hosting and infrastructure expenses will largely be incurred over the next two fiscal quarters, with lower levels of costs forecasted for two additional quarters until the transition is complete. The gross margin is impacted mainly by the mix of royalty-bearing content and the costs incurred to augment the hosting capacity needed to meet our existing and new customer solution requirements.

Research and development expenses increased to $14.3 million in the fiscal 2008 fourth quarter from $10.9 million in the fiscal 2007 fourth quarter. This increase was primarily due to the inclusion of expenses associated with additional personnel, the engagement of contractors and the outsourcing expenses related to supporting acquired customer contracts and product obligations assumed in the NETg acquisition. A portion of these incremental costs are attributed to the NETg integration initiatives. While these transitional costs are largely complete, we anticipate that continued investment in content and software development efforts is required to support additional content and platform initiatives.

Sales and marketing expenses increased to $26.0 million in the fiscal 2008 fourth quarter from $22.5 million in the fiscal 2007 fourth quarter. This increase was primarily due to additional direct sales, tele-sales, and sales support personnel, as well as incremental commission and marketing expenses resulting from increased order intake and billings from SkillSoft's base business and from the acquired NETg customer base. We plan to continue to invest in sales distribution, field support and marketing efforts to support the increased number of customers and to build additional customer capacity.

General and administrative expenses increased to $9.1 million in the fiscal 2008 fourth quarter compared to $6.8 million in the fiscal 2007 fourth quarter. This increase was primarily due to the inclusion of expenses associated with additional personnel, the engagement of contractors and the procurement of professional services that were required to support the transition and integration activities resulting from the NETg acquisition as compared to the fiscal 2007 fourth quarter. It is anticipated that continued investment in personnel and professional services will be required to support both operational and strategic initiatives.

Operating expenses for the fiscal 2008 fourth quarter include approximately $1.9 million of stock-based compensation expense. The allocation of stock-based compensation expense for the fiscal 2008 fourth quarter was as follows: Cost of revenue, $84,000; Research and development, $299,000; Sales and marketing, $602,000; and General and administrative, $958,000. By comparison, operating expenses for the fiscal 2007 fourth quarter included approximately $0.9 million of stock-based compensation expense. The allocation of stock-based compensation expense for the fiscal 2007 fourth quarter was as follows: Cost of revenue, $59,000; Research and development, $134,000; Sales and marketing, $237,000; and General and administrative, $477,000.

The SEC staff has not closed its informal investigation concerning the option granting practices at SmartForce for the period beginning April 12, 1996 through July 12, 2002, prior to its merger in September 2002 with SkillSoft. The restatement charges relating to the ongoing SEC investigation were less than $20,000 in the fiscal 2008 fourth quarter as compared to $0.5 million in the fiscal 2007 fourth quarter.

Merger and integration related expenses for the fiscal 2008 fourth quarter were $1.2 million. Compensation and benefits costs for transition employees represented approximately 40% of these costs, and the remaining 60% related primarily to services, travel and administrative costs associated with transitioning the NETg operations to SkillSoft and meeting NETg customer obligations. Merger and integration related expenses in fiscal 2009 will largely be incurred over the first two quarters with lower levels for two additional quarters until these customer obligations are complete and the NETg business is fully integrated into SkillSoft's operations. We expect merger and integration related expenses over subsequent quarters to decline as compared to the quarter ended January 31, 2008 as different phases of the transition are completed.

The Company's interest income and other income / (expense) increased to $1.8 million for the fiscal 2008 fourth quarter as compared to $1.3 million for the fourth quarter of fiscal 2007. This increase was primarily due to the gain on foreign exchange. The Company's interest expense increased to $4.4 million for the fiscal 2008 fourth quarter as compared to $0.1 million for the fourth quarter of fiscal 2007. This increase relates to interest on the $200 million of debt incurred in connection with the NETg acquisition.

SkillSoft had approximately $93.5 million in cash, cash equivalents, short-term investments, restricted cash and long-term investments as of January 31, 2008 as compared to $127.8 million as of January 31, 2007. This decrease primarily reflects cash used, net of cash acquired, of $264 million in connection with the NETg acquisition. This decrease was partially offset by cash provided by operations of $32.6 million, net borrowings under long- term debt of $194.1 million, and the proceeds from the exercise of stock options and employee stock purchase activity of $11.9 million.

In order to adequately assess the Company's collection efforts, taking into account the seasonality of the Company's business, the Company believes that it is most useful to compare current period days sales outstanding (DSOs) to the prior year period. Given the quarterly seasonality of bookings, the deferral from revenue of subscription billings may increase or decrease the DSOs on sequential quarterly comparisons.

SkillSoft's DSOs were in the targeted range for the fiscal 2008 fourth quarter. On a net basis, which considers only receivable balances for which revenue has been recorded; DSOs were 16 days in the fiscal 2008 fourth quarter as compared to 12 days in the fiscal 2007 fourth quarter and 13 days in the third quarter of fiscal 2008. On a gross basis, which considers all items billed as receivables, DSOs were 208 days in the fiscal 2008 fourth quarter compared to 151 days in the fiscal 2007 fourth quarter and 118 days in the third quarter of fiscal 2008. Gross DSOs and net DSOs increased year over year by 38% and 33% respectively, while deferred revenue increased 50% for the same period reflecting the significantly higher seasonal booking impact of the combined Company in the fourth quarter of fiscal 2008 compared to SkillSoft stand-alone booking in the fourth quarter of fiscal 2007.

Fiscal 2008 Full Year Results

For the fiscal year ended January 31, 2008, the Company reported revenue of $281.2 million, which represented a 25% increase over the $225.2 million reported for the fiscal year ended January 31, 2007. Fiscal 2008 revenue includes approximately $40.0 million attributable to NETg, which is comprised of approximately $24.0 million of amortization of the deferred revenue acquired by the Company in the NETg acquisition in the fiscal 2008 second quarter and approximately $16.0 million of revenue from NETg customer contracts which were renewed or had installment billings post-acquisition. Fiscal 2007 revenue also includes approximately $5.0 million of amortization of legacy deferred revenue from the Retail Certification segment (SmartCertify business) as compared to $0.2 million in fiscal 2008. Therefore, SkillSoft organic revenue, excluding the $40.0 million of NETg revenue in fiscal 2008 and the Retail Certification segment (SmartCertify) amortization of legacy deferred revenues for both periods increased to approximately $241.0 million in fiscal 2008 compared to $220.0 million in fiscal 2007 representing approximately 10% organic revenue growth year over year. These NETg metrics are estimates due to the fact that as NETg customer contracts and relationships become more integrated into SkillSoft's consolidated operations, it makes it difficult to report specific NETg contract metrics accurately as time goes on. The Company does not intend to provide these metrics on a going forward basis.

Net income for fiscal 2008 was $60.0 million, or $0.57 per basic share and $0.55 per diluted share, compared to net income of $24.2 million, or $0.24 per basic share and $0.23 per diluted share, for fiscal 2007. Net income for fiscal 2008 includes the benefit of the reduction in the Company's deferred tax valuation allowance of $42.6 million, or $0.41 per basic share and $0.39 per diluted share. The Company's US GAAP net income results include restatement expenses of $1.3 million for fiscal 2008 compared to $0.9 million for fiscal 2007, as well as the following merger and integration related expenses, income from discontinued operations and non-cash charges in fiscal 2008:

Merger and integration related expenses / income from discontinued operations:

-- Merger and integration related expenses of $12.3 million. -- $0.3 million of income from discontinued operations, net of tax. Non-Cash Charges: -- Stock based compensation expense of $6.0 million for fiscal 2008 as compared to $5.1 million for fiscal 2007. -- Amortization of intangible assets and capitalized software development costs of $16.7 million for fiscal 2008 as compared to $6.1 million for fiscal 2007. -- Amortization of deferred financing costs of $0.7 million. -- Depreciation and amortization of $6.9 million for fiscal 2008 as compared to $6.1 million for fiscal 2007. -- Non-cash benefit for income tax of $34.0 million for fiscal 2008 as compared to a $10.1 million non-cash tax provision for fiscal 2007.

Gross margin remained unchanged at 86% for fiscal 2008 and fiscal 2007. Included in cost of revenues in each fiscal year is the amortization of intangible assets related to acquired technology and capitalized software development costs. The amortization decreased gross margin by 2% for fiscal 2008 and fiscal 2007. The gross margin is also impacted by the mix of royalty-bearing content and SkillSoft hosting capacity needed to meet our existing and new customer solution requirements.

Research and development expenses increased to $49.6 million for fiscal 2008 from $40.8 million for fiscal 2007. This increase was primarily due to the inclusion of the expenses associated with additional personnel, the engagement of contractors and the outsourcing related to supporting acquired customer contracts and product obligations assumed in the NETg acquisition.

Sales and marketing expenses increased to $97.5 million for fiscal 2008 from $90.9 million for fiscal 2007. This increase was primarily due to additional direct sales, tele-sales, and sales support personnel, as well as incremental commission and marketing expenses resulting from increased order intake and billings from SkillSoft's base business and from the acquired NETg customer base.

General and administrative expenses increased to $34.6 million for fiscal 2008 from $27.7 million for fiscal 2007. This increase was primarily due to the inclusion of expenses associated with additional personnel, the engagement of contractors and the procurement of professional services that were required to support the transition, and integration activities resulting from the NETg acquisition as compared to fiscal 2007.

Operating expenses for fiscal 2008 include approximately $6.0 million of stock-based compensation expense. The allocation of stock-based compensation expense for fiscal 2008 was as follows: Cost of revenue, $203,000; Research and development, $958,000; Sales and marketing, $1,911,000; and General and administrative, $2,879,000. By comparison, operating expenses for fiscal 2007 included approximately $5.1 million of stock-based compensation expense. The allocation of stock-based compensation expense for fiscal 2007 was as follows: Cost of revenue, $90,000; Research and development, $952,000; Sales and marketing, $1,883,000; and General and administrative, $2,134,000.

The restatement charges relating to the ongoing SEC informal investigation of $1.3 million in fiscal 2008 include expenses incurred as part of the SmartForce option granting practice review. The restatement charges of $0.9 million in fiscal 2007 related to both the SEC's investigation regarding the restatement of the historical financial statements of SmartForce and the informal investigation regarding SmartForce's option granting practice.

Merger and integration related expenses for fiscal 2008 were $12.3 million. Compensation and benefits costs for transition employees represented approximately 70% of these costs, and the remaining 30% related primarily to services, travel and administrative costs associated with transitioning the NETg operations to SkillSoft and meeting NETg customer obligations.

The Company's interest income and other income / (expense) decreased to $3.8 million for fiscal 2008 as compared to $4.2 million for fiscal 2007. This decrease was primarily due to a lower level of investments as a result of the use of cash associated with the NETg acquisition. The Company's interest expense increased to $12.1 million for fiscal 2008 as compared to $0.3 million for fiscal 2007. This increase relates to interest on the $200 million of debt incurred in connection with the NETg acquisition.

The Company's effective tax benefit was 112.5% for the fiscal year ended January 31, 2008, consisting of a cash tax provision of approximately $2.4 million (8.5%) and an effective non-cash tax benefit of approximately $34.0 million or (121.0%). This compares to a 33.1% effective tax provision for the fiscal year ended January 31, 2007. This change is primarily due to the non- cash tax benefit of approximately $42.6 million from the reduction in the Company's deferred tax valuation allowance.

The Company's effective cash tax rate for continuing operations included in the effective tax rate is approximately 8.5% for fiscal 2008 as compared to 5.2% for fiscal 2007. The increase in the current year cash tax provision is primarily due to geographic distribution of earnings throughout the United States.

At January 31, 2008, the Company had deferred revenue of approximately $219.0 million and a 12-month non-cancelable revenue backlog of approximately $255.0 million (which includes deferred revenue and committed contracts), representing approximately 77% of the mid-point of the Company's targeted revenue range for fiscal 2009 of $328.0 million to $336.0 million. This compares to $146.0 million of deferred revenue and a 12-month non-cancelable revenue backlog of approximately $181.0 million at January 31, 2007, which represented approximately 75% of the stand-alone SkillSoft revenue for fiscal 2008 of approximately $241.0 million. As a reminder, backlog is calculated by combining the amount of deferred revenue at each fiscal year end with the amounts to be added to deferred revenue throughout the next twelve months from billings under committed customer contracts and determining how much of these amounts are scheduled to amortize into revenue during the upcoming fiscal year. The amount scheduled to amortize into revenue during the upcoming fiscal year is disclosed as "backlog" as of the end of the preceding fiscal year. Amounts to be added to deferred revenue during the upcoming fiscal year include subsequent installment billings for ongoing contract periods as well as billings for committed contract renewals. We have included this disclosure due to the fact that it is directly related to our subscription based revenue recognition policy. This is a key business metric, which factors into our forecasting and planning activities and provides visibility into revenue for the upcoming fiscal year. The non-cancellable backlog of the NETg business was approximately $49.0 million as of January 31, 2008, which includes the remaining $1.2 million of amortization of the deferred revenue acquired by the Company in the NETg acquisition in the fiscal 2008 second quarter. By comparison, the NETg business contributed approximately $40.0 million to revenue in fiscal 2008, which is the combination of approximately $24.0 million of amortization of the deferred revenue acquired by the Company in the NETg acquisition and approximately $16.0 million of revenue from NETg customer contracts renewed post-acquisition. These NETg metrics are estimates due to the fact that as NETg customer contracts and relationships become more integrated into SkillSoft's consolidated operations, it makes it difficult to report specific NETg contract metrics accurately as time goes on. The Company does not intend to provide these metrics on a going forward basis, and will not be able to quantify the amount of fiscal 2009 revenue contributed by the NETg business. SkillSoft's non-cancelable backlog as of January 31, 2008, excluding the $49.0 million of NETg non-cancelable backlog, grew approximately 14% over January 31, 2007.

