CEVA, Inc. to Present at RBC Capital Markets Technology, Media & Communications Conference

SAN JOSE, Calif., July 31 /PRNewswire-FirstCall/ -- CEVA, Inc. (; ), a leading licensor of silicon intellectual property (SIP) DSP cores and platform solutions for mobile handsets, consumer electronics and storage applications, today announced that CEVA's management will present at the RBC Capital Markets Technology, Media & Communications Conference in San Francisco, CA on Wednesday, August 6, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20051010/CEVALOGO)

The conference will offer institutional investors the opportunity to learn about CEVA's corporate strategy, the key growth drivers that influence its business and the Company's unique value proposition. CEVA's presentation at the conference will be webcast live at 4:00p.m. Pacific Time on the day and can be accessed at the following link: http://www.wsw.com/webcast/rbc91/ceva/

An archived webcast of the presentation will also be available on CEVA's website following the conference.

About CEVA, Inc.

Headquartered in San Jose, Calif., CEVA is a leading licensor of silicon intellectual property (SIP) platform solutions and DSP cores for mobile, consumer electronics and storage applications. CEVA's IP portfolio includes comprehensive solutions for multimedia, audio, voice over packet (VoP), Bluetooth and Serial ATA (SATA), and a wide range of programmable DSP cores and subsystems with different price/performance metrics serving multiple markets. In 2007, CEVA's IP was shipped in over 225 million devices. For more information, visit http://www.ceva-dsp.com/

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20051010/CEVALOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com CEVA, Inc.

CONTACT: Yaniv Arieli, CFO, +1-408-514-2941, yaniv.arieli@ceva-dsp.com,
or Richard Kingston, Director of Marketing & Investor Relations,
+1-408-514-2976, richard.kingston@ceva-dsp.com, both of CEVA, Inc.

Web site: http://www.ceva-dsp.com/

Tucows second quarter investment community conference call is Tuesday, August 12, 2008 at 5:00 P.M. (ET)

TORONTO, July 31 /PRNewswire-FirstCall/ -- Tucows Inc. (TSX: TC, AMEX: TCX) plans to report its second quarter fiscal 2008 financial results via news release on Tuesday, August 12, 2008 at approximately 4:00 p.m. (ET). Company management will host a conference call the same day at 5:00 p.m. (ET) to discuss the results and the outlook for the company.

Participants can access the conference call via the Internet at http://tucowsinc.com/investors.

For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial 416-640-1917 or 1-877-289-8525 and enter the pass code 21278773 followed by the pound key. The telephone replay will be available until Tuesday, August 19, 2008 at midnight. To access the archived conference call as an MP3 via the Internet, go to http://tucowsinc.com/investors.

About Tucows

Tucows provides Internet services for web hosting companies and ISPs. Through our global network of over 9,000 service providers our OpenSRS group provides millions of email boxes and manages over eight million domains. Tucows is an accredited registrar with ICANN (the Internet Corporation for Assigned Names and Numbers). We hold a domain name portfolio of approximately 150,000 domain names that are available for sale, monetized through advertising and support our wholesale Personal Names Service. Our Retail division sells Tucows services to consumers and small business owners through Domain Direct, IYD (It's Your Domain) and NetIdentity. Tucows.com remains one of the most popular software download sites on the Internet. For more information please visit: http://tucowsinc.com/.

Tucows Inc.

CONTACT: Leona Hobbs, Director, Communications (416) 538-5450,
ir@tucows.com

CBIZ Reports Second-Quarter and First-Half 2008 ResultsSecond-Quarter Revenue Up 12.2%; EPS From Continuing Operations Up 20%First-Half Revenue Grows 11.3%; EPS From Continuing Operations Up 22%

CLEVELAND, July 31 /PRNewswire-FirstCall/ -- CBIZ, Inc. today announced second-quarter and first-half results for the period ended June 30, 2008.

CBIZ reported revenue of $175.7 million for the second quarter ended June 30, 2008, an increase of 12.2% over the $156.7 million reported for the second quarter of 2007. Same-unit revenue increased by 5.8%, or by $9.0 million. Revenue from newly acquired operations contributed $10.0 million to revenue growth in the second quarter. CBIZ reported net income from continuing operations for the second quarter of 2008 of $7.5 million, or $0.12 per diluted share, compared with $6.5 million, or $0.10 per diluted share in the second quarter of 2007.

During the first half of 2008, CBIZ repurchased approximately 3.8 million shares of its common stock and since June 30, the Company has repurchased approximately 550,000 additional shares at a total cost of approximately $37.4 million to date. At June 30, 2008, the outstanding balance of the Company's $150 million unsecured credit facility was at $60 million.

For the six-month period ended June 30, 2008, CBIZ reported revenue of $373.1 million, an increase of 11.3%, or $38.0 million over the $335.1 million reported for the comparable six-month period a year ago. Same-unit revenue increased by 5.4%, or $17.9 million, for the first six months of 2008 compared to the same period a year ago. Acquisitions, net of divestitures, contributed $20.1 million to revenue growth for the first half of 2008. Net income from continuing operations was $24.7 million for the first six months of 2008, or $0.39 per diluted share, compared with $21.3 million for the first six months of 2007, or $0.32 per diluted share.

