Honeywell Signs Definitive Agreement to Acquire Metrologic Instruments, Innovator of Scanner TechnologyExtends Presence in High-Growth Data Capture and Collection Industry Builds on Acquisition of Hand Held Products

MORRIS TOWNSHIP, N.J., April 28 /PRNewswire-FirstCall/ -- Honeywell today announced a definitive agreement to acquire Metrologic Instruments, Inc., a leading manufacturer of data capture and collection hardware and software, for approximately $720 million. The agreement is subject to customary closing conditions, including regulatory review.

Based in Blackwood, New Jersey, Metrologic is a global provider of laser and imaging bar code scanners, including high performance linear and omnidirectional laser scanners, fixed position and in-counter scanners, area imagers and rugged mobile computers. Metrologic sells its products in more than 110 countries and is majority-owned by Francisco Partners, a global private equity firm.

Metrologic will be integrated with Honeywell Security, part of Honeywell's Automation and Control Solutions (ACS) business. Metrologic's revenue was approximately $246 million in 2007.

"The acquisition of Metrologic adds to the momentum we have generated throughout our ACS business, by focusing on high-growth industries, and is consistent with our disciplined approach to acquisitions," said Roger Fradin, President and CEO of Honeywell ACS. "By building on our recent acquisition of Hand Held Products, a leading manufacturer of Automatic Identification and Data Collection (AIDC) solutions, we will be well-positioned in a $16 billion industry with double-digit growth potential driven by the increased demand for information along the global supply chain."

As a leading manufacturer of advanced bar code scanners and high-speed image processing software, Metrologic incorporates a broad array of laser, holographic, vision-based, RFID and emerging technologies to create its best-in-class products and solutions. Its sophisticated imaging and scanning solutions serve a variety of retail point-of-sale, industrial, healthcare, inventory and distribution applications. Approximately 65 percent of Metrologic's business is with customers outside North America, which will extend the business' global presence.

"Metrologic is very complementary to our Imaging and Mobility business. It will strengthen and expand our presence in key verticals, particularly retail, and provide Honeywell with strong laser and fixed position scanning competencies," said Ben Cornett, President, Honeywell Security. "Through its more than 500 issued and 350 plus pending patents, Metrologic will allow us to extend our position in the data capture and collection industry. We will be able to provide our customers with even more comprehensive, robust data capture and collection solutions to help them achieve their business goals."

"This is a great opportunity for Metrologic and its employees and customers," said Darius Adamczyk, Chief Executive Officer, Metrologic Instruments, Inc. "As part of Honeywell, Metrologic will be able to capitalize on the resources of Honeywell. We are excited about the prospect of gaining access to additional technologies and broader global distribution channels to help us exceed the expectations of our growing and diverse base of customers."

Honeywell International is a $37 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit http://www.honeywell.com/.

This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

Contacts: Media Investor Relations Julie Franklin Murray Grainger (763) 954-6067 (973) 455-2222 julie.franklin@honeywell.com murray.grainger@honeywell.com

Honeywell

CONTACT: Media, Julie Franklin, +1-763-954-6067,
julie.franklin@honeywell.com, or Investor Relations, Murray Grainger,
+1-973-455-2222, murray.grainger@honeywell.com, both of Honeywell

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

Intelligroup Reports First Quarter Financial Results

EDISON, N.J., April 28 /PRNewswire-FirstCall/ -- Intelligroup Inc., a consulting, business optimization, and outsourcing firm serving global corporations, today reported results for its first quarter ended March 31, 2008.

First Quarter Highlights -- Revenue growth: Year over year revenue grew 17.7%; quarter over quarter revenue remained relatively flat. -- Gross Margin: Gross margin improved 10 percentage points year over year and decreased slightly by one percentage point quarter over quarter. -- Operating Margin: Operating margin improved by 13.8 percentage points year over year and decreased by 3.8 percentage points quarter over quarter. -- Utilization rates: Utilization remained relatively flat at 69% year on year and quarter on quarter. -- New Customers: 42 new customers were added globally in the first quarter of 2008. First Quarter Performance

The Company reported first quarter 2008 revenues of $38.5 million, which marks a slight increase from $38.3 million in the fourth quarter of 2007 and a 17.7% increase from $32.7 million in the first quarter of 2007. The Company's average onsite bill rates increased by 3% in the first quarter of 2008 as compared with the fourth quarter of 2007 and by 5% as compared with the first quarter of 2007. The Company's average offshore rates were relatively flat in the first quarter of 2008 as compared with the fourth quarter of 2007 and increased by 10% as compared with the first quarter of 2007. The Company's gross margin decreased slightly to 29.7% for the first quarter of 2008 as compared with 30.8% in the fourth quarter of 2007. Due to its focus on effective cost management strategies, the Company's gross margin improved substantially from 19.8% in the first quarter of 2007 to 29.7% for the first quarter of 2008. The Company reported operating income from continuing operations of $1.7 million, which marks a 45% decrease from $3.1 million in the fourth quarter of 2007 and 156% increase from an operating loss of $3.1 million in the first quarter of 2007.

ABOUT INTELLIGROUP

Intelligroup is a vertically-led ERP focused life cycle management partner serving global corporations as well as public sector clients. Its proven Global delivery model has enabled customers to accelerate results and reduce costs significantly. With deep expertise in industry-specific enterprise solutions, Intelligroup has earned a reputation for consistently exceeding client expectations. Intelligroup develops implements and supports IT solutions for some of the largest U.S. school systems and global corporations including GE, Hershey, Abbott Labs, Eastman Chemical, Hitachi, and Kimball International.

SAFE HARBOR STATEMENT

Certain statements contained herein, including statements regarding the development of services and markets and future demand for services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995).

Such forward-looking statements include risks and uncertainties; consequently, actual results may differ materially from those expressed or implied thereby. Factors that could cause actual results to differ materially include, but are not limited to, variability of quarterly operating results, continued uncertainty of the IT market and revenues derived from application management business, uncertainty in revenues for traditional professional services offerings, loss of one or more significant customers, reliance on large projects, concentration of revenue, unanticipated costs associated with continued litigation, ability to attract and retain professional staff, dependence on key personnel, ability to manage growth effectively, risks associated with strategic partnerships, various project-associated risks, including termination with short notice, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations and other risk factors detailed under the caption "Risk Factors" in Intelligroup's annual report on Form 10-K for the period ended December 31, 2007. Intelligroup disclaims any intention or obligation to update forward looking statements as a result of developments occurring after the date of this press release.

Intelligroup and the Intelligroup logo are registered trademarks and 'Creating the Intelligent Enterprise', 4Sight, 4Sight Plus, ASPPlus, myADVISOR, ASPPlus Power Upgrade Services and Uptimizer are service marks of Intelligroup in the U.S. and other countries. All other trademarks and company names mentioned are the property of their respective owners.

INTELLIGROUP, INC. CONSOLIDATED BALANCE SHEETS MARCH 31, 2008 AND DECEMBER 31, 2007 (in thousands except par value) Mar 31,2008 Dec 31,2007 Unaudited Audited ASSETS CURRENT ASSETS Cash and cash equivalents $9,459 $8,419 Accounts receivable, less allowance for doubtful accounts of $1,237 and $1,240 at March 31, 2008 and December 31, 2007, respectively 25,541 24,493 Unbilled services, less allowance for doubtful accounts of $911 at March 31, 2008 and December 31, 2007 12,202 11,393 Deferred tax asset, current portion 518 589 Prepaid expenses and taxes 1,135 1,567 Other current assets 1,364 1,965 Total current assets 50,219 48,426 Property and equipment, net 6,181 6,470 Goodwill and Intangibles 2,812 3,034 Restricted Cash 4,875 4,848 Deferred taxes and other assets 2,694 2,684 Total assets $66,781 $65,462 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Line of credit borrowings $6,852 $6,566 Accounts payable 3,406 3,542 Accrued payroll and related taxes 11,882 11,645 Accrued expenses and other current liabilities 4,290 4,878 Current portion of deferred revenue 3,300 3,345 Current portion of obligations under capital leases 454 457 Total current liabilities 30,184 30,433 Obligations under capital leases, net of current portion 225 375 Deferred revenue, net of current portion 743 691 Other long-term liabilities 545 579 Total liabilities 31,697 32,078 Commitments and contingencies Shareholders' Equity Preferred stock, $.01 par value, 5,000 shares authorized, none issued or outstanding - - Common stock, $.01 par value, 50,000 shares authorized and 42,160 shares issued and outstanding at March 31 2008 and December 31, 2007 421 421 Additional paid-in capital 71,413 71,119 Accumulated deficit (38,926) (40,789) Accumulated other comprehensive income 2,176 2,633 Total shareholders' equity 35,084 33,384 Total liabilities and shareholders' equity $66,781 $65,462 INTELLIGROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in thousands except per share data) THREE MONTHS ENDED MARCH 31, Unaudited Unaudited 2008 2007 Revenue $38,453 $32,700 Cost of revenue 27,029 26,240 Gross profit 11,424 6,460 Selling, general and administrative expenses 8,998 8,912 Depreciation and amortization 720 598 Total operating expenses 9,718 9,510 Operating Income/(Loss) 1,706 (3,050) Interest income 106 17 Interest expense (161) (209) Other income, net 537 62 Income / (Loss) before income taxes 2,188 (3,180) Provision for income taxes 326 233 Net Income / (Loss) $1,862 $(3,413) Basic net income/(loss) per share $0.04 $(0.08) Diluted net income/(loss) per share $0.04 $(0.08) Weighted average number of common shares outstanding - Basic 42,160 41,933 - Diluted 42,493 41,933 Comprehensive income (loss) Net Income/(loss) $1,862 $(3,413) Other comprehensive income (loss) Currency translation adjustments (457) 387 Comprehensive Income/(loss) $1,405 $(3,026)

Intelligroup Inc.

CONTACT: Investor Relations, investor.relations@intelligroup.com,
+1-732-362-2380; For all other topics, corporatemarketing@intelligroup.com,
+1-732-362-2206

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

Ultra Clean Results in Line With GuidanceSemi-Equipment Softens; Ultra Clean Gains New Solar Mandate

MENLO PARK, Calif., April 28 /PRNewswire-FirstCall/ -- Ultra Clean Holdings, Inc. , a leading developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar and medical device industries, today reported its financial results for the first quarter of 2008. Revenue for the first quarter of 2008 was $92.4 million, effectively flat with fourth quarter of 2007 revenue of $92.8 million, and a decrease of 17%, compared to revenue of $110.8 million for the same period a year ago. The company recorded net income of $1.9 million, or $0.09 per diluted share, during the first quarter of 2008, compared to $2.1 million or $0.09 per diluted share, for the fourth quarter of 2007 and net income of $5.2 million, or $0.24 per diluted share, for the same period a year ago. Gross margin for the first quarter of 2008 was 13.1%, compared to 12.4% for the fourth quarter of 2007, and 15.1% for the same period a year ago.

Clarence Granger, Ultra Clean's Chairman and Chief Executive Officer commented: "We are satisfied with the company's operating performance in the first quarter given the increasingly difficult industry conditions. We hit our guidance range for revenue and earnings per share, captured multiple new business awards from major customers, and continued to grow our solar, flat panel, and medical device revenues. Increasing our activity in these adjacent markets should help to lessen the impact of demand changes in the semiconductor capital equipment industry. We also have significantly streamlined our operations with the goal of remaining profitable during the semi equipment industry downturn preparing for enhanced levels of profitability when the industry cycle returns to growth."

Cash at the end of the first quarter of 2008 was $25.0 million, a decrease of $8.4 million from $33.4 million at the end of the fourth quarter of 2007, and an increase of $0.4 million from $24.6 million at the end of the first quarter of 2007. Third party debt at the end of the first quarter was $21.4 million, a decrease of $0.8 million from $22.2 million at the end of the fourth quarter of 2007 and a decrease of $8.7 million from $30.1 million at the end of the first quarter of 2007.

Granger continued, "I am pleased to announce that, during the quarter, we secured three significant new product awards from two existing major customers, including a new process module on a solar tool. We expect deliveries of the solar module to commence in the third quarter of 2008 and to ramp to volume production in the subsequent quarter. As with the solar gas delivery systems that we currently provide to the same customer, this newly awarded module will be manufactured in our Shanghai, China facilities and delivered directly to the customer in Asia. Incremental revenue from these three new product awards is estimated to be $3-4 million in 2008 and $20-30 million in 2009. These new wins reflect further success toward our stated objectives to grow faster than the semi equipment industry, in part by increasing the portion of our revenue derived from the adjacent markets of the solar, flat panel and medical device industries, and to continue to expand our presence in Asia."

Commenting on Ultra Clean's corporate outlook, Granger noted, "While we remain very confident in our strategic direction, we are cautious about the near term outlook, due to declining industry conditions. We expect that revenue for the second quarter of 2008 will range between $67 million and $74 million, and earnings per share will range between a loss of $0.03 and income of $0.03 per share, inclusive of an expected $0.01 per share charge for amortization of intangibles, a $0.03 per share charge related to SFAS 123(R) and a $0.02 per share charge for employee severance payments."

Ultra Clean will conduct a conference call today, Monday, April 28, 2008, beginning at 2:00 p.m. PDT at 888-561-5097 (domestic) and 706-679-7569 (international). A replay of the webcast will be available for fourteen days following the conference call at 800/642-1687 (domestic) and 706/645-9291 (international). The confirmation number for the live broadcast and replays is 42484125 (all callers). The conference call will also be webcast live and be available for fourteen days on our website.

About Ultra Clean Holdings, Inc.

Ultra Clean Holdings, Inc. is a developer and supplier of critical subsystems for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean's customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, solar and medical device industries. Ultra Clean is headquartered in Menlo Park, California. Additional information is available at http://www.uct.com/.

Safe Harbor Statement

The foregoing information contains, or may be deemed to contain, "forward- looking statements" (as defined in the U.S. Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as "anticipates," "believes," "plan," "expect," "future,"' "intends," "may," "will," "should," "estimates," "predicts," "potential," "continue" and similar expressions to identify these forward-looking statements. Forward looking statements included in the press release include estimates made with respect to our second quarter revenue and diluted earnings per share. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, our actual results may differ materially from the results predicted or implied by these forward- looking statements. These risks, uncertainties and other factors include, among others, those identified in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations'' and elsewhere in our annual report on Form 10-K for the year ended December 28 2007, filed with the Securities and Exchange Commission. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information future developments or otherwise.

Ultra Clean Holdings, Inc. Condensed Consolidated Income Statements Three months ended March 28, March 30, 2008 2007 Sales $92,357 $110,792 Cost of goods sold 80,297 94,035 Gross profit 12,060 16,757 Operating expenses: Research and development 785 842 Sales and marketing 1,633 1,423 General and administrative 6,630 6,597 Total operating expenses 9,048 8,862 Income from operations 3,012 7,895 Interest and other income (expense), net (344) (531) Income before income tax provision 2,668 7,364 Income tax provision 779 2,179 Net income $1,889 $5,185 Net income per share: Basic $0.09 $0.25 Diluted $0.09 $0.24 Shares used in computing net income per share: Basic 21,564 21,113 Diluted 22,067 21,972 Ultra Clean Holdings, Inc. Condensed Consolidated Balance Sheets March 28, December 28, 2008 2007 ASSETS Current assets: Cash and cash equivalents $24,968 $33,447 Accounts receivable 47,757 34,845 Inventory 48,411 49,342 Other current assets 6,699 7,707 Total current assets 127,835 125,341 Equipment and leasehold improvements, net 16,911 14,095 Goodwill 34,196 34,196 Other intangible assets 20,425 20,762 Other non-current assets 594 633 Total assets $199,961 $195,027 LIABILITIES & STOCKHOLDERS' EQUITY Current liabilities Bank borrowings $3,383 $3,575 Accounts payable 38,251 36,817 Other current liabilities 4,720 4,451 Total current liabilities 46,354 44,843 Bank debt and other long-term liabilities 20,648 20,696 Total liabilities 67,002 65,539 Stockholders' equity Common stock 90,674 89,092 Retained earnings 42,285 40,396 Total stockholders' equity 132,959 129,488 Total liabilities and stockholders' equity $199,961 $195,027

Ultra Clean Holdings, Inc.

CONTACT: Jack Sexton, CFO of Ultra Clean Holdings, Inc.,
+1-650-617-4121

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

Spherion Announces First Quarter 2008 Financial Results

FORT LAUDERDALE, Fla., April 28 /PRNewswire-FirstCall/ -- Spherion Corporation today announced financial results for the first quarter ended March 30, 2008.

Spherion President and Chief Executive Officer Roy Krause commented, "Our first quarter results again reflect favorably on our business strategy, especially in light of the continuing decline in U.S. temporary employment. A more favorable Professional Services business mix due to the late 2007 acquisition of Technisource helped drive a higher overall first quarter segment operating profit margin compared with last year. Revenues increased 25% primarily as a result of two strategic acquisitions completed in 2007."

FINANCIAL HIGHLIGHTS - First quarter 2008 revenues were 25% higher year over year, $576 million compared with $462 million last year. - Earnings from continuing operations in the first quarter were $2.2 million, or $0.04 per share, compared with $2.7 million, or $0.05 per share, in the prior year. - Adjusted earnings from continuing operations in the first quarter of 2008 were $2.8 million, or $0.05 per share compared with adjusted earnings in the same prior year period of $4.2 million, or $0.07 per share. Adjusted earnings from continuing operations exclude acquisition integration costs in 2008, and in the prior year certain tax credits and an interest charge related to the purchase of the remaining interest in our Canadian operations. - Earnings before interest, taxes, depreciation and amortization (EBITDA) in the first quarter was $12.7 million compared with $11.7 million in the first quarter last year.

Krause continued, "The weakening U.S. economy started to impact our business as we progressed through the quarter. Our permanent placement activity slowed and there was a greater seasonal pull back in commercial temporary staffing than we expected. While an economic downturn will have a negative impact on short term profitability, we are encouraged that our business grew, that our segment operating profit margin improved and that Technisource, our most recent acquisition, grew about 11% year over year. Additionally, we used operating cash flow and other resources to reduce debt and buy back stock during the quarter."

OPERATING PERFORMANCE

Within Staffing Services, year over year revenues were up 10.5% due to several 2007 acquisitions. Sequentially, revenues were down 12.9% compared with a sequential decline of 9.7% in the same period last year; a result of a greater seasonal pull back in large accounts. Gross profit margins were 18.5% in the first quarter of 2008 compared with 19.2% in the first quarter of 2007, equal to the year over year decline reported in the fourth quarter of 2007. Selling, general and administrative expenses were $66.9 million and decreased to 18.0% of revenue in the first quarter of 2008 compared with $61.9 million or 18.4% of revenue last year. Segment operating profit was $1.8 million or 0.5% compared with $2.8 million or 0.8% of revenue in the first quarter of 2007.

Within Professional Services, revenues were up 63.2% almost entirely due to acquisitions made in 2007. Gross profit margins in the first quarter of 2008 were 29.1% compared with 32.8% in the prior year reflecting the change in mix resulting from a full quarter of revenue from Technisource and a lower proportion of permanent placement revenue. Permanent placement revenue made up 6.4% of total Professional Services revenue in the current quarter compared with 10.8% in the first quarter of 2007. Selling, general and administrative expenses of $48.8 million decreased to 23.9% of revenue in the first quarter of 2008 compared with $34.5 million or 27.6% of revenue in the first quarter last year. Segment operating profit was $10.7 million compared with $6.5 million last year, or 5.2% of revenue in both periods.

OTHER ITEMS

Spherion also announced today that it substantially completed ahead of schedule the business systems and back office integration of Technisource. All of the Company's 2007 acquisitions are now operating on the Company's standard systems.

The Company purchased 889,200 shares of its common stock during the first quarter of 2008 at an average price of $6.39 per share, and has purchased an additional 298,600 shares through the first four weeks of the quarter. The Company continues to purchase shares under the Board of Directors' authorization of up to $25 million of the Company's outstanding common stock. The remaining authorization will enable us to purchase up to $17.5 million of additional stock.

The Company had net debt of $76.5 million and availability on its credit facilities of $104 million at the end of the quarter. Net debt at the end of 2007 was $92.9 million. Capital expenditures during the first quarter were $2.6 million. During the quarter $17.1 million of insurance deposits were refunded to the Company and the proceeds were used to pay down debt; the Company replaced these insurance deposits with letters of credit.

OUTLOOK

Krause commented, "We are managing our business through this period of economic uncertainty and will adjust our cost structure in line with gross profit trends. We will continue to focus on growing the higher margin areas of our business."

Based on the continuation of recent trends, the Company anticipates revenue for the second quarter will be between $570 and $585 million. This range reflects a year over year decline in comparable revenues (i.e., including the acquisitions in the prior year on a pro forma basis) of about 1% to 4%. Adjusted earnings from continuing operations are expected to be between $0.06 and $0.11 per share, assuming a 40% effective tax rate and excluding costs of $1.0 million related to recent acquisitions. Earnings from continuing operations inclusive of the costs are expected to be between $0.05 and $0.10.

ABOUT SPHERION

Spherion Corporation is a leading recruiting and staffing company that provides integrated solutions and breakout specialties to meet the evolving needs of companies and job candidates. As an industry pioneer for more than 60 years, Spherion has sourced, screened and placed millions of individuals in temporary, temp-to-hire and full-time jobs.

With approximately 700 locations in the United States and Canada, Spherion delivers innovative workforce solutions that improve business performance. Spherion provides its services to more than 8,000 customers, from Fortune 500 companies to a wide range of small and mid-size organizations. Employing more than 300,000 people annually through its network, Spherion is one of North America's largest employers. Spherion operates under the following brands: Spherion Staffing Services Group for administrative, clerical and light industrial workers; Technisource for technology professionals and solutions; The Mergis Group for accounting and finance and other professional positions; Todays Office Professionals for specialty administrative personnel; and Spherion Recruitment Process Outsourcing. To learn more, visit http://www.spherion.com/

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. Factors that could cause future results to differ from current expectations include risks associated with: Competition - our business operates in highly competitive markets with low barriers to entry; Economic conditions - any significant economic downturn could result in lower revenues or a significant reduction in demand from our customers may result in a material impact on the results of our operations; Corporate strategy - we may not achieve the intended effects of our business strategy; Termination provisions - certain contracts contain termination provisions and pricing risks; Failure to perform - our failure or inability to perform under customer contracts could result in damage to our reputation and give rise to legal claims; Disposition of businesses - the disposition of businesses previously sold may create contractual liabilities associated with indemnifications provided; Business interruptions - natural disasters or failures with hardware, software or utilities could adversely affect our ability to complete normal business processes; Tax filings - regulatory challenges to our tax filing positions could result in additional taxes; Personnel - our business is dependent upon the availability of qualified personnel and we may lose key personnel which could cause our business to suffer; Litigation - we may be exposed to employment-related claims and costs and we are a defendant in a variety of litigation and other actions from time to time; Common stock - the price of our common stock may fluctuate significantly, which may result in losses for our investors; Government Regulation - government regulation may increase our costs; International operations - we are subject to business risks associated with our operations in Canada which could make those operations more costly; Integrating acquisitions - managing or integrating any future acquisitions may strain our resources; and Debt compliance - failure to meet certain covenant requirements under our credit facility could impact part or all of our availability to borrow. These and additional factors discussed in this release and in Spherion's filings with the Securities and Exchange Commission could cause the Company's actual results to differ materially from any projections contained in this release.

Spherion Corporation prepares its financial statements in accordance with generally accepted accounting principles (GAAP). Organic revenue growth is a non-GAAP financial measure, which includes pro-forma revenues of acquired companies. Adjusted earnings from continuing operations is a non-GAAP financial measure, which excludes certain non-operating related charges. Items excluded from the calculation of adjusted earnings from continuing operations include interest expense related to adjustment of the Canadian purchase liability and restructuring and other charges related to acquisitions. EBITDA from continuing operations is a non-GAAP financial measure which excludes interest, taxes, depreciation and amortization from earnings from continuing operations. Organic growth, adjusted earnings and EBITDA from continuing operations are key measures used by management to evaluate its operations. Management includes revenues prior to acquisition date for acquired companies in the organic revenue growth calculation in order to evaluate the Company's operating performance. Organic growth, adjusted earnings and EBITDA from continuing operations should not be considered measures of financial performance in isolation or as an alternative to revenue growth or earnings from continuing operations or net earnings (loss) as determined in the Statement of Earnings in accordance with GAAP, and, as presented, may not be comparable to similarly titled measures of other companies, and therefore this measure has material limitations. Items excluded from adjusted earnings from continuing operations are significant components in understanding and assessing financial performance.