As a reminder, an important leverage covenant included in our credit facility is adjusted EBITDA. The adjusted EBITDA for fiscal 2008 was $79.7 million which equates to a debt leverage ratio of 2.5. The adjusted EBITDA for fiscal 2008 is calculated by taking net income ($60.0 million) and adding back depreciation and amortization ($6.9 million), amortization of intangible assets and capitalized software development costs ($16.7 million), stock-based compensation ($6.0 million), restatement expenses ($1.3 million), merger and integration related expenses ($12.3 million), and interest expense ($12.1 million), less interest income and other income/(expense) ($3.75 million), income from discontinued operations ($0.27 million) and the benefit from income taxes ($31.6 million).

The Company's average contract length was 17 months as of January 31, 2008 as compared to 19 months for January 31, 2007. The Company's 12-month average contract value as of January 31, 2008 decreased to $127,000 as compared to $137,000 as of January 31, 2007. SkillSoft's average total contract value as of January 31, 2008 decreased to $180,000 as compared to $217,000 as of January 31, 2007. The decrease is primarily the result of customers acquired from the NETg acquisition, as well as our new customer acquisition emphasis, as the initial contract value with a new customer will generally be smaller, thereby reducing the 12-month average contract value and the average total contract value.

The Company's combined dollar renewal rate decreased to 102% in fiscal 2008 as compared to 106% in fiscal 2007. Fiscal 2008 includes the combined dollar renewal rate of the SkillSoft stand-alone business and the contract renewals related to the NETg customer base following the NETg acquisition in the second quarter of fiscal 2008, which accounts for approximately 87% of the NETg annual renewal activity. The approximate SkillSoft stand-alone combined dollar renewal rate was 108% for fiscal 2008, and the approximate combined dollar renewal rate for the NETg customer base was 82%. This metric excludes the custom business since that business isn't considered renewable year to year. Additionally, the approximate NETg customer retention rate was 78%. These NETg metrics are estimates due to the fact that as NETg customer contracts and relationships become more integrated into SkillSoft's consolidated operations, it makes it difficult to report specific NETg contract metrics accurately as time goes on. The Company does not intend to provide these metrics on a going forward basis. The combined dollar renewal rate metric combines the dollar renewal rate on expiring customers and the dollar upgrade rate on all existing customers (committed and expiring) to provide a single metric that compares existing customer contract dollars spent with SkillSoft year over year.

The Company decided to discontinue the operations of four businesses acquired from NETg in fiscal 2008. These businesses were NETg Press, InteractNow, Wave, and Financial Campus. The InteractNow business still existed as of January 31, 2008 and the Company expects to complete the exit of this business by the middle of fiscal 2009.

Fiscal 2009 Outlook

For fiscal 2009, the Company is currently anticipating revenue to be in the range of $328.0 million to $336.0 million. The contribution to fiscal 2009 revenue from the backlog related to the NETg business as of January 31, 2008 is estimated to be approximately $49.0 million. This figure does not include the contribution to revenue from contracts of NETg customers that may be renewed in fiscal 2009. By way of comparison, the NETg business contributed approximately $40.0 million to revenue in fiscal 2008, which is comprised of approximately $24.0 million related to the amortization of the deferred revenue acquired by the Company in the NETg acquisition in the fiscal 2008 second quarter and approximately $16.0 million of revenue from NETg customer contracts renewed post-acquisition. These NETg metrics are estimates due to the fact that as NETg customer contracts become more integrated into the standard SkillSoft process it makes it difficult to report specific NETg contract metrics accurately as time goes on. The Company does not intend to provide these metrics on a going forward basis, and will not be able to quantify the amount of fiscal 2009 revenue contributed by the NETg business. The midpoint of SkillSoft's target revenue range for fiscal 2009 ($332.0 million), excluding the $49.0 million of estimated NETg backlog revenue is approximately $283.0 million, which represents organic growth of approximately 17% over our fiscal 2008 revenue excluding the estimated $40 million contribution from NETg.

The Company's 12-month non-cancelable revenue backlog at January 31, 2008 was approximately $255.0 million, which represents approximately 77% of the midpoint of the Company's revenue expectations for fiscal 2009.

The Company currently anticipates that it will achieve adjusted net income for fiscal 2009 of between $35.0 million and $38.0 million, or $0.32 to $0.35 per basic and diluted share. Adjusted net income represents GAAP net income, excluding foreign exchange gains or losses. The most significant non-cash items included in targeted adjusted net income are the following: (1) amortization of intangible assets of approximately $16.0 million to $16.5 million; (2) depreciation and amortization of approximately $5.5 million to $6.5 million; (3) a non-cash tax provision of approximately $14.0 million to $15.0 million; (4) stock-based compensation expense of approximately $5.5 million to $6.0 million; (5) amortization of deferred financing costs of approximately $0.8 million to $1.2 million.

Adjusted net income is a non-GAAP financial measure within the meaning of applicable SEC regulations. SkillSoft is presenting this measure (for both fiscal 2009 and the fiscal 2009 first quarter) because it is currently unable to estimate the amount of the items excluded from adjusted net income and it believes that presenting this measure presents investors with meaningful information about the Company's projected operating performance for fiscal 2009.

The Company expects gross margin to be 86% to 87% of revenue for fiscal 2009, which includes amortization of intangible assets and capitalized software development costs of approximately $5.0 million. Research and development expenses are expected to be $56.0 million to $57.5 million, of which $0.9 million to $1.1 million is stock-based compensation expense. Sales and marketing expenses are expected to be $113.0 million to $117.0 million, of which $1.7 million to $1.9 million is stock-based compensation. General and administrative expenses are expected to be $35.5 million to $36.5 million, of which $2.7 million to $2.9 million is stock-based compensation. Restatement charges are expected to be $0.4 million to $0.5 million. Merger and integration related expenses are expected to be $0.4 million to $0.5 million. Amortization of intangible assets is expected to be approximately $16.0 million to $16.5 million, of which approximately $5.0 million is reflected in our gross margin range and $11.0 million to $11.5 million is reflected in our operating expenses. The provision for income taxes is expected to be $18.0 million to $20.0 million, or approximately 33% to 35% of net income. Only $4.0 million to $5.0 million of this amount is expected to be represented by actual cash tax payments. The remainder of the provision ($14.0 million to $15.0 million) is non-cash due to the utilization of net operating loss carry forwards acquired in the merger with SmartForce and from SkillSoft historic net operating loss carry forwards. The non-cash portion of the provision for income tax will reduce deferred tax assets on the Company's balance sheet. Interest income and other income/expense is expected to be $2.5 million to $3.5 million. Interest expense is expected to be $16.0 million to $16.5 million, assuming we do not undertake any debt restructuring. Additionally, capital expenditures are expected to be $6.0 million to $8.0 million, and depreciation expense is expected to be $5.5 million to $6.5 million.

For the first quarter of fiscal 2009 ending April 30, 2008, the Company currently anticipates revenue to be $79.0 million to $81.0 million. The contribution to revenue from the NETg business includes the remaining $1.2 million of amortization of the deferred revenue acquired by the Company in the NETg acquisition in the fiscal 2008 second quarter and revenue from NETg customer contracts renewed post-acquisition.

The Company currently anticipates adjusted net income (excluding foreign exchange gains or losses) for the fiscal 2009 first quarter to be between $4.5 million and $5.5 million, or $0.04 to $0.05 per basic and diluted share. The most significant non-cash items included in the fiscal 2009 first quarter targeted net income are the following: (1) amortization of intangible assets related to acquired technology and capitalized software development costs of approximately $4.5 million to $5.0 million; (2) depreciation and amortization of $1.3 million to $1.5 million; (3) a non-cash tax provision of approximately $0.6 million to $0.7 million; (4) stock-based compensation expense of approximately $1.0 million to $1.5 million; and (5) deferred financing costs of $0.2 million to $0.3 million.

As a reminder, an important leverage covenant included in our credit facility is adjusted EBITDA. The adjusted EBITDA range for fiscal 2009 is expected to be $96.0 million to $100.0 million which equates to a debt leverage ratio range of 2.0 to 2.1. SkillSoft adjusted EBITDA in fiscal 2009 is targeted to grow approximately 20% to 25% as compared to fiscal 2008. The adjusted EBITDA targeted range for fiscal 2009 is calculated by taking targeted net income ($35.0 million to $38.0 million) and adding back depreciation and amortization ($5.5 million to $6.5 million), amortization of intangible assets and capitalized software development costs (approximately $16.5 million), stock-based compensation (approximately $6.0 million), restatement expenses (approximately $0.5 million), merger and integration related expenses (approximately $0.5 million), interest expense ($16.0 million to $16.5 million) and the provision for income taxes ($18.0 million to $20.0 million), less interest income and other income/expense ($2.5 million to $3.5 million).

The Company's projected net income in fiscal 2009 (including the fiscal 2009 first quarter) does not reflect any foreign exchange gains or losses. The fiscal 2009 earnings outlook also does not take into account the potential negative impact of the resolution of litigation matters, or the potential impact of any future acquisitions or divestitures (excluding the NETg acquisition), including potential non-recurring acquisition related expenses and the amortization of any purchased intangibles and deferred compensation charges resulting from an acquisition transaction. The outlook also does not take into account the effect of a public offering or other financing arrangement or debt restructuring that could impact outstanding shares and thereby the Company's earnings per share (EPS) outlook.

SkillSoft is presenting net income targets (for both fiscal 2009 and the first quarter of fiscal 2009) without the impact of such items because it is currently unable to estimate the amount of those items and it believes that presenting net income without taking them into account presents investors with meaningful information about the Company's projected operating performance for fiscal 2009.

The Company anticipates that it will have 110 million to 112 million diluted shares outstanding for EPS calculation purposes in fiscal 2009.

Conference Call

In conjunction with the release, management will conduct a conference call on Friday, March 14, 2008 at 8:30 a.m. ET to discuss the Company's fiscal 2008 operating results and fiscal 2009 outlook. Chuck Moran, President and Chief Executive Officer, and Tom McDonald, Chief Financial Officer, will host the call.

To participate in the conference call, local and international callers can dial (973) 582-2717. The live conference call will be available via the Internet by accessing the SkillSoft Web site at http://www.skillsoft.com/. Please go to the Web site at least fifteen minutes prior to the call to register, download and install any necessary audio software.

A replay will be available from 12:01 p.m. ET on March 14, 2008 until 11:59 p.m. ET on March 21, 2008. The replay number is (706) 645-9291, passcode: 38666946. A webcast replay will also be available on SkillSoft's Web site at http://www.skillsoft.com/. The Company will post Supplementary Financial Schedules to the investor relations section of its web site following the conference call.

About SkillSoft

SkillSoft PLC is a leading SaaS provider of on-demand e- learning and performance support solutions for global enterprises, government, education and small to medium-sized businesses. SkillSoft enables business organizations to maximize business performance through a combination of comprehensive e- learning content, online information resources, flexible learning technologies and support services.

Content offerings include business, IT, desktop, compliance and consumer/SMB courseware collections, as well as complementary content assets such as Leadership Development Channel video products, KnowledgeCenter(TM) portals, virtual instructor-led training services and online mentoring services. The Books24x7(R) division offers online access to more than 15,000 digitized IT and business books, as well as book summaries and executive reports. Technology offerings include the SkillPort(R) learning management system, Search-and-Learn(R), SkillSoft(R) Dialogue(TM) and virtual classroom. SkillSoft courseware content described herein is for information purposes only and is subject to change without notice. SkillSoft has no obligation or commitment to develop or deliver any future release, upgrade, feature, enhancement or function described in this press release except as specifically set forth in a written agreement.

SkillSoft, the SkillSoft logo, SkillPort, Search-and-Learn, SkillChoice, Books24x7, ITPro, BusinessPro, OfficeEssentials, GovEssentials, EngineeringPro, FinancePro, AnalystPerspectives, ExecSummaries, ExecBlueprints, Express Guide and Dialogue are trademarks or registered trademarks of SkillSoft PLC in the United States and certain other countries. All other trademarks are the property of their respective owners.

This release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements. Factors that could cause or contribute to such differences include challenges in integrating the operations of NETg, competitive pressures, changes in customer demands or industry standards, adverse economic conditions, loss of key personnel, litigation and other risk factors disclosed under the heading "Risk Factors" in SkillSoft's Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2007 as filed with the Securities and Exchange Commission. The forward-looking statements provided by the Company in this press release represent the Company's views as of March 14, 2008. The Company anticipates that subsequent events and developments may cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this release.

