SAIC Awarded $47 Million Subcontract to Support the Distributed Common Ground System - ArmyCompany to Provide Intelligence, Embedded Mentor and On-site Technical Services

SAN DIEGO and MCLEAN, Va., May 15 /PRNewswire-FirstCall/ -- Science Applications International Corporation today announced it has been awarded a subcontract by Sensor Technologies, Inc. to provide advanced analytical and technical support on a task order for the Distributed Common Ground System - Army (DCGS-A). The task order, awarded under the Army's Strategic Services Sourcing (S3) contract, has a two-year period of performance. SAIC's subcontract has a value of more than $47 million.

DCGS-A provides the U.S. Army with fully integrated and timely intelligence on the battlefield. SAIC will continue to support current DCGS-A system users while integrating new tactics, techniques and procedures and processes to help improve customer capabilities. Throughout the task order, SAIC will provide embedded mentor services to Army and DoD forces around the globe.

"SAIC has done work supporting DCGS-A for the past 2 years -- developing solutions, assisting in transformation efforts, and helping meet demanding mission requirements," said John Thomas, SAIC senior vice president and business unit general manager. "We look forward to continuing to deliver innovative technology solutions to DCGS-A that help provide actionable intelligence to the Warfighter."

SAIC has previously provided system development and analytical support for the Army under a different contract vehicle.

About SAIC

SAIC is a FORTUNE 500(R) scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company's approximately 44,000 employees serve customers in the Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. SAIC had annual revenues of $8.9 billion for its fiscal year ended January 31, 2008. For more information, visit http://www.saic.com/.

SAIC: From Science to Solutions(R)

Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2008, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

Contact: Melissa Koskovich Laura Luke (703) 676-6762 (703) 676-6533 Melissa.l.koskovich@saic.com laura.luke@saic.com

SAIC

CONTACT: Melissa Koskovich, +1-703-676-6762,
Melissa.l.koskovich@saic.com, or Laura Luke, +1-703-676-6533,
laura.luke@saic.com, both of SAIC

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

Telanetix Reports First Quarter 2008 Results- Grows total revenues to $7.7 million, up from $7.4 million in the fourth quarter 2007 -- Reports gross margin of 44.8% -- Provides second quarter 2008 revenue guidance of approximately $8.0 million -

SAN DIEGO, May 15 /PRNewswire-FirstCall/ -- Telanetix, Inc. (OTC BB: TNXI) a leading IP solutions provider offering telepresence and VoIP services to the SMB and SME markets, reported financial results for its first quarter ended March 31, 2008.

Financial Highlights for the First Quarter of 2008 Compared to Fourth Quarter of 2007

-- Revenue was $7.7 million, up from $7.4 million. -- Video revenue was $1.4 million, up from $1.2 million. -- Voice and network revenue was $6.3 million, up from $6.2 million. -- Gross profit was $3.4 million, or 44.8% of revenue, compared to $3.6 million, or 47.8% of revenue. -- Net loss was $9.2 million including Series A preferred stock dividends and accretion of $2.6 million, expense related to fair market valuation of $2.2 million and interest expense of $1.3 million. This compares to $1.4 million including Series A preferred stock dividends and accretion of $186,000, a credit related to fair market valuation of $2.4 million and interest expense of $1.3 million. -- Net loss per share was $0.39, compared to $0.06. -- At March 31, 2008, the cash and cash equivalents balance was $3.8 million, equal to the December 31, 2007 balance.

"We are very excited about 2008," said Doug Johnson, Telanetix CEO. "Our first quarter results are solid with sequential growth in video and voice and network businesses. Telanetix is in an incredible position out in front of a communications market. I believe we are going to change how business gets done. Both video and voice -- a natural pairing -- are truly high-potential markets. Our offer is compelling to the SME and SMB customer, and the market opportunity is vast. Through increased effective indirect sales channels and integrated operations, we expect to increase revenue and gross margin while we simultaneously reduce our operating costs. During the second quarter, we expect to continue revenue growth and reach approximately $8.0 million."

Recent Corporate Highlights -- Integrated video and voice and network divisions into the Bellevue, WA headquarters. -- Promoted Doug Johnson to Chief Executive Officer, while Tom Szabo remains as Chairman. -- Hired Paul Quinn as Chief Financial Officer. -- Entered into an agreement with CallSource(R) to provide $2.5 million of business phone service connectivity over a two-year term. -- Renewed Who's Calling contract to provide $4.0 million of services over two years. -- Secured Digital Presence(TM) accounts in financial services with national money management firm and medical industries with a New York Metropolitan Area hospital. -- Opened a new telepresence demonstration center in Alexandria, VA to gain additional traction in the Mid-Atlantic region. -- Launched Digital Phone Service, a complete VoIP solution aimed at simplifying the process for SMBs switching to VoIP-based phone system, specifically businesses with 2 to 5 employees, which account for 70% of the more than 6 million SMBs in the United States. -- Expanded distribution in Europe with Imago Group, PLC and in the U.S. with six major manufacturer representative firms: Anew Communications Technology, DMJ Technologies, Peter E. Schmitt Company, Omnivue, Mizzen Marketing and Nu-Way Technologies. Conference Call Information

Management will conduct a conference call at 8:00 am PT/11:00 am ET on May 16, 2008 to discuss the company's first quarter 2008 and second quarter 2008 outlook. To access the call in the United States, dial 888-713-4217; to dial-in internationally, dial 617-213-4869 and enter passcode 65733347. The call will also be broadcast live over the Internet and will be available for replay for 90 days at http://www.telanetix.com/. A telephone replay will be available two hours after the call through May 20, 2008 by dialing 888-286-8010 for domestic callers and 617-801-6888 for international callers. All parties will need the following replay pass code 24853243.

About Telanetix, Inc.

Telanetix is a leading IP solutions provider offering telepresence and advanced communication services to the SMB and SME markets. By leveraging on ubiquitous network infrastructures, Telanetix's solutions meet the real-world communications demands of its customers. The company's core technologies include a Telepresence offering, called Digital Presence(TM), designed to create fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment; and IP enabled enhanced services that give companies flexible calling solutions at a fraction of the price of traditional telecom providers. Additional information can be found at the Telanetix corporate website, http://www.telanetix.com/.

Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The companies undertake no obligation to publicly release statements made to reflect events or circumstances after the date hereof.

TELANETIX, INC. Condensed Consolidated Balance Sheets March 31, December 31, 2008 2007 (Unaudited) ASSETS Current assets Cash $ 3,796,820 $ 3,779,821 Accounts receivable, net 2,234,280 2,406,885 Inventory 254,472 230,590 Prepaid expenses and other current assets 586,878 455,577 Total current assets 6,872,450 6,872,873 Property and equipment, net 5,742,032 5,844,421 Goodwill 6,934,304 6,934,304 Purchased intangibles, net 20,368,333 20,953,333 Other assets 916,733 738,024 Total assets $ 40,833,852 $ 41,342,955 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,908,250 $ 1,897,165 Accrued liabilities 2,688,978 2,618,305 Line of credit - 503,590 Deferred revenue 838,700 1,018,515 Deferred compensation, current portion 445,389 445,389 Current portion of capital lease obligations 1,008,824 1,200,989 Convertible debentures, current portion 3,922,719 3,670,734 Warrant and beneficial conversion feature liabilities 13,739,530 9,103,923 Total current liabilities 25,552,390 20,458,610 Non-current liabilities Capital lease obligations, net of current portion 1,327,880 1,433,694 Deferred revenue 123,607 69,700 Convertible debentures, less current portion 804,865 1,003,178 Total non-current liabilities 2,256,352 2,506,572 Total liabilities 27,808,742 22,965,182 Stockholders' equity Preferred stock, $.0001; Authorized: 10,000,000; Issued and outstanding: 13,000 at March 31, 2008 and December 31, 2007 1 1 Common stock, $.0001 par value; Authorized: 200,000,000 shares; Issued and outstanding: 23,609,507 at March 31, 2008 and 23,079,576 at December 31, 2007 2,361 2,308 Additional paid in capital 40,269,358 39,011,923 Warrants 10,000 10,000 Accumulated deficit (27,256,610) (20,646,459) Total stockholders' equity 13,025,110 18,377,773 Total liabilities and stockholders' equity $ 40,833,852 $ 41,342,955 TELANETIX, INC. Condensed Consolidated Statements of Operations Three months ended March 31, 2008 2007 (Restated) Revenues Product revenues $ 1,252,255 $ 419,518 Service revenues 6,404,506 42,750 Total revenues 7,656,761 462,268 Cost of revenues Cost of product revenues 1,138,961 102,051 Cost of service revenues 3,083,025 39,654 Total cost of revenues 4,221,986 141,705 Gross profit 3,434,775 320,563 Operating expenses Selling, general and administrative 4,537,155 1,248,007 Research, development and engineering 1,262,805 196,708 Depreciation 193,419 12,974 Amortization of purchased intangibles 585,000 - Total operating expenses 6,578,379 1,457,689 Operating loss (3,143,604) (1,137,126) Other income (expense) Interest income 7,540 7,540 Interest expense (1,265,595) (503,981) Change in fair market value of warrant and beneficial conversion feature liabilities (2,208,492) (3,922,196) Total other income (expense) (3,466,547) (4,418,637) Net loss (6,610,151) (5,555,763) Series A preferred stock dividends and accretion (2,554,242) - Net loss applicable to common stockholders $ (9,164,393) $ (5,555,763) Net loss per share - basic and diluted $ (0.39) $ (0.36) Weighted average shares outstanding - basic and diluted 23,237,715 15,575,640 TELANETIX, INC. Supplemental Table of Revenue Breakdown Three months ended March 31, 2008 2007 (Restated) Revenues Voice and network solutions revenues $ 6,292,826 $ - Video solutions revenues 1,363,935 462,268 Total revenues 7,656,761 462,268

Telanetix, Inc.

CONTACT: Investor Relations, Jim Blackman of PR Financial Marketing,
+1-713-256-0369, jim@prfmonline.com; or Media, Todd Barrish of Dukas PR,
+1-212-704-7385, todd@dukaspr.com, both for Telanetix, Inc.

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

Spreadtrum Communications, Inc. Announces First Quarter 2008 Results

First Quarter 2008 Financial Summary: -- Total revenue increased 51% year-over-year to US$39.5 million as baseband revenue grew 73% year-over-year. -- Diluted earnings per American Depositary Share (ADS) was US$0.06, up from US$0.05 in 1Q07. -- Gross margin in 1Q08 was 44.9% compared to 42.9% in 1Q07 and 45.5% in 4Q07. -- Operating margin in 1Q08 was 5.1% compared to 5.0% in 1Q07 and 17.6% in 4Q07. Excluding share-based compensation and amortization of intangibles from the Quorum acquisition, non-GAAP operating margin in 1Q08 was 10.8%. -- GAAP net income increased 37% year-over-year to US$2.8 million, while non-GAAP net income was up 55% year-over-year. Recent Business Highlights: -- Spreadtrum completed its acquisition of Quorum Systems, and the integrated team has already won joint designs at handset makers, with a 30-40% attach rate goal by year end. -- Two of Spreadtrum's customers together received over 50% of the initial round of 60,000 TD-SCDMA handset orders from China Mobile in January. Two more rounds of handset orders are expected before the Olympics, and the second phase of the TD-SCDMA network has begun. -- Spreadtrum announced its first mobile TV chip, SC6600V, the industry's first demodulator/decoder chip for CMMB-based mobile TV, which has already started commercial broadcasting in Beijing, Shanghai, and Shenzhen. -- Spreadtrum signed a new partnership agreement with Wingtech to expand that relationship, including a modified SC6600W product. -- Spreadtrum will hold its second annual Technology Forum in Shanghai, June 17-18, to outline its roadmap and plans with its customers, partners, industry media, and investors.

SHANGHAI, China, May 15 /Xinhua-PRNewswire-FirstCall/ -- Spreadtrum Communications, Inc. (Nasdaq: SPRD; the ''Company''), one of China's leading wireless baseband chipset providers, today announced its first quarter 2008 financial results. Under accounting principles generally accepted in the United States of America (US GAAP), diluted earnings per ADS was US$0.06 in the first quarter of 2008 (1Q08), an increase of 20% from US$0.05 in the same period in 2007 (1Q07). Net income for 1Q08 was US$2.8 million, an increase of 37% from US$2.0 million in 1Q07.

US GAAP net income for 1Q08 included US$1.9 million of share-based compensation expense and US$0.4 million of amortization of intangibles from the Quorum acquisition. Excluding the impact of this share-based compensation expense and the amortization of intangibles from the Quorum acquisition, the Company's non-GAAP net income for 1Q08 would have been US$5.0 million, up 55% from US$3.2 million in 1Q07. Diluted non-GAAP earnings per ADS in 1Q08 was US$0.11, up from US$0.08 in 1Q07.

Commenting on the results, the Company's President and CEO, Dr. Ping Wu, said:

''We are pleased that we were able to achieve our financial guidance in light of several factors that made this a challenging first quarter. Traditionally, Q1 is a seasonally slower quarter for the cellphone market. This year the market also had to work down a surplus of inventory from Q4 and cope with the impact of a snowstorm that disrupted travel and consumer spending. We were able to use this slower environment to streamline our internal operations, improve our product mix and enhance our product cost structure, which we believe will have a positive impact on profits in the 2nd half of this year.

On the business side, we completed our purchase of Quorum Systems in January and are far along in the integration of its R&D team and products into the combined Company. The joint team has already had some early successes in getting Quorum's RF transceivers designed into our customers' products and given this traction we are targeting a 30-40% attach rate for our basebands with Quorum's transceivers by the end of the year. Quorum's current products include low cost, low power single chip CMOS based multi-band transceivers for the GSM, GPRS, EDGE, TD-SCDMA, and WCDMA markets. With this acquisition we have more design options and more complete solutions for our customers--from 2G to 3G, physical layer software to protocol and applications.

On the 3G front, we are pleased that China Mobile began commercial trial in April and that two of our customers received a majority of the initial handset orders. We believe China Mobile will place two more rounds of handset orders in Q2 and Q3 respectively and that it has already begun to implement the 2nd phase of its TD-SCDMA network. We remain confident that we are well positioned for the ramp of this new technology in 2008 and beyond, as the market looks to ramp towards 100 million TD-based phones by 2011.

In addition to TD-SCDMA, we also have been working on additional growth drivers. We believe our recently announced mobile TV demodulator/decoder chip (the SC6600V) can work either as a stand-alone solution or with a host chip to address designers' needs and should become an important selling point for cellphones in the latter half of this year. The State Administration of Radio Film and Television (SARFT) already has commercial trials in 10 cities, including Beijing, Shanghai, and Shenzhen, and is expected to have CMMB network in 37 cities by August with network installation planned for another 324 cities in 2009. The area covered by CMMB signals will increase further once a planned satellite is launched.

Most of our revenue in 2008 should still come from our refreshed portfolio of 2G/2.5G products that we believe includes unique integrated features on a single chip that have normally been available only on Smartphones, but that Spreadtrum has brought into mainstream phones - such features as touchscreen, Java, dual-SIM, 5 mega-pixel sensors, and robust API capabilities, enabling such services as cell based A-GPS. Therefore, we believe we have the portfolio to allow handset designers to be successful now, but the roadmap to expand, not just within China's production, but into the international export market as well.''

First Quarter 2008 Financial Review Revenue

Revenue in the first quarter totaled US$39.5 million, representing an increase of 51% from 1Q07 but a seasonal decrease of 19% from 4Q07. Revenue from baseband semiconductors was US$35.5 million, or 90% of revenue, up from 79% of revenue in 1Q07, but a slight drop from 93% of revenue in 4Q07 given end-of-life orders from certain turnkey solution providers. Revenue from turnkey solutions was US$4.0 million, which represented 10% of revenue, down from 21% of revenue in 1Q07 and up from 7% of revenue in 4Q07.

Revenue from baseband semiconductors grew 73% from 1Q07 and decreased 21% from 4Q07 to US$35.5 million. Unit shipments of baseband semiconductors increased 96% from 1Q07 and decreased 25% from 4Q07. Nearly all baseband semiconductor shipments in the first quarter were 2G/2.5G related products. 3G products accounted for 1% of the baseband shipments in 1Q08. The average selling price per unit for baseband semiconductors increased by 8% from 4Q07 as a result of better product mix.

Revenue from turnkey solutions decreased during the quarter by 29% from 1Q07 and increased 11% from 4Q07 to US$4.0 million. The year-over-year decrease was a result of the Company's ongoing plan to phase out its SM5100 series modules, and the sequential increase reflected end-of-life purchases by the Company's modules customers.

Gross Margin

The gross margin for the quarter was 44.9%, up from 42.9% in 1Q07 and down from 45.5% in 4Q07. The non-GAAP gross margin was 45.1%, up from 43.1% in 1Q07 and down from 45.6% in 4Q07. Gross margin for baseband semiconductors in 1Q08 decreased approximately 0.7% from 1Q07, primarily as a result of a decline in the weighted average selling price. Gross margin for baseband semiconductors in 1Q08 increased 1.6% from 4Q07, primarily as a result of better product mix.

The cost of revenue in 1Q08 totaled US$21.7 million, representing an increase of 45% from 1Q07 and a decrease of 18% from 4Q07. The year-over-year increase in absolute dollars was driven by an increase in the total cost of baseband semiconductors from higher volumes partially offset by a decline in the total cost of turnkey solutions. The total cost of turnkey solutions declined as the Company continued to de-emphasize its SM5100 series module business. The sequential decrease was driven by a decrease in total wafer fabrication and assembly and testing costs as a result of the 25% decrease in baseband unit volume from 4Q07.

Operating Margin

The Company's operating margin was 5.1% in 1Q08, compared to 5.0% in 1Q07 and 17.6% in 4Q07. The year-over-year improvement in operating margin was due to higher gross margin and lower SG&A expense as a percentage of revenue partially offset by an increase in R&D expenses as a percentage of revenue. The increase in R&D expenses was primarily due to the acquisition of Quorum Systems, whose primary activities are the research and development of radio frequency transceivers. The sequential decrease in operating margin was primarily attributed to higher R&D expenses as a result of the Quorum acquisition and higher SG&A expenses, as percentages of revenue. Excluding stock based compensation expense and the amortization of intangibles from the Quorum acquisition, the non-GAAP operating margin in 1Q08 was 10.8%, up from 9.7% in 1Q07 and down from 20.7% in 4Q07.

Total operating expenses in 1Q08, which include selling, general and administrative (SG&A) expenses and research and development (R&D) expenses, were US$15.7 million, representing increases of 59% from 1Q07 and 17% from 4Q07. Total operating expenses for the quarter represented 39.9% of revenue, compared to 37.9% and 27.8% of revenue in 1Q07 and 4Q07, respectively. Excluding stock based compensation expense and the amortization of intangibles from the Quorum acquisition, total non-GAAP operating expenses in 1Q08 were US$13.6 million, representing increases of 55% from 1Q07 and 12% from 4Q07. Total non-GAAP operating expenses for the quarter represented 34.3% of revenue.

SG&A expenses increased by 22% in 1Q08 from 1Q07 and 15% from 4Q07 and represented 12.1% of revenue. These expenses as a percentage of revenue in 1Q08 improved from 15.0% of revenue in 1Q07 primarily due to lower fees for professional services and higher revenue level in 1Q08. These expenses as a percentage of revenue in 1Q08 increased from 8.6% of revenue in 4Q07 primarily due to lower revenue level in 1Q08. The year-over-year dollar increase was driven primarily by higher salary and benefits as a result of headcount addition, share-based compensation expense, marketing and business travel expense, partially offset by lower fees for professional services. The sequential dollar increase was driven primarily by higher salary and benefits as a result of headcount additions, higher stock-based compensation, marketing and professional service expenses.

R&D expenses in 1Q08 increased 83% year-over-year and 17% sequentially and represented 27.8% of revenue in 1Q08, compared to 22.9% in 1Q07 and 19.3% in 4Q07. The R&D expenses associated with Quorum Systems, which acquisition was completed in mid-January 2008, represented 4.9% of revenue. The year-over- year and sequential dollar increases were driven primarily by the Company's efforts to expand its product portfolio and the impact of the Quorum acquisition. These increases included higher expenses related to salary and benefits, higher stock-based compensation, depreciation and amortization, and non-recurring engineering expense, partially offset by an increase in government grants for R&D projects.

Non-Operating Income

In 1Q08, the Company recorded net interest income of US$0.8 million, representing an increase of US$0.4 million from 1Q07 and a decrease of US$0.7 million from 4Q07. The year-over-year increase was primarily attributed to interest earned from investing the higher balance of cash and cash equivalents arising from the Company's initial public offering. The sequential decrease was primarily due to a reduction in the balance of cash and cash equivalents, as a result of the Quorum purchase, and declines in interest rates.

Earnings

Diluted earnings per ADS was US$0.06, up 20% from US$0.05 in 1Q07 and down 73% from US$0.22 in 4Q07. Excluding stock based compensation expense and amortization of intangibles from the Quorum acquisition, non-GAAP diluted earnings per ADS for 1Q08 was US$0.11, up from US$0.08 in 1Q07 and down from US$0.25 in 4Q07.

The Company's net income totaled US$2.8 million in 1Q08, an increase of 37% from US$2.0 million in 1Q07 and a decrease of 73% from US$10.2 million in 4Q07. The net margin was 7.0%, down from 7.8% in 1Q07 and 21.0% in 4Q07. Excluding stock based compensation expense and amortization of intangibles from the Quorum acquisition, non-GAAP net margin was 12.7% in 1Q08, up from 12.5% in 1Q07 and down from 24.1% in 4Q07.

Balance Sheet and Cash Flow

As of March 31, 2008, the Company had US$97.2 million in cash and cash equivalents, which represented a decrease of US$59.8 million from December 31, 2007 due primarily to the US$55.4 million cash portion spent on the Quorum acquisition. In 1Q08, the Company also used US$2.7 million cash for operating activities, US$1.2 million on property and equipment, and US$1.4 million on intangible assets.

Accounts receivable (A/R) decreased from US$2.2 million at December 31, 2007 to US$1.4 million at March 31, 2008, and the average A/R days decreased from 5 days to 4 days. Inventory at March 31, 2008 was US$20.3 million, a decrease of $4.8 million from December 31, 2007, and the inventory days decreased from 86 days to 85 days, which is in-line with the Company's targets needed for the ramp up of several new products in 2008. Total assets as of December 31, 2007 were US$257.5 million, up 8.7% from US$236.9 million at December 31, 2007.

Current liabilities decreased from US$43.6 million at December 31, 2007 to US$28.0 million at March 31, 2008, primarily due to a decrease in accounts payable. Long-term liabilities at March 31, 2008 were US$19.8 million, compared to US$5.4 million at December 31, 2007, primarily due to an increase of deferred tax liability resulted from the Quorum acquisition.

