Isilon Systems Announces 2008 Second Quarter Financial ResultsSolid Revenue Growth and Gross Margin Expansion Drive Bottom Line Improvement

SEATTLE, July 31 /PRNewswire-FirstCall/ -- Isilon(R) Systems , the leader in clustered storage, today announced its financial results for the second quarter ended June 30, 2008. Revenue for the second quarter was $28.2 million, a sequential increase of 17 percent compared with $24.1 million in the first quarter of 2008. Revenue increased 23 percent compared with $22.9 million in the second quarter of 2007.

"In the second quarter, Isilon delivered solid results representing increased traction in our business and progress toward profitability," said Sujal Patel, President and Chief Executive Officer, Isilon Systems. "We continue to deepen penetration into mission critical enterprise applications, demonstrating a broadening recognition of Isilon's strong value proposition."

Financial results for the second quarter of 2008 included the following:

-- Gross margin for the second quarter of 2008 was 56.9 percent, compared with 53.5 percent in the first quarter of 2008. Gross margin in the second quarter last year was 50.6 percent. On a non-GAAP basis, gross margin for the second quarter was 57.0 percent, compared with 53.7 percent in the first quarter of 2008. Non-GAAP gross margin in the second quarter last year was 50.8 percent.

-- Loss from operations for the second quarter of 2008 was $6.4 million, compared with $10.8 million in the first quarter of 2008. Loss from operations in the second quarter last year was $6.2 million. On a non-GAAP basis, loss from operations for the second quarter of 2008 was $4.9 million, compared with $9.5 million in the first quarter of 2008. Non-GAAP loss from operations in the second quarter last year was $5.1 million.

-- Net loss for the second quarter of 2008 was $5.8 million, or $0.09 per share, compared with net loss of $10.1 million, or $0.16 per share, in the first quarter of 2008. Net loss in the second quarter last year was $5.0 million, or $0.08 per share. Non-GAAP net loss for the second quarter was $4.3 million, or $0.07 per share, compared with non-GAAP net loss of $8.8 million, or $0.14 per share, in the first quarter of 2008. Non-GAAP net loss in the second quarter last year was $4.0 million, or $0.07 per share.

-- As of June 30, 2008, cash, cash equivalents and marketable securities were $75.1 million.

Conference Call

Isilon management will host a conference call today at 2:00 p.m. PT (5:00 p.m. ET) to discuss Isilon's second quarter financial results. The call will be accessible via webcast on the Investor Relations section of Isilon's website at http://www.isilon.com/company/, where it will be archived. In addition, the live conference call will be accessible by telephone at 866-825-1692 or 617-213-8059; the passcode is 89843996.

A replay of the conference call will be available by telephone approximately two hours after the call ends until 9:00 p.m. PT (12:00 midnight ET), August 14, 2008, at 888-286-8010 or 617-801-6888; the passcode for the replay is 72074835.

About Isilon Systems

Isilon Systems is the worldwide leader in clustered storage systems and software for digital content and unstructured data, enabling enterprises to transform data into information - and information into breakthroughs. Isilon's award-winning family of IQ clustered storage systems combines Isilon's OneFS(R) operating system software with the latest advances in industry-standard hardware to deliver modular, pay-as-you-grow, enterprise-class storage systems. Isilon's clustered storage solutions speed access to critical business information while dramatically reducing the cost and complexity of storing it. Information about Isilon can be found at http://www.isilon.com/.

Use of Non-GAAP Financial Measures

To supplement our consolidated financial statements prepared in accordance with GAAP, this press release includes non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net loss, and non-GAAP loss per share. Isilon provides non-GAAP information to enhance investors' overall understanding of the company's current financial performance and the company's prospects for the future and to aid in comparing current operating results with those of past periods. The company believes the non-GAAP measures provide useful information to management and investors by excluding certain items that may not be indicative of Isilon's core operating results and business outlook.

Non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net loss, and non-GAAP loss per share exclude charges related to stock-based compensation. Isilon excludes stock-based compensation expenses from its non-GAAP measures primarily because they are non-cash expenses that Isilon does not believe reflect core operating results. Stock-based compensation expense is dependent on a number of factors over which management has limited control and is not a factor management utilizes in operating the business.

These non-GAAP measures are not calculated in accordance with GAAP and should be considered supplemental to, and not a substitute 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. Isilon believes that non-GAAP measures have inherent limitations in that they do not reflect all of the amounts associated with Isilon's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Isilon's results of operations in conjunction with the corresponding GAAP measures. We compensate for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis, prominently disclosing GAAP results and providing reconciliations from GAAP results to operational measures. We expect to continue to incur expenses similar to the non-GAAP adjustments described above, and the exclusion or inclusion of these items from our non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent.

A table following the financial statements provides a reconciliation of the most directly comparable GAAP measures to the non-GAAP measures used by management.

Safe Harbor for Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning our future financial and operating results, the benefits of our products, technologies and services, and our ability to achieve our goals, plans and objectives, including our efforts to further grow into enterprise accounts and broaden the recognition of our value proposition. These statements are not guarantees of future performance, but are based on management's expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve risks, uncertainties, and assumptions. If the risks or uncertainties ever materialize, or the assumptions prove incorrect, our actual results may differ materially from those expressed or implied by our forward-looking statements. There can be no assurances that forward-looking statements will be achieved. Important factors that could cause actual results to differ materially from those indicated in forward-looking statements include the following: risks associated with anticipated growth in the storage of unstructured, digital content; competitive factors, including changes in the competitive environment, pricing pressures, sales cycle time and increased competition; our ability to build and expand our direct sales operations and reseller distribution channels; our ability to build sales backlogs and improve sales linearity; general economic and industry conditions, including expenditure trends for storage-related products; new product introductions and our ability to develop and deliver innovative products; our ability to provide high-quality service and support offerings; our reliance on a limited number of suppliers and our ability to forecast demand for our products and potential shortages or price fluctuations in our supply chain; risks associated with international operations; and, macroeconomic factors affecting the United States. These and other important risk factors and assumptions are described in detail in our 2007 Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. The Company makes no commitment to revise or update any forward-looking statements in order to reflect subsequent events or circumstances.

Isilon Systems, Inc. Condensed Consolidated Statements of Operations (unaudited) Three Months Ended Six Months Ended June 30, July 1, June 30, July 1, 2008 2007 2008 2007 Restated* Restated* (in thousands, except per share data) Revenue: Product $22,657 $19,604 $42,409 $34,570 Services 5,525 3,307 9,897 6,187 Total revenue 28,182 22,911 52,306 40,757 Cost of revenue: Product 9,155 9,546 17,564 17,306 Services (1) 2,993 1,762 5,813 3,270 Total cost of revenue 12,148 11,308 23,377 20,576 Gross profit 16,034 11,603 28,929 20,181 Operating expenses: Research and development(1) 5,980 4,730 11,470 9,404 Sales and marketing(1) 12,405 9,820 24,205 18,829 General and administrative(1) 4,064 3,206 10,460 6,082 Total operating expenses 22,449 17,756 46,135 34,315 Loss from operations (6,415) (6,153) (17,206) (14,134) Interest income and other 660 1,167 1,462 2,331 Loss before income tax expense (5,755) (4,986) (15,744) (11,803) Income tax expense (64) (36) (173) (75) Net loss $(5,819) $(5,022) $(15,917) $(11,878) Net loss per common share, basic and diluted $(0.09) $(0.08) $(0.25) $(0.19) Shares used in computing basic and diluted net loss per common share 63,147 61,148 62,947 60,940 (1) Includes stock-based compensation as follows: Cost of revenue $18 $25 $78 $44 Research and development 231 222 412 321 Sales and marketing 554 398 1,185 550 General and administrative 693 371 1,118 559 * For further reference, please see the company's 2007 Annual Report on Form 10-K filed April 2, 2008, with the Securities and Exchange Commission. Isilon Systems, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands) As of June 30, 2008 December 30, 2007 ASSETS Current assets: Cash and cash equivalents $43,970 $38,999 Marketable securities 31,097 46,862 Trade receivables, net of allowances of $243 and $324, respectively 18,864 20,152 Inventories 11,595 9,430 Other current assets 6,862 5,524 Total current assets 112,388 120,967 Property and equipment, net 10,558 10,571 Total assets $122,946 $131,538 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $10,400 $10,962 Accrued liabilities 4,392 5,182 Accrued compensation and related benefits 5,814 5,180 Deferred revenue 15,846 12,392 Total current liabilities 36,452 33,716 Deferred revenue, net of current portion 7,444 5,819 Deferred rent, net of current portion 3,302 3,414 Total liabilities 47,198 42,949 Commitments and contingencies Stockholders' equity: Common stock 1 1 Additional paid-in capital 194,447 191,254 Accumulated other comprehensive loss (193) (76) Accumulated deficit (118,507) (102,590) Total stockholders' equity 75,748 88,589 Total liabilities and stockholders' equity $122,946 $131,538 Isilon Systems, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) (in thousands) Six Months Ended June 30, 2008 July 1, 2007 Restated* Cash flows from operating activities Net loss $(15,917) $(11,878) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 3,091 2,447 Amortization of discount on marketable securities (122) (30) Stock-based compensation expense 2,793 1,474 Changes in operating assets and liabilities: Accounts receivable, net 1,288 503 Inventories, net (2,164) (1,653) Other current assets (1,273) (2,681) Accounts payable (718) 7,553 Accrued liabilities, compensation payable and deferred rent (246) 243 Deferred revenue 5,080 2,795 Net cash used in operating activities (8,188) (1,227) Cash flows from investing activities Purchases of property and equipment (2,989) (3,183) Purchases of marketable securities (24,068) (20,832) Proceeds from maturities of marketable securities 39,870 - Net cash provided by (used in) investing activities 12,813 (24,015) Cash flows from financing activities Proceeds from issuance of common stock 362 203 Repurchases of unvested common stock (13) (78) Payments of offering costs - (1,135) Net cash provided by (used in) financing activities 349 (1,010) Effect of exchange rate changes on cash and cash equivalents (3) 1 Net increase (decrease) in cash and cash equivalents 4,971 (26,251) Cash and cash equivalents at beginning of period 38,999 99,899 Cash and cash equivalents at end of period $43,970 $73,648 * For further reference, please see the company's 2007 Annual Report on Form 10-K filed April 2, 2008, with the Securities and Exchange Commission. Isilon Systems, Inc. Reconciliation of GAAP to non-GAAP results (in thousands, except percentages and per share data) Operating Expenses Research Sales General Gross and and and margin % development marketing administrative Total Three Months Ended June 30, 2008 GAAP 56.9% $5,980 $12,405 $4,064 $22,449 Adjustments: Stock-based compensation 0.1 (231) (554) (693) (1,478) Non-GAAP 57.0% $5,749 $11,851 $3,371 $20,971 March 31, 2008 GAAP 53.5% $5,490 $11,800 $6,396 $23,686 Adjustments: Stock-based compensation 0.2 (181) (631) (425) (1,237) Non-GAAP 53.7% $5,309 $11,169 $5,971 $22,449 July 1, 2007 Restated* GAAP 50.6% $4,730 $9,820 $3,206 $17,756 Adjustments: Stock-based compensation 0.2 (222) (398) (371) (991) Non-GAAP 50.8% $4,508 $9,422 $2,835 $16,765 Six Months Ended June 30, 2008 GAAP 55.3% $11,470 $24,205 $10,460 $46,135 Adjustments: Stock-based compensation 0.2 (412) (1,185) (1,118) (2,715) Non-GAAP 55.5% $11,058 $23,020 $9,342 $43,420 July 1, 2007 Restated* GAAP 49.5% $9,404 $18,829 $6,082 $34,315 Adjustments: Stock-based compensation 0.1 (321) (550) (559) (1,430) Non-GAAP 49.6% $9,083 $18,279 $5,523 $32,885 Net loss per common share, Loss from basic and operations Net loss diluted Three Months Ended June 30, 2008 GAAP $(6,415) $(5,819) $(0.09) Adjustments: Stock-based compensation 1,496 1,496 0.02 Non-GAAP $(4,919) $(4,323) $(0.07) March 31, 2008 GAAP $(10,791) $(10,098) $(0.16) Adjustments: Stock-based compensation 1,297 1,297 0.02 Non-GAAP $(9,494) $(8,801) $(0.14) July 1, 2007 Restated* GAAP $(6,153) $(5,022) $(0.08) Adjustments: Stock-based compensation 1,016 1,016 0.01 Non-GAAP $(5,137) $(4,006) $(0.07) Six Months Ended June 30, 2008 GAAP $(17,206) $(15,917) $(0.25) Adjustments: Stock-based compensation 2,793 2,793 0.04 Non-GAAP $(14,413) $(13,124) $(0.21) July 1, 2007 Restated* GAAP $(14,134) $(11,878) $(0.19) Adjustments: Stock-based compensation 1,474 1,474 0.02 Non-GAAP $(12,660) $(10,404) $(0.17) * For further reference, please see the company's 2007 Annual Report on Form 10-K filed April 2, 2008, with the Securities and Exchange Commission.

Isilon Systems

CONTACT: Press, Jay Wampold, Senior Director of Marketing and
Communications, +1-206-315-7620, jay.wampold@isilon.com, or Investors,
Rosemary Moothart, Director of Investor Relations, +1-206-315-7509,
rosemary.moothart@isilon.com , both of Isilon Systems

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

Cognizant Reports Record Second Quarter 2008 ResultsRevenue Up 33% Year-over-year and 6.6% SequentiallyIndustry-Leading Sequential Growth ContinuesRevises Outlook for Full Year 2008

TEANECK, N.J., July 31 /PRNewswire-FirstCall/ -- Cognizant Technology Solutions Corporation , a leading provider of IT and business process outsourcing services, today announced its financial results for the quarter ended June 30, 2008.

Highlights -- Second Quarter 2008

-- Quarterly revenue increased to $685.4 million, up 33% from the year-ago quarter.

-- Quarterly diluted EPS on a GAAP basis was $0.35, compared to $0.27 in the year-ago quarter.

-- Quarterly diluted EPS on a non-GAAP basis was $0.39, excluding $0.04 of stock-based compensation and stock-based Indian fringe benefit tax expenses, compared to $0.30, excluding stock-based compensation expense of $0.03, in the year-ago quarter.

Revenue for the quarter increased to $685.4 million, up 6.6% sequentially from $643.1 million in the first quarter of 2008, and up 33% from $516.5 million in the second quarter of 2007. GAAP net income was $103.9 million, or $0.35 per diluted share, compared to $82.3 million, or $0.27 per diluted share, in the second quarter of 2007. GAAP operating margin for the quarter was 17.5%. Excluding stock-based compensation expense of $10.5 million and stock-based Indian fringe benefit tax expense of $5.9 million, non-GAAP operating margin was 19.8%, in line with the Company's targeted 19 to 20% range. Reconciliations of these non-GAAP financial measures to GAAP operating results and diluted EPS are included at the end of this release.

"Despite continued uncertainty in the marketplace, we exceeded our quarterly revenue guidance and our sequential growth once again outpaced our peer group in the second quarter," said Francisco D'Souza, President and CEO of Cognizant. "Several of our business segments, including Financial Services, performed well during the quarter. Furthermore, we generated continued strong performance across Europe and healthy growth from our Business/Knowledge Process Outsourcing and IT Infrastructure Services practices as a result of clients' focusing on cost efficiencies."

"Due to the continued deterioration in the macroeconomic environment and sagging consumer and business confidence, we are adopting a more conservative stance for the remainder of the year. However, we remain optimistic about our long-term growth prospects given that our pipeline of large deals remains healthy, our market position remains strong and the trend towards increasing offshore spending continues, driven by secular changes in industry dynamics, pressures to find cost efficiencies or, in some cases, both."

2008 Outlook - Third Quarter & Full Year

Based on current visibility, the Company is now providing the following guidance:

-- Third quarter 2008 revenue anticipated to be at least $723 million.

-- Third quarter 2008 diluted EPS expected to be $0.37 on a GAAP basis, and $0.41 on a non-GAAP basis, which excludes $0.04 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense.

-- Fiscal 2008 revenue is anticipated to be at least $2.81 billion.

-- Fiscal 2008 diluted EPS expected to be at least $1.44 on a GAAP basis, and $1.61 on a non-GAAP basis, which excludes $0.17 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense.

"Although we are disappointed with the necessity of reducing our outlook for the second half of the year due to the weakening economy, we are pleased to continue our expectation of industry leading growth and a healthy long-term outlook for the business," said Gordon Coburn, Chief Financial and Operating Officer. "We continue to invest across the markets we serve, deepening our consulting and domain capabilities and expanding our services offerings in areas such as Business/Knowledge Process Outsourcing and IT Infrastructure Services in order to extend our leading competitive position. At the same time, we are focused on managing our expenses and increasing utilization in order to optimize our operating performance while we invest for the long term success of the business."

Conference Call

Cognizant management will host a conference call today, July 31, 2008, at 5:00 p.m. (Eastern) to discuss operating performance for the quarter. To participate in the conference call, domestic callers can dial (800) 374-0467 and international callers can dial (706) 679-3288 and enter the Conference ID number: #56611874. The conference call will also be available live via the Internet by accessing the Cognizant web site at http://www.cognizant.com/. Please go to the web site at least fifteen minutes prior to the call to register, download and install any necessary audio software.

For those who cannot access the live broadcast, a replay will be available by dialing (800) 642-1687 for domestic callers and (706) 645-9291 for international callers and entering "56611874" from two hours after the end of the call until 11:59 p.m. (Eastern) on Thursday, August 7, 2008. The replay will also be available at Cognizant's web site http://www.cognizant.com/ for thirty days following the call.

About Cognizant

Cognizant is a leading provider of information technology, consulting and business process outsourcing services. Cognizant's single-minded passion is to dedicate our global technology and innovation know-how, our industry expertise and worldwide resources to working together with clients to make their businesses stronger. With more than 40 global delivery centers and over 59,000 employees as of June 30, 2008, we combine a unique onsite/offshore delivery model infused by a distinct culture of customer satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index, Cognizant is a Forbes Global 2000 company and a member of the Fortune 1000 and is ranked among the top information technology companies in BusinessWeek's Info Tech 100, Hot Growth and Top 50 Performers listings. Visit us online at http://www.cognizant.com/.

Forward-Looking Statements

This press release includes statements which may constitute forward- looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

About Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, this press release includes the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: non-GAAP income from operations, non-GAAP operating margin and non- GAAP diluted earnings per share. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures, the financial statements prepared in accordance with GAAP and reconciliations of Cognizant's GAAP financial statements to such non-GAAP measures should be carefully evaluated.

We seek to manage the company to targeted operating margin, excluding stock-based compensation costs and stock-based Indian fringe benefit tax expense, of 19% to 20% of revenues. Accordingly, we believe that non-GAAP operating margin and non-GAAP diluted earnings per share, excluding stock- based compensation costs and stock-based Indian fringe benefit tax expense, are meaningful measures for investors to evaluate our financial performance. For our internal management reporting and budgeting purposes, we use financial statements that do not include stock-based compensation expense and stock- based Indian fringe benefit tax expense for financial and operational decision making, to evaluate period-to-period comparisons and for making comparisons of our operating results to that of our competitors. Moreover, because of varying available valuation methodologies and the variety of award types that companies can use under FAS 123R, we believe that providing non-GAAP financial measures that exclude stock-based compensation allows investors to make additional comparisons between our operating results to those of other companies. Accordingly, we believe that the presentation of non-GAAP operating margin and non-GAAP diluted earnings per share, when read in conjunction with our reported GAAP results, can provide useful supplemental information to our management and investors regarding financial and business trends relating to our financial condition and results of operations.

A limitation of using non-GAAP operating margin and non-GAAP diluted earnings per share versus operating margin and diluted earnings per share calculated in accordance with GAAP is that non-GAAP operating margin and non- GAAP diluted earnings per share exclude costs, namely, stock-based compensation and stock-based Indian fringe benefit tax expense, that are recurring. Stock-based compensation and the related stock-based Indian fringe benefit tax expense will continue to be for the foreseeable future a significant recurring expense in our business. In addition, other companies may calculate non-GAAP financial measures differently than us, thereby limiting the usefulness of these non-GAAP financial measures as a comparative tool. We compensate for this limitation by providing specific information regarding the GAAP amounts excluded from non-GAAP operating margin and non- GAAP diluted earnings per share and evaluating such non-GAAP financial measures with financial measures calculated in accordance with GAAP.

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2008 2007 2008 2007 Revenues $685,427 $516,514 $1,328,533 $976,784 Operating Expenses: Cost of revenues (exclusive of depreciation and amortization expense shown separately below) 380,867 292,326 747,132 547,235 Selling, general and administrative expenses 167,105 120,464 315,958 229,963 Depreciation and amortization expense 17,777 13,053 34,070 25,313 Income from operations 119,678 90,671 231,373 174,273 Other income (expense), net: Interest income 4,864 6,450 11,084 13,121 Other income / (expense), net (485) 529 3,469 512 Total other income / (expense), net 4,379 6,979 14,553 13,633 Income before provision for income taxes 124,057 97,650 245,926 187,906 Provision for income taxes 20,201 15,373 40,197 30,183 Net income $103,856 $82,277 $205,729 $157,723 Basic earnings per share $0.36 $0.29 $0.71 $0.55 Diluted earnings per share $0.35 $0.27 $0.69 $0.52 Weighted average number of common shares outstanding 289,709 288,105 288,940 286,954 Weighted average number of common and dilutive shares outstanding 299,332 304,097 299,192 303,806 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) (In thousands) June 30, December 31, 2008 2007 Assets Current Assets Cash and cash equivalents $521,193 $339,845 Short-term investments 29,979 330,580 Trade accounts receivable, net of allowances of $10,299 and $6,339, respectively 525,398 382,960 Unbilled accounts receivable 57,734 53,496 Deferred income tax assets 65,363 75,470 Other current assets 68,953 59,828 Total Current Assets 1,268,620 1,242,179 Property and equipment, net 409,810 356,047 Long-term investments 162,117 - Goodwill 157,737 148,789 Other Intangible assets, net 47,165 45,565 Deferred income tax assets, net 28,118 11,949 Other assets 36,214 33,777 Total Assets $2,109,781 $1,838,306 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $50,809 $36,176 Deferred revenue 24,249 29,020 Accrued expenses and other liabilities 253,389 275,488 Total Current Liabilities 328,447 340,684 Deferred income tax liabilities, net 10,453 15,145 Other noncurrent liabilities 16,507 14,267 Total Liabilities 355,407 370,096 Stockholders' Equity 1,754,374 1,468,210 Total Liabilities and Stockholders' Equity $2,109,781 $1,838,306 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures (In thousands, except per share data) Three Months Ended June 30, Three Months Ended June 30, 2008 2008 2008 2007 2007 2007 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Income from operations $119,678 $16,379 (a) $136,057 $90,671 $9,512 (c) $100,183 Operating margin 17.5% 2.3% (a) 19.8% 17.6% 1.8% (c) 19.4% Diluted earnings per share $0.35 $0.04 (e) $0.39 $0.27 $0.03 (f) $0.30 Six Months Ended June 30, Six Months Ended June 30, 2008 2008 2008 2007 2007 2007 GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Income from operations $231,373 $30,280 (b) $261,653 $174,273 $16,950 (d) $191,223 Operating margin 17.4% 2.3% (b) 19.7% 17.8% 1.8% (d) 19.6% Diluted earnings per share $0.69 $0.08 (e) $0.77 $0.52 $0.04 (f) $0.56 Notes:

(a) Adjustment to exclude stock-based compensation of $10,464 and stock- based Indian fringe benefit tax expense of $5,915 from income from operations of which $6,817 was reported in cost of revenues and $9,562 was reported in selling, general and administrative expenses in our unaudited condensed consolidated statements of operations.

(b) Adjustment to exclude stock-based compensation of $23,448 and stock- based Indian fringe benefit tax expense of $6,832 from income from operations of which $12,763 was reported in cost of revenues and $17,517 was reported in selling, general and administrative expenses in our unaudited condensed consolidated statements of operations.

(c) Adjustment to exclude stock-based compensation of $9,512 from income from operations of which $4,828 was reported in cost of revenues and $4,684 was reported in selling, general and administrative expenses in our unaudited condensed consolidated statements of operations.

(d) Adjustment to exclude stock-based compensation of $16,950 from income from operations of which $8,096 was reported in cost of revenues and $8,854 was reported in selling, general and administrative expenses in our unaudited condensed consolidated statements of operations.

(e) Adjustment to exclude the per share effect of stock-based compensation expense net of the related tax benefit and stock-based Indian fringe benefit tax expense. The stock-based Indian fringe benefit tax expense is a nondeductible expense since the cost is recovered from employees.

(f) Adjustment to exclude the per share effect of stock-based compensation expense net of the related tax benefit.

Cognizant Technology Solutions Corporation

CONTACT: Gordon Coburn, Chief Financial Officer & Operating Officer,
Cognizant, +1-201-678-2712; or Investors, Gordon McCoun, Hannah Sloane,
hannah.sloane@fd.com, or Press, Brian Maddox, all of Financial Dynamics,
+1-212-850-5600, for Cognizant

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

Stanley Reports Record Earnings for First Quarter Fiscal Year 2009Highlights:- Revenues up 29%, all organic(1), to $172.6 million;- Operating income up 42%, operating margin 8.3%;- Diluted EPS a record $0.35; and- Company increases guidance to reflect Oberon acquisition.

ARLINGTON, Va., July 31 /PRNewswire-FirstCall/ -- Stanley, Inc. , a leading provider of systems integration and professional services to the U.S. federal government, today announced record earnings for its first quarter ended June 27, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040106/DCTU010LOGO )

First quarter revenues exceeded the high end of company guidance by $4.6 million and diluted EPS exceeded the high end of guidance by $0.03. During the period, Stanley benefited from increased services related to U.S. passports and immigrant visas, ongoing demand for U.S. Navy SPAWAR C4ISR-related systems and services, and continued ramp-up of the U.S. Army's global equipment RESET activities.

First Quarter Fiscal Year 2009 Results:

Revenues for the first quarter ended June 27, 2008, all organic, were $172.6 million, an increase of 29 percent over first quarter fiscal year 2008 revenues of $133.5 million. EBITDA(2) was $16.1 million for the quarter, an increase of 38 percent over EBITDA of $11.7 million in the year-ago quarter. EBITDA margin for the first quarter was 9.4 percent compared with 8.8 percent a year earlier. Operating income was $14.3 million, up 42 percent from $10.0 million in the same quarter of last fiscal year. Operating margin was 8.3 percent versus 7.5 percent in the first quarter of fiscal 2008.