SkillSoft PLC and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Twelve Months Three Months Ended Ended January 31 January 31 2008 2007 2008 2007 Revenues $77,490 $57,651 $281,223 $225,172 Cost of revenues - amortization of capitalized software development costs 1,740 219 5,423 4,422 Cost of revenues - other (1) 8,809 6,639 32,637 26,601 Gross profit 66,941 50,793 243,163 194,149 Operating expenses: Research and development (1) 14,297 10,863 49,612 40,776 Selling and marketing (1) 26,004 22,519 97,493 90,894 General and administrative (1) 9,057 6,787 34,630 27,735 Amortization of intangible assets 3,282 412 11,237 1,652 Merger and integration related expenses 1,173 - 12,317 - Restructuring - (21) - 26 Restatement - SEC investigation 19 464 1,346 898 Total operating expenses 53,832 41,024 206,635 161,981 Other (expense) / income, net 737 (29) (186) (96) Interest income 1,063 1,299 3,948 4,310 Interest expense (4,409) (73) (12,149) (278) Income before provision / (benefit) for income taxes from continuing operations 10,500 10,966 28,141 36,104 Provision / (Benefit) for income taxes - cash 1,272 947 2,371 1,878 Provision / (Benefit) for income taxes - non-cash (24,972) 1,828 (33,958) 10,073 Income from continuing operations 34,200 8,191 59,728 24,153 Income from operations of businesses to be disposed, net of income tax expense of $104 and $180 for the three and twelve months ended January 31, 2008, respectively 97 - 270 - Net income $34,297 $8,191 $59,998 $24,153 Net income, per share, basic - continuing operations $0.33 $0.08 $0.57 $0.24 Net income, per share, basic - discontinued operations $0.00 $- $0.00 $- $0.33 $0.08 $0.57 $0.24 Basic weighted average common shares 105,059,220 102,444,167 104,390,807 101,697,912 outstanding Net income, per share, diluted - continuing operations $0.31 $0.08 $0.55 $0.23 Net income, per share, diluted - discontinued operations $0.00 $- $0.00 $- $0.31 $0.08 $0.55 $0.23 Diluted weighted average common shares outstanding 109,248,809 105,230,231 108,288,908 104,240,433 (1) The following summarizes the departmental allocation of the stock- based compensation Cost of revenues $84 $59 $203 $90 Research and development 299 134 958 952 Selling and marketing 602 237 1,911 1,883 General and administrative 958 477 2,879 2,134 SkillSoft PLC Condensed Consolidated Balance Sheets (Unaudited) January 31, 2008 January 31, 2007 ASSETS CURRENT ASSETS: Cash, cash equivalents and short-term investments $89,584 $104,117 Restricted cash 3,963 20,095 Accounts receivable, net 171,708 94,343 Prepaid acquisition costs - 2,881 Prepaid expenses and other current assets 29,006 22,215 Deferred tax assets - short term 13,476 - Total current assets 307,737 243,651 Property and equipment, net 7,210 9,672 Goodwill 256,196 83,171 Acquired intangible assets, net 29,887 2,638 Long-term investments - 3,598 Deferred tax assets 87,866 159 Other assets 7,162 81 Total assets $696,058 $342,970 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Current maturities of long-term debt $2,000 $- Accounts payable 2,139 3,327 Accrued expenses 53,461 53,297 Deferred revenue 219,161 146,012 Total current liabilities 276,761 202,636 Total long-term liabilities 206,209 2,405 Total stockholders' equity 213,088 137,929 Total liabilities and stockholders' equity $696,058 $342,970 SkillSoft PLC Condensed Consolidated Statements of Cash Flows (Unaudited) Twelve Months Ended January 31 2008 2007 Cash flows from operating activities from continuing operations: Net income from continuing operations $59,728 $24,153 Adjustments to reconcile net income to net cash provided by operating activities--- Share-based compensation 5,951 5,059 Depreciation and amortization 6,935 6,100 Amortization of acquired intangible assets and capitalized software development costs 16,660 6,074 Provision for/(recovery of) bad debts 237 (589) Non-cash interest expense 735 - (Benefit)/Provision for income taxes - non-cash (33,958) 10,073 Realized loss on sale of assets, net (58) - Tax benefit related to exercise of non qualified stock options (412) - Changes in current assets and liabilities, net of acquisitions Accounts receivable (43,261) (7,033) Prepaid expenses and other current assets 11,107 878 Accounts payable (2,584) (532) Accrued expenses Accrued merger (9,384) (1,041) Accrued restructuring (24) (566) Accrued other (9,287) (232) Payment of litigation settlement (15,250) - Deferred revenue 45,490 7,581 Net cash provided by operating activities from continuing operations 32,625 49,925 Cash flows from investing activities from continuing operations: Purchases of property and equipment (2,968) (5,519) Cash used in purchase of business, net of cash acquired (263,990) (2,881) Disposition of net assets (6,723) - Purchases of investments (18,437) (91,168) Maturity of investments 63,928 53,585 Release (designation) of restricted cash 16,138 (15,056) Net cash used in investing activities from continuing operations (212,052) (61,039) Cash flows from financing activities from continuing operations: Borrowings under long-term debt, net of debt financing costs 194,133 - Principal payment on long-term debt (1,000) Exercise of stock options 9,120 5,360 Proceeds from employee stock purchase plan 2,783 1,654 Tax benefit related to exercise of non qualified stock options 412 - Net cash provided by financing activities from continuing operations 205,448 7,014 Change in cash from discontinued operations (935) - Effect of exchange rate changes on cash and cash equivalents 2,361 775 Net increase / (decrease) in cash and cash equivalents 27,447 (3,325) Cash and cash equivalents, beginning of period 48,612 51,937 Cash and cash equivalents, end of period $76,059 $48,612

SkillSoft

CONTACT: Tom McDonald, Chief Financial Officer of SkillSoft PLC,
+1-603-324-3000, x4232; or INVESTOR, Michael Polyviou, or Peter Schmidt, both
of Financial Dynamics, +1-212-850-5748

Web site: http://www.skillsoft.com/

Featured Stocks on Today's Edition of WallSt.net's 3-Minute Press Show: MZYH, NPHS, HCPC, YLL

NEW YORK, March 14 /PRNewswire/ -- WallSt.net's 3-Minute Press Show is a daily video program hosted by WallSt.net reporter, Tracee Tolentino.

Shows air Monday through Friday on: http://www.wallst.net/wallst_tv/3_minute_press_show/index.php.

WallSt.net's 3-minute press show features in-depth interviews with public company executives on their company and most recent press releases. The show is designed to provide viewers with insight into a company's most recent press release, and its impact on the company's growth.

The following executives were interviewed on today's show: -- Wade Mezey, CEO of Mezey Howarth Racing Stables, Inc. (BULLETIN BOARD: MZYH) (http://www.mezeyhowarth.com/) -- Thomas Hemingway, Chairman and Chief Operating Officer for NextPhase Wireless, Inc. (BULLETIN BOARD: NPHS) (http://www.npwireless.com/) -- G. Carol Johnson, CEO of Heritage Capital Credit Corp. (Pink Sheets: HCPC) (http://www.heritagecapitalcreditcorp.com/) -- Ian Foreman, President of Yale Resources Ltd. (TSX.V: YLL) (http://www.yaleresources.com/) About WallStreet Direct, Inc.

WallStreet Direct, Inc. a wholly-owned subsidiary of Financial Media Group, Inc., owns and operates WallSt.net (http://www.wallst.net/), a leading source of up-to-the-minute business news, comprehensive financial tools and original multimedia content for the investment community. In addition to WallSt.net, WallStreet Direct owns and operates WallStRadio (http://radio.wallst.net/) an online hub for business podcasts from well-known business news personalities and publishers. We have received four hundred ninety five dollars from Mezey Howarth Racing Stables, Inc. for the dissemination of this press release. We have received four hundred ninety five dollars from Heritage Capital Credit Corp. for the dissemination of this press release. We have received four hundred ninety five dollars from Yale Resources Ltd. for the dissemination of this press release. To read our full disclaimer, and for a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.php.

About Mezey Howarth Racing Stables

Mezey Howarth Racing Stables, Inc. is a thoroughbred racing company that extends the benefit of ownership to all shareholders. Mezey Howarth Racing Stables acquires and maintains a stable of racehorses adequate to compete in the upper echelons of the thoroughbred horse racing industry. The Company acquires, owns, manages, trains, and races thoroughbred racing prospects. Mezey Howarth Racing Stables works with only the finest trainers, jockeys, veterinarians, blacksmiths, and other service providers, to ensure that our horses are afforded every opportunity to excel. Mezey Howarth Racing Stables relies on the highest standards of ethics and does not cut corners, and believes that luck in this industry comes only through preparation, hard work, patience, and the professional management of our horses. For more information, please visit http://www.mezeyhowarth.com/

About NextPhase Wireless, Inc.

With a mission to build a device-agnostic, WiMAX-ready, wireless broadband connectivity/content delivery platform serving all 48 contiguous U.S. states, NextPhase Wireless is focused on providing connectivity services and solutions to businesses, public school systems and local government agencies. Using licensed WiMAX and LMDS spectrum bands, the Company offers fully-integrated solutions with the highest levels of reliability, security, flexibility, scalability and price-performance. For more information, please visit http://www.npwireless.com/.

About Heritage Capital Credit Corporation

The Heritage business model, which is implemented through its subsidiary, Independent Capital Credit Corporation, is to prepare real property and commercial revenue producing assets for funding. To date, the Company has closed two transactions and is working with four additional applicants.

About Yale Resources Ltd.

Yale Resources, Ltd., an exploration stage company, engages in the acquisition, exploration, and development of mineral properties for commercial mineral deposits, such as gold, silver, copper, and zinc. It holds option agreements to acquire interests in the Urique project, the Carol-Balde property, and the Zacatecas property located in Mexico.

Contact: WallSt.net 800-4-WALLST

WallStreet Direct, Inc.; Mezey Howarth Racing Stables, Inc.;

CONTACT: WallSt.net, 1-800-4-WALLST

Web site: http://www.wallst.net/
http://www.mezeyhowarth.com/
http://www.npwireless.com/

TTI Repositioning on Track

HONG KONG, March 14 /Xinhua-PRNewswire-FirstCall/ -- Techtronic Industries Co. Ltd. ("TTI" or the "Group") (HKEx: 669; ADR symbol: TTNDY) today announced an update on its Strategic Repositioning Plan (the "Plan"). The main elements of the Plan, as published in the 2007 Interim Report, consisted of a re- deployment of the Group's global manufacturing and product development capabilities.

TTI presently estimates the pre-tax costs related to the Strategic Repositioning Plan to be approximately US$150 million with a cash portion of approximately US$95 million. Upon completion of the Plan, the anticipated annualized pre-tax savings are expected to be over US$70 million.

Mr. Horst Pudwill, Chairman of TTI said, "We are pleased to announce that we are on schedule in the deployment of the Strategic Repositioning Plan. In addition, we have improved some of the initiatives to reposition certain manufacturing operations."

Floor-Care Division -- The Hoover Integration is virtually complete and is tracking two months ahead of schedule -- The production in North Canton, Ohio has been integrated into TTI's Texas and Mexico facilities and current PRC manufacturing facilities -- A global R&D center was constructed in Ohio to host all US R&D activities for both Hoover and Royal. This investment will allow for a more robust new product pipeline and centralize the design development, ensuring the Group to leverage its market leading technology capability globally -- Hoover's prior Distribution activities have been migrated into Royal's existing facilities, yielding significant cost savings, shipping and handling productivity, as well as better service levels to customers -- The Hoover operation is on track to deliver positive operating results for 2008 and beyond Power Equipment Division -- The production transfer of Milwaukee(R) DC (cordless) products to the Group's PRC facilities is complete -- The production Transfer of Milwaukee(R) AC (corded) products is on target and TTI has announced the closure of 2 US facilities by the end of 2008 -- Concurrently, the construction of a new facility and test labs in China, dedicated to the manufacturing of professional tools, is almost completed and is expected to be in operation by the second half of 2008 -- The move to China will yield significant cost savings in 2008 and beyond -- The majority of the European DC products have already been transferred to China -- TTI is currently streamlining European operations which will optimize the production of higher complexity products to feed the needs in the European and US market

Mr. Joseph Galli Jr., CEO of TTI said, "We are comfortable with the progress of our Strategic Repositioning Plan and we expect to deliver and may potentially exceed our initial plan as announced in our interim report. We will continue to update the market as we make further progress."

About TTI

Founded in 1985 and listed on the Stock Exchange of Hong Kong Limited in 1990, TTI is a world-class supplier of superior home improvement and construction tools with a powerful portfolio of trusted brands and a strong commitment to innovation and quality. The portfolio that TTI offers includes a full line of power equipment products, floorcare, laser and electronic products, employing approximately 23,000 people worldwide. TTI's portfolio of global brands includes, among others, Milwaukee(R), AEG(R), Ryobi(R), Stiletto(R), Homelite(R), Royal(R), Dirt Devil(R), Regina(R), Vax(R) and Hoover(R).

TTI is one of the constituent stocks on the Hang Seng HK MidCap Index under the Hang Seng Composite Index and the FTSE All-World Hong Kong Index. For more information, please visit http://www.ttigroup.com/ .

Trademarks

All trademarks used are intellectual property of their respective owners and are protected under trademark law.

The use of the trademark Ryobi(R) is pursuant to a license granted by Ryobi Limited.

For enquiries: Techtronic Industries Co. Ltd. Erik Floyd Tel: +852-2402-6653 Email: erik.floyd@tti.com.hk Strategic Financial Relations Limited Veron Ng Tel: +852-2864-4831 Email: veron.ng@sprg.com.hk Angela Kung Tel: +852-2864-4859 Email: angela.kung@sprg.com.hk Ming Chan Tel: +852-2864-4892 Email: ming.chan@sprg.com.hk Fax: +852-2804-2789 or +852-2527-1196

Techtronic Industries Co. Ltd.

CONTACT: Erik Floyd of Techtronic Industries Co. Ltd., +852-2402-6653,
erik.floyd@tti.com.hk; Veron Ng, +852-2864-4831, veron.ng@sprg.com.hk; Angela
Kung, +852-2864-4859, angela.kung@sprg.com.hk; Ming Chan, +852-2864-4892,
ming.chan@sprg.com.hk, all of Strategic Financial Relations Limited for
Techtronic Industries Co. Ltd.