SPHERION CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (unaudited, in thousands, except per share amounts) Three Months Ended March 30, April 1, 2008 2007 Revenues (1) $576,463 $461,869 Cost of services (2) 448,295 356,148 Gross profit 128,168 105,721 Selling, general and administrative expenses 119,903 99,620 Amortization of intangibles 2,044 40 Interest expense 1,749 1,951 Interest income (179) (1,283) Restructuring and other charges 996 - 124,513 100,328 Earnings from continuing operations before income taxes 3,655 5,393 Income tax expense (1,462) (2,646) Earnings from continuing operations 2,193 2,747 Loss from discontinued operations, net of tax (911) (141) Net earnings $1,282 $2,606 Earnings per share, Basic and Diluted: Earnings from continuing operations $0.04 $0.05 Loss from discontinued operations (0.02) - $0.02 $0.05 Weighted-average shares used in computation of earnings per share: Basic 55,740 56,551 Diluted 56,303 57,090 (1) Includes sales of all company-owned and licensed offices and royalties on sales of franchised offices. (2) Gross profit is revenues less temporary employee wages, employment related taxes such as FICA, federal and state unemployment taxes, medical and other insurance for temporary employees, workers' compensation, benefits, billable expenses and other direct costs. SPHERION CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands, except share data) March 30, December 30, Assets 2008 2007 Current Assets: Cash and cash equivalents $11,047 $15,324 Receivables, less allowance for doubtful accounts of $5,044 and $6,523, respectively 333,708 347,908 Deferred tax asset 15,129 13,413 Insurance deposit 561 6,986 Other current assets 26,006 22,606 Total current assets 386,451 406,237 Goodwill 144,486 146,584 Property and equipment, net of accumulated depreciation of $122,892 and $109,229 respectively 74,638 78,077 Deferred tax asset 100,068 102,024 Trade names and other intangibles, net 74,723 76,776 Insurance deposit - 11,259 Other assets 21,105 23,861 $801,471 $844,818 Liabilities and Stockholders' Equity Current Liabilities: Current portion of long-term debt and revolving lines of credit $67,591 $86,035 Accounts payable and other accrued expenses 73,848 79,779 Accrued salaries, wages and payroll taxes 71,523 78,850 Accrued insurance reserves 21,478 19,174 Accrued income tax payable 1,496 1,042 Other current liabilities 13,519 16,419 Total current liabilities 249,455 281,299 Long-term debt, net of current portion 19,960 22,148 Accrued insurance reserves 18,290 20,501 Deferred compensation 14,700 17,287 Other long-term liabilities 3,034 2,923 Total liabilities 305,439 344,158 Stockholders' Equity: Preferred stock, par value $0.01 per share; authorized, 2,500,000 shares; none issued or outstanding - - Common stock, par value $0.01 per share; authorized, 200,000,000; issued 65,341,609 shares 653 653 Treasury stock, at cost, 10,216,782 and 9,443,034 shares, respectively (88,396) (83,681) Additional paid-in capital 848,388 848,628 Accumulated deficit (272,111) (273,393) Accumulated other comprehensive income 7,498 8,453 Total stockholders' equity 496,032 500,660 $801,471 $844,818 SPHERION CORPORATION AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION (unaudited, in thousands, except per share amounts) Management Guidance Three Months Three Months Ended Ended June 29, March 30, April 1, 2008 2008 2007 Adjusted earnings from continuing operations $2,800 $4,239 Adjustment of Canadian Acquisition - (1,492) Restructuring and other charges, net of tax benefit (607) - Earnings from continuing operations 2,193 2,747 Loss from discontinued operations, net of tax (911) (141) Net earnings $1,282 $2,606 Per share-Diluted amounts (1): Adjusted earnings from continuing operations $0.06 to $0.11 $0.05 $0.07 Adjustment of Canadian Acquisition - - (0.03) Restructuring and other charges, net of tax benefit (0.01) (0.01) - Earnings from continuing operations $0.05 to $0.10 0.04 0.05 Loss from discontinued operations, net of tax (0.02) - Net earnings $0.02 $0.05 Diluted weighted-average shares used in computation of earnings per share 56,303 57,090 (1) Earnings per share amounts are calculated independently for each component and may not add due to rounding. RECONCILIATION OF EBITDA TO EARNINGS FROM CONTINUING OPERATIONS Three Months Ended March 30, April 1, 2008 2007 EBITDA from continuing operations $12,664 $11,659 Interest income 179 1,283 Interest expense (1,749) (1,951) Depreciation and amortization (2) (7,439) (5,598) Earnings from continuing operations before income taxes 3,655 5,393 Income tax expense (1,462) (2,646) Earnings from continuing operations $2,193 $2,747 EBITDA as a percentage of revenue 2.2% 2.5% (2) Includes depreciation and amortization from continuing operations only. SPHERION CORPORATION AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION (unaudited) RECONCILIATION OF YEAR-OVER-YEAR ORGANIC(1) REVENUE GROWTH Three Months Ended March 30, 2008 Total Staffing Professional Company Services Services Organic revenue growth 0.2% 0.1% 0.5% Impact of acquisitions and business reclassifications 24.6% 10.4% 62.7% GAAP revenue growth 24.8% 10.5% 63.2% Three Months Ended March 30, 2008 Revenue Growth Rate Revenue Growth Rate by Skill by Service Total Light Total Permanent Temporary Managed Staff- Cleri- Indus- Staff- Place- Staff- Serv- ing cal trial ing ment ing (2) ices(2) Staffing Services Organic revenue growth 0.1% (2.0%) 3.0% 0.1% (15.0%) (1.0%) 10.0% Impact of acquisitions and business reclassifi- cations 10.4% 12.8% 7.0% 10.4% 11.1% 15.6% (23.7%) GAAP revenue growth 10.5% 10.8% 10.0% 10.5% (3.9%) 14.6% (13.7%) Three Months Ended March 30, 2008 Revenue Growth Rate Revenue Growth Rate by Skill by Service Informa- Perma- Tempo- Total tion Finance & Total nent rary Profes- Technol- Account- Oth- Profes- Place- Staff- sional ogy ing er sional ment ing(2) Professional Services Organic revenue growth 0.5% (1.4%) 1.2% 17.4% 0.5% (11.0%) 1.0% Impact of acquisitions and business reclassifi- cations 62.7% 91.2% 8.5% (1.6%) 62.7% 7.9% 70.2% GAAP revenue growth 63.2% 89.8% 9.7% 15.8% 63.2% (3.1%) 71.2% (1) Organic revenue growth is calculated assuming that all acquisitions were consumated on January 1, 2007. This calculation has the effect of adding revenues for the acquired businesses prior to their acquisition dates to Spherion Corporation's reported revenues. In addition, organic revenue growth is calculated assuming that business reclassifications were effective on January 1, 2007, so that revenues for this business are included in the same segment, skill and service in the current and prior period for purposes of calculating year over year growth. (2) Effective with the first quarter of 2008, the management of certain customer contracts was transferred between operating segments, primarily to Professional Services from Staffing Services, and has been adjusted for purposes of calculating organic growth. SPHERION CORPORATION AND SUBSIDIARIES SEGMENT INFORMATION (unaudited, dollar amounts in thousands) Three Months Ended March 30, April 1, December 30, 2008 2007 2007 Revenues: Staffing Services $372,010 $336,580 $427,091 Professional Services 204,453 125,289 154,509 Segment revenue $576,463 $461,869 $581,600 Gross profit: Staffing Services $68,716 $64,650 $85,202 Professional Services 59,452 41,071 49,399 Segment gross profit $128,168 $105,721 $134,601 Segment SG&A Staffing Services $(66,923) $(61,899) $(73,120) Professional Services (48,764) (34,531) (41,324) Segment SG&A $(115,687) $(96,430) $(114,444) Segment operating profit: Staffing Services $1,793 $2,751 $12,082 Professional Services 10,688 6,540 8,075 Segment operating profit 12,481 9,291 20,157 Unallocated corporate costs (4,216) (3,190) (4,016) Amortization of intangibles (2,044) (40) (868) Interest expense (1,749) (1,951) (1,155) Interest income 179 1,283 869 Restructuring and other charges (996) - (700) Earnings from continuing operations before income taxes $3,655 $5,393 $14,287 MEMO: Gross profit margin: Staffing Services 18.5% 19.2% 19.9% Professional Services 29.1% 32.8% 32.0% Total Spherion 22.2% 22.9% 23.1% Segment SG&A: Staffing Services 18.0% 18.4% 17.1% Professional Services 23.9% 27.6% 26.7% Total Spherion 20.1% 20.9% 19.7% Segment operating profit margin: Staffing Services 0.5% 0.8% 2.8% Professional Services 5.2% 5.2% 5.2% Total Spherion 2.2% 2.0% 3.5% Supplemental Cash Flow Information: Operating cash flow $8,263 $9,587 $19,824 Capital expenditures $2,607 $2,319 $2,318 Depreciation and amortization $7,439 $5,745 $6,225 DSO 53 53 51 SPHERION CORPORATION AND SUBSIDIARIES SUPPLEMENTAL FINANCIAL INFORMATION (unaudited, dollar amounts in thousands) Three Months Ended March 30, April 1, December 30, 2008 2007 2007 Staffing Services Revenue by Skill: Clerical $241,681 $218,081 $264,668 Light Industrial 130,329 118,499 162,423 Segment Revenue $372,010 $336,580 $427,091 Revenue by Service: Temporary Staffing $327,861 $286,035 $371,012 Managed Services (1) 39,055 45,244 50,254 Permanent Placement 5,094 5,301 5,825 Segment Revenue $372,010 $336,580 $427,091 Gross Profit Margin by Service: (As % of Applicable Revenue) Temporary Staffing 15.6% 16.2% 17.1% Managed Services 31.9% 28.9% 31.9% Permanent Placement 100.0% 100.0% 100.0% Total Staffing Services 18.5% 19.2% 19.9% Professional Services Revenue by Skill: Information Technology $156,407 $82,417 $107,847 Finance & Accounting 28,828 26,283 27,503 Other 19,218 16,589 19,159 Segment Revenue $204,453 $125,289 $154,509 Revenue by Service: Temporary Staffing (1) $191,303 $111,719 $141,966 Permanent Placement 13,150 13,570 12,543 Segment Revenue $204,453 $125,289 $154,509 Gross Profit Margin by Service: (As % of Applicable Revenue) Temporary Staffing 24.2% 24.6% 26.0% Permanent Placement 100.0% 100.0% 100.0% Total Professional Services 29.1% 32.8% 32.0% (1) Effective with the first quarter of 2008, the management of certain customer contracts was transferred to Professional Services from Staffing Services.

Spherion Corporation

CONTACT: Investors, Randy Atkinson, +1-954-308-7639,
randalatkinson@spherion.com, or Media, Kip Havel, +1-800-422-3819,
kiphavel@spherion.com, both of Spherion Corporation

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

CenturyTel to Participate in Analyst Conferences

MONROE, La., April 28 /PRNewswire-FirstCall/ -- CenturyTel, Inc. announces that it is scheduled to participate in the following analyst conferences:

Morgan Stanley 13th Annual Tuesday Global Media & Communications Conference May 13, 2008 Oppenheimer Wednesday Annual Communication & Technology Conference June 4, 2008 Credit Suisse Convergence Conference Thursday June 12, 2008

Conference hosts may provide webcast availability in some cases. For information regarding the specific presentation times and webcast availability, please visit the Investor Calendar on CenturyTel's Investor Relations Web site at ir.centurytel.com. Participation in these conferences is subject to change due to unforeseen events. Therefore, please check the company's Investor Calendar prior to the conference.

CenturyTel is a leading provider of communications, high-speed Internet and entertainment services in small-to-mid-size cities through our broadband and fiber transport networks. Included in the S&P 500 Index, CenturyTel delivers advanced communications with a personal touch to customers in 25 states. Visit us at http://www.centurytel.com/.

CenturyTel, Inc.

CONTACT: Tony Davis of CenturyTel, Inc., +1-318-388-9525,
tony.davis@centurytel.com

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

RELM Wireless to Host First Quarter 2008 Conference Call on Thursday, May 8, 2008 at 9:00 a.m. EDT

WEST MELBOURNE, Fla., April 28 /PRNewswire-FirstCall/ -- RELM Wireless Corporation , which designs, manufactures and markets two-way radio communications equipment, will host a conference call to discuss its first quarter 2008 operating results on Thursday, May 8, 2008 at 9:00 a.m. EDT. On the call, David Storey, President and Chief Executive Officer, and William Kelly, Executive Vice President and Chief Financial Officer, will discuss results for the quarter and review operational matters and other business developments.

The Company will release its first quarter operating results after the close of market trading on Wednesday, May 7, 2008.

Shareholders and interested parties may participate in the conference call by dialing 800-860-2442 (international and local participants dial 412-858-4600) and asking to be connected to the RELM Wireless Corp. Conference Call. The call will also be web cast at http://www.relm.com/. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the web cast. An online archive of the web cast will be available on the Company's website for 30 days following the call at http://www.relm.com/. A replay of the conference call will be available one hour after completion of the call until May 15, 2008 at 5:00 p.m. EDT by dialing 877-344-7529 (international/local participants dial 412-317-0088) and entering conference I.D. # 418607.

About RELM Wireless

For over six decades, RELM Wireless Corp. has manufactured and marketed high-specification two-way communications equipment for use by public safety professionals and government agencies, as well as radios for use in a wide range of commercial and industrial applications, including disaster recovery. Advances include new interoperable, digital two-way radios compliant with APCO Project 25 technical specifications. Products are manufactured and distributed worldwide under BK Radio, RELM/BK and RELM product lines. The company maintains its headquarters in West Melbourne, Florida and can be contacted through its web site at http://www.relm.com/ or directly at 800-821-2900.

RELM Wireless Corporation

CONTACT: William P. Kelly, EVP & CFO, RELM Wireless Corporation,
+1-321-984-1414; Investor Relations: R Jerry Falkner, CFA, RJ Falkner &
Company, Inc., +1-800-377-9893, info@rjfalkner.com, for RELM Wireless
Corporation

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

Authentidate Holding Corp. to Report Third Quarter 2008 Results on Thursday, May 8, 2008

BERKELEY HEIGHTS, N.J., April 28 /PRNewswire-FirstCall/ -- Authentidate Holding Corp. , a worldwide provider of secure workflow management software and web-based services, today announced that it plans to report financial results for the third quarter ended March 31, 2008 on Thursday, May 8, 2008 after the close of market trading.

Management will host a conference call at 4:30 p.m. ET on Thursday, May 8, 2008, to discuss the latest corporate developments and results. The dial-in number for callers in the U.S. is (888) 889-5602 and the dial in number for international callers is (973) 582-2737. The access code for all callers is 45496823. To access the live webcast, visit http://www.authentidate.com/, click the "About Us" link, followed by "Investor Relations" on the drop-down menu and then the "Audio Archives" link. Following the conclusion of the call, the webcast will also be archived on the Company's website.

A replay of the call will be available through May 15, 2008. To access the replay, please dial (800) 642 1687 in the U.S. and (706) 645 9291 internationally, and then enter the access code 45496823. A live web cast will be available on the Company's website.

About Authentidate Holding Corp.

Authentidate Holding Corp. is a worldwide provider of secure workflow management software and web-based services. The company's automated and trusted workflow solutions enable enterprises and office professionals to employ rules-based electronic forms, intelligent routing and transaction management, electronic signing, content authentication, identity credentialing and verification and web and fax based communication capabilities. Customer benefits from the company's offerings include reduced costs, improved productivity and service levels, automated audit trails, enhanced compliance with regulatory requirements and the reduction of paper-based processes. The company has offices in the United States and Germany. In the United States we offer our patent pending content authentication technology in the form of the United States Postal Service(R) Electronic Postmark(R) (EPM).

For more information, visit the company's website at http://www.authentidate.com/.

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of the Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, related decisions by the USPS, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.

A copy of this press release, and of past press releases, is available on the KCSA Worldwide Website at http://www.kcsa.com/.

Investor Contacts: Media Contacts: Todd Fromer / Garth Russell Erika Kay KCSA Worldwide KCSA Worldwide 212-896-1215 / 212-896-1250 212-896-1208 tfromer@kcsa.com / grussell@kcsa.com ekay@kcsa.com

Authentidate Holding Corp.

CONTACT: Investor Contacts: Todd Fromer, +1-212-896-1215,
tfromer@kcsa.com, or Garth Russell, +1-212-896-1250, grussell@kcsa.com; Media
Contacts: Erika Kay, +1-212-896-1208, ekay@kcsa.com, all of KCSA Worldwide for
Authentidate Holding Corp.

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

Sauer-Danfoss Inc. Reports First Quarter 2008 Results-- All-Time Record Sales and Earnings-- Significant Margin Improvement-- New Orders and Backlog Remain Strong-- Sales and Earnings Guidance Raised for the Full Year 2008

CHICAGO, April 28 /PRNewswire-FirstCall/ -- Sauer-Danfoss Inc. today announced financial results for its first quarter ended March 31, 2008. Net sales for the quarter increased 18 percent to $617.4 million, compared to net sales of $523.1 million for the first quarter 2007. Net income for the quarter rose 81 percent to $27.9 million, or $0.57 per share, compared to $15.4 million, or $0.32 per share for the first quarter 2007. First quarter 2008 net income included a one-time gain on the sale of a building of approximately $1.5 million, or $0.02 per share, related to the previously completed restructuring program. First quarter 2007 results included restructuring costs of $11.9 million, or $0.21 per share.

David Anderson, President and Chief Executive Officer, stated, "This was an outstanding quarter for Sauer-Danfoss, reporting the highest quarterly sales and earnings in the history of the Company. The growth in revenue was across all regions and business segments. Importantly, our operating margin improved significantly, led by the impressive performance in our Propel segment. We continue to address capacity constraints and operational issues in our Work Function and Controls divisions, which should result in margin improvement later this year and into 2009."

Excluding the impact of currency translation rate changes and divestitures, sales for the first quarter 2008 increased 13 percent over the prior year period with growth of 8 percent in the Americas, 14 percent in Europe and 34 percent in the Asia-Pacific region.

For the first quarter 2008, excluding the impact of currency translation rate changes and divestitures, sales in the Propel segment increased 15 percent, sales in the Work Function segment increased 9 percent, and sales in the Controls segment increased 13 percent compared with the prior year.

Anderson commented, "Our sales growth is quite impressive considering the economic concerns in some of the U.S. and world markets. Our growth was led by strong sales into Ag equipment markets in both the Americas and European regions, highlighting the benefit of our geographic diversification."

Orders and Backlog Support Continued Growth

Orders received for the first quarter 2008 were $677.9 million, up 22 percent from the same period last year. Excluding currency translation rate changes and divestitures, orders were up 13 percent.

Total backlog at the end of first quarter 2008 was $1,035.8 million, a 56 percent increase from the end of first quarter 2007. Excluding currency translation rate changes and divestitures, backlog was up 41 percent.

Anderson stated, "Even though economic uncertainty continues to exist in some of our markets, our order level and backlog reflect our ability to consistently outgrow our served markets. This capability is a result of the combined strength of our product portfolio and applications know-how. The bottom line is, we've been able to continually increase our dollar content on customer vehicles and win market share, offsetting overall market declines."

First Quarter Cash Flow

Cash flow from operations for the first quarter 2008 was $14.3 million, compared to last year's $2.1 million. Capital expenditures for the first quarter 2008 were $35.1 million, a planned capacity-focused increase from last year's $24.9 million. The debt to total capital ratio, or leverage ratio, was 43 percent at the end of the first quarter 2008, level with year-end.

Outlook

"Our record first quarter sales and results, along with a strong backlog, give us reason to raise our outlook for the full year," Anderson said. "We now expect full year 2008 earnings to be $1.50 to $1.65 per share based on a sales growth of 9 to 11 percent and capital expenditures to be 7 to 8 percent of sales."

Webcast Information

Members of Sauer-Danfoss' management team will host a Webcast on April 29 at 10 AM Eastern Time to discuss 2008 first quarter results. The call is open to all interested parties on listen-only mode via an audio webcast and can be accessed through the Investor Relations page of the Company's website at http://ir.sauer-danfoss.com/. A replay of the call will be available at that site through May 29, 2008.

About Sauer-Danfoss

Sauer-Danfoss Inc. is a worldwide leader in the design, manufacture, and sale of engineered hydraulic, electric and electronic systems and components, for use primarily in applications of mobile equipment. Sauer-Danfoss, with 9,800 employees worldwide and revenue of approximately $2.0 billion, has sales, manufacturing, and engineering capabilities in Europe, the Americas, and the Asia-Pacific region. The Company's executive offices are located near Chicago in Lincolnshire, Illinois and in Neumunster, Germany. More details online at http://www.sauer-danfoss.com/.

This press release contains certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. All statements regarding future performance, growth, sales and earnings projections, conditions or developments are forward-looking statements. Words such as "anticipates," "in the opinion," "believes," "intends," "expects," "may," "will," "should," "could," "plans," "forecasts," "estimates," "predicts," "projects," "potential," "continue," and similar expressions may be intended to identify forward-looking statements.

Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors. Readers should bear in mind that past experience may not be a good guide to anticipating actual future results. The economy in the U.S. remains unstable due to the repercussions of the deterioration in the credit markets, the weak housing and residential construction markets, and uncertainty surrounding job creation, interest rates and crude oil prices. The European economy has been strong for some time but may be reaching its peak, with inevitable declines to follow. Any downturn in the Company's business segments could adversely affect the Company's revenues and results of operations. Other factors affecting forward-looking statements include, but are not limited to, the following: specific economic conditions in the agriculture, construction, road building, turf care, material handling and specialty vehicle markets and the impact of such conditions on the Company's customers in such markets; the cyclical nature of some of the Company's businesses; the ability of the Company to win new programs and maintain existing programs with its original equipment manufacturer (OEM) customers; the highly competitive nature of the markets for the Company's products as well as pricing pressures that may result from such competitive conditions; the continued operation and viability of the Company's significant customers; the Company's execution of internal performance plans; difficulties or delays in manufacturing; cost-reduction and productivity efforts; competing technologies and difficulties entering new markets, both domestic and foreign; changes in the Company's product mix; future levels of indebtedness and capital spending; claims, including, without limitation, warranty claims, field retrofit claims, product liability claims, charges or dispute resolutions; ability of suppliers to provide materials as needed and the Company's ability to recover any price increases for materials in product pricing; the Company's ability to attract and retain key technical and other personnel; labor relations; the failure of customers to make timely payment; any inadequacy of the Company's intellectual property protection or the potential for third-party claims of infringement; global economic factors, including currency exchange rates; general economic conditions, including interest rates, the rate of inflation, and commercial and consumer confidence; energy prices; the impact of new or changed tax and other legislation and regulations in jurisdictions in which the Company and its affiliates operate; changes in accounting standards; worldwide political stability; the effects of terrorist activities and resulting political or economic instability; natural catastrophes; U.S. military action overseas; and the effect of acquisitions, divestitures, restructurings, product withdrawals, and other unusual events.

The Company cautions the reader that these lists of cautionary statements and risk factors may not be exhaustive. The Company expressly disclaims any obligation or undertaking to release publicly any updates or changes to these forward-looking statements that may be made to reflect any future events or circumstances. The foregoing risks and uncertainties are further described in Item 1A (Risk Factors) in the Company's latest annual report on Form 10-K filed with the SEC, which should be reviewed in considering the forward- looking statements contained in this press release.

Internet: http://www.sauer-danfoss.com/ CONDENSED CONSOLIDATED STATEMENTS OF INCOME Three Months Ended (Dollars in thousands March 31, March 31, except share and per share data) 2008 2007 Net sales 617,399 523,132 Cost of sales 469,674 398,547 Gross profit 147,725 124,585 Research and development 19,286 16,850 Selling, general and administrative 67,982 61,852 Net (gain)/loss on disposal of fixed assets (1,212) 252 Loss on sale of business -- 6,230 Total operating expenses 86,056 85,184 Income from operations 61,669 39,401 Nonoperating expenses: Interest expense, net (6,487) (5,356) Minority interest (8,939) (8,384) Other, net (3,836) (1,112) Income before income taxes 42,407 24,549 Income taxes (14,544) (9,180) Net income 27,863 15,369 Net income per share: Basic net income per common share 0.58 0.32 Diluted net income per common share 0.57 0.32 Weighted average shares outstanding Basic 48,210 48,085 Diluted 48,514 48,269 Cash dividends declared per common share 0.18 0.18 BUSINESS SEGMENT INFORMATION Three Months Ended March 31, March 31, (Dollars in thousands) 2008 2007 Net sales Propel 311,658 256,970 Work Function 160,486 138,373 Controls 145,255 127,789 Total 617,399 523,132 Segment Income (Loss) Propel 65,437 45,673 Work Function 4,388 2,479 Controls 4,875 5,002 Global Services and Other Expenses, net (16,867) (14,865) Total 57,833 38,289 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months Ended March 31, March 31, (Dollars in thousands) 2008 2007 Cash flows from operating activities: Net income 27,863 15,369 Depreciation and amortization 28,041 24,530 Minority interest 8,939 8,384 Net change in receivables, inventories, and payables (48,144) (59,123) Other, net (2,365) 12,957 Net cash provided by operating activities 14,334 2,117 Cash flows from investing activities: Purchases of property, plant and equipment (35,146) (24,876) Proceeds from sale of property, plant and equipment 3,472 542 Net cash used in investing activities (31,674) (24,334) Cash flows from financing activities: Net borrowings on notes payable and debt instruments 36,886 36,336 Cash dividends (8,667) (7,639) Distribution to minority interest partners (2,415) (2,613) Net cash provided by financing activities 25,804 26,084 Effect of exchange rate changes (4) 1,617 Net increase in cash and cash equivalents 8,460 5,484 Cash and cash equivalents at beginning of year 26,789 29,112 Cash and cash equivalents at end of period 35,249 34,596 CONDENSED CONSOLIDATED BALANCE SHEETS March 31, Dec. 31, (Dollars in thousands) 2008 2007 ASSETS Current assets: Cash and cash equivalents 35,249 26,789 Accounts receivable, net 399,577 318,152 Inventories 327,939 319,524 Other current assets 64,199 55,677 Total current assets 826,964 720,142 Property, plant and equipment, net 608,331 562,818 Other assets 223,457 217,462 Total assets 1,658,752 1,500,422 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Notes payable and bank overdrafts 65,389 59,415 Long-term debt due within one year 240,421 208,819 Accounts payable 175,949 168,015 Other accrued liabilities 162,138 128,358 Total current liabilities 643,897 564,607 Long-term debt 189,875 175,811 Long-term pension liability 61,117 70,777 Deferred income taxes 38,048 40,930 Other liabilities 65,110 62,253 Minority interest in net assets of consolidated companies 69,464 60,544 Stockholders' equity 591,241 525,500 Total liabilities and stockholders' equity 1,658,752 1,500,422 Number of employees at end of period 9,853 9,756 Debt to total capital ratio (1) 43% 43% (1) The debt to total capital ratio is calculated by dividing total interest bearing debt by total capital. Total interest bearing debt is the sum of notes payable and bank overdrafts, long-term debt due within one year, and long-term debt. Total capital is the sum of total interest bearing debt, minority interest in net assets of consolidated companies, and stockholders' equity.

Sauer-Danfoss Inc.

CONTACT: Sauer-Danfoss Inc. - Investor Relations, Kenneth D. McCuskey,
Vice President and Chief Accounting Officer, +1-515-239-6364, or Fax
+1-515-956-5364, kmccuskey@sauer-danfoss.com, or John N. Langrick, Director of
Finance Europe, +49-4321-871-190, Fax +49-4321-871-121,
jlangrick@sauer-danfoss.com

Web site: http://www.sauer-danfoss.com/
http://ir.sauer-danfoss.com/

NeuStar Schedules Conference Call and Webcast to Discuss First Quarter 2008 Results

STERLING, Va., April 28 /PRNewswire-FirstCall/ -- NeuStar today announced that it will report its first quarter 2008 operating and financial results on Wednesday, May 7, 2008 after the closing of regular trading. The news release will be followed by a teleconference and webcast beginning at 5:00 p.m. (Eastern Time).

(Logo: http://www.newscom.com/cgi-bin/prnh/20080310/NEUSTARLOGO )

Those wishing to participate in the teleconference should call (888) 670- 2260 (international callers should dial +1-913-312-1490) a few minutes prior in order to register. A replay of the call will be available through 12:00 midnight on Wednesday, May 14, 2008 (Eastern Time) by dialing (888) 203-1112 (international callers should dial +1-719-457-0820) and entering replay PIN 2435914.

Those wishing to participate in the live or archived webcast via the Internet should go to the Investor Relations tab of the NeuStar website at http://www.neustar.biz/ .

About NeuStar, Inc.

NeuStar is a provider of clearinghouse and directory services to the global communications and Internet industry. Visit NeuStar online at http://www.neustar.biz/.

Photo: http://www.newscom.com/cgi-bin/prnh/20080310/NEUSTARLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com NeuStar

CONTACT: Investors, Brandon Pugh, +1-571-434-5659,
brandon.pugh@neustar.biz; Media, John Schneidawind, +1-571-434-5596,
john.schneidawind@neustar.biz, both of NeuStar

Web site: http://www.neustar.biz/

Clarient Continues to Augment Organization to Support Profitable GrowthCOO Appointed President; CEO Named Vice Chairman of the Board of Directors

ALISO VIEJO, Calif., April 28 /PRNewswire-FirstCall/ -- Clarient, Inc. , a premier technology and services resource for pathologists, oncologists and the pharmaceutical industry, today announced that Michael J. Pellini, M.D. has resigned from his position of Vice President of the Life Sciences Group at Safeguard Scientifics, Inc. to become a full-time employee of Clarient. In addition to his current title of Chief Operating Officer, Pellini has been named President. Pellini reports directly to Chief Executive Officer Ron A. Andrews, Jr., who will assume the title of Vice Chairman of Clarient's Board of Directors in addition to his current position as CEO.

"Clarient is entering its next phase of growth and developing a stable, efficient platform upon which to continue our commercial velocity," said Andrews. "We strive every day to enhance shareholder value and expand our business. Mike will focus on Clarient's day-to-day operations while I'll focus my time on our long-term strategic initiatives. Since last fall when we appointed Mike as COO, our operational efficiency has improved significantly. In a very short period of time, Mike has become an integral part of our outstanding executive team and the overall Clarient culture. I am pleased to have Mike on board as President and COO, and look forward to working with him to take our company through its next stages of growth and milestones."

Pellini has been serving as Clarient's COO since October 2007 and, until now, was also Vice President of the Life Sciences Group at Safeguard Scientifics. Pellini has been serving on the Clarient Board of Directors since June 27, 2007 and will maintain his position on the board in his new role.

Prior to joining Safeguard, Pellini was Chief Operating Officer at Lakewood Pathology Associates, Inc., a Lakewood, NJ-based national anatomical pathology company. From 1999 to 2004, Pellini served as President and CEO of Genomics Collaborative Inc., a Boston, MA-based biotech firm that was acquired by SeraCare Life Sciences, Inc. in 2004. He is also a former Entrepreneur in Residence at BioAdvance, the Biotechnology Greenhouse of Southeastern Pennsylvania, where he was responsible for reviewing and evaluating seed stage investment proposals.

Pellini earned a bachelor's degree from Boston College, an MBA from Drexel University and his MD from Jefferson Medical College of Thomas Jefferson University.

About Clarient

Clarient combines innovative technologies with world class expertise to assess and characterize cancer. Clarient's mission is to provide the services, resources and critical information to improve the quality and reduce the cost of patient care as well as accelerating the drug development process. The Company's principal customers include pathologists, oncologists, hospitals and biopharmaceutical companies.

The rise of individualized medicine as the new direction in oncology has created the need for a centralized resource providing leading diagnostic technologies such as flow cytometry and molecular testing. Clarient is that resource, having created a state-of-the-art commercial cancer laboratory providing the most advanced oncology testing and drug development services available both onsite and over the web. Clarient is a Safeguard Scientifics, Inc. partner company. For more information, visit http://www.clarientinc.com/.

About Safeguard Scientifics

Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. provides growth capital for entrepreneurial and innovative technology and life sciences companies. Safeguard targets technology companies in Software as a Service (SaaS), Technology-Enabled Services and Internet-based Businesses, and life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals with capital requirements between $5 and $50 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. http://www.safeguard.com/

Forward Looking Statements

The statements herein regarding Clarient, Inc. contain forward-looking statements that involve risks and uncertainty. Future events and the Company's actual results could differ materially from the results reflected in these forward-looking statements. Factors that might cause such a difference include, but are not limited to: the Company's ability to continue to develop and expand its diagnostic services business, the Company's ability to expand and maintain a successful sales and marketing organization, the Company's ability to maintain compliance with financial and other covenants under its credit facilities, the effects of a going concern audit opinion on the Company's operations, the Company's ability to successfully complete a joint development agreement with Zeiss for the development of novel diagnostic tests, whether the conditions to payment of all or any portion of the contingent consideration from the Company's sale of its instrument systems business to Zeiss are satisfied, the Company's ability to remediate the material weaknesses in the Company's internal control over financial reporting, the Company's ability to successfully transition its customer billings from a third party billing vendor to an in-house billing system, the continuation of favorable third party payer reimbursement for laboratory tests, the Company's ability to obtain additional financing on acceptable terms or at al , unanticipated expenses or liabilities or other adverse events affecting cash flow, uncertainty of success in identifying and developing new diagnostic tests or novel markers, the Company's ability to fund development of new diagnostic tests and novel markers and the amount of resources the Company determines to apply to novel marker development and commercialization, the Company's ability to obtain additional financing if required on favorable terms or at all, failure to obtain FDA clearance or approval for particular applications, the Company's ability to compete with other technologies and with emerging competitors in novel cancer diagnostics and dependence on third parties for collaboration in developing new tests, and risks detailed from time to time in the Company's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Recent experience with respect to laboratory services, revenues and results of operations may not be indicative of future results for the reasons set forth above. The company does not assume any obligation to update any forward-looking statements or other information contained in this document.

Contact: Matt Clawson Allen & Caron, Inc. (949) 474-4300 matt@allencaron.com

Clarient, Inc.