Net income for the quarter was $8.3 million versus $5.4 million a year ago. Diluted earnings per share for the quarter were $0.35 compared with diluted earnings per share of $0.23 for the first quarter of fiscal year 2008.

Cash flow from operations for the first quarter of fiscal year 2009 was $8.1 million. Days sales outstanding (DSO) for the first quarter was 83 days, up from 81 days for the fourth quarter of fiscal year 2008.

Contract backlog at June 27, 2008 was $2.0 billion, an increase of 12 percent from fourth quarter fiscal year 2008 contract backlog of $1.8 billion at March 31, 2008, and an increase of 102 percent from first quarter fiscal year 2008 contract backlog of $1.0 billion at June 30, 2007.

First Quarter 2009 and Recent Operational Highlights:

-- First quarter bookings totaled $384.7 million, equating to a book-to-bill ratio of 2.2:1;

-- Among the new business awards and additional tasking in the first quarter:

-- A contract to continue support for the Space and Naval Warfare Systems Center, Charleston, S.C. The contract includes four one-year options and three one-year award terms, which, if exercised and earned respectively, would bring the cumulative value of this contract to $249,882,601. The support provided by Stanley in Charleston and Norfolk, Va., will encompass production execution and technical support for the Mission Module / Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance Product Production effort;

-- A five-year, $58 million time-and-materials subcontract to continue to provide automated test and diagnostic support to the U.S. Army Aviation and Missile Research, Development and Engineering Center's Engineering Support Division; and

-- A five-year, $22 million firm-fixed price contract by the Global Combat Support Systems - Marine Corps to continue support of the Logistics Information Systems office.

-- During the first quarter, Stanley announced the acquisition of Oberon Associates, Inc. for $170 million, net of cash acquired, and completed the acquisition on July 15, 2008. The acquisition of Oberon, a provider of engineering, operational intelligence and information technology services, expands Stanley's services to key customers with the U.S. Army, U.S. Air Force, Defense Information Systems Agency, and several agencies throughout the intelligence community; and

-- During the first quarter of fiscal year 2009, Stanley began full operations at the Tucson Passport Center and began producing the U.S. Passport Card at the Arkansas Passport Center.

"Stanley posted an outstanding quarter to begin fiscal year 2009," said Phil Nolan, Stanley's chairman, president and CEO. "Our win of the SPAWAR Corporate Production follow-on contract gives us tremendous visibility for the second-largest component of our business. We remain confident that strength in our core business -- as well as the addition of Oberon -- will help us meet our increased revenue and earnings targets for fiscal year 2009."

Management's Outlook:

Based on the company's current contract backlog and management's estimate as to future tasking and contract awards, Stanley is issuing guidance for its fiscal year 2009 second quarter and full year. The table below represents management's current expectations about future financial performance, based on information available at this time:

Second Quarter Fiscal Year Fiscal Year 2009 2009 Ending Ending September 26, 2008 March 31, 2009 Revenues $184 - $192 million $755 - $780 million Diluted EPS $0.31 - $0.33 $1.30 - $1.38 Diluted projected share count 23.7 - 23.8 million 23.8 - 23.9 million

As previously announced, Stanley will conduct a conference call today at 5:00 p.m. EDT to discuss fiscal first quarter 2009 results. To obtain the dial-in number, please contact Rashida Gofney at (703) 310-3209. The conference call will be broadcast simultaneously on the Investor Relations page of the company's website, http://www.stanleyassociates.com/. Investors are advised to log on to the website at least 15 minutes prior to the call to register, download and install any necessary audio software. An archive of the webcast will be available for one week following the live event.

About Stanley

Stanley is a leading provider of information technology services and solutions to U.S. defense and federal civilian government agencies. Stanley offers its customers systems integration solutions and expertise to support their mission-essential needs at any stage of program, product development or business lifecycle through five service areas: systems engineering, enterprise integration, operational logistics, business process outsourcing, and advanced engineering and technology. Headquartered in Arlington, Va., the company has more than 4,400 employees at over 100 locations in the U.S. and worldwide. In 2008 and 2007, Stanley was recognized by FORTUNE(R) magazine as one of the "100 Best Companies to Work For." Please visit http://www.stanleyassociates.com/ for more information.

Any statements in this press release about our future expectations, plans and prospects, including statements containing the words "estimates," "anticipates," "plans," "expects" 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 as a result of various important factors discussed in our Annual Report on Form 10-K for the fiscal year ended March 31, 2008, as filed with the Securities and Exchange Commission (SEC), and additional filings we make with the SEC. In addition, the forward-looking statements included in this press release represent our views as of the date of this release. We assume no obligation to update publicly or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.

(1) Organic revenue growth, as presented, measures revenue growth adjusted for the impact of acquisitions. Stanley believes that this non-GAAP financial measure provides useful information because it allows investors to better assess the underlying growth rate of the company's existing business. This non-GAAP financial measure should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Please see the reconciliation table at the end of this release.

(2) EBITDA is a non-GAAP measure that is defined as GAAP net income (loss) plus other expense (income), interest expense, income taxes, and depreciation and amortization. We have provided EBITDA because we believe it is a commonly used measure of financial performance in comparable companies and is provided to help investors evaluate companies on a consistent basis, as well as to enhance an understanding of our operating results. EBITDA should not be construed as either an alternative to net income as an indicator of our operating performance or as an alternative to cash flows as a measure of liquidity. Please refer to the table at the end of this release that reconciles GAAP net income to EBITDA.

Condensed Consolidated Statements of Income (unaudited) (in thousands, except per share amounts) Quarter Ended June 27, 2008 June 30, 2007 Revenues $172,566 $133,481 Operating costs and expenses: Cost of revenues 145,760 112,329 Selling, general and administrative 10,659 9,423 Amortization of deferred compensation 62 75 Depreciation and amortization 1,779 1,609 Total operating costs & expenses 158,260 123,436 Operating income 14,306 10,045 Other income (expense): Other income 2 -- Interest expense - net (411) (1,062) Total other expenses (409) (1,062) Income before taxes 13,897 8,983 Provision for income taxes (5,580) (3,619) Net income $8,317 $5,364 Earnings per share: Basic $0.37 $0.24 Diluted $0.35 $0.23 Weighted average shares: Basic 22,676 21,898 Diluted 23,649 23,361 Condensed Consolidated Balance Sheets (in thousands, except share data) June 27, 2008 March 31, 2008 Assets (unaudited) Current assets: Cash $5,677 $271 Accounts receivable - net 156,251 160,928 Prepaid and other current assets 6,756 4,644 Total current assets 168,684 165,843 Property and equipment - net 16,291 12,894 Goodwill 113,615 113,615 Intangible assets - net 7,209 8,088 Deferred taxes 3,061 3,343 Other assets 2,287 2,272 Total assets $311,147 $306,055 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $19,458 $29,628 Accrued expenses and other liabilities 66,376 62,649 Current portion of long-term debt 1,000 1,000 Income taxes payable 2,696 5,836 Total current liabilities 89,530 99,113 Long-term debt - net of current portion 35,500 35,500 Other long-term liabilities 6,979 4,738 Total liabilities 132,009 139,351 Commitments and contingencies: Stockholders' equity Common stock, $0.01 par value -- 200,000,000 shares authorized; 23,448,941 and 22,822,697 issued, respectively 234 228 Additional paid-in capital 87,627 83,970 Retained earnings 92,521 84,204 Accumulated other comprehensive loss (522) (929) Less: Treasury stock; 595 and 0 shares at cost, respectively (15) -- Deferred compensation (707) (769) Total stockholders' equity 179,138 166,704 Total liabilities and stockholders' equity $311,147 $306,055 Organic Growth Reconciliation (unaudited) (in thousands) Quarter Ended June 27, 2008 June 30, 2007 Percent Growth Total revenues, as reported $172,566 $133,481 29% Plus: Revenues from acquired companies for the comparable prior year period -- -- Organic revenues $172,566 $133,481 29% EBITDA Reconciliation (unaudited) (in thousands) Quarter Ended June 27, 2008 June 30, 2007 Net income $8,317 $5,364 Provision for income taxes 5,580 3,619 Interest expense - net 411 1,062 Other income (2) -- Depreciation and amortization 1,779 1,609 Amortization of deferred compensation $62 $75 EBITDA $16,147 $11,729 Revenues $172,566 $133,481 EBITDA Margin 9.4% 8.8%

Photo: http://www.newscom.com/cgi-bin/prnh/20040106/DCTU010LOGO
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PRN Photo Desk photodesk@prnewswire.com Stanley, Inc.

CONTACT: Brian J. Clark, Executive Vice President and Chief Financial
Officer, +1-703-310-3236, or Lawrence Delaney, Jr., Investor Relations
Counsel, +1-703-739-7410, both of Stanley, Inc.

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

Activision Blizzard Announces Record June Quarter Stand-Alone Results for Activision- Activision's June Quarter Net Revenues Increase 32%; - EPS Hits Record June Quarter High -- Activision Blizzard's CY 08 Financial Outlook Exceeds CY 09 Targets -

SANTA MONICA, Calif., July 31 /PRNewswire-FirstCall/ -- Activision Blizzard, Inc. , which was formed on July 9 as a result of the closing of Activision's transaction with Vivendi S.A., today announced record stand-alone June quarter financial results for Activision, Inc.

For the quarter ended June 30, 2008, Activision's stand-alone net revenues were $654.2 million, a 32% increase, as compared to net revenues of $495.5 million reported for the June quarter last fiscal year. Activision's stand- alone net income for the June quarter was $59.0 million, or $0.18 earnings per diluted share, as compared to net income of $27.8 million, or earnings per diluted share of $0.09 reported for the previous fiscal year's June quarter. Excluding the impact of expenses related to equity-based compensation of $0.02 per diluted share and one-time costs related to the business combination between Activision and Vivendi Games of $0.02 per diluted share, Activision had non-GAAP net income of $74.3 million and non-GAAP earnings per diluted share of $0.23 for the June quarter. This compares to non-GAAP net income of $32.8 million and non-GAAP earnings per diluted share of $0.11 for the June quarter of the previous year, in each case excluding the impact of expenses related to equity-based compensation.

Separately, on July 24, 2008, Vivendi announced its preliminary June quarter financial results (on IFRS basis) which included results for the business that became part of Activision on July 9, 2008. For the quarter ended June 30, 2008, Vivendi reported 223 million euros in revenues and 42 million euros in EBITA for Vivendi Games which includes the results of Blizzard Entertainment(R).

Robert Kotick, CEO of Activision Blizzard, stated, "Activision's June quarter stand-alone results were the highest ever for a non-holiday quarter, driven by two new Guitar Hero titles -- Guitar Hero(R): Aerosmith(R) and Guitar Hero(R): On Tour(TM) --, Kung Fu Panda(TM) and continued sales of our catalogue titles. Our record performance highlights the continued strength of our business. We are well positioned to continue to capitalize on our strong product portfolio and the positive trends in our industry."

Kotick continued, "We have completed our transaction with Vivendi and our integration plans have identified higher than anticipated cost-synergy opportunities. Both Activision and Blizzard Entertainment's businesses have maintained their momentum. Activision Blizzard's combined outlook for calendar year 2008 is set to exceed the comparable calendar year 2009 non-GAAP financial targets that we provided on December 2, 2007, by approximately $600 million in non-GAAP net revenues and $100 million in non-GAAP operating income."

"We are very excited to add Vivendi Games' multi-million unit selling properties Crash Bandicoot(R), Ice Age(R) and Spyro(R), as well as two new intellectual properties -- Prototype and an as yet unannounced title -- to our game roster," commented Mike Griffith, President and CEO of Activision Publishing. "The combination with Vivendi Games strengthens our holiday slate which is already anchored by three of the top-selling franchises in the industry -- Guitar Hero, Call of Duty(R), James Bond and includes such highly anticipated games as Call of Duty(R): World at War, Guitar Hero(R) World Tour(TM) and Quantum of Solace(TM), as well as Crash Bandicoot(R): Mind Over Mutant and The Legend of Spyro(R): Dawn of the Dragon."

Mike Morhaime, CEO and co-founder of Blizzard Entertainment, added, "Since June 2007, World of Warcraft(R) has grown its subscriber base by over 1.8 million, to 10.9 million players. Blizzard Entertainment also continues to launch World of Warcraft in new territories and we are very excited about its recent release in Latin America and the upcoming launch in Russia. Blizzard has a strong pipeline of products in development including World of Warcraft: Wrath of the Lich King(TM), StarCraft(R) II and Diablo(R) III."

Business Highlights

Activision's record June quarter performance was driven by strong consumer response to the North American launch of Kung Fu Panda early in the quarter, which was the company's largest launch of a DreamWorks Animation licensed property. Late in the quarter, the company had two top selling North American games from the Guitar Hero franchise - Guitar Hero: Aerosmith, which ranked as one of Activision's top-five North American multiplatform launches, and Guitar Hero: On Tour, which was the largest North American launch for the Nintendo(R) DS(TM) in Activision's history.

For the quarter ended June 30 and the first half of the calendar year 2008, Activision was the #1 third-party publisher on the Nintendo platforms in the U.S., according to The NPD Group. The company also ranked as the #1 publisher worldwide on the PlayStation(R) 2 computer entertainment system, according to Charttrack, Gfk and The NPD Group.

Other business highlights are as follows:

-- In the U.S., for the first half of the calendar year, the Guitar Hero franchise remained the #1 best-selling franchise in dollars, according to The NPD Group.

-- During the quarter, Guitar Hero: On Tour was the #1 best-selling title overall in dollars in North America for the Nintendo DS, according to The NPD Group.

-- Kung Fu Panda was the #2 third-party children's title in dollars the U.S. for the quarter, according to The NPD Group.

-- For the quarter, Activision had three of the top-10 best-selling titles in dollars in the U.S., according to The NPD Group.

-- On July 9, 2008, Vivendi and Activision completed the transaction, announced on December 2, 2007 to create Activision Blizzard as the world's most profitable pure-play online and console game publisher. Activision Blizzard was formed by combining Activision, one of the world's leading independent publishers of interactive entertainment, and Vivendi Games, Vivendi's interactive entertainment business, which includes Blizzard Entertainment's(R) World of Warcraft(R), the world's #1 subscription-based massively multiplayer online role-playing game.

-- On July 11, 2008, Activision Blizzard announced that its Board of Directors approved a two-for-one stock split of its outstanding shares of common stock to be effected in the form of a common stock dividend. The company expects that the record date for the stock split will be a date shortly after the closing of the company's self tender offer.

-- On July 16, 2008, Activision Blizzard commenced a tender offer to purchase up to 146,500,000 shares of its outstanding common stock at a price of $27.50 per share representing approximately 22% of Activision Blizzard's

outstanding common stock as of July 9, 2008. The tender offer will expire on August 13, 2008, unless extended.

-- Activision Blizzard's fiscal year end has changed from March 31 to December 31.

Company Outlook

For the September quarter, Activision Publishing expects to continue releasing Guitar Hero: On Tour internationally and Sierra Entertainment's The Mummy: Tomb of the Dragon Emperor(TM), which released on July 22, 2008 on the Nintendo Wii(TM), Nintendo DS and the PlayStation(R) 2 computer entertainment system.

Activision Blizzard continues to expect that online functionality for certain key titles to be released in the December quarter of calendar year 2008 and thereafter will become a significant component of game play for certain platforms for which the company will have continuing performance obligations beyond the sale of the game. As a result, the company expects to begin recognizing a substantial amount of net revenues and costs of sales from these online-enabled games over a service period, which we currently estimate to be six months beginning the month after shipment.

Activision Blizzard anticipates that a considerable amount of net revenues and costs of sales that would have been recognized in the December quarter 2008 will be recognized in calendar year 2009. While this will not impact the economics of Activision Blizzard's business or its cash flows, these changes will have a material impact on the company's calendar 2008 GAAP results.

In order to provide comparable year-over-year performance information, Activision Blizzard's non-GAAP results will exclude the impact of the change in deferred net revenues and cost of sales related to those online-enabled key titles on certain platforms.

Additionally, in calendar 2008, in order to provide comparable operating performance information for the continuing operations of Activision Blizzard, the company's non-GAAP results will also exclude: equity-based compensation costs; the operating results of products and operations from the historical Vivendi Games businesses that the company intends to dispose of or exit; one-time costs related to the business combination with Vivendi Games (including transaction costs, integration costs, and restructuring activities); and the amortization of intangibles and the increase in the fair value of inventories and the associated increase in cost of sales resulting from purchase price accounting adjustments from the transaction.

The outlook does not incorporate any adjustments that would occur as a result of the company's previously announced stock split.

For the September quarter 2008, Activision Blizzard expects net revenues of $636 million and a loss per diluted share of $0.26. Excluding net revenues from the historical Vivendi Games businesses that the company intends to dispose of or exit ($16 million), the company expects non-GAAP net revenues of $620 million. Excluding the impact of equity-based compensation expense ($0.04 per share), the impact of the operating loss results from the historical Vivendi Games businesses that the company intends to dispose of or exit ($0.06 per share), one-time costs related to the business combination with Vivendi Games ($0.18 per share), and the amortization of intangibles and the increase in costs of sales resulting from purchase price accounting adjustments ($0.06 per share), Activision Blizzard expects non-GAAP earnings per diluted share of $0.08.

Activision Blizzard's September quarter outlook does not include net revenues of approximately $50 million that were generated between July 1 and July 9, 2008 when Activision was a stand-alone company. As the transaction with Vivendi is considered a reverse acquisition, for calendar 2008 the company's reported financial results for the period prior to the combination, (January 1 through July 9, 2008) will be those of Vivendi Games. Activision's businesses will be included in Activision Blizzard's financial statements for the period subsequent to the combination (July 10 through December 31, 2008).

For the December quarter 2008, Activision Blizzard expects net revenues of $1.85 billion and earnings per diluted share of $0.11. Excluding the impact

of the change in deferred net revenues related to online-enabled games ($450 million), the company expects non-GAAP net revenues of $2.3 billion.

Excluding the impact of the change in deferred net revenues and cost of sales related to online enabled games ($0.23 per share), equity-based compensation expense ($0.04 per share), the impact of the operating loss results from the historical Vivendi Games businesses that the company intends to dispose of or exit ($0.02 per share), one-time costs related to the business combination with Vivendi Games ($0.04 per share), and the amortization of intangibles and the increase in costs of sales resulting from purchase price accounting adjustments ($0.20 per share), Activision Blizzard expects non-GAAP earnings per diluted share of $0.64.

Conference Call

Today at 4:30 p.m. EDT, Activision Blizzard's management will host a conference call and Webcast to discuss Activision's stand-alone results for the quarter ended June 30, 2008 and management's outlook for the remainder of the calendar year. The company welcomes all members of the financial and media communities and other interested parties to visit the "Investor Relations" area of http://www.activisionblizzard.com/ to listen to the conference call via live Webcast or to listen to the call live by dialing into 719-325-4814 in the U.S.

Non-GAAP Financial Measures

Activision Blizzard provides net income (loss) and earnings (loss) per share data and guidance both including (in accordance with GAAP) and excluding (non-GAAP) the impact of expenses related to equity-based compensation costs; one-time costs related to the business combination between Activision and Vivendi Games (including transaction costs, integration costs, and restructuring activities should there be any); and the associated tax benefits. In the future Activision Blizzard's non-GAAP results and guidance will also exclude the impact of the change in deferred net revenues and costs of sales; the operating results of products and operations from the historical Vivendi Games businesses that the company intends to dispose or exit; the impact of purchase price accounting related adjustments including the amortization of intangibles, and the increase in the fair value of inventories and associated costs of sales; and the associated tax benefits.

As online functionality becomes a more important component of gameplay, in calendar 2008, the company expects that certain online-enabled games, to be released in calendar 2008, will contain a more-than-inconsequential separate service deliverable in addition to the product, and its performance obligations for these games will extend beyond the sale of the games. Vendor-specific objective evidence of fair value will not exist for the online services, as the company does not plan to separately charge for this component of online-enabled games.

As a result, for certain key titles to be released in the December quarter of calendar year 2008 and thereafter, the company will recognize all of the revenues from the sale of certain online-enabled games for certain platforms ratably over an estimated service period, which is currently estimated to be six months beginning the month after shipment. In addition, the company will defer the costs of sales of those titles. As a consequence, the company's non-GAAP results will exclude the impact of the change in deferred revenues and costs of sales related to certain online-enabled games for certain of the Microsoft, Sony, Nintendo and PC platforms in order to provide comparable year-over-year performance.

Additionally, in order to provide comparable operating performance information, as of June 30, 2008, Activision Blizzard has excluded from the non-GAAP operating results reported in this press release the impact of one-time costs related to the business combination between Activision and Vivendi Games including transaction and integration costs.

Non-GAAP net revenues, non-GAAP net income (loss), non-GAAP earnings (loss) per share, and non-GAAP operating margin, excluding (for the quarterly period ended June 30, 2008) expenses related to equity-based compensation and one-time costs related to the business combination between Activision and Vivendi Games (including transaction and integration costs and for future periods, the costs associated with restructuring activities should there be any), and, for future periods, excluding also the impact of changes in deferred net revenues and cost of sales; the operating results of products and operations from the historical Vivendi Games businesses that the company intends to dispose of or exit, the impact of purchase price accounting related adjustments including the amortization of intangibles and the increase in the fair value of inventories and associated costs of sales; are not determined in accordance with GAAP, and the exclusion of those items has the effect of increasing non-GAAP net revenues, non-GAAP net income, non-GAAP earnings per share and non-GAAP operating margin (and reducing non-GAAP net loss and non-GAAP loss per share) by the same amounts as compared with GAAP net revenues, GAAP net income (loss), GAAP earnings (loss) per share and GAAP operating margin for the period.

Activision Blizzard recognizes that there are limitations associated with the use of these non-GAAP financial measures as they do not reflect net revenues, net income (loss), earnings (loss) per share and operating margin as determined in accordance with GAAP, and may reduce comparability with other companies that calculate similar non-GAAP measures differently.

Management compensates for the limitations resulting from the exclusion of these items by considering the impact of these items separately and by considering Activision Blizzard's GAAP as well as non-GAAP results and outlook and, in this release, by presenting the most comparable GAAP measures, net revenues, net income (loss), earnings (loss) per share and operating margin directly ahead of non-GAAP net revenues, non-GAAP net income (loss), non-GAAP earnings (loss) per share, and non-GAAP operating margin, and by providing a reconciliation which indicates and describes the adjustments made.

Management believes that the presentation of these non-GAAP financial measures provides investors with additional useful information to measure Activision Blizzard's financial and operating performance because they allow for a better comparison of operating performance between periods. Management further believes that reflecting the use of non-GAAP measures that eliminate the impact of deferred revenues and costs of sales in its operating results is important to facilitate comparisons to prior periods during which the application of its accounting policies did not result in deferral of significant amounts of revenues and costs of sales related to online-enabled games. Internally, management uses these non-GAAP financial measures in assessing the company's operating results, as well as in planning and forecasting.

These non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures determined in accordance with GAAP.

These non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles, and the terms non-GAAP net revenues, non-GAAP net income (loss), non-GAAP earnings (loss) per share, non-GAAP operating margin do not have a standardized meaning. Therefore, other companies may use the same or similarly named measures, but exclude different items, which may not provide investors a comparable view of Activision Blizzard's performance in relation to other companies.

About Activision Blizzard

Activision entered into a Business Combination Agreement, dated as of December 1, 2007 with Vivendi S.A., among other things, to combine Vivendi Games and Activision. On July 9, 2008, Activision completed the transactions contemplated by this business combination agreement. Upon the closing of the transactions, Activision was renamed Activision Blizzard, Inc.

Headquartered in Santa Monica, California, Activision Blizzard, Inc. is a worldwide pure-play online and console game publisher with leading market positions across all categories of the rapidly growing interactive entertainment software industry.

Activision Blizzard maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, Norway, Denmark, the Netherlands, Romania, Australia, Chile, India, Japan, South Korea, China and the region of Taiwan More information about Activision Blizzard and its products can be found on the company's website, http://www.activisionblizzard.com/.

Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision Blizzard's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Activision Blizzard generally uses words such as "outlook," "will," "remains," "to be," "plans," "believes," "may," "expects," "intends," and similar expressions to identify forward-looking statements. Factors that could cause Activision Blizzard's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales levels of Activision Blizzard's titles, shifts in consumer spending trends, the seasonal and cyclical nature of the interactive game market, Activision Blizzard's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Blizzard's products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, litigation against Activision Blizzard, maintenance of relationships with key personnel, customers, vendors and third-party developers, domestic and international economic, financial and political conditions and policies, foreign exchange rates, integration of recent acquisitions and the identification of suitable future acquisition opportunities, Activision Blizzard's success in integrating the operations of Activision and Vivendi Games in a timely manner, or at all, and the combined company's ability to realize the anticipated benefits and synergies of the transaction to the extent, or in the timeframe, anticipated. Other such factors include the further implementation, acceptance and effectiveness of the remedial measures recommended or adopted by the special sub-committee of independent directors established in July 2006 to review Activision's historical stock option granting practices, the finalization of the tentative settlement of the SEC's formal investigation relating thereto, and other litigation unrelated to stock option granting practices and any additional risk factors identified in Activision's most recent annual report on Form 10-K and the definitive proxy statement filed on June 6, 2008 in connection with the Vivendi transaction. The forward-looking statements in this release are based upon information available to Activision Blizzard as of the date of this release, and Activision Blizzard assumes no obligation to update any such forward-looking statements.

Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.