Web site: http://www.ttigroup.com/

GateHouse Media Announces Full Year & Fourth Quarter Results, First Quarter 2008 Dividend and Stock Repurchase ProgramFull Year and Fourth Quarter 2007 Highlights- Successful execution of our business strategy resulted in record revenues for the full year and fourth quarter. Total revenues increased 87.0% to $588.9 million for full year 2007 compared to full year 2006. As Adjusted Revenues increased 94.2% to $611.6 million for full year 2007 and 81.0% to $177.1 million for the fourth quarter 2007.- Full year and fourth quarter same store As Adjusted Revenues, while down slightly, significantly outperformed the industry.- As Adjusted EBITDA rose sharply to $141.0 million for full year 2007, up 105.2% compared to full year 2006, while As Adjusted EBITDA increased 96.5% to $44.2 million in the fourth quarter 2007 over the same period in 2006. Same store As Adjusted EBITDA was up 4.4% in the fourth quarter 2007 compared to the fourth quarter 2006.- Levered Free Cash Flow per share for full year 2007 was $1.38 which increased 5.4% from $1.31 for 2006. In the fourth quarter Levered Free Cash Flow per share was $0.39 up 4.1% over $0.38 in the fourth quarter 2006. Pro Forma Levered Free Cash Flow per share, if all acquisitions were included for the entire fourth quarter 2007, would have been $0.43 per share for the quarter.- Recorded a non-cash impairment charge to goodwill and mastheads of $226.0 million reflecting the decline in the stock price.Recent Developments- As Adjusted Revenues trends on a same-store basis show improvement in the first quarter 2008 compared to fourth quarter 2007 on a year over year basis.- Declared first quarter dividend of $0.20 per share, to be paid April 15, 2008 to stockholders of record on March 31, 2008.- Authorized stock repurchase program of up to $75.0 million worth of common stock.- Sold non-strategic properties for approximately $9.5 million and entered into agreements for the sale of an additional $13.0 million.

FAIRPORT, N.Y., March 14 /PRNewswire-FirstCall/ -- GateHouse Media, Inc. (the "Company" or "GateHouse Media") today reported financial results for the full year and quarter ended December 31, 2007.

The Company reported full year 2007 total revenue of $588.9 million, an increase of 87.0% over full year 2006. As Adjusted Revenues were $611.6 million, an increase of 94.2% over full year 2006. The increase in revenues was driven by the Company's acquisitions and implementation of its online strategy, partially offset by declines in print classified advertising revenues, in particular, help wanted, real estate and automotive. As Adjusted Revenues for the Company on a same-store basis significantly outperformed the industry, declining only 2.5% over the full year 2006. Circulation revenues on a same store basis increased 1.9% for the full year 2007 and 2.3% for the fourth quarter 2007.

Operating loss for the full year 2007 was $180.7 million. Excluding the goodwill and masthead impairment charge, operating income was $45.3 million, an increase of 38.8% over 2006. As Adjusted EBITDA was $141.0 million for the year ended December 31, 2007, down 0.6% on a same-store basis. Excluding corporate costs, however, which rose in 2007 as the Company set up infrastructure to support its long term growth strategy and being a public company, As Adjusted EBITDA was $155.8 million, an increase of 2.8% on a same- store basis over 2006.

For the fourth quarter ended December 31, 2007, the Company reported As Adjusted Revenues of $177.1 million, an increase of 81.0% over the full year 2006. On a same-store basis, As Adjusted Revenues for the Company in the quarter decreased 3.4% over the fourth quarter 2006, continuing to outperform the industry.

Operating loss for the fourth quarter was $213.7 million. Excluding the goodwill and masthead impairment one-time charge, operating income was $12.3 million, an increase of 28.0% over the fourth quarter of 2006. As Adjusted EBITDA increased $1.9 million, or 4.4% on a same-store basis for the quarter. Excluding corporate costs, As Adjusted EBITDA was $48.2 million, which increased 5.7% on a same-store basis over the fourth quarter 2006.

As a dividend-paying company, GateHouse Media's management utilizes As Adjusted Revenues and As Adjusted EBITDA to evaluate the Company's performance, cash flows and liquidity because these metrics exclude non-cash items such as depreciation and amortization, non-cash compensation expense and one-time costs associated with integrating acquisitions and realizing synergy cost savings. GateHouse Media also uses As Adjusted EBITDA, excluding corporate costs, to assess the performance of its core local businesses.

Michael E. Reed, GateHouse Media's Chief Executive Officer, commented, "We are pleased that we were able to deliver strong full year 2007 and fourth quarter results, in what is a weak economic environment. We continued to successfully execute on our business strategy, which resulted in record revenue and Levered Free Cash Flow. Our business model of operating in small markets, combined with our internal revenue initiatives and our cash flow improvement opportunities, position us to weather this current economic slowdown as shown in our fourth quarter results. Despite the challenging advertising marketplace in 2007, we were able to grow our Levered Free Cash Flow per share by 5.4% in 2007 over 2006 before realizing many of the synergies relating to our acquisitions, which we expect to achieve in 2008."

"During the fourth quarter we were able to complete another very attractive acquisition with our purchase of certain small market rural Morris newspapers. We also made good progress towards the integration of our 2007 acquisitions and began the realization of synergies from those transactions. This has contributed to the strong same-store cash flow results we were able to report in the fourth quarter. Our As Adjusted EBITDA in the fourth quarter of $44.2 million, was up 4.4% on a same-store sales basis over fourth quarter 2006."

The Company's Board of Directors approved a first quarter dividend of $0.20 per share in addition to a $75.0 million stock repurchase program. The dividend is payable on April 15, 2008 to stockholders of record on March 31, 2008. The Company remains committed to returning cash flow to shareholders. However, given the current market environment we believe our internally generated cash is our best and cheapest source of capital. Retained cash flow will be available to make new accretive investments, buy back shares and maintain adequate liquidity.

"It is important that we continue to be as proactive as possible to position GateHouse to not only weather the current environment but also to be in a position to grow our free cash flow per share through this cycle. To that end, we have decided to set the current dividend at $0.20 for the first quarter," noted Reed.

The Company announced that a fourth quarter 2007 non-cash impairment charge related to goodwill and mastheads of $226.0 million was recorded. This decreased the Company's fourth quarter earnings per share by $3.42 and its annual earnings per share by $4.19. This charge resulted from impairment testing, in accordance with Statement of Financial Accounting Standards No. 142, Goodwill and Other Intangible Assets, completed at year end triggered by the decline of the Company's share price during the quarter. This impairment did not result from declining cash flows or a change in the Company's outlook for cash flows but rather GAAP rules which require a reconciliation between book value and our current market capitalization. The Company's current stock market price along with general economic conditions were key factors in determining the amount of the impairment charge.

Full Year 2007

As Adjusted Revenues for the year declined 2.5% on a same-store sales basis to $611.6 million. Local advertising revenues decreased 3.0% on a same- store sales basis. The primary driver of the revenue declines were print classifieds which were down 8.8% on a same-store sales basis. Help wanted, real estate and automotive all declined in 2007. Online advertising was particularly strong in 2007, up 48.2%. Circulation revenues were also strong in 2007, up 1.9%. Total advertising revenues in 2007 declined 3.9%. Commercial printing and other revenues were up almost 1.0% for the year.

As Adjusted EBITDA for the year was $141.0 million which was down slightly at $0.9 million or 0.6% on a same-store sales basis. Excluding corporate expenses, however, As Adjusted EBITDA was up $4.2 million or 2.8% on a same- store sales basis.

Non-cash compensation expense for Restricted Stock Grants (RSGs) was $4.7 million for the year. One-time costs incurred or accrued in 2007 were $15.4 million. These charges were primarily incurred in conjunction with the Company's acquisitions in 2007 which totaled over $1.0 billion, in order to realize permanent expense savings from synergies, reduced staffing and plant and press mergers. In addition, there were costs incurred or accrued in conjunction with staff reductions taken in light of the current revenue environment. Charges included consulting fees, severance, benefits, equipment transportation costs and legal fees.

Levered Free Cash Flow for the year 2007 was $64.1 million, up 95.0% from $32.9 million in 2006.

Fourth Quarter 2007

As Adjusted Revenues for the quarter declined 3.4% on a same-store sales basis to $177.1 million. Local advertising revenues decreased 3.7% on a same- store sales basis. Classified revenues were the primary driver of the revenue declines with an 11.2% decline on a same-store sales basis. The classified advertising weakness was seen in the categories of help wanted, real estate and automotive and from a geographic standpoint most of the Company's revenue weakness occurred in the locally soft Massachusetts market. Circulation revenues in the quarter increased by a strong 2.3% driven by price increases offset by very small volume declines. Commercial printing and other revenues decreased 5.3% in the quarter.

As Adjusted EBITDA for the quarter was $44.2 million which was up $1.9 million or 4.4% on a same-store sales basis. Excluding corporate expenses, As Adjusted EBITDA was $48.2 million which was up $2.6 million or 5.7% on a same- store sales basis.

Non-cash compensation expense for Restricted Stock Grants (RSGs) in the fourth quarter was $1.7 million. One-time costs incurred or accrued in the quarter were $7.7 million. These were charges related primarily to integration of the Company's acquisitions in order to realize permanent expense reductions, and reduce future cap ex needs, as well as staff reductions taken in order to reduce cost basis in light of the current revenue environment. Charges included consulting fees, severance, benefits, equipment transportation costs and legal fees.

Levered Free Cash Flow for the quarter was $22.3 million compared with $12.8 million for the same quarter in 2006.

Dividend

The Company's Board of Directors has declared a first quarter cash dividend of $0.20 per share on its common stock for the quarter ending March 31, 2008, payable on April 15, 2008 to stockholders of record on March 31, 2008.

Earnings Call

The Company has scheduled a conference call to discuss results on March 14, 2008 at 10:00 AM EST. The conference call can be accessed by dialing (877) 340-7913 (from within the U.S.) or (719) 325-4888 (from outside of the U.S.) ten minutes prior to the scheduled start and referencing the "GateHouse Media Fourth Quarter Earnings Call."

A webcast of the conference call will be available to the public on a listen-only basis at http://www.gatehousemedia.com/. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast. A replay of the webcast will be available for three months following the call.

For those who cannot listen to the live call, a replay will be available until 11:59 PM EDT on Friday, March 21, 2008 by dialing (888) 203-1112 (from within the U.S.) or (719) 457-0820 (from outside of the U.S.) please reference access code "896-4785." A copy of this earnings release and quarterly financial supplement will be posted on the Investors section of the GateHouse Media website.

Non-GAAP Financial Measures

A non-GAAP financial measure is generally defined as one that purports to measure historical or future financial performance, financial position or cash flows, but excludes or includes amounts that would not be so adjusted in the most comparable GAAP measure. GateHouse Media defines and uses Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow, non-GAAP financial measures, as set forth below. The Company strongly urges stockholders and other interested persons not to rely on any single financial measure to evaluate its business. In addition, because Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow are not measures of financial performance under GAAP and are susceptible to varying calculations, these non-GAAP measures, as presented in this press release, may differ from and may not be comparable to similarly titled measures used by other companies.

Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow

The Company defines Adjusted EBITDA as net income (loss) before interest, income tax expense (benefit), depreciation and amortization and other non- recurring or non-cash items. The Company defines As Adjusted EBITDA as Adjusted EBITDA before other non-cash items such as non-cash compensation and non-recurring integration and reorganization costs. The Company defines As Adjusted Revenues as total revenues plus revenues of discontinued operations while adjusting for the purchase accounting impact on revenues of the SureWest acquisition. The Company defines Levered Free Cash Flow as As Adjusted EBITDA less capital expenditures, cash taxes and interest expense.

Management's Use of Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow

Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow are not measurements of financial performance under GAAP and should not be considered in isolation or as alternatives to income from operations, net income (loss), cash flow from continuing operating activities or any other measure of performance or liquidity derived in accordance with GAAP. GateHouse Media's management believes these non-GAAP measures, as defined above, are useful to investors for the following reasons:

-- Evaluating performance and identifying trends in day-to-day performance because the items excluded have little or no significance on its day- to-day operations; -- Providing assessments of controllable expenses that afford management the ability to make decisions which are expected to facilitate meeting current financial goals as well as achieving optimal financial performance; and -- Indicators for management to determine if adjustments to current spending decisions are needed.

Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow provide GateHouse Media with measures of financial performance, independent of items that are beyond the control of management in the short- term, such as depreciation and amortization, taxation and interest expense associated with its capital structure. These metrics measure GateHouse Media's financial performance based on operational factors that management can impact in the short-term, namely the cost structure or expenses of the organization. Adjusted EBITDA, As Adjusted EBITDA, As Adjusted Revenues and Levered Free Cash Flow are some of the metrics used by senior management and the Board of Directors to review the financial performance of the business on a monthly basis. In addition, GateHouse Media's management utilizes these metrics to evaluate the Company's performance, along with other criteria, to determine the funds available for paying the quarterly dividend.