CONTACT: Matt Clawson of Allen & Caron, Inc., +1-949-474-4300,
matt@allencaron.com, for Clarient, Inc.

Web site: http://www.clarientinc.com/
http://www.safeguard.com/

SoftBrands to Present at AeA Micro Cap Conference May 5

MINNEAPOLIS, April 28 /PRNewswire-FirstCall/ -- SoftBrands, Inc. , a global supplier of enterprise application software, will present at the AeA Micro Cap Financial Conference in Monterey, Calif., on May 5. The AeA Micro Cap Financial Conference showcases public technology companies with up to $200 million market cap or revenues.

Randy Tofteland, SoftBrands president and chief executive officer, will present at the general session and participate in break-out sessions on May 5. The presentations from the conference will be available on SoftBrands' website http:/www.softbrands.com after they are delivered May 5.

About SoftBrands

SoftBrands, Inc. is a leader in providing software solutions for businesses in the manufacturing and hospitality industries worldwide. The company has established a global infrastructure for distribution, development and support of enterprise software, and has approximately 5,000 customers in more than 100 countries actively using its manufacturing and hospitality products. SoftBrands, which has approximately 775 employees, is headquartered in Minneapolis, Minn., with branch offices in Europe, India, Asia, Australia and Africa. Additional information can be found at http://www.softbrands.com/

Contact Information Susan Eich 612-851-6205 susan.eich@softbrands.com

SoftBrands, Inc.

CONTACT: Susan Eich of SoftBrands, Inc., +1-612-851-6205,
susan.eich@softbrands.com

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

EMCORE Corporation to Report Fiscal 2008 Second Quarter and Six-Month Results on Wednesday, May 7, 2008Conference call scheduled for Thursday, May 8, 2008 at 9:00 am ET

ALBUQUERQUE, N.M., April 28 /PRNewswire-FirstCall/ -- EMCORE Corporation , a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and solar power markets, will announce its fiscal 2008 second quarter and six-month results for the period ended March 31, 2008 on Wednesday, May 7, 2008, after market close. A conference call discussing the results will be held on Thursday, May 8, 2008 at 9:00 am ET.

Conference Call Information:

To participate in the conference call, U.S. callers should dial (toll free) 866-710-0179 and international callers should dial 334-323-9871. The access code for the call is 39197. A replay of the call will be available beginning May 8, 2008 at 12:00 p.m. ET until May 15, 2008 at 11:59 p.m. ET. The replay call-in number for U.S. callers is 877-656-8905, for international callers it is 334-323-9859 and the access code is 26373007. The call also will be web cast via the Company's web site at http://www.emcore.com/. Please go to the site beforehand to download any necessary software.

About EMCORE:

EMCORE Corporation is a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and solar power markets. EMCORE's Fiber Optics segment offers optical components, subsystems and systems that enable the transmission of video, voice and data over high-capacity fiber optic cables for high-speed data and telecommunications, cable television (CATV) and fiber-to-the-premises (FTTP) networks. EMCORE's Solar Power segment provides solar products for satellite and terrestrial applications. For satellite applications, EMCORE offers high-efficiency compound semiconductor-based gallium arsenide (GaAs) solar cells, covered interconnect cells and fully integrated solar panels. For terrestrial applications, EMCORE offers concentrating photovoltaic (CPV) systems for utility scale solar applications as well as offering its high-efficiency GaAs solar cells and CPV components for use in solar power concentrator systems. For specific information about our company, our products or the markets we serve, please visit our website at http://www.emcore.com/.

Contact: EMCORE Corporation Adam Gushard -- Interim Chief Financial Officer (505) 332-5000 info@emcore.com TTC Group Victor Allgeier (646) 290-6400 info@ttcominc.com

EMCORE Corporation

CONTACT: Adam Gushard, Interim Chief Financial Officer of EMCORE
Corporation, +1-505-332-5000, info@emcore.com; Victor Allgeier of TTC Group
for EMCORE Corporation, +1-646-290-6400, info@ttcominc.com

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

Actions Semiconductor Reports First Quarter 2008 Results

ZHUHAI, China, April 28 /PRNewswire-FirstCall/ -- Actions Semiconductor Co., Ltd. , one of China's leading fabless semiconductor companies that provides comprehensive mixed-signal system-on-a-chip (SoC) and multimedia digital signal processing (DSP) solutions for portable consumer electronics, today reported financial results for the first quarter ended March 31, 2008.

All financial results are reported on a U.S. GAAP basis.

Revenue for the first quarter of 2008 was $25.2 million, as compared to revenue of $32.3 million for the fourth quarter of 2007, and $30.3 million for the first quarter of 2007.

Net income for the first quarter of 2008 was $10.8 million, or $0.13 per ADS, compared to $19.4 million, or $0.23 per ADS for the fourth quarter of 2007, and compared to $12.7 million, or $0.15 per ADS for the first quarter of 2007. Included in net income for the fourth quarter of 2007 was a $5.9 million reinvestment incentive, or $0.07 per ADS, resulting from a tax refund relating to a program Zhuhai Municipal Tax Bureau formed to encourage local business development of Foreign Invested Enterprises.

Actions Semiconductor reported operating margin of 30.5% and gross margin of 53.1% for the first quarter of 2008. The Company ended the quarter with $122.8 million in cash and cash equivalents together with time deposits. Marketable securities at the end of the quarter was $129.2 million.

"Our first quarter results exceeded our expectations on both a revenue and earnings basis," commented Nan-Horng Yeh, Chief Executive Officer of Actions Semiconductor. "Our strong results were driven by maintaining higher than anticipated ASPs (Average Selling Price) during the quarter, combined with a favorable product mix and continued aggressive cost controls.

"During the first quarter, we made progress on a number of our long-term growth objectives. We continued to develop our international and brand name presence and recently entered into an agreement for a series of collaborative projects with Digital Blue, Disney's consumer electronics design house. Overall demand was steady during the quarter, and we continued to ramp products that support advanced applications. With our expanded product portfolio and best-in-class team of engineers, we believe we have strengthened our competitive position and are encouraged by the longer-term growth opportunities in new and existing markets," concluded Mr. Yeh.

Business Outlook

The following statements are based upon management's current expectations. These statements are forward-looking, and actual results may differ materially. The company undertakes no obligation to update these statements.

For the quarter ended June 30, 2008, Actions Semiconductor estimates revenue in the range of $22 to $25 million, and, fully diluted earnings per ADS of $0.08 to $0.10.

Conference Call Details

Actions Semiconductor's First Quarter teleconference and webcast is scheduled to begin at 5:30 p.m. Eastern Time, on Monday, April 28, 2008. To participate in the live call, analysts and investors should dial 800-510-9661 or 617-614-3452 and enter passcode 28207325 at least ten minutes prior to the call. Actions Semiconductor will also offer a live and archived webcast of the conference call, accessible from the "Investor Relations" section of the company's website at http://www.actions-semi.com/. An audio replay of the call will be available to investors through May 5, 2008, by dialing 888-286-8010 or 617-801-6888 and entering the passcode 40792268.

About Actions Semiconductor

Actions Semiconductor is one of China's leading fabless semiconductor companies that provides mixed-signal and multimedia SoC solutions for portable consumer electronics. Actions Semiconductor products include SoCs, firmware, software, solution development kits, as well as detailed specifications of other required components and the providers of those components. Actions Semiconductor also provides total product and technology solutions that allow customers to quickly introduce new portable consumer electronics to the mass market in a cost effective way. The company is headquartered in Zhuhai, China, with offices in Beijing and Shenzhen. For more information, please visit the Actions Semiconductor website at http://www.actions-semi.com/.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause Actions Semiconductor's actual results to differ materially from our current expectations. Factors that could cause Actions Semiconductor's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand; worldwide economic and political conditions; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our most recently filed Forms F-1, 20-F and 6-Ks. Actions Semiconductor undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.

ACTIONS SEMICONDUCTOR CO., LTD. CONSOLIDATED BALANCE SHEET (in thousands of U.S. dollars) At March 31, At December 31, At March 31, 2008 2007 2007 (unaudited) (unaudited) ASSETS Current assets: Cash and cash equivalents 121,068 72,054 108,836 Time deposits 1,692 2,613 50,672 Restricted cash - 1,782 1,683 Marketable securities 129,243 165,317 50,667 Accounts receivable, net 5,634 6,046 5,841 Notes receivable - 372 870 Inventories 9,873 12,542 11,389 Prepaid expenses and other current assets 2,435 2,479 4,072 Amount due from an affiliate - - 163 Deferred tax assets 573 739 410 Total current assets 270,518 263,944 234,603 Investment in an affiliate - - 1,449 Other investments 7,908 7,760 - Rental deposits 62 79 40 Property, plant and equipment, net 6,737 6,436 5,551 Land use right 1,562 1,509 1,448 Acquired intangible assets, net 5,543 5,849 4,335 Deposit paid for acquisition of property, plant and equipment - 27 120 TOTAL ASSETS 292,330 285,604 247,546 LIABILITIES AND SHAREHOLDER'S EQUITY Current liabilities: Accounts payable 6,927 12,334 15,937 Accrued expenses and other current liabilities 4,438 9,435 3,953 Amounts due to shareholders - - 10 Other liabilities 706 884 751 Loan from minority shareholder 1,500 - - Short-term bank loan - 1,519 1,547 Income tax payable 962 749 3,102 Deferred tax liabilities 84 - - Total current liabilities 14,617 24,921 25,300 Other liabilities 642 686 - Deferred tax liabilities 554 - - Total liabilities 15,813 25,607 25,300 Minority interest 132 204 441 Shareholders' equity: Ordinary shares 1 1 1 Additional paid-in capital 43,158 43,679 50,341 Accumulated other comprehensive income 15,919 9,628 4,466 Retained earnings 217,307 206,485 166,997 Total shareholders' equity 276,385 259,793 221,805 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 292,330 285,604 247,546 ACTIONS SEMICONDUCTOR CO., LTD. CONSOLIDATED INCOME STATEMENT (in thousands of U.S. dollars, except per share amounts) Three months Three months Three months ended ended ended March 31, December 31, March 31, 2008 2007 2007 (unaudited) (unaudited) (unaudited) Revenues 25,193 32,331 30,291 Cost of revenues (11,820) (15,218) (14,338) Gross profit 13,373 17,113 15,953 Other operating income 332 12 519 Operating expenses: Research and development (3,754) (3,443) (2,707) General and administrative (1,848) (2,380) (2,270) Selling and marketing (408) (658) (375) Total operating expenses (6,010) (6,481) (5,352) Income from operations 7,695 10,644 11,120 Other income 1,527 7,172 1,252 Interest income 2,523 1,973 1,411 Interest expense (4) (20) (23) Income before income taxes, equity in net income(loss) of an affiliate and minority interests 11,741 19,769 13,760 Income tax (991) (497) (1,070) Equity in net income(loss) of an affiliate - 76 (20) Minority interests 72 75 45 Net income 10,822 19,423 12,715 Net income per share: Basic and diluted per share: 0.02 0.04 0.02 Basic and diluted (per ADS) 0.13 0.23 0.15 Weighted-average shares used in computation: Basic and diluted 507,720,797 509,793,348 516,000,000 Weighted-average ADS used in computation : Basic and diluted 84,620,133 84,965,558 86,000,000 ACTIONS SEMICONDUCTOR CO., LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands of U.S. dollars) Three months Three months Three months ended ended ended March 31, December 31, March 31, 2008 2007 2007 (unaudited) (unaudited) (unaudited) Operating activities: Net income 10,822 19,423 12,715 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of property, plant and equipment 475 427 348 Amortization of acquired intangible assets 804 728 473 Loss(gain) on disposal of property, plant and equipment - 3 (23) Gain on disposal of intangible assets - - (18) Minority interests (72) (136) (45) Deferred taxes 804 (97) 252 Equity in net loss of an affiliate - - 20 Fair value change in marketable securities - - (247) Changes in operating assets and liabilities: Accounts receivable 412 726 18 Notes receivable 387 628 1,291 Inventories 3,142 (1,076) (5,065) Prepaid expenses and other current assets 83 828 2,351 Amount due from an affiliate 52 19 (30) Accounts payable (5,899) 4,799 38 Accrued expenses and other current liabilities (6,598) 767 (6,102) Income tax payable 189 159 820 Rental deposits 20 (33) 12 Net cash provided by operating activities 4,621 27,165 6,808 Investing activities: Increase in other investment (80) (2,251) - Proceeds from disposal of property, plant and equipment - - 31 Proceeds from disposal of intangible assets - - 64 Decrease(increase) in marketable securities 42,980 (66,166) (29,774) Purchase of property, plant and equipment (482) (230) (564) Purchase of intangible assets (295) (242) (1,239) Decrease(increase) in restricted cash 1,854 1,371 (1,683) Decrease(increase) in time deposits 1,024 12,109 (4,780) Cash Provided by investing activities 45,001 (55,409) (37,945) Financing activities: Proceeds from short-term bank loans - - 1,547 Repayment of short-term bank loans (1,580) - - Proceeds from loan from minority shareholders 1,500 - - Advance subsidy from local authorities of Zhuhai, the PRC (285) 638 51 Repurchase of ordinary shares (521) (2,854) - Cash (used in) provided by financing activities (886) (2,216) 1,598 Effect of exchange rate changes on cash 278 1,417 597 Net increase(decrease) in cash and cash equivalents 49,014 (29,043) (28,942) Cash and cash equivalents at the beginning of the period 72,054 101,097 137,778 Cash and cash equivalents at the end of the period 121,068 72,054 108,836 For More Information Investor Contacts: Lisa Laukkanen Ernie Huang The Blueshirt Group Investor Relations at Actions Semiconductor lisa@blueshirtgroup.com ernie@actions-semi.com 415-217-4967 +86 756 3392353 ext 1095

Actions Semiconductor Co., Ltd.

CONTACT: Lisa Laukkanen of The Blueshirt Group, +1-415-217-4967,
lisa@blueshirtgroup.com, for Actions Semiconductor Co., Ltd. Investor
Relations; or Ernie Huang of Actions Semiconductor Co., Ltd. Investor
Relations, +86 756 3392353, ext 1095, ernie@actions-semi.com

Web site: http://www.actions-semi.com/

GFI Group Inc. Announces Record First Quarter 2008 Results; Declares Quarterly Cash Dividend- GAAP Revenues: Up 31% to $314.6 Million- GAAP Net Income: Up 46% to $36.0 Million or $0.30 per Diluted Share- Non-GAAP Net Income: Up 51% to $38.1 Million or $0.32 per Diluted Share- Board of Directors Declares Quarterly Cash Dividend of $0.03 per Share

NEW YORK, April 28 /PRNewswire-FirstCall/ -- GFI Group Inc. , an inter-dealer brokerage, market data, trading platform and analytical software provider for global cash and derivative markets, today announced financial results for the first quarter ended March 31, 2008.

Highlights * Total revenues for the first quarter of 2008 increased 31% to a record of $314.6 million. In the first quarter of 2007, total revenues were $240.3 million. * Brokerage revenues for the first quarter of 2008 rose 28% over the first quarter of 2007, with strong growth in all product categories -- credit, financial, equity and commodity, which increased 31%, 16%, 40% and 22%, respectively. Brokerage revenues year over year for the first quarter increased in all geographic regions, with growth particularly strong in Europe and Asia-Pacific, which rose 39% and 60%, respectively, with an increase in North America of 11%. * There were 1,048 brokerage personnel at the end of the first quarter of 2008, representing a net increase of 58 brokerage personnel from the first quarter of 2007. * Compensation and employee benefits expense was 61.4% of total revenues in the first quarter of 2008 compared with 63.0% in the first quarter of 2007. * Non-compensation expense as a percentage of revenues was 20.3% for the first quarter of 2008 compared with 19.8% in first quarter of 2007. On a non-GAAP basis, non-compensation expense as a percentage of revenues was 19.2% in the first quarter of 2008 compared with 19.4% in the first quarter of 2007. * Net income for the first quarter of 2008 increased 46% to $36.0 million, or $0.30 per diluted share, compared with $24.7 million, or $0.21 per diluted share, in the first quarter of 2007. On a non-GAAP basis, net income for the first quarter of 2008 rose 51% to $38.1 million, or $0.32 per diluted share, compared with $25.3 million, or $0.21 per diluted share, for the first quarter of 2007. Per share amounts have been adjusted to reflect the Company's 4-for-1 stock split effective March 31, 2008.

Michael Gooch, Chairman and Chief Executive Officer of GFI, commented: "The first quarter was a record for GFI. GFI performed well in all product areas. Equity markets remained active in the first quarter of 2008, leading to a 40% year-over-year increase in our revenues from equity products following their record growth in the fourth quarter. This was accompanied by a 31% increase in credit product revenues over the first quarter of 2007, which reached a record $111 million, and demonstrated a 52% increase sequentially. Our European desks made a major contribution to the increases in both product categories, supported by growth from other regions.

"Commodity product revenues increased 22% over the first quarter of 2007. We saw continued strong growth in dry freight derivatives in Europe and Asia-Pacific and metals in Europe. This was accompanied by increases in electric power and natural gas products in North America.

"Financial product revenues rose 16% from the first quarter of 2007, with the Asia-Pacific region leading the growth due to increases in emerging market currency and interest rate derivatives. Recently we have expanded our presence in the Middle East with the addition of our new offices in Dubai and Tel Aviv.

"Our electronic trading initiatives continue to be a focus of management, as we continue to add functionality and scale to our ForexMatch(TM), CreditMatch(R) and EnergyMatch(R) platforms. Our trading platforms continue to gain traction with increased electronic trading activity year over year. We remain committed to fostering customer relationships through our hybrid strategy of 'melding man and machine,' as well as introducing electronic trading, STP and analytics wherever possible with a goal of increasing market share and broker productivity.

"Looking forward, we expect our growth to continue in the second quarter of 2008, with brokerage revenues expected to increase between 18% and 23% compared with the second quarter of 2007. Our forecast takes into account the competitive forces we are confronting for our brokerage personnel amidst the departure of a number of credit product brokers from our New York office."

Mr. Gooch concluded: "Ultimately, we believe that our economic and strategic model is the only viable course for success in our markets over the longer term. We will continue to execute our plan to provide our brokerage personnel with sophisticated technology to further their success and that of our customers. We also will remain fully focused on building shareholder value and are pleased to declare a cash dividend of 3 cents a share for the quarter."

Revenues

For the first quarter of 2008, total revenues increased 31% to $314.6 million compared with $240.3 million in the first quarter of 2007.

Brokerage revenues rose 28% to $298.2 million in the first quarter of 2007 and included a 31% increase in credit products, a 16% increase in financial products, a 40% increase in equity products and a 22% increase in commodity products compared, in each case, with the first quarter of 2007.

Revenues from analytics, trading platform and data products for the first quarter of 2008 more than doubled to $11.3 million from $5.3 million in the same period of 2007 and included two months of revenues from Trayport, acquired by GFI on January 31, 2008, totaling $5.5 million.

By geographic region, first quarter 2008 brokerage revenue growth increased 11% in North America, 39% in Europe and 60% in Asia-Pacific over the first quarter of 2007.

Expenses

For the first quarter of 2008, compensation and employee benefit expense was $193.2 million, or 61.4% of total revenues, compared with $151.5 million, or 63.0% of total revenues in the first quarter of 2007 and $151.0 million, or 61.1% of total revenues, in the fourth quarter of 2007.

Non-compensation expense for the first quarter of 2008 was $63.8 million or 20.3% of total revenues. This compares with $47.7 million, or 19.8% of total revenues, in the first quarter of 2007 and $61.0 million or 24.7% of total revenues in the fourth quarter of 2007. On a non-GAAP basis, non-compensation expense for the first quarter of 2008 was 19.2% of total revenues compared with 19.4% in the first quarter of 2007 and 23.5% in the fourth quarter of 2007.

Earnings

On a GAAP basis, net income for the first quarter of 2008 increased 46% to $36.0 million, or $0.30 per diluted share, compared with $24.7 million or $0.21 per diluted share in the first quarter of 2007. On a non-GAAP basis, net income for the first quarter of 2008 rose 51% to $38.1 million, or $0.32 per diluted share, compared with $25.3 million or $0.21 for the first quarter of 2007. Per share amounts have been adjusted to reflect the Company's 4-for-1 stock split effective March 31, 2008.

Non-GAAP Financial Measures

To supplement GFI's unaudited financial statements presented in accordance with GAAP, the Company uses certain non-GAAP measures of financial performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. The non-GAAP financial measures used by GFI include non-GAAP revenues, non-GAAP net income and non-GAAP diluted earnings per share. These non-GAAP financial measures currently exclude amortization of acquired intangibles and certain other items that management views as non-operating or non-recurring from the Company's statement of income as detailed below.

In addition, GFI may consider whether other significant non-operating or non-recurring items that arise in the future should also be excluded in calculating the non-GAAP financial measures it uses. The non-GAAP financial measures also take into account income tax adjustments with respect to the excluded items.

GFI believes that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding the Company's performance by excluding certain items that may not be indicative of the Company's core business, operating results or future outlook. GFI's management uses, and believes that investors benefit from referring to these non-GAAP financial measures in assessing the Company's operating results, as well as when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate comparisons of the Company's performance to prior periods.

In addition to the reasons stated above, which are generally applicable to each of the items GFI excludes from its non-GAAP financial measures, the Company believes it is appropriate to exclude amortization of acquired intangibles because when analyzing the operating performance of an acquired business, GFI's management focuses on the total return provided by the investment (i.e., operating profit generated from the acquired entity as compared to the purchase price paid) without taking into consideration any charges for allocations made for accounting purposes. Further, because the purchase price for an acquisition necessarily reflects the accounting value assigned to intangible assets, when analyzing the operating performance of an acquisition in subsequent periods, the Company's management excludes the GAAP impact of acquired intangible assets on its financial results. GFI's presentation of non-GAAP financial measures does include interest charges related to financing of acquisitions when analyzing the operating performance of an acquisition in subsequent periods. GFI believes that such an approach is useful in understanding the long-term return provided by an acquisition and that investors benefit from a supplemental non-GAAP financial measure that excludes the accounting expense associated with acquired intangible assets.

Set forth below is specific detail regarding items excluded in our non-GAAP financial measures. A reconciliation of the non-GAAP to GAAP figures follows this press release.

In the first quarter of 2008, there was no difference between GAAP and non-GAAP revenues. The difference between GAAP and non-GAAP net income was $2.1 million and reflected for non-GAAP purposes:

* The exclusion of $1.2 million of amortization on all acquired intangible assets. * The exclusion of items related to the planned relocation of the Company's New York offices to larger premises scheduled for the second and third quarter of 2008, including: -- $0.8 million of duplicate rent expense; -- $1.4 million of accelerated depreciation expense related to assets to be abandoned. * The effect of adjusting for these items would increase the Company's income tax expense by $1.3 million.

In the first quarter of 2007, there was no difference between GAAP and non-GAAP revenues. The difference between GAAP and non-GAAP net income was $0.6 million and reflected for non-GAAP purposes:

* The exclusion of $1.0 million of amortization on all acquired intangible assets. * The effect of adjusting for this item would increase the Company's income tax expense by $0.4 million. Dividend Declaration

The Board of Directors of GFI Group has declared a quarterly cash dividend of $0.03 per share payable on May 15, 2008 to shareholders of record on May 1, 2008.

Conference Call

GFI has scheduled an investor conference call at 8:30 a.m. (Eastern Time) on Tuesday, April 29, 2008 to review its first quarter 2008 financial results and business outlook. Those wishing to listen to the live conference call via telephone should dial 866.356.4281 in North America, passcode 14180147 and +1 617.597.5395 in Europe, same passcode. A live audio web cast of the conference call will be available on the Investor Relations section of GFI's Web site. For web cast registration information, please visit the Investor Relations page at http://www.gfigroup.com/. Following the conference call, an archived recording will be available at the same site.

Supplementary Financial Information

GFI Group has posted details of its historical monthly brokerage revenues on the Investor Relations page of its web site under the heading Supplementary Financial Information. The Company currently plans to post this information quarterly in conjunction with its announcement of earnings, but does not undertake a responsibility to continue to provide or update such information.

About GFI Group Inc.

GFI Group Inc. (http://www.gfigroup.com/) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.

Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Dubai, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI provides services and products to over 2,200 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI(TM), GFInet(R), CreditMatch(R), GFI ForexMatch(TM), EnergyMatch(R), FENICS(R), Starsupply(R), Amerex(R), and Trayport(R).

Forward-looking statements

Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "might," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: acquisitions by us of businesses or technologies; economic, political and market factors affecting trading volumes, securities prices or demand for the Company's brokerage services; competition from current and new competitors; the Company's ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company's ability to identify and develop new products and markets; changes in laws and regulations governing the Company's business and operations or permissible activities; the Company's ability to manage its international operations; financial difficulties experienced by the Company's customers or key participants in the markets in which the Company focuses its brokerage services; the Company's ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company's financial and other results is included in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

GFI Group Inc. and Subsidiaries Consolidated Statements of Income (unaudited) (In thousands except share and per share data) Three Months Ended March 31, 2008 2007 REVENUES: Brokerage revenues: Agency commissions $239,089 $184,525 Principal transactions 59,094 48,377 Total brokerage revenues 298,183 232,902 Analytics and market data 11,259 5,326 Contract revenue 13 - Interest income 2,683 2,102 Other income (loss) 2,462 (13) Total revenues 314,600 240,317 EXPENSES: Compensation and employee benefits 193,198 151,508 Communications and market data 11,181 10,456 Travel and promotion 11,723 8,836 Rent and occupancy 6,614 5,561 Depreciation and amortization 7,922 5,227 Professional fees 5,012 3,569 Clearing fees 11,202 7,529 Interest 3,085 1,849 Other expenses 7,086 4,649 Contract costs 6 - Total expenses 257,029 199,184 INCOME BEFORE PROVISION FOR INCOME TAXES 57,571 41,133 PROVISION FOR INCOME TAX 21,589 16,453 NET INCOME $35,982 $24,680 Basic earnings per share $0.31 $0.21 Diluted earnings per share $0.30 $0.21 Weighted average shares outstanding - basic 117,736,242 115,176,794 Weighted average shares outstanding - diluted 119,975,020 118,111,251 GFI Group Inc. and Subsidiaries Consolidated Statements of Income As a Percentage of Total Revenues Three Months Ended March 31, 2008 2007 REVENUES: Brokerage revenues: Agency commissions 76.0% 76.8% Principal transactions 18.8% 20.1% Total brokerage revenues 94.8% 96.9% Analytics and market data 3.6% 2.2% Contract revenue 0.0% 0.0% Interest income 0.9% 0.9% Other income 0.8% 0.0% Total revenues 100.0% 100.0% EXPENSES: Compensation and employee benefits 61.4% 63.0% Communications and market data 3.6% 4.4% Travel and promotion 3.7% 3.7% Rent and occupancy 2.1% 2.3% Depreciation and amortization 2.5% 2.2% Professional fees 1.6% 1.5% Clearing fees 3.6% 3.1% Interest 1.0% 0.8% Other expenses 2.3% 1.9% Contract costs 0.0% 0.0% Lease termination costs to affiliate 0.0% 0.0% Total expenses 81.7% 82.9% INCOME BEFORE PROVISION FOR INCOME TAXES 18.3% 17.1% PROVISION FOR INCOME TAX 6.9% 6.8% NET INCOME 11.4% 10.3% GFI Group Inc. and Subsidiaries Selected Financial Data (unaudited) (Dollars in thousands) Three Months Ended March 31, 2008 2007 Brokerage Revenues by Product Categories: Credit $ 110,695 $ 84,811 Financial 52,020 45,001 Equity 78,716 56,383 Commodity 56,752 46,707 Total brokerage revenues $ 298,183 $ 232,902 Brokerage Revenues by Geographic Region: North America $ 119,456 $ 107,199 Europe 149,551 107,497 Asia-Pacific 29,176 18,206 Total brokerage revenues $ 298,183 $ 232,902 March 31, December 31, 2008 2007 Consolidated Statement of Financial Condition Data: Cash and cash equivalents $ 268,160 $ 240,393 Total assets (1) $1,237,524 975,814 Total debt, including current portion 246,498 55,291 Stockholders' equity 467,560 452,193 Selected Statistical Data: Brokerage personnel headcount (2) 1,048 1,037 Employees 1,734 1,599 Broker productivity for the period (3) $ 283 $ 226 (1) Total assets include receivables from brokers, dealers and clearing organizations of $342.2 million and $317.8 million at March 31, 2008 and December 31, 2007, respectively. These receivables primarily represent securities transactions entered into in connection with our matched principal business which have not settled as of their stated settlement dates. These receivables are substantially offset by corresponding payables to brokers, dealers and clearing organizations for these unsettled transactions. (2) Brokerage personnel headcount includes brokers, trainees and clerks. (3) Broker productivity is calculated as brokerage revenues divided by average monthly brokerage personnel headcount for the quarter. GFI Group Inc. and Subsidiaries Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) (In thousands except per share data) Three Months Ended March 31, 2008 2007 Total Revenues $314,600 $240,317 GAAP expenses 257,029 199,184 Non-operating adjustments: Amortization of intangibles (1,164) (1,024) Duplicate rent (849) - Accelerated depreciation (1,365) - Total (a) (3,378) (1,024) Non-GAAP operating expenses 253,651 198,160 GAAP income before income tax provision 57,571 41,133 Sum of reconciling items = (a) 3,378 1,024 Non-GAAP income before income tax provision 60,949 42,157 GAAP income tax provision 21,589 16,453 Income tax benefit on non-operating loss (b) 1,267 410 Non-GAAP income tax provision 22,856 16,863 GAAP net income 35,982 24,680 Sum of reconciling items = (a) - (b) 2,111 614 Non-GAAP net income $ 38,093 $ 25,294 GAAP basic net income per share $ 0.31 $ 0.21 Basic non-operating income per share $ 0.01 $ 0.01 Non-GAAP basic net income per share $ 0.32 $ 0.22 GAAP diluted net income per share $ 0.30 $ 0.21 Diluted non-operating income per share $ 0.02 $ 0.00 Non-GAAP diluted net income per share $ 0.32 $ 0.21

GFI Group Inc.