(Tables to Follow) ACTIVISION, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except earnings per share data) Quarter ended June 30, 2008 2007 (Unaudited) (Unaudited) Net revenues $654,203 $495,455 Costs and expenses: Cost of sales - product costs 311,941 217,229 Cost of sales - software royalties and amortization 40,874 78,252 Cost of sales - intellectual property licenses 27,359 32,479 Product development 50,040 32,897 Sales and marketing 86,494 68,712 General and administrative 57,360 35,794 Total costs and expenses 574,068 465,363 Operating income 80,135 30,092 Investment income, net 10,948 11,562 Income before income tax provision 91,083 41,654 Income tax provision 32,068 13,828 Net Income $59,015 $27,826 Basic earnings per share $0.20 $0.10 Weighted average common shares outstanding 296,323 283,563 Diluted earnings per share $0.18 $0.09 Weighted average common shares outstanding assuming dilution 323,486 311,993 ACTIVISION, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) June 30, March 31, 2008 2008 ASSETS (Unaudited) Current assets: Cash, cash equivalents and short-term investments $1,252,714 $1,449,212 Accounts receivable, net 400,989 203,420 Inventories 229,409 146,874 Software development 136,765 96,182 Intellectual property licenses 26,710 18,661 Deferred income taxes 65,538 41,242 Other current assets 30,668 23,804 Total current assets 2,142,793 1,979,395 Long-term investments 88,301 91,215 Software development 17,692 13,604 Intellectual property licenses 63,595 64,890 Property and equipment, net 62,330 54,528 Deferred income taxes 29,997 32,825 Other assets 23,142 15,055 Goodwill 320,706 279,161 Total assets $2,748,556 $2,530,673 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $175,587 $129,896 Accrued expenses and other liabilities 445,971 426,175 Total current liabilities 621,558 556,071 Other liabilities 24,014 26,710 Total liabilities 645,572 582,781 Shareholders' equity: Common stock - - Additional paid-in capital 1,245,982 1,148,880 Retained earnings 831,675 772,660 Accumulated other comprehensive income 25,327 26,352 Total shareholders' equity 2,102,984 1,947,892 Total liabilities and shareholders' equity $2,748,556 $2,530,673 ACTIVISION, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME (In thousands, except earnings (loss) per share data) Cost of Sales - Software General Total Royalties Sales and Costs Quarter ended and Product and Admini- and June 30, 2008 Amortization Development Marketing strative Expenses GAAP Measurement $40,874 $50,040 $86,494 $57,360 $574,068 Less: Equity-Based Compensation Adjustment* 2,991 1,422 1,701 5,831 11,945 Less: One-time costs related to the business combination between Activision and Vivendi Games^ - - - 11,979 11,979 Non-GAAP Measurement $37,883 $48,618 $84,793 $39,550 $550,144 Basic Quarter ended Earnings Diluted June 30, 2008 Operating Net Income (Loss) per Earnings (Loss) Income (Loss) (Loss) Share per Share GAAP Measurement $80,135 $59,015 $0.20 $0.18 Less: Equity-Based Compensation Adjustment* (11,945) (7,275) (0.02) (0.02) Less: One-time costs related to the business combination between Activision and Vivendi Games^ (11,979) (7,981) (0.03) (0.02) Non-GAAP Measurement $104,059 $74,271 $0.25 $0.23 * Includes expense related to employee stock options, employee stock purchase plan and restricted stock rights under Statement of Financial Accounting Standards No. 123 (revised 2004), "Share-Based Payment." See explanation above regarding the Company's practice on reporting non-GAAP financial measures. The per share equity-based compensation adjustment is presented as calculated, and the GAAP and non-GAAP earnings (loss) per share information is also presented as calculated. The sum of these measures, as presented, may differ due to the impact of rounding. ^ One-time costs related to the business combination between Activision and Vivendi Games includes transaction and integration costs. ACTIVISION, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME (In thousands, except earnings (loss) per share data) Cost of Sales - Software General Total Royalties Sales and Costs Quarter ended and Product and Admini- and June 30, 2007 Amortization Development Marketing strative Expenses GAAP Measurement $78,252 $32,897 $68,712 $35,794 $465,363 Less: Equity-Based Compensation Adjustment* 1,845 1,507 1,771 3,037 8,160 Non-GAAP Measurement $76,407 $31,390 $66,941 $32,757 $457,203 Basic Quarter ended Earnings Diluted June 30, 2007 Operating Net Income (Loss) per Earnings (Loss) Income (Loss) (Loss) Share per Share GAAP Measurement $30,092 $27,826 $0.10 $0.09 Less: Equity-Based Compensation Adjustment* (8,160) (4,969) (0.02) (0.02) Non-GAAP Measurement $38,252 $32,795 $0.12 $0.11 * Includes expense related to employee stock options, employee stock purchase plan and restricted stock rights under Statement of Financial Accounting Standards No. 123 (revised 2004), "Share-Based Payment." See explanation above regarding the Company's practice on reporting non-GAAP financial measures. The per share equity-based compensation adjustment is presented as calculated, and the GAAP and non-GAAP earnings (loss) per share information is also presented as calculated. The sum of these measures, as presented, may differ due to the impact of rounding. ACTIVISION, INC. AND SUBSIDIARIES FINANCIAL INFORMATION For the Quarter Ended June 30, 2008 (Amounts in thousands) Percent Increase Quarter Ended (Decrease) June 30, 2008 June 30, 2007 % of % of Amount Total Amount Total Geographic Revenue Mix North America $392,916 60% $309,536 62% 27% International 261,287 40% 185,919 38% 41% Total net revenues $654,203 100% $495,455 100% 32% Segment/Platform Mix Publishing: Console $450,099 69% $358,773 72% 25% Hand-held 103,747 16% 56,616 12% 83% PC 24,716 3% 13,833 3% 79% Total publishing net revenues $578,562 88% $429,222 87% 35% Distribution: Console $57,361 9% $43,101 8% 33% Hand-held 15,886 3% 19,116 4% -17% PC 2,394 0% 4,016 1% -40% Total distribution net revenues $75,641 12% $66,233 13% 14% Total net revenues $654,203 100% $495,455 100% 32% ACTIVISION, INC. AND SUBSIDIARIES FINANCIAL INFORMATION For the Quarter Ended June 30, 2008 Quarter Ended Quarter Ended June 30, 2008 June 30, 2007 Publishing Net Revenues PC 4% 3% Console 78% 84% Sony PlayStation 3 15% 6% Sony PlayStation 2 19% 34% Microsoft Xbox 360 22% 35% Nintendo Wii 22% 8% Other 0% 1% Hand-held 18% 13% Sony PlayStation Portable 2% 3% Nintendo Dual Screen 16% 8% Nintendo Game Boy Advance 0% 2% Total publishing net revenues 100% 100% Activision Blizzard Outlook For the quarters ending September 30, 2008 and December 31, 2008 GAAP to Non-GAAP reconciliation (In millions, except earnings (loss) per share data) Outlook for Outlook for Quarter Ending Quarter Ending September 30, 2008 December 31, 2008 Net Revenues (GAAP) $636.0 $1,850.0 Excluding the impacts of: Results of products and operations that the company intends to dispose of or exit (16.0) - (a) Change in deferred net revenues related to online-enabled games - 450.0 (b) Non-GAAP Net Revenues $620.0 $2,300.0 (Loss) Earnings Per Diluted Share (GAAP) $(0.26) $0.11 Excluding the impacts of: Change in deferred net revenues and cost of sales related to online-enabled games - 0.23 (c) Equity-based compensation (including purchase price accounting related adjustments) 0.04 0.04 (d) Results of products and operations that the company intends to dispose of or exit 0.06 0.02 (e) One time costs related to the Vivendi transaction, integration, and restructuring 0.18 0.04 (f) Amortization of intangibles and purchase price accounting related adjustments 0.06 0.20 (g) Non-GAAP Earnings Per Diluted Share $0.08 $0.64 (a) Reflects net revenues from the historical Vivendi Games products and businesses that the company intends to dispose of or exit. (b) Reflects the net change in deferred net revenues for online-enabled games. (c) Reflects the net change in deferred net revenues and deferred cost of sales for online-enabled games. (d) Reflects equity-based compensation costs, including the increase in fair value associated with the historical Activision stock awards as part of the purchase price accounting adjustments. Also includes the costs of the Blizzard Entertainment equity plan and Vivendi awards to historical Vivendi Games employees. (e) Reflects the results of products and operations from the historical Vivendi Games businesses that the company intends to dispose of or exit. (f) Includes one-time costs related to the business combination with Vivendi Games (including transaction costs, integration costs, and restructuring activities). Restructuring activities includes severance costs, facility exit costs, and balance sheet write down and exit costs from the cancellation of projects. (g) Reflects amortization of intangible assets, and the increase in the fair value of inventories and associated cost of sales, all of which relate to purchase price accounting related adjustments.

Activision Blizzard, Inc.

CONTACT: Kristin Southey, Vice President, Investor Relations,
+1-310-255-2635, ksouthey@activision.com, or Maryanne Lataif, Vice President,
Corporate Communications, +1-310-255-2704, mlataif@activision.com, both of
Activision Blizzard, Inc.

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

Company News On-Call: http://www.prnewswire.com/comp/007396.html

RealNetworks Appoints Pradeep Jotwani to Board of Directors

SEATTLE, July 31 /PRNewswire-FirstCall/ -- Digital entertainment services company RealNetworks(R), Inc., today announced that Pradeep Jotwani has been appointed to the company's Board of Directors. Mr. Jotwani brings to Real's Board 26 years of information technology experience.

"Pradeep is a great addition to our board," said Rob Glaser, chairman and CEO of RealNetworks. "He brings a rare combination of breadth and depth that will serve RealNetworks well. I'm looking forward to working closely with Pradeep as we continue in our mission to enable consumers to enjoy digital entertainment whenever and wherever they are."

Mr. Jotwani served as a senior executive at Hewlett-Packard for 17 years from 1990 to 2007. Most recently he was the SVP and GM responsible for the $16 billion Printing Supplies business. Prior to that, he founded and served as President for HP's $15 billion Consumer Business.

"RealNetworks' position at the intersection of technology and entertainment gives it a great opportunity to serve consumers in new and innovative ways," said Mr. Jotwani. "I'm looking forward to working with Rob and the rest of the Board to advance Real's business."

Mr. Jotwani also serves on the Board of Directors for Presto, a Silicon Valley start up, the Advisory Board of the Markkula Center of Applied Ethics at Santa Clara University and the Board of Trustees of Crystal Springs Upland School in Hillsborough, California. He is also a Fellow of the American Leadership Forum in Silicon Valley and a teaching Guest Fellow at the Graduate School of Business at Stanford University.

RNWK - F

ABOUT REALNETWORKS

RealNetworks, Inc. delivers digital entertainment services to consumers via PC, portable music player, home entertainment system and mobile phone. Real created the streaming media category in 1995 and has continued to lead the market with pioneering products and services, including: RealPlayer(R), the first mainstream media player to enable one-click downloading and recording of Internet video; the award-winning Rhapsody(R) digital music service, which delivers more than 1 billion songs per year; RealArcade(R), one of the largest casual games destinations on the Web; and a variety of mobile entertainment services, such as ringback tones, offered to consumers through leading wireless carriers around the world. RealNetworks' corporate information is located at http://www.realnetworks.com/company.

RealNetworks, RealPlayer, Rhapsody and RealArcade are trademarks or registered trademarks of RealNetworks or its subsidiaries.

RealNetworks

CONTACT: Press, Bill Hankes, +1-206-892-6614, bhankes@real.com, or
Investors, Marj Charlier, +1-206-892-6718, mcharlier@real.com, both of
RealNetworks

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

Pericom Semiconductor Reports Record Fiscal Q4 and Full Year Fiscal 2008 Financial ResultsPosts Year-Over-Year Revenue Growth of 38% And Net Income Growth of 115%

SAN JOSE, Calif., July 31 /PRNewswire-FirstCall/ -- Pericom Semiconductor Corporation , a worldwide supplier of high-speed integrated circuits and frequency control products, today announced results for its fiscal fourth quarter and full fiscal year ended June 28, 2008.

Quarterly Highlights -- Net revenues grew 5% sequentially and 38% year-over-year to $43.4 million -- Net income increased 11% sequentially, and increased 115% year-over- year to $4.6 million Fiscal Year Highlights -- Net revenues grew 32.7% versus the prior year period -- Net income increased 97.2% versus the prior year period -- Gross margins expanded 200 basis points over the prior year period -- Total share repurchase activity totals 1.86 million shares

Net revenues for the fourth quarter were $43.4 million, up 5.3% from the $41.2 million reported in the third quarter, and up 37.6% from the $31.5 million reported in the comparable period last year. Gross margin was 36.0%, down from 37.6% last quarter, and down from 36.5% in the comparable period last year, mainly due to a higher mix of FCP products compared to the previous periods. Operating expenses in the quarter were $10.6 million, up from $10.2 million in the previous quarter and up from $9.8 million in the comparable period last year. Stock-based compensation expense in the quarter was $615,000, up from $585,000 in the previous quarter and up from $600,000 in the comparable period last year. Net income in the quarter was $4.6 million, or $0.17 per diluted share, compared with net income of $4.1 million, or $0.16 per diluted share in the third quarter and net income of $2.1 million, or $0.08 per diluted share, in the same period a year ago.

FY08 Operating Results

Net revenues for the twelve-month period ending June 28, 2008 were $163.7 million, up 32.7% from the $123.4 million in the prior year comparable period. Gross margin in the twelve-month period ending June 28, 2008 was 36.7%, up 200 bps from the 34.7% in the comparable period last year. Operating expenses in the twelve-month period ending June 28, 2008 were $40.8 million, up from $37.9 million in the comparable period last year. Stock based compensation expense for the twelve-month period ended June 28, 2008 was $2.4 million, up from $2.1 million in the comparable prior year period. Net income in the twelve-month period ending June 28, 2008 was $17.0 million, or $0.64 per diluted share, up from $8.6 million, or $0.32 per diluted share in the comparable prior year period.

"We continue to achieve strong results, due to strong demand in high-growth markets for our high performance serial protocol connectivity and timing solutions," said Alex Hui, President and Chief Executive Officer. "Revenues from high-speed serial protocol solutions for PCs and servers increased 34% sequentially and accounted for 12% of total revenue in Q4. Also during the quarter, we shipped a higher mix of FCP products, resulting in the sequential gross margin decline. We expect this trend to reverse, however, in the current quarter as we continue to execute on our margin expansion goals."

"Results were driven by strong demand from Computer and Communication segments and somewhat offset by softness in the Consumer segment. To date, the current macroeconomic environment has had a noticeable but modest impact on our results, and we believe the robust growth evident in fiscal year 2008 will extend into fiscal 2009 as customers continue to design in market-leading high performance connectivity and timing products," concluded Hui.

New Products

Pericom introduced 8 new products across the Signal Integrity, Timing and Connectivity product areas in this quarter.

Expanding its solution for high-speed serial protocols signal conditioning, Pericom introduced four 'Industry First' Re-Driver products for PCIe Gen 2, SATA2 and SAS applications on PC, Server, Storage and networking platforms. By conditioning and restoring the critical high speed signals to full strength, the Re-Drivers improve system reliability for the end users.

Expanding its timing solutions for high speed serial protocols, Pericom introduced a family of very low jitter PCIe Gen 2 clock oscillator/buffers, targeting Server, Set Top Box, Wireless, and Networking platforms.

Expanding its PCIe Connectivity solution, Pericom introduced three industry first PCIe bridge and packet switches in space saving packages with very low power dissipation, targeting Computing, Consumer and Networking platforms.

Share Repurchase Update

In April 2007, Pericom's board of directors authorized a share repurchase program to buy up to 2.0 million shares of its common stock. During the quarter, the Company did not repurchase any shares of Pericom common stock. To date, the Company has purchased a total of approximately 1.86 million shares under this program at an average price of $12.49.

Fiscal Q1 Outlook

The following statements are based on current expectations. These statements are forward looking, and actual results may differ materially.

-- Revenues in the first fiscal quarter are expected to be in the range of $44.0 million to $46.0 million. -- Gross margins are expected to be in the 36.0% to 37.0% range. Margins are influenced by the product mix of turns business and sales, if any, of previously reserved inventory. -- Operating expenses are expected to be in the range of $11.0 to $11.5 million, which include stock-based compensation expense of approximately $0.6 million. Expenses will be higher in Q1 mainly due to fiscal year end audit and SOX compliance activities. -- Other income is expected to be approximately $1.1 million, consisting primarily of interest income. -- The effective tax rate is expected to be approximately 33.0%. Conference Call

The press release will be followed by a conference call beginning at 1:30 p.m. Pacific time. To listen to the call, dial (877) 548-7915 and reference "Pericom". A slide presentation will accompany the conference call. To view the slides, please visit the investor relations section of http://www.pericom.com/.

A taped replay of the conference call will be made available for four business days. To listen to the replay, dial (888) 203-1112 and reference conference number 5434220. The Pericom financial results conference call will be available via a live webcast on the investor relations section of the web site at http://www.pericom.com/. Access the web site 15 minutes prior to the start of the call to download and install any necessary audio software. An archived webcast replay will be available on the web site for approximately 90 days.

About Pericom

Pericom Semiconductor Corporation enables serial connectivity with the industry's most complete solutions for the computing, communications and consumer market segments. Pericom's analog, digital and mixed-signal integrated circuits, along with its SaRonix-eCERA frequency control products are essential in the timing, switching, bridging and conditioning of high-speed signals required by today's ever-increasing speed and bandwidth demanding applications. Company headquarters is in San Jose, Calif., with design centers and technical sales and support offices globally. http://www.pericom.com/

This press release contains forward-looking statements as defined under The Securities Litigation Reform Act of 1995. Forward-looking statements in this release include the statements under the captions 'Fiscal Q1 Outlook', which regard the anticipated revenues, gross margin, operating expenses, other income and tax rate in the first fiscal quarter, and statements regarding the expectation that a lower mix of FCP products will be shipped in the current quarter, that Pericom will continue to execute on its margin expansion goals, that the growth evident in fiscal year 2008 will extend into fiscal 2009 and that Pericom's customers will continue to design in its connectivity and timing products. The Company's actual results could differ materially from what is set forth in such forward-looking statements due to a variety of risk factors, including softness in demand for our products, price erosion for certain of our products, unexpected difficulties in developing new products, customer decisions to reduce inventory, economic or financial difficulties experienced by our customers, or technological and market changes. All forward-looking statements included in this document are made as of the date hereof, based on information available to the Company as of the date hereof, and Pericom assumes no obligation to update any forward-looking statements. Parties receiving this release are encouraged to review our annual report on Form 10-K for the year ended June 30, 2007, and our quarterly report on Form 10-Q for the quarter ended March 28, 2008, and, in particular, the risk factors sections of those filings.

- See Attached Tables - Pericom Semiconductor Corporation Condensed Consolidated Statements of Operations (In thousands, except per share data) (unaudited) Three Months Ended Twelve Months Ended Jun 28 Mar 29 Jun 30 Jun 28 Jun 30 2008 2008 2007 2008 2007 Net revenues $43,373 $41,177 $31,520 $163,744 $123,370 Cost of revenues 27,768 25,709 20,027 103,638 80,557 Gross profit 15,605 15,468 11,493 60,106 42,813 Operating expenses: Research and development 4,296 4,503 3,991 17,159 16,021 Selling, general and administrative 6,294 5,705 5,822 23,624 21,878 Total 10,590 10,208 9,813 40,783 37,899 Income from operations 5,015 5,260 1,680 19,323 4,914 Interest and other income, net 1,606 903 1,403 5,501 6,330 Other than temporary decline in value of investment (24) (52) 0 (76) (6) Income before income taxes 6,597 6,111 3,083 24,748 11,238 Income tax expense 2,132 2,054 886 8,221 2,985 Minority interest in (income) loss in consolidated subsidiary (53) (47) 4 (116) (33) Equity in income (loss) of investees 181 131 (69) 602 407 Net income $4,593 $4,141 $2,132 $17,013 $8,627 Basic income per share $0.18 $0.16 $0.08 $0.66 $0.33 Diluted income per share $0.17 $0.16 $0.08 $0.64 $0.32 Shares used in computing basic income 25,480 25,835 25,880 25,737 26,058 per share Shares used in computing diluted income per share 26,472 26,633 26,500 26,611 26,669 - more - Pericom Semiconductor Corporation Condensed Consolidated Balance Sheets (In thousands) (unaudited) As of As of Jun 28,2008 Jun 30, 2007 Assets Current Assets: Cash & cash equivalents $41,646 $29,173 Short-term investments 72,109 42,268 Accounts receivable - trade 29,002 17,880 Inventories 17,921 14,787 Prepaid expenses and other current assets 7,627 2,410 Deferred income taxes 3,343 4,280 Total current assets 171,648 110,798 Property and equipment, net 29,173 23,940 Investments in unconsolidated affiliates 10,391 9,619 Deferred income taxes-non current 4,543 5,572 Long-term investments in marketable securities 10,172 59,574 Goodwill 1,325 1,348 Intangible assets 1,139 1,311 Other assets 3,192 2,073 Total assets $231,583 $214,235 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $13,431 $12,553 Accrued liabilities 8,779 8,718 Current portion of long-term debt 0 392 Total current liabilities 22,210 21,663 Long-term debt 0 388 Deferred tax liabilities 800 797 Other long-term liabilities 0 3 Minority interest in consolidated subsidiaries 1,118 906 Total liabilities 24,128 23,757 Shareholders' equity: Common stock 132,028 135,887 Retained earnings and other 75,427 54,591 Total shareholders' equity 207,455 190,478 Total liabilities and shareholders' equity $231,583 $214,235 - end -

Pericom Semiconductor Corporation

CONTACT: Jason Golz of FD Ashton Partners, +1-415-293-4411,
jason.golz@fdashtonpartners.com, for Pericom Semiconductor Corporation

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

Photon Dynamics Reports Fiscal 2008 Third Quarter Results

SAN JOSE, Calif., July 31 /PRNewswire-FirstCall/ -- Photon Dynamics, Inc. today reported financial results for the third quarter of fiscal year 2008, ended June 30, 2008.

Revenue for the third quarter of fiscal 2008 was $46.1 million, compared to second quarter of fiscal 2008 revenue of $45.1 million and third quarter of fiscal 2007 revenue of $14.4 million. Net income for the third quarter was $3.9 million or $0.21 earnings per diluted share, compared to second quarter net income of $3.9 million or $0.21 earnings per share and a net loss of $8.7 million or $0.52 loss per share for the third quarter a year ago.

Net income for the third quarter of fiscal 2008 reflects net charges of $2.5 million related to the following items:

-- Stock-based employee compensation expense of $1.1 million -- Acquisition related charges of $1.6 million -- Recovery of previously reserved inventory of $1.1 million -- Amortization of intangible assets of $0.9 million

Third quarter non-GAAP net income was $6.4 million or $0.34 earnings per diluted share, compared to second quarter non-GAAP net income of $4.2 million or $0.23 earnings per diluted share and non-GAAP loss of $8.1 million or $0.49 loss per share for the third quarter a year ago. A reconciliation of these non-GAAP measures is provided after the GAAP financial statements below.

Bookings for the third quarter of fiscal 2008 reached $105.0 million, and the Company posted a shippable backlog of $170.5 million at the end of June 2008. The Company noted that bookings and backlog are not necessarily indicative of future revenue and that historically bookings have fluctuated on a quarter-to-quarter basis. These fluctuations in bookings may continue in the future. The Company's cash, cash equivalents, short-term and long term investments were $71.8 million as of June 30, 2008.

"Photon Dynamics' results for the third fiscal quarter reflect the superb execution of our financial and operational initiatives as well as healthier than expected market conditions in the second half of 2008," said Jeff Hawthorne, president and chief executive officer. "While the revenue grew 2%, our net income on a non-GAAP basis increased by 50% sequentially. As exemplified in our third consecutive record bookings of $105 million, our continuous product innovation, dedicated customer support, and enhanced business efficiency positioned us exceptionally well to benefit from the near term strength in the LCD equipment market. We firmly believe in the long term growth prospects for the LCD market and our capability of capitalizing on that growth. Photon Dynamics remains fully devoted to meeting our customer commitments and keenly focused on fulfilling the customers' delivery requirements."

On June 26, Photon Dynamics, Inc. and Orbotech Ltd. announced the signing of a definitive agreement for Orbotech to acquire Photon Dynamics. The transaction is subject to customary conditions to closing, including approval by Photon Dynamics' shareholders and requisite regulatory approvals, and is expected to close during the second half of 2008. Given the pending transaction, the Company has suspended the historic practice of providing the Company projection for the coming quarter.

Information Regarding Non-GAAP Financial Measures

Photon Dynamics provides non-GAAP net income and earnings per share data in addition to its operating results. These measures are not in accordance with or an alternative for GAAP, and may be different from non-GAAP measures used by other companies. Photon Dynamics' non-GAAP net income or loss and non-GAAP earnings per diluted share exclude the effect of SFAS 123 (R), acquisition related charges, recovery of previously reserved inventory, and amortization of intangible assets. Management believes that these non-GAAP financial measures can enhance the comparability of historical results, and as a result uses these measures in making financial, operating and planning decisions and in evaluating the Company's performance.

About Photon Dynamics, Inc.

Photon Dynamics, Inc. is a global supplier utilizing advanced machine vision technology for market leading Liquid Crystal Display (LCD) flat panel display test and repair systems and for high performance digital imaging systems for defense, surveillance, industrial inspection and medical imaging applications. For more information about Photon Dynamics, visit its website at http://www.photondynamics.com/.

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

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as PDI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, projections, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are based on current expectations as of the date of this press release and are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include but are not limited to: cancellations or rescheduling of backlog which could cause revenue to fail to meet expectations; our continued ability to sustain profitability; competitive and growth trends in the overall flat panel market; and those risks and uncertainties described in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations under the caption "Factors Affecting Operating Results" in Photon Dynamics' Annual Report on Form 10-K for the year ended September 30, 2007 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2008 as filed with the Securities and Exchange Commission. As a result, actual results may differ substantially from expectations. Photon Dynamics undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise.