GATEHOUSE MEDIA, INC. AND SUBSIDIARIES Consolidated Statements of Operations (In thousands, except share and per share data) Three Three Twelve Twelve months months months months ended ended ended ended December December December December 31, 31, 31, 31, 2007 2006 2007 2006 Revenues: Advertising $127,055 $75,272 $435,769 $238,721 Circulation 35,539 16,446 119,649 52,656 Commercial printing and other 9,609 6,136 33,510 23,553 Total revenues 172,203 97,854 588,928 314,930 Operating costs and expenses: Operating costs 92,771 49,829 316,148 160,877 Selling, general, and administrative 45,441 29,184 159,198 91,272 Depreciation and amortization 17,104 7,844 57,750 24,051 Integration and reorganization costs 2,133 1,269 7,490 4,486 Impairment of long-lived assets 984 20 1,553 917 Loss on sale of assets 1,461 89 1,495 700 Goodwill and mastheads impairment 225,993 - 225,993 - Operating income (loss) (213,684) 9,619 (180,699) 32,627 Interest expense 21,825 10,366 76,726 35,994 Amortization of deferred financing costs 387 203 2,101 544 Loss on early estinguishment of debt - 1,384 2,240 2,086 Unrealized (gain) loss on derivative instrument 405 214 2,378 (1,150) Other expenses 232 - 16 - Loss from continuing operations before income taxes (236,533) (2,548) (264,160) (4,847) Income tax benefit (21,809) (10,301) (31,192) (3,273) Income (loss) from continuing operations (214,724) 7,753 (232,968) (1,574) Income from discontinued operations, net of income taxes 97 (a) - 1,544 (a) - Net income (loss) $(214,627) $7,753 $(231,424) $(1,574) Earnings (loss) per share: Basic and diluted: Income (loss) from continuing operations $(3.78) $0.23 $(5.02) $(0.06) Income from discontinued operations, net of taxes - - 0.03 - Net income (loss) $(3.78) $0.23 $(4.99) $(0.06) Dividends declared per share $0.40 $0.32 $1.57 $0.64 Basic weighted average shares outstanding 56,820,586 33,597,000 46,403,965 25,087,535 Diluted weighted average shares outstanding 56,820,586 33,978,750 46,403,965 25,087,535 (a) Included in income from discontinued operations, net of taxes are total revenues of $848 and $8,383 for the three and twelve months ended December 31, 2007 respectively from Yankton, SD, Winter Haven, FL and Huntington, WV operations. GATEHOUSE MEDIA, INC. AND SUBSIDIARIES Consolidated Balance Sheets (In thousands, except share data) December 31, December 31, 2007 2006 Assets Current assets: Cash and cash equivalents $12,096 $90,302 Accounts receivable, net of allowance for doubtful accounts of $3,874 and $2,332 at December 31, 2007 and December 31, 2006, respectively 85,474 42,990 Inventory 9,046 4,664 Prepaid expenses 4,514 3,372 Deferred income taxes 3,890 2,896 Other current assets 4,208 380 Assets held for sale 1,540 - Total current assets 120,768 144,604 Property, plant, and equipment, net of accumulated depreciation of $30,597 and $11,224 at December 31, 2007 and December 31, 2006, respectively 210,209 98,371 Goodwill 701,852 480,430 Intangible assets, net of accumulated amortization of $58,111 and $20,246 at December 31, 2007 and December 31, 2006, respectively 808,794 391,096 Deferred financing costs, net 8,416 5,297 Derivative instruments - 7,972 Other assets 1,692 1,404 Long-term assets held for sale 23,264 2,323 Total assets $1,874,995 $1,131,497 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term liabilities $1,047 $487 Short-term note payable 10,000 - Accounts payable 13,190 5,655 Accrued expenses 40,672 18,167 Accrued interest 9,947 2,358 Deferred revenue 29,840 14,554 Dividend payable 23,126 9,394 Liabilities held for sale 623 - Total current liabilities 128,445 50,615 Long-term liabilities: Long-term debt 1,206,000 558,000 Long-term liabilities, less current portion 4,455 1,324 Deferred income taxes 25,327 34,709 Derivative instruments 44,101 - Pension and other postretirement benefit obligations 12,679 13,765 Total liabilities 1,421,007 658,413 Stockholders' equity: Preferred stock, $0.01 par value, 50,000,000 shares authorized at December 31, 2007; none issued and outstanding at December 31, 2007 and December 31, 2006 - - Common stock, $0.01 par value, 150,000,000 shares authorized at December 31, 2007; 57,947,073 and 39,147,263 shares issued, and 57,891,295 and 39,141,263 outstanding at December 31, 2007 and December 31, 2006, respectively 568 381 Additional paid-in capital 822,025 486,011 Accumulated other comprehensive loss (49,962) (2,644) Accumulated deficit (318,407) (10,604) Treasury stock, at cost, 55,778 and 6,000 shares at December 31, 2007 and December 31, 2006, respectively (236) (60) Total stockholders' equity 453,988 473,084 Total liabilities and stockholders' equity $1,874,995 $1,131,497 GATEHOUSE MEDIA, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (In thousands) Year ended Year ended December 31, 2007 December 31,2006 Cash flows from operating activities: Net loss $(231,424) $(1,574) Income from discontinued operations, net of income taxes 1,544 - Net loss from continuing operations (232,968) (1,574) Adjustments to reconcile net loss to net cash provided by continuing operating activities: Depreciation and amortization 57,750 24,051 Amortization of deferred financing costs 2,101 544 Unrealized loss (gain) on derivative instrument 2,378 (1,150) Non-cash compensation expense 4,687 1,846 Deferred income taxes (32,657) (3,448) Loss on sale of assets 1,495 700 Loss on early extinguishment of debt 2,240 2,086 Pension and other postretirement benefit obligations 800 748 Impairment of long-lived assets 1,553 917 Goodwill and mastheads impairment 225,993 - Changes in assets and liabilities, net of acquisitions: Accounts receivable, net 4,207 (1,701) Inventory 1,712 (23) Prepaid expenses 1,060 610 Other assets (2,685) 161 Accounts payable 5,081 1,614 Accrued expenses and other current liabilities 13,801 (829) Accrued interest 7,589 1,025 Deferred revenue (219) (668) Long-term liabilities (195) 308 Net cash provided by operating activities 63,723 25,217 Cash flows from investing activities: Purchases of property, plant, and equipment (8,592) (8,396) Proceeds from sale of publications and other assets 79,658 4,494 Acquisition of CP Media, net of cash acquired - (231,735) Acquisition of Enterprise NewsMedia, LLC, net of cash acquired (154) (181,393) Acquisition of The Copley Press, Inc. Newspapers, net of cash acquired (385,756) - Acquisition of Gannett Co., Inc. Newspapers, net of cash acquired (418,576) - Other acquisitions, net of cash acquired (317,738) (11,808) Net cash used in investing activities (1,051,158) (428,838) Cash flows from financing activities: Payment of debt issuance costs (7,460) (7,166) Borrowings under term loans 1,534,757 570,000 Repayments of term loans (897,757) (12,000) Net borrowings under revolving credit facility 11,000 (8,500) Extinguishment of credit facility, net of fees - (304,426) Payment of offering costs (1,374) (3,701) Issuance of common stock, net of underwriter's discount 332,939 265,914 Purchase of treasury stock (176) (60) Payment of dividends (62,700) (9,201) Net cash provided by financing activities 909,229 490,860 Net increase (decrease) in cash and cash equivalents (78,206) 87,239 Cash and cash equivalents at beginning of period 90,302 3,063 Cash and cash equivalents at end of period $12,096 $90,302 GATEHOUSE MEDIA, INC. AND SUBSIDIARIES As Adjusted EBITDA (In thousands) Three months Three months Twelve months Twelve months ended ended ended ended December 31, December 31, December 31, December 31, 2007 2006 2007 2006 Income (loss) from continuing operations $(214,724) $7,753 $(232,968) $ 1,574) Income tax benefit (21,809) (10,301) (31,192) (3,273) Unrealized (gain) loss on derivative instrument (1) 405 214 2,378 (1,150) Loss on early extinguishment of debt (2) - 1,384 2,240 2,086 Amortization of deferred financing costs 387 203 2,101 544 Interest expense 21,825 10,366 76,726 35,994 Impairment of long-lived assets 984 20 1,553 917 Depreciation and amortization 17,104 7,844 57,750 24,051 Goodwill and masthead impairment 225,993 - 225,993 - Adjusted EBITDA from continuing operations 30,165 17,483 104,581 57,595 Non-cash compensation and other expense 7,268 3,229 14,007 5,175 Non-cash portion of postretirement benefits expense 131 416 799 748 Integration and reorganization costs 2,133 1,269 7,490 4,486 Loss on sale of assets 1,461 89 1,495 700 Impact of SureWest Directories purchase accounting 2,941 - 10,189 - Income from discontinued operations 87 - 2,393 - As Adjusted EBITDA 44,186 22,486 140,954 68,704 Net capital expenditures (46)(3) (377) (5,414)(3) (3,902) Interest expense (21,825)(4) (9,289) (71,456)(4) (31,939) Levered Free Cash Flow $22,315 $12,820 $64,084 $32,863 Pro forma EBITDA adjustment 2,370 (5) Pro forma net capital expenditures (250)(5) Pro forma interest expense (133)(5) Pro forma Levered Free Cash Flow $24,302 (1) Non-cash (gain) loss on derivative instruments is related to interest rate swap agreements which are financing related and are excluded from Adjusted EBITDA. (2) Non-cash write-off of deferred financing costs are similar to interest expense and amortization of financing fees and are excluded from Adjusted EBITDA. (3) Net capital expenditures include proceeds from the sale of other assets of $2.6 million and $3.2 million during the three months and twelve months ended December 31, 2007 respectively. (4) Interest expense excludes interest expense on the Bridge Facility for the twelve months ended December 31, 2007 of $5.2 million and interest expense on the revolving credit facility of $0.1 million for the twelve months ended December 31, 2007. The bridge loan was paid off completely and the outstanding balance of the revolving credit facility was repaid with proceeds from our follow-on public offering. (5) Pro forma for all acquisitions for the entire quarter. GATEHOUSE MEDIA, INC. AND SUBSIDIARIES As Adjusted Revenues (In thousands) Three months Three months Twelve months Twelve months ended ended ended ended December 31, December 31, December 31, December 31, 2007 2006 2007 2006 Total revenues from continuing operations $172,202 $97,854 $588,928 $314,930 Revenues from discontinued operations 848 - 8,383 - Total income statement revenues 173,050 97,854 597,311 314,930 Impact of SureWest Directories purchase accounting 4,021 - 14,331 - As Adjusted Revenues $177,071 $97,854 $611,642 $314,930 About GateHouse Media, Inc.

GateHouse Media, Inc., headquartered in Fairport, New York, is one of the largest publishers of locally based print and online media in the United States as measured by its 98 daily publications. GateHouse Media currently serves local audiences of more than 10 million per week across 22 states through hundreds of community publications and local websites. GateHouse Media is traded on the New York Stock Exchange under the symbol "GHS."

For more information regarding GateHouse Media and to be added to our email distribution list, please visit http://www.gatehousemedia.com/.

Forward-Looking Statements

Certain items in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to various risks and uncertainties, including without limitation, statements relating to progress made by the Company in its integration efforts, growth in revenues and cash flow, on-line revenues and potential acquisition opportunities. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "could," "would," "project," "predict," "continue" or other similar words or expressions. Forward looking statements are based on certain assumptions or estimates, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Although the Company believes that the expectations reflected in such forward looking statements are based on reasonable assumptions, actual results and performance could differ materially from those set forth in the forward-looking statements. Factors which could have a material adverse effect on the Company's operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include, but are not limited to, the Company's ability to close on a timely basis upon announced or contemplated transactions, unexpected liabilities arising from any transaction or that the Company will not receive the expected benefits from the transaction, the Company's limited operating history on a combined basis, the Company's ability to generate sufficient cash flow to cover required interest, long-term obligations and dividends, the effect of the Company's indebtedness and long-term obligations on its liquidity, the Company's ability to effectively manage its growth, unforeseen costs associated with the acquisition of new properties, the Company's ability to find suitably priced acquisitions, the Company's ability to integrate acquired assets and businesses, any increases in the price or reduction in the availability of newsprint, seasonal and other fluctuations affecting the Company's revenues and operating results, any declines in circulation, the Company's ability to obtain additional capital on terms acceptable to it, the Company's vulnerability to economic downturns, regulatory changes or acts of nature in certain geographic areas, increases in competition for skilled personnel, departure of key officers, increases in market interest rates, the cost and difficulty of complying with increasing and evolving regulation, and other risks detailed from time to time in the Company's SEC reports, including but not limited to its most recent Annual Report on Form 10-K filed with the SEC under Commission File Number 001-33091. When considering forward- looking statements, readers should keep in mind the risk factors and other cautionary statements in such SEC filings. Readers are also cautioned not to place undue reliance on any of these forward-looking statements, which reflect management's views as of the date of this press release and/or the associated earnings conference call. The factors discussed above and the other factors noted in the Company's SEC filings could cause actual results to differ significantly from those contained in any forward-looking statement. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements and expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

GateHouse Media, Inc.

CONTACT: Mark Maring, Investor Relations, +1-585-598-6874

Web site: http://www.gatehousemedia.com/

Quanta Services to Present at The CitiGroup Small & Mid-Cap Conference

HOUSTON, March 14 /PRNewswire-FirstCall/ -- Quanta Services, Inc. today announced that the company will participate in the CitiGroup Investment Research Small & Mid-Cap Conference to be held March 17 - 19, 2008 at the Four Seasons Hotel in Las Vegas.

John R. Colson, chief executive officer and James H. Haddox, chief financial officer, are scheduled for a company presentation from 2:25 p.m. to 3:00 p.m. PDT on Monday, March 17, 2008. Quanta's presentation will be broadcast live over the Internet. The live web cast link will be available on the company's website at http://www.quantaservices.com/ and will also be archived for replay on the website.

Quanta Services, Inc. is a leading provider of specialized contracting services, delivering infrastructure network solutions for the electric power, natural gas, telecommunications and cable television industries. The company's comprehensive services include engineering, designing, installing, repairing and maintaining network infrastructure nationwide. With operations in all 50 states and Canada, Quanta has the manpower, resources and expertise to complete projects that are local, regional, national or international in scope.

Contacts: James Haddox, CFO Ken Dennard / ksdennard@drg-e.com Reba Reid Kip Rupp / krupp@drg-e.com Quanta Services, Inc. DRG&E 713-629-7600 713-529-6600

Quanta Services, Inc.

CONTACT: James Haddox, CFO, or Reba Reid, both of Quanta Services, Inc.,
+1-713-629-7600; or Ken Dennard, ksdennard@drg-e.com, or Kip Rupp,
krupp@drg-e.com, both of DRG&E, +1-713-529-6600, for Quanta Services, Inc.

Web site: http://www.quantaservices.com/

PacificNet (PACT) Chairman Tony Tong to Present at the Sterne Agee China Technology Investment Conference

SHANGHAI, China, March 14 /Xinhua-PRNewswire-FirstCall/ -- PacificNet, Inc. , a leading provider of gaming and mobile game technology, e- commerce, and Customer Relationship Management (CRM) in China, announced today it will present at the Sterne Agee China Technology Investment Conference on at 1PM on March 20, 2008 at Westin Hotel Bund Center, Shanghai, China. PACT Chairman, Tony Tong, will present the company's gaming technology strategy as well as an overview of the gaming market in Asia

"I am happy to have the opportunity to share our recent development with the investors and analysts visiting China," said Tony Tong. "We are excited about our focus in gaming technology for the expanding gaming markets in Asia and Europe. I believe this trip will be very enlightening to those visiting China for the first time and provide a more hands-on feel for our market and growth potential in Asia."