Promotion

The Company promoted Dr. Yi Kang to the position of Vice President of Marketing. Dr. Kang joined Spreadtrum in 2003 and has worked on a number of different assignments. As the project manager, he led the team that developed the industry's first GSM/TD-SCDMA single chip baseband (SC8800). Later, he was the head of the Company's Beijing office, built up the R&D team in Beijing, and cultivated relationships with universities, the business community, and government agencies. Most recently he was the head of the Mobile Multimedia unit and led the team that developed the Company's CMMB-based mobile TV chip. Dr. Yi Kang received his Ph.D. degree from the University of Illinois at Urbana-Champaign.

Business Outlook:

The Company currently expects revenue in the second quarter to be approximately US$40 million to US$41 million, which represents a sequential increase of 2% to 4% from the US$39.5 million in the first quarter of 2008. A few select customers were undergoing restructuring efforts that began in Q1 and as a result are seeing some slower growth in Q2. We have engaged with several new customers in China and expect to see some initial ramp with these new customers in the 3rd and 4th quarters. In addition, as we begin to ramp up our mobile TV chip and as the TD-SCDMA market continues to ramp, we believe we should see a meaningful resumption of growth in our business during the 2nd half of this year.

The Company estimates its operating margin in 2Q08 should be in the range of 4%-5%, approximately flat from the Q1 level. The Company estimates its stock-based compensation expense will be approximately $2 million in the second quarter.

Webcast of Conference Call:

The Company's management team will conduct a conference call at 6:00 pm Eastern Time on May 15, 2008. A webcast of the conference call will be accessible on the Company's web site at http://www.spreadtrum.com/. The conference call can also be accessed via the following telephone numbers:

USA (Toll Free): 1-866-679-8035 USA (Toll): 1-617-213-4848 Hong Kong (Toll Free): 800-962-844 China (Toll Free): 10-800-130-0399 Participant Passcode: 97671951

Pre-registration (optional): https://www.theconferencingservice.com/prereg/key.process?key=PWAALGPHF

A replay of the conference call will be available for seven days via the following telephone numbers:

USA (Toll Free): 1-888-286-8010 USA (Toll): 1-617-801-6888 Participant Passcode: 1897 2285 Discussion of Non-GAAP Financial Measures

In addition to disclosing financial results prepared in accordance with US GAAP, the Company's earnings release contains non-GAAP financial measures that exclude the effects of share-based compensation and amortization of intangibles from the Quorum acquisition. The non-GAAP financial measures used by management and disclosed by the Company exclude the income statement effects of all forms of share-based compensation and amortization of intangibles from the Quorum acquisition.

The non-GAAP financial measures disclosed by the Company should not be considered a substitute for financial measures prepared in accordance with US GAAP. The financial results reported in accordance with US GAAP and reconciliation of GAAP to non-GAAP results should be carefully evaluated. The non-GAAP financial measures used by the Company may be prepared differently from and, therefore, may not be comparable to similarly titled measures used by other companies.

The Company believes that the presentation of non-GAAP gross margin, non- GAAP operating margin, non-GAAP net income, and non-GAAP diluted earnings per ADS provides important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. The non-GAAP diluted earnings per ADS is calculated by dividing non-GAAP net income by the US GAAP weighted average diluted shares outstanding.

Listed below are the share-based compensation amounts included in net income that management excludes in computing the non-GAAP financial measures referred to in the text of this press release. A reconciliation of GAAP to non-GAAP results is presented after the consolidated balance sheets.

Three months ended March 31, December 31, March 31, 2007 2007 2008 (in thousands of US dollars) Share-based compensation: Cost of revenue $ 49 $ 47 $ 75 Research and development 457 535 790 Selling, general, and administrative 711 913 991 Spreadtrum Communications, Inc. Condensed Consolidated Income Statements (in thousands of US dollars, except per share data and percentages) (unaudited) Three months ended Change from March 31, December March 31, 2007 31, 2007 2008 1Q07 4Q07 Revenue $26,167 $48,542 $39,498 51 % (19)% Cost of revenue 14,954 26,476 21,746 45 % (18)% Gross profit 11,213 22,066 17,752 58 % (20)% Operating expenses Research & development 5,996 9,352 10,967 83 % 17 % Selling, general & administrative 3,920 4,154 4,774 22 % 15 % Total operating expenses 9,916 13,506 15,741 59 % 17 % Operating income 1,297 8,560 2,011 55 % (77)% Non-operating income (expense) Interest income 439 1,452 795 81 % (45)% Interest expense (6) (27) (35) 483 % 30 % Other income, net 331 563 637 92 % 13 % Total non-operating income 764 1,988 1,397 83 % (30)% Income before tax 2,061 10,548 3,408 65 % (68)% Income tax expense 29 352 630 2,072 % 79 % Net income $2,032 $10,196 $2,778 37 % (73)% Basic earnings per ADS $0.36 $0.24 $0.06 (83)% (75)% Diluted earnings per ADS $0.05 $0.22 $0.06 20 % (73)% Margin analysis: Gross margin 42.9 % 45.5 % 44.9 % Operating margin 5.0 % 17.6 % 5.1 % Net margin 7.8 % 21.0 % 7.0 % Weighted average ADS equivalent: (1) Basic 5,659,595 42,263,233 43,164,186 Diluted 38,156,489 47,032,432 46,789,892 (1) Assumes all outstanding ordinary shares are represented by ADSs. Each ADS represents three ordinary shares. Spreadtrum Communications, Inc. Condensed Consolidated Balance Sheets (in thousands of US dollars) (unaudited) March 31, December 31, March 31, 2007 2007 2008 (Note) Cash and cash equivalents $44,801 $157,038 $97,232 Accounts receivable, net 10,713 2,198 1,410 Inventories 9,870 25,054 20,301 Deferred tax assets 202 392 392 Prepaid expenses and other current assets 1,063 5,650 5,625 Total current assets 66,649 190,332 124,960 Property and equipment, net 19,503 23,046 25,236 Acquired intangible assets, net 7,551 14,220 49,321 Goodwill -- -- 46,895 Deferred tax assets 1,060 1,222 1,225 Other long term assets 3,939 8,102 9,876 Total assets 98,702 236,922 257,513 Current portion of long term loan 1,099 685 -- Accounts payable 10,218 24,857 10,165 Advances from customers 2,028 1,210 1,532 Obligation on acquisition of building 5,447 -- -- Income tax payable 1,858 3,088 3,703 Accrued expenses and other current liabilities 12,596 13,773 12,594 Total current liabilities 33,246 43,613 27,994 Long term loan 3,232 3,423 3,562 Deferred tax liabilities 17 37 14,365 Other long-term obligations -- 1,954 1,905 Total long term liabilities 3,249 5,414 19,832 Total liabilities 36,495 49,027 47,826 Shareholders' equity 62,207 187,895 209,687 Total liabilities & $98,702 $236,922 $257,513 shareholders' equity Note: The financial information at March 31, 2008 includes preliminary valuation of Quorum, which is subject to further adjustments. Spreadtrum Communications, Inc. Supplemental Information (in thousands of US dollars, except percentages) Revenue (US$000) 2Q06 3Q06 4Q06 Baseband Semiconductor $11,760 $15,684 $22,645 Turnkey Solutions 17,961 11,017 8,317 Total $29,721 $26,701 $30,962 As % of Total Revenue Baseband Semiconductor 40 % 59 % 73 % Turnkey Solutions 60 % 41 % 27 % Gross Margin 38.8 % 43.2 % 46.4 % Revenue (US$000) 1Q07 2Q07 3Q07 4Q07 1Q08 Baseband $20,589 $27,357 $34,161 $44,971 $35,532 Semiconductor Turnkey Solutions 5,578 4,830 4,409 3,571 3,966 Total $26,167 $32,187 $38,570 48,542 39,498 As % of Total Revenue Baseband 79 % 85 % 89 % 93 % 90 % Semiconductor Turnkey Solutions 21 % 15 % 11 % 7 % 10 % Gross Margin 42.9 % 45.5 % 45.6 % 45.5 % 44.9 % Spreadtrum Communications, Inc. Reconciliation of GAAP to Non-GAAP Results (in thousands of US dollars, except per share data and percentages) (unaudited) Three months ended March 31, December 31, March 31, 2007 2007 2008 Cost of revenue $14,954 $26,475 $21,746 Adjustment for share-based compensation (49) (47) (75) Cost of revenue (non-GAAP) $14,905 $26,428 $21,671 Operating income $1,297 $8,560 $2,011 Adjustment for share-based compensation within: Cost of revenue 49 47 75 Research and development 457 535 790 Selling, general, and administrative 711 913 991 Adjustment for amortization of intangibles from Quorum acquisition within research and development -- -- 400 Operating income (non-GAAP) $2,514 $10,055 $4,267 Net income $2,032 $10,196 $2,778 Adjustment for share-based compensation within: Cost of revenue 49 47 75 Research and development 457 535 790 Selling, general, and administrative 711 913 991 Adjustment for amortization of intangibles from Quorum acquisition within research and development 400 Net income (non-GAAP) * $3,249 $11,691 $5,034 Diluted earnings per ADS $0.05 $0.22 $0.06 Adjustment for share-based compensation 0.03 0.03 0.04 Adjustment for amortization of intangibles from Quorum acquisition -- -- 0.01 Diluted earnings per ADS (non- GAAP)* $0.08 $0.25 $0.11 Gross margin 42.9 % 45.5 % 44.9 % Adjustment for share-based compensation 0.2 % 0.1 % 0.2 % Gross margin (non-GAAP) 43.1 % 45.6 % 45.1 % Operating margin 5.0 % 17.6 % 5.1 % Adjustment for share-based compensation 4.7 % 3.1 % 4.7 % Adjustment for amortization of intangibles from Quorum acquisition -- -- 1.0 % Operating margin (non-GAAP) 9.7 % 20.7 % 10.8 % Net margin 7.8 % 21.0 % 7.0 % Adjustment for share-based compensation 4.7 % 3.1 % 4.7 % Adjustment for amortization of intangibles from Quorum acquisition -- -- 1.0 % Net margin (non-GAAP)* 12.5 % 24.1 % 12.7 % * The non-GAAP adjustment does not take into consideration the impact of taxes. About Spreadtrum Communications, Inc.:

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

Safe Harbor Statements:

This press release contains "forward-looking statements" within the meaning of the ''safe harbor'' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, without limitation, statements regarding the impact that the streamlining of the Company's internal operations, improvement of product mix and product and cost structure will have on the Company's operations in the second half of the year, the Company's target attach rate by year-end for the Company's baseband chips with Quorum's transceivers, China Mobile's placement of second and third rounds of TD-SCDMA handset orders before the Olympics, the TD-SCDMA industry's ramp up of TD-SCDMA technology towards a 100 million user target by 2011, China Mobile's implementation of the second phase of its TD-SCDMA network, our positioning for the ramp up in the manufacture of cellphones incorporating TD- SCDMA technology, that cellphones incorporating our mobile TV demodulator/decoder chip will become an important selling point, the availability of CMMB network in 37 cities by August and CMMB network installation plans for 2009, the revenue in 2008 coming mostly from the Company's refreshed portfolio of 2G/2.5G products, ramp up in sales to new customers during the third and fourth quarters, the improvement in our business during the second half of the year and the Company's expectations with respect to the revenue, operating margin, and stock-based compensation for the second quarter of 2008. These statements are forward-looking in nature and involve risks and uncertainties that may cause actual market trends and the Company's actual results to differ materially from those expressed or implied in these forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to, continuing competitive pressure in the semiconductor industry and the effect of such pressure on prices; unpredictable changes in technology and consumer demand for mobile phones; the Company's ability to integrate Quorum's operations into its own; the Company's ability to successfully produce and market Quorum's RF transceivers in volume; the rate at which the commercial deployment of TD- SCDMA technology will grow; market acceptance of products utilizing TD-SCDMA technology; the Company's ability to sustain recent rates of growth; the state of and any change in the Company's relationship with its major customers; and changes in political, economic, legal and social conditions in China. For additional discussion of these risks and uncertainties and other factors, please consider the information contained in the Company's filings with the U.S. Securities and Exchange Commission (the ''SEC''), including the registration statement on Form F-1 filed on June 26, 2007, as amended, especially the sections under ''Risk Factors'' and ''Management's Discussion and Analysis of Financial Condition and Results of Operations,'' and such other documents that the Company may file with the SEC from time to time, including on Form 6-K. The Company assumes no obligation to update any forward-looking statements, which apply only as of the date of this press release.

For investor information, please contact: Investor Relations Tel: +86-21-5080-2727 x2268 Email: ir@spreadtrum.com

Spreadtrum Communications, Inc.

CONTACT: Investor Relations at +86-21-5080-2727 x2268 or
ir@spreadtrum.com

ATA Announces Preliminary Results for Fourth Quarter and Fiscal Year Ended March 31, 2008

BEIJING, May 16 /Xinhua-PRNewswire-FirstCall/ -- ATA Inc. ("ATA" or the "Company") , the leading provider of computer-based testing and testing-related services in China, today announced its preliminary unaudited financial results for its fiscal fourth quarter ended March 31, 2008 ("Fourth Quarter 2008") and fiscal year ended March 31, 2008 ("Fiscal Year 2008").

The following is an estimate of our preliminary unaudited financial results for the fourth quarter and fiscal year ended March 31, 2008 and these estimates remain subject to change. These results may, for example, become subject to adjustment based upon, among other things, completion of our full year reporting processes, and our audited results could differ materially from the estimates provided below. For additional information regarding the various risks and uncertainties inherent in estimates of this type, see the section entitled "Cautionary Note Regarding Forward Looking Statements" at the end of this press release.

Fourth Quarter 2008 Highlights (Preliminary) -- Net revenues increased by 84.0% year-over-year to approximately RMB29.8 million (US$4.3 million). -- Gross profit increased by 290.3% year-over-year to approximately RMB16.7 million (US$2.4 million). -- Loss from operations decreased to approximately RMB4.6 million (US$ 0.7 million) from RMB12.6 million in the same period last year. -- Net loss was approximately RMB10.8 million (US$1.5 million) compared to a net loss of RMB11.8 million in the same period last year. -- Net loss excluding share-based compensation expense and foreign currency exchange losses (non-GAAP) was approximately RMB1.3 million (US$0.2 million) compared to RMB11.1 million in the same period last year. -- Basic and diluted loss per ADS were expected to be RMB0.60 (US$0.09). Basic and diluted loss per ADS excluding share-based compensation expense and foreign currency exchange losses (non-GAAP) were expected to be RMB0.07 (US$0.01). Each ADS represents two common shares of the Company. -- For the quarter, ATA delivered approximately 597,000 tests, an increase of 89.0% year-over-year. In addition, average revenue per test increased to RMB19.1 from RMB9.9 in the same period last year. Fiscal Year 2008 Highlights (Preliminary) -- Net revenue increased approximately by 103.6% year-over-year to RMB172.8 million (US$24.6 million). -- Gross profit increased approximately by 141.9% year-over-year to RMB105.9 million (US$15.1 million). -- Income from operations increased to approximately RMB25.6 million (US$3.7 million) compared to a loss from operations of RMB19.6 million in the previous year. -- Net income was approximately RMB15.1 million (US$2.2 million), compared to a loss of RMB16.8 million in the previous year. -- Net income excluding share-based compensation expense and foreign currency exchange losses, net (non-GAAP) was approximately RMB30.5 million (US$4.4 million), compared to a loss of RMB13.4 million in the previous year. -- Basic and diluted earnings per ADS were expected to be RMB1.19 (US$0.17) and RMB0.80 (US$0.11), respectively. Basic and diluted earnings per ADS excluding share-based compensation expense and foreign currency exchange losses (non-GAAP) were RMB2.40 (US$0.34) and RMB1.62 (US$0.23), respectively. -- For the full year, ATA delivered approximately 3.6 million tests, an increase of 8.9% year-over-year while average revenue per test increased to RMB21.5 from RMB7.4 in the same period last year.

"We are happy with our performance for 2008 and are very excited about what we can achieve for 2009," said Kevin Ma, ATA's Chairman and Chief Executive Officer. "We believe we remain the leading player in China's computer-based testing services market and are well positioned for further growth."

ATA's Chief Financial Officer, Carl Yeung, stated, "Our revenue and operating profitability for the full year has reached new milestones. For the quarter, despite a continuing slow down in growth of our test-based educational services and a delay in the launch of nationwide internet cafe licensure testing, we have continued to meet our revenue and profitability expectations as we experienced an increase in volume of test takers from Ministry of Labor and Securities Association of China."

Preliminary Financial Results for the Fourth Quarter 2008

For Fourth Quarter 2008, ATA estimates net revenues to be approximately RMB29.8 million (US$4.3 million), representing an 84.0% increase year-over-year. This increase was mainly driven by an estimated 263.7% increase in net revenues from testing services, and an estimated 31.2% increase in net revenues from test-based educational programs.

The overall number of tests delivered increased by 89.0% year-over-year to approximately 597,000 in Fourth Quarter 2008, while the average revenue per test delivered rose to RMB19.1 from RMB9.9 in the same period of fiscal year 2007. This increase in average revenue per test was due, in part, to a significant increase in the number of tests delivered for the Securities Association of China and Ministry of Labor.

Gross profit estimated to increase by 290.3% year-over-year to approximately RMB16.7 million (US$2.4 million) from RMB4.3 million in the same period last year. Gross margin estimated to increase to 56.1% in the Fourth Quarter 2008 from 26.4% in the same period last year, driven by higher contribution from the Company's more profitable testing services as a percentage of total net revenue.

Operating expenses estimated to increase by 26.4% year-over-year to approximately RMB21.4 million (USS$3.0 million) from RMB16.9 million in the same period last year, primarily due to the increase in general and administrative expenses related to share-based compensation, an increase in our research and development staff, and incremental expenses related to being a public company.

Loss from operations estimated to decrease to approximately RMB4.6 million (US$0.7 million) from RMB12.6 million in the same period last year. Operating margin expected to be negative 15.4% in Fourth Quarter 2008 compared to negative 77.7% in the same period last year. Operating margin improved due to stable operating expenses and a fast-growing revenue base.

For the quarter, ATA estimates to have incurred a foreign currency loss of RMB7.6 million (US$1.1 million) primarily due to a high US dollar cash balance from the January IPO proceeds and RMB appreciated against the US dollar during the quarter.

Net loss for Fourth Quarter 2008 was approximately RMB10.8 million (US$1.5 million), compared to net loss of RMB11.8 million in the same period last year. Basic and diluted loss per common share expected to be RMB0.30 (US$0.04), and basic and diluted loss per ADS were RMB0.60 (US$0.09).

Net loss excluding share-based compensation expense and foreign currency exchange losses (non-GAAP) expected to be RMB1.3 million (US$0.2 million) for Fourth Quarter 2008 compared to loss of RMB11.1 million in the same period last year. Basic and diluted loss per ADS excluding share-based compensation expense and foreign currency exchange losses (non-GAAP) were expected to be RMB0.07 (US$0.01).

Preliminary Financial Results for the Fiscal Year Ended March 31, 2008

For the fiscal year ended March 31, 2008 ATA reported net revenues of approximately RMB172.8 million (US$24.6 million), representing a 103.6% increase over the fiscal year ended March 31, 2007.

Total number of tests delivered was approximately 3.6 million, an increase of 8.9% over the fiscal year ended March 31, 2007, while average revenue per test increased to approximately RMB21.5 from RMB7.4 the prior year.

Gross profit margin for the full year expected to expand to approximately 61.3% compared to 51.6% for the fiscal year ended March 31, 2007.

Operating margin expected to improve to approximately 14.8% compared to negative 23.1% for the fiscal year ended March 31, 2007.

Net income was approximately RMB15.1 million (US$2.2 million), and net income excluding share-based compensation expense and foreign currency exchange losses (non-GAAP) was approximately RMB30.5 million (US$4.4 million).

Basic and diluted earnings per ADS were approximately RMB1.19 (US$0.17) and RMB0.80 (US$0.11), respectively. Basic and diluted earnings per ADS excluding share-based compensation expense and foreign currency exchange losses (non-GAAP) were RMB2.40 (US$0.34) and RMB1.62 (US$0.23), respectively.

Other Operating Data

As of March 31, 2008, ATA had 342 staff, 134 of which were in client service and support, 72 in sales and marketing, 73 in research and development and 63 in general and administrative functions.

As of March 31, 2008, ATA had 1,854 authorized test centers located throughout China.

The number of weighted average ADSs used to calculate basic and diluted earnings per ADS for the quarter ended March 31, 2008 were 18.0 million and 21.4 million respectively.

ATA had 43.6 million common shares outstanding as of March 31, 2008. First Quarter 2009 and Full Year Fiscal Year 2009 Guidance

For the fiscal first quarter 2009, ATA forecasts net revenues will be in the range of RMB66 million to RMB69 million, representing year-over-year growth in the range of 149% to 161%. ATA re-iterates the expectation that net revenues for the fiscal year ended March 31, 2009 will be in the range of RMB340 million to RMB350 million, which is expected to represent a 97% to 103% growth over fiscal year 2008. This is ATA's current and preliminary view, which is subject to change. Our results of operations for Fourth Quarter 2008 and the fiscal year ended March 31, 2008 are not necessarily indicative of our operating results for any future periods.

Conference Call

The Company will host a conference call at 6:00 p.m. ET on May 15, 2008, to discuss the results for the Fourth Quarter 2008. Joining Kevin Ma, CEO of ATA Inc., will be Walter Wang, Director and President, and Carl Yeung, Chief Financial Officer. To participate in the conference call, please dial +1(800)901-5248 five to ten minutes prior to the scheduled conference call time and ask to join the ATA Inc call. International callers should dial +1(617)786-4512. Callers from Hong Kong should dial +852-3002-1672.

If you are unable to participate in the call at this time, a replay will be available on May 15 at 9:00 p.m. ET, for seven days. To access the replay, dial +1(888)286-8010, international callers should dial +1(617)801-6888, and enter the pass code 64528046.

This conference call will be broadcast live over the Internet and can be accessed by all interested parties on ATA Inc.'s website at http://www.ata.net.cn/. To listen to the live webcast, please go to ATA Inc.'s website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on ATA Inc.'s website for 90 days.

Other Announcements:

On May 13, 2008, ATA has completed the domestic PRC approvals required for acquisition of Beijing Jindixin Software Technology Company Limited, or Beijing Jindixin, and its parent company, JDX Holdings Limited. This acquisition is expected to expand ATA's business by allowing ATA to market test delivery services to test sponsors that are using software developed by Beijing Jindixin. This will expand ATA's scope of services to test sponsors that wish to outsource their test management systems, and leverage the relationships developed by the management of Beijing Jindixin with test sponsors.