PHOTON DYNAMICS, INC. CONSOLIDATED BALANCE SHEET (Unaudited) (In thousands) June 30, March 31, September 30, 2008 2008 2007 ASSETS Current assets: Cash and cash equivalents $60,672 $44,344 $41,170 Short-term investments 10,156 19,321 42,640 Accounts receivable, net 36,894 30,210 11,934 Inventories 21,409 18,081 13,292 Refundable customs obligations 632 676 560 Other current assets 5,066 4,870 3,661 Total current assets 134,829 117,502 113,257 Long-term investments 1,000 1,525 1,176 Land, property and equipment, net 9,725 8,637 10,583 Other assets 6,174 5,952 5,365 Intangible assets, net 8,348 9,240 11,023 Goodwill 6,857 6,857 6,857 Total assets $166,933 $149,713 $148,261 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $22,112 $14,637 $4,217 Warranty 5,824 3,583 3,217 Employee notes payable 2,733 2,733 - Customs obligations 438 690 4,114 Other current liabilities 11,963 10,084 9,874 Deferred gross margin 1,699 773 3,236 Total current liabilities 44,769 32,500 24,658 Non-current liabilities: Long-term employee note payable 2,667 2,667 5,381 Other non-current liabilities - - 38 Total non-current liabilities 2,667 2,667 5,419 Shareholders' equity: Common stock 302,413 301,222 300,290 Accumulated deficit (182,352) (186,238) (181,503) Accumulated other comprehensive income (563) (438) (603) Total shareholders' equity 119,498 114,546 118,184 Total liabilities and shareholders' equity $166,933 $149,713 $148,261 PHOTON DYNAMICS, INC. CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) (In thousands, except per share data) Nine Months Ended Three Months Ended June 30, 6/30/2008 3/31/2008 6/30/2007 2008 2007 Revenue $46,121 $45,093 $14,430 $107,390 $49,793 Cost of revenue 24,986 27,110 11,215 63,821 40,769 Gross margin 21,135 17,983 3,215 43,570 9,024 Operating expenses: Research and development 7,309 6,156 6,213 18,681 21,343 Selling, general and administrative 9,216 7,535 5,831 24,071 17,197 Restructuring charge (benefit) - - (95) - 1,368 Impairment of property and equipment - - - - 2,834 Loss (gain) on sale of property and equipment - 1 (0) (49) (0) Amortization of intangible assets 892 892 254 2,675 999 Total operating expenses 17,417 14,584 12,203 45,378 43,741 Income (loss) from operations 3,719 3,399 (8,988) (1,809) (34,717) Interest income and other, net 423 618 327 1,885 3,337 Income (loss) before income taxes 4,141 4,018 (8,661) 77 (31,380) Provision for income taxes 255 163 72 560 278 Net income (loss) $3,886 $3,854 $(8,733) $(483) $(31,658) Net income (loss) per share: Basic $0.22 $0.22 $(0.52) $(0.03) $(1.91) Diluted $0.21 $0.21 $(0.52) $(0.03) $(1.91) Weighted average number of shares: Basic 17,786 17,749 16,635 17,759 16,605 Diluted 18,624 18,561 16,635 17,759 16,605 Non-GAAP Net Income (Loss) Reconciliation For All Non-GAAP Items (In thousands, except per share data) Nine Months Ended Three Months Ended June 30, 6/30/2008 3/31/2008 6/30/2007 2008 2007 GAAP net income (loss) $3,886 $3,854 $(8,733) $(483) $(31,658) Stock-based employee compensation expense 1,060 509 425 1,982 1,513 Restructuring charge - - (95) - 1,368 Acquisition related charges 1,631 - - 1,631 - Impairment of property and equipment - - - - 2,834 Loss (gain) on sale of property and equipment - 1 - (49) (0) Recovery of previously reserved inventory (1,105) (1,906) - (3,011) - Amortization of intangible assets 892 892 254 2,675 999 Restatement related expenses - 868 - 2,300 - Non-GAAP net income (loss) per share $6,364 $4,218 $(8,149) $5,046 $(24,944) Non-GAAP Net Income (Loss) Per Diluted Share Reconciliation For All Non-GAAP Items GAAP net income (loss) per share - diluted $0.21 $0.21 $(0.52) $(0.03) $(1.91) Stock-based employee compensation expense 0.06 0.03 0.03 0.11 0.09 Restructuring charge - - (0.01) - 0.08 Acquisition related charges 0.09 - - 0.09 - Impairment of property and equipment - - - - 0.17 Loss (gain) on sale of property and equipment - 0.00 - (0.00) (0.00) Recovery of previously reserved inventory (0.06) (0.10) - (0.17) - Amortization of intangible assets 0.05 0.05 0.02 0.14 0.06 Restatement related expenses - 0.04 - 0.12 - Non-GAAP net income (loss) per share - diluted $0.34 $0.23 $(0.49) $0.26 $(1.50) Shares used in basic shares calculation 17,786 17,749 16,635 17,759 16,605 Shares used in diluted shares calculation 18,624 18,561 16,635 18,594 16,605

Photon Dynamics, Inc.

CONTACT: So-Yeon Jeong, Vice President, Investor Relations and Marketing
Communications of Photon Dynamics, Inc., +1-408-360-3084,
soyeon.jeong@photondynamics.com

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

Monolithic Power Systems Announces Record Second Quarter and First Half 2008 Results

SAN JOSE, Calif., July 31 /PRNewswire-FirstCall/ -- Monolithic Power Systems (MPS) , a leading fabless manufacturer of high-performance analog and mixed-signal semiconductors, today announced financial results for the three and six months ended June 30, 2008.

The results for the quarter ended June 30, 2008 are as follows: -- Net revenues of $41.5 million, up 34.6% from $30.8 million in the second quarter of 2007 and up 17.2% sequentially from $35.4 million in the first quarter of 2008 -- Gross margin of 63.0%, compared to 63.5% in the second quarter of 2007 and 63.2% in the first quarter of 2008 -- GAAP operating expenses of $21.8 million, including $17.5 million for research and development and selling, general and administrative expenses, which includes $3.2 million for stock-based compensation, and $4.3 million for patent litigation expenses -- Non-GAAP(1) operating expenses of $18.6 million, excluding $3.2 million for stock-based compensation -- GAAP net income of $4.6 million, with GAAP EPS of $0.13 per diluted share -- Non-GAAP(1) net income of $7.1 million, or $0.20 per diluted share, excluding stock-based compensation and related tax effects The results for the six months ended June 30, 2008 are as follows: -- Net revenues of $76.9 million, compared to $55.3 million for the six months ended June 30, 2007, an increase of 39.0% -- Gross margin of 63.0%, compared to 63.5% for the six months ended June 30, 2007 -- GAAP operating expenses of $38.8 million, including $33.8 million for research and development and selling, general and administrative expenses, which includes $6.0 million for stock-based compensation and $5.0 million for patent litigation expenses -- Non-GAAP(1) operating expenses of $32.9 million, excluding $6.0 million for stock-based compensation -- GAAP net income of $10.5 million, with GAAP EPS of $0.29 per diluted share -- Non-GAAP(1) net income of $14.7 million, or $0.41 per diluted share, excluding stock-based compensation and related tax effects

"MPS set an all-time record for revenue in the second quarter," said Michael Hsing, chief executive officer and founder of MPS, "and we are pleased with the continued success of the execution of our strategies."

Business Outlook

The following are MPS' financial targets for the third quarter ending September 30, 2008:

-- Revenues in the range of $46 million to $49 million -- Gross margin in the mid to upper end of the company's target range of 60% to 63% -- Research and development and selling, general and administrative expenses between $18.2 million and $19.6 million. Non-GAAP(1) research and development and selling, general and administrative expenses between $15.0 million and $16.0 million. This excludes an estimate of stock-based compensation expense in the range of $3.2 million to $3.6 million -- Litigation expense in the range of $1.4 million to $1.8 million (1) Non-GAAP net income, non-GAAP operating expenses and non-GAAP research and development and selling, general and administrative expense differ from net income, operating expenses, and research and development and selling, general and administrative expense determined in accordance with GAAP (Generally Accepted Accounting Principles in the United States). Non-GAAP net income for the quarter and six months ended June 30, 2008 and 2007 excludes the effect of stock-based compensation expense and a patent litigation settlement amount and their related tax effects, and includes a reversal of the lease write-off that was recorded previously. Non- GAAP operating expenses for the quarter and six months ended June 30, 2008 and 2007 exclude the effect of stock-based compensation expense and a patent litigation settlement amount, and include a reversal of the lease write-off that was recorded previously. Projected non-GAAP research and development and selling, general and administrative expenses exclude the effect of stock-based compensation expense and related tax effects. A schedule reconciling these amounts is included in this news release. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. MPS utilizes both GAAP and non-GAAP financial measures to assess what it believes to be its core operating performance and to evaluate and manage its internal business and assist in making financial operating decisions. MPS believes that the inclusion of non-GAAP financial measures, together with GAAP measures, provides investors with an alternative presentation useful to investors' understanding of MPS' core operating results and trends. Additionally, MPS believes that the inclusion of non-GAAP measures, together with GAAP measures, provides investors with an additional dimension of comparability to similar companies. However, investors should be aware that non-GAAP financial measures utilized by other companies are not likely to be comparable in most cases to the non- GAAP financials measures used by MPS. Conference Call

MPS plans to conduct a management teleconference covering its second quarter and first half 2008 results at 2:00 p.m. PT / 5:00 p.m. ET today, July 31, 2008. To access the conference call and following replay, go to http://ir.monolithicpower.com/ and click the webcast link. From this site, you can listen to the teleconference, assuming that your computer system is configured properly. In addition to the webcast replay, which will be archived for all investors for one year on the MPS website, a phone replay will be available for seven days after the live call at 617-801-6888, code number 48865373. This press release and any other information related to the call will also be posted on the website.

Safe Harbor Statement

This press release contains forward-looking statements regarding targeted revenues, gross margin, GAAP and non-GAAP research and development and selling, general and administrative expenses, stock-based compensation expense and litigation expense for the three months ending September 30, 2008. These statements are not historical facts or guarantees of future performance or events, are based on current expectations, estimates, beliefs, assumptions, goals, and objectives, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results expressed by these statements. Readers of this press release and listeners to the accompanying conference call are cautioned not to place undue reliance on any forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, the risks, uncertainties and costs of litigation in which the company is involved; the outcome of any upcoming trials, hearings, motions, and appeals; any market disruptions or interruptions in MPS' schedule of new product release development; adverse changes in production and testing efficiency; adverse changes in government regulations in foreign countries where MPS has offices; acceptance of, or demand for, MPS' products being lower than expected; the adverse impact on MPS' financial performance if its tax and litigation provisions are inadequate; difficulty in predicting or budgeting for future expenses and financial contingencies; and other important risk factors identified in MPS' SEC filings, including, but not limited to, its Form 10-Q filed on May 14, 2008.

The forward-looking statements in this press release represent MPS' targets, not predictions of actual performance. MPS assumes no obligation to update the information in this press release or in the accompanying conference call.

About Monolithic Power Systems, Inc.

Monolithic Power Systems, Inc. (MPS) develops and markets proprietary, advanced analog and mixed-signal semiconductors. The company combines advanced process technology with its highly experienced analog designers to produce high-performance power management integrated circuits (ICs) for DC to DC converters, LED drivers, Cold Cathode Fluorescent Lamp (CCFL) backlight controllers, Class D audio amplifiers, and Linear ICs. MPS products are used extensively in computing and network communications products, LCD monitors and TVs, and a wide variety of consumer and portable electronics products. MPS partners with world-class manufacturing organizations to deliver top quality, ultra-compact, high-performance solutions through the most productive, cost- efficient channels. Founded in 1997 and headquartered in San Jose, California, the company has expanded its global presence with sales offices in Taiwan, China, Korea, Japan, and Europe, which operate under MPS International, Ltd.

Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries.

Consolidated Balance Sheet (Unaudited, in thousands, except par value) June 30, December 31, 2008 2007 ASSETS Current assets: Cash and cash equivalents $75,595 $83,114 Short-term investments 4,735 27,765 Accounts receivable, net of allowances of $0 in 2008 and $227 in 2007 13,033 8,239 Inventories 24,120 17,487 Deferred income tax asset-current 76 72 Prepaid expenses and other current assets 4,794 4,733 Restricted cash 7,360 7,350 Total current assets 129,713 148,760 Property and equipment, net 14,606 14,175 Long-term investments 39,140 - Deferred income tax asset-long term 776 776 Other assets 614 539 Restricted assets 8,608 8,340 Total assets $193,457 $172,590 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $12,626 $6,154 Accrued compensation and related benefits 7,488 8,299 Accrued liabilities 17,325 14,959 Total current liabilities 37,439 29,412 Deferred rent 107 237 Non-current income tax liability 5,319 5,318 Other long term liabilities - 86 Total liabilities 42,865 35,053 Stockholders' equity: Common stock, $0.001 par value, $34 and $33 in 2008 and 2007, respectively; shares authorized: 150,000,000; shares issued and outstanding: 33,669,624 and 33,454,595 in 2008 and 2007, respectively 145,896 143,890 Deferred stock compensation - (3) Retained earnings (accumulated deficit) 3,720 (6,815) Accumulated other comprehensive income 976 465 Total stockholders' equity 150,592 137,537 Total liabilities and stockholders' equity $193,457 $172,590 Consolidated Income Statement (Unaudited, in thousands, except per share amounts) Three months ended Six months ended June 30, June 30, June 30, June 30, 2008 2007 2008 2007 (as restated) (as restated) Revenue $41,502 $30,833 $76,911 $55,329 Cost of revenue* 15,375 11,248 28,419 20,211 Gross profit 26,127 19,585 48,492 35,118 Operating expenses: Research and development* 8,602 6,428 16,174 12,360 Selling, general and administrative* 8,912 7,119 17,640 13,316 Lease abandonment - (496) - (496) Patent litigation settlement - 9,800 - 9,800 Provision for litigation expense 4,294 4,028 5,030 6,875 Total operating expenses 21,808 26,879 38,844 41,855 Income (loss) from operations 4,319 (7,294) 9,648 (6,737) Other income (expense): Interest and other income 810 1,169 2,244 2,176 Interest and other expense (112) (22) (118) (29) Total other income, net 698 1,147 2,126 2,147 Income (loss) before income taxes 5,017 (6,147) 11,774 (4,590) Income tax provision 417 219 1,239 2,105 Net income (loss) $4,600 $(6,366) $10,535 $(6,695) Basic net income (loss) per share $0.14 $(0.20) $0.32 $(0.22) Diluted net income (loss) per share $0.13 $(0.20) $0.29 $(0.22) Weighted average common shares outstanding 33,229 31,382 33,287 30,929 Stock options and restricted stock 3,003 - 2,804 - Diluted weighted-average common equivalent shares outstanding 36,232 31,382 36,091 30,929 *Stock-based compensation has been included in the following line items: Cost of revenue $128 $113 $173 $224 Research and development 1,396 952 2,603 2,053 Selling, general and administrative 1,819 1,440 3,354 2,548 Total $3,343 $2,505 $6,130 $4,825 RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME (in thousands, except per share amounts) Net income (loss) $4,600 $(6,366) $10,535 $(6,695) Adjustments to reconcile net income to non-GAAP net income Stock-based compensation $3,343 $2,505 $6,130 $4,825 Patent litigation settlement - 9,800 - 9,800 Reversal of lease write-off - (540) - (540) Tax effect (837) (1,186) (1,924) (618) Non-GAAP net income $7,106 $4,214 $14,741 $6,773 Non-GAAP earnings per share, excluding stock-based compensation and related tax effects: Basic $0.21 $0.13 $0.44 $0.22 Diluted $0.20 $0.12 $0.41 $0.20 Shares used in the calculation of non-GAAP earnings per share: Basic 33,229 31,382 33,287 30,929 Diluted 36,232 34,656 36,091 34,230 RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES (in thousands, except per share amounts) Total operating expenses $21,808 $26,879 $38,844 $41,855 Adjustments to reconcile total operating expenses to non-GAAP total operating expenses Stock-based compensation $(3,215) $(2,392) $(5,957) $(4,601) Patent litigation settlement - (9,800) - (9,800) Reversal of lease write-off - 496 - 496 Non-GAAP total operating expenses $18,593 $15,183 $32,887 $27,950 2008 Third Quarter Outlook RECONCILIATION OF R&D AND SG&A EXPENSES TO NON-GAAP R&D AND SG&A EXPENSES (in thousands) Three months ended September 30, 2008 Low High R&D and SG&A $18,200 $19,600 Adjustments to reconcile R&D and SG&A to non-GAAP R&D and SG&A Stock-based compensation (3,200) (3,600) Non-GAAP R&D and SG&A $15,000 $16,000

Monolithic Power Systems, Inc.

CONTACT: Rick Neely, Chief Financial Officer of Monolithic Power
Systems, Inc., +1-408-826-0777, investors@monolithicpower.com

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

RealNetworks Announces Second Quarter 2008 Results

SEATTLE, July 31 /PRNewswire-FirstCall/ -- Digital entertainment services company RealNetworks(R), Inc. today announced results for the second quarter ended June 30, 2008.

Quarterly Highlights: * Revenue of $152.6 million * Net loss of $1.3 million or $0.01 per share * Adjusted EBITDA of $17.4 million

"We achieved solid results in the second quarter," said Rob Glaser, CEO of RealNetworks. "We also launched a major initiative -- Music Without Limits -- that substantially strengthens Rhapsody by integrating mobile music and legal mp3s from all major labels."

For the second quarter of 2008, revenue grew 12% to $152.6 million compared with $136.2 million for the second quarter of 2007. Revenue growth in the second quarter of 2008 compared with the second quarter of 2007 was due to: a 40% increase in Games revenue to $34.9 million, of which $4 million was due to the acquisition of TryMedia; a 15% increase in Media Software and Services revenue to $29.2 million; a 5% increase in Technology Products and Solutions revenue to $51.3 million; and a 1% increase in music revenue to $37.2 million. Foreign currency exchange rate fluctuations positively affected 2008 second quarter revenue by approximately $1.1 million compared with the second quarter of 2007.

Net loss for the second quarter of 2008 was $1.3 million or $0.01 per share, compared with net income of $1.3 million or $0.01 per diluted share in the second quarter of 2007. Income taxes were $3.7 million compared with $2.2 million in the year-earlier period, and interest income was $3.4 million compared with $8.1 million. Adjusted EBITDA for the second quarter of 2008 was $17.4 million compared with $12.7 million in the second quarter of 2007. A reconciliation of GAAP net income to adjusted EBITDA is provided in the financial tables that accompany this release.

Gross margin was 64% in the second quarter of 2008, consistent with the gross margin a year earlier. Operating expenses for the second quarter of 2008 were $109.7 million, compared with $92.1 million in the second quarter of 2007. Operating expenses in the second quarter of 2008 included $9.2 million of related party advertising in Rhapsody America.

As of June 30, 2008, Real had approximately $523 million in unrestricted cash, cash equivalents and short-term investments, and $100 million of convertible debt. On July 1, $99.9 million of the convertible debt was repaid.

During the quarter, RealNetworks repurchased 218,000 shares of its common stock for approximately $1.5 million under a repurchase authorization approved by the board in April, 2008. Since the beginning of 2005, Real has repurchased approximately 44.4 million shares through its repurchase programs for $333.5 million.

Business Outlook

The following forward-looking statements reflect Real's expectations as of July 31, 2008. It is not Real's general practice to update these forward- looking statements until its next quarterly results announcement.

For the full year 2008, Real expects revenue in the range of $620 million to $630 million. Real expects 2008 GAAP net loss per share to be between $(0.06) and $(0.02) and adjusted EBITDA of between $63 million to $70 million. Real's earnings per share guidance for 2008 includes tax expense of between $7 million and $9 million, and pretax income is expected to be between a loss of $(2) million and income of $6 million.

For the third quarter of 2008, Real expects revenue in the range of $151 million to $155 million. Real expects third quarter GAAP net loss per share of $(0.05) to $(0.03), and expects adjusted EBITDA of between $10 million and $13 million. Real's earnings per share guidance for the third quarter of 2008 includes a tax benefit in the range of $1.4 million to $1.0 million, and pretax income is expected to be between a loss of $(8.6) million and a loss of $(5.2) million. For 2008, Real expects that small changes in its pre-tax earnings will result in large changes to its GAAP tax rate, which could significantly affect Real's quarterly GAAP results.

Webcast and Conference Call Information

The Company will host a webcast and conference call today at 5:00pm (Eastern)/ 2:00pm (Pacific). The live webcast featuring slides and audio, will be available at http://investor.realnetworks.com/. Listeners must use RealPlayer(R) to listen to the conference call, which can be downloaded for free at http://www.real.com/. The on-demand webcast will be available approximately two hours following the conclusion of the live webcast. Participants may access the conference call by dialing 800-857-5305 (773-681-5857 for international callers). The passcode is "Second Quarter Earnings," and the leader is Rob Glaser.

Telephonic replay will be available until 8:00 p.m. (Eastern), August 14, 2008. Dial In: 866-435-5410 (for domestic callers); and 203-369-1030 (for international callers).

RNWK-F ABOUT REALNETWORKS

RealNetworks, Inc. delivers digital entertainment services to consumers via PC, portable music player, home entertainment system and mobile phone. Real created the streaming media category in 1995 and has continued to lead the market with pioneering products and services, including: RealPlayer(R), the first mainstream media player to enable one-click downloading and recording of Internet video; the award-winning Rhapsody(R) digital music service, which delivers more than 1 billion songs per year; RealArcade(R), one of the largest casual games destinations on the Web; and a variety of mobile entertainment services, such as ringback tones, offered to consumers through leading wireless carriers around the world. RealNetworks' corporate information is located at http://www.realnetworks.com/company.

About Non-GAAP Financial Measures

To supplement RealNetworks' condensed consolidated financial statements presented in accordance with GAAP, we present investors with certain non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA by reporting segment, adjusted cost of revenue and adjusted operating expenses.

* Adjusted EBITDA and adjusted EBITDA by reporting segment consist of net income excluding the impact of the following: interest income, net; income taxes; depreciation; amortization (net of minority interest effect); stock-based compensation; expenses for employee stock options that were converted to cash rights; equity investment gains and losses from sales or impairments; income and expenses including charitable contributions related to the Microsoft agreements; and gain on initial formation of Rhapsody America. * Adjusted cost of revenue consists of GAAP cost of revenue excluding stock-based compensation expenses, and acquisition costs including amortization of intangible assets (net of minority interest effect) and expenses for employee stock options that were converted to cash rights. * Adjusted operating expenses consist of GAAP operating expenses excluding stock-based compensation expenses, antitrust litigation expenses (benefits) and acquisition costs including amortization of intangible assets (net of minority interest effect) and expenses for employee stock options that were converted to cash rights.

RealNetworks believes that the presentation of adjusted EBITDA, adjusted EBITDA by reporting segment, adjusted cost of revenue and adjusted operating expenses provides important supplemental information to management and investors regarding financial and business trends relating to the company's financial condition and results of operations. Management believes that the use of these non-GAAP financial measures provides consistency and comparability with our past financial reports, and also facilitates comparisons with other companies in our industry, many of which use similar non-GAAP financial measures to supplement their GAAP results. Management has historically used these non-GAAP measures when evaluating operating performance because the inclusion or exclusion of the items described above provides additional useful measures of our operating results and facilitates comparisons of our core operating performance against prior periods and our business model objectives. We have chosen to provide this information to investors in order to enable them to perform additional analyses of past, present and future operating performance, to enable them to compare us to other companies, and as a supplemental means to evaluate our ongoing operations. Externally, we believe that adjusted EBITDA continues to be useful to investors in their assessment of our operating performance and the valuation of our company.

Internally, adjusted EBITDA, adjusted EBITDA by reporting segment, adjusted cost of revenue, and adjusted operating expenses are significant measures used by management for purposes of:

* supplementing the financial results and forecasts reported to our board of directors; * evaluating the operating performance of our company which includes direct and incrementally controllable revenue and costs of operations, but excludes items considered by management to be either non-cash or non-operating such as interest income and expense, stock-based compensation, tax expense, depreciation and amortization; * managing and comparing performance internally across our businesses and externally against our peers; * establishing internal operating budgets; and * evaluating and valuing potential acquisition candidates.

Adjusted EBITDA, adjusted EBITDA by reporting segment, adjusted cost of revenue, and adjusted operating expenses are not calculated in accordance with GAAP, and should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Non- GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of our business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of RealNetworks' results as reported under GAAP. We expect to continue to incur expenses similar to the non-GAAP adjustments described above, and exclusion of these items from our non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent. Some of the limitations in relying on our non-GAAP financial measures are:

* Adjusted EBITDA and adjusted EBITDA by reporting segment are measures which we have defined for internal and investor purposes and are not in accordance with GAAP. A further limitation associated with these measures is that they do not include all costs and income that impact our net income and net income per share. We compensate for these limitations by prominently disclosing GAAP net income (loss), which we believe is the most directly comparable GAAP measure, and providing investors with reconciliations from GAAP net income (loss) to adjusted EBITDA and adjusted EBITDA by reporting segment. * Adjusted cost of revenue is limited in that it does not include stock-based compensation expenses, and certain costs associated with our acquisitions. Adjusted operating expenses are limited in that they do not include stock-based compensation expenses, antitrust litigation expenses (benefit) and certain costs associated with our acquisitions. We compensate for these limitations by prominently disclosing the reported GAAP results and providing investors with a reconciliation from GAAP to the adjusted amount.

In the financial tables of our earnings press release, RealNetworks has included reconciliations of GAAP net income (loss) to adjusted EBITDA, income before income taxes to adjusted EBITDA by reporting segment, GAAP cost of revenue to adjusted cost of revenue and GAAP operating expenses to adjusted operating expenses for the relevant periods.

Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to Real's current expectations for future revenue, GAAP net income (loss) per share, adjusted EBITDA, tax expense and pre-tax income, income tax expense, interest income, depreciation and amortization and stock-based compensation expense. Actual results may differ materially from the results predicted. Factors that could cause actual results to differ from the results predicted include: risks associated with the ability to complete the previously announced casual games spin off transactions and their impact on the games business and Real's remaining businesses; potentially large changes in Real's GAAP tax rate that could result from even small changes in Real's pretax earnings; development and consumer acceptance of legal online music distribution services generally and RealNetworks' content services in particular because these are relatively new and unproven business models and markets; risks associated with the creation and operation of Rhapsody America; risks associated with acquisitions generally, and the acquisitions of WiderThan, Sony NetServices, GameTrust, Trymedia and Exomi in particular, including the risks of integration, unknown liabilities and operations in new markets and geographies; the potential that we will be unable to continue to enter into commercially attractive agreements with third parties for the provision of compelling content for our subscription service offerings; the emergence of new entrants and competition in the market for digital media subscription offerings and online music sales; the impact on our gross margins of content costs and from the mix of subscribers to subscription offerings with higher content costs than others; competitive risks, including competing technologies, products and services, and the competitive activities of our larger competitors, some of which have strong ties to streaming media users through other products; risks associated with the introduction of new products and services; risks inherent in strategic relationships, especially with competitors, and technology and service integration efforts; and risks relating to the ability of Real's strategic partners to generate subscribers for Real's digital content services. More information about potential risk factors that could affect RealNetworks' business and financial results is included in RealNetworks' annual report on Form 10-K for the most recent year ended December 31, and its quarterly reports on Form 10-Q and from time to time in other reports filed by RealNetworks with the Securities and Exchange Commission. More information about risks relating to the potential spin off of the games business is listed in the safe harbor for forward looking statements contained in the press release announcing the proposed spin off transaction as well as in our Form 10-Q to be filed for the quarter ended June 30, 2008. The preparation of our financial statements and forward-looking financial guidance requires us to make estimates and assumptions that affect the reported amount of assets and liabilities and the reported amounts of revenues and expenses during the reported period. Actual results may differ materially from these estimates under different assumptions or conditions. The Company assumes no obligation to update any forward-looking statements or information, which are in effect as of their respective dates.

RealNetworks, Rhapsody, RealPlayer and RealArcade are trademarks or registered trademarks of RealNetworks, Inc. or its subsidiaries. All other companies or products listed herein are trademarks or registered trademarks of their respective owners.