CONTACT: Investors, Christopher Giancarlo, Executive Vice President,
Corporate Development, +1-212-968-2992, investorinfo@gfigroup.com, or Chris
Ann Casaburri, Investor Relations Manager, +1-212-968-4167,
chris.casaburri@gfigroup.com, both of GFI Group Inc.; or June Filingeri of
Comm-Partners LLC, +1-203-972-0186, junefil@optonline.net, for GFI Group Inc;
or Media, Alan Bright, Public Relations Manager of GFI Group Inc.,
+011-44-20-7877-8049, alan.bright@gfigroup.co.uk

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

Trident Microsystems Reports Third Quarter of Fiscal Year 2008 Results

SANTA CLARA, Calif., April 28 /PRNewswire-FirstCall/ -- Trident Microsystems, Inc. , a leader in high-performance semiconductor system solutions for the multimedia and digital television markets, today announced results for the third fiscal quarter of 2008, ended March 31, 2008. For the third quarter of fiscal 2008, the company reported net revenues of $55.3 million, representing a sequential decrease of 26 percent compared to net revenues of $75.0 million in the quarter ended December 31, 2007 and a 9% year-over-year decrease from the $60.6 million reported in the quarter ended March 31, 2007.

For the third quarter of fiscal 2008, a net loss of $0.2 million was recorded on a generally accepted accounting principles ("GAAP") basis, or $0.00 per share on a diluted basis, which included $5.3 million of GAAP adjustments driven primarily by stock-based compensation expense. This compares to net income of $7.2 million in the quarter ended December 31, 2007, on a GAAP basis, or $0.12 per share on a diluted basis, which included $12.2 million of GAAP adjustments.

Non-GAAP net income for the third quarter of fiscal 2008 was $5.1 million or $0.08 per share on a diluted basis. This compares to non-GAAP net income of $19.4 million or $0.30 per share on a diluted basis, in the second quarter of fiscal 2008 and to $13.9 million or $0.22 per share in the third quarter of fiscal 2007. A detailed reconciliation between net income (loss) on a GAAP basis and non-GAAP net income is provided in a table following the non-GAAP Condensed Consolidated Statements of Operations.

"Our third quarter results reflect the challenges we face in an increasingly competitive market environment as we continue to evolve our product portfolio to include SoC solutions," said Sylvia D. Summers, Trident's Chief Executive Officer and President.

"We are committed to transforming Trident products to recapture our customer base and to position the company for strategic growth in calendar 2009. By focusing on improved execution across the organization, we will leverage our substantial engineering talent and expertise to extend our product roadmap and to develop and deliver industry-leading SoC solutions. In parallel, we will continue our efforts to align our sales and marketing team to be customer facing," added Summers.

Current Outlook

Trident's outlook for the fourth quarter of fiscal 2008, described below, is based on current expectations and is subject to various factors, including those set forth in the Forward-Looking Information statement below. Actual results may differ materially.

-- Trident expects net revenues to be in the range of approximately $38-41 million. -- Non-GAAP gross margins are projected to decrease to the 45-47% range. -- Non-GAAP operating expenses are projected to be approximately $12-13 million for R&D expenses, driven primarily by hiring of additional engineers in Trident's China development centers, and approximately $6-7 million for SG&A expenses. -- Non-GAAP Operating Income is projected to be near break-even. -- Provision for income taxes is projected to be a benefit of approximately $2 million. Use of Non-GAAP Financial Information

To supplement the consolidated financial results prepared under GAAP, Trident uses a non-GAAP conforming, or non-GAAP, measure of net income that is GAAP net income adjusted to exclude certain costs, expenses and gains. Non-GAAP net income gives an indication of Trident's baseline performance before gains, losses or other charges that are considered by management to be outside the company's core operating results. In addition, non-GAAP net income is among the primary indicators management uses as a basis for planning and forecasting future periods. These measures are not in accordance with, or an alternative for, GAAP and may be materially different from non-GAAP measures used by other companies. Trident computes non-GAAP net income by adjusting GAAP net income for compensation expense, expenses related to the stock option investigation and related matters, expenses related to a software license fees adjustment, and those related to the acquisition of Trident's minority interest held in its Taiwanese subsidiary ("TTI"), including amortization of intangible assets, capital gains and dividend income. A detailed reconciliation between net income on a GAAP basis and non-GAAP net income is provided in a table following non-GAAP Consolidated Statements of Operations.

Investor Conference Call

Trident will host a conference call today, April 28, 2008, at 2:00 p.m. PT/ 5:00 p.m. ET to discuss these quarterly results. Shareholders may participate in the call by calling 888-680-0894 or 617-213-4860 and entering passcode 62591323. This call is being webcasted by Thomson/CCBN and can be accessed at Trident's web site at: http://www.tridentmicro.com/. The webcast is also being distributed through the Thomsom StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at http://www.fulldisclosure.com/, Thomson/CCBN's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson's password-protected event management site, StreetEvents (http://www.streetevents.com/). A replay of the conference call will be available from 5:00 p.m. PT April 30, 2008 until midnight Pacific Time, on May 12, 2008 and can be accessed by calling 888-286-8010 (domestic) or 617-801-6888 (international) using access code 87934152.

Forward-Looking Information

This press release contains forward-looking statements, including statements regarding financial expectations for the fourth quarter of fiscal year 2008, the status of the market, Trident's market share, Trident's ability to develop and deliver SoC solutions, Trident's ability to leverage its technology leadership to take advantage of the market changes and achieve its aggressive plan for strategic growth in 2009, challenges and competition that Trident faces in its markets, and Trident's expectations regarding the market for its products and product introductions. The forward-looking statements above are subject to certain risks and uncertainties, and actual results could vary materially depending on a number of factors. These risks include, in particular, the timing of product introductions, the failure to obtain design wins among major OEMs for Trident's products, and competitive pressures, including pricing and competitors' new product introductions. Additional factors that may affect Trident's business are described in detail in Trident's filings with the Securities and Exchange Commission available at http://www.sec.gov/.

About Trident Microsystems, Inc.

Trident Microsystems, Inc., with headquarters in Santa Clara, California, designs, develops and markets digital media for the masses in the form of multimedia integrated circuits (ICs) for PCs and digital processing ICs for TVs and TV monitors. Trident's products are sold to a network of OEMs, original design manufacturers and system integrators worldwide. For further information about Trident and its products, please consult the Company's web site: http://www.tridentmicro.com/.

NOTE: Trident is a registered trademark of Trident Microsystems, Inc., HiDTV(TM), DPTV(TM), SVP(TM) WX, SVP(TM) UX, SVP(TM) PXP and SVP(TM) CX are trademarks of Trident Microsystems, Inc. All other company and product names are trademarks and/or registered trademarks of their respective owners. Features, pricing, availability and specifications are subject to change without notice.

Trident Microsystems, Inc. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Nine Months Ended March December March March March (In thousands, except 31, 31, 31, 31, 31, per share data) 2008 2007 2007 2008 2007 Net revenues $55,284 $74,984 $60,579 $218,442 $200,202 Cost of revenues 29,105 38,602 30,993 112,742 100,671 Gross profit 26,179 36,382 29,586 105,700 99,531 Gross margin % 47.4% 48.5% 48.8% 48.4% 49.7% Research and development expenses 15,274 12,633 11,283 41,819 31,659 % of net revenues 27.6% 16.8% 18.6% 19.1% 15.8% Selling, general and administrative expenses 7,120 13,970 10,866 38,391 36,389 % of net revenues 12.9% 18.6% 17.9% 17.6% 18.2% Income from operations 3,785 9,779 7,437 25,490 31,483 % of net revenues 6.8% 13.0% 12.3% 11.7% 15.7% Interest and other income (expense), net (1) (796) 2,387 1,659 5,283 5,252 Income before income taxes 2,989 12,166 9,096 30,773 36,735 % of net revenue 5.4% 16.2% 15.0% 14.1% 18.3% Provision for income taxes (2) 3,216 4,916 3,481 13,691 13,188 % of net revenues 5.8% 6.6% 5.7% 6.3% 6.6% Income (loss) before cumulative effect of change in accounting principle (227) 7,250 5,615 17,082 23,547 % of net revenues (0.4)% 9.7% 9.3% 7.8% 11.8% Cumulative effect of change in accounting principle - - - - (190) % of net revenues 0.0% 0.0% 0.0% 0.0% (0.1)% Net income (loss) $(227) $7,250 $5,615 $17,082 $23,357 % of net revenues (0.4)% 9.7% 9.3% 7.8% 11.7% Basic net income (loss) per share Prior to cumulative effect of change in accounting principle $(0.00) $0.12 $0.10 $0.29 $0.41 Cumulative effect of change in accounting principle - - - - - Basic net income (loss) per share $(0.00) $0.12 $0.10 $0.29 $0.41 Common shares used in computing basic per share amounts 59,369 59,269 57,748 59,025 57,599 Diluted net income (loss) per share Prior to cumulative effect of change in accounting principle $(0.00) $0.12 $0.09 $0.27 $0.37 Cumulative effect of change in accounting principle - - - - - Diluted net income (loss) per share $(0.00) $0.12 $0.09 $0.27 $0.37 Common and common equivalent shares used in computing diluted per share amounts under GAAP basis 59,369 62,747 63,440 62,719 63,346 (1) Amounts in the three and nine months ended March 31, 2008 include a $2.7 million foreign currency remeasurment loss related to income taxes payable in foreign jurisdictions, which resulted from the relative weakness of the U.S. dollar. (2) Amounts for each quarter and nine months ended, included the amortization of foreign taxes associated with intercompany profit on assets remaining within Trident's group. Trident Microsystems, Inc. Non-GAAP Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Nine Months Ended March December March March March (In thousands, except 31, 31, 31, 31, 31, per share data) 2008 2007 2007 2008 2007 Net revenues $55,284 $74,984 $60,579 $218,442 $200,202 Cost of revenues 28,014 37,067 29,378 108,479 96,048 Gross profit 27,270 37,917 31,201 109,963 104,154 Gross margin % 49.3% 50.6% 51.5% 50.3% 52.0% Research and development expenses 11,278 9,036 9,001 30,172 24,886 % of net revenues 20.4% 12.1% 14.9% 13.8% 12.4% Selling, general and administrative expenses 6,690 6,144 6,266 19,969 19,071 % of net revenues 12.1% 8.2% 10.3% 9.1% 9.5% Income from operations 9,302 22,737 15,934 59,822 60,197 % of net revenues 16.8% 30.3% 26.3% 27.4% 30.1% Interest and other income (expense), net (1) (1,000) 1,628 1,443 2,537 5,036 Income before income taxes 8,302 24,365 17,377 62,359 65,233 % of net revenues 15.0% 32.5% 28.7% 28.5% 32.6% Provision for income taxes (2) 3,216 4,916 3,481 13,691 13,188 % of net revenues 5.8% 6.6% 5.7% 6.3% 6.6% Net income 5,086 19,449 13,896 48,668 52,045 % of net revenues 9.2% 25.9% 22.9% 22.3% 26.0% Basic net income per share $0.09 $0.33 $0.24 $0.82 $0.90 Common shares used in computing basic per share amounts 59,369 59,269 57,748 59,025 57,599 Diluted net income per share $0.08 $0.30 $0.22 $0.76 $0.81 Common and common equivalent shares used in computing diluted per share amounts under non-GAAP basis (3) 63,067 63,988 64,431 63,901 64,534 (1) Amounts in the three and nine months ended March 31, 2008 include a $2.7 million foreign currency remeasurment loss related to income taxes payable in foreign jurisdictions, which resulted from the relative weakness of the U.S. dollar. (2) Amounts for each quarter and nine months ended, included the amortization of foreign taxes associated with intercompany profit on assets remaining within Trident's group. (3) Common and common equivalent shares used to calculate non-GAAP diluted net income per share excluded all the unamortized stock compensation of stock options and restricted shares when determining whether the awards are anti-dilutive. We also excluded unamortized stock compensation from the assumed proceeds under the treasury stock method. Non-GAAP results in the prior periods have been adjusted to reflect such exclusion. Trident Microsystems, Inc. A reconciliation between net income (loss) on a GAAP basis and a non-GAAP basis is as follows: Three Months Ended Nine Months Ended (In thousands, except March December March March March per share data, 31, 31, 31, 31, 31, unaudited) 2008 2007 2007 2008 2007 GAAP net income (loss) $(227) $7,250 $5,615 $17,082 $23,357 Amortization of intangibles Cost of revenues 1,040 1,485 1,484 4,011 4,256 Selling, general and administrative expenses 108 167 167 442 435 Total amortization of intangibles (1) 1,148 1,652 1,651 4,453 4,691 Stock-based compensation expense Cost of revenues 51 50 131 252 367 Research and development 2,519 3,597 2,282 10,170 6,773 Selling, general and administrative expenses 2,822 4,756 1,625 13,816 4,126 Total stock-based compensation expense (2) 5,392 8,403 4,038 24,238 11,266 Software license fees (3) 1,477 - - 1,477 - Other income, net (4) (204) (759) (216) (2,746) (216) Stock options related professional fees (5) (2,500) 2,903 2,808 4,164 12,757 Cumulative effect of change in accounting principle (6) - - - - 190 Non-GAAP net income $5,086 $19,449 $13,896 $48,668 $52,045 Basic net income per share $0.09 $0.33 $0.24 $0.82 $0.90 Common shares used in computing basic per share amounts 59,369 59,269 57,748 59,025 57,599 Diluted net income per share $0.08 $0.30 $0.22 $0.76 $0.81 Common and common equivalent shares used in computing diluted per share amounts under non-GAAP basis 63,067 63,988 64,431 63,901 64,534 (1) Amortization of intangible assets represents the amortization of identifiable intangible assets, acquired from the purchase of the minority interests of the Company's TTI subsidiary during fiscal year ended June 30, 2005. Management deemed that these acquisition related charges are not related to Trident's core operating performance and it is appropriate to exclude those charges from Trident's non-GAAP financial measures, as it enhances the ability of investors to compare Trident's period-over-period operating results. (2) Stock-based compensation expense relates primarily to the equity awards such as stock options and restricted stock. Stock-based compensation is a non-cash expense that varies in amount from period to period and is dependent on market forces that are often beyond Trident's control. Hence, management excludes this item from the non-GAAP financial measures, as it enhances the ability of investors to compare Trident's period-over-period operating results. (3) Software license fees represent an adjustment for prior software usage. (4) The capital gains are excluded from the non-GAAP net income (loss) calculation. Management believes that such gains/losses on the sale of Trident's investments are not related to the ongoing business and operating performance of Trident. As such, management believes that it is appropriate to exclude investment-related gains/losses from Trident's non-GAAP financial measures. Management deemed that it can enhance the ability of investors to compare Trident's period-over-period operating results. (5) Stock options related professional fees are excluded from the non-GAAP net income (loss) calculation. Management believes that these professional fees are not related to the ongoing business and operating performance of Trident. Amounts in the three and nine months ended March 31, 2008 include insurance reimbursements received for the Directors' and Officers' insurance partially offset by the stock options related professional fees incurred. (6) The adoption of EITF 06-2, Accounting for Sabbatical Leave and Other Similar Benefits Pursuant to FASB Statement No. 43, Accounting for Compensated Absences, resulted in a cumulative effect from an accounting change of $0.2 million on sabbatical expenses for which expenses had already been recorded. Management deemed that those charges from the initial adoption of EITF 06-2 are not related to the ongoing business and operating performance of Trident. Trident Microsystems, Inc. Condensed Consolidated Balance Sheets (Unaudited) March 31, December 31, March 31, (In thousands) 2008 2007 2007 ASSETS Current assets Cash and cash equivalents $200,316 $185,512 $134,366 Investments 36,117 36,950 49,365 Accounts receivable, net 15,144 15,747 14,685 Inventories 11,300 12,092 14,891 Prepaid expenses and other current assets 16,505 17,677 13,009 Total current assets 279,382 267,978 226,316 Property and equipment, net 23,086 23,143 17,927 Intangible assets, net 9,671 9,540 14,499 Goodwill 1,372 - - Other assets 9,000 8,357 15,351 Total assets $322,511 $309,018 $274,093 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable (1) $14,531 $13,525 $21,516 Accrued expenses (1) 25,742 21,787 25,532 Income taxes payable 21,633 19,618 38,457 Total current liabilities 61,906 54,930 85,505 Long-term income taxes payable (2) 23,602 21,937 - Deferred income tax liabilities 247 83 1,425 Total liabilities 85,755 76,950 86,930 Stockholders' equity Capital stock 203,290 197,907 173,276 Retained earnings 35,880 36,107 12,037 Accumulated other comprehensive income (loss) (2,414) (1,946) 1,850 Total stockholders' equity 236,756 232,068 187,163 Total liabilities and stockholders' equity $322,511 $309,018 $274,093 (1) Certain Balance Sheet items have been reclassified to conform to the current year's format. These classifications had no impact on previously reported net income. (2) On July 1, 2007, the Company adopted FASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes" ("FIN 48"). Implementation of FIN 48 resulted in the reclassification of $21.4 million to "Long-term income taxes payable."

Trident Microsystems, Inc.

CONTACT: Suzanne Craig of The Blueshirt Group, +1-415-217-7722,
Suzanne@blueshirtgroup.com, for Trident Microsystems

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

Atheros Enhances GPS User Experience with Advanced Navigation and Low Power in Handsets, PNDs and PMPsAR1511 Chip and ORION 3.0 Software Combo Delivers State-of-the-Art AGPS Performance for Standalone and Hosted Applications

SANTA CLARA, April 28 /PRNewswire-FirstCall/ -- Atheros Communications, Inc. , a leading developer of advanced wireless and wired network communications solutions, today announced a new member of its Radio-on-Chip for Mobile (ROCm(R)) family of GPS solutions -- a hardware and software GPS combination that targets mobile phones, Personal Navigation Devices (PNDs) and Personal Media Players (PMPs).

Atheros' new solution consists of its second-generation, single-chip GPS receiver, the AR1511, and companion ORION 3.0 software suite. This combination is ideally suited for integrating advanced navigation functions into mobile devices, with state-of-the-art Assisted GPS (AGPS) technology, advanced parallel search, and industry-leading tracking sensitivity of -160dBm, which together enable the most rapid and accurate location determination while conserving device battery power.

Atheros' latest ROCm GPS offering provides developers with turnkey, high-performance options for both standalone and host-dependent designs. This platform flexibility enables customers to design a wide variety of location-aware devices and form factors, giving Atheros a significantly expanded GPS market opportunity.

The AR1511 and ORION 3.0 solution contains new patent-pending features specifically designed to address the most challenging navigation environments. These enhancements provide considerable performance advances with Time To First Fix (TTFF) reacquisition times reduced by nearly half, and positional accuracy increased by more than 50 percent.

"With the AR1511 and ORION 3.0 combo, Atheros is delivering state-of-the-art AGPS for today's cell phone, PND and PMP users, enabling quicker fix times that result in extended battery life," said Greg Winner, general manager of Atheros' GPS business unit. "Unlike most GPS silicon providers, we offer both standalone and hosted designs that enable our customers to add GPS to virtually any type of mobile consumer device."

"Over 1.6 billion handsets are expected to ship with GPS between 2008 and 2011. With this growing penetration of GPS in handsets and other mobile products, it is more critical than ever that solution providers meet the consumer demand for high-performance navigation that's easy on battery life," said Morry Marshall, Partner -- Strategic Technologies, Semiconductor Partners LLC. "Atheros, with its proven ROCm low-power techniques and new AGPS innovations, is well positioned in the emerging mobile GPS market."

Atheros ROCm Combo Delivers High-Performance AGPS

Atheros' Assisted GPS (AGPS) options speed navigation in challenging environments -- indoors, in urban canyons and in other locations where broadcast satellite signals are obscured. AGPS can also accelerate the navigation process in conditions where broadcast ephemeris is available, by quickly securing location information from non-broadcast sources, thus reducing power consumed in satellite search mode.

> Real-time ephemeris through cellular networks Mobile networks can enable handsets with ephemeris data, satellite orbital information, more quickly than it can be downloaded directly from the satellites. The AR1511 and ORION 3.0 combo provides GSM handsets with AGPS, exceeding the industry-standard 3rd Generation Partnership Project (3GPP) specifications and the Secure User Plane for Location (SUPL) requirements, which facilitate communications between satellite location servers and GSM handsets. Bluetooth(R)-enabled PNDs and PMPs can also access cellular-based ephemeris by connecting through a nearby handset. > Real-time ephemeris through the Internet Atheros' new solution also provides conventional AGPS, access to real-time ephemeris over the Internet for PNDs, PMPs, and PCs-virtually any location-aware device that has Internet access over Wi-Fi. This allows GPS devices to have intermittent connectivity to real-time, Internet-accessed ephemeris when in the presence of a Wi-Fi access point, thus enabling accelerated location fixes, enhanced accuracy and reduced battery power. > Extended Ephemeris when real-time access is unavailable Atheros' AR1511 and ORION 3.0 combo also supports extended ephemeris, stored satellite orbital data, for any location-aware device. This feature leverages RX Networks GPStream(TM) technology to accelerate TTFF and reacquisition times with high location accuracy. Extended ephemeris can be downloaded using wired or wireless connections from Internet- or cellular-based servers. The data is stored and provides tracking ability for up to seven days, minimizing the device's need to scan the sky or frequently access networks to obtain real-time location information. The GPStream technology delivers ephemeris in highly compact 2KB files versus competitive solutions which employ bulky 40-50KB files, reducing the system memory requirement and demand on service provider networks. Like other forms of AGPS, extended ephemeris provides the added benefit of prolonging battery life through quicker location fixes.

Atheros' ROCm portfolio, consisting of mobile solutions for all AGPS connectivity modes, including GPS, Wi-Fi and Bluetooth, provides design and performance synergies to readily enhance the design process and user experience.

Fast Location Acquisition through Advanced Parallel Search

The AR1511/ORION 3.0 combo features Atheros' patent-pending advanced parallel search, which utilizes eight search engines teamed with 12 highly sensitive tracking engines. This enhanced approach to search results in significant performance advantages - reducing reacquisition time by nearly half and increasing positional accuracy by more than 50 percent in challenging environments. Atheros' unique search capability offers considerably lower power consumption versus competitive solutions that rely on thousands of correlators to calculate positioning, resulting in prolonged searches.

GPS Options for Hosted and Standalone Designs

Atheros latest GPS solutions provide enhanced design flexibility with multiple options for either standalone or host-dependent applications.

* AR1511 -- Available in a 5mm x 5mm CSP for standalone and hosted configurations, or a 10mm x 10mm BGA package for standalone and hosted configurations on low-cost PCBs * AR1511F -- 7mm x 7mm BGA package with integrated DSP and stacked flash die for small form factor standalone configurations

This AR1511F delivers GPS functionality without taxing the host processor and memory, and eliminates the need for dedicated Flash or fixed ROM. The chip provides significant advantages over competitive ROM-based solutions, with SDK support, selectable profiles and the ability to easily update software. Macronix is partnered with Atheros to provide the cost-efficient 1.8V, 8Mb MX29SL802CBXHI-90G flash option for standalone applications.

Atheros' new GPS solutions also employ worldwide satellite-based augmentation systems (SBAS) to ensure the greatest accuracy, integrity and availability of GPS information within specific geographies. Systems supported by the ORION 3.0 software include WAAS (North America), MSAS (Japan), and EGNOS (Europe).

Product Availability

The AR1511 CSP package is pin-compatible to the uN3010 CSP package and provides an easy migration path from any existing design based on Atheros' first-generation, single-chip GPS solution. The AR1511/ORION 3.0 will sample to customers in the second quarter of 2008.

About Atheros Communications, Inc.

Atheros Communications is a leading developer of semiconductor system solutions for wireless and wired communications products. Atheros combines its wireless and networking systems expertise with high-performance radio frequency (RF), mixed signal and digital semiconductor design skills to provide highly integrated chipsets that are manufactured on low-cost, standard complementary metal-oxide semiconductor (CMOS) processes. Atheros technology is used by a broad base of leading customers, including personal computer, networking equipment and consumer device manufacturers. For more information, please visit http://www.atheros.com/ or send email to info@atheros.com.

Atheros, the Atheros logo, ROCm and ORION are trademarks of Atheros Communications, Inc. All other trademarks mentioned in this document are the sole property of their respective owners.

NOTE ON FORWARD-LOOKING STATEMENTS:

Except for the historical information contained herein, the matters set forth in this press release, including the features, benefits and performance of Atheros' GPS and other products, and the anticipated growth of the market for GPS in handsets and handheld mobile devices, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including, but not limited to, difficulties in the development of new and enhanced products, general economic conditions, the effects of any changes in government regulations that may occur, and the risks detailed in Atheros' Annual Report on Form 10-K for the year ended December 2007, as filed with the Securities and Exchange Commission, and in other reports filed with the SEC by Atheros from time to time. These forward-looking statements speak only as of the date hereof. Atheros disclaims any obligation to update these forward- looking statements.

Although we believe that the forward-looking statistical information from Semiconductor Partners is reliable, we have not independently verified this data. Semiconductor Partners generally indicates that it has obtained its information from sources believed to be reliable, but does not guarantee the accuracy and completeness of the information.

Atheros Communications, Inc.

CONTACT: Dakota Lee of Atheros Communications, +1-408-720-5597,
dakota@atheros.com; Greg Wood of A&R Edelman, +1-650-762-2838,
gwood@ar-edelman.com, for Atheros; or IR, Deborah Stapleton of Stapleton
Communications, +1-650-470-0200, deb@stapleton.com, for Atheros

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

Visa Inc. Reports Fiscal Second Quarter 2008 Earnings Results- GAAP net income of $314 million for the quarter- Adjusted net income of $401 million for the quarter- GAAP diluted class A common earnings per share of $0.39 for the quarter- Adjusted diluted class A common earnings per share of $0.52 for the quarter- Payment volume grew 19% over the prior year to $681 billion

SAN FRANCISCO, April 28 /PRNewswire-FirstCall/ -- Visa Inc. today announced financial results for our fiscal second quarter ended March 31, 2008. GAAP net income for the quarter was $314 million, or $0.39 per diluted class A common share. GAAP diluted class A common shares outstanding were 778 million. On an adjusted basis (reflective of a normalized tax rate and excluding litigation, restructuring and purchase amortization), net income for the quarter was $401 million, or $0.52 per diluted class A common share. Adjusted diluted class A common shares outstanding were 779 million.

Net operating revenue in the fiscal second quarter 2008 was $1.5 billion. Strong contributions were made by service fees, data processing fees, and international transaction fees as payment volumes and processed transactions rose across all regions worldwide.

"We are very pleased with our financial results for our first quarter as a public company. Despite a challenging economic environment, Visa recorded strong growth in payments volume and transactions globally and across our diverse suite of products -- a trend which is continuing into the fiscal third quarter," said Joseph Saunders, Visa's chairman and chief executive officer. "Our performance is a testament to Visa's business model and economic resiliency, as we continue to lead the migration from cash and checks to electronic payments."

"Visa is focused on growing our business globally by extending our industry-leading processing services, expanding our products to new geographies, and further strengthening our valuable relationships with financial institutions and merchants who are critical to our success," said Mr. Saunders.

Fiscal Second Quarter 2008 Financial Highlights:

Visa Inc. reports operational performance data on a trailing one quarter basis, based on information provided to the company from client financial institutions. This operational performance data, which includes payments volume for our clients, total volume, total payments transactions, and total cards carrying Visa brands, are in part the basis for financial results in the following quarter. For the period ending December 31, 2007, which impacts the March 2008 fiscal quarter, Visa's operational performance highlights include:

-- Payments volume grew 19% over the prior year to $681 billion; -- Total volume, inclusive of cash volume was $1.1 trillion, an increase of 21% over the prior year; -- Total cards carrying the Visa brands rose 16% worldwide to 1.6 billion over the prior year; and -- Total payment transactions increased by 16% over the prior year to 11 billion.

Total processed transactions, which are based on current fiscal second quarter results on Visa's processing system, were 8.8 billion, a 15% increase over the prior year.

For the fiscal second quarter 2008, service fees were $792 million, up 29% over the prior year on a pro forma basis, and were recognized based on payment volume in the prior quarter. All other fee categories are recognized based on current quarter activity and are also compared on a pro forma basis. Data processing fees rose 34% over the prior year to $494 million. International transaction fees, which are driven by cross-border payments volume, grew 35% over the prior year to $379 million, as we continued to benefit from higher multi-currency payments volumes across all regions during the fiscal second quarter. Other revenue, which includes the Visa Europe licensing fee, was $126 million for the fiscal second quarter. Volume and incentive payments, which are contra revenue, were $338 million for the fiscal second quarter.