ATA recorded registration of 470,000 test takers for the China Banking Association test scheduled to take place between May 31, 2008 and June 1, 2008. ATA expects its revenue per test taker for this client to decrease from RMB74 per test taker in fiscal year 2008 to RMB64 per test taker in fiscal year 2009. This is due to the China Banking Association lowering the test fee paid by candidates from RMB150 to RMB100. Although the test fee has been reduced, ATA will receive an effective higher revenue split of 64%, up from 49%. ATA will also reduce certain services in order to protect its profit per test taker. ATA believes that lower fees paid by test candidates will further support the high growth momentum for China Banking Association test takers. In addition, the new arrangement demonstrates ATA's strong position as an established test delivery provider in China.

About ATA Inc.:

ATA is the leading provider of computer-based testing services in China. The Company offers comprehensive services for the creation and delivery of computer-based tests based on its proprietary testing technologies and test delivery platform. The Company's computer-based testing services are used for professional licensure and certification tests in various industries, including information technology, or IT, services, banking, teaching, securities, insurance and accounting. ATA's test center network comprised 1,854 authorized test centers located throughout China as of March 31, 2008, which the Company believes is the largest test center network of any commercial testing service provider in China. Combined with its test delivery technologies, this network allows ATA's clients to administer large-scale nationwide tests in a consistent, secure and cost-effective manner. ATA has delivered over 24 million tests since it commenced operations in 1999, and in July 2007 delivered tests to more than 200,000 test takers in a single day for the China Banking Association, through its test delivery platform. For further information, please visit: http://www.ata.net.cn/ .

Cautionary Note Regarding Forward-looking Statements

This announcement contains 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, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "look forward to," "outlook," "forecast," "will," "expect," "anticipate," "future," "intend," "plan," "believe," "estimate" and similar terminology and include, among other things, the Company's anticipated financial and operating results for the fiscal quarter ending June 30, 2008 and the fiscal year ending March 31, 2009. Among the factors that could cause the Company's actual financial and operating results to differ from what the Company currently anticipate may include the Company's ability to meet challenges associated with its rapid expansion, the Company's ability to meet the expectations of current and future clients, the Company's ability to implement and maintain effective internal controls over financial reporting, the health of the PRC economy, and uncertainties with respect to the PRC legal and regulatory environments. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's prospectus dated January 28, 2008, which was filed with the U.S. Securities and Exchange Commission and is available on the Securities and Exchange Commission's website at http://www.sec.gov/. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations and prospects, se "Risk Factors" beginning on page 9 of our prospectus.

The forward-looking statements in this release involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the markets in which it operates. The Company undertakes no obligation to update forward-looking statements, which speak only of the Company's views as of the date of this release, to reflect subsequent events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

About Non-GAAP Financial Measures

To supplement ATA's consolidated financial results presented in accordance with U.S. generally accepted accounting principles ("GAAP"), ATA uses the following measures defined as non-GAAP financial measures by the U.S. Securities and Exchange Commission: net income excluding share-based compensation expenses and foreign currency exchange losses and basic and diluted earnings per ADS excluding share-based compensation expenses and foreign currency exchange losses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release.

ATA believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses and foreign currency exchange losses, which may not be indicative of its operating performance from a cash perspective. ATA believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to ATA's historical performance and liquidity. ATA computes its non-GAAP financial measures using the consistent method from quarter to quarter. ATA believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP net income excluding share- based compensation expenses and basic and diluted earnings per share and per ADS excluding share-based compensation expenses is that share-based compensation charges have been and are expected to continue to be for the foreseeable future a significant recurring expense in ATA's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table captioned "Reconciliations of Non-GAAP measures to the most comparable GAAP measures" set forth at the end this release, has more details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures used by ATA.

Currency Convenience Translation

The Company's financial information is stated in RMB. The translation of RMB amounts for the Fourth Quarter 2008 into United States dollars is included solely for the convenience of readers and has been made at the rate of RMB7.0120 to US$1.00, the noon buying rate as of March 31, 2008 in the City of New York for cable transfers in RMB per US dollar as certified for customs purposes by the Federal Reserve Bank of New York. Such translations should not be construed as representations that RMB amounts could be converted into US dollar at that rate or any other rate, or to be the amounts that would have been reported under US GAAP.

For more information, please contact: ATA Inc. Carl Yeung, CFO Tel: +86-10-6518-1122 x5107 Email: ir@ata.net.cn CCG Elite Investor Relations Crocker Coulson, President Tel: +1-646-213-1915 Email: crocker.coulson@ccgir.com Ed Job, CFA Tel: +1-646-213-1914 Email: ed.job@ccgir.com

ATA Inc.

CONTACT: Carl Yeung, CFO of ATA Inc., +86-10-6518-1122 x5107, or
ir@ata.net.cn; Or Crocker Coulson, President, +1-646-213-1915, or
crocker.coulson@ccgir.com; Or Ed Job, CFA, +1-646-213-1914, or
ed.job@ccgir.com, both of CCG Elite Investor Relations

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

Autodesk Reports First Quarter Fiscal 2009 Revenue of $599 Million

SAN RAFAEL, Calif., May 15 /PRNewswire-FirstCall/ -- Autodesk, Inc. today reported revenue of $599 million for the first quarter of fiscal 2009, an increase of 18 percent over the first quarter of fiscal 2008. First quarter net income was $95 million, or $0.41 per diluted share, on a GAAP basis and $117 million, or $0.50 per diluted share, on a non-GAAP basis. Net income in the first quarter of the prior year was $83 million, or $0.34 per diluted share on a GAAP basis, and $107 million, or $0.44 per diluted share on a non-GAAP basis. A reconciliation between GAAP and non-GAAP results is provided at the end of this press release.

"Fiscal 2009 is off to a good start with our solid first quarter results," said Carl Bass, Autodesk president and CEO. "International markets, especially emerging economies, continue to underpin our overall revenue growth. We also continue to experience strong growth of our 3D products. Autodesk continues to drive innovative design technologies into a variety of industries - architecture, engineering, manufacturing, media and entertainment - and we will continue to work hard to shape the evolution of industry design trends such as Digital Prototyping and Building Information Modeling."

Operational Highlights

In addition to favorable currency exchange rates, Autodesk's performance in the first quarter of fiscal 2009 was driven by revenue from new seats, continued customer adoption of our 3D design solutions, and strong revenue growth in emerging economies.

Revenue from the emerging economies increased 41 percent over the first quarter of fiscal 2008 to $101 million and represented 17 percent of total revenue.

The outstanding growth in emerging economies led to strong performance in our EMEA and Asia Pacific regions. EMEA revenue was $259 million, an increase of 25 percent as reported over the first quarter of fiscal 2008, and 11 percent at constant currency. Revenue in Asia Pacific was $149 million, an increase of 27 percent as reported year-over-year, and 18 percent at constant currency. Faced with continued economic headwinds, revenue in the Americas increased 4 percent over the first quarter of fiscal 2008 to $191 million, as expected.

Combined revenue from the Company's model-based 3D products, Inventor, Revit, Civil 3D, NavisWorks, and Robobat, increased 37 percent over the first quarter of fiscal 2008 to $146 million and comprised 24 percent of total revenue. Autodesk shipped approximately 35,000 commercial seats of its model- based 3D design products, including 11,500 commercial seats of Inventor and 24,000 seats of its Architecture, Engineering and Construction products - Revit, Civil 3D, and NavisWorks. In addition, revenue from 2D vertical products increased 16 percent compared to the first quarter of fiscal 2008.

Revenue from new seats increased by 23 percent compared to the first quarter of fiscal 2008.

Upgrade revenue and maintenance revenue combined increased 16 percent over the first quarter of fiscal 2008 to $228 million. Maintenance revenue increased 33 percent compared to the first quarter of fiscal 2008 to $167 million, or 28 percent of total revenue. Deferred maintenance revenue increased $40 million sequentially and $130 million compared to the first quarter of fiscal 2008. As expected, total upgrade revenue decreased 14 percent compared to the first quarter of fiscal 2008.

Business Outlook

The following statements are forward-looking statements which are based on current expectations and which involve risks and uncertainties some of which are set forth below. On May 1, 2008, Autodesk announced its intent to acquire Moldflow Corporation. Moldflow financials are not included in the following numbers.

Second Quarter Fiscal 2009

Net revenue for the second quarter of fiscal 2009 is expected to be in the range of $600 million and $610 million. GAAP earnings per diluted share are now expected to be in the range of $0.40 and $0.42. This is slightly lower than our prior projection due to additional stock-based compensation expenses. Non-GAAP earnings per diluted share are expected to be in the range of $0.52 and $0.54 and exclude $0.09 related to stock-based compensation expense and $0.03 for the amortization of acquisition related intangibles.

Third Quarter Fiscal 2009

Net revenue for the third quarter of fiscal 2009 is expected to be in the range of $605 million and $620 million. GAAP earnings per diluted share are expected to be in the range of $0.42 and $0.45. Non-GAAP earnings per diluted share are expected to be in the range of $0.53 and $0.56 and exclude $0.09 related to stock-based compensation expense and $0.02 for the amortization of acquisition related intangibles.

Full Year Fiscal 2009

For fiscal year 2009, net revenue is expected to be in the range of $2.45 billion and $2.50 billion. Full year GAAP earnings per diluted share are now expected to be in the range of $1.78 and $1.88. This is slightly lower than our prior projection due to additional stock-based compensation expenses. Non-GAAP earnings per diluted share are still expected to be in the range of $2.20 and $2.30 and exclude $0.32 related to stock-based compensation expense and $0.10 for the amortization of acquisition related intangibles.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements in the paragraphs under "Business Outlook" above, statements regarding anticipated market trends and other statements regarding our expected performance and results. Other factors that could cause actual results to differ materially include the following: general market and business conditions, our performance in particular geographies, including emerging economies, complications or difficulties closing our pending acquisition of Moldflow Corporation, difficulties encountered in integrating new or acquired businesses and technologies or the inability to realize the anticipated benefits of acquisitions, fluctuation in foreign currency exchange rates, unexpected fluctuations in our tax rate, the timing and degree of expected investments in growth opportunities, slowing momentum in maintenance or subscription revenues, failure to achieve sufficient sell-through in our channels for new or existing products, pricing pressure, failure to achieve continued cost reductions and productivity increases, failure to achieve continued migration from 2D products to 3D products, changes in the timing of product releases and retirements, failure of key new applications to achieve anticipated levels of customer acceptance, failure to achieve continued success in technology advancements, the financial and business condition of our reseller and distribution channels, interruptions or terminations in the business of the Company's consultants or third party developers, and unanticipated impact of accounting for technology acquisitions.

Further information on potential factors that could affect the financial results of Autodesk are included in the Company's reports on Form 10-K for the year ended January 31, 2008 which is on file with the Securities and Exchange Commission. Autodesk does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Earnings Conference Call and Webcast

Autodesk will host its first quarter conference call today at 5:00 p.m. EDT. The live announcement may be accessed at http://www.autodesk.com/investors or by dialing 800-561-2813 or 617-614-3529 (passcode: 38361016). An audio webcast or podcast of the call will be available at 7:00 pm EDT at http://www.autodesk.com/investors. This replay will be maintained on our website for at least twelve months. An audio replay will also be available for one month beginning at 7:00 pm EDT by dialing 888-286-8010 or 617-801-6888 (passcode: 41192095).

About Autodesk

Autodesk, Inc. is the world leader in 2D and 3D design software for the manufacturing, building and construction, and media and entertainment markets. Since its introduction of AutoCAD software in 1982, Autodesk has developed the broadest portfolio of state-of-the-art digital prototyping solutions to help customers experience their ideas before they are real. Fortune 1000 companies rely on Autodesk for the tools to visualize, simulate and analyze real-world performance early in the design process to save time and money, enhance quality and foster innovation. For additional information about Autodesk, visit http://www.autodesk.com/.

Note: AutoCAD, Autodesk, Civil 3D, Inventor, Revit, NavisWorks, and Robobat are either registered trademarks or trademarks of Autodesk, Inc., in the US and/or other countries. All other brand names, product names or trademarks belong to their respective holders.

Investors: David Gennarelli, david.gennarelli@autodesk.com, 415-507-6033 Katie Blanchard, katherine.blanchard@autodesk.com, 415-507-6034 Press: Pam Pollace, pam.pollace@autodesk.com, 415-547-2441 Colleen Rubart, colleen.rubart@autodesk.com, 415-547-2368 Autodesk, Inc. Consolidated Statements of Income (In millions, except per share data) Three Months Ended April 30, 2008 2007 (Unaudited) Net revenues: License and other $432.2 $383.2 Maintenance 166.6 125.4 Total net revenues 598.8 508.6 Cost of license and other revenues 55.8 50.5 Cost of maintenance revenues 2.0 2.2 Total cost of revenues 57.8 52.7 Gross margin 541.0 455.9 Operating Expenses: Marketing and sales 223.9 192.5 Research and development 143.7 114.7 General and administrative 53.5 47.3 Total operating expenses 421.1 354.5 Income from operations 119.9 101.4 Interest and other income, net 6.9 9.8 Income before income taxes 126.8 111.2 Provision for income taxes (32.2) (27.9) Net income $94.6 $83.3 Basic net income per share $0.42 $0.36 Diluted net income per share $0.41 $0.34 Shares used in computing basic net income per share 226.2 231.2 Shares used in computing diluted net income per share 232.6 243.8 Autodesk, Inc. Condensed Consolidated Balance Sheets (In millions) April 30, January 31, 2008 2008 (Unaudited) (Audited) ASSETS: Current assets: Cash and cash equivalents $909.1 $917.9 Marketable securities 32.9 31.4 Accounts receivable, net 333.5 386.5 Deferred income taxes 96.7 98.1 Prepaid expenses and other current assets 51.2 47.9 Total current assets 1,423.4 1,481.8 Marketable securities 8.3 8.4 Computer equipment, software, furniture and leasehold improvements, net 84.3 80.2 Purchased technologies, net 60.6 64.4 Goodwill 447.6 443.4 Deferred income taxes, net 39.8 51.3 Other assets 76.0 79.4 $2,140.0 $2,208.9 LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities: Accounts payable $73.7 $79.3 Accrued compensation 90.5 162.4 Accrued income taxes 18.8 14.4 Deferred revenues 431.3 400.7 Borrowings under line of credit 40.0 - Other accrued liabilities 80.2 89.7 Total current liabilities 734.5 746.5 Deferred revenues 118.4 105.4 Long term income taxes payable 93.1 86.5 Other liabilities 58.6 40.0 Commitments and contingencies Stockholders' equity: Preferred stock - - Common stock and additional paid-in capital 962.7 998.3 Accumulated other comprehensive income (loss) 20.1 13.8 Retained earnings 152.6 218.4 Total stockholders' equity 1,135.4 1,230.5 $2,140.0 $2,208.9 Autodesk, Inc. Condensed Consolidated Statements of Cash Flows (In millions) Three Months Ended April 30, 2008 2007 (Unaudited) Operating Activities Net income $94.6 $83.3 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 16.9 14.2 Stock-based compensation expense 25.2 14.8 Changes in operating assets and liabilities, net of business combinations 48.6 79.3 Net cash provided by operating activities 185.3 191.6 Investing Activities Purchases of available-for-sale marketable securities (2.1) (447.7) Sales and maturities of available-for-sale marketable securities 0.8 358.0 Capital and other expenditures (13.4) (6.8) Capitalization of software development costs (1.0) - Business combinations, net of cash acquired 0.2 - Net cash used in investing activities (15.5) (96.5) Financing activities Proceeds from issuance of common stock, net of issuance costs 35.3 - Borrowings under line of credit 39.9 - Repurchases of common stock (256.5) - Net cash used in financing activities (181.3) - Effect of exchange rate changes on cash and cash equivalents 2.7 1.3 Net increase in cash and cash equivalents (8.8) 96.4 Cash and cash equivalents at beginning of year 917.9 665.9 Cash and cash equivalents at end of period $909.1 $762.3 Autodesk, Inc. Reconciliation of GAAP financial measures to non-GAAP financial measures (In millions, except per share data) To supplement our consolidated financial statements presented on a GAAP basis, Autodesk provides investors with certain non-GAAP measures including non-GAAP net income, non-GAAP net income per share, non-GAAP cost of license and other revenues, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP interest and other income, net and non-GAAP provision for income taxes. These non-GAAP financial measures are adjusted to exclude certain costs, expenses, gains and losses, including stock-based compensation expense, employee tax reimbursements related to our stock option review, litigation expenses, in-process research and development expenses, restructuring expenses, amortization of purchased intangibles, investment impairment and income tax expenses. See our reconciliation of GAAP financial measures to non-GAAP financial measures herein. We believe these exclusions are appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future, as well as to facilitate comparisons with our historical operating results. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of Autodesk's underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside our core operating results. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for our planning and forecasting of future periods. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with generally accepted accounting principles in the United States. Investors should review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release. The following table shows Autodesk's non-GAAP results reconciled to GAAP results included in this release. Three Months Ended April 30, 2008 2007 (Unaudited) GAAP cost of license and other revenues $55.8 $50.5 SFAS 123R stock-based compensation expense (1.0) (0.6) Amortization of developed technology (3.6) (2.1) Employee tax reimbursements related to stock option review - (1.1) Non-GAAP cost of license and other revenues $51.2 $46.7 GAAP gross margin $541.0 $455.9 SFAS 123R stock-based compensation expense 1.0 0.6 Amortization of developed technology 3.6 2.1 Employee tax reimbursements related to stock option review - 1.1 Non-GAAP gross margin $545.6 $459.7 GAAP marketing and sales $223.9 $192.5 SFAS 123R stock-based compensation expense (10.5) (6.1) Employee tax reimbursements related to stock option review - (4.8) Non-GAAP marketing and sales $213.4 $181.6 GAAP research and development $143.7 $114.7 SFAS 123R stock-based compensation expense (8.4) (4.9) Employee tax reimbursements related to stock option review - (4.4) Non-GAAP research and development $135.3 $105.4 GAAP general and administrative $53.5 $47.3 SFAS 123R stock-based compensation expense (5.3) (3.2) Amortization of customer relationships and trademarks (2.9) (1.9) Employee tax reimbursements related to stock option review - (1.7) Non-GAAP general and administrative $45.3 $40.5 GAAP operating expenses $421.1 $354.5 SFAS 123R stock-based compensation expense (24.2) (14.2) Employee tax reimbursements related to stock option review - (10.9) Amortization of customer relationships and trademarks (2.9) (1.9) Non-GAAP operating expenses $394.0 $327.5 GAAP income from operations $119.9 $101.4 SFAS 123R stock-based compensation expense 25.2 14.8 Employee tax reimbursements related to stock option review - 12.0 Amortization of developed technology 3.6 2.1 Amortization of customer relationships and trademarks 2.9 1.9 Non-GAAP income from operations $151.6 $132.2 GAAP provision for income taxes $(32.2) $(27.9) Income tax effect on difference between GAAP and non-GAAP total costs and expenses at a normalized rate (9.1) (7.3) Non-GAAP provision for income taxes $(41.3) $(35.2) GAAP net income $94.6 $83.3 SFAS 123R stock-based compensation expense 25.2 14.8 Employee tax reimbursements related to stock option review - 12.0 Amortization of developed technology 3.6 2.1 Amortization of customer relationships and trademarks 2.9 1.9 Income tax effect on difference between GAAP and non-GAAP total costs and expenses at a normalized rate (9.1) (7.3) Non-GAAP net income $117.2 $106.8 GAAP diluted net income per share $0.41 $0.34 SFAS 123R stock-based compensation expense 0.11 0.06 Employee tax reimbursements related to stock option review - 0.05 Amortization of developed technology 0.01 0.01 Amortization of customer relationships and trademarks 0.01 0.01 Income tax effect on difference between GAAP and non-GAAP total costs and expenses at a normalized rate (0.04) (0.03) Non-GAAP diluted net income per share $0.50 $0.44 GAAP diluted shares used in per share calculation 232.6 243.8 Impact of SFAS 123R on diluted shares 0.3 1.3 Non-GAAP diluted shares used in per share calculation 232.9 245.1 Other Supplemental Financial Information (1) Fiscal Year 2009 QTR 1 QTR 2 QTR 3 QTR 4 YTD 2009 Financial Statistics (in millions, except per share data): Total net revenues $599 $599 License and other revenues $432 $432 Maintenance revenues $167 $167 Gross Margin - GAAP 90% 90% Gross Margin - Non-GAAP 91% 91% GAAP Operating Expenses $421 $421 GAAP Operating Margin 20% 20% GAAP Net Income $95 $95 GAAP Diluted Net Income Per Share $0.41 $0.41 Non-GAAP Operating Expenses(2)(3) $394 $394 Non-GAAP Operating Margin(2)(4) 25% 25% Non-GAAP Net Income (2)(5) $117 $117 Non-GAAP Diluted Net Income Per Share (2)(6) $0.50 $0.50 Total Cash and Marketable Securities $950 $950 Days Sales Outstanding 51 51 Capital Expenditures $13 $13 Cash from Operations $185 $185 GAAP Depreciation and Amortization $17 $17 Revenue by Geography (in millions): Americas $191 $191 Europe $259 $259 Asia/Pacific $149 $149 Revenue by Segment (in millions): Platform Solutions and Emerging Business and Other $278 $278 Architecture, Engineering and Construction $129 $129 Manufacturing Solutions $119 $119 Media and Entertainment $67 $67 Other $6 $6 Other Revenue Statistics: % of Total Rev from AutoCAD, AutoCAD upgrades and AutoCAD LT 41% 41% % of Total Rev from 3D design products 24% 24% % of Total Rev from Emerging Economies 17% 17% Upgrade Revenue (in millions) $61 $61 Deferred Maintenance Revenue (in millions): Deferred Maintenance Revenue Balance $474 $474 Favorable (Unfavorable) Impact of U.S. Dollar Translation Relative to Foreign Currencies Compared to Comparable Prior Year Period (in millions): FX Impact on Total Net Revenues $41 $41 FX Impact on Total Operating Expenses $(14) $(14) FX Impact on Total Net Income $27 $27 Gross Margin by Segment (in millions): Platform Solutions and Emerging Business and Other $263 $263 Architecture, Engineering and Construction $119 $119 Manufacturing Solutions $110 $110 Media and Entertainment $50 $50 Unallocated amounts $(1) $(1) Common Stock Statistics: GAAP Shares Outstanding 223,616,000 223,616,000 GAAP Fully Diluted Weighted Average Shares Outstanding 232,607,000 232,607,000 Shares Repurchased 8,001,000 8,001,000 Installed Base Statistics: Total AutoCAD-based Installed Base 4,377,000 4,377,000 Total Inventor Installed Base 794,000 794,000 Total Maintenance Installed Base 1,587,000 1,587,000 (1) Totals may not agree with the sum of the components due to rounding. (2) To supplement our consolidated financial statements presented on a GAAP basis, Autodesk provides investors with certain non-GAAP measures including non-GAAP net income, non-GAAP net income per share, non-GAAP cost of license and other revenues, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP interest and other income, net and non-GAAP provision for income taxes. These non-GAAP financial measures are adjusted to exclude certain costs, expenses, gains and losses, including stock-based compensation expense, employee tax reimbursements related to our stock option review, litigation expenses, in-process research and development expenses, restructuring expenses, amortization of purchased intangibles, investment impairment and income tax expenses. See our reconciliation of GAAP financial measures to non-GAAP financial measures herein. We believe these exclusions are appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future, as well as to facilitate comparisons with our historical operating results. These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of Autodesk's underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside our core operating results. In addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for our planning and forecasting of future periods. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with generally accepted accounting principles in the United States. Investors should review the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures as provided in the tables accompanying this press release. Fiscal Year 2009 QTR 1 QTR 2 QTR 3 QTR 4 YTD 2009 (3) GAAP Operating Expenses $421 $421 Stock-based compensation expense (24) (24) Amortization of customer relationships and trademarks (3) (3) In-process research and development - - Non-GAAP Operating Expenses $394 $394 (4) GAAP Operating Margin 20% 20% Stock-based compensation expense 4% 4% Amortization of developed technology 1% 1% Amortization of customer relationships and trademarks 0% 0% In-process research and development 0% 0% Non-GAAP Operating Margin 25% 25% (5) GAAP Net Income $95 $95 Stock-based compensation expense 25 25 Amortization of developed technology 4 4 Amortization of customer relationships and trademarks 3 3 In-process research and development - - Income tax effect on difference between GAAP and non-GAAP total costs and expenses at a normalized rate (9) (9) Non-GAAP Net Income $117 $117 (6) GAAP Diluted Net Income Per Share $0.41 $0.41 Stock-based compensation expense 0.11 0.11 Amortization of developed technology 0.01 0.01 Amortization of customer relationships and trademarks 0.01 0.01 In-process research and development - - Income tax effect on difference between GAAP and non-GAAP total costs and expenses at a normalized rate (0.04) (0.04) Non-GAAP Diluted Net Income Per Share $0.50 $0.50

Autodesk, Inc.