Sterne Agee is hosting this investor trip to China to hear presentations from and visit leading public and private firms in the Asian market. The trip is organized by industry segment so investors can understand the space across the entire value chain, including channel meetings, expert sessions with industry leaders, and regulatory briefings. The trip begins on Monday, March 17, and continues through Friday, March 21, traveling to two technology hubs, Beijing and Shanghai.

About PACT

PacificNet (PACT) is a leading provider of gaming and mobile game technology worldwide with a focus on emerging markets in Asia, Latin America and Europe. PacificNet's gaming products are localized to their specific markets creating an enhanced user experience for players and larger profits for operators. PacificNet's gaming products include multi- player electronic table games such as baccarat, sicbo and fish-prawn-crab, roulette machines, Server-Based Games (SBG) with multiple client betting stations, slot and bingo machines, Video Lottery Terminals (VLTs), Amusement With Prizes (AWP) machines, gaming cabinet and client/server system designs, online i-gaming software design, and multimedia entertainment kiosks as well as the Octavian line of casino management software, hardware and games. PacificNet's gaming clients include the leading hotels, casinos, and gaming operators in Macau, Europe and elsewhere around the world. PacificNet also maintains legacy subsidiaries in the call center and ecommerce business in China. PacificNet employs about 1,800 staff in its various subsidiaries with offices in the US, Hong Kong, China, UK, Russia, Ukraine, Italy, Germany, Argentina, Colombia, India and Australia. For more information please visit http://www.pacificnet.com/ and http://www.octavianinternational.com/ .

Safe Harbor Statement

This Company's announcement contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the SEC on Forms 10-K, 10-Q, 8-K, etc., in our annual report to shareholders, in our proxy statements, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, PacificNet's historical and possible future losses, limited operating history, uncertain regulatory landscape in China, and fluctuations in quarterly and annual operating results. Further information regarding these and other risks is included in PacificNet's Form 10K and other filings with the SEC.

For more information, please contact: PacificNet USA office: Jacob Lakhany Tel: +1-605-229-6678 PacificNet Beijing office: Becky Zhao Tel: +86-10-59225000 23rd Floor, Building A, TimeCourt, No.6 Shuguang Xili, Chaoyang District, Beijing, China 100028 PacificNet Shenzhen Office: Tel: +86-755-33222088 Room 4203, JinZhongHuan Business Center, Futian District, Shenzhen, China 518040 PacificNet Macau office: Tel: +853-28704154 Unit A-C, 12th Floor, Edificio Commercial I Tak, No. 126, Rua Da Pequim, Macau, China

PacificNet, Inc.

CONTACT: PacificNet USA office - Jacob Lakhany, +1-605-229-6678;
PacificNet Beijing office - Becky Zhao, +86-10-5922-5000, 23rd Floor, Building
A, TimeCourt, No.6 Shuguang Xili, Chaoyang District, Beijing, China 100028;
PacificNet Shenzhen Office - +86-755-3322-2088, Room 4203, JinZhongHuan
Business Center, Futian District, Shenzhen, China 518040; PacificNet Macau
office - +853-2870-4154, Unit A-C, 12th Floor, Edificio Commercial I Tak, No.
126, Rua Da Pequim, Macau, China.

Web Site: http://www.pacificnet.com/
http://www.octavianinternational.com/

Autonomy CEO Awarded Innovator of the YearDr Mike Lynch Wins the Prestigious Accolade During the European Business Leaders Awards 2008 Organized by CNBC Europe in Partnership With the Financial Times

CAMBRIDGE, England and SAN FRANCISCO, March 14 /PRNewswire-FirstCall/ -- Autonomy Corporation plc , a global leader in infrastructure software for the enterprise, today announced that its founder and CEO Dr Mike Lynch was named the winner of the highly coveted Innovator of the Year award for pioneering new approaches to search and information processing technology. Over a hundred European chief executives attended the VIP gala dinner held last night at the Claridge's Hotel in London to celebrate entrepreneurial spirit, business acumen and outstanding leadership.

The European Business Leaders Awards (EBLA) 2008 program, presented by CNBC Europe and for the first time conducted in partnership with the Financial Times, is now in its fifth year and was created to identify and honor those CEOs who are making a difference through leadership and innovation in their sectors. The EBLA are widely regarded as a recognition of outstanding accomplishment as CEOs from the FT Europe 500 are invited to nominate peers they believe are making a significant impact in expanding global business in Europe. The Innovator of the Year category featured prominent CEOs Henning Kagermann of SAP and Olli-Pekka Kallasvuo of Nokia as its other finalists.

Dr Mike Lynch OBE founded Autonomy Corporation plc in 1996 based on his research at Cambridge University and rapidly established the company's reputation as a world-leading provider of infrastructure software for unstructured information and meaning-based technologies. His revolutionary approach to tackling the explosive growth of unstructured, 'human-friendly' information has earned him the reputation of a trend-setter in the software industry.

Meaning-Based Computing enables computers to understand the relationships that exist between disparate pieces of information and perform sophisticated analysis operations with real business value, automatically and in real-time. Over the years Dr Lynch has expanded the Autonomy Group both organically and through a series of strategic, sector-defining acquisitions to convert it in a global player with over 1,500 employees and over 40 offices worldwide. The Innovator of the Year accolade is further recognition of Dr Lynch's innovative approach to addressing complex Information Age challenges.

In accepting his award Dr Lynch thanked the Autonomy team who had made the innovation possible and the City of London fund managers and analysts for backing Autonomy through good and hard times, and providing it with the capital to grow and become a leader in its space.

About Autonomy

Autonomy Corporation plc is a global leader in infrastructure software for the enterprise and is spearheading the meaning-based computing movement. Autonomy's technology forms a conceptual and contextual understanding of any piece of electronic data including unstructured information, be it text, email, voice or video. Autonomy's software powers the full spectrum of mission-critical enterprise applications including information access technology, BI, CRM, KM, call center solutions, rich media management, information risk management solutions and security applications, and is recognized by industry analysts as the clear leader in enterprise search.

Autonomy's customer base comprises of more than 17,000 global companies and organizations including: 3, ABN AMRO, AOL, BAE Systems, BBC, Bloomberg, Boeing, Citigroup, Coca Cola, Daimler Chrysler, Deutsche Bank, Ericsson, Ford, GlaxoSmithKline, Lloyd TSB, NASA, Nestle, the New York Stock Exchange, Reuters, Shell, T-Mobile, the U.S. Department of Energy, the U.S. Department of Homeland Security and the U.S. Securities and Exchange Commission. Autonomy also has over 300 OEM partners and more than 400 VARs and Integrators, numbering among them leading companies such as BEA, Business Objects, Citrix, EDS, IBM Global Services, Novell, Satyam, Sybase, Symantec, TIBCO, Vignette and Wipro. The company has offices worldwide.

The Autonomy Group includes: ZANTAZ, the leader in the archiving, e-Discovery and Proactive Information Risk Management (IRM) markets; Cardiff, a leading provider of Intelligent Document solutions; etalk, award-winning provider of enterprise-class contact center products, Virage, a visionary in rich media management and security and surveillance technology and Meridio, a leading provider of records management software.

Autonomy and the Autonomy logo are registered trademarks or trademarks of Autonomy Corporation plc. All other trademarks are the property of their respective owners.

Autonomy Editorial Contacts: Rowan Gardner Autonomy (UK) +44-1223-448000 rowang@autonomy.com Bite Communications (UK) +44(0)20-8834-3518 autonomy@bitepr.com Edward Bridges Financial Dynamics (UK) +44-207-831-3113 edward.bridges@fd.com Sayo Ogundiran Cohn & Wolfe (US) +1-415-365-8552 cwna-autonomy@cohnwolfe.com

Autonomy Corporation plc

CONTACT: Autonomy Editorial Contacts: Rowan Gardner, Autonomy (UK),
+44-1223-448000, rowang@autonomy.com; Bite Communications (UK) ,
+44(0)20-8834-3518, autonomy@bitepr.com; Edward Bridges, Financial Dynamics
(UK), +44-207-831-3113, edward.bridges@fd.com; Sayo Ogundiran, Cohn & Wolfe
(US), +1-415-365-8552, cwna-autonomy@cohnwolfe.com

ASTELLIA: Resultats annuels 2007: poursuite d'une croissance forte et rentable

RENNES, France, March 14 /PRNewswire/ -- Astellia, spécialiste des solutions d'optimisation pour la gestion de la Qualité de Service (QoS) et la performance des réseaux de téléphonie mobile, annonce un chiffre d'affaires 2007 de 20,9 MEUR, soit une croissance de 26,5% pour une marge d'exploitation de 18,8%, supérieurs aux prévisions des analystes.

Compte de résultat résumé 31/12/2007 % CA 31/12/2006 VAR. (consolidé et audité), en K EUR Chiffre d'affaires 20 877 16 499 26,5% dont France métropolitaine 9 858 47,2% 5 889 67,4% dont Export et DomTom 11 018 52,8% 10 610 3,9% Résultat d'exploitation 3 921 18,8% 3 167 23,9% Excédent brut d'exploitation 4 650 22,3% 3 758 23,7% Résultat courant 3 800 18,2% 3 277 16,1% Intéressement 1 088 5,2% 766 42,0% Résultat net 2 500 12,0% 2 222 13,1%

2007: Croissance et continuité

En 2007 Astellia a généré un chiffre d'affaires de 20, 9 MEUR, en progression de 26,5%, nettement supérieur à l'objectif visé (15%). Le chiffre d'affaires a été réalisé pour 52,8% à l'export et 47,2% en France (contre 63% et 37% en 2006). La répartition des ventes est sensiblement similaire à celle de l'exercice précédent, à savoir : équipements 53% (vs. 54% en 2006), logiciels 23% (vs. 24% en 2006), maintenance 13% (idem en 2006), services 9% (vs. 7% en 2006) et formation 1% (vs. 2% en 2007).

Le résultat d'exploitation est de 3,9 MEUR en progression de 23,9% ; la marge d'exploitation est stable à 18,8% du chiffre d'affaires. A cours de l'exercice 2007, Astellia a renforcé ses équipes (effectifs +32% en 2007, 149 personnes au 31/12/2007) et intensifiée ses efforts de recherche (les frais de R&D sont intégralement passés en charge) ; ces initiatives stratégiques permettent à Astellia de maintenir sa capacité d'innovation technologique (les dépenses de recherches retenues au titre du Crédit d'Impôt Recherche sont en augmentation de 24,3%) et le haut niveau d'implications sollicité par ses clients opérateurs.

Après intéressement des salariés, impôt et crédit impôt recherche le résultat net 2007 s'élève à 2,5 MEUR, en progression de 13,1% par rapport à l'exercice 2006, soit une marge nette de 12%.

Les résultats 2007 d'Astellia contribuent nécessairement à une situation financière saine avec des disponibilités renforcées par l'augmentation de capital et un niveau d'endettement très faible qui fait apparaître un gearing de 8,33 %.

2007 : Des avancées significatives

- Les clients historiques français ont de nouveau plébiscité Astellia pour s'équiper de solutions dédiées à l'optimisation des réseaux de dernière génération et en particulier UMTS.

- Auprès de ses clients internationaux, Astellia a remporté des contrats significatifs notamment avec :

- Telia Denmark qui a sélectionné la gamme complète de solutions de test 2G d'Astellia pour surveiller et dépanner son réseau GSM/GPRS ;

- Mobinil qui a chargé Astellia d'améliorer la performance et le revenu de roaming de son réseau ;

- En Espagne où un opérateur a choisi Astellia pour monitorer son réseau 3G ;

- MTN Côte d'Ivoire qu'Astellia aide à optimiser son réseau GSM/GPRS ;

- L'acquisition de la société ACURIO : Intervenue en mars 2007, elle a permis à Astellia de se doter d'une expertise supplémentaire en matière d'amélioration des performance des réseaux mobile et d'étendre la gamme de solutions proposées à ses clients. La fusion absorption d'Arcurio n'a pas eu d'impact significatif sur les comptes.

- Le recrutement d'un directeur administratif et financier : Arnaud Chazalon, fort de 20 ans d'expérience à la direction financière de groupes internationaux et cotés en bourse, a rejoint Astellia au mois d'août 2007.

- Le développement d'applications innovantes et porteuses, élaborée par les équipes de R&D d'Astellia : << Handset Profiling >> permet de tester le fonctionnement des nouveaux terminaux mobiles et << Packet Services Monitoring et QoE >> génère un rapport sur l'expérience des abonnés dans le cadre de la navigation internet, le streaming et les services FTP.

- Astellia a par ailleurs reçu le prix spécial du Palmarès Deloitte Technology Fast 50 de la région Grand-Ouest, décerné en novembre 2007.

- En Décembre 2007, Astellia a réalisé une augmentation de capital d'environ 8 MEUR (prime d'émission incluse) par émission de 535 118 actions ordinaires nouvelles qui ont abouti à la cotation directe d'Astellia sur Alternext (ALCTX).

Perspectives 2008 : une combinaison d'atouts dans un environnement porteur

Les actions stratégiques mises en place en 2007 et le renforcement de la structure financière d'Astellia permettent d'aborder 2008 avec confiance.

La qualité de services et la performance des réseaux de téléphonie mobile sont au coeur de la stratégie des opérateurs ; Astellia est dotée d'un offre complète et performante qui répond notamment aux besoins actuels de validations, de suivi et d'optimisation du fonctionnement des services, des terminaux, et des réseaux partout dans le monde.

Dans les mois à venir, Astellia continuera d'élargir sa gamme de prestation en proposant notamment un ensemble de solutions innovantes destinées à compléter son offre et à renforcer sa capacité à prendre des parts de marché à l'international. Le niveau des commandes à fin 2007 traduit un fort dynamisme commercial et permet à Astellia de débuter l'année 2008 avec une avance significative.