Total operating expenses were $1.1 billion for the fiscal second quarter, up 39% over the prior year on a pro forma basis. The increase in total operating expenses over the prior year was primarily driven by a $285 million provision for covered litigation. This amount is expected to be fully covered for Visa Inc. under the terms of the retrospective responsibility plan. Excluding this provision, operating expenses grew only 3% over the prior year on a pro forma basis.

Cash, cash equivalents, restricted cash, and available-for-sale investment securities were $8 billion at March 31, 2008, and includes $2.7 billion that we intend to use to redeem all of the series II and a portion of the series III class C shares in October 2008.

Other items for the second fiscal quarter ended March 31, 2008, included: -- The Company funded the U.S. litigation escrow account with $3 billion of net proceeds from the initial public offering; and -- A $945 million payment was made to American Express which was funded through the litigation escrow account as part of our legal settlement.

The Company's net income and earnings per share, excluding special items, are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measure in the accompanying financial tables.

Management believes the presentation of adjusted operating income and adjusted net income provides a clearer understanding of the one-time items related to the Company's reorganization and initial public offering. These measures also adjust for expenses related to covered litigation that will be funded by the litigation escrow account through the retrospective responsibility plan. These items have a significant impact on our financial results but are either non-recurring or have no operating cash impact. Recognizing that we have a very complex equity structure incorporating multiple classes and series of common stock, the Company has also presented adjusted diluted class A earnings per share calculated based on adjusted net income and the adjusted weighted average number of shares outstanding in the periods presented. This non-GAAP financial measure has been presented to illustrate our per share results reflecting our capital structure after the redemption of all class C (series II) common stock and a portion of class C (series III) common stock, which the Company intends to redeem in October 2008. The class C (series II) common stock is classified as temporary equity and the class C (series III) common stock is classified as a liability on the Company's consolidated balance sheet at March 31, 2008. Management believes this non-GAAP presentation provides the reader with a clearer understanding of our per share results by excluding those shares to be redeemed and allocating adjusted net income only to classes and series of common stock classified as permanent equity.

Fiscal Year-to-Date 2008 Results:

For the six months ended March 31, 2008, Visa Inc. reported GAAP net income of $738 million, or $0.93 per diluted class A common share. GAAP diluted class A common shares outstanding were 762 million.

On an adjusted basis, (reflective of a normalized tax rate and excluding litigation, restructuring, and purchase amortization) net income for the six months ended March 31, 2008, was $844 million, or $1.08 per diluted class A common share. Adjusted diluted class A common shares outstanding were 779 million.

Net operating revenue for the six months ended March 31, 2008, was $2.9 billion, up 24% over the prior year on a pro forma basis.

Total operating expenses were $1.9 billion for the six months ended March 31, 2008, up 21% over the prior year on a pro forma basis. The increase in total operating expenses over the prior year was primarily driven by a $285 million provision for covered litigation. This amount is expected to be fully covered for Visa Inc. under the terms of the retrospective responsibility plan. Excluding this provision, operating expenses grew only 3% over the prior year on a pro forma basis.

Financial Outlook:

Visa Inc.'s financial outlook over the next three years includes the following metrics:

-- Annual net revenue growth of 11% to 15%; -- Annual adjusted operating margin (adjusted earnings before interest and taxes) in the low 40% range; -- Annual adjusted diluted class A common earnings per share growth of 20% or greater; and -- Annual free cash flow (cash flow from operations plus cash reimbursements from litigation escrow less capital spending) in excess of $1 billion.

This outlook reflects an assumed 41% percent GAAP tax rate for fiscal year 2008. Our intent is to reduce this rate to a level around 35-36% over the next five years.

Second Quarter Results Webcast Information

Visa's executive management team will host a live audio webcast beginning at 5:00 p.m. EDT (2:00 p.m. PDT) today to discuss the financial results and business highlights.

All interested parties are invited to listen to the live webcast at http://investor.visa.com/. A replay of the webcast will be available on the Visa Investor Relations website for 30 days.

Investor information, including supplemental financial information, is available on Visa Inc.'s Investor Relations website at http://investor.visa.com/

About Visa Inc.

Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries.

Forward Looking Statements

Certain statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. These statements can be identified by the terms "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will" and similar expressions which are intended to identify forward-looking statements. In addition, any underlying assumptions are forward-looking statements. Such forward-looking statements include but are not limited to: (i) statements regarding certain of Visa's goals and expectations with respect to earnings per share, revenue, operating margin, and free cash flow, and the growth rate in those item, as well as other measures of economic performance, and (ii) statements relating to the benefits of the 2007 reorganization and the 2008 initial public offering.

By their nature, forward-looking statements (i) speak only as of the date they are made, (ii) are not guarantees of future performance or results and (iii) are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from those forward-looking statements as a result of a variety of factors, including all the risks discussed under the heading "Risk Factors" in our Prospectus dated March 18, 2008, filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(4) on March 19, 2008. You are cautioned not to place undue reliance on such statements, which speak only as of the date of this press release. Unless required to do so under U.S. federal securities laws or other applicable laws, we do not intend to update or revise any forward-looking statements.

Contacts:

- Investor Relations: Jack Carsky or Victoria Hyde-Dunn, 415-932-2213, ir@visa.com

- Media Relations: Paul Cohen or Sandra Chu, 415-932-2564, globalmedia@visa.com

Visa Inc. Consolidated Statements of Operations (unaudited) For the For the three months six months ended March 31, ended March 31, 2008 2007 2008 2007 Actual Pro forma Actual Pro forma (in millions) (in millions) Operating Revenues Service fees $792 $614 $1,524 $1,191 Data processing fees 494 370 986 747 Volume and support incentives (338) (187) (588) (323) International transaction fees 379 281 760 529 Other revenues 126 113 259 221 Total operating revenues 1,453 1,191 2,941 2,365 Operating Expenses Personnel 289 269 572 542 Network, EDP, and communications 78 69 161 137 Advertising, marketing, and promotion 215 182 425 387 Professional and consulting fees 96 136 194 237 Depreciation and amortization 59 54 121 109 Administrative and other 75 74 149 150 Litigation provision 292 13 292 15 Total operating expenses 1,104 797 1,914 1,577 Operating income 349 394 1,027 788 Other Income (Expense) Equity in earnings of unconsolidated affiliates - - 1 - Interest expense (41) (24) (86) (48) Investment income, net 34 36 75 76 Other 28 - 36 - Total other income (expense) 21 12 26 28 Income before income taxes and minority interest 370 406 1,053 816 Income tax expense 56 160 315 321 Net income $314 $246 $738 $495 Basic net income per share (1) Class A common stock $0.39 $0.93 Class B common stock $0.37 $0.92 Class C (series I) common stock $0.39 $0.93 Class C (series II) common stock $0.30 $0.81 Class C (series III and IV) common stock $0.39 $0.93 Basic weighted average shares outstanding (1) (in thousands) Class A common stock 63,800 31,726 Class B common stock 415,280 420,866 Class C (series I) common stock 255,313 256,675 Class C (series II) common stock 35,311 31,587 Class C (series III and IV) common stock 57,725 60,258 Diluted net income per share (1) Class A common stock $0.39 $0.93 Class B common stock $0.37 $0.92 Class C (series I) common stock $0.39 $0.93 Class C (series II) common stock $0.30 $0.81 Class C (series III and IV) common stock $0.39 $0.93 Diluted weighted average shares outstanding (1) (in thousands) Class A common stock 777,738 762,374 Class B common stock 415,280 420,866 Class C (series I) common stock 255,313 256,675 Class C (series II) common stock 35,311 31,587 Class C (series III and IV) common stock 57,725 60,258 (1) Note: There is no comparable earnings per share measure for 2007 as we were a non-stock company. Visa Inc. Consolidated Balance Sheets (unaudited) March 31, 2008 October 1, 2007 (in millions) Assets Cash and cash equivalents $5,041 $1,278 Restricted cash - litigation escrow 1,285 - Restricted cash - tax escrow 116 - Investment securities, available-for-sale 598 842 Settlement receivable 1,157 587 Accounts receivable 321 318 Customer collateral 500 389 Current portion of volume and support incentives 227 135 Current portion of deferred tax assets 541 771 Prepaid and other current assets 300 381 Total current assets 10,086 4,701 Restricted cash - litigation escrow 770 - Investment securities, available-for-sale 194 743 Volume and support incentives 79 72 Property, equipment, and technology, net 1,018 906 Other assets 623 625 Intangible assets 10,883 10,883 Goodwill 10,216 9,139 Total assets $33,869 $27,069 Liabilities Accounts payable $111 $164 Settlement payable 916 644 Customer collateral 500 389 Accrued compensation and benefits 317 479 Volume and support incentives 305 294 Accrued liabilities 540 496 Current portion of long-term debt 72 84 Current portion of accrued litigation 1,572 2,236 Redeemable class C (series III) common stock, 35,263,585 shares outstanding 1,508 - Total current liabilities 5,841 4,786 Long-term debt 40 40 Accrued litigation 1,349 1,446 Deferred tax liabilities 3,563 3,758 Other liabilities 761 754 Total liabilities 11,554 10,784 Temporary Equity Class C (series II) common stock, 79,748,857 shares issued and outstanding 1,127 - Total temporary equity 1,127 - Commitments and contingencies - - Stockholders' Equity Preferred stock, none issued - - Class A common stock, 447,889,803 issued and outstanding - - Class B common stock, 245,513,385 issued and outstanding - - Class C (series I) common stock, 124,503,084 issued and outstanding - - Class C (series III) common stock, 26,949,616 issued and outstanding - - Class C (series IV) common stock, 549,587 issued and outstanding - - Additional paid-in capital 20,970 16,785 Accumulated income (deficit) 223 (500) Accumulated other comprehensive loss (5) - Total equity 21,188 16,285 Total liabilities, temporary equity and stockholders' equity $33,869 $27,069 VISA INC. Consolidated Statements of Cash Flows For the Six Months Ended March 31, 2008 2007(1) (in millions) Operating Activities Net income $738 $385 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of facilities, equipment, and software 121 57 Amortization of intangibles, investments, debt issuance cost, accretion of member deposits, and asset retirement obligation - 6 Share-based compensation 19 - Fair value adjustment for liability under the framework agreement (36) - Net recognized loss (gain) on investment securities, including other-than- temporary impairment 8 (2) (Gain) loss on sale of assets - 1 Minority interest - 1 Amortization of volume and support incentives 588 225 Accrued litigation and accretion 370 51 Equity in earnings of unconsolidated affiliates (1) (25) Deferred income taxes 124 - Change in operating assets and liabilities: Accounts receivable (3) (1) Settlement receivable (569) 5 Volume and support incentives (676) (234) Other assets (61) 21 Accounts payable (54) (55) Settlement payable 273 (4) Accrued compensation and benefits (154) (34) Accrued and other liabilities 195 61 Accrued litigation (1,131) (1) Member deposits (3) (71) Net cash provided by (used in) operating activities (252) 386 Investing Activities Investment securities, available-for-sale: Purchases (1,500) (1,427) Proceeds from sales and maturities 2,279 1,222 Cash acquired through reorganization 1,002 - Contributions to joint ventures - (1) Distribution from partnership investment 1 - Purchases of property, equipment, and technology (237) (45) Proceeds from sale of property, equipment, and technology 4 - Net cash provided by (used in) investing activities 1,549 (251) Financing Activities Proceeds from short-term borrowing 2 - Payments on short-term borrowing (2) - Proceeds from sale of common stock, net of issuance costs of $550 19,100 - Payment to litigation escrow account - Retrospective Responsibility Plan (3,000) - Funding from litigation escrow account - Retrospective Responsibility Plan 945 - Payment to tax escrow account - Income tax withheld on proceeds (116) - Payment for redemption of common stock (13,446) - Principal payments on debt (12) (17) Principal payments on capital lease obligations (2) (2) Net cash used in financing activities 3,469 (19) Increase in cash and cash equivalents 4,766 116 Cash and cash equivalents at beginning of year 275 270 Cash and cash equivalents at end of year $5,041 $386

Note: (1) Historical balances represent balances for Visa U.S.A. Inc., deemed the accounting acquirer in the business combination.

Supplemental Disclosure of Cash Flow Information Income taxes paid, net of refunds $250 $177 (Decrease) increase in accounts payable and accrued and other liabilities related to purchases of property, equipment, and technology, net $(10) $(15) Interest payments on debt $4 $2 Common stock issued in acquisition $17,935 $- Pro Forma Fiscal 2007 Results of Operations (1) (in millions) For the three For the six Months Ended Months Ended March 31, 2007 March 31, 2007 Operating Revenues Service fees $614 $1,191 Data processing fees 370 747 Volume and support incentives (187) (323) International transaction fees 281 529 Other revenues 113 221 Total operating revenues 1,191 2,365 Operating Expenses Personnel 269 542 Network, EDP, and communications 69 137 Advertising, marketing, and promotion 182 387 Professional and consulting fees 136 237 Depreciation and amortization 54 109 Administrative and other 74 150 Litigation provision 13 15 Total operating expenses 797 1,577 Operating income 394 788 Other Income (Expense) Interest expense (24) (48) Investment income, net 36 76 Total other income 12 28 Income before income taxes and minority interest 406 816 Income tax expense 160 321 Net income $246 $495 (1) Visa Inc. had no operations prior to the reorganization on October 1, 2007. In order to provide insight into our operating results the pro forma results of operations for the prior periods have been prepared for comparative purposes assuming that the reorganization had occurred on October 1, 2006. These pro forma statements of operations data have been prepared in accordance with Statement of Financial Accounting Standards, or SFAS, No. 141, "Business Combinations." Pro Forma Fiscal 2007 Quarterly Results of Operations (in millions) The quarterly pro forma statements of operations data set forth below for fiscal 2007 give effect to the reorganization as if it had occurred on October 1, 2006. These pro forma statements of operations data have been prepared in accordance with Statement of Financial Accounting Standards, or SFAS, No. 141, "Business Combinations." Actual Fiscal 2008 Quarter Pro Forma Fiscal 2007 Quarter Ended Ended December March June September December 31, 2006 31, 2007 30, 2007 30, 2007 31, 2007 Operating Revenues Card Service Fees $577 $614 $661 $730 $732 Data Processing Fees 377 370 449 463 492 Volume and Support Incentives (136) (187) (175) (216) (250) International Transaction Fees 247 281 311 353 381 Other Revenues 108 113 119 133 133 Total Operating Revenues 1,173 1,191 1,365 1,463 1,488 Operating Expenses Personnel 273 269 293 324 283 Network, EDP, and Communications 68 69 77 80 83 Advertising, Marketing, and Promotion 205 182 245 443 210 Professional and Consulting Fees 101 136 159 157 98 Depreciation and amortization 55 54 55 63 62 Administrative and Other 76 74 94 105 74 Litigation Obligation Provision 2 13 (1) 2,638 - Total Operating Expenses 780 797 921 3,810 810 Operating Income 393 394 444 (2,347) 678 Other Income (Expenses) Interest Income(Expense) (23) (24) (25) (24) (45) Investment Income, net 40 36 56 65 42 Other - - 8 0 8 Total Other Income (Expense) 17 12 39 41 5 Income Before Income Taxes 410 406 483 (2,306) 683 Income Tax Expense/(Benefit) 161 160 184 (652) 259 Net Income $249 $246 $299 $(1,654) $424 Reconciliation of Non-GAAP Adjusted Operating Income and Net Income (in millions) Pro Forma Pro Forma For the For the For the Three For the Six Three Months Six Months Months Ended Months Ended Ended Ended March 31, March 31, March 31, March 31, 2008 2008 2007 2007 Net income (as reported) $314 $738 $246 1,191 Addback: Income tax expense 56 315 160 321 Net income before taxes and minority interest (as reported) $370 $1,053 $406 $1,512 Adjustments: Covered litigation reserve (1) 285 285 - - Restructuring (2) 19 55 36 47 Asset step-up amortization (3) 17 34 17 34 Adjustments to operating income 321 374 53 81 Interest accretion on American Express settlement (4) 23 46 - - Investment income on IPO proceeds (5) (7) (7) - - Underwater contract (LIBOR Adjustment) (6) (28) (36) - - Adjustments to non-operating income (12) 3 - - Total Adjustments 309 377 53 81 Adjusted net income before tax 679 1,430 459 1,593 Adjusted income tax expense(7) (278) (586) (188) (653) Adjusted net income $401 $844 $271 $940 Operating income (as reported) $349 $1,027 $394 788 Addback: Adjustments to operating income 321 374 53 81 Adjusted operting income $670 $1,401 $447 $869 Operating revenues (as reported) $1,453 $2,941 $1,191 2,365 Adjusted operating margin 46% 48% 38% 37% Total operating expenses (as reported) $1,104 $1,914 $797 $1,577 Less: Adjustments to operating expenses (321) (374) (53) (81) Adjusted operating expenses $783 $1,540 $744 $1,496 (1) Litigation expense recorded in the period related to the covered litigation. Settlements of, or judgments in, the covered litigation will be paid from the litigation escrow account. (2) Restructuring costs, primarily severance in fiscal 2008, associated with workforce consolidation and elimination of overlapping functions. (3) Non-cash amortization and depreciation of the incremental basis in technology and building assets acquired in the reorganization. (4) Interest expense recorded on future payments to be made under the settlement agreement with American Express. These payments will be paid from the litigation escrow account. (5) Investment income earned during the period on all IPO proceeds held, including amounts the Company intends to use in October 2008 to redeem all class C (series II) common stock and a portion of the class C (series III) common stock held by Visa Europe. (6) Other income recorded in the period as a result of a reduction in the Company's estimated liability under the Framework Agreement, which governs its relationship with Visa Europe. This reduction was a result of lower LIBOR rates in the period. This liability will not continue after the October 2008 redemptions described above. (7) Reflects a normalized tax rate of 41%.

Reconciliation of Non-GAAP Weighted Average Class A Common Stock Outstanding Used in the Calculation of Adjusted Diluted Class A Common Earnings Per Share

For the Three For the Six Months Ended Months Ended March 31, 2008 March 31, 2008 (in millions) Weighted Average Shares Outstanding - GAAP 778 762 Class A Shares (1) 383 415 Class B Shares (2) (226) (238) Class C Shares (3) (161) (165) Class A Share Equivalents (4) 5 5 Share Adjustments 1 17 Adjusted Weighted Average Shares Outstanding - Non GAAP 779 779 (1) For GAAP purposes, the number of class A common shares outstanding is weighted to reflect the issuance of 446,600,000 shares at the IPO date of March 19, 2008. In the calculation of the adjusted weighted average shares outstanding, these shares are assumed to have been issued at the beginning of each period presented. (2) For GAAP purposes, the number of class B common shares outstanding is weighted to reflect the redemption of 154,738,487 shares on March 28, 2008 and the reduction of the conversion ratio applicable to remaining shares outstanding to 0.71 to 1. In the calculation of the adjusted weighted average shares outstanding, these shares are weighted to assume that the redemption and reduction in conversion ratio had occurred at the beginning of each period presented. (3) For GAAP purposes, the number of class C (series I, II, III & IV) common shares is weighted to reflect the redemption of 159,657,751 shares of class C (series I) common stock on March 28, 2008, and the reclassification of all shares of class C (series II) common stock to temporary equity and 35,263,585 shares of class C (series III) common stock to liabilities on the IPO date of March 19, 2008. Upon reclassification of the class C (series II) and class C (series III) common stock these shares are no longer convertible into shares of class A common stock. In the calculation of adjusted weighted average shares outstanding, these shares are weighted to assume that the redemption and reclassifications occurred at the beginning of each period presented. (4) For GAAP purposes, the number of class A common shares outstanding is weighted to reflect the assumed issuance of class A common stock underlying stock options, restricted stock and restricted stock units to employees and directors at the IPO date of March 19, 2008, applying the treasury method. In the calculation of the adjusted weighted average shares outstanding, these shares are weighted to assume the issuance of these awards at the beginning of each period presented. The assumed number of shares underlying stock options assumed issued for adjusted non-GAAP purposes assumes the repurchase of shares at the share price on March 31, 2008 of $62.36. Class A Common Stock Adjusted Diluted Earnings Per Share

Management believes the presentation of adjusted operating income and adjusted net income provides a clearer understanding of the one-time items related to the Company's reorganization and initial public offering. These measures also adjust for expenses related to covered litigation that will be funded by the litigation escrow account. These items have a significant impact on our financial results but are either non-recurring or have no operating cash impact.

Recognizing that we have a very complex equity structure incorporating multiple classes and series of common stock, the Company has also presented adjusted diluted class A earnings per share calculated below based on adjusted net income and the adjusted weighted average number of shares outstanding in the periods presented. This non-GAAP financial measure has been presented to illustrate our per share results reflecting our capital structure after the redemption of all class C (series II) common stock and a portion of class C (series III) common stock, which the Company intends to redeem in October 2008. The class C (series II) common stock is classified as temporary equity and the class C (series III) common stock is classified as a liability on the Company's consolidated balance sheet at March 31, 2008. Management believes this non-GAAP presentation provides the reader with a clearer understanding of our per share results by excluding these shares to be redeemed and allocating adjusted net income only to permanent equity.

For the Three For the Six Months Ended Months Ended March 31, 2008 March 31, 2008 (in millions, except per share data) Adjusted net income $401 $844 Adjusted weighted average number of diluted shares outstanding 779 779 Adjusted diluted earnings per share $0.52 $1.08 Operational Performance Data

The tables below provide information regarding the operational results for the 3 months ended December 31, 2007, as well as the prior eight quarterly reporting periods and the years ended December 31, 2005, 2006 and 2007, for cards carrying the Visa, Visa Electron and Interlink brands.

1. Branded Volume and Transactions

The tables present Payments Volume, Cash Volume, Total Volume, the number of payments transactions, cash transactions, accounts and cards for cards carrying the Visa, Visa Electron and Interlink brands. Card counts include PLUS proprietary cards. Nominal and constant dollar growth rates over prior periods are provided for volume-based data.