CONTACT: investors, David Gennarelli, david.gennarelli@autodesk.com,
+1-415-507-6033, or Katie Blanchard, katherine.blanchard@autodesk.com,
+1-415-507-6034, or press, Pam Pollace, pam.pollace@autodesk.com,
+1-415-547-2441, Colleen Rubart, colleen.rubart@autodesk.com, +1-415-547-2368,
all of Autodesk, Inc.

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

Novellus Announces Availability and Timing of Mid-Quarter Update Conference Call Webcast for Second Quarter 2008

SAN JOSE, Calif., May 15 /PRNewswire-FirstCall/ -- Novellus Systems, Inc. , today announced that it will provide its mid-quarter update for the second quarter 2008 in a conference call to be held Thursday, May 29, 2008, beginning at 1:30 p.m. PDT. The call will be available via an audio webcast that can be accessed on Novellus' Investor Relations home page, located at http://www.novellus.com/. A replay of the webcast will be available for seven days following the conference call.

About Novellus:

Novellus Systems, Inc. is a leading provider of advanced process equipment for the global semiconductor industry. The company's products deliver value to customers by providing innovative technology backed by trusted productivity. An S&P 500 company, Novellus is headquartered in San Jose, Calif. with subsidiary offices across the globe. For more information please visit http://www.novellus.com/.

Novellus Systems, Inc.

CONTACT: Robin S. Yim, Investor Relations of Novellus Systems, Inc.,
+1-408-943-9700

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

Simclar Announces Results for First Quarter of 2008

HIALEAH, Fla., May 15 /PRNewswire-FirstCall/ -- Simclar, Inc. , a multi-plant electronics contract manufacturer, reported its results for the three months ended March 31, 2008.

Revenue for the three months ended March 31, 2008 was $29,922,815 compared to $31,407,512 in the same period in 2007. The decrease, while disappointing, was due in the main to the postponement of the introduction of a key customer's new programs until later in the year.

Pre-tax income for the three months ended March 31, 2008 was $59,101 compared to $967,634 for the same period in 2007. While this decrease was partly as a result of the decrease in sales, the most significant factor was the inclusion in the 2008 results of costs of approximately $797,000 in relation to the closure of our North Carolina facility.

Net income for the three months ended March 31, 2008 was $40,485 or $0.01 per share, compared to $638,639 or $0.10 per share in the same period in 2007. However, exclusion of the North Carolina closure costs would give an adjusted net income for the first quarter of 2008 of $566,304 or $0.09 per share.

Chairman Sam Russell commented, "The quarter's performance, although below our expectations, was nevertheless severely impacted by the $0.8 million of costs incurred as a result of the closure of our North Carolina facility. With the closure now complete and the transferred business now fully integrated into our Mexican facility, we look forward to the future benefits of improved profitability and cash flow. Although it is evident that the economic slow-down has affected some of our key customers, our backlog at the end of the quarter was $28 million, an increase of 6% since the end of 2007, and our forecasts indicate a stronger second quarter. Management has implemented cost-reduction programs across each location to mitigate the effect of lower sales and reduced margins to improve profitability in future quarters, while retaining our competitive advantage. The company's cash generation in the first quarter has been good allowing the repayment of $1.5 million of bank loans, half of which were voluntary repayments".

Simclar, Inc., with four North American manufacturing locations, and numerous regional sales locations, has been engaged in contract manufacturing of electronic and electro-mechanical products for OEMs for 32 years.

Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company's plans and strategies, expectations for future financial performance, and markets for the Company's products and services are forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company's customer concentration, debt covenants, competition, the effectiveness of our internal controls, and other risks detailed in the Company's most recent Annual Report on Form 10-K and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

Visit Simclar, Inc. at its website, http://www.simclar.com/ for more information about the Company.

Simclar, Inc.

CONTACT: Steph Donnelly, CFO of Simclar, Inc., +1-937-220-9777

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

SRA Awarded $10 Million Task Order from Department of Defense's Defense Threat Reduction Agency

FAIRFAX, Va., May 15 /PRNewswire-FirstCall/ -- SRA International, Inc. , a leading provider of technology and strategic consulting services and solutions to government organizations, today announced it has been awarded a task order to provide logistics, network support, software engineering and Web services for research and development operations for the Defense Threat Reduction Agency (DTRA). The task order, awarded in March under the U.S. Army Communications-Electronics Command (CECOM) Rapid Response (CR2) contract, has an estimated value of $10 million over two years.

DTRA's mission is to safeguard the U.S. and its allies from weapons of mass destruction by providing capabilities to reduce, eliminate and counter threats, and mitigate their effects.

"SRA is privileged to continue our support of DTRA's nationally critical mission," said SRA Senior Vice President of the National Security Sector, Pat Burke. "Through a partnership that focuses on innovation and excellence, SRA has been awarded this DTRA recompete contract for the third time. DTRA recognizes our ability to deliver results and seamlessly work with the agency's team as well as multiple contractors."

About SRA International, Inc.

SRA is a leading provider of technology and strategic consulting services and solutions -- including systems design, development, and integration; and outsourcing and managed services -- to clients in national security, civil government, and health care and public health markets. The Company also delivers business solutions for contingency and disaster response planning, information assurance, business intelligence, environmental strategies, enterprise architecture, infrastructure management, and wireless integration.

FORTUNE(R) magazine has chosen SRA as one of the "100 Best Companies to Work For" for nine consecutive years. The Company's 6,400 employees serve clients from its headquarters in Fairfax, Virginia, and offices around the world. For additional information on SRA, please visit http://www.sra.com/.

Any statements in this press release about future expectations, plans, and prospects for SRA, including statements about the estimated value of the contract and work to be performed, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this press release represent our views as of May 15, 2008. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to May 15, 2008.

SRA International, Inc.

CONTACT: Sheila S. Blackwell of SRA International, Inc.,
+1-703-227-8345, sheila_blackwell@sra.com

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

Frank Musso Joins Document Capture Technologies Board of DirectorsBrings over 30 Years of Financial and Management Consulting Expertise to Board

SAN JOSE, Calif., May 15 /PRNewswire-FirstCall/ -- Document Capture Technologies, Inc. (BULLETIN BOARD: DCMT) , a leading provider of secure imaging solutions, today announced that its Board of Directors has elected Frank Musso, CPA CFE, as a Director of the Company, effective May 15, 2008.

The Board of Directors has appointed Mr. Musso to serve as the Chair of the Audit Committee. Mr. Musso has over 30 years of financial experience and was an audit supervisor with KPMG, New York City. For the last 17 years, he has provided consulting and interim C-level management for a variety of public and private companies, in strategic development, mergers and acquisitions, corporate finance, and organizational structure. Mr. Musso has also served as a volunteer Treasurer, Board and Executive Committee member of two non profit organizations.

"We are delighted to welcome Frank to our Board and look forward to tapping into the financial and leadership experience that he brings to our Board of Directors," said David P. Clark, Chief Executive Officer "We expect that his consulting on Sarbanes-Oxley implementation and compliance and governance issues with publicly held companies will be very beneficial to us as we are in the midst of that process right now. We are confident that Frank's expertise will make him a valuable resource for the Company and a strong advocate for the interests of our shareholders."

About Document Capture Technologies, Inc.

Document Capture Technologies, Inc. (BULLETIN BOARD: DCMT.OB) , headquartered in San Jose, Calif., designs and manufactures document capture solutions for OEM customers worldwide. The company currently manufactures over 20 proprietary document capture products and has become one of the world's largest private-label manufacturers of USB-powered mobile document scanning devices. The Company's growing intellectual property portfolio in document capture includes four key patents with an additional one patent pending.

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Document Capture undertakes no obligation to update publicly any forward-looking statements.

Company Contact: Document Capture Technologies, Inc. David P. Clark (561) 835-4069 dclark@docucap.com Investor Contact: Hayden Communications, Inc. Peter Seltzberg (646) 415-8972 peter@haydenir.com

Document Capture Technologies, Inc.

CONTACT: David P. Clark of Document Capture Technologies, Inc.,
+1-561-835-4069, dclark@docucap.com; or investors, Peter Seltzberg of Hayden
Communications, Inc., +1-646-415-8972, peter@haydenir.com, for Document
Capture Technologies, Inc.

Document Capture Technologies Reports First Quarter 2008 Financial Results

SAN JOSE, Calif., May 15 /PRNewswire-FirstCall/ -- Document Capture Technologies, Inc. (BULLETIN BOARD: DCMT) , a leading provider of secure imaging solutions, today announced financial results for the first quarter ended March 31, 2008.

Net sales for the first quarter ended March 31, 2008 were $2.5 million, a decrease of 39%, compared to $4.1 million in net sales for the first quarter of 2007. The decrease in net sales in the quarter was primarily due to the timing and rescheduling of significant customer orders that resulted in a lower number of scanners shipped in the quarter and less favorable market conditions in the U.S. First quarter revenue comparisons were also impacted by pushed out orders from the fourth quarter of 2006 worth approximately $700,000 that were recognized in the first quarter of 2007.

David P. Clark, Chief Executive Officer, commented, "Though the domestic spending environment remains challenged for growth, and we have seen some of this impact on our customers' quarterly order patterns, we remain optimistic in our ability to grow our business and look forward to being able to report additional progress in dialogs with strategic partners, new product launches, and new initiatives in the coming months. The strength of our balance sheet continues to work to our advantage and our business generated over one million dollars in cash for the quarter, a positive swing of approximately two million dollars compared to last year's first quarter."

Cost of sales for the first quarter of 2008 were $1.8 million, resulting in lower gross profit of $733,000, or 29% gross margin, compared to gross profit of $1.6 million, or 40% gross margin, based on $2.5 million cost of sales for the first quarter of 2007. The decreased gross margin percentage in the first quarter of 2008 as compared to the first quarter of 2007 was directly attributable to the devaluation of the U.S. dollar against the Chinese Yuan and certain product mix factors.

William Hawkins, Chief Operating Officer commented, "While we did experience some softness in orders, particularly due to the general slow down in consumer IT spending, we expect to book many of these orders in the second quarter. Operational improvements and decreases in overhead due to the absence of HD expenses were a partial net offset to financial effects of the lower revenue. There is no shortage of opportunities in the marketplace for applications and integration of products like ours and we believe that our state-of-the-art products, product pipeline, and financial stability will enable us to meet our internal budgeting goals and resume growth throughout this year."

Total operating expenses for the first quarter of 2008 were $1.2 million, a decrease of $0.9 million, or 44%, from $2.1 million in the first quarter of 2007. Selling and marketing expenses decreased 37% to $251,000 from $400,000; general and administrative expenses decreased 22% to $710,000 from $915,000; and research and development expenses decreased 74% to $203,000 compared to $777,000 in the year-ago period. The decrease in selling and marketing expenses was primarily a result of the termination of HD display-related activities as a result of terminating that portion of the business in November 2007. The decrease in general and administrative expense was a result of lower stock-based compensation costs (a non-cash charge). The decrease in research and development expenses was primarily due to the termination of all R&D activities related to the HD display development efforts.

GAAP net loss for the quarter decreased by $328,000, or 41% to $(480,000) compared to GAAP net loss of $(808,000), for the first quarter 2007. GAAP net loss available to common stockholders was $(813,000) for the first quarter 2008 compared to a GAAP net loss of $(1.0) million for the first quarter of 2007. On a non-GAAP* basis, net income available to stockholders in the first quarter of 2008 was $48,000 compared to a non-GAAP net income of $357,000 in the first quarter of 2007. Non-GAAP net income excludes certain non cash items, including stock-based compensation cost, and the accounting for derivative instruments.

In the quarter the Company sold its remaining HD-related assets for a total of $600,000 and received an initial cash payment of $400,000 which was recorded as a gain on sale of assets in the first quarter ended March 31, 2008. A second cash payment of $150,000 was received on May 2, 2008 and will be recorded as a gain on sale of assets in the quarter ended June 30, 2008. The final $50,000 payment will be reflected in DCT's financial statements as a gain on sale of assets when the cash is received.

The Company had cash and cash equivalents of $1.3 million, working capital of $1.8 million, and a current ratio of 1.7 to 1 at March 31, 2008 as compared to cash and cash equivalents of $1.8 million, working capital of $3.0 million and a current ratio of 2.1 to 1 at December 31, 2007. Additionally, the Company converted all the outstanding Series A Preferred Stock, which eliminates any future cash obligations related to the Series A Preferred A Stock.

Mr. Clark concluded, "We expect that the majority of our growth in 2008 will come in the third and fourth quarters driven in large part by new products we are scheduled to introduce to the marketplace in that timeframe. However, because of the mixed effect of general economic conditions and lack of visibility in the markets we serve, the Company has concluded that it is prudent to refrain from offering financial guidance at this time."

*In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, DCT uses non-GAAP measures of net income (loss) and income (loss) per share, which are adjustments from results based on GAAP to exclude non-cash stock-based compensation costs in accordance with SFAS 123R and the non-cash accounting for derivative financial instruments. DCT's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of DCT's ongoing core operations and prospects for the future. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such deemed it important to provide all this information to investors.

Conference Call on May 15, 2008, at 4:30 PM ET:

Management will host a conference call today to discuss the audited results at 4:30 PM ET. Anyone interested in participating in the conference call should dial in to 800-762-8779 if calling within the United States or 480-629-9041 if calling internationally. A replay will be available until May 22, 2008, which can be accessed by dialing 800-406-7325 if calling within the United States or 303-590-3030 if calling internationally. Please use passcode 3876728 to access the replay.

The call will also be available live by webcast over the Internet and accessible at the company's corporate website at http://www.docucap.com/.

About Document Capture Technologies, Inc.

Document Capture Technologies, Inc. (BULLETIN BOARD: DCMT) , headquartered in San Jose, Calif., designs and manufactures document capture solutions for OEM customers worldwide. The company currently manufactures over 20 proprietary document capture products and has become one of the world's largest private-label manufacturers of USB-powered mobile document scanning devices. The Company's growing intellectual property portfolio in document capture includes four key patents with an additional one patent pending.

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Document Capture undertakes no obligation to update publicly any forward- looking statements.

Company Contact: Document Capture Technologies, Inc. David P. Clark (561) 835-4069 dclark@docucap.com Investor Contact: Hayden Communications, Inc. Peter Seltzberg (646) 415-8972 peter@haydenir.com tables follow DOCUMENT CAPTURE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) March 31, December 31, 2008 2007 ASSETS (Unaudited) (Audited) Current assets: Cash and cash equivalents $1,299 $1,770 Trade receivables 1,618 2,464 Inventories, net 1,194 1,400 Prepaid expenses and other current assets 29 32 Total current assets 4,140 5,666 Fixed assets, net 111 127 Total assets $4,251 $5,793 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Notes payable and related warrant liability $1,123 $1,239 Trade payables to related parties 715 578 Trade payables and other current liabilities 531 658 Accrued dividends on Series A 5% cumulative convertible preferred stock - 178 Total current liabilities 2,369 2,653 Long-term bank line of credit 700 2,021 Liability under derivative contracts 569 255 Total liabilities 3,638 4,929 Commitments and contingencies Convertible preferred stock, $.001 par value, 2,000 authorized: Series A 5% cumulative convertible preferred stock, 0 and 11.5 issued and outstanding at March 31, 2008 and December 31, 2007, respectively; liquidation value of $0 and $1,150 at March 31, 2008 and December 31, 2007, respectively - 1,074 Series B convertible preferred stock, 1.5 shares issued and outstanding at March 31, 2008 and December 31, 2007; liquidation value of $150 at March 31, 2008 and December 31, 2007 82 70 Stockholders' equity (deficit): Common stock $.001 par value, 50,000 authorized, 18,444 shares issued and outstanding at March 31, 2008 and 15,904 shares issued and 15,404 outstanding at December 31, 2007 (500 shares held in escrow) 18 15 Additional paid-in capital 31,944 30,323 Accumulated deficit (31,431) (30,618) Total stockholders' equity (deficit) 531 (280) Total liabilities and stockholders' equity (deficit) $4,251 $5,793 DOCUMENT CAPTURE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share amounts) Three Months Ended March 31, 2008 2007 Net sales $2,538 $4,127 Cost of sales 1,805 2,484 Gross profit 733 1,643 Operating expenses: Selling and marketing 251 400 General and administrative 710 915 Research and development 203 777 Total operating expenses 1,164 2,092 Operating loss (431) (449) Other income (expense): Change in fair value of derivative instruments (314) (368) Gain on sale of assets 400 - Other (133) 9 Total other income (expense) (47) (359) Net loss before income taxes (478) (808) Provision for income taxes 2 - Net loss (480) (808) Dividend on Series A and accretion of Series A and Series B preferred stock redemption value (102) (241) Deemed dividend on Series A preferred stock maturity and Conversion (231) - Net loss available to common stockholders $(813) $(1,049) Net loss per common share - basic and diluted $(0.05) $(0.04) Weighted average common shares outstanding: Basic and diluted 16,442 23,850 DOCUMENT CAPTURE TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) Three Months Ended March 31, 2008 2007 Operating activities: Net loss available to common stockholders $(813) $(1,049) Adjustments to reconcile net loss to net cash provided (used) by operating activities: Depreciation expense 16 9 Stock-based compensation cost - options 110 814 Fair value of common stock warrants issued for services rendered 34 4 Interest expense attributable to amortization of debt issuance costs 84 - Change in fair value of derivative instruments 314 368 Accretion of Series A and Series B preferred stock redemption value 88 220 Deemed dividend on Series A preferred stock 231 - Changes in operating assets and liabilities: Trade receivables 846 (689) Inventories 206 332 Prepaid expenses and other current assets 3 (78) Accrued dividends on Series A 5% cumulative convertible stock 13 21 Trade payables to related parties 137 (780) Trade payables and other current liabilities (127) (109) Cash provided (used) by operating activities 1,142 (937) Investing activities: Capital expenditures - (32) Cash used by investing activities - (32) Financing activities: Net (payments) advances on bank line of credit (1,321) 500 Payments on notes payable (300) - Proceeds from exercise of employee stock options 8 - Cash (used) provided by financing activities (1,613) 500 Net decrease in cash and cash equivalents (471) (469) Cash and cash equivalents at beginning of period 1,770 1,333 Cash and cash equivalents at end of period $1,299 $864 Non-cash investing and financing activities: Restricted common stock acquired from related party $- $2 Conversion of convertible preferred stock to common stock $1,339 $- Increase in the warrant liability of common stock warrants in connection with debt financing $100 $- DOCUMENT CAPTURE TECHNOLOGIES, INC. RECONCILIATION OF GAAP NET LOSS TO NON-GAAP PRO FORMA NET INCOME (in thousands) Three Months Ended March 31, 2008 2007 Net loss available to common stockholders (GAAP) $(813) $(1,049) Adjustments: Stock-based compensation cost - options 110 814 Fair value of common stock warrants issued for services rendered 34 4 Interest expense attributable to amortization of debt issuance costs 84 - Change in fair value of derivative instruments 314 368 Accretion of Series A and Series B preferred stock redemption value 88 220 Deemed dividend on Series A preferred stock 231 - Net income available to common stockholders (Non-GAAP Pro Forma) $48 $357

Document Capture Technologies, Inc.

CONTACT: David P. Clark of Document Capture Technologies, Inc.,
+1-561-835-4069, dclark@docucap.com; or Investors, Peter Seltzberg of Hayden
Communications, Inc., +1-646-415-8972, peter@haydenir.com, for Document
Capture Technologies, Inc.

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

Navarre Corporation to Announce Fourth Quarter and Fiscal Year 2008 Results on June 11, 2008

MINNEAPOLIS, May 15 /PRNewswire-FirstCall/ -- Navarre Corporation , a publisher and distributor of physical and digital home entertainment and multimedia software products, today announced that it will report its financial results for the fourth quarter and fiscal year 2008, ended March 31, 2008, following the closing of the market on Wednesday, June 11, 2008.

In conjunction with this press release, senior management will host a conference call to discuss the Company's results at 11:00 a.m. ET, Thursday, June 12, 2008. The call will be hosted by Mr. Cary Deacon, Chief Executive Officer.