RealNetworks, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Quarters Ended Six Months Ended June 30, June 30, 2008 2007 2008 2007 (in thousands, except per share data) Net revenue $152,648 $136,171 $300,211 $265,643 Cost of revenue 55,645 49,199 111,038 95,142 Gross profit 97,003 86,972 189,173 170,501 Operating expenses: Research and development 29,065 25,005 54,071 48,484 Sales and marketing 53,054 50,081 106,650 99,781 Advertising with related party (A) 9,240 - 16,580 - General and administrative 18,337 17,063 35,421 34,417 Restructuring charge - - 686 - Subtotal operating expenses 109,696 92,149 213,408 182,682 Antitrust litigation benefit, net (B) - - - (60,747) Total operating expenses 109,696 92,149 213,408 121,935 Operating (loss) income (12,693) (5,177) (24,235) 48,566 Other income (expenses): Interest income, net 3,375 8,065 8,333 17,167 Equity in net loss of investments (107) - (198) (132) Gain on sale of equity investment, net 222 132 222 132 Minority interest in Rhapsody America (C) 8,177 - 16,792 - Gain on sale of interest in Rhapsody America (D) 3,371 - 7,097 - Other income 50 485 818 952 Other income, net 15,088 8,682 33,064 18,119 Income before income taxes 2,395 3,505 8,829 66,685 Income taxes (3,700) (2,178) (7,708) (25,397) Net income $(1,305) $1,327 $1,121 $41,288 Basic net income per share $(0.01) $0.01 $0.01 $0.26 Diluted net income per share $(0.01) $0.01 $0.01 $0.24 Shares used to compute basic net income per share 142,905 153,880 142,946 157,929 Shares used to compute diluted net income per share 142,905 169,033 156,000 173,822 (A) Consists of advertising purchased by Rhapsody America from MTV Networks (MTVN). MTVN has a 49% ownership interest in Rhapsody America. (B) Consists of amounts received under the Settlement and Commercial agreements with Microsoft, net of certain legal fees, personnel costs, public relations and other professional service fees incurred related to antitrust complaints against Microsoft, including proceedings in the European Union. (C) Minority interest reflects MTVN's 49% ownership share in the losses of Rhapsody America. (D) Consists of gains realized from MTVN's note payments to Rhapsody America. RealNetworks, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) June 30, December 31, 2008 2007 (in thousands) ASSETS Current assets: Cash and cash equivalents $415,805 $476,697 Short-term investments 106,862 79,932 Trade accounts receivable, net 71,177 84,674 Deferred costs, current portion 8,598 6,408 Prepaid expenses and other current assets 39,168 33,845 Total current assets 641,610 681,556 Equipment, software, and leasehold improvements, at cost: Equipment and software 124,406 109,621 Leasehold improvements 30,875 30,632 Total equipment, software, and leasehold improvements 155,281 140,253 Less accumulated depreciation and amortization 94,763 83,756 Net equipment, software, and leasehold improvements 60,518 56,497 Restricted cash equivalents and investments 14,670 15,509 Equity investments 8,126 9,976 Other assets 16,419 10,161 Deferred tax assets, net, non-current portion 40,169 40,913 Other intangible assets, net 90,506 107,677 Goodwill 341,551 353,153 Total assets $1,213,569 $1,275,442 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $29,748 $56,160 Accrued and other liabilities 106,654 114,136 Deferred revenue, current portion 40,680 39,564 Related party payable (A) 9,992 17,241 Convertible debt 100,000 100,000 Accrued loss on excess office facilities, current portion 4,311 3,389 Total current liabilities 291,385 330,490 Deferred revenue, non-current portion 1,608 2,663 Accrued loss on excess office facilities, non- current portion 4,797 7,311 Deferred rent 4,675 4,518 Deferred tax liabilities, net, non- current portion 18,311 22,060 Other long-term liabilities 10,152 13,683 Total liabilities 330,928 380,725 Minority interest (B) 10,931 19,613 Shareholders' equity 871,710 875,104 Total liabilities and shareholders' equity $1,213,569 $1,275,442 (A) Related party payable reflects amounts owed to MTVN. (B) Minority interest reflects MTVN's 49% ownership interest in the net assets of Rhapsody America. RealNetworks, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, 2008 2007 (in thousands) Cash flows from operating activities: Net income $1,121 $41,288 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Depreciation and amortization 25,701 20,905 Stock-based compensation 11,520 11,307 Loss on disposal of equipment, software, and leasehold improvements 182 163 Equity in net loss of investments 198 132 Gain on sale of equity investment, net (222) (132) Excess tax benefit from stock option exercises (88) (596) Accrued loss on excess office facilities (1,593) (1,795) Unrealized gain on trading securities - (2,102) Purchase of trading securities - (270,000) Deferred income taxes (2,138) (6,069) Minority interest in Rhapsody America (16,792) - Gain on sale of interest in Rhapsody America (7,097) - Other 89 51 Net change in certain assets and liabilities, net of acquisitions (39,159) 552 Net cash used in operating activities (28,278) (206,296) Cash flows from investing activities: Purchases of equipment, software, and leasehold improvements (15,231) (11,525) Purchases of short-term investments (95,671) (38,768) Proceeds from sales and maturities of short-term investments 68,741 70,343 Purchases of intangible assets - (2,060) Proceeds from the sales of equity investments 1,225 1,615 Payment of acquisition costs, net of cash acquired (10,164) (25,351) Decrease in restricted cash equivalents and investments 839 1,800 Net cash used in investing activities (50,261) (3,946) Cash flows from financing activities: Net proceeds from sales of common stock under employee stock purchase plan and exercise of stock options 6,041 12,277 Net proceeds from sales of interest in Rhapsody America 14,607 - Excess tax benefit from stock option exercises 88 596 Repurchase of common stock (681) (107,905) Net cash provided by (used in) financing activities 20,055 (95,032) Effect of exchange rate changes on cash (2,408) (410) Net decrease in cash and cash equivalents (60,892) (305,684) Cash and cash equivalents, beginning of period 476,697 525,232 Cash and cash equivalents, end of period $415,805 $219,548 RealNetworks, Inc. and Subsidiaries Supplemental Financial Information (Unaudited) 2008 2007 Q2 Q1 Q4 Q3 Q2 Q1 (in thousands) Net Revenue by Line of Business: Consumer products and services (A) $101,353 $96,286 $96,998 $91,824 $87,115 $85,040 Technology products and solutions (B) 51,295 51,277 59,884 53,271 49,056 44,432 Total net revenue $152,648 $147,563 $156,882 $145,095 $136,171 $129,472 Consumer Products and Services: Subscriptions (C) $55,658 $55,193 $54,784 $55,551 $51,091 $51,490 Media properties (D) 23,472 18,702 20,438 16,071 17,748 15,932 E-commerce and other (E) 22,223 22,391 21,776 20,202 18,276 17,618 Total consumer products and services revenue $101,353 $96,286 $96,998 $91,824 $87,115 $85,040 Consumer Products and Services: Music (F) $37,170 $38,079 $40,540 $37,658 $36,801 $34,127 Media software and services (G) 29,238 26,409 25,572 25,346 25,419 27,011 Games (H) 34,945 31,798 30,886 28,820 24,895 23,902 Total consumer products and services revenue $101,353 $96,286 $96,998 $91,824 $87,115 $85,040 Net Revenue by Geography: United States $100,898 $99,169 $96,806 $91,281 $88,035 $84,554 Rest of world 51,750 48,394 60,076 53,814 48,136 44,918 Total net revenue $152,648 $147,563 $156,882 $145,095 $136,171 $129,472 Subscribers (presented as greater than) *: Total subscribers (I) 35,000 32,200 30,200 29,250 26,150 24,550 Technology products and solutions application services subscribers (J) 32,450 29,500 27,600 26,600 23,600 21,900 Music subscribers: Consumer music subscribers (K) 1,875 1,875 1,900 1,925 1,850 1,875 Technology products and solutions application services music subscribers (L) 800 800 825 825 825 800 Total Music Subscribers** 2,675 2,675 2,725 2,750 2,675 2,675 * Beginning the quarter ended December 31, 2006, total subscribers reflect the inclusion of subscribers related to wireless carrier application subscription services. Total music subscribers includes subscribers from our technology products and solutions application subscription services, such as music-on-demand, as well as our consumer music services, such as Rhapsody and Premium Radio. Although music-on-demand subscribers are included in the technology products and solutions application services subscribers and total music subscribers, these subscribers are only counted once as part of our total subscribers. ** Prior periods have been changed to reflect current period presentation. Totals may not equal due to rounding convention. (A) Revenue is derived from consumer digital media subscription services, RealPlayer Plus and related products, sales and distribution of third party software products, content such as games and music and advertising. (B) Revenue is derived from carrier application services such as ringback tones and music-on-demand, media delivery system software, support and maintenance services, broadcast hosting services and consulting services. (C) Revenue is derived from consumer digital media subscription services including: SuperPass, RadioPass, Rhapsody, GamePass and stand-alone subscriptions. (D) Revenue is derived from advertising and through the distribution of third party products. (E) Revenue is derived from RealPlayer Plus and related products, sales of third party software products, and content such as games and music. (F) Revenue is derived from Rhapsody and RadioPass subscription services and sales of music content, advertising generated from our music and music related websites and the distribution of third party products. (G) Revenue is derived from SuperPass subscriptions, RealPlayer Plus and related products, stand-alone subscription services, sales and distribution of third-party software products and advertising related to our non-game and non-music related web properties. (H) Revenue is derived from GamePass subscription service, sales of games, advertising generated from our games and game-related websites and the distribution of third-party products. (I) Total subscribers include technology products and solutions application services and consumer subscription services including: ringback tones, music-on-demand, video-on-demand, Rhapsody, Rhapsody-to-Go, RadioPass, SuperPass, GamePass, and stand-alone subscriptions. (J) Technology products and solutions application service subscribers include: ringback tones, music-on-demand and video-on-demand. (K) Consumer music subscribers include: Rhapsody, Rhapsody-to-Go, premium radio, and music-on-demand. (L) Technology products and solutions application services music subscribers include subscribers from application services including music-on-demand. RealNetworks, Inc. and Subsidiaries Supplemental Financial Information (Unaudited) Reconciliation of GAAP net income (loss) to adjusted EBITDA is as follows: Quarters Ended June 30, March 31, Dec. 31, Sept. 30, June 30, March 31, 2008 2008 2007 2007 2007 2007 (in thousands) Net income (loss) in accordance with GAAP $(1,305) $2,426 $2,685 $4,342 $1,327 $39,961 Interest income, net (3,375) (4,958) (6,417) (7,290) (8,065) (9,102) Stock-based compensation 6,031 5,489 6,627 5,984 5,622 5,685 Loss (gain) on equity investments, net (222) - 34 - (132) - Conversion of WiderThan stock options to a cash equivalent 26 89 190 413 614 845 Depreciation and amortization (net of minority interest effect) 6,186 6,282 5,703 6,210 5,661 4,621 Acquisitions related intangible asset amortization (net of minority interest effect) 6,171 6,315 6,639 5,583 5,311 5,312 Gain on initial formation of Rhapsody America - - - (3,866) - - Expenses (benefit) related to antitrust litigation: Income - - - - - (61,000) Expenses 202 202 179 201 202 471 Charitable contributions - - - - - 1,921 Income taxes 3,700 4,008 47 2,012 2,178 23,219 Adjusted EBITDA $17,414 $19,853 $15,687 $13,589 $12,718 $11,933 RealNetworks, Inc. and Subsidiaries Segment Results of Operations (Unaudited) Quarter Ended June 30, 2008 Grand Music (A) Consumer (B) TPS (C) Other Total (in thousands) Net revenue $37,170 $64,183 $51,295 $- $152,648 Cost of revenue 20,693 14,362 20,590 - 55,645 Gross profit 16,477 49,821 30,705 - 97,003 Gross margin 44% 78% 60% - 64% Operating expenses: Advertising with related party 9,240 - - - 9,240 Other operating expenses 23,412 44,029 32,778 237 100,456 Total operating expenses 32,652 44,029 32,778 237 109,696 Income (loss) from operations (16,175) 5,792 (2,073) (237) (12,693) Other income (expenses): Interest income, net - - - 3,375 3,375 Minority interest 8,177 - - - 8,177 Equity in net loss of investments - - - (107) (107) Gain on sale of equity investment, net - - - 222 222 Gain on sale of interest in Rhapsody America 3,371 - - - 3,371 Other income - - - 50 50 Other income, net 11,548 - - 3,540 15,088 Income (loss) before income taxes $(4,627) $5,792 $(2,073) $3,303 $2,395 Reconciliation of segment GAAP income (loss) before taxes to segment adjusted EBITDA is as follows: Income (loss) before income taxes $(4,627) $5,792 $(2,073) $3,303 $2,395 Interest income, net - - - (3,375) (3,375) Stock-based compensation 1,089 2,331 2,611 - 6,031 Conversion of WiderThan stock options to a cash equivalent - - 26 - 26 Acquisitions related intangible asset amortization (D) 384 914 4,873 6,171 Gain on initial formation of Rhapsody America - - - - - Gain on sale of equity investments, net - - - (222) (222) Depreciation and amortization (D) 1,262 1,815 3,109 - 6,186 Expenses (benefit) related to antitrust litigation: Income - - - - - Expenses - - - 202 202 Charitable contributions - - - - - Adjusted EBITDA $(1,892) $10,852 $8,546 $(92) $17,414 Quarter Ended June 30, 2007 Grand Music (A) Consumer (B) TPS (C) Other Total (in thousands) Net revenue $36,801 $50,314 $49,056 $- $136,171 Cost of revenue 19,804 9,436 19,959 - 49,199 Gross profit 16,997 40,878 29,097 - 86,972 Gross margin 46% 81% 59% - 64% Operating expenses: Other operating expenses 24,037 34,814 33,096 202 92,149 Total operating expenses 24,037 34,814 33,096 202 92,149 Income (loss) from operations (7,040) 6,064 (3,999) (202) (5,177) Other income (expenses): Interest income, net - - - 8,065 8,065 Gain on sale of equity investments, net - - - 132 132 Other income - - - 485 485 Other income, net - - - 8,682 8,682 Income (loss) before income taxes $(7,040) $6,064 $(3,999) $8,480 $3,505

Reconciliation of segment GAAP income (loss) before taxes to segment adjusted EBITDA is as follows:

Income (loss) before income taxes $(7,040) $6,064 $(3,999) $8,480 $3,505 Interest income, net - - - (8,065) (8,065) Stock-based compensation 1,129 2,142 2,351 - 5,622 Conversion of WiderThan stock options to a cash equivalent - - 614 - 614 Acquisitions related intangible asset amortization (D) 22 583 4,706 - 5,311 Gain on sale of equity investments, net - - - (132) (132) Depreciation and amortization (D) 1,214 1,461 2,986 - 5,661 Expenses (benefit) related to antitrust litigation: Income - - - - - Expenses - - - 202 202 Charitable contributions - - - - - Adjusted EBITDA $(4,675) $10,250 $6,658 $485 $12,718 Note: Cost of revenue and operating expenses of the segments shown above include costs directly attributable to those segments and an allocation of general and administrative and other common or shared costs. (A) The Music segment primarily includes revenue and related costs from: Rhapsody America's Rhapsody and Radiopass subscription services; sales of digital music content through the Rhapsody service and the RealPlayer music store; and advertising from music websites. (B) The Consumer segment primarily includes revenue and related costs from: the sale of individual games through our RealArcade service and our Games related websites; our GamePass and FunPass subscription service; our SuperPass and stand-alone premium video subscription services; RealPlayer Plus and related products; sales and distribution of third-party software products; and all advertising other than that related directly to our Music businesses. (C) TPS comprises our Technology Products and Solutions segment which includes revenue and related costs from: sales of ringback tone, music-on-demand, video-on-demand, messaging, and information services; sales of media delivery system software, including Helix system software and related authoring and publishing tools, both directly to customers and indirectly through original equipment manufacturer (OEM) channels; support and maintenance services sold to customers who purchase software products; broadcast hosting services; and consulting and professional services that are offered to customers. (D) Net of minority interest effect within our Music segment. RealNetworks, Inc. and Subsidiaries Supplemental Financial Information (Unaudited) Quarter Ended June 30, 2008 Acquis- WiderThan itions Options Related Converted Anti- Stock- Intangible to a trust Based Asset Cash Litiga- As Compen- Amortiz- Equiv- tion Reported sation ation(A) alent Related Adjusted (in thousands) Expenses in accordance with GAAP Cost of revenue $55,645 $(662) $(2,282) $(1) $- $52,700 Operating expenses: Research and development $29,065 $(2,146) $- $- $- $26,919 Sales and marketing 53,054 (1,433) (3,889) (7) - 47,725 Advertising with related party 9,240 - - - - 9,240 General and administrative 18,337 (1,790) - (18) (202) 16,327 Restructuring charge - - - - - - Total adjusted operating expenses, net $109,696 $(5,369) $(3,889) $(25) $(202) $100,211 Quarter Ended June 30, 2007 Acquis- WiderThan itions Options Related Converted Anti- Stock- Intangible to a trust Based Asset Cash Litiga- As Compen- Amortiz- Equiv- tion Reported sation ation alent Related Adjusted (in thousands) Expenses in accordance with GAAP Cost of revenue $49,199 $(154) $(1,988) $(117) $- $46,940 Operating expenses: Research and development $25,005 $(1,641) $- $(128) $- $23,236 Sales and marketing 50,081 (2,203) (3,323) (299) - 44,256 General and administrative 17,063 (1,624) - (70) (202) 15,167 Antitrust litigation benefit, net - - - - - - Total adjusted operating expenses, net $92,149 $(5,468) $(3,323) $(497) $(202) $82,659 Six Months Ended June 30, 2008 Acquis- WiderThan itions Options Related Converted Anti- Stock- Intangible to a trust Based Asset Cash Litiga- As Compen- Amortiz- Equiv- tion Reported sation ation(A) alent Related Adjusted (in thousands) Expenses in accordance with GAAP Cost of revenue $111,038 $(896) $(4,597) $(22) $- $105,523 Operating expenses: Research and development $54,071 $(4,059) $- $(46) $- $49,966 Sales and marketing 106,650 (3,341) (7,889) (29) - 95,391 General and administrative 16,580 - - - - 16,580 Antitrust litigation benefit, net 35,421 (3,224) - (18) (404) 31,775 Restructuring charge 686 - - - - 686 Total adjusted operating expenses, net $213,408 $(10,624) $(7,889) $(93) $(404) $194,398 Six Months Ended June 30, 2007 Acquis- WiderThan itions Options Related Converted Anti- Stock- Intangible to a trust Based Asset Cash Litiga- As Compen- Amortiz- Equiv- tion Reported sation ation alent Related Adjusted (in thousands) Expenses in accordance with GAAP Cost of revenue $95,142 $(313) $(4,132) $(244) $- $90,453 Operating expenses: Research and development $48,484 $(3,413) $- $(279) $- $44,792 Sales and marketing 99,781 (4,590) (6,491) (648) - 88,052 General and administrative 34,417 (2,991) - (288) (2,341) 28,797 Antitrust litigation benefit, net (60,747) - - - 60,747 - Total adjusted operating expenses, net $121,935 $(10,994) $(6,491) $(1,215) $58,406 $161,641 RealNetworks, Inc. and Subsidiaries Supplemental Financial Information (Unaudited)

A reconciliation of GAAP net income (loss) guidance for the quarter ending September 30, 2008 and the full year ending December 31, 2008 to adjusted EBITDA guidance is as follows:

Quarter Ending Year Ending September 30, 2008 December 31, 2008 Low High Low High Net income (loss) in accordance with GAAP $(7.2) $(4.2) $(9.0) $(3.0) Interest income, net & other (2.2) (2.5) (12.7) (13.0) Stock-based compensation and conversion of WiderThan stock options to a cash equivalent 6.8 7.2 24.0 26.0 Depreciation and amortization, including acquisitions related intangible asset amortization (net of minority interest effect) 14.0 13.5 53.7 51.0 Income tax expense (benefit) (1.4) (1.0) 7.0 9.0 Total adjusted EBITDA $10.0 $13.0 $63.0 $70.0

RealNetworks, Inc.

CONTACT: Press, Bill Hankes, +1-206-892-6614, bhankes@real.com, or
Financial, Marj Charlier, +1-206-892-6718, mcharlier@real.com, both of
RealNetworks, Inc.

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

Informatica to Present at Pacific Crest Technology Forum

REDWOOD CITY, Calif., July 31 /PRNewswire-FirstCall/ -- Informatica Corporation , the leading independent provider of data integration software, today announced that Earl Fry, executive vice president and CFO, and Chris Boorman, senior vice president and chief marketing officer, will present a corporate overview at the Pacific Crest Technology Forum in Vail, Colorado on Monday, August 4, 2008 at 10:00 a.m. MDT.

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 August 11, 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 3,300 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/

Philadelphia Soul and Virgin Mobile USA Announce Free Soul Celebration Featuring Bon Jovi to Celebrate AFL Championship Season

PHILADELPHIA, July 31 /PRNewswire-FirstCall/ -- Virgin Mobile USA and Bon Jovi will offer up some rock and soul with a free Soul Celebration featuring Bon Jovi as a follow up to the Philadelphia Soul's Virgin Mobile ArenaBowl XXII championship. Virgin Mobile USA today announced that in celebration of the Soul's ArenaBowl victory, the no-annual contract wireless company will be presenting a free, live Soul Celebration featuring Bon Jovi to be held at a time and place to be announced next week. The celebration is part of a broader partnership that Virgin Mobile USA and the Philadelphia Soul are finalizing to run throughout the 2009 season. The Philadelphia Soul and Virgin Mobile USA will work together to offer Soul fans and Virgin Mobile USA customers access into this exclusive event.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070613/VIRGINMOBILE )

"We are thrilled to partner with the Philadelphia Soul to bring this legendary band to perform a free, live Soul Celebration as the perfect follow-up to the teams' Virgin Mobile ArenaBowl Championship XXII," said Bob Stohrer, Chief Marketing Officer, Virgin Mobile USA. "We look forward to working with the team to get Soul fans as well as Virgin Mobile USA customers into this exclusive event."

About Virgin Mobile USA, Inc.

Virgin Mobile USA , through its operating company Virgin Mobile USA, L.P., offers millions of customers control, flexibility and choice through monthly Plans Without Annual Contracts, with national coverage powered by the Sprint PCS network. Virgin Mobile USA's full slate of smart, stylish and affordable handsets, including the Wild Card, Slash and Flare, are available at approximately 40,000 top retailers nationwide and online at http://www.virginmobileusa.com/, with Top-Up cards available at more than 140,000 locations. Virgin Mobile USA, known for its award-winning customer service, was recently rated the best prepaid wireless service for the second year in a row in the Annual PC Magazine Readers' Choice Survey, with 90% of its own customers reporting satisfaction with its service.

About The Philadelphia Soul

The Soul celebrated their fifth anniversary this season with a 59-56 win over the San Jose SaberCats in Virgin Mobile ArenaBowl XXII. The Soul drew a total of 131,817 fans this season, their largest number since their inaugural season of 2004. The Soul sold out four games in the 2008 season and averaged a crowd of 16,477 fans per game. Since their inception, the Soul have drawn a total of 646,043 fans, the most in the AFL over that time frame. Following last season, the Soul were recognized with the Commissioner's Award as the Organization of the Year and were an honorable mention for the PRISM Award in the category of fan appreciation.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070613/VIRGINMOBILE
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Virgin Mobile USA

CONTACT: Corinne Nosal of Virgin Mobile USA, +1-908-607-4235,
Corinne.nosal@virginmobileusa.com; or Alicia Young of Ruder Finn,
+1-212-593-6343, younga@ruderfinn.com, for Virgin Mobile USA

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

McAfee, Inc. Reports 26 Percent Growth on Record Revenue of $397 MillionTenth Consecutive Quarter of Double-Digit Year-Over-Year Revenue GrowthAnnounces Agreement to Acquire Reconnex, Expanding Data Protection Capabilities

SANTA CLARA, Calif., July 31 /PRNewswire-FirstCall/ -- McAfee, Inc. today reported financial results for the second quarter ended June 30, 2008.

"We are very pleased with our strong execution in the second quarter across all geographies and target markets, further validating that our strategic approach is on the right track," said Dave DeWalt, McAfee's chief executive officer and president. "We believe that continued commitment to driving McAfee's three primary initiatives -- extending leadership in endpoint security; interlocking security for the endpoint, network and risk and compliance; and securing emerging platforms including virtual environments and the Web -- will position the company for continued industry leadership and solid performance in the second half of this year."

"With our pending acquisition of Reconnex, McAfee expects to redefine the entire data protection market by bringing together a leader in an emerging segment with our comprehensive portfolio of data protection technologies. We expect that Reconnex's unique ability to learn and automate ongoing data protection will enable us to leapfrog other data protection vendors, reinforcing McAfee's leadership position in security," continued DeWalt.