For the 3 Months Ended December 31, 2007 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 241 28.4% 23.0% 158 24.3% 19.6% 1,931 Canada 51 29.3% 13.6% 45 28.5% 12.8% 382 CEMEA 115 43.8% 38.9% 18 44.1% 40.1% 235 LAC 145 33.3% 21.3% 47 44.1% 30.5% 1,132 US 514 11.3% 11.3% 413 12.4% 12.4% 7,416 Visa Inc. 1,067 21.5% 17.8% 681 18.5% 15.8% 11,097 Visa Credit Programs US 253 8.8% 8.8% 218 9.7% 9.7% 2,462 Rest of World 272 26.7% 19.5% 232 27.3% 19.7% 2,863 Visa Inc. 524 17.4% 14.1% 450 18.1% 14.6% 5,325 Visa Debit Programs US 261 13.9% 13.9% 195 15.6% 15.6% 4,955 Rest of World 281 39.1% 29.8% 36 43.5% 32.9% 817 Visa Inc. 542 25.7% 21.6% 231 19.2% 18.0% 5,772 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 83 36.9% 29.9% 452 368 446 Canada 6 36.5% 19.9% 9 23 31 CEMEA 97 43.8% 38.7% 590 139 147 LAC 99 28.8% 17.4% 757 284 307 US 101 7.1% 7.1% 730 476 686 Visa Inc. 386 27.1% 21.6% 2,539 1,290 1,616 Visa Credit Programs US 35 3.9% 3.9% 33 259 365 Rest of World 40 23.2% 18.5% 136 372 431 Visa Inc. 75 13.3% 11.2% 169 631 796 Visa Debit Programs US 66 8.9% 8.9% 698 217 321 Rest of World 245 38.5% 29.4% 1,672 442 500 Visa Inc. 311 30.9% 24.4% 2,369 659 820 For the 3 Months Ended September 30, 2007 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 215 25.6% 19.6% 140 22.1% 16.8% 1,796 Canada 47 22.7% 12.9% 42 21.4% 11.8% 362 CEMEA 101 43.0% 38.4% 15 39.0% 35.1% 211 LAC 121 26.7% 19.0% 38 38.5% 29.6% 1,004 US 489 9.6% 9.6% 388 10.7% 10.7% 7,033 Visa Inc. 972 18.4% 15.5% 623 15.8% 13.6% 10,405 Visa Credit Programs US 240 6.7% 6.7% 206 8.5% 8.5% 2,314 Rest of World 243 22.5% 16.4% 206 23.6% 17.2% 2,654 Visa Inc. 483 14.1% 11.4% 412 15.6% 12.7% 4,968 Visa Debit Programs US 249 12.6% 12.6% 182 13.3% 13.3% 4,719 Rest of World 241 36.0% 28.5% 29 39.6% 31.1% 718 Visa Inc. 489 23.0% 19.9% 212 16.4% 15.5% 5,437 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 74 32.8% 25.1% 417 348 422 Canada 6 33.0% 22.5% 9 23 31 CEMEA 85 43.8% 39.0% 545 125 136 LAC 83 21.9% 14.6% 691 267 289 US 101 5.6% 5.6% 730 442 643 Visa Inc. 349 23.3% 19.0% 2,392 1,205 1,522 Visa Credit Programs US 35 -2.9% -2.9% 34 254 358 Rest of World 37 16.4% 12.0% 128 353 410 Visa Inc. 71 6.2% 4.2% 162 607 769 Visa Debit Programs US 67 10.7% 10.7% 696 188 285 Rest of World 211 35.5% 28.2% 1,534 409 468 Visa Inc. 278 28.6% 23.5% 2,230 597 753 For the 3 Months Ended June 30, 2007 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 201 20.6% 16.3% 132 19.9% 16.7% 1,708 Canada 45 18.2% 12.0% 40 17.4% 11.3% 352 CEMEA 90 38.7% 37.0% 14 32.4% 32.8% 197 LAC 114 32.5% 19.1% 35 42.2% 28.2% 945 US 484 9.5% 9.5% 385 10.4% 10.4% 6,903 Visa Inc. 934 17.1% 14.4% 606 14.7% 13.1% 10,104 Visa Credit Programs US 235 6.4% 6.4% 203 8.3% 8.3% 2,251 Rest of World 228 19.8% 15.8% 194 21.2% 16.8% 2,519 Visa Inc. 464 12.6% 10.8% 396 14.3% 12.3% 4,770 Visa Debit Programs US 248 12.7% 12.7% 183 12.7% 12.7% 4,652 Rest of World 222 34.2% 25.1% 27 39.7% 29.9% 682 Visa Inc. 470 21.9% 18.3% 210 15.6% 14.6% 5,334 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 69 21.9% 15.5% 373 336 412 Canada 5 24.5% 18.0% 9 22 30 CEMEA 76 39.9% 37.8% 508 121 124 LAC 79 28.6% 15.4% 669 257 281 US 98 6.5% 6.5% 720 419 617 Visa Inc. 327 21.8% 17.0% 2,279 1,155 1,465 Visa Credit Programs US 33 -4.3% -4.3% 32 246 345 Rest of World 35 12.6% 10.2% 120 339 394 Visa Inc. 67 3.7% 2.6% 152 584 739 Visa Debit Programs US 66 12.8% 12.8% 688 174 272 Rest of World 195 33.5% 24.5% 1,439 397 454 Visa Inc. 260 27.6% 21.3% 2,127 571 726 For the 3 Months Ended March 31, 2007 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 189 23.1% 18.7% 126 20.8% 17.1% 1,599 Canada 36 10.3% 11.8% 31 9.2% 10.7% 309 CEMEA 81 44.8% 45.2% 12 35.3% 41.7% 183 LAC 104 19.4% 19.9% 31 25.9% 25.8% 904 US 440 9.1% 9.1% 347 8.9% 8.9% 6,260 Visa Inc. 850 16.1% 15.3% 548 12.9% 12.3% 9,255 Visa Credit Programs US 214 7.8% 7.8% 181 8.0% 8.0% 2,021 Rest of World 208 17.1% 15.4% 177 18.5% 16.7% 2,343 Visa Inc. 423 12.2% 11.4% 357 13.0% 12.1% 4,364 Visa Debit Programs US 226 10.4% 10.4% 166 10.0% 10.0% 4,239 Rest of World 201 33.4% 31.5% 24 35.3% 33.8% 652 Visa Inc. 427 20.1% 19.4% 190 12.7% 12.6% 4,890 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 63 28.1% 22.2% 382 321 397 Canada 4 19.1% 20.7% 9 22 30 CEMEA 68 46.6% 45.9% 477 117 122 LAC 72 16.8% 17.6% 658 251 271 US 94 9.8% 9.8% 698 412 607 Visa Inc. 302 22.3% 21.2% 2,224 1,124 1,426 Visa Credit Programs US 33 7.0% 7.0% 30 243 341 Rest of World 32 9.8% 8.6% 105 322 375 Visa Inc. 65 8.3% 7.8% 135 565 716 Visa Debit Programs US 60 11.4% 11.4% 668 170 266 Rest of World 176 33.1% 31.2% 1,421 389 444 Visa Inc. 237 26.8% 25.6% 2,089 559 710 For the 3 Months Ended December 31, 2006 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 188 21.9% 15.9% 127 21.1% 15.8% 1,600 Canada 40 11.1% 11.3% 35 10.1% 10.3% 344 CEMEA 80 43.0% 40.7% 12 32.2% 34.2% 175 LAC 109 22.2% 17.5% 33 30.4% 25.3% 911 US 462 8.3% 8.3% 367 8.1% 8.1% 6,544 Visa Inc. 878 15.4% 13.6% 574 12.4% 11.3% 9,573 Visa Credit Programs US 232 7.7% 7.7% 199 7.7% 7.7% 2,270 Rest of World 214 17.9% 14.1% 182 19.2% 15.4% 2,371 Visa Inc. 447 12.4% 10.8% 381 12.9% 11.4% 4,640 Visa Debit Programs US 230 8.9% 8.9% 169 8.5% 8.5% 4,275 Rest of World 202 32.0% 26.3% 25 36.0% 30.6% 658 Visa Inc. 431 18.6% 16.7% 194 11.4% 11.1% 4,933 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 61 23.7% 16.0% 381 308 381 Canada 4 19.8% 20.0% 9 22 30 CEMEA 68 45.1% 41.9% 470 104 112 LAC 77 19.0% 14.5% 687 241 262 US 95 9.2% 9.2% 698 406 604 Visa Inc. 304 21.4% 18.2% 2,245 1,081 1,388 Visa Credit Programs US 34 7.7% 7.7% 32 240 345 Rest of World 32 11.4% 7.2% 107 314 363 Visa Inc. 66 9.5% 7.5% 140 554 709 Visa Debit Programs US 61 10.0% 10.0% 666 166 259 Rest of World 177 31.4% 25.7% 1,440 361 421 Visa Inc. 238 25.2% 21.5% 2,105 527 680 For the 3 Months Ended September 30, 2006 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 171 16.8% 15.0% 115 17.5% 16.3% 1,508 Canada 38 17.1% 11.0% 34 16.4% 10.4% 330 CEMEA 70 38.9% 40.1% 11 29.6% 35.2% 157 LAC 95 20.7% 18.1% 27 27.9% 25.0% 810 US 446 11.6% 11.6% 350 11.1% 11.1% 6,230 Visa Inc. 821 15.9% 15.1% 538 13.9% 13.3% 9,036 Visa Credit Programs US 225 9.6% 9.6% 190 9.0% 9.0% 2,149 Rest of World 198 16.6% 14.4% 167 17.9% 15.8% 2,243 Visa Inc. 423 12.8% 11.9% 356 13.0% 12.2% 4,392 Visa Debit Programs US 221 13.8% 13.8% 161 13.7% 13.7% 4,081 Rest of World 177 27.4% 25.2% 21 32.2% 30.7% 563 Visa Inc. 398 19.5% 18.7% 182 15.6% 15.6% 4,644 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 56 15.4% 12.3% 360 298 367 Canada 4 23.4% 17.0% 9 22 29 CEMEA 59 40.8% 41.1% 424 94 104 LAC 68 18.0% 15.5% 643 228 248 US 96 13.6% 13.6% 733 398 599 Visa Inc. 283 20.0% 18.7% 2,169 1,041 1,347 Visa Credit Programs US 36 13.1% 13.1% 34 242 351 Rest of World 31 10.0% 7.5% 102 297 346 Visa Inc. 67 11.6% 10.3% 136 539 696 Visa Debit Programs US 60 14.0% 14.0% 699 156 249 Rest of World 156 26.8% 24.5% 1,334 346 402 Visa Inc. 216 22.9% 21.5% 2,033 502 651 For the 3 Months Ended June 30, 2006 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 167 17.9% 18.1% 110 15.9% 16.6% 1,416 Canada 38 23.5% 12.3% 34 23.0% 11.8% 322 CEMEA 65 43.5% 42.2% 10 35.5% 35.9% 147 LAC 86 21.4% 20.9% 25 29.3% 27.9% 769 US 441 14.8% 14.8% 349 15.7% 15.7% 6,158 Visa Inc. 797 18.5% 17.9% 528 17.1% 16.5% 8,812 Visa Credit Programs US 221 11.5% 11.5% 187 12.1% 12.1% 2,091 Rest of World 191 16.7% 14.9% 160 18.4% 16.5% 2,126 Visa Inc. 412 13.8% 13.0% 347 14.9% 14.1% 4,216 Visa Debit Programs US 220 18.3% 18.3% 162 20.2% 20.2% 4,068 Rest of World 165 32.1% 30.5% 19 33.9% 32.7% 528 Visa Inc. 386 23.8% 23.4% 182 21.5% 21.5% 4,596 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 56 22.0% 20.9% 353 287 354 Canada 4 27.4% 15.8% 9 21 28 CEMEA 55 45.2% 43.4% 407 86 95 LAC 61 18.5% 18.3% 620 219 236 US 92 11.4% 11.4% 710 390 611 Visa Inc. 269 21.2% 20.5% 2,098 1,003 1,324 Visa Credit Programs US 34 8.3% 8.3% 32 236 344 Rest of World 31 8.5% 6.8% 97 283 329 Visa Inc. 65 8.4% 7.6% 129 519 672 Visa Debit Programs US 58 13.3% 13.3% 677 153 268 Rest of World 146 31.9% 30.2% 1,291 330 384 Visa Inc. 204 26.0% 25.1% 1,969 484 652 For the 3 Months Ended March 31, 2006 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 154 12.2% 16.0% 104 11.9% 16.3% 1,302 Canada 32 18.0% 13.5% 29 18.4% 13.8% 282 CEMEA 56 38.8% 41.7% 9 28.8% 31.7% 126 LAC 87 37.6% 21.3% 25 45.7% 28.6% 742 US 403 16.1% 16.1% 318 17.6% 17.6% 5,687 Visa Inc. 732 19.0% 18.2% 485 17.7% 17.8% 8,140 Visa Credit Programs US 199 11.7% 11.7% 167 12.7% 12.7% 1,884 Rest of World 178 14.1% 15.0% 149 16.0% 16.9% 1,962 Visa Inc. 376 12.8% 13.2% 316 14.2% 14.6% 3,847 Visa Debit Programs US 205 20.8% 20.8% 151 23.6% 23.6% 3,802 Rest of World 151 34.8% 28.3% 18 37.2% 31.0% 491 Visa Inc. 356 26.4% 23.9% 169 24.9% 24.3% 4,293 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 49 12.7% 15.2% 327 276 341 Canada 4 15.4% 10.9% 9 21 27 CEMEA 47 41.0% 43.7% 357 82 89 LAC 62 34.5% 18.6% 600 204 225 US 85 11.0% 11.0% 662 383 606 Visa Inc. 247 21.7% 18.9% 1,955 966 1,288 Visa Credit Programs US 31 6.7% 6.7% 30 232 338 Rest of World 29 5.3% 6.1% 88 273 315 Visa Inc. 60 6.1% 6.4% 118 505 653 Visa Debit Programs US 54 13.6% 13.6% 632 151 268 Rest of World 133 34.5% 28.0% 1,205 311 367 Visa Inc. 187 27.7% 23.5% 1,837 462 635 For the 3 Months Ended December 31, 2005 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 154 12.9% 15.3% 105 12.0% 14.4% 1,290 Canada 36 17.9% 10.7% 32 17.8% 10.6% 316 CEMEA 56 37.7% 43.5% 9 31.2% 38.6% 127 LAC 89 31.1% 20.1% 25 38.9% 28.3% 758 US 426 16.1% 16.1% 340 17.4% 17.4% 5,983 Visa Inc. 761 18.4% 17.8% 511 17.3% 17.1% 8,475 Visa Credit Programs US 215 10.5% 10.5% 184 11.2% 11.2% 2,128 Rest of World 182 13.1% 12.7% 153 15.1% 14.6% 1,991 Visa Inc. 397 11.7% 11.5% 337 12.9% 12.8% 4,119 Visa Debit Programs US 211 22.3% 22.3% 155 25.6% 25.6% 3,855 Rest of World 153 33.6% 29.4% 18 39.7% 35.1% 500 Visa Inc. 364 26.8% 25.4% 174 27.0% 26.6% 4,356 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 49 14.8% 17.3% 329 266 328 Canada 4 19.1% 11.8% 9 21 27 CEMEA 47 39.1% 44.4% 358 75 83 LAC 64 28.3% 17.2% 632 194 214 US 87 11.3% 11.3% 674 373 584 Visa Inc. 250 20.7% 19.2% 2,002 929 1,236 Visa Credit Programs US 31 6.7% 6.7% 32 228 327 Rest of World 29 3.5% 3.2% 90 264 304 Visa Inc. 60 5.1% 4.9% 121 492 631 Visa Debit Programs US 55 14.0% 14.0% 642 144 257 Rest of World 135 32.8% 28.7% 1,239 293 348 Visa Inc. 190 26.7% 24.4% 1,881 437 605 For the 12 Months Ended December 31, 2007 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 846 24.6% 19.5% 556 21.9% 17.6% 7,034 Canada 179 20.6% 12.7% 158 19.6% 11.7% 1,404 CEMEA 386 42.6% 39.6% 59 38.1% 37.4% 827 LAC 485 28.3% 19.9% 152 38.1% 28.7% 3,984 US 1,927 9.9% 9.9% 1,533 10.7% 10.7% 27,612 Visa Inc. 3,822 18.4% 15.8% 2,458 15.6% 13.8% 40,860 Visa Credit Programs US 942 7.5% 7.5% 807 8.7% 8.7% 9,048 Rest of World 951 21.8% 16.9% 808 22.9% 17.7% 10,379 Visa Inc. 1,894 14.2% 12.0% 1,615 15.4% 13.0% 19,427 Visa Debit Programs US 985 12.4% 12.4% 726 13.0% 13.0% 18,564 Rest of World 944 35.9% 28.7% 117 39.9% 31.9% 2,869 Visa Inc. 1,929 22.8% 19.9% 843 16.1% 15.3% 21,433 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 289 30.1% 23.3% 1,624 368 446 Canada 21 28.6% 20.2% 37 23 31 CEMEA 327 43.4% 40.0% 2,120 139 147 LAC 333 24.2% 16.3% 2,775 284 307 US 394 7.2% 7.2% 2,877 476 686 Visa Inc. 1,364 23.8% 19.7% 9,433 1,290 1,616 Visa Credit Programs US 136 0.7% 0.7% 129 259 365 Rest of World 143 15.7% 12.5% 490 372 431 Visa Inc. 278 7.9% 6.4% 618 631 796 Visa Debit Programs US 259 10.9% 10.9% 2,749 217 321 Rest of World 827 35.4% 28.3% 6,066 442 500 Visa Inc. 1,086 28.6% 23.7% 8,815 659 820 For the 12 Months Ended December 31, 2006 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 679 17.3% 16.2% 457 16.7% 16.3% 5,827 Canada 148 17.1% 11.9% 132 16.6% 11.4% 1,278 CEMEA 271 41.2% 41.1% 43 31.5% 34.4% 605 LAC 378 24.8% 19.2% 110 32.7% 26.5% 3,233 US 1,753 12.5% 12.5% 1,385 12.8% 12.8% 24,619 Visa Inc. 3,228 17.1% 16.0% 2,126 15.1% 14.5% 35,561 Visa Credit Programs US 877 10.0% 10.0% 742 10.2% 10.2% 8,394 Rest of World 781 16.4% 14.6% 658 17.9% 16.1% 8,702 Visa Inc. 1,658 12.9% 12.2% 1,400 13.7% 13.0% 17,096 Visa Debit Programs US 876 15.1% 15.1% 642 16.0% 16.0% 16,225 Rest of World 695 31.4% 27.4% 84 34.8% 31.2% 2,240 Visa Inc. 1,570 21.8% 20.4% 726 17.9% 17.7% 18,466 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 222 18.6% 16.0% 1,421 308 381 Canada 16 21.5% 16.2% 36 22 30 CEMEA 228 43.1% 42.4% 1,657 104 112 LAC 268 21.9% 16.5% 2,550 241 262 US 368 11.3% 11.3% 2,803 406 604 Visa Inc. 1,102 21.1% 19.0% 8,468 1,081 1,388 Visa Credit Programs US 135 9.0% 9.0% 129 240 345 Rest of World 123 8.9% 6.9% 394 314 363 Visa Inc. 258 8.9% 8.0% 523 554 709 Visa Debit Programs US 233 12.7% 12.7% 2,674 166 259 Rest of World 611 31.0% 26.9% 5,270 361 421 Visa Inc. 844 25.3% 22.8% 7,945 527 680 For the 12 Months Ended December 31, 2005 Total Payments Payments Volume Growth Growth Volume Growth Growth Trans- ($ (Nominal (Constant ($ (Nominal (Constant actions billions) USD) USD) billions) USD) USD) (millions) All Visa Credit & Debit Asia Pacific 579 21.3% 16.0% 391 19.8% 14.4% 4,713 Canada 126 21.3% 10.9% 113 21.2% 10.9% 1,176 CEMEA 192 17.3% 13.7% 33 15.7% 11.9% 432 LAC 303 34.4% 21.4% 83 42.6% 29.3% 2,625 US 1,558 16.1% 16.1% 1,227 17.5% 17.5% 21,750 Visa Inc. 2,757 19.3% 16.2% 1,847 19.1% 16.8% 30,696 Visa Credit Programs US 797 10.6% 10.6% 674 10.5% 10.5% 7,757 Rest of World 671 18.4% 11.5% 558 21.0% 14.2% 7,254 Visa Inc. 1,468 14.0% 11.0% 1,231 15.0% 12.2% 15,011 Visa Debit Programs US 761 22.5% 22.5% 554 27.3% 27.3% 13,993 Rest of World 529 31.0% 23.0% 62 37.5% 28.3% 1,692 Visa Inc. 1,289 25.8% 22.7% 616 28.3% 27.4% 15,685 Cash Cash Volume Growth Growth Trans- ($ (Nominal (Constant actions Accounts Cards billions) USD) USD) (millions)(millions)(millions) All Visa Credit & Debit Asia Pacific 188 24.7% 19.2% 1,190 266 328 Canada 13 21.7% 11.2% 36 21 27 CEMEA 159 17.6% 14.1% 1,234 75 83 LAC 220 31.5% 18.7% 2,343 194 214 US 331 11.0% 11.0% 2,588 373 584 Visa Inc. 911 19.5% 15.1% 7,392 929 1,236 Visa Credit Programs US 123 10.8% 10.8% 126 228 327 Rest of World 113 7.3% 0.0% 339 264 304 Visa Inc. 237 9.1% 5.2% 465 492 631 Visa Debit Programs US 207 11.2% 11.2% 2,462 144 257 Rest of World 467 30.2% 22.4% 4,465 293 348 Visa Inc. 674 23.7% 18.9% 6,927 437 605 Footnote

The preceding tables present Payments Volume, Cash Volume, Total Volume, the number of payments transactions, cash transactions, accounts and cards for cards carrying the Visa, Visa Electron and Interlink brands. Card counts include PLUS proprietary cards. Nominal and constant dollar growth rates over prior periods are provided for volume-based data.

Payments Volume represents the aggregate dollar amount of purchases made with cards carrying the Visa, Visa Electron and Interlink brands for the relevant period; and Cash Volume represents the aggregate dollar amount of cash disbursements obtained with these cards for the relevant period and includes the impact of balance transfers and convenience checks; but excludes proprietary PLUS volume. Total Volume represents Payments Volume plus Cash Volume.

Visa payment products are comprised of credit and debit programs, and data relating to each program is included in the tables. Debit programs include Visa's signature based and Interlink (PIN) debit programs.

The data presented is reported quarterly by Visa's members on their operating certificates and is subject to verification by Visa. On occasion, members may update previously submitted information.

Visa's CEMEA region is comprised of countries in Central Europe, the Middle East and Africa. Several European Union countries in Central Europe, Israel and Turkey are not included in CEMEA. LAC is comprised of countries in Central and South America and the Caribbean. Rest of World includes Asia Pacific, Canada, CEMEA and LAC.

Information denominated in U.S. dollars is calculated by applying an established U.S. dollar/local currency exchange rate for each local currency in which Visa Inc. volumes are reported ("Nominal USD"). These exchange rates are calculated on a quarterly basis using the established exchange rate for each quarter. To eliminate the impact of foreign currency fluctuations against the U.S. dollar in measuring performance, Visa Inc. also reports period-over-period growth in Total Volume, Payments Volume and Cash Volume on the basis of local currency information ("Constant USD"). This presentation represents Visa's historical methodology which may be subject to review and refinement.

2. Processed Transactions

The table below represents transactions involving Visa-branded cards processed on the VisaNet processing system.

Period Processed Transactions Year-over-Year (millions) Growth 3 Months Ended Mar 31, 2008 8,800 15% Dec 31, 2007 9,094 13% Sep 30, 2007 8,645 12% Jun 30, 2007 8,411 13% Mar 31, 2007 7,645 12% Dec 31, 2006 8,018 11% Sep 30, 2006 7,722 NA Jun 30, 2006 7,441 NA Mar 31, 2006 6,828 NA Dec 31, 2005 7,212 NA 12 Months Ended Sep 30, 2007 32,720 12% Sep 30, 2006 29,202 NA

Visa Inc.

CONTACT: Investors: Jack Carsky or Victoria Hyde-Dunn, +1-415-932-2213,
ir@visa.com, Media: Paul Cohen or Sandra Chu, +1-415-932-2564,
globalmedia@visa.com, all of Visa Inc.

Web site: http://investor.visa.com/

Seagate CFO Charles Pope Plans Transition to New Role, Company Names Patrick O'Malley to Assume CFO Position

SCOTTS VALLEY, Calif., April 28 /PRNewswire-FirstCall/ -- Seagate Technology announced today that a long-standing member of its executive management team, chief financial officer Charles Pope, has elected to retire from his CFO role effective August 25, 2008, and will focus solely on leading the Seagate Services group, a leading provider of data management and protection solutions.

In his 24 years at Seagate, Pope has held a variety of financial and operating roles. His responsibilities have included leadership of the company's merger and acquisition activity, portfolio management, the re-engineering of many of Seagate's business processes, and the management of the company's media operations, all culminating in being named Chief Financial Officer in 1998 and subsequently assuming leadership of Seagate Services earlier this year.

Pope will be succeeded by Patrick O'Malley, currently Seagate's senior vice president, Finance Treasury. O'Malley is presently responsible for corporate accounting, reporting, treasury and credit, along with corporate financial planning and analysis and financial support for Seagate's business units, Sales, and other functions. In his previous positions at Seagate since joining the company in 1988, O'Malley has garnered a wealth of relevant experience including the implementation of critical finance and management systems, and the management of the company's Consumer Electronics business unit during its critical first year.

"Charles has played an instrumental role in shaping Seagate's success during years of unprecedented growth both within the company and the storage industry," said Bill Watkins, Seagate CEO. "I am very pleased that Seagate will continue to benefit from Charles' experience and capabilities as he leads Seagate Services going forward. I am also very pleased that the CFO role and responsibilities will transition from Charles to another highly skilled and well-qualified executive within Seagate's Finance organization. Pat O'Malley has been a valued senior executive during some of Seagate's most dramatic years of change, and I have every confidence that he will serve us well as our new CFO."

About Seagate

Seagate is the worldwide leader in the design, manufacture and marketing of hard disc drives and storage solutions, providing products for a wide-range of applications, including Enterprise, Desktop, Mobile Computing, Consumer Electronics and Branded Solutions. Seagate's business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, with the goal of being the time-to-market leader in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world's growing demand for information storage. Seagate can be found around the globe and at http://www.seagate.com/.

About Seagate Services Group

The mission of the Seagate Services Group (a division of Seagate Technology) is to protect and manage businesses' most valuable information, giving customers the ability to access their data when and as needed. The group's trusted services and solutions are based on the most advanced technologies and are delivered, deployed and managed to suit unique business needs. The group is comprised of EVault, a trusted expert in comprehensive data protection solutions with software and outsourced services for backup, recovery, archiving, business continuity and E-Discovery; Seagate Recovery Services, an industry forerunner and innovator in data recovery, data migration, and data accessibility solutions; and MetaLINCS, a leading provider of enterprise software for intelligent E-Discovery of relevant electronic messages and documents. For more information, please visit http://services.seagate.com/.

Seagate, Seagate Technology and the Wave logo are registered trademarks of Seagate LLC.

Seagate Technology

CONTACT: Brian Ziel, +1-831-439-5429, brian.ziel@seagate.com, or Woody
Monroy, +1-831-439-2838, woody.monroy@seagate.com, both of Seagate Technology

Web site: http://www.seagate.com/
http://services.seagate.com/

AnalogicTech Reports First Quarter 2008 Financial Results- Q108 margins of 54.7% versus 52.9% for Q107 and 52.6% for Q407- Q108 revenue of $25.1 million; up 18.9% year-over-year

SANTA CLARA, Calif., April 28 /PRNewswire-FirstCall/ -- Advanced Analogic Technologies, Inc. ("AnalogicTech" or the "Company") , a developer of power management semiconductors for mobile consumer electronic devices, today reported financial results for the first quarter ended March 31, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO)

For the first quarter of 2008 net revenue was $25.1 million, an increase of 18.9% compared to net revenue of $21.1 million for the first quarter of 2007 and a sequential decrease of 21.7% compared to net revenue of $32.1 million for the fourth quarter of 2007.

Net income for the first quarter of 2008 was $0.4 million or $0.01 per diluted share. This compares to a net loss of $(2.8) million, or $(0.06) per diluted share, for the first quarter of 2007, and net income of $3.0 million, or $0.06 per diluted share, for the fourth quarter of 2007. On a non-GAAP basis, excluding stock-based compensation expense and amortization of acquired intangibles associated with the APSemi acquisition, net of taxes, net income for the first quarter of 2008 was $2.0 million, or $0.04 per diluted share. This compares to a non-GAAP net loss of $(1.0) million, or $(0.02) per diluted share, for the first quarter of 2007 and a non-GAAP net income of $4.6 million, or $0.10 per diluted share, for the fourth quarter of 2007. Non-GAAP net loss for the first quarter of 2007 excluded stock-based compensation expense, amortization of acquired intangibles and loss on liquidation of a foreign branch office, net of taxes. Non-GAAP net income for the fourth quarter of 2007 excluded stock-based compensation expense and amortization of acquired intangibles, net of taxes.

AnalogicTech reported gross margins of 54.7% for the first quarter of 2008, compared to 52.9% for the first quarter of 2007 and 52.6% for the fourth quarter of 2007. Non-GAAP gross margin was 56.0% for the first quarter of 2008, compared to 54.4% for the first quarter of 2007 and 53.6% for the fourth quarter of 2007. First quarter gross margin increased sequentially, primarily due to favorable product mix and yields. The Company ended the quarter with $111.2 million in cash, cash equivalents, and short-term investments.

"Seasonality combined with a decline in sales from China-based handset manufacturers resulted in lower than anticipated revenue for the first quarter," stated Richard K. Williams, President, CEO and CTO of AnalogicTech. "Despite challenging industry conditions, we achieved our expectations for earnings as we increased our margins through improvements in product mix and yields. While concerns remain about the macro-economic environment, we are encouraged by the traction we are experiencing across our product lines and the volume of recent design wins, including several in high profile handset models. We continue to benefit from multiple growth drivers which gives us confidence in our prospects for the second half of the year."

Business Outlook

The following statements are based upon management's current expectations. These statements are forward-looking, and actual results may differ materially. AnalogicTech undertakes no obligation to update these statements.

For the second quarter ending June 30, 2008, AnalogicTech estimates revenue in the range of $24.0 million to $26.0 million, and net loss of $(0.01) to net income of $0.01 per diluted share. The second quarter 2008 estimates include pre-tax quarterly share-based compensation expense of $1.9 to $2.1 million.

Non-GAAP Reporting

In addition to GAAP reporting, AnalogicTech reports net income, gross margin and earnings per share on a non-GAAP basis. This non-GAAP earnings information excludes certain items and their tax-related effects. AnalogicTech believes this non-GAAP earnings information provides meaningful insight into the company's ongoing operational performance and has therefore chosen to provide this information to investors as an additional dimension of comparability to similar companies. AnalogicTech also uses this information internally to evaluate and manage company operations and to determine incentive compensation. A reconciliation between GAAP and non-GAAP net income, gross margin and earnings per share is included in the tables below.

The non-GAAP information included in this press release is not necessarily comparable to non-GAAP information of other companies. Non-GAAP information should not be viewed as a substitute for, or superior to, net income or other data prepared in accordance with GAAP as measures of our profitability or liquidity. Users of this financial information should consider the types of events and transactions for which adjustments have been made.

Conference Call Details

The AnalogicTech first quarter 2008 teleconference and webcast is scheduled to begin at 4:30 p.m. Eastern Time on Monday, April 28, 2008. To participate in the live call, analysts and investors should dial 800-240-2134 or 303-262-2140 at least ten minutes prior to the call. AnalogicTech will also offer a live and archived webcast of the conference call, accessible from the Company's investor relations website at http://www.aati.com/ or via the corporate website, http://www.analogictech.com/. A telephonic replay of the conference call will also be available until Friday, May 2, 2008, by dialing 800-405-2236 and entering the passcode 11111974#. Callers outside the U.S. and Canada may access the replay by dialing 303-590-3000 and entering the passcode 11111974#.

About AnalogicTech

Advanced Analogic Technologies, Inc. (AnalogicTech) is a supplier of Total Power Management(TM) semiconductor solutions for mobile consumer electronic devices, such as wireless handsets, notebook and tablet computers, smartphones, digital cameras, wireless LAN, and personal media players. The company focuses its design and marketing efforts on the application-specific power management needs of consumer, communications, and computing applications in these rapidly evolving devices. AnalogicTech also develops and licenses device, process, package, and application-related technology. AnalogicTech is headquartered in Santa Clara, California and Macau, S.A.R., with offices in China (Beijing, Shanghai and Shenzhen), Hong Kong, Taiwan, Japan, South Korea, Sweden, France and United Kingdom, as well as a worldwide network of sales representatives and distributors. The company is listed on the NASDAQ exchange under the ticker symbol AATI. For more information, please visit the AnalogicTech website: http://www.analogictech.com/. (AnalogicTech - F)

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995

Statements contained in this release that are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including financial projections and forecasts, involve risks and uncertainties that could cause AnalogicTech's actual results to differ materially from our current expectations. Factors that could cause AnalogicTech's results to differ materially from those set forth in these forward-looking statements include customers' cancellation or modification of their orders; our failure to accurately forecast demand for our products; the loss of, or a significant reduction in orders from, any of our significant customers; fluctuations in our operating results; our inability to develop and sell new products; defects in or failures of our products; the expense and uncertainty involved in our customer design-win efforts; the financial viability of the distributors of our products; consumer demand for cellular phones and other mobile consumer electronic devices; worldwide economic and political conditions, particularly in Asia; fluctuations in our costs to manufacture our products; our reliance on third parties to manufacture, test, assemble and ship our products; our ability to retain and attract key personnel; our ability to compete with our competitors; and our ability to protect our intellectual property rights and not infringe the intellectual property rights of others. Other factors that may cause our actual results to differ from those set forth in the forward-looking statements contained in this press release and that may affect our prospects in general are described in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1 related to our initial public offering and our Annual Report on Form 10-K for the year ended December 31, 2007. AnalogicTech undertakes no obligation to update or revise forward-looking statements to reflect subsequent events or changed assumptions or circumstances.

NOTE: AnalogicTech and the AnalogicTech logo are trademarks of Advanced Analogic Technologies, Inc. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands) Mar. 31, Dec. 31, 2008 2007 (*) ASSETS CURRENT ASSETS Cash and cash equivalents $75,879 $53,779 Short-term investments 35,350 60,448 Total cash, cash equivalents and short term investments 111,229 114,227 Accounts receivable, net of allowances 13,853 14,428 Inventories 14,056 12,214 Prepaid expenses and other current assets 1,692 2,273 Notes receivable 2,000 2,000 Deferred income taxes - current 591 591 Total current assets 143,421 145,733 Property and equipment, net 5,593 4,699 Goodwill 15,717 15,717 Intangible assets, net 1,837 2,127 Other assets 4,120 1,377 Deferred income taxes - noncurrent 6,718 6,815 $177,406 $176,468 TOTAL ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $10,768 $7,938 Accrued liabilities 4,270 8,623 Income tax payable 821 1,367 Total current liabilities 15,859 17,928 Long-term income tax payable 1,353 1,053 Long-term debt and capital lease obligations 1 41 Other long-term liabilities 176 155 Total liabilities 17,389 19,177 Total stockholders' equity 160,017 157,291 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $177,406 $176,468 * Amounts as of December 31, 2007 were derived from the December 31, 2007 audited financial statements. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended Mar. 31, Mar. 31, Dec. 31, 2008 2007 2007 NET REVENUE $25,101 $21,108 $32,065 Cost of revenue 11,369 9,932 15,186 GROSS PROFIT 13,732 11,176 16,879 OPERATING EXPENSES: Research and development 7,659 7,103 8,368 Sales, general and administrative 6,445 6,202 6,585 Patent litigation 262 1,589 136 Total operating expenses 14,366 14,894 15,089 INCOME (LOSS) FROM OPERATIONS (634) (3,718) 1,790 OTHER INCOME (EXPENSES), NET 1,144 1,098 1,221 INCOME (LOSS) BEFORE INCOME TAXES 510 (2,620) 3,011 PROVISION FOR INCOME TAXES 64 131 60 NET INCOME (LOSS) $446 $(2,751) $2,951 NET INCOME (LOSS) PER SHARE: Basic $0.01 $(0.06) $0.07 Diluted $0.01 $(0.06) $0.06 WEIGHTED AVERAGE SHARES USED IN NET INCOME (LOSS) PER SHARE CALCULATION: Basic 45,491 44,319 45,158 Diluted 47,060 44,319 47,767 Note: FAS123R was adopted at the beginning of fiscal 2006. Stock compensation recorded in each expense classification above is as follows: Cost of revenues $77 $65 $73 Research and development 790 611 735 Sales, general and administrative 860 1,034 1,011 $1,727 $1,710 $1,819 Financial Summary (Non-GAAP) (in thousands, except per share amounts) (unaudited) Three Months Ended GAAP TO NON-GAAP RECONCILIATION Mar. 31, Mar. 31, Dec. 31, 2008 2007 2007 GROSS MARGIN: GAAP GROSS MARGIN 13,732 11,176 16,879 GAAP GROSS MARGIN % 54.7% 52.9% 52.6% Amortization of acquired intangibles 242 242 242 Stock-based compensation 77 65 73 NON-GAAP GROSS MARGIN 14,051 11,483 17,194 NON-GAAP GROSS MARGIN % 56.0% 54.4% 53.6% NET INCOME (LOSS): NET INCOME (LOSS) ON GAAP BASIS: $446 $(2,751) $2,951 Stock-based compensation $1,727 $1,710 $1,819 Amortization of acquired intangibles 290 290 290 Loss on liquidation of a foreign branch office - 266 - Associated tax effects (446) (496) (462) NET INCOME (LOSS) ON NON-GAAP BASIS: $2,017 $(981) $4,598 EPS: GAAP EPS, DILUTED $0.01 $(0.06) $0.06 NON-GAAP EPS, DILUTED $0.04 $(0.02) $0.10

Photo: http://www.newscom.com/cgi-bin/prnh/20050829/SFTU089LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com Advanced Analogic Technologies, Inc.