Agenda financier

Assemblée générale : 13 juin 2008 à Rennes

A proposd'Astellia

Astellia est spécialisée dans la conception, la fabrication et la commercialisation de solutions matérielles et logicielles dédiées à la gestion de la Qualité de Service (Qos) et de la performance des réseaux de téléphonie mobile.

Présente auprès de plus de 130 opérateurs télécoms et équipementiers, Astellia fait partie des premiers acteurs mondiaux dans sa spécialité. Avec des bureaux à Paris, New York, Singapour et Beyrouth, l'offre d'Astellia est commercialisée dans plus de 60 pays.

Les solutions Astellia couvrent notamment les technologies GSM/GPRS/UMTS depuis l'accès jusqu'au coeur du réseau. Elles contribuent à augmenter les revenus de ses clients grâce à un accès simple et rapide aux indicateurs les plus pertinents en vue d'une amélioration de la qualité de service et de la fidélisation de leur clientèle.

La société propose également des services d'audit, de formation et d'assistance. En 2007, Astellia qui a reçu le prix spécial grand ouest du Deloitte Technology Fast 50, a réalisé un chiffre d'affaires de 20,9 millions d'EURuros. Code Isin : FR0004176535 - Mnemo : ALAST

Contacts: Christian Queffelec Marie EIN / Mathieu CALLEUX Président Directeur Général Communication Financière Tel: +33(0)2-99-04-80-60 Tel: +33(0)1-53-65-68-68 infos@astellia.com astellia@calyptus.net

Astellia

Contacts: Christian Queffelec, Président Directeur Général, Tel: +33(0)2-99-04-80-60, infos@astellia.com; Marie EIN / Mathieu CALLEUX, Communication Financière, Tel: +33(0)1-53-65-68-68, astellia@calyptus.net

FiberTower Reports 2007 Fourth Quarter and Full-Year Results

SAN FRANCISCO, March 13 /PRNewswire-FirstCall/ -- FiberTower Corporation , a wireless backhaul services provider, today reported results for the fourth quarter and year ended December 31, 2007.

Positive developments during the fourth quarter of 2007 included the following:

-- Billing T-1s grew by 18% to 14,201 in the fourth quarter from 12,030 at the end of the third quarter of 2007. Billing T-1s grew by 107% year-over-year. -- Billing sites grew 8% to 2,148 in the fourth quarter from 1,991 at the end of the third quarter of 2007. Billing sites grew by 62% year-over-year. -- Billing customer locations grew 18% to 3,851 from 3,252 at the end of the third quarter of 2007. Billing customer locations grew by 113% year-over-year. -- T-1s per billing site increased from 6.04 at September 30, 2007 to 6.61 at December 31, 2007. -- FiberTower's customer location backlog grew 74% to 3,511 from 2,020 at the end of the second quarter of 2007. Customer backlog grew by 120% year-over-year.

Thomas Scott, Chief Financial Officer and Co-President of FiberTower, said, "We are pleased with our 2007 results as they reflected steady progress towards our objective of growing the business by converting customer backlog into revenue generating assets while maintaining our cash liquidity. Our quarterly and full year results demonstrated ongoing operational improvements at both the market and site level."

Ravi Potharlanka, FiberTower's Chief Operating Officer and Co-President, added, "We are pleased to announce the highest quarterly increase in Billing T-1s in our history, and expect greater demand in 2008 driven by increases in mobile broadband usage and new deployment activity from several wireless carriers. FiberTower is well positioned to benefit from these industry trends and maintain its position as the leading alternative provider of backhaul services."

FiberTower continued to focus on penetrating its existing markets and sites during the fourth quarter highlighting the commitment to site density and efficiency. The Company's billing collocation rate grew to 1.79 billing locations per billing site at December 31, 2007 compared to 1.63 at September 30, 2007, reflecting an increased ability to convert available customer locations on already constructed sites. Additionally, T-1s per Top 100 Sites increased from 18.4 at September 30, 2007 to 21.3 at December 31, 2007 and T-1s per Top 200 Sites increased from 15.5 at September 30, 2007 to 18.1 at December 31, 2007. The growing maturity of the Company's sites and markets was further evidenced by the average number of T-1s per Top 500 Sites, which grew from 8.4 at the end of 2006 to 13.4 at the end of 2007.

2007 Fourth Quarter Consolidated Results

Service revenues for the three months ended December 31, 2007 increased $1.0 million, or 14%, to $8.3 million compared to $7.3 million for the third quarter of 2007. The increase in service revenues during the fourth quarter of 2007 was driven by multiple positive trends including the addition of new billing customer locations at already constructed sites and the continued expansion in new sites billing.

Operating expenses in the fourth quarter of 2007 increased by $37.5 million from the third quarter of 2007. Net loss was $129.1 million for the fourth quarter ended December 31, 2007 compared to a net loss of $90.6 million in the third quarter of 2007. Net loss for the fourth quarter included non-cash impairment charges totaling $99.5 million. This was comprised of a charge to goodwill of $86.5 million and a charge to property and equipment of $13.0 million. The charge to property and equipment resulted from an in-depth analysis on the net realizable value of property and equipment that was concluded in the fourth quarter. The net loss per share for the fourth quarter of 2007 was $0.90 compared to a net loss per share of $0.63 for the third quarter of 2007.

On an Adjusted EBITDA basis, the loss in the fourth quarter of 2007 was $14.2 million versus a loss of $12.3 million for the third quarter of 2007. Adjusted EBITDA is defined as net income (loss) from operations before interest, taxes, depreciation and amortization, impairment charges, stock-based compensation and other income (expense). The reconciliation of Adjusted EBITDA, which is a non-GAAP financial measure, is located at the end of this news release.

Fiscal Year 2007 Consolidated Results

Service revenues for the full year 2007 increased $13.4 million or 97%, to $27.1 million as compared to $13.8 million for the same period in 2006. The increase in service revenues during the year was driven by ongoing trends including greater penetration in existing markets resulting in new customers on existing sites, increased T-1s per site and continued expansion in sites billing.

Operating expenses for the full year 2007 increased by $202.9 million from the same period in 2006. Net loss was $272.1 million for the full year 2007 compared to a net loss of $57.3 million for the same period in 2006. The sequential increase in operating expenses and net loss included goodwill impairment charges of $147.9 million and cost of service non-cash impairment charges of $17.6 million recorded in the third and fourth quarters of 2007. The net loss per share for the full year 2007 was $1.90 compared to a net loss per share of $1.11 for the same period in 2006.

On an Adjusted EBITDA basis, the loss in full year 2007 was $52.8 million versus a loss of $40.3 million for the same period in 2006. Adjusted EBITDA is defined as net income (loss) from operations before interest, taxes, depreciation and amortization, impairment charges, stock-based compensation and other income (expense). The reconciliation of Adjusted EBITDA, which is a non-GAAP financial measure, is located at the end of this news release.

Liquidity and Capital Resources

Capital expenditures totaled $25.4 million in the fourth quarter ended December 31, 2007 as compared to $31.9 million in the third quarter. The bulk of capital investments made in the fourth quarter of 2007 were used by FiberTower towards the continued build-out of existing markets, the deployment of Sprint 4G backhaul locations in select markets, and additional deployments in Atlanta. For the full year 2007, capital expenditures totaled $105.3 million compared to $94.7 million for the same period in 2006.

"Maintaining our cash liquidity remains a significant priority for us," said Thomas Scott. "We believe that our current cash position is sufficient to support our continued growth. Additionally, we now have greater flexibility in managing our capital spend through the deployment of a collocation-based strategy, which we expect to facilitate our goal of reaching field EBITDA positive across our markets by mid-2008. We also have the ability to reduce overall capital expenditures as market conditions warrant."

Consolidated cash, cash equivalents and certificates of deposits at December 31, 2007 were $228.3 million.

Conference Call Details

FiberTower has scheduled a conference call for Friday, March 14, 2008 at 9:00 a.m. Eastern Time to discuss 2007 fourth quarter and full year results. Please dial 303-262-2139 and ask for the FiberTower call at least 10 minutes prior to the start time. A telephonic replay of the call will be available through 11:59 p.m. Eastern Time on March 21, 2008 and may be accessed by dialing 303-590-3000 using the passcode 11109858#. An audio archive will also be available on FiberTower's website at http://www.fibertower.com/ shortly after the call and will be accessible for approximately ninety days.

About FiberTower

FiberTower is a backhaul and access services provider focused primarily on the wireless carrier market. With its extensive spectrum footprint in 24 GHz and 39 GHz bands, carrier-class microwave and fiber networks in 13 major markets, customer commitments from six of the leading cellular carriers, and partnerships with the largest tower operators in the U.S., FiberTower is considered to be the leading alternative carrier for wireless backhaul. FiberTower also provides backhaul and access service to government and enterprise markets. For more information, please visit our website at http://www.fibertower.com/.

Use of Non-GAAP Financial Measures

This press release uses the Non-GAAP financial measure "Adjusted EBITDA." Adjusted EBITDA is a financial measure used by the Company to monitor the financial performance of its operations. This measurement, together with GAAP measures such as revenue and income from operations, assists management in decision-making processes relating to the operation of our business. In addition, FiberTower's presentation of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. These Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported financial results as determined in accordance with GAAP.

Forward-Looking Statements

Statements included in this news release which are not historical in nature are "forward-looking statements" within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934 and the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. These include, without limitation, statements regarding the Company's planned capital expenditures, expected cost per site, anticipated customer growth and expansion plans. There are many risks, uncertainties and other factors that can prevent the achievement of goals or cause results to differ materially from those expressed or implied by these forward-looking statements including, without limitation, difficulties in integrating our companies after our merger in 2006, anticipated negative cash flows and operating losses, additional liquidity requirements, potential loss of significant customers, downturns in the wireless communication industry, regulatory costs and restrictions, potential loss of FCC licenses, equipment supply disruptions and cost increases, and competition from alternative backhaul service providers and technologies, along with those risk factors described in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Investor Contact: Gus Okwu / DRG&E 404-532-0086 gokwu@drg-e.com Company Contact: Ornella Napolitano, VP and Treasurer FiberTower Corporation 202-251-5210 onapolitano@fibertower.com Key Operating Metrics 4Q06 1Q07 2Q07 3Q07 4Q07 Billing Sites Billing Sites Added 355 254 265 143 157 Ending Billing Sites 1,329 1,583 1,848 1,991 2,148 Billing Sites / Sites Deployed 67% 70% 75% 75% 76% Billing Customer Locations Billing Customer Locations Added 470 402 613 433 599 Ending Billing Customer Locations 1,804 2,206 2,819 3,252 3,851 Colo rate 1.36 1.39 1.53 1.63 1.79 Billing T-1 Equivalents Billing T-1 Equiv. Added 1,713 1,454 1,884 1,823 2,171 Ending Billing T-1 Equivalents 6,869 8,323 10,207 12,030 14,201 T-1s per Customer Location 3.81 3.77 3.62 3.70 3.69 T-1s/Billing Sites 5.17 5.26 5.52 6.04 6.61 T-1s per site/Top 100 Sites 12.7 13.2 14.2 18.4 21.3 T-1s per site/Top 200 Sites 10.7 11.3 12.2 15.5 18.1 Average MRC per T-1 $239 $234 $229 $218 $215 Sites Deployed FiberTower Sites Constructed 228 276 193 190 158 Ending Sites Deployed 1,996 2,272 2,465 2,655 2,813 Backlog Customer Location Backlog** 1,594 2,020 3,511

Billing Sites are the number of installed sites from which we currently provide T1(s) to customer(s)

Customer Locations Billing are carrier locations at which we currently provide T1(s). FiberTower sites could have multiple customer locations.

Colo rate is the number of customer locations per billing site

Billing T1 Equivalent: A T1 equivalent is either a T1 or another increment of bandwidth of approximately 1.54 megabits per second

Average MRC per T-1 is the average monthly recurring revenue per T-1

Sites Deployed represents the number of sites installed and ready for provision of services. FiberTower sites can be located at cell towers or on rooftop locations.