Second Quarter Financial Highlights and Operational Metrics: $ in Millions, except per share and % data Q2 2008 Q2 2007 % Change Total Net Revenue $396.8 $314.8 26% GAAP Operating Income $54.4 $38.8 40% GAAP Net Income $47.8 $48.0 0% GAAP Net Income Per Share (Diluted) $0.30 $0.29 1% Non-GAAP Operating Income* $101.8 $74.0 38% Non-GAAP Net Income* $83.8 $67.8 24% Non-GAAP Net Income Per Share* (Diluted) $0.52 $0.41 25% Deferred Revenue $1,085.8 $907.8 20% Cash & Marketable Securities $1,131.3 $1,413.8 (20)% * A complete reconciliation of GAAP to non-GAAP results is set forth in the attachment to this press release. Second Quarter 2008 Operating Summary: -- Revenue grew 26 percent compared with the same period last year, to $397 million in the second quarter of 2008 -- $397 million is record quarterly revenue for McAfee -- This is the tenth consecutive quarter of double-digit, year-over-year revenue growth -- Non-GAAP net income of $0.52 per share on a diluted basis is an all-time quarterly record for McAfee Corporate Business: -- Revenue grew 32 percent compared with the same period last year, to $240 million in the second quarter of 2008 -- $240 million is record quarterly revenue for McAfee's corporate business -- Growth during the quarter was driven by McAfee(R) Total Protection Endpoint for Mid-Market and Enterprise, Data Protection and McAfee's Network Security Platform, formerly known as Intrushield -- In the second quarter of 2008, McAfee closed 346 deals over $100,000, including 45 deals over $500,000 and 21 deals over $1 million. 21 deals over $1 million is a record for the company Consumer Business: -- Revenue grew 18 percent compared with the same period last year, to $157 million in the second quarter of 2008 -- The consumer business has grown double-digits year-over-year for 13 of the last 14 quarters -- In the second quarter of 2008, McAfee signed or extended 14 agreements and launched 68 new or enhanced online partnerships North America: -- Revenue grew 25 percent to $204 million in the second quarter of 2008, compared with $163 million in the second quarter of 2007 -- North American revenue accounted for 51 percent of total revenue for the second quarter of 2008 compared with 52 percent of total revenue for the second quarter of 2007 International: -- Revenue grew 27 percent to $193 million in the second quarter of 2008, compared with $152 million in the second quarter of 2007 -- McAfee had double-digit growth across all geographies in the second quarter of 2008 -- Compared with the second quarter of 2007, revenue from Europe, the Middle East and Africa grew by 28 percent, Asia Pacific grew by 31 percent, Latin America grew by 44 percent and Japan grew by 13 percent -- International revenue accounted for 49 percent of total revenue for the second quarter of 2008 compared with 48 percent of total revenue for the second quarter of 2007 Partnerships: Corporate: -- McAfee announced the McAfee Content Security Blade Server, based on Hewlett-Packard's (HP) market leading hardware. The blade server is included with McAfee Total Protection for Network Security, strengthening McAfee's leadership position in network security. McAfee also announced its membership in the HP BladeSystem Solution Builder Program. Together McAfee and HP will enable customers who manage high-volume network traffic to run their businesses more securely. -- Gemalto and McAfee announced a new integrated solution that enables PC and laptop users secure and convenient access to fully encrypted disks through strong, secure, hardware-based, two factor authentication -- McAfee announced participation in the VMWare Alliance Affiliate Initiative where channel partners are incented to sell McAfee security solutions with their virtualization engagements Consumer: -- McAfee announced a worldwide agreement with HP to provide a 60-day trial of pre-installed McAfee(R) Total Protection Software on HP commercial desktop computers and notebooks. The service, available immediately, is targeted at small business customers -- McAfee announced a new McAfee announced a new exclusive partnership with Toshiba to provide a 30-day free trial of McAfee(R) Internet Security Suite with SiteAdvisor(R) on Toshiba laptop computers destined for the consumer and small and medium-size business channels in Europe, the Middle East and Africa -- McAfee and Yahoo! announced a partnership to deliver a safer Web search experience through Yahoo! Search. The new SearchScan feature by Yahoo! Search provides always-on alerts to users for "risky" sites with security concerns such as spyware, adware and other malicious software that can infect and damage a user's PC -- McAfee announced two new services that combine the industry-leading technologies of McAfee SiteAdvisor and recently acquired ScanAlert. McAfee Secure Search Service, delivering one of the safest online search experiences for consumers, and McAfee SECURE(TM) for Web Sites, the most comprehensive security scanning and trust mark in the industry to date, will create a more secure Internet experience for millions of consumers Balance Sheet and Cash Flow Summary:

At June 30, 2008, the company reported cash and marketable securities of $1.131 billion, compared with $1.293 billion at the end of the first quarter of 2008. The change reflected the company's repurchase of approximately 7.1 million shares of its common stock for $256 million under the company's stock repurchase program. This outflow was partially offset by $80 million of operating cash flow and $33 million of proceeds from the exercise of stock options.

During the second quarter of 2008, the company generated approximately $80 million in cash flow from operations, compared with $85 million in the same quarter last year. This change includes a $22 million increased investment year-over-year in new partnerships we entered into in the first half of 2008. Days sales outstanding were 46 days, unchanged from the second quarter of 2007.

Deferred revenue was $1.086 billion at the end of the second quarter of 2008, a 20 percent increase over the June 30, 2007 balance and a record for McAfee. Approximately 80 percent of revenue during the second quarter of 2008 came from prior period deferred revenue.

Reconnex Acquisition:

McAfee today announced a definitive agreement to acquire privately owned Reconnex for $46 million in cash. Reconnex is a leading data loss prevention company with unique technology that learns and adapts to automate the ongoing protection of data. Reconnex's technology helps an organization protect all the information assets on its network without requiring upfront knowledge of what needs to be protected, regardless of how that information is stored, secured or communicated.

Reconnex's products align with McAfee's vision to provide a complete data protection and compliance solution to its customers, meeting the significant demand for adaptive data protection. With more than 60 million nodes managed by McAfee ePolicy Orchestrator(R) (ePO(TM)) today, McAfee can bring automated, centrally managed and adaptive protection to its existing customer base and further help users enhance the value of their current ePO investments.

The acquisition is expected to close in the third quarter of 2008. McAfee expects that following the closing, Reconnex's technologies will be included in McAfee's Data Protection product business unit. For additional information, please reference the acquisition landing page at http://www.mcafee.com/enddataanxiety.

Financial Outlook:

McAfee expects net revenue in the third quarter of 2008 of $390 million to $400 million.

The company expects third quarter 2008 GAAP net income of $0.27 to $0.32 per share and non-GAAP net income of $0.46 to $0.50 per share on a diluted basis.

McAfee expects net revenue for the full-year 2008 of $1.535 billion to $1.585 billion.

The company expects full-year 2008 GAAP net income of $1.12 to $1.22 per share and non-GAAP net income of $1.90 to $2.00 per share on a diluted basis.

This 2008 guidance reflects an assumed 29 percent GAAP tax rate and a 27 percent non-GAAP tax rate for the full-year 2008. In addition, guidance does not reflect the future impact of the company's stock repurchase program. Guidance also reflects our current expectations regarding the acquisition of Reconnex which assumes GAAP earnings per share dilution of approximately $0.05 and non-GAAP earnings per share dilution of approximately $0.03 for 2008. See the reconciliation of projected GAAP net income per share to projected non-GAAP net income per share attached to this press release.

Conference Call Information: -- The company will host a conference call today at 1:30 P.M. Pacific, 4:30 P.M. Eastern to discuss its quarterly results. Participants should call (800) 809-7467 (U.S. toll-free) or (706) 679-4671 (international). The passcode is 50872557. -- Attendees should dial in at least 15 minutes prior to the conference call -- A replay of the call will be available until August 14, by calling (800) 642-1687 (U.S. toll-free) or (706) 645-9291 (international) -- A Web cast of the call may also be found on the Internet through McAfee's Investor Relations Web site at http://investor.mcafee.com/ Disclosure Statements and Discussion of Non-GAAP Financial Measures:

Management evaluates and makes operating decisions using various performance measures. In addition to reporting financial results in accordance with GAAP, we also consider adjusted gross profit, operating income and net income, which we refer to as "non-GAAP gross profit," "non-GAAP operating income" and "non-GAAP net income." In calculating non-GAAP gross profit, non-GAAP operating income and non-GAAP net income, management excludes certain items to facilitate its review of the comparability of the company's operating performance on a period-to-period basis because such items are not, in management's review, related to the company's ongoing operating performance.

Non-GAAP gross profit excludes amortization of purchased technology and patents, non-cash stock-based compensation charges and stock-based compensation charges related to tender offer. Non-GAAP net income and non-GAAP operating income exclude amortization of purchased technology, patents and intangibles, non-cash stock-based compensation charges and stock-based compensation charges related to tender offer, acquisition related costs, loss on sale/disposal of assets and technology, restructuring (benefits) charges, SEC and compliance costs, legal settlement for a patent-related matter, impairment of marketable securities, provision for income taxes and certain other items. Management used a 27 percent non-GAAP effective tax rate to calculate non-GAAP net income in 2008 and 2007. Management believes that the 27 percent effective tax rate in each respective period is reflective of a long-term normalized tax rate under the global McAfee legal entity and tax structure as of the respective period end.

We present non-GAAP gross profit, non-GAAP operating income and non-GAAP net income because we consider each to be an important supplemental measure of our performance. Management uses these non-GAAP financial measures to make operational and investment decisions, to evaluate the company's performance, to forecast and to determine compensation. Further, management utilizes these performance measures for purposes of comparison with its business plan and individual operating budgets and allocation of resources. In addition, when evaluating potential acquisitions, management excludes the items described above from its consideration of target performance and valuation.

We further believe that these non-GAAP financial measures are useful to investors in providing greater transparency to the information used by management in its operational decision making. We believe that calculating non-GAAP gross profit, non-GAAP operating income and non-GAAP net income also facilitates a comparison of McAfee's underlying operating performance with that of other companies in our industry, which may from time to time use similar non-GAAP financial measures to supplement their GAAP results. However, non-GAAP gross profit, non-GAAP operating income and non-GAAP net income have limitations as analytical tools, and you should not consider these measures in isolation or as a substitute for GAAP gross profit, operating income and net income or any other performance measure determined in accordance with GAAP. In the future, we expect to continue to incur expenses similar to certain of the non-GAAP adjustments described above and exclusion of these items in the presentation of our non-GAAP financial measures should not be construed as an inference that all of these costs are unusual, infrequent or non-recurring. Investors and potential investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as analytical tools. Some of the limitations in relying on non-GAAP net income are:

-- Amortization of purchased technology, patents and intangibles, though not directly affecting our current cash position, represents the loss in value as the technology in our industry evolves, is advanced or is replaced over time. The expense associated with this loss in value is not included in the non-GAAP net income presentation and therefore does not reflect the full economic effect of the ongoing cost of maintaining our current technological position in our competitive industry which is addressed through our research and development program. -- The company regularly engages in acquisition and integration activities as part of its ongoing business. Therefore, we expect to continue to experience acquisition and retention bonuses, in-process research and development charges and integration costs related to acquisition activity in future periods. -- The company's income tax expense will ultimately be based on its GAAP taxable income and actual tax rates in effect, which may differ significantly from the 27 percent rate assumed in our non-GAAP financial measures for 2008 and 2007. -- Other companies, including companies in our industry, may calculate non-GAAP net income differently than we do, limiting its usefulness as a comparative tool.

In addition, many of the adjustments to our GAAP financial statements result in the exclusion of items that are recurring and will be reflected in the company's financial results for the foreseeable future. The company compensates for these limitations by providing specific information regarding the GAAP amounts excluded from the non-GAAP financial measures. The company further compensates for the limitations of our use of non-GAAP financial measures by presenting comparable GAAP measures more prominently. The company evaluates the non-GAAP financial measures together with the most directly comparable GAAP financial measure.

Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures contained within this press release with our GAAP gross profit, operating income and net income. For more information, see the consolidated statements of income and the "Reconciliation of GAAP to Non-GAAP Financial Measures" contained in this press release.

Forward-Looking Statements:

This release contains forward-looking statements, which include those regarding the preliminary results for the quarter ended June 30, 2008, guidance on expected operating results for the third quarter of 2008 and full year 2008, expectations regarding the pending acquisition of Reconnex, including those regarding its future plans for Reconnex's business, the expected closing date of the acquisition, expectations as to growth opportunities from the acquisition and expected plans for the integration of Reconnex's products, McAfee's positioning for continuing industry leadership and solid performance in the second half of 2008, business strategy, business momentum, market position, relationships and opportunities, McAfee's expectations regarding growth opportunities, the benefits of strategic relationships or partnerships, the benefits of McAfee's security solutions and the industry shift to security suites. Actual results could vary, perhaps materially, and the expected results may not occur. In particular, further risks may arise from governmental inquiries into our past stock option granting practices, including but not limited to, potential fines and penalties, and disruptions to our ongoing business and significant legal, litigation, accounting, tax and other expenses. In addition, actual results are subject to other risks, including that McAfee may not achieve its planned revenue realization rates, succeed in its efforts to grow its business or combat effectively the security threats of the future, build upon its technology leadership, leverage its relationships and opportunities to the degree expected, or capture market share, notwithstanding related commitment or related investment. The company may not benefit from its acquisitions, strategic alliances or partnerships as anticipated, customers may not respond as favorably as anticipated to the company's product or technical support offerings, the company's product and service offerings may not continue to interoperate effectively with newly developed operating systems, the company may experience delays in product development or the release of previously announced products, the company may experience delayed or lost bookings and revenue as a result of outages in integrated systems on which it is highly dependent, the company may not satisfactorily anticipate or meet its customers' needs or expectations, or the industry shift to security suites are not adopted to the extent anticipated. Actual results are also subject to a number of other factors, including customer and distributor demand fluctuations, currency fluctuations and macro and other economic conditions both in the United States and internationally. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in McAfee's filings with the SEC including its quarterly report on Form 10-Q for the period ended March 31, 2008. McAfee does not undertake to update any forward looking statements.

About McAfee, Inc.:

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

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

McAFEE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (Preliminary and unaudited) June 30, December 31, 2008 2007 Assets: Cash and marketable securities $1,131,327 $1,318,802 Restricted cash 573 571 Accounts receivable, net 201,692 231,527 Prepaid expenses, income taxes and other current assets 238,328 187,103 Property and equipment, net 97,721 94,670 Deferred taxes 565,783 577,530 Goodwill, intangibles and other long term assets, net 1,075,042 1,003,900 Total assets $3,310,466 $3,414,103 Liabilities: Accounts payable $38,946 $45,858 Accrued liabilities 365,573 330,166 Deferred revenue 1,085,838 1,044,513 Accrued taxes and other long term liabilities 87,032 88,241 Total liabilities 1,577,389 1,508,778 Stockholders' Equity: Common stock 1,787 1,732 Treasury stock (705,457) (303,270) Additional paid-in capital 1,953,809 1,810,290 Accumulated other comprehensive income 40,868 32,498 Retained earnings 442,070 364,075 Total stockholders' equity 1,733,077 1,905,325 Total liabilities and stockholders' equity $3,310,466 $3,414,103 McAFEE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share data) (Preliminary and unaudited) Three Months Ended Six Months Ended June 30, June 30, 2008 2007 2008 2007 Net revenue $396,758 $314,830 $766,399 $629,708 Cost of net revenue(1) 76,376 62,869 152,752 124,553 Amortization of purchased technology and patents 13,357 8,515 26,917 16,884 Gross profit 307,025 243,446 586,730 488,271 Operating costs: Research and development(1) 61,895 52,774 120,203 105,484 Marketing and sales(1) 128,720 94,908 246,795 187,804 General and administrative(1) 47,626 41,969 89,219 86,654 Amortization of intangibles 5,636 3,556 10,976 6,238 Legal settlement 9,000 - 9,000 - Acquisition related costs 1,635 2,410 3,327 4,660 SEC and compliance costs 266 9,148 1,642 14,200 Loss on sale/disposal of assets and technology 64 7 67 11 Restructuring (benefits) charges (2,214) (77) (2,143) 3,049 Total operating costs 252,628 204,695 479,086 408,100 Income from operations 54,397 38,751 107,644 80,171 Interest and other income, net 13,040 18,866 28,537 33,290 Impairment of marketable securities (2,570) - (2,570) - Income before provision for income taxes 64,867 57,617 133,611 113,461 Provision for income taxes 17,041 9,573 55,616 22,067 Net income $47,826 $48,044 $77,995 $91,394 Net income per share - basic $0.30 $0.30 $0.49 $0.57 Net income per share - diluted $0.30 $0.29 $0.48 $0.56 Shares used in per share calculation - basic 158,770 159,800 159,882 159,799 Shares used in per share calculation - diluted 161,553 163,814 163,367 163,487 (1) The Company accounts for stock compensation expense under SFAS 123R, "Share-Based Payment", which requires stock compensation expense to be recognized based on grant date fair value. Cash and non-cash stock-based compensation charges are included as follows: Cost of net revenue $1,026 $740 $1,470 $1,955 Research and development 4,445 3,293 8,066 8,265 Marketing and sales 9,115 4,812 12,863 13,325 General and administrative 5,090 2,904 9,153 9,142 $19,676 $11,749 $31,552 $32,687 McAFEE, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands, except per share data) (Preliminary and unaudited) Three Months Ended Six Months Ended June 30, June 30, 2008 2007 2008 2007 Net revenue: GAAP net revenue $396,758 $314,830 $766,399 $629,708 Gross profit: GAAP gross profit $307,025 $243,446 $586,730 $488,271 Non-cash stock-based compensation charges and stock-based compensation charges related to tender offer (A) 1,026 659 1,491 1,870 Amortization of purchased technology and patents (B) 13,357 8,515 26,917 16,884 Non-GAAP gross profit $321,408 $252,620 $615,138 $507,025 Operating income: GAAP operating income $54,397 $38,751 $107,644 $80,171 Non-cash stock-based compensation charges and stock-based compensation charges related to tender offer (A) 19,676 9,790 31,934 30,497 Amortization of purchased technology and patents (B) 13,357 8,515 26,917 16,884 Amortization of intangibles(B) 5,636 3,556 10,976 6,238 Legal settlement (C) 9,000 - 9,000 - Acquisition related costs (D) 1,635 2,410 3,327 4,660 SEC and compliance costs (E) 266 9,148 1,642 14,200 Loss on sale/disposal of assets and technology (F) 64 7 67 11 Restructuring (benefits) charges (G) (2,214) (77) (2,143) 3,049 Change in fair value of stock-based liability awards (H) - 1,915 (5,483) 1,915 Non-GAAP operating income $101,817 $74,015 $183,881 $157,625 Net income: GAAP net income $47,826 $48,044 $77,995 $91,394 Non-cash stock-based compensation charges and stock- based compensation charges related to tender offer (A) 19,676 9,790 31,934 30,497 Amortization of purchased technology and patents (B) 13,357 8,515 26,917 16,884 Amortization of intangibles(B) 5,636 3,556 10,976 6,238 Legal settlement (C) 9,000 - 9,000 - Acquisition related costs (D) 1,635 2,410 3,327 4,660 SEC and compliance costs (E) 266 9,148 1,642 14,200 Loss on sale/disposal of assets and technology (F) 64 7 67 11 Restructuring (benefits) charges (G) (2,214) (77) (2,143) 3,049 Change in fair value of stock-based liability awards (H) - 1,915 (5,483) 1,915 Impairment of marketable securities (I) 2,570 - 2,570 - Provision for income taxes (J) 17,041 9,573 55,616 22,067 Non-GAAP income before provision for income taxes 114,857 92,881 212,418 190,915 Non-GAAP provision for income taxes (K) 31,011 25,078 57,353 51,547 Non-GAAP net income $83,846 $67,803 $155,065 $139,368 Net income per share - diluted: * GAAP net income per share - diluted $0.30 $0.29 $0.48 $0.56 Non-cash stock-based compensation charges and stock- based compensation charges related to tender offer adjustment per share (A) 0.12 0.06 0.20 0.19 Other adjustments per share (B)-(K) 0.10 0.06 0.28 0.11 Non-GAAP net income per share - diluted $0.52 $0.41 $0.95 $0.85 Shares used to compute Non-GAAP net income per share - diluted 161,553 163,814 163,367 163,487 * Non-GAAP net income per share is computed independently for each period presented. The sum of GAAP net income per share and non-GAAP adjustments may not equal non-GAAP net income per share due to rounding differences. This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations of these measures, see items (A) through (K). McAFEE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, except per share data) (Preliminary and unaudited) Three Months Ended Six Months Ended June 30, June 30, 2008 2007 2008 2007 Cash flows from operating activities: Net income $47,826 $48,044 $77,995 $91,394 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 28,723 20,368 57,212 40,646 Impairment of marketable securities 2,570 - 2,570 - Provision for (recovery of) doubtful accounts, net 35 160 337 (124) Non-cash restructuring (benefits) charges (2,495) (79) (2,776) 1,286 Discount amortization on marketable securities (46) (1,207) (1,136) (2,638) Loss on sale of assets and technology 64 7 67 11 Gain on sale of investments (2,789) (151) (5,251) (260) Deferred income taxes (16,007) (3,493) 18,580 3,175 (Decrease) increase in fair value of options accounted for as liabilities - 1,915 (5,483) 1,915 Non-cash stock-based compensation expense 19,676 9,790 31,333 30,497 Excess tax benefits from stock-based compensation (2,944) - (12,464) (12) Changes in assets and liabilities, net of acquisitions: Accounts receivable (20,768) (14,359) 37,860 10,090 Prepaid expenses, prepaid taxes and other assets (7,077) (2,615) (31,207) (5,405) Accounts payable (2,295) 228 (10,036) 1,330 Accrued taxes and other liabilities 25,342 15,820 (7,518) 9,552 Deferred revenue 9,813 10,892 919 5,644 Net cash provided by operating activities 79,628 85,320 151,002 187,101 Cash flows from investing activities: Purchase of marketable securities (53,270) (179,227) (231,322) (346,873) Proceeds from sales of marketable securities 247,256 61,475 378,367 111,513 Proceeds from maturities of marketable securities 110,393 112,377 245,197 217,401 Acquisitions, net of cash acquired - - (55,041) - Decrease (increase) in restricted cash 10 41 (2) 393 Purchase of patents - (9,300) - (9,300) Purchase of property, equipment and leasehold improvements (10,508) (8,700) (21,001) (18,850) Proceeds from the sale of assets and technology - - - 4,105 Net cash provided by (used in) investing activities 293,881 (23,334) 316,198 (41,611) Cash flows from financing activities: Proceeds from issuance of common stock from option plans 33,367 - 87,044 - Excess tax benefits from stock- based compensation 2,944 - 12,464 12 Repurchase of common stock (255,721) - (382,896) (196) Net cash used in financing activities (219,410) - (283,388) (184) Effect of exchange rate fluctuations on cash (5,785) 3,719 24,656 7,651 Net increase in cash and cash equivalents 148,314 65,705 208,468 152,957 Cash and cash equivalents at beginning of period 454,312 476,879 394,158 389,627 Cash and cash equivalents at end of period $602,626 $542,584 $602,626 $542,584

Items (A) through (K) on the "Reconciliation of GAAP to Non-GAAP Financial Measures" table are listed to the right of certain categories under "Gross profit," "Operating income," "Net income" and "Net income per share - diluted" correspond to the categories explained in further detail below under paragraphs (A) through (K).

While we currently do not believe a non-GAAP net revenue metric is meaningful, GAAP net revenue has been provided to enable an understanding of the relationships between GAAP net revenue and the GAAP and non-GAAP financial measures included in the table above. As an example, this facilitates non- GAAP expense to revenue analysis. The non-GAAP financial measures are non- GAAP gross profit, non-GAAP operating income, non-GAAP net income and non-GAAP net income per share - diluted, which adjust for the following items: non-cash stock-based compensation charges and stock-based compensation charges related to tender offer, amortization of purchased technology, patents and intangibles, acquisition related costs, SEC and compliance costs, loss on sale/disposal of assets and technology, restructuring (benefits) charges, change in fair value of stock-based liability awards, impairment of marketable securities, income taxes and certain other items. We believe that the presentation of these non-GAAP financial measures is useful to investors, and such measures are used by our management, for the reasons associated with each of the adjusting items as described below:

(A) Non-cash stock-based compensation charges and stock-based compensation charges related to tender offer consist of non-cash charges relating to stock-based awards issued to employees and outside directors including stock options, restricted stock awards and units, restricted stock units with performance-based vesting and out Employee Stock Purchase Plan determined in accordance with SFAS 123R. Because of varying available valuation methodologies, subjective assumptions and the variety of award types, the Company believes that the exclusion of non-cash stock-based compensation allows for more accurate comparisons of our operating results to our peer companies, and for a more accurate comparison of our financial results to previous periods. In addition, the Company believes it is useful to investors to understand the specific impact of the application of SFAS 123R on our operating results. The amount in 2008 also includes stock-based compensation charges related to the tender offer. (B) Amortization of purchased technology, patents, and intangibles are non-cash charges that can be impacted by the timing and magnitude of our acquisitions. The Company considers its operating results without these charges when evaluating its ongoing performance and/or predicting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures. The Company believes the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of other companies in its industry. (C) Legal settlement is a settlement related to a patent legal matter. The Company's management excludes this charge when evaluating its ongoing performance and/or predicting its earnings trends, and therefore excludes this amount when presenting non-GAAP financial measures. (D) Acquisition related costs vary significantly in size and amount and are disregarded by the Company's management when evaluating and predicting earnings trends because these charges are unique to specific acquisitions, and are therefore excluded by the Company when presenting non-GAAP financial measures. (E) SEC and compliance costs are charges related to discrete and unusual events where the Company has incurred significant compliance costs and which, in the Company's view, are not incurred in the ordinary course of operations. Recent examples of such charges include costs related to the special committee investigation into the Company's past stock option granting practices. The Company's management excludes these costs when evaluating its ongoing performance and/or predicting its earnings trends, and therefore excludes these charges when presenting non-GAAP financial measures. Further, the Company believes it is useful to investors to understand the specific impact of these charges on its operating results. (F) Loss on sale/disposal of assets and technology relate to the sale or disposal of assets of the Company. These gains or losses can vary significantly in size and amount. The Company's management excludes these gains or losses when evaluating its ongoing performance and/or predicting its earnings trends, and therefore excludes these items when presenting non-GAAP financial measures. In addition, in periods where the Company realizes gains or incurs losses on the sale of assets and/or technology, the Company believes it is useful to investors to highlight the specific impact of these charges on its operating results. (G) Restructuring (benefits) charges include excess facility and asset- related restructuring charges and severance costs resulting from reductions of personnel driven by modifications to the Company's business strategy, such as acquisitions or divestitures. These costs may vary in size based on the Company's restructuring plan. In addition, the Company's assumptions are continually evaluated, which may increase or reduce the charges in a specific period. The Company's management excludes these costs when evaluating its ongoing performance and/or predicting its earnings trends, and therefore excludes these charges when presenting non-GAAP financial measures. (H) Change in fair value of stock-based liability awards constitutes the expense or benefit associated with the change in fair value of stock- based liability awards at the end of the each reporting period. The Company's management excludes these (benefits) costs when evaluating its ongoing performance and/or predicting its earnings trends, and therefore excludes these amounts when presenting non-GAAP financial measures. (I) Impairment of marketable securities constitutes the "other than temporary" decline in the fair value of the Company's available-for- sale securities. The Company's management excludes this loss when evaluating its ongoing performance and/or predicting its earnings trends, and therefore excludes this loss when presenting non-GAAP financial measures. (J) Provision for income taxes is our GAAP provision that must be added back to GAAP net income to reconcile to non-GAAP income before taxes. (K) Non-GAAP provision for income taxes reflects a 27% non-GAAP effective tax rate used by the Company's management to calculate non-GAAP net income. Management believes that the 27% effective tax rate in each respective period is reflective of a long-term normalized tax rate under the global McAfee legal entity and tax structure as of the respective period end. McAFEE, INC. AND SUBSIDIARIES PROJECTED GAAP REVENUE AND RECONCILIATION OF PROJECTED GAAP NET INCOME PER SHARE TO PROJECTED NON-GAAP NET INCOME PER SHARE (Preliminary and unaudited) Q3 FY'08 FY'08 Projected GAAP revenue range $390M - $400M $1,535M - $1,585M Projected net income per share reconciliation: Projected GAAP net income per share range - diluted $0.27 - $0.32 $1.12 - $1.22 Add back: Projected non-cash stock-based compensation adjustment per share, net of tax (1) $0.11 - $0.15 $0.41 - $0.51 Projected other adjustments per share, net of tax (2) $0.03 - $0.07 $0.27 - $0.37 Projected non-GAAP net income per share range - diluted* $0.46 - $0.50 $1.90 - $2.00 * We believe that providing a forecast of the non-GAAP items set forth above is useful to investors, and such items are used by our management, for the reasons associated with each of the adjusting items as described below. (1) Non-cash stock-based compensation charges consist of non-cash charges relating to stock-based awards issued to employees and outside directors including stock options, restricted stock awards and units, restricted stock units with performance-based vesting and our Employee Stock Purchase Plan determined in accordance with SFAS 123R. Because of varying available valuation methodologies, subjective assumptions and the variety of award types, the Company believes that the exclusion of non-cash stock-based compensation allows for more accurate comparisons of our operating results to our peer companies, and for a more accurate comparison of our financial results to previous periods. In addition, the Company believes it is useful to investors to understand the specific impact of the application of SFAS 123R on our operating results. (2) Other adjustments include amortization of purchased technology, patents, and intangibles, SEC and compliance costs, restructuring charges, acquisition related costs, loss/gain on sale/disposal of assets and technology, income taxes and certain other items. We exclude these items because we believe they are not directly related to the operation of our business. A more detailed explanation of the reasons why we exclude these categories from our GAAP net income is contained in paragraphs (B) through (K) above under the table entitled "Reconciliation of GAAP to Non-GAAP Financial Measures." McAFEE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED REVENUE BY PRODUCT GROUPS (in thousands) (Preliminary and unaudited) Three Months Ended Three Months Ended Three Months Ended June 30, 2008 March 31, 2008 December 31, 2007 McAfee Corporate $239,998 60% $216,411 59% $215,295 60% McAfee Consumer 156,760 40% 153,230 41% 141,231 40% Total McAfee $396,758 100% $369,641 100% $356,526 100% Three Months Ended Three Months Ended September 30, 2007 June 30, 2007 McAfee Corporate $185,690 58% $182,400 58% McAfee Consumer 136,296 42% 132,430 42% Total McAfee $321,986 100% $314,830 100%

McAfee, Inc.