CONTACT: Investors, Brian McDonald, Chief Financial Officer of
AnalogicTech, +1-408-737-4788; or Lisa Laukkanen of The Blueshirt Group,
+1-415-217-4967, for AnalogicTech

Web site: http://www.analogictech.com/
http://www.aati.com/

Atheros Announces Financial Results for Q1 2008Twelfth Consecutive Quarter of Revenue Growth

SANTA CLARA, Calif., April 28 /PRNewswire-FirstCall/ -- Atheros Communications, Inc. , a leading developer of advanced wireless and wired network communications solutions, today announced financial results for its first quarter ended March 31, 2008.

Revenue in the first quarter was a record $114.5 million, compared with $114.3 million reported in the fourth quarter of 2007 and $95.5 million reported in the first quarter of 2007.

In accordance with U.S. generally accepted accounting principles (GAAP), the company recorded first quarter net income of $3.4 million or $0.06 per diluted share. This compares with GAAP net income of $13.4 million or $0.22 per diluted share in the fourth quarter of 2007. Net income in the first quarter of 2007 was $7.6 million or $0.13 per diluted share. Total cash, cash equivalents and marketable securities were $255.6 million at March 31, 2008, up $5.6 million from the prior quarter.

Atheros reports gross margins, operating expenses, operating income, net income and basic and diluted net income per share in accordance with GAAP and additionally on a non-GAAP basis. Non-GAAP net income excludes, where applicable, the effect of stock-based compensation, amortization of acquired intangible assets and acquisition related charges, the other-than-temporary impairment of long-term investments and the tax impact of these excluded items. A reconciliation of preliminary GAAP to non-GAAP net income, as well as a description of items excluded in the calculation of non-GAAP net income is presented in the financial statements portion of this release.

Non-GAAP gross margins in the first quarter were 51.2 percent, compared with 52.3 percent in the fourth quarter of 2007 and 48.0 percent in the first quarter of 2007. Non-GAAP operating income was 15.3 percent of revenue, compared with 19.0 percent in the fourth quarter of 2007 and 14.5 percent in the first quarter of 2007.

Non-GAAP net income in the first quarter was $17.2 million or $0.28 per diluted share, compared with $21.4 million or $0.36 per diluted share in the fourth quarter of 2007 and $13.6 million or $0.23 per diluted share in the first quarter of 2007.

"We are pleased to report our twelfth consecutive quarter of revenue growth. Revenue from our networking customers was particularly strong in the first quarter, due primarily to the continued adoption of our 802.11n WLAN products by retail and carrier customers," said Craig Barratt, president and CEO.

"Revenue from our consumer business grew significantly in the first quarter, as we recorded initial revenue from our ROCm(R) GPS products. We continue diversifying our revenue sources and expanding our customer base in a variety of markets," Dr. Barratt said.

"Today we announced a new member of our ROCm family of GPS solutions, a hardware and software GPS combination that targets mobile phones, Personal Navigation Devices (PNDs) and Personal Media Players (PMPs). This solution consists of our second-generation, single-chip GPS receiver, the AR1511, and

companion ORION 3.0 software suite, providing leading performance and features for our customers," he said.

Recent Atheros Highlights: -- April 28 -- Atheros Enhances GPS User Experience with Advanced Navigation and Low Power in Handsets, PNDs and PMPs -- April 8 -- Atheros Announces Christine King as New Board Member -- April 8 -- Wi-Fi Alliance(R) Welcomes Atheros Communications as New Sponsor Member -- March 17 -- Infineon and Atheros Announce Lowest-Cost Mobile Phone Platform for Internet-Based Telephony -- Feb 11 -- Atheros Brings Wireless Connectivity to Next-Generation Entertainment-Rich Smartphones -- Feb 6 -- Atheros ROCm Technology Provides Wi-Fi Connectivity in Z-Com's Wireless VoIP Phones Conference Call

Atheros will broadcast its first quarter financial results conference call today, Monday, April 28, 2008 at 2 p.m. Pacific time (5 p.m. Eastern time).

To listen to the call, please dial (210) 234-0000 approximately 10 minutes prior to the start time. The pass code is Atheros. A taped replay will be available approximately one hour after the conclusion of the call and will remain available for one week. To access the replay, dial (203) 369-3489.

The Atheros financial results conference call will be available via a live webcast on the investor relations section of the Atheros website at http://www.atheros.com/. Please access the website approximately 15 minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay of the call will be available on the web site for one year.

About Atheros Communications, Inc.

Atheros Communications is a leading developer of semiconductor system solutions for wireless and wired communications products. Atheros combines its wireless and networking systems expertise with high-performance radio frequency (RF), mixed signal and digital semiconductor design skills to provide highly integrated chipsets that are manufactured on low-cost, standard complementary metal-oxide semiconductor (CMOS) processes. Atheros technology is used by a broad base of leading customers, including personal computer, networking equipment and consumer device manufacturers. For more information, please visit http://www.atheros.com/ or send email to info@atheros.com .

NOTE: Atheros, the Atheros logo and ROCm are trademarks of Atheros Communications, Inc.

Note on Forward-Looking Statements

Except for the historical information contained herein, the matters set forth in this press release, including the anticipated continued diversification of our revenue sources and expansion of our customer base are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including, but not limited to the impacts of competition, technological advances; general economic conditions; difficulties in the development of new products and technologies; whether Atheros is successful in marketing and selling its products; and other risks detailed in Atheros' Annual Report on Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission, and in other reports filed with the SEC by Atheros from time to time. These forward-looking statements speak only as of the date hereof. Atheros disclaims any obligation to update these forward-looking statements.

ATHEROS COMMUNICATIONS, INC. PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) Three Months Ended March 31, 2008 2007 Net revenue $114,518 $95,518 Cost of goods sold 56,462 49,916 Gross profit 58,056 45,602 Operating expenses: Research and development 30,054 23,606 Sales and marketing 11,942 8,422 General and administrative 5,994 4,727 Amortization of acquired intangible assets 3,409 1,779 Total operating expenses 51,399 38,534 Income from operations 6,657 7,068 Interest income, net 2,420 2,492 Impairment of long-term investments (5,070) -- Provision for income taxes (590) (1,961) Net income $3,417 $7,599 Basic earnings per share $0.06 $0.14 Diluted earnings per share $0.06 $0.13 Shares used in computing basic earnings per share 58,909 54,681 Shares used in computing diluted earnings per share 61,448 58,310 ATHEROS COMMUNICATIONS, INC. PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) March 31, December 31, 2008 2007 ASSETS Current assets: Cash, cash equivalents and marketable securities $230,187 $219,544 Accounts receivable, net 72,279 58,002 Inventory 37,589 35,497 Deferred income taxes and other current assets 17,107 16,084 Total current assets 357,162 329,127 Property and equipment, net 14,108 13,492 Long-term investments 27,383 30,453 Goodwill and acquired intangible assets 132,846 136,125 Deferred income taxes and other assets 13,894 12,940 $545,393 $522,137 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities $87,312 $76,844 Deferred income taxes and other long-term liabilities 44,227 43,836 Stockholders' equity 413,854 401,457 $545,393 $522,137 ATHEROS COMMUNICATIONS, INC. RECONCILIATION OF PRELIMINARY GAAP TO NON-GAAP NET INCOME (Unaudited) (In thousands, except per share data) Three Months Ended March 31, 2008 2007 GAAP net income $3,417 $7,599 Stock-based compensation: Cost of goods sold 152 125 Research and development 3,709 2,996 Sales and marketing 1,792 1,041 General and administrative 999 698 Total stock-based compensation 6,652 4,860 Acquisition related charges: Amortization of acquired intangible assets 3,409 1,779 Other acquisition related charges 791 159 Impairment of long-term investments 5,070 -- Net tax effect of non-GAAP adjustments (2,155) (785) Non-GAAP net income $ 17,184 $ 13,612 Shares used in computing non-GAAP basic earnings per share 58,909 54,681 Shares used in computing non-GAAP diluted earnings per share 61,448 58,310 Non-GAAP basic earnings per share $0.29 $0.25 Non-GAAP diluted net income per share $0.28 $0.23 ATHEROS COMMUNICATIONS, INC. RECONCILIATION OF PRELIMINARY GAAP TO NON-GAAP FINANCIAL MEASURES

To supplement our unaudited selected financial data presented on a basis consistent with Generally Accepted Accounting Principles (or "GAAP"), the Company discloses certain non-GAAP financial measures, including non-GAAP gross profit, operating expenses, operating income and net income. These supplemental measures exclude stock-based compensation, acquisition-related charges, other-than-temporary impairments of long-term marketable securities and any tax detriment or benefit between the income tax expense with and without the non-GAAP measures. These non-GAAP measures are not in accordance with, nor serve as an alternative for GAAP. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our GAAP results of operations. These non-GAAP measures should only be viewed in conjunction with corresponding GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of our core operating performance on a period-to-period basis. The excluded items represent charges and gains that are primarily driven by discrete events that we do not consider to be directly related to core operating performance. We use non-GAAP measures to evaluate the core operating performance of our business, for comparison with forecasts and strategic plans, for calculating return on investment and for benchmarking performance externally against competitors. In addition, management's incentive compensation is determined using these non-GAAP measures. Also, when evaluating potential acquisitions, we primarily consider the impact of the target's performance and valuation on our non-GAAP measures. Since we find these measures to be useful, we believe that investors benefit from seeing results reviewed by management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with our GAAP financials, provide useful information to investors by offering:

-- more meaningful comparability of our on-going operating results; -- the ability to better identify trends in our underlying business; and -- a way to compare our operating results against analyst financial models and operating results of competitors that supplement their GAAP results with non-GAAP financial measures.

The following are explanations of each type of adjustment that we incorporate into non-GAAP financial measures:

Stock-based compensation expense relates to equity awards granted to our workforce. Our stock incentive plans are important components of our employee incentive compensation arrangements and are reflected as expenses in our GAAP results under Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment, effective as of January 1, 2006. While we include the dilutive impact of such equity awards in weighted average shares outstanding, the expense associated with stock-based awards is excluded from non-GAAP net income. These non-cash charges are not factored into our internal evaluation of net income as we believe their inclusion would hinder our ability to assess core operational performance.

Acquisition-related charges include the amortization of acquired intangible assets primarily consisting of acquired technology, customer relationships, covenants not to compete, step-up of inventory to its estimated fair value, backlog and cash earn outs. These charges are not factored into our evaluation of potential acquisitions, or of our performance after completion of acquisitions, because they are generally non-cash and are not related to our core operating performance, and the frequency and amount of such charges vary significantly based on the timing and magnitude of our acquisition transactions, the then fair market value of our common stock and the maturities of the businesses being acquired.

Impairment of long-term investments relates to the other-than-temporary, non-operating write down of our investments in auction-rate securities, rated AA and AAA at the date of purchase. The liquidity and fair value of these securities has been impacted by the uncertainty in the credit markets and the exposure of these securities to the financial condition of bond insurance companies. While we have received all interest payments due on these instruments on a timely basis, we have determined that these assets have been other-than-temporarily impaired and therefore they were written down to their estimated fair values. These charges are not factored into our internal evaluation of net income as we believe they are non-operating charges that do not impact our core operating performance.

Adjustment for taxes relates to the tax effect of various adjustments that we incorporate into non-GAAP measures in order to provide a more meaningful measure of non-GAAP net income. We believe that these adjustments provide us with the ability to more clearly view trends in our core operating performance.

Reconciliations of non-GAAP measures disclosed in this press release are set forth below (in thousands, except percentages):

Three Months Ended March 31, 2008 2007 GAAP gross profit $ 58,056 $ 45,602 Amortization of acquisition-related step-up value of inventory 451 159 Stock -based compensation 152 125 Non-GAAP gross profit $ 58,659 $ 45,886 GAAP gross profit as a % of revenue 50.7% 47.7% Amortization of acquisition related step-up value of inventory 0.4% 0.2% Stock -based compensation 0.1% 0.1% Non-GAAP gross profit as a % of revenue 51.2% 48.0% GAAP operating expenses $ 51,399 $ 38,534 Stock- based compensation (6,500) (4,735) Acquisition-related deferred compensation (340) -- Amortization of acquired intangible assets (3,409) (1,779) Non-GAAP operating expenses $ 41,150 $ 32,020 GAAP income from operations $ 6,657 $ 7,068 Amortization of acquisition-related step-up value of inventory 451 159 Stock-based compensation 6,652 4,860 Acquisition-related deferred compensation 340 -- Amortization of acquired intangible assets 3,409 1,779 Non-GAAP income from operations $ 17,509 $ 13,866 GAAP income from operations as a % of revenue 5.8% 7.4% Amortization of acquisition-related step-up value of inventory 0.4% 0.1% Stock-based compensation 5.8% 5.1% Acquisition-related deferred compensation 0.3% --% Amortization of acquired intangible assets 3.0% 1.9% Non-GAAP income from operations 15.3% 14.5%

Atheros Communications, Inc.

CONTACT: Jack Lazar, Chief Financial Officer of Atheros Communications,
Inc., +1-408-773-5200; or Deborah Stapleton, President of Stapleton
Communications Inc., +1-650-470-0200, for Atheros Communications, Inc.

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

Ball State University Taking the Pulse on Educating the Next Generation of NursesLive webinar focuses on using technology to heal the healthcare-staffing shortage

MADISON, Wis., April 28 /PRNewswire-FirstCall/ -- Sonic Foundry, Inc. , the recognized market leader for rich media webcasting and knowledge management, will host a webinar featuring faculty from the School of Nursing at Ball State University.

WHO: -- Linda Siktberg, Director of the School of Nursing -- Kay Hodson Carlton, Professor and Coordinator of Educational Resources and Extended Education Services -- Sean Brown, Sonic Foundry's VP of Education, will moderate

WHAT: From taking a patient's blood pressure to practicing complex and critical nursing procedures, the next generation of nursing graduates is entering a more demanding health care system that not only requires them to have a vast amount of knowledge at their fingertips, but also expects them to heal the healthcare-staffing shortage. In this webinar, the expert faculty panel from Ball State University School of Nursing will show you how their use of cutting-edge technologies are preparing nurses to succeed at the highest levels of the profession.

The presentation will include: -- An overview of how Mediasite is used to supplement both online and on-site teaching to record and evaluate student performance and to reach distance learners -- Demonstration of using Mediasite to record and archive students' interaction with patient simulations, known as SimBaby, Noelle, PediaSIM and SimMan, that improve educational outcomes and encourage the kind of critical thinking necessary in a clinical setting -- Real-life examples of how technology helps nursing students enter the workforce with heightened confidence and competence in their clinical decision-making skills

WHEN: Live webinar Tuesday, April 29 at 11:00 a.m. Central. Also available on demand.

WHERE: To register for this complimentary online webinar, visit: http://www.sonicfoundry.com/register.

About Sonic Foundry(R), Inc.

Founded in 1991, Sonic Foundry is the recognized market leader for rich media webcasting and knowledge management, providing education and training solutions and services that link an information-driven world. Based in Madison, Wisconsin, the company has received numerous awards including the 2007 Frost & Sullivan Global Market Leadership Award, Ziff Davis Media's Baseline Magazine's sixth fastest-growing software company with sales under $150 million and Deloitte's Technology Fast 500. Named a Bersin & Associates 2007 Learning Leader, Sonic Foundry's webcasting and knowledge management solutions are trusted by education institutions, Fortune 500 companies and government agencies for a variety of critical communication needs. Sonic Foundry is changing the way organizations communicate via the web and how people around the globe receive vital information needed for education, business, professional advancement and safety. Product and service names mentioned herein are the trademarks of Sonic Foundry, Inc. or their respective owners.

Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for Sonic Foundry's products, its ability to succeed in capturing significant revenues from media services and/or systems, the effect of new competitors in its market, integration of acquired business and other risk factors identified from time to time in its filings with the Securities and Exchange Commission.

Sonic Foundry, Inc.

CONTACT: Tammy Kramer of Sonic Foundry, Inc., +1-608-237-8592,
tammyk@sonicfoundry.com

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

LSI to Present at Merrill Lynch Technology Conference

MILPITAS, Calif., April 28 /PRNewswire-FirstCall/ -- LSI Corporation today announced that Phil Brace, Senior Vice President, Corporate Planning and Marketing, will be presenting at the Merrill Lynch Technology Conference in New York City on Tuesday, May 6, 2008, at 3:45 p.m. Eastern Time.

The presentation will be available to the public via audio webcast at http://www.lsi.com/webcast. Following the conference, a replay of the webcast will be available on the LSI website at http://www.lsi.com/webcast.

About LSI

LSI Corporation is a leading provider of innovative silicon, systems and software technologies that enable products which seamlessly bring people, information and digital content together. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage and Networking markets. More information is available at http://www.lsi.com/.

LSI Corporation

CONTACT: Media, Mitch Seigle, +1-408-954-3225, mitch.seigle@lsi.com, or
Investors, Sujal Shah, +1-610-712-5471, sujal.shah@lsi.com, both
LSI Corporation

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

Hologic to Present at The Morgan Stanley Global Healthcare Unplugged Conference

BEDFORD, Mass., April 28 /PRNewswire-FirstCall/ -- Hologic, Inc. today announced that Patrick Sullivan, Executive Chairman, and Glenn Muir, Chief Financial Officer, will be presenting at the Morgan Stanley Global Healthcare Unplugged Conference being held April 30 - May 2, 2008, at the Ritz-Carlton Hotel in Key Biscayne, FL.

Interested parties are invited to listen to a live audio webcast of Hologic's investor presentation on Friday, May 2, 2008, at 9:10 a.m., Eastern Time on the investor section of the Company's website at http://www.hologic.com/investor. An archive of the presentation will be available for replay following the conference.

About Hologic, Inc.

Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women. Hologic leads the industry in digital mammography systems and offers the most advanced technology for breast imaging and breast biopsy. Hologic's core business units are focused on breast health, diagnostics, GYN surgical, and skeletal health. Hologic provides a comprehensive suite of technologies with products for mammography and breast biopsy, radiation treatment for early-stage breast cancer, cervical cancer screening, treatment for menorrhagia, osteoporosis assessment, preterm birth risk assessment, and mini C-arm for extremity imaging. For more information visit http://www.hologic.com/.

Glenn P. Muir Frances Doria Executive Vice President & CFO Director, Investor Relations Hologic, Inc. Hologic, Inc. (781) 999-7300 (781) 999-7377

Hologic, Inc.

CONTACT: Glenn P. Muir, Executive Vice President & CFO, +1-781-999-7300,
or Frances Doria, Director, Investor Relations, +1-781-999-7377, both of
Hologic, Inc.

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

Rockford Corporation Reports First Quarter 2008 Results

TEMPE, Ariz., April 28 /PRNewswire-FirstCall/ -- Rockford Corporation today announced financial results for the three months ended March 31, 2008.

Net loss for the three months ended March 31, 2008 was $0.1 million, compared to a net loss of $0.9 million for the comparable period in 2007.

Net sales for the three months ended March 31, 2008, decreased 30.1% to $18.4 million compared to $26.4 million for the same period in 2007. The decrease in net sales was primarily due to lower sales in the mass retail, independent specialist and OEM distribution channels. Net sales for the three months ended March 31, 2007 included sales of end-of-life product and initial pipeline shipments of Rockford's 2007 new product line.

As a percent of net sales, gross margin for the three months ended March 31, 2008 increased to 34.5% compared to 29.9% for the same period in 2007. The increase in gross margin percentage was primarily due to lower manufacturing variances, lower sales discounts and higher royalty revenue as a percent of sales.

Operating expenses for the three months ended March 31, 2008, decreased 25.8% to $6.2 million compared to the 2007 level of $8.4 million. In the 2007 period operating expenses included a special charge of approximately $1.1 million primarily related to the Retirement and Salary Continuation Agreement for Rockford's former Chief Executive Officer.

William R. Jackson, Rockford's President, commented, "The car audio market continues to be tough. We are seeing softness in the mass retail channel and, to a lesser extent, in our specialist dealers.

"We had a number of factors contributing to this quarter's poor sales performance. Last year we sold an unusually high amount of end of life products, which increased sales but had a negative impact on margins. This year we did not have the end-of-life inventory issue to work through. In addition, the load in during the first quarter of 2007 of an entire new product line to Best Buy and our specialist dealers also contributed to our reduced sales in 2008. This year we made fewer changes to our product line and did not have a sales load in similar to the one we had in 2007.

"Our OEM business has been impacted by the downturn in the car market. Nissan has reported softness in their truck and SUV sales. Since this has represented our largest market segment with Nissan, their softness had a disproportionate impact on our OEM sales. On a more positive note, Mitsubishi continues to do well, particularly in the international markets.

"We have recently received a letter of acceptance from a new OEM partner. This customer will be launching a new vehicle in the second half of 2009 that will offer a Rockford Fosgate branded audio system. The vehicle will be sold globally, but only the US market vehicles will feature the Rockford Fosgate branded audio system. This new OEM customer is smaller in revenue than our current partners. We continue to believe the OEM business remains an excellent growth opportunity for Rockford.

"We are pleased that our margins continue to climb and the reliability of our products remains excellent. Operationally, we continue to execute our outsourcing model, which is on track to be completed by the end of 2008.

"Our team is working closely with our retail and OEM partners and we hope to have a strong summer season. Although the market remains tough and challenging, we believe our brand strength and great products will remain attractive to consumers."

About Rockford Corporation (http://www.rockfordcorp.com/)

Rockford is a designer, marketer and distributor of high-performance audio systems for the mobile audio aftermarket and for the OEM market. Rockford's mobile audio products are marketed primarily under the Rockford Fosgate(R), Rockford Acoustic Design(TM) and Lightning Audio(R) brand names.

Rockford's primary brand websites include: http://www.rockfordfosgate.com/, http://www.rockfordacousticdesign.com/, and http://www.lightningaudio.com/.

Forward-looking Statement Disclosure

We make forward-looking statements in this press release including but not limited to statements about our results of operations. These statements may be identified by the use of forward-looking terminology such as "may," "will," "believe," "expect," "anticipate," "estimate," "continue," or other similar words.

Forward-looking statements are subject to many risks and uncertainties. Rockford cautions you not to place undue reliance on these forward-looking statements, which speak only as at the date on which they are made. Actual results may differ materially from those anticipated in our forward-looking statements. Rockford disclaims any obligation or undertaking to update these forward-looking statements to reflect changes in our expectations or changes in events, conditions, or circumstances on which our expectations are based.

Rockford's revenues continued to decline in 2008, primarily attributable to continued weakness in the mobile audio aftermarket and to the elimination in 2008 of end-of-life and new product load in sales that increased sales in the same period in 2007. The U.S. retail environment for mobile audio appeared to become more difficult during 2007 and early 2008, with many retailers reporting decreases in customer traffic. Negative economic headlines, and increased gasoline prices, appear to have contributed to this difficult environment by making customers and retailers become more conservative in their spending. If sales erode more rapidly in 2008, Rockford may not be able to achieve its business objectives. In this event, Rockford could suffer setbacks in its competitive position, ability to improve its aftermarket and OEM businesses, and overall financial performance. Under such circumstances, Rockford might not be able to sustain the return of its business to profitability achieved in 2007.

When considering our forward-looking statements, you should keep in mind the risk factors and other cautionary statements identified in Rockford's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 14, 2008. The risk factors noted throughout the report, particularly those identified in the discussion in Item 1A of the report, and other risk factors that Rockford has not anticipated or discussed, could cause our actual results to differ significantly from those anticipated in our forward-looking statements.

Rockford Corporation Condensed Consolidated Statements of Operations For the Three Months Ended March 31, 2007 and 2008 ($000s omitted except per share amounts) Three Months Ended March 31, 2007 2008 (unaudited) Net sales $26,372 $18,445 Cost of goods sold 18,492 12,088 Gross profit 7,880 6,357 Operating expenses 8,408 6,241 Operating income (loss) (528) 116 Interest and other expense 339 207 Loss before income taxes (867) (91) Income tax expense - - Net Loss $(867) $(91) Loss per common share: Net loss Basic $(0.09) $(0.01) Diluted $(0.09) $(0.01) Weighted average shares: Basic 9,392 8,883 Diluted 9,392 8,883 Rockford Corporation Condensed Consolidated Balance Sheets At December 31, 2007 and March 31, 2008 (In thousands) December 31, March 31, 2007 2008 ASSETS (unaudited) Current assets: Cash $ - $ - Accounts receivable, net 15,885 18,870 Inventories 14,352 11,942 Prepaid expenses and other current assets 1,224 1,068 Total current assets 31,461 31,880 Property and equipment, net 1,905 1,886 Other assets 646 554 Total assets $34,012 $34,320 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $5,794 $6,104 Accrued salaries and incentives 1,415 1,357 Accrued warranty and returns 1,267 1,224 Other accrued liabilities 1,640 2,186 Current portion of other long-term liabilities 760 562 Asset based credit facility 3,475 3,562 Total current liabilities 14,351 14,995 Notes payable 9,582 9,578 Other long-term liabilities 133 39 Total liabilities 24,066 24,612 Shareholders' equity: Common stock 94 94 Additional paid-in-capital 38,319 38,369 Retained deficit (27,569) (27,660) Treasury stock (898) (1,095) Total shareholders' equity 9,946 9,708 Total liabilities and shareholders' equity $34,012 $34,320

Rockford Corporation

CONTACT: Richard Vasek, Chief Financial Officer of Rockford Corporation,
+1-480-517-3169

Web site: http://www.rockfordcorp.com/
http://www.rockfordfosgate.com/
http://www.rockfordacousticdesign.com/
http://www.lightningaudio.com/

Garmin Navigation to Be Standard Equipment in Suzuki SX4

OLATHE, Kan., April 28 /PRNewswire-FirstCall/ -- Garmin International Inc., a unit of Garmin Ltd. , the global leader in satellite navigation, announced today that it would provide an integrated navigation system for the new 2009 Suzuki SX4 as standard equipment. The program marks the first time in America that a vehicle under $16,000 will include GPS navigation as a standard feature.

(Logo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO)

"We're delighted to work with Suzuki to make Garmin navigation standard equipment on the Suzuki SX4," said Dan Bartel, Garmin's vice president of worldwide sales. "The device includes a fully integrated mount that allows for elegant mounting inside the vehicle, but also makes it easy-to-remove for adventures on foot. And Suzuki has customized it with its own set of fun and useful destinations and points of interest."

Based on Garmin's popular nuvi 700 series of premium navigators, the Suzuki T.R.I.P. (Travel, Real-time traffic, Information and Play) system has maps of North America pre-loaded, and has a bright 4.3-inch touchscreen display with nearly six million points of interest (POI) -- places like restaurants, hotels, ATM machines, and more.

While a base version of the navigation system will be included on these vehicles as standard equipment, users can upgrade to a premium navigation device with the SX4's upgrade package. This enhanced navigator includes next-generation dynamic content from the MSN Direct network, including up-to-date traffic information, fuel prices, and weather reports. The system also offers news and stock market information, local events, movie listings, and the ability to plan trips and look up destinations on a computer and then wirelessly send them to the device. Owners can pair most Bluetooth-enabled phones with the device, for hands-free calling.

The system is also uniquely integrated into the SX4's audio system. Drivers can listen to the radio or CD player, and the audio will automatically lower when their navigation device gives a voice prompt or when there's an incoming Bluetooth-enabled phone call. Furthermore, the MSN Direct antenna is seamlessly integrated into the vehicle's existing antenna, and it continuously is collecting the most up-to-date data.

Suzuki is enhancing the unit's POI database by adding a number of lifestyle-oriented, Suzuki-recommended destinations and landmarks to the system. These locations include hip music venues, popular surf spots, offbeat road trip attractions and other activity-focused destinations that are clearly marked with a Suzuki "Way of Life" icon on the navigation screen. A dedicated community site will also be launched to support the sharing and downloading of user-generated recommendations for destinations and drive routes among Suzuki SX4 owners.