The conference call can be accessed by dialing (866) 510-0704, conference participant passcode "40962599", ten minutes prior to the scheduled start time. In addition, this call will be simultaneously broadcast live over the internet and can be accessed in the "Investors" section of the Company's web site located at http://www.navarre.com/. Those wishing to access the call through the internet should go to the Company's web site 15 minutes prior to the start time to register and download any necessary software needed to listen to the call. A replay of the conference call will be available at the Company's web site following the call's completion.

About Navarre Corporation

Navarre Corporation is a publisher and distributor of physical and digital home entertainment and multimedia products, including PC software, DVD video, video games and accessories. Navarre develops, licenses and publishes home entertainment and multimedia content through its Encore, BCI, and FUNimation subsidiaries and has established distribution relationships with customers across a wide spectrum of retail channels. Navarre was founded in 1983 and is headquartered in New Hope, Minnesota. Additional information regarding Navarre can be found at http://www.navarre.com/.

Navarre Corporation

CONTACT: Navarre Investor Relations, +1-763-535-8333, ir@navarre.com

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

SXC Health Solutions to present at the FBR Capital Markets 12th Annual Spring Investor Conference

LISLE, IL, May 15 /PRNewswire-FirstCall/ -- SXC Health Solutions, Corp. ("SXC" or the "Company") , a leading provider of pharmacy benefits management services, announces that Mark Thierer, President and COO and Jeff Park, SVP Finance and CFO, will present at the FBR Capital Markets 12th Annual Spring Investor Conference at the Grand Hyatt in New York. SXC's presentation will take place on Thursday, May 29, 2008 at 10:30 am Eastern Time.

SXC's presentation will be webcast live. To access the webcast go to: http://www.wsw.com/webcast/fbr21/sxci/ About SXC Health Solutions, Corp.

SXC Health Solutions, Corp. is a leading provider of pharmacy benefits management (PBM) services and healthcare IT solutions to the healthcare benefits management industry. The Company's product offerings and solutions combine a wide range of software applications, application service provider (ASP) processing services and professional services, designed for many of the largest organizations in the pharmaceutical supply chain, such as Federal, provincial, and, state and local governments, pharmacy benefit managers, managed care organizations, retail pharmacy chains and other healthcare intermediaries. SXC is headquartered in Lisle, Illinois with 13 locations in the US and Canada. For more information please visit http://www.sxc.com/.

SXC Health Solutions, Inc.

CONTACT: Jeff Park, Chief Financial Officer, SXC Health Solutions, Inc.,
Tel: (630) 577-3206, investors@sxc.com; Dave Mason, Investor Relations, The
Equicom Group Inc., (416) 815-0700 ext. 237, dmason@equicomgroup.com; Susan
Noonan, Investor Relations - U.S., The SAN Group, LLC, (212) 966-3650,
susan@sanoonan.com

Synergx Systems Inc. Announces Second Quarter and Six Month Results

SYOSSET, N.Y., May 15 /PRNewswire-FirstCall/ -- Synergx Systems Inc. reported the following results for its second quarter and six-month period ended March 31, 2008 and 2007:

THREE MONTHS SIX MONTHS 2008 2007 2008 2007 Revenues $5,098,000 $4,064,000 $10,370,000 $7,719,000 (Loss) From Operations (382,000) (150,000) (323,000) (252,000) Interest (Expense) (35,000) (40,000) (83,000) (65,000) Gain on Equity Investment 83,000 83,000 (Loss) From Operations (417,000) (107,000) (406,000) (234,000) Net (Loss) (470,000) (154,000) (459,000) (224,000) (Loss) per Share, Basic and Diluted ($.09) ($.03) ($.09) ($.04) Weighted Average Common and Potential Dilutive Common Shares Outstanding 5,210,950 5,210,950 5,210,950 5,210,950

The increase in revenues during the three and six month periods ending March 31, 2008 was primarily due to higher shipments with respect to transit projects.

The loss from operations in the 2008 periods was impacted by the following:

-- Gross profit decreased notwithstanding increased revenues due to a shift in product mix. -- Selling, general and administrative costs were impacted by a $192,000 charge for separation costs related to the resignation of the President of the Company's principal operating subsidiary.

The net loss from operations, for the three and six months periods ending March 31, 2008, includes a $50,000 deferred income tax expense from a valuation allowance ($.01 per share) for future utilization of the Company's deferred tax asset. Also, no current income tax benefit was recorded for the 2008 operating loss and therefore the valuation allowance at March 31, 2008 was increased by an additional $114,000 (amounting to $.02 per share). In contrast, the net loss from operations for the three and six month periods ending March 31, 2007 included a $80,000 valuation allowance (amounting to $.02 per share in each period) regarding the future tax benefit to be realized from losses of Secure 724 LP.

For the three and six month periods ending March 31, 2007, the Company recorded a gain of $83,000 on the sale of its investment in Secure 724 LP.

The Company's order position, excluding service, at March 31, 2008 was $12,900,000 compared to $11,100,000 at September 30, 2007. Management believes that shipments and product mix will be more favorable in the second half of fiscal 2008 although there can be no assurance that the Company will secure the necessary releases to ship and/or that the favorable product mix will materialize.

The Company secured regulatory approval for its component and feature modernization of its proprietary life safety systems allowing the commencement of sales and marketing program in New York City.

The Company was required and did secure a waiver of the net worth covenant in its Credit Facility as at March 31, 2008. There can be no assurance that future waivers will be secured if required.

Synergx is engaged in the design, manufacture, marketing and service of a variety of data communication products and systems with applications in the fire alarm, life safety, security and communication industries. For further information about Synergx please go to our website at WWW.SYNERGXSYSTEMS.COM

"Safe Harbor" statement under the Private Securities Reform Act of 1995: This release contains forward-looking statements, which reflect management's current views of future events and operations. These forward-looking statements are based on assumptions and external factors, including assumptions relating to product pricing, competitive market conditions, financial data, and other risks or uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release and any changes in the assumptions of external factors could produce significantly different results.

Synergx Systems Inc.

CONTACT: John Poserina, Chief Financial Officer of Synergx Systems Inc.,
+1-516-433-4700

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

ProLink Holdings Corp. Reports Record Domestic 2008 First Quarter ResultsDomestic System Revenue Increases 90%Total Domestic Revenue Increases 40%

CHANDLER, Ariz., May 15 /PRNewswire-FirstCall/ -- ProLink Holdings Corp. (BULLETIN BOARD: PLKH) , the world's largest provider of digital advertising screens for the golf course market and Global Positioning golf course management systems, today announced financial results for its first quarter ended March 31, 2008.

Some of the highlights of the first quarter include: -- Domestic total revenue for the 2008 first quarter of $5.7 million increased 40% compared to $4.1 million in the 2007 first quarter. -- Record revenue from Domestic System sales -- 90% increase in domestic system sales to $4.8 million, as compared to $2.5 million in the year-earlier period. -- Media Ready courses increased by 38 courses to 626 worldwide. -- Service Revenue continues to grow, increasing 11% to $590,000 versus the 2007 first quarter. -- Operating expenses decline $727,000 or 17% to $3.6 million from $4.4 million in the first quarter of 2007. -- Improved Operating Results -- The Company generated EBITDA plus adjustment for non-cash 123R compensation of ($658,000) (a non-GAAP measure) which compares favorably to an EBITDA plus adjustment for non-cash 123R compensation of ($939,000) in the 2007 first quarter. -- Signed Sport Business Group as a new distributor in France. With over 400 golf courses, France is the largest Golf market in Europe. -- Financing-expanded senior term credit facility by $2.1 million and expanded working capital availability by $1 million in April, 2008.

"We are quite pleased by the continued strong growth in Domestic System Sales," said Lawrence D. Bain, CEO of ProLink Solutions. "Despite a challenging economic environment, customers in the United States continue to select ProLink Systems at record rates, as we further increase our leadership position in the industry. We are particularly encouraged by the fact that the 40% year over year growth generated in domestic sales during the first quarter follows the 90% growth in domestic system sales reported in the fourth quarter of 2007. The strong domestic results have helped to mitigate the impact of the loss of the distributor in Europe. Our ability to tightly control costs, as a result of the cost reduction programs we implemented in late 2007 and the first quarter of 2008, helped ProLink report improved results. We believe the full benefits of our cost reduction programs will be realized in Q2 and the remainder of 2008.

"We are confident that we have successfully implemented initiatives during Q1, 2008 that will continue to improve our results," continued Mr. Bain. "As we announced recently, we have completed agreements with our new distributor for France, Sport Business Group and anticipate announcements of other distributors shortly. We believe the signing of new distributors in Europe and other international areas will allow us to not only increase sales, but provide superior service for our embedded base. We expect to generate international revenues once again in the second quarter, which will increase in the third quarter, and return to or exceed previous levels in the near future. As we capitalize on our position as a leader in the new digital out of home arena, we are excited with the commitments and responses we are getting. We expect a strong 2008 revenue contribution from our advertising segment. The launch of our digital out of home industry research project has gotten encouraging buy-in and acceptance. That program goes live in early June and will continue during the subsequent months."

The Company reported first quarter revenue of $5.7 million compared to $6.7 million in the first quarter of 2007. First quarter revenue from New Domestic System sales and refinancings of $5.1 million compared to $3.8 million in the 2007 first quarter. International System Revenue declined from $2.7 million to $0.1 million, primarily as a result of the termination by the Company of its largest international distributor. Advertising revenue was $0.1 million compared to nominal revenue in the year earlier period. Service revenue increased from $0.5 million to $0.6 million. Gross margin for the 2008 first quarter was approximately 45%, compared to 44.0% in the 2007 first quarter.

The 2008 first quarter was impacted by approximately $425,000 due to expenses in complying with Sarbanes Oxley, annual audit fees and expenses related to the PGA merchandise shows. These costs are unique to the first quarter each year and will not be incurred for the remainder of the year. In addition, approximately $200,000 of litigation expense was realized in the first quarter as the Company pursued collection actions and patent infringement cases. The Company expects future quarters to be reduced to more customary levels.

For the 2008 first quarter, operating expenses were $3.7 million, compared to the 2007 first quarter of $4.4 million. Sales and marketing expenses were $0.9 million, compared to $1.5 million in the three months ended March 31, 2007. General and administrative costs were $1.9 million compared to the year-earlier period of $2.0 million. First quarter operating expenses include non-cash costs totaling $427,000 for stock-based compensation, depreciation and amortization, compared to non cash costs of $455,000 in the 2007 first quarter.

Net Income (Loss) -- First Quarter

The net income (loss) applicable to common stockholders for the three months ended March 31, 2008 was $(1.6) million or $(0.03) per share, compared to $(1.9) million or $(0.16) per share in the same period in 2007. The 2008 first quarter net loss includes $217,000 in non-cash 123R expense.

Consolidated Balance Sheets (dollars in 000's) As of March 31, 2008 December 31, 2008 Cash and cash equivalents $680 $2,829 Other current assets 10,717 8,390 Total current assets 11,397 11,220 Other assets 10,352 10,118 Total assets $21,748 $21,338 Total current liabilities 14,448 12,842 Long-term liabilities 4,278 4,632 Stockholders' equity 3,023 3,864 Total liabilities and stockholders' equity $21,748 $21,338 Results of Operations (dollars in 000's) For the Three Months Ended March 31, March 31, Change 2008 2007 $ % REVENUES: New System Installation Revenue - Domestic $4,800 $2,518 $2,282 90.6% New System Installation Revenue - International 79 2,684 (2,605) -97.1% Service Revenue 589 531 58 11.0% Finance Revenue, net 214 982 (767) -78.2% Advertising Revenue 56 19 37 n/a Total Revenue 5,739 6,734 (995) -14.8% Cost of Revenue 3,176 3,770 (594) -15.8% Gross Margin 2,563 2,964 (401) -13.5% Gross Margin Percentage 44.7% 44.0% 40.3% Operating Expenses 3,654 4,381 (727) -16.6% Income (Loss) from Operations (1,091) (1,417) 326 n/a Other (Income) Expense 494 456 38 n/a Net Loss (1,585) (1,874) 288 n/a Dividends on Series C Preferred Shares - 3,901 (3,901) Net Loss Applicable to Common Shareholders $(1,585) $(5,774) $4,189 n/a Basic Loss per Common Share $(0.03) $(0.16) $0.13 Diluted Loss per Common Share $(0.03) $(0.16) $0.13 (dollars in 000's) For the Three Months Ended March 31, March 31, EBITDA plus adjustments calculation: 2008 2007 Net Loss $(1,585) $(1,874) Deduct: Interest Expense (319) (120) Interest Expense - Warrant Expense (181) (360) Depreciation and amortization (210) (170) EBITDA (875) (1,224) FAS 123R stock-based compensation (217) (285) EBITDA plus adjustments $(658) $(939)

ProLink will hold a conference call at 4:30 p.m. eastern time today to discuss the results. Interested parties may dial (800) 930-1353 or (913) 312-1446. Please use passcode 9282041. The call will also be webcast and may be accessed at http://www.goprolink.com/investors.

A telephonic replay will also be available for 30 days by dialing (888) 203-1112 or (719) 457-0820. Please use passcode 9282041.

Safe Harbor

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about ProLink Holdings Corp. (ProLink). Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of ProLink's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements which are set forth in greater detail in the Company's filings with the Securities and Exchange Commission from time to time. The information set forth herein should be read in light of such risks. ProLink does not assume any obligation to update the information contained in this press release.

For more information about ProLink, visit http://www.goprolink.com/, call 480.753.2337 or email info@goprolink.com.

CONTACT: Daniel Mitchell Buffalo Communications 253.312.4536 dmitchell@billycaspergolf.com Investor Relations Contact: CEOcast, Inc. Gary Nash 212.732.4300 gnash@ceocast.com

ProLink Holdings Corp.

CONTACT: Daniel Mitchell of Buffalo Communications, +1-253-312-4536,
dmitchell@billycaspergolf.com; or Investor Relations, Gary Nash of CEOcast,
Inc., +1-212-732-4300, gnash@ceocast.com, both for ProLink Holdings Corp.

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

Integral Vision, Inc. Announces First Quarter 2008 Results

WIXOM, Mich., May 15 /PRNewswire-FirstCall/ -- Integral Vision, Inc. (OTC Bulletin Board: INVI), a leading global supplier of automated display inspection technology, today announced financial results for the first quarter ending March 31, 2008.

Business Highlights -- Integral Vision is beginning to see backlog increase as a result of new display technologies that are gaining market acceptance and recognition by the Liquid Crystal Display (LCD) industry. -- Integral Vision's largest customer this month announced a partnership with a large Taiwanese company to open a plant dedicated to the production of MEMS displays. Integral Vision expects to benefit from this expansion with equipment deliveries starting later this year. -- A major computer manufacturer has specified that all of its suppliers use Integral Vision's SharpEye(TM) system to test displays prior to customer delivery. This company has sent out over 200 invitations to its suppliers requesting that they visit our booth at the SID show in Los Angeles, California in late May to receive demonstrations. -- Integral Vision will deliver the first production inspection system for e-paper in the second quarter of this year. Interest for this product is strong based on the market acceptance of e-paper products. First Quarter 2008 Financial Results

Net revenues for the first quarter of 2008 were $9,000, a decrease of $307,000 from $316,000 in the first quarter of 2007. The resulting 2008 first quarter loss of $846,000 is $99,000 greater than the $747,000 loss for the first quarter of 2007.

Charles J. Drake, chairman and CEO of Integral Vision, Inc., commented, "Despite the low revenue for the first quarter, we continue to be very confident that 2008 will be a breakout year for the Company. Shipments will be stronger as the year progresses; and our bookings and quoting activity is greater than we have ever experienced in the past."

Drake concluded, "Our sales penetration with LCD manufacturers will also be significant this year, which we anticipate will lead to improved sales. In addition, the emergence of new display technologies, namely MEMS, e-paper and OLED, from existing Integral Vision customers will show significant sales traction for us later in 2008 and for several years going forward."

TO ACCESS THE LIVE CONFERENCE CALL

Integral Vision will host a live conference call at 4:30 p.m. (ET) on Thursday, May 15, 2008. To access the conference call, please call 303-262-2137 or 800-257-1836 approximately 5 to 10 minutes prior to the scheduled start time.

TO ACCESS A REPLAY OF THE CONFERENCE CALL

If you are unable to listen to the live conference call, it will be archived for replay. Shortly after the call, a telephonic replay will be available through Saturday, May 17, 2008, by dialing 303-590-3000 or 800-405- 2236. The confirmation code 11114300 is required for the telephonic replay.

COMPANY'S INVESTOR E-MAIL LIST

To be added to Integral Visions investor email list, please contact Laura Guerrant of Guerrant Associates atlguerrant@guerrantir.com.

ABOUT INTEGRAL VISION

Integral Vision, Inc. (BULLETIN BOARD: INVI) , an ISO 9001 registered firm, offers display inspection technology that provides analysis of functional and cosmetic defects in the display to assure quality in the manufacturing process as well as verification of the final product. Integral Vision has been inspecting displays since 1992 and is an industry leader committed to providing automated solutions to the quality issues Microdisplay, OLED and LCD manufacturers face in today's competitive marketplace. More information can be found at Website: http://www.iv-usa.com/.

"SAFE-HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such factors and uncertainties include, but are not limited to: competitive conditions in the Company's markets and the effect of competitive products and pricing; technological development by the Company, its customers and its competition; the Company's available cash and access to debt and equity financing; and general economic conditions and conditions in the specific industries in which the company has significant customers. As a result, the Company's results may fluctuate. Additional information concerning risk factors that could cause actual results to differ materially from those projected in the forward-looking statements are contained in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's best estimates as of the date of this press release. The Company assumes no obligation to update such estimates except as required by the rules and regulations of the Securities and Exchange Commission.

FINANCIAL INFORMATION

The summary financial information contained in this press release, including the following information in tabular form, should be read in conjunction with the more detailed information contained in the Company's Form 10-Q filed with the Securities and Exchange Commission on May 15, 2008, and Company's Annual Report on Form 10-KSB filed with the Securities and Exchange Commission on March 31, 2008.

-Tables follow- Balance Sheet Integral Vision, Inc. March 31, 2008 (unaudited) March 31 2008 (in thousands) Cash $231 Accounts receivable 98 Inventories 443 Other current assets 106 Total current assets 878 Property and equipment Building improvements 4 Production and engineering equipment 234 Furniture and fixtures 80 Computer equipment 190 Marketing/demonstration equipment 139 647 Less accumulated depreciation (447) Net property and equipment 200 Other assets - net of accumulated amortization of $1,496,000 58 58 $1,136 Liabilities and Stockholders' Deficit Current liabilities Notes payable $3,842 Accounts payable 263 Customer deposits 370 Accrued compensation and related costs 288 Accrued interest 274 Accrued product warranty 79 Other accrued liabilities 71 Deferred revenue for product sales 89 Total current liabilities 5,276 Long-term debt - Total liabilities 5,276 Stockholders' deficit Preferred stock, 400,000 shares authorized; none issued - Common stock, without par value, stated value $.20 per share; 50,000,000 shares authorized; 29,566,409 shares issued and outstanding 5,913 Additional paid-in capital 39,448 Accumulated deficit (49,501) Total stockholders' deficit (4,140) $1,136 Statements of Operations Integral Vision, Inc. Three Months Ended March 31, 2008 2007 (Unaudited) Revenues: (In thousands, except per share data) Net product sales $9 $316 Net revenue from product development agreements - - Total net revenues 9 316 Costs of sales: Costs of sales for products 43 255 Cost of sales for product development agreements - - Depreciation and amortization 4 6 Total costs of sales 47 261 Gross margin (loss) (38) 55 Other costs and expenses: Marketing 148 149 General and administrative - net 332 318 Engineering and development - net 232 316 Total other costs and expenses 712 783 Operating loss (750) (728) Other income (2) 5 Interest expense (94) (24) Net loss $(846) $(747) Basic and diluted loss per share: Net loss $(0.03) $(0.03) Weighted average number of shares of common stock and common stock equivalents, where applicable 29,566 29,507

Integral Vision, Inc.

CONTACT: Corporation: Charles J. Drake, Integral Vision, Inc.,
+1-248-668-9230, cdrake@iv-usa.com; Investors and Media: Laura Guerrant,
Guerrant Associates, +1-808-882-1467, lguerrant@guerrantir.com

Web site: http://www.iv-usa.com/

Novell Appoints Rick Crandall Chairman of Its Board of Directors

WALTHAM, Mass., May 15 /PRNewswire-FirstCall/ -- Novell, Inc. today announced the appointment of Richard L. Crandall to the position of non-Executive Chairman of its Board of Directors. Mr. Crandall succeeds Thomas G. Plaskett, who has served as non-Executive Chairman of Novell's Board of Directors since 2006. Mr. Plaskett will continue to serve on Novell's Board.

Mr. Crandall is a founding Managing Director of Arbor Partners, a high technology venture capital firm, a position he has held since November 1997. Mr. Crandall also serves as the Chairman of the Enterprise Software Roundtable, an organization of the senior corporate leadership of the 35 largest software companies, which he founded in July 1994. Since November 2006, Mr. Crandall has served as Chairman of Pelstar LLC, a manufacturer of medical weighing and measurement devices. Since May 2005, Mr. Crandall has served as Managing Partner of Alpine Capital Partners, LLC, a real estate developer. Mr. Crandall served as the Chairman of Giga Information Group, an IT research and advisory firm, from July 2002 until February 2003, and was a board member and special advisor of Giga from its founding in April 1996 until February 2003. Prior to that, Mr. Crandall was a founder of Comshare, Inc., a decision support software company, and served as its Chief Executive Officer from April 1970 until April 1994 and its Chairman from April 1994 until April 1997. Mr. Crandall is the technology advisor to the U.S. Chamber of Commerce, and is also a director of Diebold, Inc. and of the Dreman/Claymore Dividend & Income Fund, a management investment company.

About Novell

Novell, Inc. delivers the best engineered, most interoperable Linux* platform and a portfolio of integrated IT management software that helps customers around the world reduce cost, complexity and risk. With our infrastructure software and ecosystem of partnerships, Novell harmoniously integrates mixed IT environments, allowing people and technology to work as one. For more information, visit http://www.novell.com/.

Novell is a registered trademark of Novell, Inc. in the United States and other countries. *Linux is a registered trademark of Linus Torvalds. All other third-party trademarks are the property of their respective owners.

Novell, Inc.

CONTACT: Press, Kevan Barney, +1-801-861-2931, kbarney@novell.com, or
Investor Relations, Susan Walker White, 1-800-317-3195, swhite@novell.com,
both of Novell, Inc.

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

Exar Corporation Reports Fiscal 2008 Fourth Quarter and Year End Results

FREMONT, Calif., May 15 /PRNewswire-FirstCall/ -- Exar Corporation , today reported financial results for its fiscal 2008 fourth quarter and year-ended, March 30, 2008.