"The second quarter of 2008 represents the twentieth consecutive quarter of same-unit revenue growth for CBIZ," stated Steven L. Gerard, Chairman and CEO. "In this economic environment we are very pleased to record continued strong growth in revenues and earnings through the first six months of this year. We completed three acquisitions in the first half of 2008 and we continue to work on a full pipeline of potential additional acquisitions. Cash flow continues to be strong and we are on track to achieve our goals for 2008 which include revenue growth of 10% and growth in earnings per share of at least 20% for the full year 2008 compared with 2007," concluded Mr. Gerard.

CBIZ will host a conference call later this morning to discuss its results. The call will be webcast in a listen-only mode over the Internet for the media and the public, and can be accessed at http://www.cbiz.com/ . Shareholders and analysts wishing to participate in the conference call may dial 1-800-640-9765 several minutes before 11:00 a.m. (ET). If you are dialing from outside the United States, dial 1-847-413-4837. A replay of the call will be available starting at 1:00 p.m. (ET) July 31 through midnight (ET), August 4, 2008. The dial-in number for the replay is 1-877-213-9653. If you are listening from outside the United States, dial 1-630-652-3041. The access code for the replay is 22198855. A replay of the webcast will also be available on the Company's web site at http://www.cbiz.com/ .

CBIZ, Inc. provides professional business services that help clients better manage their finances, employees and technology. As the largest benefits specialist, one of the largest accounting, valuation and medical practice management companies in the United States, CBIZ provides its clients with financial services which include accounting and tax, internal audit, merger and acquisition advisory, and valuation. Employee services include group benefits, property and casualty insurance, payroll, HR consulting and wealth management. CBIZ also provides information technology, hardware and software solutions, healthcare consulting and medical practice management. These services are provided throughout a network of more than 140 Company offices in 34 states.

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the Company's ability to adequately manage its growth; the Company's dependence on the current trend of outsourcing business services; the Company's dependence on the services of its CEO and other key employees; competitive pricing pressures; general business and economic conditions; and changes in governmental regulation and tax laws affecting its insurance business or its business services operations. A more detailed description of such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.

CBIZ, INC. FINANCIAL HIGHLIGHTS (UNAUDITED) THREE MONTHS ENDED JUNE 30, 2008 AND 2007 (In thousands, except percentages and per share data) THREE MONTHS ENDED JUNE 30, 2008 % 2007 (1) % Revenue $175,734 100.0% $156,658 100.0% Operating expenses 154,883 88.1% 138,259 88.3% Gross margin 20,851 11.9% 18,399 11.7% Corporate general and administrative expense 7,791 4.5% 7,408 4.7% Operating income 13,060 7.4% 10,991 7.0% Other income (expense): Interest expense (1,888) -1.1% (1,694) -1.1% Gain on sale of operations, net 221 0.2% 10 0.0% Other income, net (2) 335 0.2% 1,988 1.3% Total other income (expense), net (1,332) -0.7% 304 0.2% Income from continuing operations before income tax expense 11,728 6.7% 11,295 7.2% Income tax expense 4,255 4,792 Income from continuing operations 7,473 4.3% 6,503 4.2% Loss from operations of discontinued businesses, net of tax (196) (556) Gain on disposal of discontinued businesses, net of tax 9 3,883 Net income $7,286 4.1% $9,830 6.3% Diluted earnings per share: Continuing operations $0.12 $0.10 Discontinued operations - 0.05 Net income $0.12 $0.15 Diluted weighted average common shares outstanding 62,440 66,459 Other data from continuing operations: EBIT (3) $13,395 $12,979 EBITDA (3) $17,193 $16,393

(1) Certain amounts in the 2007 financial data have been reclassified to conform to the current year presentation.

(2) Includes a net loss of $131 and a net gain of $1,201 attributable to assets held in the Company's deferred compensation plan for the three months ended June 30, 2008 and 2007, respectively. These net gains do not impact the Company's "income from continuing operations before income tax expense" as they are directly offset by compensation to the Plan participants. Compensation is included in "operating expenses" and "corporate general and administrative expense."

(3) EBIT represents income from continuing operations before income taxes, interest expense and the gain on the sale of operations, net. EBITDA represents EBIT before depreciation and amortization expense of $3,798 and $3,414 for the three months ended June 30, 2008 and 2007, respectively. The Company has included EBIT and EBITDA data because such data is commonly used as a performance measure by analysts and investors and as a measure of the Company's ability to service debt. EBIT and EBITDA should not be regarded as an alternative or replacement to any measurement of performance under generally accepted accounting principles.