2009 Suzuki SX4 models are scheduled to arrive in dealer showrooms this summer.

About Garmin

Garmin International Inc. is a subsidiary of Garmin Ltd. , the global leader in satellite navigation. Since 1989, this group of companies has designed, manufactured, marketed and sold navigation, communication and information devices and applications -- most of which are enabled by GPS technology. Garmin's products serve automotive, mobile, wireless, outdoor recreation, marine, aviation, and OEM applications. Garmin Ltd. is incorporated in the Cayman Islands, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual pressroom at http://www.garmin.com/pressroom or contact the Media Relations department at 913-397-8200. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries.

All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on forward-looking statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. All statements regarding the company's future product introductions are forward-looking statements. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 29, 2007 filed by Garmin with the Securities and Exchange Commission (Commission file number 000-31983). A copy of Garmin's Form 10-K can be downloaded at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Photo: http://www.newscom.com/cgi-bin/prnh/20061026/CGTH082LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Garmin International Inc.

CONTACT: Ted Gartner of Garmin International Inc., +1-913-397-8200,
media.relations@garmin.com

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

Bookham Third Quarter Fiscal Year 2008 Financial Results Represent Strong Year-Over-Year Improvement

SAN JOSE, Calif., April 28 /PRNewswire-FirstCall/ -- Bookham, Inc. , a leading provider of optical components, modules and subsystems, today announced financial results for its third quarter of fiscal year 2008, ended March 29, 2008.

Third Quarter Fiscal 2008 GAAP Results

Revenue for the third quarter of fiscal 2008 was $59.7 million, an increase of 33 percent from $45.0 million in the third quarter of fiscal 2007 and 1 percent over the second quarter of fiscal 2008.

Gross margin in the third fiscal quarter was 22 percent, up 12 percentage points from 10 percent in the same quarter last year and down 1 percentage point from last quarter. Third quarter fiscal 2008 net loss of $5.4 million, or a net loss of $0.05 per share, compares with a net loss of $24.3 million, or a net loss of $0.35 per share, in the third quarter last year, and a net loss of $5.2 million, or a net loss of $0.06 per share, last quarter.

Cash, cash equivalents, short term investments and restricted cash at the end of March 2008 were $54.7 million, compared with $64.7 million at the end of the December 2007.

Third Quarter Fiscal 2008 Non-GAAP Results

Adjusted EBITDA for the third fiscal quarter was negative $1.1 million, an improvement of approximately $13.0 million when compared with negative Adjusted EBITDA of $14.1 million in the third quarter of fiscal 2007. Adjusted EBITDA in the second quarter of fiscal 2008 was positive $0.3 million.

Non-GAAP gross margin of 23 percent, which excludes stock compensation of $380,000, represents an increase of 12 percentage points from 11 percent in the third quarter of fiscal 2007. Non-GAAP gross margin last quarter was 24 percent.

Third quarter fiscal 2008 non-GAAP net loss of $3.4 million, or $0.03 per share, compares with a non-GAAP net loss of $18.7 million, or net loss of $0.27 per share, in the third quarter of fiscal 2007 and a non-GAAP net loss of $1.1 million, or a net loss of $0.01 per share, in the prior quarter. A reconciliation table of non-GAAP measures to the most comparable GAAP measures is included in the financial tables section of this release and further discussion of these measures is also included later in this release.

Non-cash stock and option-based compensation for the third quarters of fiscal 2008 and fiscal 2007, and the second quarter of fiscal 2008, were $1.2 million, $1.3 million and $2.7 million, respectively. Included in the second quarter fiscal 2008 results were $1.5 million of expense related to performance based vesting of stock.

"The year-over-year financial improvement is very significant and the result of the initiatives implemented last year to increase revenue and lower costs. Increased revenue came mostly from strategic products that are important to our long-term success. These include tunable products, 980nm pumps, and high power lasers. Also, the cost reduction measures we put in place have yielded approximately $9 million in quarterly infrastructure savings from the December 2006 quarter levels and have reduced product costs," said Alain Couder, president and CEO of Bookham Inc. "Our outlook for the remainder of calendar 2008 is positive. We continue to see increasing demand for our newer telecom products, and we are reducing our non-telecom product manufacturing overheads through leveraging our low-cost Shenzhen manufacturing facility. These cost improvements should translate into better margin results. We believe that continued revenue growth, margin improvement on our new products, and overhead cost management during the second half of 2008 will result in a transition to positive cash flow from operations before the end of the calendar year."

Fourth Quarter Fiscal 2008 Outlook

For the fourth quarter of fiscal 2008, ending June 28, 2008, excluding restructuring and other non-recurring charges, the Company expects:

-- Revenue in the range of $58 million to $63 million -- Non-GAAP gross margin between 21 percent and 25 percent -- Adjusted EBITDA of negative $3 million to positive $1 million

The forecasts provided are based on current expectations. These statements are forward looking, and actual results may differ materially. Please see the Safe Harbor statement in this release for a description of certain important risk factors that could cause actual results to differ, and refer to Bookham's most recent annual and quarterly reports on file with the Securities and Exchange Commission (SEC) for a more complete description of the risks. Furthermore, our outlook excludes items that may be required by GAAP such as restructuring and related costs, acquisition or disposal related costs, expenses or income from certain legal actions, settlements and related costs outside our normal course of business, impairments of goodwill and other long-lived assets for which the likelihood and amounts are not determinable at this time, extraordinary items, as well as the expensing of stock options and restricted stock grants under SFAS 123R.

Conference Call

Bookham is scheduled to hold a conference call to discuss its third quarter fiscal 2008 financial results today at 4:30 p.m. ET/1:30 p.m. PT. To access the call, dial (480) 629-9039. A live webcast of the call will also be available in the Investors section of the Company's website at http://www.bookham.com/. A replay of the conference call will be available through May 5, 2008. To access the replay, dial (303) 590-3030. The passcode for the replay is 3866805.

About Bookham

Bookham, Inc. is a leading provider of high performance optical products, spanning from components to advanced subsystems. The company designs and manufactures a broad range of solutions tailored for the telecommunications optical infrastructure and selected markets, including industrial, life sciences, semiconductor, and scientific. The Company utilizes proprietary core technologies and a vertically integrated manufacturing organization to provide its customers with cost-effective and innovative devices, as well as flexible, scalable product delivery. Bookham is a global company, headquartered in San Jose, Calif., with leading edge chip fabrication facilities in the UK and Switzerland, and manufacturing sites in the USA and China.

Bookham and all other Bookham, Inc. product names and slogans are trademarks or registered trademarks of Bookham, Inc. in the USA or other countries.

Safe Harbor Statement

Any statements in this announcement about the future expectations, plans or prospects of Bookham, including statements containing the words "believe," "plan," "anticipate," "expect," "estimate," "will," "should," "ongoing," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including factors described in Bookham's most recent annual report on Form 10-K and most recent quarterly report on Form 10-Q. These include continued demand for optical components, changes in inventory and product mix, no further degradation in the exchange rate of the United States dollar relative to U.K, China and Switzerland currencies, and the continued ability of the Company to maintain requisite financial resources. The forward-looking statements included in this announcement represent Bookham's view as of the date of this release. Bookham anticipates that subsequent events and developments may cause Bookham's views to change. However, Bookham disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document. Those forward-looking statements should not be relied upon as representing Bookham's views as of any date subsequent to the date of this announcement.

Non-GAAP Financial Measures

To provide investors with the opportunity to use the same financial metrics as management to evaluate the Company's performance, the Company provides certain supplemental non-GAAP financial measures, including: 1) non-GAAP net loss excluding non-cash stock and option-based compensation, charges such as impairment, and restructuring, and expenses or income from certain legal actions, settlements and related costs outside the ordinary course of business; 2) a measure of Adjusted EBITDA, that also excludes these charges, plus the impact of taxes, net interest income/expense, depreciation and amortization, and net foreign currency translation gain/loss; and 3) non-GAAP operating loss that excludes amortization of intangible assets, non-cash stock and option-based compensation, charges such as impairment and restructuring, and expenses or income from certain legal actions, settlements and related costs outside the normal course of business; to provide investors with the opportunity to use the same financial metrics as management to evaluate the Company's performance. Bookham also believes these non-GAAP measures enhance the comparability and transparency of results for the period. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results.

Non-GAAP Net Loss

Non-GAAP net loss is calculated as net loss excluding the impact of restructuring and severance costs, non-cash compensation related to stock and options granted to employees and directors, impairment charges and certain other one-time charges and credits specifically identified where applicable. The Company evaluates its performance using, among other things, non-GAAP net loss in evaluating the Company's historical and prospective operating financial performance, as well as its operating performance relative to its competitors. Specifically, management uses this non-GAAP measure to further understand the Company's "core operating performance." The Company believes its "core operating performance" represents the Company's on-going performance in the ordinary course of its operations. Accordingly, management excludes from "core operating performance" those items, such as impairment charges, restructuring and severance programs and costs relating to specific major projects which are non-recurring, expenses or income from certain legal actions, settlements and related costs, as well as non-cash compensation related to stock and options. Management does not believe these items are reflective of the Company's ongoing operations and accordingly excludes those items from non-GAAP net loss.

The Company believes that providing non-GAAP net loss to its investors, in addition to corresponding income statement measures, provides investors the benefit of viewing the Company's performance using the same financial metrics that the management team uses in making many key decisions and understanding how the core business and its results of operations may look in the future. The Company further believes that providing this information allows the Company's investors greater transparency and a better understanding of the Company's core financial performance. Additionally, non-GAAP net loss has historically been presented by the Company as a complement to net loss, thus increasing the consistency and comparability of the Company's earnings releases. The non-GAAP adjustments, and the basis for excluding them, are discussed further below.

A pro-forma subtotal within the Company's determination of non-GAAP net loss specifically excludes from the Company's net loss the non-cash compensation related to stock and options granted to employees and directors under SFAS 123R - Share-Based Payment. Management uses this non-GAAP information to compare this specific non-cash expense with similar expenses of competitors and other companies.

Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. Non-GAAP net loss should not be considered in isolation from or as a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP net loss used by other companies. The GAAP measure most directly comparable to non-GAAP net loss is net loss. A reconciliation of non-GAAP net loss to net loss is set forth in the schedules below.

Adjusted EBITDA

Adjusted EBITDA is calculated as net loss excluding the impact of taxes, net interest income/expense, depreciation and amortization, net foreign currency translation gains/losses, as well as restructuring and severance, impairment, non-cash compensation related to stock and options, expenses or income from certain legal actions, settlements and related costs outside our normal course of business, and certain other one-time charges and credits specifically identified where applicable. The Company uses Adjusted EBITDA in evaluating the Company's historical and prospective cash usage, as well as its cash usage relative to its competitors. Specifically, management uses this non-GAAP measure to further understand and analyze the cash used in/generated from the Company's core operations. The Company believes that by excluding these non-cash and non-recurring charges, more accurate expectations of our future cash needs can be assessed in addition to providing a better understanding of the actual cash used in or generated from core operations for the periods presented. Management does not believe the excluded items are reflective of the Company's ongoing operations and accordingly excludes those items from Adjusted EBITDA. The Company believes that providing Adjusted EBITDA to its investors, in addition to corresponding GAAP cash flow measures, provides investors the benefit of viewing the Company's performance using the same financial metrics that the management team uses in making many key decisions that impact the Company's cash position and understanding how the cash position may look in the future. The Company further believes that providing this information allows the Company's investors greater transparency and a better understanding of the Company's core cash position.

Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles (GAAP) in the United States. Adjusted EBITDA should not be considered in isolation from or as a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP measures used by other companies. The GAAP measure most directly comparable to Adjusted EBITDA is net loss. A reconciliation of Adjusted EBITDA to GAAP net loss is set forth in the financial schedules section below.

Non-GAAP Operating Loss

Non-GAAP operating loss is calculated as operating loss excluding the impact of amortization of intangible assets in connection with the purchase accounting for its acquisition of numerous companies and businesses prior to its fiscal year ended July 3, 2004, restructuring and severance costs, non-cash compensation related to stock and options granted to employees and directors, impairment charges, and certain other one-time charges and credits specifically identified where applicable. The Company evaluates its performance using, among other things, non-GAAP operating loss in evaluating the Company's historical and prospective operating financial performance, as well as its operating performance relative to its competitors. Specifically, management uses this non-GAAP measure to further understand the Company's "core operating performance." The Company believes its "core operating performance" represents the Company's on-going performance in the ordinary course of its operations. Accordingly, management excludes from "core operating performance" those items such as restructuring and severance programs and costs relating to specific major projects which are non-recurring, expenses or income from certain legal actions, settlements and related costs outside our normal course of business, impairment charges, as well as non-cash compensation related to stock and options. Management does not believe these items are reflective of the Company's ongoing operations and accordingly excludes those items from non-GAAP operating loss.

The Company believes that providing non-GAAP operating loss to its investors, in addition to corresponding income statement measures, provides investors the benefit of viewing the Company's performance using the same financial metrics that the management team uses in making many key decisions and understanding how the core business and its results of operations may look in the future. The Company further believes that providing this information allows the Company's investors greater transparency and a better understanding of the Company's core financial performance. The non-GAAP adjustments, and the basis for excluding them, are discussed further below.

A pro-forma subtotal within the Company's determination of non-GAAP operating loss specifically excludes from the Company's operating loss the non-cash compensation related to stock and options granted to employees and directors under SFAS 123R - Share-Based Payment. Management uses this non-GAAP information to compare this specific non-cash expense with similar expenses of competitors and other companies.

Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. Non-GAAP net loss should not be considered in isolation from or as a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP operating loss used by other companies. The GAAP measure most directly comparable to non-GAAP operating loss is net loss. A reconciliation of non-GAAP net loss to net loss is set forth in the schedules below.

Furthermore, similar non-GAAP measures have historically been presented by the Company as a complement to its GAAP presentation. The non-GAAP adjustments, and the basis for excluding them, are discussed further below.

Restructuring and Severance Activities

The Company has incurred expenses, which are included in its GAAP statement of operations, primarily due to the write-down of certain property and equipment that has been identified for disposal, workforce related charges such as retention bonuses, severance, benefits and employee relocation costs related to formal restructuring plans, termination costs and building costs for facilities not required for ongoing operations, and costs related to the relocation of certain facilities and equipment from buildings which the Company has disposed of or plans to dispose of. The Company excludes these items, for the purposes of calculating non-GAAP net loss, Adjusted EBITDA and non-GAAP operating loss, when it evaluates the continuing operational performance of the Company. The Company does not believe that these items reflect expected future operating expenses nor does it believe that they provide a meaningful evaluation of current versus past core operational performance.

Certain Legal Actions, Settlement and Related Costs

In the current quarter, the Company has recorded certain expenses related to costs incurred in a legal action against a third party in connection with land sold by the Company in 2006, and in prior periods expenses related to the legal costs and settlement of a different on-going litigation, net of insurance recoveries, both of which are included in its GAAP statement of operations. The Company excludes these items for the purposes of calculating non-GAAP net loss, Adjusted EBITDA and non-GAAP operating loss when it evaluates the continuing performance of the Company. The Company does not believe that these items reflect expected future expenses nor does it believe they provide a meaningful evaluation of current versus past core operational performance.

Amortization of Intangible Assets

In connection with the purchase accounting for its acquisition of numerous companies and businesses prior to its July 3, 2004 fiscal year end, the Company recorded intangible assets which are being amortized to operating expenses over their useful lives. The Company excludes the amortization of intangible assets for the purposes of calculating non-GAAP operating loss and Adjusted EBITDA when it evaluates the continuing core operational performance of the Company. The Company believes that these items do not reflect expected future operating expenses nor does the Company believe that they provide a meaningful evaluation of current versus past core operational performance.

Impairment of Goodwill, Intangibles and other Long-Lived Assets

GAAP requires the Company to compare the fair value of its long-lived assets to their carrying amount on the Company's financial statements. If the carrying amount is greater than its fair value, then an impairment must be recognized in the GAAP presentation, and included as a charge to earnings in the statement of operations. In particular this is the case regarding businesses acquired by the Company. If the carrying amount of the acquired businesses, including recorded goodwill, is greater than its fair value, then an impairment of the goodwill must be recognized in the GAAP presentation, and included as a charge to earnings in the Company's statement of operations. The Company excludes the impairment of long-lived assets, for the purposes of calculating non-GAAP net loss, Adjusted EBITDA and non-GAAP operating loss, when it evaluates the continuing core operational performance of the Company. The Company believes that these items do not reflect expected future operating expenses nor does the Company believe that they provide a meaningful evaluation of current versus past core operational performance.

Foreign Currency Translation Gains/Losses

The Company records gains and losses related to the translation of intercompany balances denominated in currencies other than the functional currencies of the Company's local legal entities, the translation of certain other ending balance sheet accounts denominated in currencies other than the function currencies of the Company's local legal entities, and contracts entered into to mitigate the exposure to these translation gains and losses. The Company excludes this item, for the purposes of calculating Adjusted EBITDA, when it evaluates the cash usage and prospective cash usage of the Company. Management does not believe this excluded item is reflective of its ongoing operations.

Non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States of America. Non-GAAP measures should not be considered in isolation from or as a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP measures used by other companies. The GAAP measure most directly comparable to non- GAAP net loss is net loss. The GAAP measure most directly comparable to Adjusted EBITDA is net loss. The GAAP measure most directly comparable to non-GAAP operating loss is operating loss. A reconciliation of each of these non-GAAP financial measures to GAAP information is set forth below.

BOOKHAM, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) March 29, December 29, 2008 2007 (unaudited) (unaudited) ASSETS Current assets: Cash and cash equivalents $39,363 $63,002 Short-term investments 14,066 - Restricted cash 1,320 1,657 Accounts receivable, net 45,620 40,235 Inventories 58,615 58,447 Prepaid expenses and other current assets 4,288 4,531 Total current assets 163,272 167,872 Goodwill 7,881 7,881 Other intangible assets, net 8,179 8,556 Property and equipment, net 34,133 34,082 Other assets 338 152 Total assets $213,803 $218,543 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $20,453 $24,731 Bank loan payable 2,000 - Accrued expenses and other liabilities 20,289 21,246 Total current liabilities 42,742 45,977 Other long-term liabilities 1,411 1,511 Deferred gain on sale leaseback 19,985 20,072 Total liabilities 64,138 67,560 Stockholders' equity: Common stock 1,007 999 Additional paid-in capital 1,160,491 1,159,481 Accumulated other comprehensive income 45,847 42,783 Accumulated deficit (1,057,680) (1,052,280) Total stockholders' equity 149,665 150,983 Total liabilities and stockholders' equity $213,803 $218,543 BOOKHAM, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended March 29, December 29, March 31, 2008 2007 2007 Net revenues $59,703 $58,956 $44,989 Cost of revenues 46,320 45,522 40,707 Gross profit 13,383 13,434 4,282 Operating expenses: Research and development 7,570 8,168 10,853 Selling, general and administrative 11,711 12,162 12,043 Amortization of intangibles 667 1,353 2,170 Restructuring and severance charges 672 562 4,273 Certain legal actions, settlements and related costs 54 877 - Gain on sale of property and equipment and other assets (596) (1,481) 6 Total operating expenses 20,078 21,641 29,345 Operating loss (6,695) (8,207) (25,063) Other income/(expense), net 1,312 2,973 777 Loss before income taxes (5,383) (5,234) (24,286) Income tax (provision)/benefit (17) 47 (37) Net loss $(5,400) $(5,187) $(24,323) Basic and diluted loss per share: Net loss per share $(0.05) $(0.06) $(0.35) Weighted average shares of common stock outstanding (basic and diluted) 99,316 90,963 70,077 Stock based compensation included in the following: Cost of revenues $380 $708 $478 Research and development 243 643 260 Selling, general and administrative 611 1,332 557 Total $1,234 $2,683 $1,295 BOOKHAM, INC. RECONCILIATION OF GAAP NET LOSS TO CERTAIN NON-GAAP MEASURES (in thousands, except per share amounts) (unaudited) Three Months Ended March 29, 2008 Adjusted Operating Net Loss EBITDA Loss GAAP net loss $(5,400) $(5,400) n/a GAAP operating loss n/a n/a $(6,695) Stock compensation 1,234 1,234 1,234 Pro forma (4,166) (4,166) (5,461) Adjustments: Depreciation expense - 2,966 - Amortization expense - 667 667 Income tax provision, net 17 17 - Interest income, net - (305) - Foreign currency (gain)/losses, net - (995) - Restructuring and severance charges 672 672 672 Certain legal actions, settlements and related costs 54 54 54 Non-GAAP measures $(3,423) $(1,090) $(4,068) Non-GAAP measures per share (basic and diluted) $(0.03) $(0.01) $(0.04) Weighted average shares of common stock outstanding (basic and diluted) 99,316 99,316 99,316 Three Months Ended December 29, 2007 Adjusted Operating Net Loss EBITDA Loss GAAP net loss $(5,187) $(5,187) n/a GAAP operating loss n/a n/a $(8,207) Stock compensation 2,683 2,683 2,683 Pro forma (2,504) (2,504) (5,524) Adjustments: Depreciation expense - 3,034 - Amortization expense - 1,353 1,353 Income tax provision, net (47) (47) - Interest income, net - (214) - Foreign currency (gain)/losses, net - (2,732) - Restructuring and severance charges 562 562 562 Certain legal actions, settlements and related costs 877 877 877 Non-GAAP measures $(1,112) $329 $(2,732) Non-GAAP measures per share (basic and diluted) $(0.01) $0.00 $(0.03) Weighted average shares of common stock outstanding (basic and diluted) 90,963 90,963 90,963

Bookham, Inc.

CONTACT: Jim Fanucchi of Summit IR Group Inc., +1-408-404-5400,
ir@bookham.com, for Bookham, Inc.; or Steve Abely, Chief Financial Officer of
Bookham, Inc., +1-408-383-1400, ir@bookham.com

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

FCC Subsidy Cap a Victory for Consumers and Future of Universal Service ProgramVerizon's Tauke Says FCC Majority Is Acting Responsibly in First Step Toward Long-Term Reform

WASHINGTON, April 28 /PRNewswire/ -- The Federal Communications Commission has garnered the critical third vote needed to cap skyrocketing Universal Service Fund subsidies paid to wireless companies -- a good result for consumers and the likely prelude to broad reform of the nation's telecommunications subsidy system.

In a statement Monday (April 28), Commissioner Robert McDowell joined Chairman Kevin Martin and Commissioner Deborah Tate in support of the cap, creating a majority vote in favor of the action.

McDowell's announcement follows the agency's March 14 announcement that the federal government will collect even more this quarter to pay for Universal Service Fund programs, a move that results in a nearly 11 percent increase in the surcharge consumers pay on their monthly phone bills. The increased cost of the fund is due in large part to the growth in subsidy payments to Competitive Eligible Telecommunications Carriers (almost all of which are wireless companies). Those payments grew from $1 million in 2000 to over $1 billion in 2007, a one thousand-fold increase.

"Consumers will be happy to hear the FCC is taking control of the fund's growth," said Tom Tauke, Verizon executive vice president of public affairs, policy and communications. "This is a responsible first step. The next step is comprehensive reform of the universal service high-cost fund to make it more efficient and useful for consumers who need it."

Verizon supports reforms of how the funds for the high-cost program are collected and dispersed. The company filed a "reverse auction," or competitive bidding, proposal with the Federal-State Joint Board and the commission last year.

"This proposal meets the needs of rural consumers of high-quality services at an affordable price," Tauke said in March 1, 2007, testimony to the U.S. Senate Committee on Commerce, Science and Transportation. "[Verizon's proposal] stabilizes the fund, encourages a competitive and innovative marketplace, and promotes efficiency so consumers are treated fairly when they pick up the tab for universal service support."

Verizon also supports reform of the way USF contributions are collected by replacing today's complicated revenue system with a methodology based on telephone numbers.

Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 67 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employed a diverse workforce of approximately 232,000 as of the end of the first quarter 2008 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.

VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.

Verizon

CONTACT: David Fish, +1-202-515-2514, david.m.fish@verizon.com

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

Company News On-Call: http://www.prnewswire.com/comp/618232.html

Dr. Hans Liebler Joins SCM Microsystems' Board of Directors

FREMONT, Calif., April 28 /PRNewswire-FirstCall/ -- SCM Microsystems, Inc. , a leading provider of solutions that open the Digital World, today announced the appointment of Dr. Hans Liebler to its Board of Directors, effective June 1, 2008.

Liebler, 39, brings more than a decade of senior management experience in banking, consulting and direct investing to SCM's board. Since July 2006, he has been a general partner of Lincoln Vale European Partners, an investment management company he co-founded that is focused on strategic long-term investments in European small- and mid-cap companies, and which is currently the largest single stockholder of the Company. From September 2002 to July 2006, Dr. Liebler managed an investment fund he had conceived for Allianz AG, applying a private equity approach to European publicly listed companies. Dr. Liebler started his career at consulting company McKinsey & Company in Madrid and New York. He subsequently co-led McKinsey's German Corporate Finance practice during a time of expansion, leading many major European merger and acquisition projects and IPOs. Since 1998, Dr. Liebler has also served as an adjunct professor at the European Business School in Germany. He holds a Master's degree in Business Administration from the University of Munich and a Ph.D in Finance from the University of St. Gallen in Switzerland.

"We are very pleased that Dr. Liebler will join the Board of SCM Microsystems. His financial expertise and experience as a senior investment professional are valuable assets for the Company at this stage of its development and growth," said Werner Karl Koepf, Chairman of the Board.

"SCM Microsystems has a strong brand and reputation, a proven ability to innovate and an exciting vision for the security market," said Dr. Hans Liebler. "I look forward to working closely with SCM's management team and directors to help advise the Company on how best to leverage its strengths to maximize value in the marketplace and with shareholders."

When his appointment is effective in June, Dr. Liebler will become the seventh member of SCM Microsystems' Board of Directors. For further information about SCM Microsystems, please visit http://www.scmmicro.com/.

About SCM Microsystems

SCM Microsystems is a leading provider of solutions that open the Digital World by enabling people to conveniently access digital content and services. The company develops, markets and sells the industry's broadest range of contact and contactless smart card reader technology for secure PC, payment systems, network and physical access, and digital media readers for transfer of digital content to OEM customers in the government, financial, enterprise, consumer electronics and photographic equipment markets worldwide. Global headquarters are in Ismaning, Germany. For additional information, visit the SCM Microsystems web site at http://www.scmmicro.com/.

Note: All trademarks are the property of their respective owners.

SCM Microsystems, Inc.

CONTACT: Annika Oelsner, +49 89 9595-5220, aoelsner@scmmicro.de, or
Darby Dye, +1-510-249-4883, ddye@scmmicro.com, both of SCM Microsystems, Inc.

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

Sensata Technologies B.V. to Announce First Quarter 2008 Results on April 30, 2008

ALMELO, The Netherlands, April 28 /PRNewswire-FirstCall/ -- Sensata Technologies B.V. (the "Company") will release the financial results for its first quarter 2008 on Wednesday, April 30, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070227/CLTU192LOGO )

The Company will conduct a conference call on the same day at 10:30a.m. Eastern Daylight Time to discuss the results. Participating on the conference call will be Thomas Wroe, Chairman and Chief Executive Officer and Jeffrey Cote, Executive Vice President and Chief Financial Officer.

The U.S. dial-in number for the call is 888-208-1617 and the non-U.S. number is 913-312-1234. The passcode number is 2400898. To help ensure that the conference begins in a timely manner, please dial in 10 minutes prior to the start of the call.

For those unable to participate in the conference call, a replay will be available for two weeks beginning on April 30, 2008 through Wednesday, May 14, 2008. To access the replay, the U.S. dial-in number is 888-203-1112 and the non-U.S. number is 719-457-0820. The replay passcode number is 2400898. The replay will also be posted on the Company's website http://www.sensata.com/ for one year through April 30, 2009.

About Sensata Technologies B.V.

Sensata Technologies B.V., formerly the Sensors & Controls business of Texas Instruments Incorporated, was purchased by Bain Capital, LLC, a leading global private investment firm, on April 27, 2006.

The Company is a leading designer and manufacturer of sensors and controls. Sensata Technologies has business and product development centers in Massachusetts, Maryland, Maine, the United Kingdom, the Netherlands and Japan; and manufacturing operations in Brazil, China, Korea, Malaysia, Mexico and the Dominican Republic, as well as sales offices around the world. Sensata currently employs approximately 9,000 people worldwide.

The Company designs, manufactures, and markets a wide range of highly engineered electromechanical and electronic sensors and controls customized for a number of applications in the automotive, commercial (climate and appliance) and industrial markets. The Company sells directly to a diverse group of leading automotive, industrial and commercial original equipment manufacturers (OEM) and to suppliers of integrated systems to OEMs, while also serving distributors to extend its global reach. Sensata manufactures over 20,000 different products and ships over one billion units each year.

Sensata Technologies B.V. offices are located at Kolthofsingel 8, 7602 EM, Almelo, the Netherlands. Further information can be found on the Company's web-site: http://www.sensata.com/.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070227/CLTU192LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Sensata Technologies B.V.

CONTACT: Linda Megathlin of Sensata Technologies B.V., +1-508-236-1761,
lmegathlin@sensata.com

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

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