Revenue

Net sales for the fourth quarter of fiscal 2008 were $28.3 million compared to net sales of $25.2 million for the prior quarter and to net sales of $15.7 million for the same period last year. Net sales for fiscal year 2008 were $89.7 million compared to net sales of $68.5 million for fiscal year 2007. Fiscal 2008 fourth quarter net sales exclude approximately $2.5 million of shipments (1) from Sipex distributor inventories held prior to the acquisition of Sipex and (2) to the Company's two primary distributors as a result of the change in revenue recognition to the sell-through method.

CEO Comment

"I welcome this opportunity and I am firmly committed to increasing revenue and achieving operational profitability," said Pete Rodriguez, the Company's president and chief executive officer. "We continue to be operationally cash flow positive, have strong customer engagements and provide proven technologies to capitalize on unique market opportunities. I am encouraged by our team's ongoing measures to continue to improve operations and I am optimistic about our prospects going forward."

Gross Margin

On a GAAP basis, the gross margin for the fourth quarter of fiscal 2008 was 37.9% as compared to 30.0% for the prior quarter. On a non-GAAP basis, the gross margin for the fourth quarter of fiscal 2008 was 45.3% as compared to 47.3% for the prior quarter. Both the GAAP and Non-GAAP gross margins for the fourth quarter are net of costs of approximately two percent as a result of a product issue which is being addressed.

Impairment Charge

The results for the fiscal 2008 fourth quarter and year include a non-cash charge of $165.2 million, for the impairment of goodwill and other intangible assets related to the acquisition of Sipex. This charge resulted from the evaluation of the Company's carrying value of goodwill and other intangible assets which was required under FASB Statements No. 142 and No. 144 as the Company's market capitalization was below its net book value for an extended period. This impairment charge does not affect the Company's business, its operations or its cash position.

Net Income

The GAAP net loss for the fiscal quarter ended March 30, 2008 was $172.4 million, or $3.77 loss per share, which included the $165.2 million impairment charge, compared to a net loss of $11.7 million, or $0.24 loss per share, in the previous quarter and net income of $1.3 million, or $0.03 diluted earnings per share, for the fiscal quarter ended March 31, 2007. The non-GAAP net loss for the fiscal quarter ended March 30, 2008 was $1.7 million, or $0.04 loss per share, as compared to the non-GAAP net loss of $1.8 million, or $0.04 loss per share, in the previous quarter, and non-GAAP net income of $2.7 million, or $0.07 diluted earnings per share, in the fourth quarter of fiscal 2007.

The GAAP net loss for fiscal year 2008 was $195.9 million, or $4.55 loss per share, as compared to net income of $8.0 million, or $0.22 diluted earnings per share, for the previous fiscal year. The non-GAAP net income for fiscal 2008 was $8.5 million, or $0.19 diluted earnings per share, as compared to non-GAAP net income of $13.5 million, or $0.37 diluted earnings per share, for the previous fiscal year.

Cash Flow

During the fourth quarter of fiscal 2008, the Company's cash, cash equivalents and short-term marketable securities decreased by $34.5 million to approximately $269 million primarily as a result of $35.0 million used to repurchase approximately 4.5 million shares of the Company's common stock at an average price of $7.77 per share. The Company generated cash from operations of $3.4 million in the March 2008 quarter and $13.8 million in fiscal year 2008.

Current Business Outlook

For the first quarter of fiscal 2009 ending June 29, 2008, the Company projects that net sales will increase to between $29.0 million and $31.5 million. The gross margin is expected to be between 44% and 46% on a GAAP basis and between 47% and 49% on a non-GAAP basis. Operating expenses are expected to be between $19.2 million and $19.7 million on a GAAP basis and between $17.2 million and $17.7 million on a non-GAAP basis.

The Company's statements about its future financial performance, product introductions or operating plans are based on current information and expectations and the Company undertakes no duty to update such statements. These statements are forward-looking and actual results could differ materially due to various risks and uncertainties, some of which are described herein.

Generally Accepted Accounting Principles

The Company reports its financial results in accordance with GAAP. Additionally, the Company from time to time supplements reported GAAP financials with non-GAAP measures which are included in related press releases and reports furnished to the SEC, copies of which are available at the Company's website: http://www.exar.com/ or the SEC's website at: http://www.sec.gov/. For the period presented, we are disclosing non-GAAP gross margins, non-GAAP research and development expenses, non-GAAP selling, general and administrative expenses, non-GAAP operating expenses, non-GAAP operating income (loss), non-GAAP net income (loss), and non-GAAP diluted earnings (loss) per share, which are adjusted to exclude from our GAAP results all stock-based compensation expense, amortization of acquired intangible assets, fair value adjustment of acquired inventories, merger-related costs, in-process research and development, separation costs of executive officers goodwill and other intangible asset impairment, other than temporary loss on long-term investments, income tax effects, charge to establish deferred tax asset valuation allowance and an income tax benefit from the closure of federal tax audit. These non-GAAP measures are presented in part to enhance the understanding of the Company's historical financial performance and comparability between reporting periods. The Company believes the non-GAAP presentation, when shown in conjunction with the corresponding GAAP measures, provide relevant and useful information to analysts, investors, management and other interested parties following the semiconductor industry. For its internal purposes, the Company uses the foregoing non-GAAP measures to evaluate performance across reporting periods, determine certain employee benefits as well as plan for and forecast the Company's future periods. These non-GAAP measures are not in accordance with, or an alternative for measures prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that 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. These measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures.

Results Conference Call

The Company invites investors, financial analysts, and the general public to listen to its conference call discussing the Company's financial results for the fourth quarter of fiscal 2008, today, Thursday, May 15, 2008 at 1:30 p.m. PDT/4:30 p.m. EDT. To access the conference call, please dial (888) 428-4479 by 1:20 p.m. PDT/4:20 p.m. EDT and use conference ID number 920564. In addition, a live webcast will also be available. To access the webcast, please go to the Company's Investor Relations Homepage at: http://www.exar.com/. A replay of the call will be available starting at 5:00 p.m. PDT/8:00 p.m. EDT this afternoon until 11:59 p.m. PDT on May 22, 2008/2:59 a.m. EDT on May 23, 2008. To access the replay, please dial (800) 475-6701 and use conference ID number 920564.

Product Line Highlights Power Management

Exar Launches 1.5 MHz, 600mA Step-Down Inductive Converter -- Supports Systems with Universal Serial Bus (USB) Interface

http://www.exar.com/Common/Content/News.aspx?id=3630

Exar Offers Light Emitting Diode (LED) Driver with Inductive Boost Capabilities -- Ideal for Space Constrained Backlighting Applications

http://www.exar.com/Common/Content/News.aspx?id=3592

Exar's Light Emitting Diode (LED) Driver Delivers Reduced Board Space Requirements Critical in the Design of Handheld Electronics

http://www.exar.com/Common/Content/News.aspx?id=3568

Exar Announces New PowerBlox(TM) Solution -- 29V Input, 4A Peak Output Current Buck Regulator in 8-Lead Surface Mount Power Package

http://www.exar.com/Common/Content/News.aspx?id=3538

Exar Continues to Provide New Solutions for Driving High Power Light Emitting Diodes (LEDs)

http://www.exar.com/Common/Content/News.aspx?id=3504

Exar Releases First in a Family of Boost Controllers Supporting Light Emitting Diode (LED) Lighting and General DC/DC Conversion

http://www.exar.com/Common/Content/News.aspx?id=3288 Communications

Exar Extends Market Proven EXstor(TM) Storage Product Family with Two eSATA Compliant Products: 2:1 eSATA Port Selector and 2:2 eSATA Two Port Selector/Multiplier Combo

http://www.exar.com/Common/Content/News.aspx?id=3578 Interface Exar Adds 5V RS-485/RS-422 Half-Duplex Transceiver -- http://www.exar.com/Common/Content/News.aspx?id=3278 Safe Harbor Statement

The Company's statements about its future financial performance, anticipated results in connection with the acquisition of Sipex Corporation, changes in gross margins, revenues and operating expenses, uncertain timing of expense reductions or synergies associated with corporate restructuring, internal initiatives, distribution and OEM trends, supply chain issues among others, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include global economic, industry and market conditions, such as customer and distributor relationships; limited visibility associated with customer demand for the Company's products; the possible loss of, or decrease in orders from, an important customer; adjustments in interest rates and cash balances; vendor capacity or throughput constraints; possible disruption in commercial activities as a consequence of terrorist activity, natural disasters, armed conflict or health issues; successful development, market acceptance and demand for the Company's products, including those for which the Company has achieved design wins; competitive factors, such as pricing or competing solutions; customer ordering patterns; accounting considerations related to option expensing or merger related issues; the level of inventories maintained at the Company's OEMs and distributors; and the Company's successful execution of internal performance plans, as well as the other risks detailed from time to time in the Company's SEC reports, including the Annual Report on Form 10-K for the year ended March 31, 2007 and quarterly reports on Form 10-Q for the quarters ended June 30, 2007, September 30, 2007 and December 30, 2007, as well as those risks set forth in Sipex Corporation's Annual Report on Form 10-K for the year ended December 31, 2006 and its quarterly report on Form 10-Q for the quarter ended June 30, 2007.

About Exar

Exar Corporation is Powering Connectivity by delivering highly differentiated silicon solutions empowering products to connect. With distinctive knowledge in analog and digital technologies, Exar enables a wide array of applications such as portable devices, home media gateways, communications systems, and industrial automation equipment. Exar has locations worldwide providing real-time system-level support to drive rapid product innovation. For more information about Exar visit: http://www.exar.com/.

EXAR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) MARCH 30, MARCH 31, 2008 2007 ASSETS Current assets: Cash and cash equivalents $122,016 $119,809 Short-term marketable securities 146,844 236,270 Accounts receivable (net of allowances of $739 and $322) 9,943 4,028 Accounts receivable, related party (net of allowances of $1,063 and $816) 3,712 338 Inventories 14,201 4,779 Interest receivable and prepaid expenses 3,889 5,262 Deferred income taxes, net 507 809 Total current assets 301,112 371,295 Property, plant and equipment, net 46,130 25,404 Goodwill 47,626 5,190 Intangible assets, net 26,019 5,451 Other non-current assets 697 562 Long-term investments 2,636 2,670 Deferred income taxes, net - 10,602 Total assets $424,220 $421,174 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts Payable $8,801 $2,139 Accrued compensation and related benefits 5,744 3,418 Deferred income and allowances on sales to distributors 3,253 - Deferred income and allowances on sales to distributors, related party 9,118 - Other accrued expenses 8,136 3,150 Income tax payable - 5,520 Total current liabilities 35,052 14,227 Long-term lease financing obligations 16,379 - Other non-current obligations 1,712 191 Total liabilities 53,143 14,418 Total stockholders' equity Preferred stock, $.0001 par value; 2,250,000 shares authorized; no shares outstanding - - Common stock, $.0001 par value; 100,000,000 shares authorized; 43,928,762 and 36,154,815 shares issued and outstanding at March 30, 2008 and March 31, 2007, respectively (net of treasury shares) 4 4 Additional paid-in capital 702,217 451,084 Accumulated other comprehensive income 1,873 76 Treasury stock at cost, 18,288,021 and 9,015,257 shares at March 30, 2008 and March 31, 2007, respectively (235,537) (142,572) Retained Earnings (97,480) 98,164 Total stockholders' equity 371,077 406,756 Total liabilities and stockholders' equity $424,220 $421,174 EXAR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) THREE MONTHS ENDED TWELVE MONTHS ENDED MARCH 30, DECEMBER 30, MARCH 31, MARCH 30, MARCH 31, 2008 2007 2007 2008 2007 Net sales $18,356 $20,691 $12,233 $67,925 $54,580 Net sales, related party 9,906 4,516 3,427 21,818 13,922 Total net sales 28,262 25,207 15,660 89,743 68,502 Cost of sales: Cost of sales 10,798 12,422 4,045 33,773 17,041 Cost of sales, related party 5,244 2,679 1,045 10,406 3,967 Amortization of purchased intangible assets 1,515 2,539 240 5,452 960 Total cost of sales 17,557 17,640 5,330 49,631 21,968 Gross profit 10,705 7,567 10,330 40,112 46,534 Operating expenses: Research and development 8,259 8,890 6,325 30,660 25,838 Selling, general and administrative 11,793 12,071 6,834 37,899 24,925 Goodwill and other intangible asset impairment 165,191 - - 165,191 - Acquired in-process research and development - - - 8,800 - Total operating expenses 185,243 20,961 13,159 242,550 50,763 Loss from operations (174,538) (13,394) (2,829) (202,438) (4,229) Other income, net: Interest income and other, net 2,922 3,377 4,294 15,266 16,526 Other than temporary loss on long-term investments (142) - - (591) (957) Total interest and other income, net 2,780 3,377 4,294 14,675 15,569 Income (loss) before income taxes (171,758) (10,017) 1,465 (187,763) 11,340 Provision for income taxes 640 1,665 210 8,116 3,316 Net income (loss) $(172,398) $(11,682) $1,255 $(195,879) $8,024 Earnings (loss) per share: Basic earnings (loss) per share $(3.77) $(0.24) $0.03 $(4.55) $0.22 Diluted earnings (loss) per share $(3.77) $(0.24) $0.03 $(4.55) $0.22 Shares used in the computation of earnings (loss) per share: Basic 45,712 49,301 36,254 43,090 36,255 Diluted 45,712 49,301 36,369 43,090 36,480 EXAR CORPORATION AND SUBSIDIARIES SUPPLEMENTAL RECONCILIATION OF GAAP TO NON-GAAP RESULTS (In thousands, except per share amounts) (Unaudited) THREE MONTHS ENDED TWELVE MONTHS ENDED MARCH 30, DECEMBER 30, MARCH 31, MARCH 30, MARCH 31, 2008 2007 2007 2008 2007 GAAP gross margin 37.9% 30.0% 66.0% 44.7% 67.9% Stock-based compensation 0.5% 1.4% 0.1% 0.7% 0.1% Amortization of acquired intangible assets 5.4% 10.1% 1.5% 6.1% 1.4% Fair value adjustment of acquired inventories 1.5% 5.8% - 2.5% - Merger-related costs 0.1% - - 0.1% - Non-GAAP gross margin 45.3% 47.3% 67.6% 54.0% 69.5% GAAP research and development expenses $8,259 $8,890 $6,325 $30,660 $25,838 Stock-based compensation 270 389 218 1,207 1,181 Merger-related costs 131 9 - 393 - Non-GAAP research and development expenses $7,858 $8,492 $6,107 $29,060 $24,657 GAAP selling, general and administrative expenses $11,793 $12,071 $6,834 $37,899 $24,925 Stock-based compensation 884 1,035 831 3,366 3,077 Amortization of acquired intangible assets 266 474 - 936 - Merger-related costs 717 509 - 1,992 - Separation costs of executive officers - 465 985 465 1,649 Non-GAAP selling, general and administrative expenses $9,926 $9,588 $5,018 $31,140 $20,199 GAAP operating expenses $185,243 $20,961 $13,159 $242,550 $50,763 Stock-based compensation 1,154 1,424 1,049 4,573 4,258 Amortization of acquired intangible assets 266 474 - 936 - In-process research and development - - - 8,800 - Merger-related costs 848 518 - 2,385 - Separation costs of executive officers - 465 985 465 1,649 Goodwill and other intangible asset impairment 165,191 - - 165,191 - Non-GAAP operating expenses $17,784 $18,080 $11,125 $60,200 $44,856 GAAP operating income (loss) $(174,538) $(13,394) $(2,829) $(202,438) $(4,229) Stock-based compensation 1,282 1,785 1,063 5,196 4,349 Amortization of acquired intangible assets 1,781 3,013 240 6,388 960 Fair value adjustment of acquired inventories 432 1,458 - 2,231 - In-process research and development - - - 8,800 - Merger-related costs 884 518 - 2,437 - Separation costs of executive officers - 465 985 465 1,649 Goodwill and other intangible asset impairment 165,191 - - 165,191 - Non-GAAP operating income (loss) $(4,968) $(6,155) $(541) $(11,730) $2,729 GAAP net income (loss) $(172,398) $(11,682) $1,255 $(195,879) $8,024 Stock-based compensation 1,282 1,785 1,063 5,196 4,349 Amortization of acquired intangible assets 1,781 3,013 240 6,388 960 Fair value adjustment of acquired inventories 432 1,458 - 2,231 - In-process research and development - - - 8,800 - Merger-related costs 884 518 - 2,437 - Separation costs of executive officers - 465 985 465 1,649 Goodwill and other intangible asset impairment 165,191 - - 165,191 - Other than temporary loss on long-term investments 142 - - 591 957 Income tax effects 1,035 2,691 (859) 6,694 (2,394) Charge to establish deferred tax asset valuation allowance - - - 8,323 - Income tax benefit from the closure of federal tax audit - - - (1,933) - Non-GAAP net income (loss) $(1,651) $(1,752) $2,684 $8,504 $13,545 GAAP diluted earnings (loss) per share $(3.77) $(0.24) $0.03 $(4.55) $0.22 Stock-based compensation 0.03 0.04 0.03 0.12 0.12 Amortization of acquired intangible assets 0.04 0.06 0.01 0.16 0.03 Fair value adjustment of acquired inventories 0.01 0.03 - 0.05 - In-process research and development - - - 0.21 - Merger-related costs 0.02 0.01 - 0.06 - Separation costs of executive officers - 0.01 0.03 0.01 0.05 Goodwill and other intangible asset impairment 3.61 - - 3.80 - Other than temporary loss on long-term investments - - - 0.01 0.03 Income tax effects 0.02 0.05 (0.02) 0.16 (0.07) Charge to establish deferred tax asset valuation allowance - - - 0.20 - Income tax benefit from the closure of federal tax audit - - - (0.04) - Non-GAAP diluted earnings (loss) per share $(0.04) $(0.04) $0.07 $0.19 $0.37 Shares used in diluted earnings (loss) per share --- GAAP 45,712 49,301 36,369 43,090 36,480 The effect of dilutive potential common shares due to reporting Non-GAAP net income - - 95 540 137 The effect of removing stock-based compensation expense under SFAS 123R for Non-GAAP presentation purpose - - (115) - (225) Shares used in diluted earnings per (loss) share -- Non-GAAP 45,712 49,301 36,349 43,630 36,392 Note: certain amounts may not total due to rounding

Exar Corporation

CONTACT: J. Scott Kamsler, Sr. Vice President and CFO of Exar
Corporation, +1-510-668-7110

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

Informatica to Present at Seventh Annual JMP Securities Research Conference

REDWOOD CITY, Calif., May 15 /PRNewswire-FirstCall/ -- Informatica Corporation , the leading independent provider of data integration software, today announced that Earl Fry, executive vice president and CFO, will present a corporate overview at the Seventh Annual JMP Securities Research Conference on Monday, May 19, 2008 at 8:00a.m. PDT.

A live audio Web cast of the event will be available at http://www.informatica.com/investor. An audio web cast archive of the events will be available until 12:00 p.m. PDT on May 26, 2008.

About Informatica

Informatica Corporation is the leading independent provider of enterprise data integration software. Using Informatica products, companies can access, integrate, migrate and consolidate enterprise data across systems, processes and people to reduce complexity, ensure consistency and empower the business. More than 3,000 companies worldwide rely on Informatica for their end-to-end enterprise data integration needs. For more information, call 650-385-5000 (800-653-3871 in the U.S.), or visit http://www.informatica.com/.

Note: Informatica is a registered trademark of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.

Informatica Corporation

CONTACT: Deborah Wiltshire, Public Relations, +1-650-385-5360,
dwiltshire@informatica.com, or Stephanie Wakefield, Investor Relations,
+1-650-385-5261, swakefield@informatica.com, both of Informatica
Corporation

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

Siemens Breaks Its Own Record for Largest Light Rail Vehicle OrderSalt Lake City Orders 77 S70 LRVs Valued at Over $277M

SACRAMENTO, Calif., May 15 /PRNewswire/ -- Siemens Transportation Systems Inc. (STS) received notice to proceed from Salt Lake City's Utah Transit Authority (UTA) to build and deliver 77 S70 light rail vehicles over a four-year period. The $277M contract surpasses the order volume from Siemens' most recent win in Denver for 55 light rail vehicles. This is UTA's fourth order with Siemens, bringing the total number of Siemens vehicles for Salt Lake City to 117.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080515/NYTH160 ) (Logo: http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO )

"Utah is the fifth fastest growing state in the U.S. and the expansion of our rail system brings us closer to creating a more sustainable and less congested metro area for us and the next generation," said John Inglish, UTA General Manager. The UTA chose the S70 model similar to those operating in San Diego, CA and Charlotte, NC but their version will be a shorter vehicle at 81.37 ft.-long. This modification will enable UTA to maximize the use of their passenger platforms and operate 4-car train consists.

UTA's FrontLines ambitious rail expansion to build 70 miles of rail in seven years includes four new light rail lines, and vehicles will be delivered in time for the start of revenue service on each line. All vehicles are scheduled to be ready for service by 2012 and the new contract includes an option for up to an additional 180 cars.

"Winning the Salt Lake City UTA contract demonstrates the confidence our customers have in Siemens and our products well into the future and further enables us to reinforce our long-term commitment to the riding public," said Oliver Hauck, president and CEO of Siemens Transportation Systems Inc.

Siemens light rail manufacturing facility in Sacramento, CA, will build the S70 low floor vehicles from start to finish. Contrary to recent economic trends, which have manufacturing jobs on the decline, the Sacramento STS facility workforce has steadily grown by 30 percent since completing its car shell manufacturing expansion two years ago.

About Siemens Transportation Systems Inc. (U.S.)

Siemens Transportation Systems Inc. (STSI), headquartered in Sacramento, CA, is the number one manufacturer of light rail vehicles in North America having sold more than 1,000 light rail vehicles over the past 20 years. STS supplies rail vehicles, systems and services to public transit agencies and Class 1 Railroads to help move people and goods efficiently and timely. As a leader in delivering complete mobility solutions, STS also offers innovative rail technologies like energy storage management systems that can help cut greenhouse gas emissions by as much as 175 tons annually. Its product portfolio includes traction electrification, propulsion systems, rail automation, rolling stock and integrated services for light rail, heavy rail, commuter rail and locomotives. For more information, please visit: http://www.mobility.siemens.com/usa .

About Siemens

Siemens AG is a global powerhouse in electronics and electrical engineering, and operates in the industry, energy and healthcare sectors. For more than 160 years, Siemens has built a reputation for leading-edge innovation and the quality of its products, services and solutions. With nearly 400,000 employees in 190 countries, Siemens reported worldwide sales of $96.6 billion in fiscal 2007. With its U.S. corporate headquarters in New York City, Siemens in the USA reported sales of $19.8 billion and employs approximately 70,000 people throughout all 50 states and Puerto Rico. For more information on Siemens in the United States, visit http://www.usa.siemens.com/ .