CONTACT: Investors, Kelsey Doherty, +1-917-842-0334,
kelsey_doherty@mcafee.com, or Media, Tracy Ross, +1-650-245-8466,
tracy_ross@mcafee.com, both of McAfee, Inc.

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

Indiana Literacy Association Receives $19,600 Grant From Verizon's 'Check into Literacy' ProgramAssociation Seeks Proposals From Indiana Volunteer Literacy Groups to Fund Adult Literacy Initiatives, Expand Existing Programs

FORT WAYNE, Ind., July 31 /PRNewswire/ -- Thanks to Verizon telephone customers in Indiana who participated in the company's innovative Check Into Literacy program, the Indiana Literacy Association has received a $19,600 Verizon grant to help support adult literacy programs operated by volunteer literacy organizations across the state.

The Literacy Association will offer grants of up to $1,000 for existing literacy initiatives and up to $2,500 for startup programs at new locations. The association is accepting, applications through Sept. 15, 2008, from volunteer literacy organizations. Proposals must demonstrate how the organization is addressing the needs of adults with the lowest levels of literacy in the state.

"Literacy opens the door for individuals to broaden their horizons, to enhance their education and to reach their full potential," said Jane Kuemmerle, board chair of the Indiana Literacy Association. "Verizon's grant will help us to strengthen volunteer literacy organizations across the state that work tirelessly to give adults the tools and training they need to improve their literacy skills, achieve their goals and contribute to their communities."

An organization submitting a proposal for consideration must:

-- Seek support for a volunteer program or have volunteers engaged in adult literacy or adult tutoring in English as a second language.

-- Complete a grant application and provide both interim and final reports.

-- Describe its current program, the problem being addressed and the budget involved.

Interested organizations can check the association's Web site, http://www.indianaliteracy.org/, for application information. Applicants must be nonprofit volunteer literacy organizations in Indiana. The association will evaluate all submissions against the established criteria and award the grants in October.

Verizon's Check Into Literacy program allows its landline telephone customers to support literacy by checking a box on their monthly phone bills to make a $1 tax-deductible donation to promote literacy throughout the United States. Verizon then distributes these donations to local literacy organizations that serve the state the customers live in.

"A dollar a month may not seem like much, but it can go a long way to improving literacy skills in local communities and giving people the opportunity to succeed," said Gale Y. Given, president of Verizon's Great Lakes region. "Verizon customers who participate in this program show how much they care about our communities through their donations, and we applaud them for it. This grant shows how these contributions are being put into action right here in Indiana."

The Verizon Foundation, the philanthropic arm of Verizon Communications, supports the advancement of literacy and K-12 education through its signature program, Thinkfinity.org, and fosters awareness and prevention of domestic violence. In 2007, the foundation awarded more than $67.4 million in grants to nonprofit agencies in the United States and abroad. The foundation also matched the charitable donations of Verizon employees and retirees, resulting in $25.1 million in combined contributions. Through Verizon Volunteers, one of the nation's largest employee volunteer programs, Verizon employees and retirees have volunteered more than 3 million hours of community service since Verizon's inception in 2000.

For more information on the foundation, visit http://www.verizon.com/foundation.

The Indiana Literacy Association began as the initiative of a group of literacy program directors and advocates with a special interest in advancing the cause of literacy in Indiana. The first meeting of the group was held in March 2005. Recognizing that a statewide organization could provide networking, additional training and support, and greater visibility for volunteer programs and their tutors, it was decided to articulate a mission and move forward with plans to organize as the Indiana Literacy Association. It was incorporated in September 2005 as a nonprofit, membership organization to benefit literacy in Indiana.

Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.

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

Verizon

CONTACT: Judy Stabelli of Indiana Literacy Association, +1-260-426-7323,
judith.stabelli@fwliteracyalliance.org; or Lee Gierczynski, Verizon,
+1-412-633-5574, lee.j.gierczynski@verizon.com

Web site: http://www.verizon.com/
http://www.indianaliteracy.org/
http://www.verizon.com/foundation
http://thinkfinity.org/

Company News On-Call: http://www.prnewswire.com/comp/094251.html

Windsor Health Plan Selects Perot Systems for Xcelys(TM) 5.0 Payer Management PlatformHealth Insurer to Improve Flexibility and Operational Efficiencies with Remotely Hosted System

PLANO, Texas, July 31 /PRNewswire-FirstCall/ -- Windsor Health Plan, Inc. and Perot Systems Corporation today announced an agreement in which Perot Systems will remotely host the Tennessee-based insurer's enterprise core administrative system (CAS). The system will be converted from the DIAMOND(R) 725 software to Perot Systems' recently released Xcelys 5.0 software, and in the process Windsor will consolidate onto a single platform, allowing the elimination of several ancillary systems. Specific terms of the five-year deal were not disclosed.

"With this conversion to Perot Systems' Xcelys 5.0 platform we will achieve new levels of product flexibility and operational efficiencies," stated Michael Bailey, CEO of Windsor Health Plan, Inc. "The Xcelys customer service module will also enable our team in Nashville to provide better customer service to all of our members. We are looking forward to continuing our work with Perot Systems."

"With the Xcelys 5.0 remote hosting solution, we expect that Windsor will be able to more effectively serve its members, and with the continuation of the business process services, they will experience improved processing efficiency in key operational areas as well as additional functionality and configuration flexibility," said Chuck Lyles, president of Perot Systems' Healthcare industry group. "Perot Systems is proud to say that Windsor has been a client since 2002, and this conversion is another step in the process of continuing to build the trusted relationship that is the goal with all of our clients."

About Windsor Health Plan

Windsor Health Plan is wholly owned by Windsor Health Group Inc., a Nashville, Tennessee based managed healthcare company operating fully certified, licensed and contracted government sponsored health plans through the Centers for Medicare & Medicaid Services (CMS). Windsor Health Plan offers 11 different plans including Windsor Rx, Windsor Medicare Extra and Windsor Medicare Extra Special Care Plans in 96 counties in Tennessee, Alabama, Mississippi, Arkansas and South Carolina. Windsor also provides specialty managed care services to both the insurance and healthcare provider communities. For more information please visit http://www.windsorextra.com/.

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 the Americas, Europe, Middle East and Asia

Pacific. 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.

Perot Systems Corporation

CONTACT: Jonathan Moss, +1-972-577-6395, jonathan.moss@ps.net, or Joe
McNamara, +1-972-577-6165, Joe.mcnamara@ps.net, both of Perot Systems
Corporation

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

TV Choice and Competition Near for Residents of the Village of Amityville and Town of Kent, N.Y.Communities Approve Video Franchises for Verizon

NEW YORK, July 31 /PRNewswire/ -- Residents of the Long Island village of Amityville and the Putnam County town of Kent are a major step closer to having a real choice for their cable television service, thanks to newly approved agreements authorizing Verizon to offer its FiOS TV service, delivered over the most advanced fiber-optic network straight to customers' homes.

The Amityville Village Board and the Kent Town Board recently granted video franchises to Verizon, paving the way for video choice in these communities.

The new franchises bring to 126 the total number of New York municipalities that have approved video franchises for Verizon.

"This is great news for residents of Amityville and Kent, who now will have a new choice for their video entertainment," said Andres Irlando, Verizon senior vice president for New York and Connecticut.

"Consumers in these communities will be able to choose their cable provider as easily as they choose their phone company. Competition like this drives innovation and value and puts the consumer in control, and we will continue to compete aggressively for business in these areas," he said.

As with all local franchise approvals in New York, the agreements between Verizon and Amityville and Kent are subject to review by the New York State Public Service Commission.

Verizon's FiOS TV is a formidable competitor to cable and satellite, offering a broad collection of all-digital programming, up to 100 high-definition (HD) channels in the New York market and access to more than 10,000 on-demand titles, 70 percent of which are free.

Verizon's fiber network delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen. In addition to FiOS TV, Verizon's fiber network also delivers Internet download speeds of up to 50 Mbps (megabits per second) and upload speeds of up to 20 Mbps, as well as high-quality voice service.*

Amityville and Kent join a growing list of New York communities that are paving the way for competition and choice in the television market. In addition to these two, Verizon has been granted video franchises in the following municipalities:

City of New York Long Island

Massapequa Park, Cedarhurst, Laurel Hollow, Lynbrook, Mineola, East Hills, East Rockaway, Farmingdale, Valley Stream, Freeport, Williston Park, New Hyde Park, Sands Point, Bayville, Old Field, Floral Park, South Floral Park, Garden City, Nissequogue, Northport, Poquott, East Williston, Head of the Harbor, Mill Neck, Stewart Manor, Centre Island, Lawrence, Malverne, Manorhaven, Huntington Bay, The Branch, Oyster Bay Cove, Flower Hill, Great Neck, Great Neck Estates, Great Neck Plaza, Kensington, Kings Point, Lake Success, Munsey Park, North Hills, Plandome, Plandome Heights, Plandome Manor, Rockville Centre, Roslyn, Roslyn Estates, Roslyn Harbor, Russell Gardens, Saddle Rock, Thomaston, Bellerose, Lloyd Harbor and Baxter Estates; and the towns of North Hempstead, Huntington, Smithtown, Hempstead, Oyster Bay, Islip and Babylon.

Rockland County

Nyack, South Nyack, Upper Nyack, Grandview-on-Hudson, Clarkstown, Orangetown, Piermont, Airmont, the Town of Haverstraw, West Haverstraw, Chestnut Ridge, Ramapo, Spring Valley, Stony Point, the Village of Haverstraw, Suffern, Hillburn, Wesley Hills and Montebello.

Dutchess County Wappinger and Wappingers Falls Orange County Town of Newburgh Erie County

Amherst, Blasdell, Village of Hamburg, Town of Hamburg, West Seneca, Tonawanda, Village of Orchard Park and Town of Orchard Park.

Westchester County

Ardsley, Dobbs Ferry, Tarrytown, Irvington, Greenburgh, Eastchester, Mount Kisco, Elmsford, Port Chester, Tuckahoe, White Plains, Rye Brook, North Castle, Mount Vernon, Mount Pleasant, Yonkers, Scarsdale, Bronxville, New Rochelle, Cortlandt, Peekskill, Buchanan, Rye, Larchmont, the Village of Mamaroneck, the Town of Mamaroneck, New Castle, Pelham Manor, Sleepy Hollow, Briarcliff Manor, the Town of Ossining and the Village of Ossining.

* NOTE: actual (throughput) speeds will vary.

Verizon Communications Inc. , headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving nearly 69 million customers nationwide. Verizon's Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation's most advanced fiber-optic network. A Dow 30 company, Verizon employs a diverse workforce of more than 228,600 and last year generated consolidated operating revenues of $93.5 billion. For more information, visit http://www.verizon.com/.

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

Verizon

CONTACT: John Bonomo of Verizon, +1-212-321-8033,
john.j.bonomo@verizon.com

Web Site: http://www.verizon.com/
http://www.verizon.com/news

Company News On-Call: http://www.prnewswire.com/comp/094251.html

Save Tax Dollars - and Gas - by Visiting One of More Than 6,000 Convenient Neighborhood RadioShack Stores or Shopping Online at RadioShack.com

FORT WORTH, Texas, July 31 /PRNewswire-FirstCall/ -- According to the National Retail Federation, the average family is expected to spend almost $600 on back-to-school purchases this year. To help ease the burden, several states -- including Alabama, Georgia, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia -- are offering back-to-school tax free holidays as a way for people to save money on the purchase of various types of school related items, including certain electronic devices. However, it's somewhat self defeating if it takes a gallon or two of $4 gas for a customer to drive several miles to an outlying or remote retail destination to realize those tax savings.

Instead, RadioShack offers two solutions for residents of these 10 states to save both at the cash register and the gas pump:

-- Shop at a nearby neighborhood RadioShack store, usually just minutes from where most people live or work, or -- Shop online at http://www.radioshack.com/

RadioShack invites news outlets to use their own neighborhood RadioShack store as a backdrop for tax-free and back-to-school shopping stories. RadioShack's renowned knowledgeable sales associates can discuss the electronics that qualify for tax-free purchases as well as what's hot with the back-to-school crowd. To locate the nearest store that is best for your needs, call or e-mail RadioShack media relations at 817-415-3300 or media.relations@radioshack.com.

Specific state-by-state tax free details, including what does and doesn't qualify under each state's regulations, are available by visiting http://www.taxadmin.org/fta/rate/sales_holiday.html. States participating in tax-free events that include certain consumer electronics merchandise include Alabama, District of Columbia, Georgia, Louisiana, Missouri, New Mexico, North Carolina, South Carolina, Tennessee and Virginia.

About RadioShack Corporation

RadioShack Corporation is one of the nation's most experienced and trusted consumer electronics specialty retailers. Operating from convenient and comfortable neighborhood and mall locations, RadioShack stores deliver personalized product and service solutions within a few short minutes of where most Americans either live or work. The company has a presence through almost 6,000 company-operated stores and dealer outlets in the United States and nearly 800 wireless phone kiosks. RadioShack's dedicated force of knowledgeable and helpful sales associates has been consistently recognized by several independent groups as providing the best customer service in the consumer electronics and wireless industries. For more information on RadioShack Corporation, or to purchase items online, visit http://www.radioshack.com/.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000518/DATH047LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com RadioShack Corporation

CONTACT: Charles Hodges or Wendy Dominguez, both of RadioShack
Corporation, +1-817-415-3300, Media.Relations@RadioShack.com

Web site: http://www.radioshackcorporation.com/
http://www.radioshack.com/

Buzztime Introduces Three New Games to Their Interactive ScheduleNow Available at Buzztime Bars and Restaurants Nationwide

CARLSBAD, Calif., July 31 /PRNewswire-FirstCall/ -- NTN Buzztime, Inc. , an out-of-home interactive entertainment company, today announced the introduction of three new premium games to its robust selection of trivia, sports games and other out-of-home entertainment options that players enjoy in restaurants and bars across the country.

Beginning today, three new premium games will be available in operator locations as part of Buzztime(TM)'s network upgrade. The three additions, each of which will be formatted with Buzztime's new 15-minute game time model, include:

Ask It Already! -- the all new multiple-choice game where the sequence is flip-flopped and answers come first.

Immortal Words -- a game about famous quotes from movies, TV, books, philosophers, authors, poets, comedians and more.

Lexitopia -- brought to you by Dictionary.com, Lexitopia is a challenging multiple-choice word and definition game.

"Buzztime players spend more time and more money at operator locations where they're engaged in interactive Buzztime games -- and adding new games broadens consumer interest and participation levels even further," said Buzztime's Executive Vice President of Content and Marketing, Jake Tauber. "Our operator locations benefit by having players sample more games and more of the menu while they're at it."

Adding more games and quicker play means more rewards and more interactive fun for Buzztime players, who seek out operator locations when they choose where they spend time when they're not at home.

The three new games will be inserted into Buzztime's schedule as follows: -- Lexitopia -- premieres August 6th o First Run -- Wednesdays at 5:45pm PT/8:45pm ET o Encore -- Thursdays at Noon Local -- Immortal Words -- premieres July 31st o First Run -- Thursdays at 6:45pm PT/9:45pm ET o Encore -- Fridays at 12:30pm Local o Encore -- Fridays at 5:30pm PT/8:30pm ET -- Ask It Already! -- premieres August 5th o First Run -- Tuesdays at 5pm PT/8pm ET o Encore -- Wednesdays at 12:30pm Local o Encore -- Thursdays at 5:30pm PT/8:30pm ET About NTN Buzztime, Inc.

NTN Buzztime, Inc., a leader in interactive entertainment for more than 20 years, is based in Carlsbad, CA. Buzztime is distributed in-home and out-of- home across broadband platforms including online, cable TV, satellite TV and in approximately 3,800 restaurants, sports bars and pubs throughout North America. Buzztime entertainment is also available on electronic games and in books. For more information, please visit http://www.buzztime.com/. Buzztime is a registered trademark of Buzztime Entertainment.

Buzztime is a proud member of the OVAB |Out-of-home Video Advertising Bureau.

Forward-looking Statements

This release contains forward-looking statements which reflect management's current views of future events and operations including but not limited to trends in player preferences and engagement. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include the risk of changing economic conditions, failure of product demand or market acceptance of both existing and new products and services and the impact of competitive products and pricing. Please see NTN Buzztime, Inc.'s recent filings with the Securities and Exchange Commission for information about these and other risks that may affect the Company. All forward-looking statements included in this release are based on information available to us on the date hereof. These statements speak only as of the date hereof, and NTN Buzztime, Inc. does not undertake to publicly update or revise any of its forward-looking statements, even if experience or future changes show that the indicated results or events will not be realized.

NTN Buzztime, Inc.

CONTACT: October Strategies, +1-303-471-4511, or +1-303-346-5527,
larae@octoberstrategies.com, or joanne@octoberstrategies.com, for NTN
Buzztime, Inc.

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

General Dynamics Awarded $16 Million for RG-31 MRAP Spare Parts

LONDON, Ontario, July 31 /PRNewswire-FirstCall/ -- The U.S. Army TACOM Life Cycle Management Command has awarded General Dynamics Land Systems-Canada a $15.8 million contract for spare parts in support of RG-31 Mk5E vehicles under the Mine Resistant Ambush Protected (MRAP) program. General Dynamics Land Systems, the Canadian company's parent corporation, is a business unit of General Dynamics .

On July 17, General Dynamics Land Systems-Canada was awarded a delivery order for 773 RG-31 Mk5E vehicles for the MRAP program. In total 1,397 General Dynamics RG-31 vehicles have been ordered under the MRAP program.

Both contracts were signed through the Canadian Commercial Corporation, a Crown Agency of the Canadian Government.

General Dynamics Land Systems-Canada, located in London, Ontario, Canada is a business unit of General Dynamics Land Systems of Sterling Heights, Michigan. For over 30 years, more than 1,800 highly skilled technical employees have designed, manufactured, delivered and supported to global customers a unique family of light armoured vehicles (LAV). More information on the company is available at http://www.gdlscanada.com/.

General Dynamics, headquartered in Falls Church, Va., employs approximately 84,600 people worldwide and anticipates 2008 revenues of approximately $29.5 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at http://www.generaldynamics.com/.

General Dynamics Land Systems-Canada

CONTACT: Ken Yamashita of General Dynamics Land Systems-Canada,
+1-519-964-5813, Fax, +1-519-964-5488, yamashik@gdls.com

Web site: http://www.gdlscanada.com/
http://www.generaldynamics.com/

CGI to Present at 2008 RBC Capital Markets Technology, Media and Communications Conference August 6 in San FranciscoStock Market Symbols GIB.A (TSX) GIB (NYSE)

MONTREAL, July 31 /PRNewswire-FirstCall/ -- Donna Morea, President, US Operations and India, CGI (TSX: GIB.A; NYSE: GIB) will present to investors at the 2008 RBC Capital Markets Technology, Media and Communications Conference at The Four Seasons Hotel, in San Francisco, Wednesday, August 6, 2008.

The presentation is scheduled for 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time), and will be available via live audio webcast on CGI's website at http://www.cgi.com/web/en/investors.htm. A replay of the webcast will be archived on CGI's website in the Investors section under Speeches and Webcasts.

About CGI

Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 27,000 professionals in over 100 offices across 16 countries. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at June 30th, 2008, CGI's order backlog was $12.03 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com/.

CGI GROUP INC.

CONTACT: Lorne Gorber, Vice-President, Global Communications and
Investor Relations, (514) 841-3355

Consumers View More Pages Year-Over-Year on REALTOR.com(R) and Move.comVisitors Drill Deeper Into Move Network, Indicating They Like What They See and Want More

LOS ANGELES, July 31 /PRNewswire-FirstCall/ -- Consumers searching online for real estate appear to like what they see and want more from Realtor.com, the #1 homes-for-sale Web site, and Move.com, according to June comScore data.[1] In fact, year over year page views for Realtor.com increased by 16 percent and they increased by four percent for the Move Network, which also captured 30 percent more traffic in June than any competitor in the real estate category.

The Move Network, including Realtor.com, remains the most trafficked network in real estate, a position the company has retained since inception in 1995, and visitor statistics remained strong in June. The Move Network captured between nine and ten percent of all Web site visits, page views and time-on-site in the real estate category in June[1]. No other competitor came close to rivaling Realtor.com's lead in consumer engagement, as comScore reported that June visitors spent close to 3-times the amount of time-on-site versus the nearest competitor.[1]

"As we prepare for the General Release of the redesigned Realtor.com and Move.com web sites we find the latest comScore numbers extremely encouraging," said Lorna Borenstein, president of Move, Inc.

During the first quarter of 2008, Move announced the launch of the new Beta version of REALTOR.com(R). The Beta includes vastly improved user interface design and a streamlined search process that makes it easier for consumers to view, scan and search the site. The Beta also introduces significant improvements to help real estate professionals differentiate themselves and their listings on REALTOR.com(R).

As a public company and the category leader, the Move Network uses public, panel-based reporting services when stating traffic counts so they can be verified. Move supports the practice of public attribution of sources when quoting data from reports, polls, and surveys in order to offer the transparency and clarity real estate professionals and consumers need when searching for a trusted online source of information.

ABOUT REALTOR.COM(R)

REALTOR.com(R), where the world shops for real estate online, is operated by Move, Inc., and is the official Web site of the National Association of REALTORS(R). Ranked as the #1 homes-for-sale site, REALTOR.com(R) currently offers potential home buyers access to over four million property listings, as well as the most brokers and agents. It also provides REALTORS(R) and the home sellers they represent with the Internet's largest real estate marketplace, reaching more than 4.9 million consumers in June 2008[1]. Agents and companies have the power to customize REALTOR.com(R) resources to maximize their brand and productivity.

REALTOR(R) and REALTOR.com(R) are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS(R). REALTOR(R) is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS(R) and subscribes to its strict Code of Ethics. All other trademarks appearing above are the property of Move, Inc., or of their other respective owners

ABOUT MOVE, INC.

Move, Inc. is the leader in online real estate with 7.4 million[1] monthly visitors to its online network of websites. Move, Inc. operates: Move.com(R), a leading destination for information on new homes and rental listings, moving, home and garden and home finance; REALTOR.com(R), the official Web site of the National Association of REALTORS(R); Welcome Wagon(R); Moving.com; SeniorHousingNet(TM); and TOP PRODUCER(R) Systems. Move, Inc. is based in Westlake Village, California, and employs more than 1600 individuals throughout North America. For more information: http://www.move.com/.

[1] comScore Media Metrix, June 2008

This press release may contain forward-looking statements, including information about management's view of Move's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move's future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.

REALTOR(R) and REALTOR.com(R) are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS(R). REALTOR(R) is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS(R) and subscribes to its strict Code of Ethics. All other trademarks appearing above are the property of Move, Inc., or of their other respective owners.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080213/MOVEINCLOGO)

Photo: http://www.newscom.com/cgi-bin/prnh/20080213/MOVEINCLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Move, Inc.

CONTACT: Julie Reynolds of Move, +1-805-557-3080,
julie.reynolds@move.com

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

BNY ConvergEx Group Enhances US Sales and Trading Business with Key Senior Appointments

NEW YORK, July 31 /PRNewswire-FirstCall/ -- BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced that it is continuing the expansion of its US Sales and Trading business with senior appointments in its equities, options, fixed income and transition management desks.

ConvergEx is enhancing its multi-asset trading capabilities with the appointments of Charles D. Warner, Senior Vice President, Fixed Income Trading; Sean M. Wagner, Senior Vice President, Portfolio Trading; David V. Lenahan, Senior Vice President, Equity Trading; Michael Omilinsky, Vice President, Options Trading; and Jeffrey A. O'Brien, Senior Vice President, Transition Management Sales.

Joseph M. Velli, Chairman and Chief Executive Officer of BNY ConvergEx Group, commented, "The expansion of our global sales and trading franchise is an ongoing strategic initiative for ConvergEx that is crucial to meeting the investment needs of our clients and another strong indication of our commitment to growth. I am extremely confident that our clients in the US and throughout the world will benefit significantly from their appointments."

"Each of these appointments brings an abundance of sales and trading expertise and a wealth of relationships in the US and international institutional investment community to ConvergEx," stated Carey S. Pack, Chief Executive Officer, BNY ConvergEx Execution Solutions. "This targeted investment in our equity, fixed income, options and transition management businesses will enable us to better serve our clients by broadening the product and sector expertise that we can bring to them."