Customer Location Backlog is the number of sold customer locations not yet billing. (**Note that FiberTower reports backlog on a semi-annual basis)

FIBERTOWER CORPORATION Consolidated Statements of Operations (In thousands, except per share data) (Unaudited) Year Ended December 31, 2007 2006 2005 Service revenues $27,144 $13,763 $6,224 Operating expenses: Cost of service revenues (excluding depreciation and amortization) 54,197 35,952 19,118 Cost of service revenues - Impairment of long-lived assets and other charges 17,551 589 106 Sales and marketing 7,906 6,479 3,822 General and administrative 27,026 18,038 4,444 Depreciation and amortization 18,459 9,077 3,096 Impairment of goodwill 147,893 - - Total operating expenses 273,032 70,135 30,586 Loss from operations (245,888) (56,372) (24,362) Other income (expense): Interest income 18,159 6,326 2,683 Interest expense (44,887) (7,680) (223) Miscellaneous income (expense), net 469 448 (7) Total other income (expense), net (26,259) (906) 2,453 Net loss $(272,147) $(57,278) $(21,909) Basic and diluted net loss per share $(1.90) $(1.11) $(4.92) Weighted average number of shares used in per share amounts: Basic and diluted 143,049 51,542 4,457 FIBERTOWER CORPORATION Consolidated Balance Sheets (In thousands, except par value) (Unaudited) December 31, December 31, 2007 2006 Assets: Current assets: Cash and cash equivalents $223,330 $345,174 Certificates of deposit 5,000 5,000 Short-term investments - 15,253 Restricted cash and investments, current portion 35,757 35,616 Accounts receivable, net of allowances of $151 and $161 at December 31, 2007 and 2006, respectively 3,684 2,904 Prepaid expenses and other current assets 1,840 2,624 Total current assets 269,611 406,571 Restricted cash and investments 1,222 34,906 Property and equipment, net 240,799 171,612 FCC licenses 342,000 342,000 Goodwill 86,093 243,388 Debt issuance costs, net 11,855 14,009 Intangible and other long-term assets, net 3,975 3,992 Total assets $955,555 $1,216,478 Liabilities and Stockholders' Equity: Current liabilities: Accounts payable $13,672 $18,039 Accrued compensation and related benefits 3,369 4,246 Accrued interest payable 4,629 5,333 Other accrued liabilities 3,555 3,528 Total current liabilities 25,225 31,146 Other liabilities 487 1,020 Deferred rent 4,223 1,648 Asset retirement obligations 3,311 2,119 Convertible senior secured notes 415,778 403,759 Deferred tax liability 93,561 102,964 Total liabilities 542,585 542,656 Commitments and contingencies Stockholders' equity: Common stock, $0.001 par value; 400,000 shares authorized, 146,242 and 144,971 shares issued and outstanding at December 31, 2007 and 2006, respectively 146 145 Additional paid-in capital 787,371 776,077 Accumulated deficit (374,547) (102,400) Total stockholders' equity 412,970 673,822 Total liabilities and stockholders' equity $955,555 $1,216,478 FIBERTOWER CORPORATION Consolidated Statements of Cash Flows (In thousands) (Unaudited) Year Ended December 31, 2007 2006 2005 Operating activities Net loss $(272,147) $(57,278)$(21,909) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 18,459 9,077 3,096 Decline in value of embedded derivative (634) (483) - Accretion of convertible notes 12,653 1,742 - Accretion of investments in debt securities (1,791) (480) - Accretion of asset retirement obligations 327 205 65 Amortization of debt issuance costs 2,154 300 - Stock-based compensation 9,150 6,402 234 Loss on disposal of equipment 746 116 5 Impairment and other charges on long-lived assets 17,551 589 106 Impairment of goodwill 147,893 - - Net changes in operating assets and liabilities (excluding impact of business acquisition): Accounts receivable, net (781) (1,999) (495) Prepaid expenses and other current assets 783 (651) (651) Other long-term assets (284) (703) (158) Accounts payable (4,367) (2,628) 11,661 Accrued compensation and related benefits (877) 1,507 1,151 Accrued interest payable (704) 5,333 - Other accrued liabilities and deferred rent 2,935 2,630 1,243 Net cash used in operating activities (68,934) (36,321) (5,652) Investing activities Cash and cash equivalents acquired in merger, net of merger-related costs - 36,732 - Maturities of certificates of deposit - 15,327 - Purchases of short-term investments (75,603) (15,253) - Maturities of short-term investments 91,191 - - Maturities of restricted cash and investments 35,000 2,052 170 Purchase of restricted securities - (68,479) - Purchase of property and equipment (105,267) (94,670) (53,077) Net cash used in investing activities (54,679) (124,291) (52,907) Financing activities Proceeds from issuance of convertible notes, net - 388,190 - Proceeds from issuance of convertible preferred stock, net - - 149,828 Proceeds from exercise of stock options 1,769 660 47 Repayment (issuance) of notes receivable from stockholders - 4,000 (4,000) Cash provided by financing activities 1,769 392,850 145,875 Net increase (decrease) in cash and cash equivalents (119,911) 232,238 87,316 Cash and cash equivalents at beginning of year 345,174 112,936 25,620 Cash and cash equivalents at end of year $225,263 $345,174 $112,936 Supplemental Disclosures Cash paid for interest $36,872 $109 $- Noncash investing and financing activities: Fair value of First Avenue Networks' common stock at date of merger $- $520,160 $- Fair value of First Avenue Networks' common stock options and warrants assumed at date of merger $- $27,501 $- Conversion of convertible preferred stock to common stock $- $220,675 $- Reconciliation of Non-GAAP Financial Measures:

This press release includes the use of a financial measure -- Adjusted EBITDA -- that is a non-GAAP financial measure management uses to monitor the financial performance of the Company. This measurement, together with GAAP measures such as revenue and income from operations, assists management in its decision-making processes relating to the operations of the Company's business. Adjusted EBITDA is defined as net income (loss) from operations before interest, taxes, depreciation and amortization, impairment charges, stock-based compensation and other income (expense). Adjusted EBITDA is not a substitute for operating income, net income (loss), or cash flow from operating activities as determined in accordance with GAAP, as a measure of performance or liquidity. In addition, the Company's presentation of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. These non-GAAP financial measures should be viewed in addition to -- and not as an alternative for -- the Company's reported financial results as determined in accordance with GAAP. The non-GAAP financial measure is presented for additional information and is reconciled to its most comparable GAAP measure below.

Three Months Ended Three Months Ended 12/31/07 9/30/07 Net Loss $(129,069) $(90,639) Depreciation & Amortization 5,097 4,987 Stock Based Compensation 2,814 2,002 Interest Income (3,403) (4,707) Interest Expense 10,975 10,118 Impairment of Goodwill 86,486 61,407 Impairment of Long-Lived Assets & Other Charges 13,050 4,501 Miscellaneous (Income) Expense, Net (189) 66 Adjusted EBITDA $(14,239) $(12,265) Twelve Months Ended Twelve Months Ended 12/31/07 12/31/06 Net Loss $(272,147) $(57,278) Depreciation & Amortization 18,459 9,077 Stock Based Compensation 9,150 6,402 Interest Income (18,159) (6,326) Interest Expense 44,887 7,680 Impairment of Goodwill 147,893 - Impairment Long-Lived Assets & Other Charges 17,551 589 Miscellaneous (Income) Expense, Net (469) (448) Adjusted EBITDA $(52,835) $(40,304)

FiberTower Corporation

CONTACT: Gus Okwu of DRG&E, +1-404-532-0086, gokwu@drg-e.com, for
FiberTower Corporation; or Ornella Napolitano, VP and Treasurer of FiberTower
Corporation, +1-202-251-5210, onapolitano@fibertower.com

Web site: http://www.fibertower.com/

Spreadtrum, Amoi and Kuro Jointly Promote the 'Kangxi Live Show' Concert in Shanghai on March 15

Mobile Music Everywhere

SHANGHAI, China, March. 13 /Xinhua-PRNewswire/ -- Spreadtrum Communications , Amoi Electronics (stock code: 600057) and Kuro today announced their joint participation in the ''Kangxi Live Show'' concert to held at Shanghai Stadium on March. 15, 2008. The concert, hosted by Taiwan's popular TV hosts Dee Hsu (aka ''Little S'') and Kevin Tsai, features performances by up-and-coming young artists, such as Jolin Tsai, Alan Luo and Rainie Yang. This joint promotion expands upon the group's new integrated music service concept ''Mobile Music Everywhere'' for this Olympic year, and follows the joint launch in January by Spreadtrum, Amoi and Kuro of China's first solution for music phones offering copyrighted music downloaded to the handset.

''Mobile Music Everywhere'' is a new integrated music service concept created by Spreadtrum, Amoi and Kuro, to offer copyrighted music service to handsets in China, and was designed to address the growing wireless mobile music market. With mobile music increasing in popularity, music optimized phones are becoming the favored device for the mobile music by consumers. Spreadtrum, as one of China's leading wireless baseband chipset providers, has been committed in its efforts to the continual development and innovation of wireless communications products to help continuously push convergence and advancement of the communications industry. The cooperation of Spreadtrum, Amoi and Kuro to release China's first mobile phone solutions offering copyrighted music and integrated music services not only provides a new business model for convergence and cooperation across industry segments, but is expected to be a good catalyst for China's domestic music service as well. Kuro is a music service provider, legally authorized by most record companies for millions of online copyrighted songs, providing high quality music download services. Through their cooperation, Spreadtrum has embedded Kuro's services onto its chipset platform, so mobile phones equipped with Spreadtrum's chips can enable the functions of a multimedia player and online music download services. As one of China's leading handset manufacturers, Amoi A636 phone is the first to deploy this combination of new functions and download services, allowing music fans to listen to and download copyrighted music. At the same time, the A636 phone is a portable karaoke music device with high quality original music and celebrity photographs, helping users to learn to new songs and become a better karaoke singer in a very short time. In order to better promote the idea that ''high quality music is portable'', as one of the special co-sponsors of the ''Kangxi Live Show'' concert, Kuro will distribute complimentary tickets and commemorative cards before the concert, to help make the concept of ''Mobile Music Everywhere'' more impressive.

Dr. Ping Wu, President and CEO of Spreadtrum, said that Spreadtrum is very delighted to take part in this concert with Amoi and Kuro. ''Mobile Music Everywhere'' is Spreadtrum's concept for integrated service for China's large quantity of consumers of music mobile phones. Different from the other modes of music service in China, it utilizes the convergence of the '4Cs' -- Communication, Chip, Content and Copyright to promote China's music phones and copyright protected music. Spreadtrum's desired goal is to bring richer musical experiences to mobile handset users - to enjoy life with mobile music anytime, anywhere.

Huang Aiping, the vice president of Amoi, pointed out that: "As a leading domestic handset manufacturer, Amoi aims to be an outstanding provider to the music market segment of handsets. It always stands in the front line of the tide of music handsets. From monosyllabic times to the polyphonic era, Amoi has developed a series of products focusing on the consumer's growing demands, and strives to introduce outstanding products which can bring richer musical experiences to consumers. Amoi hopes that this great concert brings not only hot live music but also happy experiences of enjoying mobile music to all the music fans''.

The president of iPeer Multimedia International Ltd., Zheng Qicheng, added that, ''Beijing Kuro Times Tech. Co., Ltd. is the partner of iPeer Multimedia International Ltd. in China. It is our honor to care, support and develop China's mobile digital music jointly with Spreadtrum and Amio. Adhering to its idea of 'Protect copyright and repay to consumers', Kuro will cooperate with more handset manufactures to provide high quality digital music for extensive internet users to listen to and download in the future. In line with the innovated concept of creating ''healthy music'', our aim is to enable everyone to enjoy delightful musical experience anytime anywhere. At the same time, Kuro hopes that China's digital music industry will step onto an optimum way and develop under healthy and well-organized conditions''.

About Spreadtrum:

Spreadtrum Communications, Inc. (Nasdaq: SPRD; "Spreadtrum") is a fabless semiconductor company that designs, develops, and markets baseband processor solutions for the mobile wireless communications market. Spreadtrum combines its semiconductor design expertise with its software development capabilities to deliver highly-integrated baseband processors with multimedia functionality and power management. Spreadtrum has developed its solutions based on an open development platform, enabling its customers to develop customized wireless products that are feature-rich and meet their cost and time-to-market requirements.

For more information, please check: http://www.spreadtrum.com/ About Amoi:

Amoi Electronics Co., Ltd. ("Amoi", stock code: 600057), is a listed public company since 1997 on the Shanghai Stock Exchange, and employees a staff of 20,000 with total assets of RMB4.3 billion. Taking the development, manufacturing and sales of mobile communication products as its main business, Amoi has also realized a 3C (Communication, Consumer Electronics and Computer) integration. Amoi Electronic Town in Xiamen, now the production base of Amoi, occupies around 400,000sqm and has production lines adopting the most advanced and complete manufacturing facilities among China 3C enterprises, including 29 SMT lines and 95 plastic injection equipments. At present, Amoi has reached an annual production capacity of 10 million mobile phones and 2 million others. In addition to a full line of mobile phones, Amoi offers LCD TVs, which are widely welcomed in the television market both in and out of China, and notebook PCs in a special pattern of ODM. In terms of technical research and development, there're three R&D centers founded, respectively in Xiamen, Shanghai and Nanjing, with a staff of around 1,200. To better serve the markets, 30 branches and 300 offices have been put into operation domestically around China, and overseas subsidiaries have been established, firstly in Singapore and the United States, later in the UK, and then in Belgium. Now, Amoi is providing tailor-made 2.5G and 3G phones for leading operators around the globe.

As one of China 3C enterprises with the best R&D and technical capability, Amoi always takes innovation as the core concept running through its technical research & development, product design, and marketing. AMOI insists on customer orientation, and will, through continuous innovation, bring more convenience and happiness to the consumers by providing electronics products with high tech, quality and taste.

To better adapt itself to the changes of industrial environment and customer demands taken place during the past few years, Amoi released its new logo and slogan in mid-2007. The new slogan "touching your future" expresses Amoi's faith and decision to be ceaselessly enterprising and innovative, thus to create a more fashionable lifestyle for the consumers.

About Kuro:

Beijing Kuro Times Tech Co., Ltd. is a digital multimedia content service providing company. Its main business is to create user-friendly driven service, deliver e-CD formatted legal contents with very powerful portable devices download capability.

Safe Harbor Statements:

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements regarding the ability of the new solution of music phones offering copyrighted music to bring richer musical experiences to mobile handset users and to allow consumers to enjoy delightful musical experience anytime anywhere. These statements are forward-looking in nature and involve risks and uncertainties that may cause actual market trends and Spreadtrum's actual results to differ materially from those expressed or implied in these forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to, uncertainty regarding the timing and pace of the market demand and acceptance for music phones offering the capability of downloading copyrighted music; continued competitive pressure in the semiconductor industry and the effect of such pressure on prices; unpredictable changes in technology and consumer demand for mobile handsets; the state of and any change in Spreadtrum's relationships with its major customers; and changes in political, economic, legal and social conditions in China. For additional discussion of these risks and uncertainties and other factors, please consider the information contained in Spreadtrum's filings with the U.S. Securities and Exchange Commission (the "SEC"), including the registration statement on Form F-1 filed on June 26, 2007, as amended, especially the sections under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," and such other documents that Spreadtrum may file with the SEC from time to time, including on Form 6-K. Spreadtrum assumes no obligation to update any forward-looking statements, which apply only as of the date of this press release.

Spreadtrum Communications, Inc.

CONTACT: Media Contact: William Shi, Spreadtrum Communications, +86-10-
62702988 x217, or william.shi@spreadtrum.com

Web site: http://www.spreadtrum.com/

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News archive of December 2009
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