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080515/NYTH160
http://www.newscom.com/cgi-bin/prnh/20070904/SIEMENSLOGO
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN14
PRN Photo Desk, photodesk@prnewswire.com Siemens Transportation Systems Inc.

CONTACT: Lisa Quirindongo of Dentsu Communications, +1-203-430-3550,
lquirindongo@dcinyc.com; or Xanthi Pinkerton of Siemens Transportation
Systems, +1-916-525-2855, xanthi.pinkerton@siemens.com

Web site: http://www.mobility.siemens.com/usa
http://www.usa.siemens.com/
http://www.sts.siemens.com/

PAYI Reports First Quarter Results

BARNSTEAD, N.H., May 15 /Xinhua-PRNewswire-FirstCall/ -- Pay88 Inc. announced financial results for its first quarter ended March 31, 2008. The company posted net sales of approximately $5.5 M USD, or a 400 percent increase in net sales in comparison with the year-ago quarter. The gross profit margin for Pay88 was also up approximately 60 percent in comparison with the margins recorded in the same quarter last year.

Over the past year Pay88 continued to grow and develop their online distribution network through its subsidiary, Qianbao. Their websites, http://www.iamseller.com/ and http://www.17logo.com/ have enabled the Company to quickly penetrate the market and gain a foothold in the distribution and sale of various products to both consumers and retailers. The revenues generated for this past quarter were predominately from online product sales, primarily, prepaid multi-player online game cards.

"We are incredibly pleased with the increase in sales and profits for this quarter," said Guo Fan, President and CEO of Pay88. "And I feel the momentum building. We are constantly working on increasing our distribution channels. We are definitely moving in a positive direction with the distribution. In addition, we have been working hard to be able to continue offering our consumers more products. We are currently engaged in agreements with numerous suppliers and we have the ability to continue to grow our sales".

Over the next twelve months, Pay88 intends to continue to develop other internet distribution websites and increase their overall product line.

Certain information contained in this Press Release, including without limitation, statements related to Pay88's outlook for 2008, which are based on current management's expectations, is considered forward looking statements. Investors and prospective investors are cautioned about significant factors which have in some cases affected our actual results and are in the future likely to affect our actual results and cause them to differ materially from those expressed in any such forward-looking statements. Actual results may also differ as a result of factors over which we have no control, including general economic and business conditions; earthquakes, effects of war or terrorists acts on the capital markets or the Company's activities. Please refer to the Risk Factors contained in the Company's Annual Report on Form 10- K filed with the Securities and Exchange Commission on March 31, 2008.

For more information, please contact: Pay88 Inc. Tel: 603-776-6044

Pay88 Inc.

CONTACT: Pay88 Inc. at +1-603-776-6044

Web site: http://www.iamseller.com/
http://www.17logo.com/

Sears.com Expands Online Shopping Experience With Virtual Showroom of Art, Books, Movies, Software and Music

HOFFMAN ESTATES, Ill., May 15 /PRNewswire/ -- As more customers turn online for their entertainment shopping needs, Sears is supporting this increased demand through a large-scale expansion of its online store. This month, at Sears.com, customers can find a huge selection of books, DVDs, music, software and even customizable art, nearly quadrupling the number of products available on sears.com.

"We want Sears.com to become a key online resource for all entertainment and home needs, in addition to the quality appliances, tools and apparel for which we are already known," said Imran Jooma, Sears vice president of e-commerce. "The expanded offering allows us to better serve our customers and offer a lot more products than we're able to provide in our stores."

The first step toward creating this expanded online inventory came in December 2007 when Sears.com partnered with Alliance Entertainment Corporation (AEC) to offer movies and music to its online shoppers. Sears.com now houses more than 250,000 titles searchable by format, genre, artist and release date. Visitors also can sample previews of the hottest music and movie titles.

In April Sears.com expanded its For the Home Online Store by partnering with ArtSelect.com. Sears' customers now have a complete art gallery and custom frame shop at their fingertips. After finding a favorite art piece, visitors can create a custom finished product by choosing the mat and frame. The design can be viewed against a wall color, saved in a gallery, or shared with friends. Featuring more than 300,000 image options for art prints and canvas reproductions, as well as mirrors and tapestries, the frame shop fits any style of home decor.

Also in April, Sears.com partnered with Baker & Taylor to offer an online book assortment consisting of more than 600,000 products. Customers can search by title and category, as well as order books in advance of release date.

The downloadable software store launched in February as a co-branded site hosted by Digital River. Customers can purchase and immediately download to their PC or laptop software programs ranging from finance, games, security and system utilities.

"As a multi-channel retailer, we want every customer's experience with us to be seamless," said Jooma. "For example, if a customer is in a Sears store and is looking to buy a DVD, and the product is not available, the customer can order the DVD from a computer kiosk in-store, and the shipping fees are waived."

For more information, or to experience the enhanced offerings in art, books, movies, software and music, visit http://www.sears.com/.

About Sears, Roebuck and Co.

Sears, Roebuck and Co., a wholly owned subsidiary of Sears Holdings Corporation , is a leading broadline retailer providing merchandise and related services. Sears, Roebuck offers its wide range of home merchandise, apparel and automotive products and services through more than 2,400 Sears-branded and affiliated stores in the United States and Canada, which includes approximately 926 full-line and 1,100 specialty stores in the U.S. Sears, Roebuck also offers a variety of merchandise and services through sears.com, landsend.com, and specialty catalogs. Sears, Roebuck offers consumers leading proprietary brands including Kenmore, Craftsman, DieHard and Lands' End -- among the most trusted and preferred brands in the U.S. The company is the nation's largest provider of home services, with more than 13 million service calls made annually. For more information, visit the Sears, Roebuck website at http://www.sears.com/ or the Sears Holdings Corporation website at http://www.searsholdings.com/.

About a21

a21 Group, Inc. (BULLETIN BOARD: ATWO) , (http://www.a21group.com/) is a leading online digital content company. Through ArtSelect (http://www.artselect.com/), SuperStock (http://www.superstock.com/; http://www.superstock.co.uk/; and http://www.purestockx.com/), a21 delivers art framing, high quality images and exceptional customer service. a21 and its companies, with offices in Florida, Iowa, and London, provides valuable solutions to key business partners and customers in the art and wall decor and stock image industries.

About Baker & Taylor, Inc.

Baker & Taylor, Inc. (http://www.btol.com/) is a global information and entertainment services company that offers books, videos, music, games and services to libraries, educational institutions, and retailers. Based in Charlotte, N.C., the company has been in existence for over 180 years, developing long-term relationships with major suppliers, including book publishers, movie studios, and music labels. Baker & Taylor maintains one of the largest combined in-stock book, video and music inventories in the United States, and services the broadest customer base in the industry. Baker & Taylor is majority owned by Castle Harlan Partners IV, L.P., a leading private equity investment firm.

About Alliance Entertainment Corporation

Alliance Entertainment, a Source Interlink company, is the largest wholesale distributor of pre-recorded music and movie DVDs, representing virtually every recording company and movie studio in the entertainment industry. Visit their web site at http://www.aent.com/.

About Digital River, Inc.

Digital River, Inc. , a leading provider of global e-commerce solutions, builds and manages online businesses for software publishers, consumer technology manufacturers, distributors, online retailers and affiliates. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation.

Founded in 1994, Digital River is headquartered in Minneapolis with offices in major U.S. cities as well as Cologne, Germany; London, England; Shannon, Ireland; Luxembourg, Luxembourg; Stockholm, Sweden; Taipei, Taiwan; Tokyo, Japan; and Shanghai, China. For more details about Digital River, visit the corporate Web site at http://www.digitalriver.com/.

Sears, Roebuck and Co.

CONTACT: Dara Cothran, Euro RSCG Worldwide PR, +1-212-367-6814,
Dara.Cothran@eurorscg.com; or Kirsten Whipple, Sears Holdings,
+1-847-286-3037, kwhippl@searshc.com

Web site: http://www.sears.com/
http://www.a21group.com/
http://www.aent.com/
http://www.digitalriver.com/

RedPlum Sweetens Your Life with Dooney & Bourke Purse GiveawayInteractive Site Gets Refreshed Look, Robust Editorial Content

LIVONIA, Mich., May 15 /PRNewswire-FirstCall/ -- Valassis , one of the nation's leading marketing services companies, announced today the launch of its RedPlum Dooney & Bourke purse giveaway, in partnership with Macys.com. Participants will have the chance to win one of the summer's hottest bags, the Dooney & Bourke Chiara handbag, and Dooney & Bourke wristlets for up to 10 of their friends.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080515/CLTH125 )

To enter the giveaway, visitors can register at http://www.redplum.com/ before June 9 for a chance to win one of two Dooney & Bourke Chiara bags, valued at nearly $400 each. Plus, registrants can refer up to 10 of their friends who are all eligible for a Dooney & Bourke Monogram Rope Wristlet, valued at $40 each.

"RedPlum's Dooney & Bourke giveaway is one more reason to come see the new redplum.com," said Brian Costello, Valassis Vice President & General Manager, Interactive/redplum.com. "We've created a brand new lifestyle site packed with fantastic articles, tips and updates for every facet of your life -- not to mention the best local and national deals and offers you'll find anywhere online."

Consumers will experience a newly enhanced site with richer content including fresh, original, weekly editorial articles on parenting, fashion, beauty, dining, home, yard, entertainment, pets, autos, electronics, healthy living and money. The site also features interactive consumer engagement elements such as weekly polls and questions and answers.

As prices continue to rise on everything from gas to groceries, consumers are looking for smart ways to save money on everyday items so they can splurge on things they really want. RedPlum provides value to consumers online, in the mailbox, in the newspaper and on their doorstep, giving them an easy way to take advantage of savings opportunities that will, in turn, help them to take advantage of other simple pleasures in life. About $300 billion in savings opportunities are distributed in the United States each year. By spending as little as 20 minutes per week, the average consumer can save $2,000 per year or even more by taking advantage of the coupon and special deal offers they receive from RedPlum.

About Valassis

Valassis is one of the nation's leading marketing services companies, offering unparalleled reach and scale to more than 15,000 advertisers. Its RedPlum media portfolio delivers value on a weekly basis to over 100 million shoppers across a multi-media platform -- in-home, in-store and in-motion. Through its newest offering -- redplum.com -- consumers will find compelling national and local deals online. Headquartered in Livonia, Michigan with approximately 7,000 associates in 28 states and nine countries, Valassis is widely recognized for its associate and corporate citizenship programs, including its America's Looking for Its Missing Children(R) program. Valassis companies include Valassis Direct Mail, Inc., Valassis Canada, Promotion Watch, Valassis Relationship Marketing Systems, LLC and NCH Marketing Services, Inc. For more information, visit http://www.valassis.com/ or http://www.redplum.com/ .

Safe Harbor and Forward-Looking Statements

Certain statements found in this document constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of Valassis to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: price competition from Valassis' existing competitors; new competitors in any of Valassis' businesses; a shift in client preference for different promotional materials, strategies or coupon delivery methods; an unforeseen increase in Valassis' paper or postal costs; changes which affect the businesses of Valassis' clients and lead to reduced sales promotion spending; challenges and costs of achieving synergies and cost savings in connection with the acquisition of ADVO and integrating ADVO's operations may be greater than expected; Valassis' substantial indebtedness, and its ability to incur additional indebtedness, may affect Valassis' financial health; certain covenants in Valassis' debt documents could adversely restrict Valassis' financial and operating flexibility; fluctuations in the amount, timing, pages, weight and kinds of advertising pieces from period to period, due to a change in Valassis' clients' promotional needs, inventories and other factors; Valassis' failure to attract and retain qualified personnel may affect its business and results of operations; a rise in interest rates could increase Valassis' borrowing costs; the outcome of ADVO's pending shareholder lawsuits; possible governmental regulation or litigation affecting aspects of Valassis' business; and general economic conditions, whether nationally or in the market areas in which Valassis conducts its business, may be less favorable than expected. These and other risks and uncertainties related to Valassis' business are described in greater detail in its filings with the United States Securities and Exchange Commission, including Valassis' reports on Forms 10-K and 10-Q, and the foregoing information should be read in conjunction with these filings. Valassis disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080515/CLTH125 Valassis

CONTACT: Mary Broaddus, Director, Investor Relations and Corporate
Communications of Valassis, +1-734-591-7375, broaddusm@valassis.com

Web site: http://www.redplum.com/
http://www.valassis.com/

Cyberlux to Attend Secure Border Initiative Supplier Briefing Hosted by Boeing's Intelligence & Security Systems DivisionCyberlux is one of only two lighting companies awarded an SBInet Supplier Toolkit contract by The Boeing Company

RESEARCH TRIANGLE PARK, N.C., May 15 /PRNewswire-FirstCall/ -- Cyberlux Corporation, (BULLETIN BOARD: CYBL) , a leading provider of LED lighting solutions, announced today that the Company has received an invitation from the Boeing Intelligence & Security Systems Division to attend the Secure Border Initiative (SBInet) supplier briefing scheduled for May 22, 2008 in Washington, D.C.

In September of 2007, Cyberlux was awarded the SBInet Toolkit Supplier Contract to supply the BrightEye Portable Visible and Covert 10 Meter Tower Lighting System as part of the SBInet's mobile command infrastructure. The Company is one of only two lighting companies, and the only solid-state LED lighting solutions company, to be awarded the SBInet Toolkit Supplier Contract for portable lighting. In November, Cyberlux fulfilled the first system order from The Boeing Company associated with the SBInet deployment plans for the Mexican and Canadian borders.

"We are pleased to be included in the upcoming Boeing supplier meeting and look forward to learning more about the SBInet deployment schedules in the course of the discussions. Cyberlux provides powerful tactical lighting systems that are designed as energy-efficient, highly portable covert and visible lighting solutions, which are ideal for securing hostile environments such as our borders," said Mark Schmidt, president of Cyberlux. "With the recent acceleration in the deployment of the BrightEye and WatchDog products within the USAF and National Guard organizations, our tactical lighting systems have far-reaching capabilities and implications for the replacement of heavy generator-based lighting systems currently in use by the U.S. Armed Forces and most commercial contractors today," continued Schmidt.

Recently the Company reported that the USAF has committed $5.5 million of the Fiscal Year 2008 Department of Defense Appropriations legislation containing $8 million to equip the United States Air Force with the Company's Portable Illumination Systems. The remaining $2.5 million in appropriations will be allocated within other USAF commands during Fiscal Year 2008 which ends September 30th.

Cyberlux Corporation holds General Services Administration (GSA) contract GS-07F-9409S under the Federal Supply Schedule 56 for Specialty Lighting products.

About Cyberlux Corporation

Cyberlux Corporation (BULLETIN BOARD: CYBL) , a leader in solid-state lighting innovation, has developed breakthrough LED lighting technology that provides the most energy efficient and cost effective portable lighting solutions available today for military and commercial uses. The Military and Homeland Security products provide tactical covert and visible lighting capability and are designed as highly mobile, battery-powered lighting systems ideal for threat detection, force and asset protection and general expeditionary lighting needs. For more information, please visit http://www.cyberlux.com/.

Investor Contact: Richard Brown, rbrown@cyberlux.com / 617-314-7379

This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors, including, but not limited to, the Company's ability to expand its production capabilities concurrent with product orders. The Company's business is subject to significant risks and uncertainties discussed more thoroughly in Cyberlux Corporation's SEC filings, including but not limited to, its report on Form 10-KSB for the year ended December 31, 2007 and its 10-Q for the quarter ended March 31, 2008. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Cyberlux Corporation

CONTACT: Richard Brown, Cyberlux Corporation, +1-617-314-7379,
rbrown@cyberlux.com

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

PR Newswire Applauds SEC's XBRL Integration ProgramPR Newswire's Vintage Filings Provides Platform for Members to Test XBRL EDGAR Filing, Today

NEW YORK, May 15 /PRNewswire/ -- PR Newswire today voiced its support for the U.S. Security and Exchange Commission's (SEC) proposal that would require domestic and foreign issuers to submit their primary financial statements and footnotes in eXtensible Business Reporting Language (XBRL).

(Logo: http://www.newscom.com/cgi-bin/prnh/20000306/PRNLOGO )

"Today's ruling by the SEC is a transformative event in the history of business communications as XBRL offers the potential to revolutionize how financial data is transmitted and analyzed," stated Dave Armon, president, PR Newswire. "PR Newswire has long favored any technology or legislation that is intended to improve transparency and the widespread availability of public information. For this reason, we have been very actively involved in the promotion and adoption of XBRL because, in our estimation, it will greatly benefit everybody who utilizes financial data in their occupation or daily lives, from analysts, portfolio managers and corporate officers to individual investors and the media."

According to the SEC's proposal, XBRL filing would follow a phased approach starting with the largest US and foreign accelerated filers (defined as those with a worldwide public float of $5 billion or higher). The plan would initially target those companies that use US GAAP, but would eventually encompass those that use International Financial Reporting Standards (IFRS).

Reporting for the first group of companies would begin with fiscal periods ending on or after December 15, 2008, with submission to EDGAR and on the company's own corporate web site. The following year, all other domestic and foreign filers would begin filing in XBRL format and in year three, all remaining companies would follow be required to be XBRL-compliant.

In preparation for the SEC's XBRL timetable, PR Newswire and its EDGAR filing firm, Vintage Filings, have initiated a program that allows PR Newswire members to experiment with XBRL-based EDGAR filings and familiarize themselves with the technology and tagging requirements. PR Newswire and Vintage will continue to unveil new XBRL-focused services during the remainder of 2008 so that its members are fully equipped for the SEC's mandatory filing date.

PR Newswire will also leverage its work as an XBRL activist to provide education services and industry insight to its customers. Since 2005, PR Newswire has been a member of XBRL-US, the U.S. based arm of XBRL International. Over the course of PR Newswire's affiliation with XBRL-US, individuals at the company have assumed leadership positions within the organization and have been instrumental in leading its efforts to advance the adoption of the technology.

Armon continued, "Our close ties to XBRL-US and the integration of Vintage Filings into the PR Newswire suite of services gives our members an important head start in gaining familiarity with XBRL and complying with the SEC's mandate. Going forward, PR Newswire will to continue to expand our XBRL offerings and provide additional services that will enable our clients to reap the full rewards of this groundbreaking technology."

About XBRL

XBRL (Extensible Business Reporting Language) is a royalty-free, open specification for software that uses XML data tags to describe financial information for public and private companies and other organizations. XBRL benefits all members of the financial information supply chain by utilizing a standards-based method with which users can prepare, publish in a variety of formats, exchange and analyze financial statements and the information they contain. Some of the world's leading accounting, financial, government and software organizations are involved in the adoption and use of XBRL in the U.S. XBRL-US is hosted and supported by the American Institute of CPAs, one of the founding members of XBRL International. For more information on XBRL, please go to the XBRL US Web site (http://www.xbrl.org/US).

About PR Newswire

PR Newswire Association LLC (http://www.prnewswire.com/) provides electronic distribution, targeting, measurement and broadcast services on behalf of tens of thousands of corporate, government, association, labor, non- profit, and other customers worldwide. Using PR Newswire, these organizations reach a variety of critical audiences including the news media, the investment community, government decision-makers, and the general public with their up- to-the-minute, full-text news developments.

Established in 1954, PR Newswire has offices in 14 countries and routinely sends its customers' news to outlets in more than 170 countries and in more than 40 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters, investors and individuals who seek breaking news from the source. PR Newswire's leading services include ProfNet(SM), eWatch(TM), MEDIAtlas(TM), Search Engine Optimization, MediaRoom, MediaSense(TM), MultiVu(TM), U.S. Newswire, the preeminent policy newswire in the industry, Vintage Filings, the fastest growing Edgar filing company, and Hispanic PR Wire, LatinClips and Hispanic Digital Network, the foremost Hispanic communications services. PR Newswire is a subsidiary of United Business Media plc of London.

CONTACT: Rachel Meranus, Vice President, Public Relations, PR Newswire, +1-201-360-6776 or rachel.meranus@prnewswire.com.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000306/PRNLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com PR Newswire Association LLC

CONTACT: Rachel Meranus, Vice President, Public Relations, PR Newswire,
+1-201-360-6776 or rachel.meranus@prnewswire.com

Web site: http://www.prnewswire.com/
http://www.xbrl.org/US

comScore Media Metrix Ranks Top 50 U.S. Web Properties for AprilGoogle Sites Capture #1 Property Ranking for the First TimeApril 15 Deadline Prompts Surge of Traffic to Tax Sites

RESTON, Va., May 15 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today released its monthly analysis of U.S. consumer activity at the top online properties for April 2008 based on data from the comScore Media Metrix service. April saw Google Sites attain the number one spot in the Top 50 U.S. Properties ranking for the first time in its history with a total audience of more than 141 million visitors. Content categories showing gains in April included job search, career resources, and television sites.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)

"April was a very active month. Google took the top property position, thanks to continued search growth and rapid growth at YouTube," commented Jack Flanagan, executive vice president of comScore Media Metrix. "The significant traffic growth at tax sites, which began in January, reached a crescendo by the tax filing deadline on April 15 as taxpayers sought information, forms, and online filing facilities. The return of the network television programs after the writers strike sent fans to a variety of sites to get information on their favorite shows, catch up on episodes they may have missed, get refreshed on plotlines, and to stream new episodes."

Top 50 Properties

Google Sites captured the top position in the Top Properties ranking for the first time, reaching 141 million Americans in April. Yahoo! Sites ranked second with 140.6 million visitors, followed by Microsoft Sites with 121.2 million visitors. Superpages.com Network and CareerBuilder LLC both jumped eight spots in the ranking to positions 18 and 30, respectively.

Deadline Drives Traffic to Tax Sites

Americans racing to file their taxes by April 15 propelled gains at several tax-related sites. IRS.gov grew 35 percent to 23.4 million visitors, ranking as one of the top-gaining properties for the month. Intuit rose 11 percent to 13.3 million visitors, while TaxACT drew 5.2 million visitors and H&R Block attracted 4.2 million visitors.

Job Search and Career Sites Experience Gains Fueled by Graduates and the Economy

Job search and career resource sites both experienced gains in April, as impending college graduations and an uncertain economy had Americans taking steps to control their careers. The job search category grew 5 percent increase to 17.2 million visitors, led by gains at Indeed.com Job Search (up 10 percent to 4.7 million visitors), SimplyHired.com Sites (up 29 percent to 3 million visitors), and AOL Find a Job by CareerBuilder.com Job Search (up 22 percent to 1.4 million visitors). The career resources category saw a 3-percent increase during the month to 44 million visitors, led by CareerBuilder LLC with 23.9 million visitors.