ConvergEx recently attained record-breaking equity trading volume growth and market share across a number of different market centers and other execution venues, as demonstrated by the doubling of ConvergEx's average daily volume at the New York Stock Exchange since the first of the year. ConvergEx also tripled its percentage of NYSE market share during the same time frame, which has led to a significant move up the NYSE's Broker Volume Top 10 rankings.

About BNY ConvergEx Group

BNY ConvergEx Group, LLC provides global institutional agency brokerage and investment technology solutions to institutional clients worldwide. The Company's key business lines -- Liquidity and Execution Management, Investment Technologies and Intermediary and Clearing Services -- focus on a broad array of services designed to deliver a comprehensive, integrated platform of performance-driven, global multi-asset class trading capabilities. BNY ConvergEx Group is comprised of the following businesses: BNY ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC), including BNY Global Transition Management and LJR Recapture Services; LiquidPoint, LLC (member CBOE/SIPC); Eze Castle Transaction Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); G-Trade Services LLC (member FINRA/SIPC); BNY Jaywalk LLC; ConvergEx Global Markets Ltd. and Eze Castle Software LLC. BNY ConvergEx Group is an affiliate of The Bank of New

York Mellon Corporation. Additional information is available at http://www.bnyconvergex.com/.

BNY ConvergEx Group, LLC

CONTACT: Patrick Phalon for BNY ConvergEx Group, LLC, +1-212-468-7713

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

Diebold To Provide Preliminary Financial Results and Conduct Investor Call on August 11

NORTH CANTON, Ohio, July 31 /PRNewswire-FirstCall/ -- Diebold, Incorporated will release preliminary financial results, including earnings estimates for the second quarter and a full-year outlook for 2008, on Monday, Aug. 11, before trading begins on the New York Stock Exchange. Thomas W. Swidarski, president and chief executive officer, and Kevin J. Krakora, executive vice president and chief financial officer, will discuss the results during a conference call scheduled to begin at 10 a.m. (ET) that day.

The conference call will last approximately one hour. Participants should plan to dial in 15 minutes prior to the session. Details on the call are as follows:

Conference Call-in number Passcode Time/Date call (913) 905-1086 2498086 10 a.m. (ET), 8/11/08

Live access, as well as the replay of the call, will be available on Diebold's Web site at http://www.diebold.com/

About Diebold

Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at http://www.diebold.com/

Diebold, Incorporated

CONTACT: Media Relations, Mike Jacobsen, +1-330-490-3796,
michael.jacobsen@diebold.com; or Investor Relations, Chris Bast,
+1-330-490-6908, christopher.bast@diebold.com

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

Citysearch Offers Free Custom Professional Videos to Local Businesses Nationwide

WEST HOLLYWOOD, Calif., July 31 /PRNewswire/ -- Citysearch, a leading online local guide and an operating business of IAC , today announced it is offering free online video for local businesses when they sign up for a Citysearch account now through the end of August 2008. Existing customers can also take advantage of receiving free video by simply contacting their Citysearch representative for further details.

When signing up for a Citysearch business account, merchants will receive a free, custom, professionally shot and edited 60-90 second video vignette of their business that is featured on their Citysearch profile page on the http://www.citysearch.com/ website. Citysearch is also giving customers the ability to embed their video in their own website.

According to comScore MediaMetrix, U.S. Internet users viewed more than 12 billion online videos during May 2008, a 45 percent increase from a year ago. Last year, Citysearch successfully introduced online video as a tool for local businesses to reach their customers. With the current free video promotion, more than ever before, Citysearch is now affording local businesses the chance to take advantage of this easy and engaging way of reaching their customers.

"Video is a powerful online tool for local businesses giving them the unique opportunity to share their story while allowing users to experience the ambiance of the business and establish a connection prior to visiting," said Jay Herratti, CEO of Citysearch. "Citysearch has found that local advertisers experience a high click through rate on their videos, demonstrating increased user engagement. Citysearch is excited to be fostering this high value connection between consumers and our local merchants."

"Due to Internet video's general appeal and ease of implementation as an advertising medium, we anticipate strong adoption by local businesses over the next five years, driving the U.S local video ad market to $1.5 billion by 2012," said Matt Booth, senior vice president and program director, Interactive Local Media, The Kelsey Group. "Citysearch's new offering represents a great opportunity for local businesses to take advantage of video without the expense."

For more information on Video by Citysearch or to inquire about purchasing advertising, please contact (866) 476-1564. Certain restrictions and conditions apply in receiving free video.

About Citysearch

Citysearch is the essential urban companion for living bigger, better and smarter in your city. Combining in-the-know editorial recommendations, candid user comments, and expert advice from local businesses, we keep you connected to the most popular and undiscovered places wherever you are. Citysearch is an operating business of IAC . For more information, visit http://www.citysearch.com/.

Media Contact: Nicole Myden, Citysearch 310.360.4415 Nicole_Myden@citysearch.com

Citysearch

CONTACT: Nicole Myden of Citysearch, +1-310-360-4415,
Nicole_Myden@citysearch.com

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

CMARK International Launches New Website

COLUMBIA, S.C., July 31 /PRNewswire-FirstCall/ -- CMARK International, Inc. (OTC Pink Sheets: CMIT), a leading service-disabled, Veteran-owned Small Business (SDVOSB) provider of service and products to federal government institutions and facilities announced today the launch of its new corporate website, http://www.cmarkinternational.com/ .

The new website exhibits an overall enhanced commercial grade re-branding that better reflects the company's new initiatives, projects and vendors. This more user-friendly interface allows the users to easily navigate through dynamically updated news, projects, products and services. In addition to the better organization of content, the new website includes a live stock price, site search feature, and interactive flash, all with new enhanced visuals.

"This is an imperative step towards the ongoing development of the new CMARK International. The website allows us to better the communication with our vendors, business partners, and shareholders." said CEO, Charles W. Jones. "We are very excited about the new website and welcome everyone to see our new look for themselves."

In addition to CMARK International's new company website, we have also created an additional website presenting our new online shopping division, http://www.cmarkonline.org/ . CMARK Online allows members to browse, order, and ship the large variety of products CMARK International offers.

"With our recent technological expansions, we feel CMARK has taken great strides to fulfilling the vast potential that it has shown." Said CEO, Charles W. Jones.

About CMARK International Inc.:

CMARK International provides a wide array of services and products in the areas of construction, interior systems and hospitality operations to federal government institutions and facilities. As one of the best established and largest Service-Disabled, Veteran-Owned Small Businesses (SDVOSB), CMARK has built a strong franchise to meet the federal procurement opportunity represented by the Veterans Benefits Act of 2003 (Public Law 108-183) which requires U.S. government agencies and prime contractors to earmark three percent of all federal procurement dollars to high quality SDVOSB firms. For more information, visit http://www.cmark.org/ .

Forward Looking Statements

Statements contained in this press release which are not historical facts are known as forward-looking statements as that item is defined in the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Act of 1995. These forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from estimated results. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Investor Relations Creative Capital Worldwide LLC (305) 978-5195 or jnb@creativecapitalww.com for CMARK International Inc.

CMARK International, Inc.

CONTACT: Investor Relations, Creative Capital Worldwide LLC,
+1-305-978-5195, or for CMARK International Inc., jnb@creativecapitalww.com

Web site: http://www.cmarkinternational.com/
http://www.cmarkonline.org/
http://www.cmark.org/

Diebold Board Declares Third-Quarter Cash Dividend

NORTH CANTON, Ohio, July 31 /PRNewswire-FirstCall/ -- The Board of Directors of Diebold, Incorporated today declared a third-quarter cash dividend of 25 cents per share on all common shares. The dividend is payable on Friday, Sept. 5, to shareholders of record at the close of business on Friday, Aug. 22.

About Diebold

Diebold, Incorporated is a global leader in providing integrated self-service delivery and security systems and services. Diebold employs more than 17,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's Web site at http://www.diebold.com/ .

Diebold, Incorporated

CONTACT: Media Relations, Mike Jacobsen, +1-330-490-3796,
michael.jacobsen@diebold.com; Investor Relations, Christopher Bast,
+1-330-490-6908, christopher.bast@diebold.com, both of Diebold, Incorporated

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

Aurora Health Care Completes System-Wide Conversion to Masimo SET Pulse Oximetry TechnologyMasimo provides Aurora with technology and sensor standardization across its facilities - creating efficiencies and cost savings

IRVINE, Calif., July 31 /PRNewswire-FirstCall/ -- Masimo, the inventor of Pulse CO-Oximetry and Measure-Through-Motion-and-Low-Perfusion Pulse Oximetry, announced that Aurora Health Care has completed a system-wide conversion to Masimo SET pulse oximetry technology. The integrated health care provider with 13 hospitals and more than 100 clinics performed an independent evaluation of pulse oximetry technologies and chose Masimo over all other available technologies to unify patient monitoring capabilities across their entire network.

"The decision to convert all of our hospital and surgery facilities to Masimo SET pulse oximetry originally grew out of clinical preference in the Post Anesthesia Care Unit (PACU) and Neonatal Intensive Care Unit (NICU) because of Masimo's superior performance during the most challenging of patient conditions," stated Alan Gresch, Corporate Manager of Clinical Engineering, Aurora Health Care. "Performance preference soon gave way to clinical efficiencies and cost savings created by standardization to the Masimo SET technology platform. Now, in addition to better technology across the board, our staff no longer has to change sensors or monitors when patients are transferred between departments."

Aurora Health Care is a not-for-profit Wisconsin health care provider and a national leader in efforts to improve the quality of health care. Aurora offers care at sites in more than 90 communities throughout eastern Wisconsin, including 13 hospitals, more than 100 clinics and over 130 community pharmacies. Prior to their system-wide conversion, hospitals and surgery centers in the Aurora Health Care system struggled with pulse oximetry technology and sensor incompatibility issues.

"I've been sold on Masimo SET pulse oximetry ever since I first saw that it worked accurately on the tiniest of fingers and under the most difficult of patient conditions," stated Sharon O'Hara, BSN, RN, CAPA, Perianesthesia Supervisor, PACU, Aurora Bay Care. "In this practice setting, SpO2 is the most important parameter. It can also be difficult to measure under typical PACU patient conditions, which can include hypothermia and shivering. Masimo SET eliminates artifact so we get accurate data before treating the patient."

By making the conversion to Masimo, Aurora Health Care joins many of the top hospitals in the United States -- including four of the top five -- as listed on the US News & World Report Honor Roll, which have all adopted Masimo SET as their primary pulse oximetry platform. Masimo SET has been clinically proven in more than 100 independent and objective studies to provide the most trustworthy SpO2 measurements, even under the most difficult clinical conditions such as patient motion or low peripheral perfusion. These studies demonstrate that Masimo SET delivers improvements in outcomes, safety and efficiency.

In addition to the clinical benefits realized by the adoption of Masimo SET pulse oximetry technology, Aurora officials noted that the level of service and support they received from the Masimo implementation team throughout the multi-facility conversion process impressed them. "I must admit that I was not looking forward to a system-wide technology conversion involving 13 hospitals and 3 surgery centers," stated Gresch. "But from the very start, the service, training and support we received from the entire Masimo clinical implementation team was spectacular."

"Masimo's implementation plan was so detailed, carefully orchestrated and executed in such a professional manner that there were absolutely no surprises," continued Gresch. "In addition, they were there whenever we needed them, answering every question we had about the process or the equipment, and providing our entire team with a solid understanding of the technology and its clinical application."

As part of the conversion, hospitals in the Aurora Health Care network will also have the ability to noninvasively measure many blood constituents with Masimo Rainbow SET Pulse CO-Oximetry that previously required invasive procedures. Masimo Rainbow SET is the first-and-only technology platform that continuously and noninvasively measures total hemoglobin (SpHb(TM)), oxygen content (SpOC(TM)), carboxyhemoglobin (SpCO), methemoglobin (SpMet), and PVI, in addition to oxyhemoglobin (SpO2), perfusion index (PI), and pulse rate. Developed as a scalable and upgradeable technology platform, Masimo Rainbow SET enables clinicians and hospitals to do more with their Masimo devices by building and expanding the noninvasive measurements, capabilities and features within the platform. This allows hospitals to make an investment in patient safety today that won't become obsolete tomorrow.

Rick Fishel, President of Masimo Americas, stated, "Aurora Health Care is a nationally recognized healthcare leader with a successful approach to enhancing heath care quality using a combination of demonstrated best practices and patient-centered care management. As a medical technology innovator, Masimo shares this vision, and we are proud to provide innovative solutions that can facilitate Aurora's plan to create better care processes for all of their patients. Masimo SET pulse oximetry and Masimo Rainbow SET Pulse CO-Oximetry solutions provide noninvasive capabilities that can help Aurora advance patient safety and improve the way care is delivered in a variety of clinical settings."

About Masimo

Masimo develops innovative monitoring technologies that significantly improve patient care -- helping solve "unsolvable" problems. In 1995, the company debuted Measure-Through-Motion-and-Low-Perfusion pulse oximetry, known as Masimo SET, which virtually eliminated false alarms and increased pulse oximetry's ability to detect life-threatening events. More than 100 independent and objective studies demonstrate Masimo SET provides the most reliable SpO2 and pulse rate measurements even under the most challenging clinical conditions, including patient motion and low peripheral perfusion. In 2005, Masimo introduced Masimo Rainbow SET, a breakthrough noninvasive blood constituent monitoring platform that can measure many blood constituents that previously required invasive procedures. Rainbow SET continuously and noninvasively measures total hemoglobin (SpHb(TM)), oxygen content (SpOC(TM)), carboxyhemoglobin (SpCO(R)), methemoglobin (SpMet(R)), and PVI(TM), in addition to oxyhemoglobin (SpO2), pulse rate (PR), and perfusion index (PI), allowing early detection and treatment of potentially life-threatening conditions. Founded in 1989, Masimo has the mission of "Improving Patient Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications." Additional information about Masimo and its products may be found at http://www.masimo.com/.

Forward Looking Statements

This press release may include forward-looking statements. These forward-looking statements are based on current expectations about future events affecting us and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control, including: risks related to our assumption that Masimo SET and Masimo Rainbow SET will deliver a sufficient level of clinical improvement over alternative pulse oximetry and noninvasive patient monitoring systems to allow for further adoption of the technology at other hospitals, risks related to our assumption that this agreement with Aurora Health Care will serve to substantially increase revenues, and risks related to our assumption that Masimo's new noninvasive measurements -- total hemoglobin (SpHb(TM)) and oxygen content (SpOC(TM)) -- will deliver a sufficient level of clinical improvement over alternative hemoglobin testing capabilities to allow for rapid adoption of the technology, as well as other factors discussed in the "Risk Factors" section of our annual report on Form 10-Q for the quarter ended March 29, 2008, filed with the Securities and Exchange Commission on May 1, 2008. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We do not undertake any obligation to update, amend or clarify these forward-looking statements or the risk factors contained in our annual report on Form 10-Q for the quarter ended March 29, 2008, whether as a result of new information, future events or otherwise, except as may be required under the federal securities laws.

Contact: Dana Banks Masimo Corporation 949-297-7348

Masimo, SET, Signal Extraction Technology, Improving Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications, Rainbow, SpCO, SpMet, PVI, Pulse CO-Oximetry and Pulse CO-Oximeter are trademarks or registered trademarks of Masimo Corporation.

Masimo Corporation

CONTACT: Dana Banks of Masimo Corporation, +1-949-297-7348

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

Cablevision Surpasses 2 Million Optimum Voice(R) LinesNation's Most Highly-Penetrated Competitive Phone Service Continues to Win Awards, Attract Customers and Surpass Milestones, Delivering Value, Reliability and Advanced Features to Residential and Business Customers

BETHPAGE, N.Y., July 31 /PRNewswire-FirstCall/ -- Cablevision Systems Corp., today announced that its award-winning Optimum Voice digital voice-over-cable service this week surpassed 2 million phone lines in service -- the latest milestone for a product that has attracted more than a third of the homes passed by Cablevision's fiber optic network and a growing base of business customers as well, as it has continued to win accolades for quality and reliability. Just this week, Optimum Voice was named the top voice over IP service for the fourth year in a row in PC Magazine's annual Readers' Survey, while winning a fourth straight Readers' Choice Award. Optimum Voice also received the highest rating in residential telephone customer satisfaction in the Mid-Atlantic region for 2007 in a study by J.D. Power and Associates.

"The response by residential and small business customers alike to the value, reliability and advanced features of Optimum Voice has been extraordinary," said Joe Varello, Cablevision's vice president of digital voice product management. "We want to thank our customers for helping us achieve this latest milestone -- more than two million phone lines in operation across our service area -- as Optimum Voice continues to win high praise and accolades, redefining expectations of how good a voice service can be."

Cablevision offers small and medium-sized business customers up to 12 lines of Optimum Voice, up to four lines for residential customers, all without the contracts or hidden add-on fees that are common among old-line phone companies. Every line includes unlimited flat-rate calling across the U.S., Canada and Puerto Rico, with a full suite of advanced calling features included at no additional charge, including call waiting, caller ID, enhanced voicemail, call forwarding and directory assistance.

Optimum Voice is available exclusively to Optimum Online(R) high-speed Internet customers. The service includes unlimited calling across the U.S., Canada and Puerto Rico, and a superior array of advanced features like enhanced voicemail, call waiting, caller ID, caller ID blocking (*67), call return (*69), three-way calling and call forwarding, free directory assistance (411), VIP ringing, find me, caller ID on call waiting, busy redial, anonymous calling and anonymous call blocking -- all at no additional cost. The service's "My Optimum Voice" web portal allows customers to easily activate account features, listen to voicemail messages through any Web browser, review and sort calling history and manage other settings.

Unlike "Internet phone services," Optimum Voice provides the security of enhanced 911 access for every customer and provides a local number portability option, so new customers who switch from other telephone companies can keep their existing phone number. Optimum Voice service is carried over Cablevision's fiber optic network, not the public Internet, and offers customers a highly reliable voice service with superior value.

For customers who make international calls, Cablevision offers an innovative flat-rate international calling plan, Optimum Voice World Call, giving customers up to 250 minutes per month of calling anywhere in the world from their Optimum Voice phone, including up to 30 minutes of calls to Cuba, for a flat monthly fee of $19.95, delivering more value to customers than any other international calling plan.

About Cablevision

Cablevision Systems Corporation is one of the nation's leading media and entertainment companies. Its cable television operations serve more than 3 million households in the New York metropolitan area. The company's advanced telecommunications offerings include its iO TV(R) digital television, Optimum Online(R) high-speed Internet, Optimum Voice(R) digital voice-over-cable, and its Optimum Lightpath integrated business communications services. Cablevision operates several successful programming businesses, including AMC, IFC, Sundance Channel and WE tv, through Rainbow Media Holdings LLC, and serves the New York area as publisher of Newsday and other niche publications through Newsday LLC. In addition to these businesses, Cablevision owns Madison Square Garden and its sports teams, the New York Knicks, Rangers and Liberty. The company also operates New York's famed Radio City Music Hall, the Beacon Theatre, and the Chicago Theatre, and owns and operates Clearview Cinemas.

Disclaimer: Cablevision's Optimum Voice received the highest numerical score among telephone service providers in the Mid-Atlantic Region in the proprietary J.D. Power and Associates 2007 Residential Regional Telephone Customer Satisfaction Study(SM). Study based on 11,911 total responses from consumers measuring 6 providers in the Mid-Atlantic region (DE, MD, NJ, PA, VA, WV) and measures satisfaction of consumers who received their local and long distance service from one provider. Proprietary study results are based on experiences and perceptions of consumers surveyed between April-May 2007. Your experiences may vary. Visit jdpower.com.

Cablevision Systems Corp.

CONTACT: Jim Maiella of Cablevision Systems Corp., +1-516-803-3947

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

Station Voice(TM) Powered by Vivox(R) Making Wonderful Noise in Sony Online Entertainment GamesEverQuest(R) II and Star Wars Galaxies(TM) Go Live With Free Voice Chat, EverQuest(R) to Follow Suit Soon

SAN DIEGO, July 31 /PRNewswire/ -- Station Voice(TM), a service powered by Vivox(R) that allows players to talk to each other in online games, is now available in the role-playing games EverQuest(R) II and Star Wars Galaxies(TM), Sony Online Entertainment LLC (SOE), announced today. Station Voice, which is scheduled to be available next month in EverQuest, is available for players at no additional cost with their current subscription plan.

"In-game voice chat is an enhanced new feature gamers of all levels can enjoy. Now, SOE's players can easily talk to one another and better enjoy the online gaming experience," said John Smedley, president of Sony Online Entertainment. "The integration of Station Voice into these initial games was seamless, and we look forward to incorporating this added gaming experience into other SOE titles, as well as implementing the next phase of features to come soon."

The initial launch of Station Voice will allow players to: -- Talk person-to-person in game with any microphone and headset combo -- Chat with their party, guild or any other group in game -- Play and communicate without worry of a significant increase in game lag -- Manage group/user participation with moderator controls -- Individually mute and set volume per user -- Set up easily without the need for separate software, accounts or registration

"SOE's commitment to the player experience and their game communities is unrivalled and presents an incredible opportunity to demonstrate the power of voice," said Rob Seaver, CEO of Vivox. "Through a magnificent implementation, SOE has delivered high quality voice chat, seamless access, instant groups, intuitive controls and a fantastic and immersive experience for their players."

In addition to these current features, SOE is planning to implement other Vivox services into Station Voice later this year, such as voice fonts and the ability to connect to games from Station Launcher. SOE's plan to integrate the service with Station Launcher should allow anyone who uses the Station Launcher, even if he or she doesn't otherwise subscribe to an SOE game, to take advantage of these powerful voice chat capabilities. These features, which are intended to support hundreds of players in a channel, are also slated to be extended to other current and future SOE titles, such as The Agency(TM).

For specific details and tips on how to use Station Voice in each game, log onto http://www.station.sony.com/stationvoice/

About Vivox, Inc.

Based in Framingham, MA and founded in 2005, Vivox is the leading provider of community-building voice services for online games and virtual worlds. Supporting millions of users in more than 180 countries, the Vivox Network is the world's largest voice network for gamers. Vivox customers include online game and virtual world developers and publishers such as CCP Games, Icarus Studios, Linden Lab, NCsoft, Sony Online Entertainment and Wizards of the Coast. For more information on Vivox and the power of voice, visit http://www.vivox.com/

About Sony Online Entertainment

Sony Online Entertainment LLC (SOE) is a recognized worldwide leader in massively multiplayer online games, with hundreds of thousands of subscribers around the globe. SOE creates, develops and provides compelling entertainment for the personal computer, online, game console and wireless markets. Known for its blockbuster franchises and hit titles including EverQuest(R), EverQuest(R) II, Champions of Norrath(R), Untold Legends(TM), and PlanetSide(R), as well as for developing Star Wars Galaxies(TM), SOE continues to redefine the business of online gaming and the creation of active player communities while introducing new genres on various entertainment platforms. Headquartered in San Diego, CA, with additional development studios in Austin, TX, Seattle, WA, Denver, CO, and Taiwan, SOE has an array of cutting-edge games in development.

About LucasArts

LucasArts, a Lucasfilm Ltd. company, is a leading developer and publisher of interactive entertainment software worldwide for video game console systems, computers and the Internet. Based in San Francisco, Calif., as well as on the Internet at http://www.lucasarts.com/, LucasArts was created in 1982 by George Lucas to provide an interactive element to his vision of a state-of-the-art, multifaceted entertainment company.

STAR WARS(TM) and related properties are trademarks and/or copyrights, in the United States and other countries, of Lucasfilm Ltd. and/or its affiliates. TM & (C) Lucasfilm Ltd. All rights reserved. All other trademarks and trade names are properties of their respective owners.

Sony Online Entertainment

CONTACT: Katie Hanson of Sony Online Entertainment, +1-858-577-3167,
khanson@soe.sony.com

Web site: http://www.station.com/
http://www.station.sony.com/stationvoice
http://www.vivox.com/
http://www.lucasarts.com/

Wireless Phone Users in Illinois' Perry County Now Experience Even Clearer Reception and Fewer Dropped CallsVerizon Wireless Activates Cell Site in Tamaroa

TAMAROA, Ill., July 31 /PRNewswire/ -- Verizon Wireless, the only major carrier with a 30-day network test-drive pledge that pays for calls if a customer isn't satisfied and switches to another carrier, has activated a new cell site in Tamaroa, Ill., that expands network coverage and increases capacity, enabling more customers to use their wireless phones concurrently to make calls; send and receive email and text, picture and video messages; and download games and ringtones while enjoying clearer reception and fewer dropped calls.

This new cell site improves Verizon Wireless' voice and data network in northern Perry County, supplying better coverage and capacity in Tamaroa, Ill. Specifically, Verizon Wireless customers will experience better coverage in the town of Tamaroa and neighboring areas along U.S. Highway 51 -- primarily between Farmers Market Road and Illinois Route 154 to the north and south. The improved coverage stretches westward in this area to about the Bob White and Park Roads intersection, and includes points as far east as the E. Tamaroa and Redbird Roads junction near the county line.

"This network enhancement reflects our ongoing commitment to meet the growing needs of our customers and to provide them with the reliable, high quality service they expect from Verizon Wireless," said Lou Sigillo, president - Kansas/Missouri/Southern Illinois Region, Verizon Wireless.

Reliable service is fundamental to customer loyalty, and Verizon Wireless boasts the highest customer loyalty in the industry, as measured by the company's low percent of customer turnover.

"The value we offer our customers is closely tied to our industry-leading customer retention," Sigillo said. "Wireless consumers today understand that value is not defined by price alone. A major reason our customers choose Verizon Wireless and stay with us is because we offer the nation's most reliable network."

This new cell site is part of Verizon Wireless' continual effort to expand coverage, increase capacity and enhance the quality of its wireless voice and data network in Illinois and throughout the country. Verizon Wireless has invested $44 billion since it was formed -- 5.5 billion on average every year -- to increase the coverage and capacity of its national network and to add new services. More than $176 million of this investment was spent in Illinois in 2007.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 68.7 million customers. Headquartered in Basking Ridge, N.J., with 70,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). For more information, go to: http://www.verizonwireless.com/. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.

Verizon Wireless

CONTACT: Cheryl Bini Armbrecht, Cheryl.Bini@verizonwireless.com, or
Brenda Hill, Brenda.Hill@verizonwireless.com, both of Verizon Wireless,
+1-314-920-4444; or Caroline Villanueva, +1-314-725-5645,
Caroline@sequel-llc.com, for Verizon Wireless

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

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