Television Sites Gain as New Episodes Air

With the writers strike resolved, many television shows finally returned to the airwaves in April with new episodes, causing the TV category to increase 4 percent to 93.2 million visitors. Yahoo! TV led the category with 15.6 million visitors, a 38-percent increase versus the previous month, followed by AOL Television with 12.5 million visitors and MySpace TV with 12 million visitors. Significant gains were also achieved by MSN TV (up 21 percent to 11.7 million visitors) and ABC.com (up 18 percent to 9 million visitors).

Top 50 Ad Focus Ranking

Platform-A continued to lead the Ad Focus ranking, reaching 89 percent of the more than 190 million Americans online in April. Turn, Inc. jumped 10 positions to #32, reaching 32 percent of the online population. National Newspaper Network introduced two Ad Focus entities in April, NNN Top 25 and NNN Top 10, which entered the rankings at position 40 and 50, respectively.

TABLE 1 comScore Top 10 Gaining Properties by Percentage Change in Unique Visitors* (U.S.) April 2008 vs. March 2008 Total U.S. - Home, Work and University Locations Source: comScore Media Metrix Total Unique Visitors (000) Rank by Unique Mar-08 Apr-08 % Change Visitors Total Internet : Total Audience 188,010 190,728 1 N/A PlayList.com 5,548 7,632 38 137 MLB.com 9,799 13,318 36 76 IRS.gov 17,311 23,354 35 34 TheStreet.com Sites 3,733 4,667 25 238 Chrysler LLC 4,167 5,149 24 209 CondeNast Publications - CondeNet Network 8,760 10,563 21 97 Lowes.com 8,728 10,445 20 99 Womensforum.com Sites 6,150 7,252 18 149 Yum! Brands Inc. 4,109 4,845 18 224 ABC.com 7,667 9,032 18 111 * Ranking based on the top 250 properties in April 2008 TABLE 2 comScore Top 10 Gaining Categories by Percentage Change in Unique Visitors (U.S.) April 2008 vs. March 2008 Total U.S. - Home, Work and University Locations Source: comScore Media Metrix Total Unique Visitors (000) Mar-08 Apr-08 % Change Total Internet : Total Audience 188,010 190,728 1 Pharmacy 16,730 18,105 8 Retail - Food 15,097 16,234 8 Fragrances/Cosmetics 18,266 19,574 7 Job Search 16,384 17,175 5 Community - Women 78,030 81,487 4 Entertainment - TV 89,590 93,222 4 Business/Finance - News/Research 61,549 64,043 4 Career Resources 42,562 43,997 3 Hobbies/Lifestyle - Home 44,349 45,526 3 Car Rental 6,125 6,287 3 TABLE 3 comScore Top 50 Properties (U.S.) April 2008 Total U.S. - Home, Work and University Locations Unique Visitors (000) Source: comScore Media Metrix Unique Unique Rank Property Visitors Visitors (000) Rank Property (000) Total Internet: Total Audience 190,728 1 Google Sites 141,080 26 Disney Online 25,171 2 Yahoo! Sites 140,613 27 Shopzilla.com Sites 25,154 3 Microsoft Sites 121,213 28 Gorilla Nation 25,045 4 AOL LLC 111,277 29 Comcast Corporation 24,192 5 Fox Interactive Media 87,527 30 CareerBuilder LLC 23,942 6 eBay 80,903 31 Bank of America 23,906 7 Wikipedia Sites 58,812 32 United Online, Inc 23,824 8 Amazon Sites 58,057 33 Expedia Inc 23,531 9 Ask Network 54,086 34 IRS.gov 23,354 10 Time Warner - Excluding AOL 52,544 35 Yellowpages.com Network 23,168 11 Apple Inc. 47,849 36 Gannett Sites 23,128 12 New York Times Digital 47,250 37 Photobucket.com LLC 22,551 13 Viacom Digital 44,772 38 ESPN 21,423 14 Facebook.com 35,652 39 Monster Worldwide 20,860 15 Weather Channel, The 34,913 40 iVillage.com: The Womens Network 19,955 16 Glam Media 34,684 41 WebMD Health 19,852 17 CNET Networks 32,370 42 Atrinsic, Inc. 19,792 18 Superpages.com Network 30,564 43 Demand Media 19,758 19 Adobe Sites 30,557 44 Real.com Network 19,291 20 craigslist, inc. 30,344 45 E.W. Scripps 19,263 21 AT&T, Inc. 29,863 46 WordPress 18,570 22 Wal-Mart 29,221 47 Cox Enterprises Inc. 18,404 23 Target Corporation 29,082 48 Answers.com Sites 18,109 24 Verizon Communications Corporation 27,748 49 NBC Universal 17,692 25 CBS Corporation 25,286 50 WorldNow - ABC Owned Sites 17,564 TABLE 4 comScore Ad Focus Ranking (U.S.) April 2008 Total U.S. - Home, Work and University Locations Unique Visitors (000) Source: comScore Media Metrix Unique Unique Visitors Reach Visitors Reach Rank Property (000) % Rank Property (000) % Total Internet : Total Audience 190,728 100.0 1 Platform-A** 170,508 89% 26 MySpace.com* 72,214 38% 2 Advertising.com**167,749 88% 27 CPX Interactive**69,178 36% 3 Yahoo! Network** 160,206 84% 28 eBay.com 66,588 35% 4 Google Ad Network** 155,882 82% 29 Ybrant/AdDynamix Network** 66,341 35% 5 Specific Media** 144,773 76% 30 YouTube.com 66,236 35% 6 ValueClick Networks** 140,930 74% 31 Gorilla Nation Media 66,009 35% 7 Yahoo! 138,912 73% 32 Turn, Inc** 60,617 32% 8 Tribal Fusion** 135,113 71% 33 Quigo** 60,347 32% 9 Google 133,528 70% 34 MSN.COM Home Page 57,301 30% 10 Casale Media Network** 127,184 67% 35 Ask Network 54,086 28% 11 DRIVEpm** 119,595 63% 36 Kontera** 52,159 27% 12 adconion media group** 117,965 62% 37 Real Cities Network 48,015 25% 13 Traffic Marketplace** 114,682 60% 38 MapQuest 47,535 25% 14 AOL Media Network 111,277 58% 39 Amazon.com 47,274 25% 15 interCLICK** 107,961 57% 40 NNN Top 25 47,153 25% 16 MSN-Windows Live 107,336 56% 41 IB Local Network 46,827 25% 17 Tremor Media - Media Partners 101,929 53% 42 PrecisionClick** 45,622 24% 18 24/7 Real Media** 99,959 52% 43 Business.com Network 44,304 23% 19 ADSDAQ by ContextWeb** 93,815 49% 44 Vizi Inc** 44,127 23% 20 Burst Media** 89,670 47% 45 YuMe Video Network 43,137 23% 21 Collective Media** 88,279 46% 46 eBay.com Home Page 40,511 21% 22 AdBrite** 81,838 43% 47 About 40,346 21% 23 Centro 80,258 42% 48 IACAS Network 39,286 21% 24 Undertone Networks** 72,940 38% 49 The Nabbr Network - Exclusive Media Partners 38,575 20% 25 Vibrant Media** 72,351 38% 50 NNN Top 10 37,211 20% Reach % denotes the percentage of the total Internet population that viewed a particular entity at least once in April. For instance, Yahoo! was seen by 73 percent of the more than 190 million Internet users in April. * Entity has assigned some portion of traffic to other syndicated entities. ** Denotes an advertising network. About comScore Media Metrix

comScore Media Metrix provides industry-leading Internet audience measurement services that report details of online media usage, visitor demographics and online buying power for the home, work and university audiences across local U.S. markets and across the globe. comScore Media Metrix reports are used by financial analysts, advertising agencies, publishers and marketers. comScore Media Metrix syndicated ratings are based on industry-sanctioned sampling methodologies.

About comScore

comScore, Inc. is a global leader in measuring the digital world. For more information, please visit http://www.comscore.com/boilerplate

Photo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com comScore, Inc.

CONTACT: Sarah Radwanick of comScore, Inc., +1-312-775-6538,
press@comscore.com

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

Investor Alert from Cauley Bowman Carney & Williams, PLLC: Update on Proposed Acquisition of CNET Networks, Inc. - CNET

LITTLE ROCK, Ark., May 15 /PRNewswire/ -- Cauley Bowman Carney & Williams, PLLC announces an investigation into the proposed acquisition of CNET Networks, Inc. . On May 15, 2008, CNET announced that it has entered into a definitive merger agreement with CBS Corp. Under the terms of the proposal, CNET shareholders would receive $11.50 per share in cash for each share owned and CNET would no longer operate as a publicly traded company. This price per share represents an approximately 45% premium over the stock's closing price of $7.95 prior to announcement of the acquisition. The proposed merger cannot be completed without the approval of CNET shareholders.

If you are a current shareholder of CNET Networks, Inc. and would like to be advised of your rights in this matter, you may contact Cauley Bowman Carney & Williams, PLLC at the phone number below.

Cauley Bowman Carney & Williams, PLLC

Cauley Bowman is a national law firm that represents investors in securities fraud and corporate governance class actions. It is one of the country's premier firms in the area of securities fraud having recovered billions of dollars for defrauded investors and secured significant corporate governance reforms. Cauley Bowman maintains in-house finance, forensic accounting specialists and extensive trial experience.

CONTACT Darrin L. Williams, Esq. Randall K. Pulliam, Esq. Kristi Gray 501-312-8500 1-888-551-9944 info@cauleybowman.com

Cauley Bowman Carney & Williams, PLLC

CONTACT: Darrin L. Williams, Esq., or Randall K. Pulliam, Esq., or
Kristi Gray, all of Cauley Bowman Carney & Williams, PLLC, +1-501-312-8500, or
1-888-551-9944, info@cauleybowman.com

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

Tyco Electronics to Host Investor Meeting on Tuesday, June 3, 2008

BERWYN, Pa., May 15 /PRNewswire-FirstCall/ -- Tyco Electronics Ltd. will host an investor meeting on Tuesday, June 3, 2008 to update investors on the company and its growth initiatives, strategic priorities and financial performance. The event will be held at the Jumeirah Essex House, 160 Central Park South (between 6th and 7th Avenues) in New York City.

The program will include presentations from Tyco Electronics' Chief Executive Officer Tom Lynch, as well as several members of the company's senior management team. Registration will begin at 7:00 a.m. EDT and presentations will run from 8:00 a.m. to approximately noon.

Representatives of the media are invited to attend. If you are a member of the media and you plan to attend, please RSVP to Martinique Woods at 610-893-9567 / mwoods@tycoelectronics.com.

Individuals who are unable to attend the meeting in person will be able to view a live video- and webcast at Tyco Electronics' website: http://investors.tycoelectronics.com/. A replay of the presentations will be available at the same website beginning within 24 hours after the conclusion of the investor meeting and ending at 11:59 p.m. EDT on July 3, 2008.

ABOUT TYCO ELECTRONICS

Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, undersea telecommunication systems and wireless systems, with 2007 sales of $13.0 billion to customers in more than 150 countries. We design, manufacture and market products for customers in industries from automotive, appliance and aerospace and defense to telecommunications, computers and consumer electronics. With over 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics' commitment is our customers' advantage. More information on Tyco Electronics can be found at http://www.tycoelectronics.com/.

Tyco Electronics Ltd.

CONTACT: Media, Sheri Woodruff, +1-610-893-9555, mobile,
+1-609-933-9243, swoodruff@tycoelectronics.com; or Investors, John Roselli,
+1-610-893-9559, john.roselli@tycoelectronics.com, or Keith Kolstrom,
+1-610-893-9551, keith.kolstrom@tycoelectronics.com, all of Tyco Electronics
Ltd.

Web site: http://www.tycoelectronics.com/
http://investors.tycoelectronics.com/

Perot Systems Announces the Launch of Xcelys(TM) 5.0 SoftwareCompany Times Rebranding of Health Plan Core Administration Software with Release of Performance and Functionality Enhancements

PLANO, Texas, May 15 /PRNewswire-FirstCall/ -- Perot Systems today announced the release of Xcelys(TM) 5.0 Health Plan Core Administration Software. Xcelys 5.0 software is a continuance of Perot Systems' strategy to offer transformative healthcare technology solutions to the health plan market.

Xcelys, formerly called PERADIGM software, will enable Perot Systems to deliver increasing quality and benefits for health plan administration in enterprise IT organizations, fulfilling its commitment to drive excellence in health plan administration. With the capability to execute several extended business functions, Xcelys software's functionality enhancements will increase auto-adjudication and payment accuracy rates resulting in a reduced number of claims held for manual pricing and processing.

In addition to these features, the Xcelys 5.0 software release was recently certified on the Oracle(R)10g platform using Real Application Clusters (RAC). Certifying the software on Oracle 10g and RAC significantly improves claims throughput (measured in claims per second) as well as provides robust load balancing and fail over capability.

"Our customers need flexibility in their ability to deliver new products to the members in their markets, while simultaneously keeping administrative costs low. The new release of Xcelys delivers these tangible business results, and also enhances scalability and dynamic provisioning," said Jim Mapes, Executive Vice President, Perot Systems process solutions group.

About Perot Systems

Perot Systems is a worldwide provider of information technology services and business solutions. Through its flexible and collaborative approach, Perot Systems integrates expertise from across the company to deliver custom solutions that enable clients to accelerate growth, streamline operations and create new levels of customer value. Headquartered in Plano, Texas, Perot Systems reported 2007 revenue of $2.6 billion. The company has more than 23,000 associates located in North America, Europe, MENA and Asia. Additional information on Perot Systems is available at http://www.perotsystems.com/.

This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. For factors that could affect our business and cause actual results to differ materially, please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2007, as filed with the U.S. Securities and Exchange Commission and available at http://www.sec.gov/, as updated in our Quarterly Reports on Form 10-Q filed after such Form 10-K, for additional information regarding risk factors. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments, or otherwise.

Media Contact: Perot Systems Corporation Jonathan Moss +1 972 577 6395 jonathan.moss@ps.net

Perot Systems Corporation

CONTACT: Jonathan Moss of Perot Systems Corporation, +1-972-577-6395,
jonathan.moss@ps.net

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

Company News On-Call: http://www.prnewswire.com/comp/122686.html

InkSure Technologies Releases Results of 1st Quarter of 2008

FT. LAUDERDALE, Fla., May 15 /PRNewswire-FirstCall/ -- InkSure Technologies Inc. (BULLETIN BOARD: INKS) , a leading provider of covert machine-readable security solutions for the prevention of counterfeiting, fraud and diversion, today reported its operating results for the three months period ended on March 31, 2008.

First Quarter Highlights (compared to 1st quarter of 2007) -- Revenues declined by 69%, to $218,000. -- Continued investment in next generation SARcode(TM) "chipless" RFID technology. -- Net loss $1,083,000. First Quarter Results

Revenues for the 1st quarter of 2008 were $218,000 a decline of 69%, compared to $696,000 for the 1st quarter last year. Gross profit for the quarter was $94,000 a decline of 79%, compared to $441,000 for the 1st quarter last year. Gross margin for the 1st quarter was 43%, compared to 63% last year.

Operating loss for the quarter was $1,157,000, compared to a loss of $589,000 for the 1st quarter last year. Operating loss for the quarter included $116,000 of non-cash expenses relating to share based compensation under SFAS No. 123, compared to a $152,000 of non-cash expenses in the 1st quarter last year. Excluding these share based compensation expenses in both periods, operating loss for the quarter totaled $1,041,000, compared to $437,000 in the 1st quarter 2007.

Net income for the quarter included $185,000 of non-cash financial income related to outstanding convertible notes. Loss per share was $0.07 the same as for the 1st quarter last year.

The Company ended the 1st quarter of 2008 with $345,000 of cash and cash equivalents, compared to $820,000 of cash and cash equivalents as of March 31, 2007.

"While our ink businesses have been slow this quarter, we are excited about the development of our innovative SARcode chipless RFID technology," commented Mr. Elie Housman, Chief Executive Officer.

Mr. Housman added, "Since the beginning of this year, we have committed our resources to developing our unique chipless RFID technology. Our issued and pending patents provide InkSure a leading position in the chipless RFID market. Our technology enables us to read items marked at a cost of less than a cent per item without line of sight. To our knowledge, our technology is unique and the market is extremely large. We are encouraged by the market feedback to our RFID technology that we have received to date.

About InkSure Technologies Inc.

InkSure Technologies Inc., with its corporate headquarters in Ft. Lauderdale, Florida and its research and development center in Science Park, Rehovot, Israel, specializes in comprehensive, covert security solutions designed to protect high profile brands and documents of value from counterfeiting, fraud and diversion. The Company's sales and marketing activities target a number of market opportunities, including financial, pharmaceutical, branded products, transportation, and government/institutional, on a global scale. The Company's R&D activities include the development of "chipless" RFID technology for affordable item-level secure logistics and track-and-trace applications. The Company's common stock is listed on the OTC Bulletin Board under the symbol "INKS". Additional information on the Company is available on its website at http://www.inksure.com/.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Although InkSure (the "Company") believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Important factors that could cause actual results to differ materially from the forward-looking statements include the Company's need to obtain substantial additional capital (through financings or otherwise) to fund its operations, the progress of development, government and regulatory approvals and licensing/commercialization of the Company's technologies, and other factors noted in the Company's periodic report filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information 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. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

INKSURE TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEET (U.S. DOLLARS IN THOUSANDS) MARCH 31, DEC. 31, 2008 2007 UNAUDITED AUDITED ASSETS CURRENT ASSETS: Cash and cash equivalents $345 $820 Trade receivables 107 453 Other accounts receivable and prepaid expenses 184 225 Inventories 430 399 TOTAL CURRENT ASSETS 1,066 1,897 PROPERTY AND EQUIPMENT, NET 340 352 LONG TERM DEPOSIT 17 17 DEFERRED CHARGES 349 385 GOODWILL 271 271 TOTAL ASSETS $2,043 $2,922 MARCH 31, DEC 31, 2008 2007 UNAUDITED AUDITED LIABILITIES AND STOCKHOLDERS' DEFICIENCY CURRENT LIABILITIES: Trade payables $359 $284 Employees and payroll accruals 207 204 Accrued expenses and other payables 557 362 TOTAL CURRENT LIABILITIES 1,123 850 Convertible notes, net 5,506 5,691 TOTAL LIABILITIES 6,629 6,541 STOCKHOLDERS' DEFICIENCY: Capital Stock: Preferred stock of $ 0.01 par value - Authorized: 10,000,000 shares; Issued and outstanding: 0 shares as of March 31,2008 Common stock of $ 0.01 par value - Authorized: 35,000,000; Issued and outstanding: 16,274,768 as of March 31,2008 162 161 Additional paid-in capital 14,393 14,279 Accumulated other comprehensive income 118 118 Accumulated deficit (19,259) (18,177) TOTAL STOCKHOLDERS' DEFICIENCY (4,586) (3,619) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $2,043 $2,922 INKSURE TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) THREE MONTHS ENDED MARCH 31, 2008 2007 UNAUDITED Revenues $219 $696 Cost of revenues 125 255 Gross profit 94 441 Operating expenses: Research and development 602 301 Selling and marketing 370 445 General and administrative 279 284 TOTAL OPERATING EXPENSES 1,251 1,030 Operating loss (1,157) (589) Other income (expense) Financial expenses (75) (41) Non cash financial income (expenses) related to convertible notes, net 149 (463) Financial income (expenses), net 74 (504) Net loss $(1,083) $(1,093) Basic and diluted net loss per share $(0.07) $(0.07) Weighted average number of Common Stock used in computing basic and diluted net loss per share 16,248,812 15,915,441 INKSURE TECHNOLOGIES INC. STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) (U.S. DOLLARS IN THOUSANDS) ACCUMULATED OTHER TOTAL ADDITIONAL DEFERRED COMPRE- STOCKHOLDERS' SHARE PAID-IN STOCK-BASED HENSIVE ACCUMULATED EQUITY CAPITAL CAPITAL COMPENSATION INCOME DEFICIT (DEFICIENCY) Balance as of December 31, 2005 $152 $12,160 (12) $118 $(11,987) 431 Stock based compensation - 891 - - - 891 Amortization of deferred stock-based compensation - - 12 - - 12 Conversion of 380,723 warrants into 354,442 ordinary shares 4 186 - - - 190 Conversion of 249,283 options into 249,283 ordinary shares 2 249 - - - 251 Net loss - - - - (3,112) (3,112) Balance as of December 31, 2006 $158 $13,486 - $118 $(15,099) $(1,337) Stock based compensation - 536 - - - 536 Exercise of 253,181 warrants to purchase 137,655 ordinary shares 2 131 - - - 133 Exercise of 97,833 options to purchase 97,833 ordinary shares 1 126 - - - 127 Net loss - - - - (3,078) (3,078) Balance as of December 31, 2007 $161 14,279 - 118 (18,177) (3,619) Stock based compensation - 116 - - - 116 Issuance of 179,696 ordinary shares in settlement of dispute 2 (2) - - - - Net loss - - - - (1,083) (1,083) Balance as of March 31, 2008 163 14,393 - 118 (19,260) (4,586) INKSURE TECHNOLOGIES INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (U.S. DOLLARS IN THOUSANDS) THREE MONTHS ENDED MARCH 31, 2008 2007 UNAUDITED CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $(1,083) $(1,093) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 60 22 Capital gain from sale of property - (1) Decrease (increase) in trade receivables 346 (281) Non cash financial (income) expenses related to convertible notes, net (185) 428 Decrease in other accounts receivable and prepaid expenses 41 310 Decrease (increase) in inventories (31) 19 Increase (decrease) in trade payables 75 48 Increase (decrease) in employees and payroll accruals 3 87 Non cash financial expenses related to implementation of SFAS No. 123 116 152 Increase (decrease) in other payables 195 (12) Net cash used for operating activities (463) (320) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (12) (11) Proceed from sale of property - 3 Proceeds from short-term bank deposits - 378 Proceeds from long-term bank deposits - (9) Net cash provided by (used for) investing activities (12) 361 CASH FLOWS FROM FINANCING ACTIVITIES: Receipts on account of stock - 83 Net cash provided by financing activities - 83 Increase (decrease) in cash and cash equivalents (475) 124 Cash and cash equivalents at the beginning of the period 820 403 Cash and cash equivalents at the end of the period $345 $527 Company Contact: Chris Brown, General Manager InkSure Inc. +1-954-772-8507 cbrown@inksure.com

InkSure Technologies Inc.

CONTACT: Chris Brown, General Manager of InkSure Inc., +1-954-772-8507,
cbrown@inksure.com

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

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