CBIZ, INC. FINANCIAL HIGHLIGHTS (UNAUDITED) SIX MONTHS ENDED JUNE 30, 2008 AND 2007 (In thousands, except percentages and per share data) SIX MONTHS ENDED JUNE 30, 2008 % 2007 (1) % Revenue $373,086 100.0% $335,102 100.0% Operating expenses 313,213 84.0% 282,297 84.2% Gross margin 59,873 16.0% 52,805 15.8% Corporate general and administrative expense 15,043 4.0% 16,090 4.8% Operating income 44,830 12.0% 36,715 11.0% Other income (expense): Interest expense (3,605) -1.0% (2,966) -0.9% Gain on sale of operations, net 241 0.1% 105 0.0% Other income (expense), net (2) (1,012) -0.3% 2,595 0.8% Total other expense, net (4,376) -1.2% (266) -0.1% Income from continuing operations before income tax expense 40,454 10.8% 36,449 10.9% Income tax expense 15,753 15,100 Income from continuing operations 24,701 6.6% 21,349 6.4% Loss from operations of discontinued businesses, net of tax (194) (945) (Loss) gain on disposal of discontinued businesses, net of tax (440) 3,690 Net income $24,067 6.5% $24,094 7.2% Diluted earnings (loss) per share: Continuing operations $0.39 $0.32 Discontinued operations (0.01) 0.04 Net income $0.38 $0.36 Diluted weighted average common shares outstanding 63,320 67,236 Other data from continuing operations: EBIT (3) $43,818 $39,310 EBITDA (3) $51,433 $46,096

(1) Certain amounts in the 2007 financial data have been reclassified to conform to the current year presentation.

(2) Includes a net loss of $1,919 and a net gain of $1,513 attributable to assets held in the Company's deferred compensation plan for the six months ended June 30, 2008 and 2007, respectively. These net gains and losses do not impact the Company's "income from continuing operations before income tax expense" as they are directly offset by compensation to the Plan participants. Compensation is included in "operating expenses" and "corporate general and administrative expense."

(3) EBIT represents income from continuing operations before income taxes, interest expense and gain on the sale of operations, net. EBITDA represents EBIT before depreciation and amortization expense of $7,615 and $6,786 for the six months ended June 30, 2008 and 2007, respectively. The Company has included EBIT and EBITDA data because such data is commonly used as a performance measure by analysts and investors and as a measure of the Company's ability to service debt. EBIT and EBITDA should not be regarded as an alternative or replacement to any measurement of performance under generally accepted accounting principles.

CBIZ, INC. FINANCIAL HIGHLIGHTS (UNAUDITED) THREE AND SIX MONTHS ENDED JUNE 30, 2008 AND 2007 (In thousands, except percentages and ratios) THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, 2008 2007 (1) 2008 2007 (1) Revenue Financial Services $74,955 $69,112 $173,760 $161,144 Employee Services 47,307 42,837 94,562 87,874 Medical Management Professionals 41,899 32,116 82,665 61,724 National Practices 11,573 12,593 22,099 24,360 Total $175,734 $156,658 $373,086 $335,102 Gross margin Financial Services $9,517 $9,298 $37,610 $35,549 Employee Services 8,505 8,063 17,319 17,868 Medical Management Professionals 5,581 4,521 10,255 7,463 National Practices 773 1,618 920 2,437 Operating expenses - unallocated (2) (3,525) (5,101) (6,231) (10,512) Total $20,851 $18,399 $59,873 $52,805 SELECT BALANCE SHEET DATA AND RATIOS JUNE 30, DECEMBER 31, 2008 2007 (1) Cash and cash equivalents $11,622 $12,144 Restricted cash $18,331 $15,402 Accounts receivable, net $132,699 $115,333 Current assets before funds held for clients $182,409 $161,681 Funds held for clients - current and non-current $75,087 $88,048 Goodwill and other intangible assets, net $281,721 $268,388 Total assets $599,582 $577,992 Current liabilities before client fund obligations $100,296 $95,922 Client fund obligations $76,700 $88,048 Convertible notes $100,000 $100,000 Bank debt $60,000 $30,000 Total liabilities $375,724 $351,546 Treasury stock $(248,244) $(214,883) Total stockholders' equity $223,858 $226,446 Debt to equity (3) 71.5% 57.4% Days sales outstanding from continuing operations (4) 69 64 Shares outstanding 62,223 64,637 Basic weighted average common shares outstanding 62,544 65,061 Diluted weighted average common shares outstanding 63,320 66,356

(1) Certain amounts in the 2007 financial data have been reclassified to conform to the current year presentation.

(2) Represents operating expenses not directly allocated to individual business units, including incentive compensation, gains or losses attributable to assets held in the Company's deferred compensation plan, stock based compensation, and certain advertising expenses.

(3) Ratio is convertible notes and bank debt divided by total equity.

(4) DSO is provided for continuing operations and represents accounts receivable (before the allowance for doubtful accounts) and unbilled revenue (net of realization adjustments) at the end of the period, divided by trailing twelve month daily revenue. The Company has included DSO data because such data is commonly used as a performance measure by analysts and investors and as a measure of the Company's ability to collect on receivables in a timely manner. DSO should not be regarded as an alternative or replacement to any measurement of performance under generally accepted accounting principles. DSO at June 30, 2007 was 72 days.

CBIZ, Inc.

CONTACT: Ware Grove, Chief Financial Officer, or Lori Novickis,
Director, Corporate Relations, both of CBIZ, Inc., +1-216-447-9000

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

Assurant Strengthens Position in Wireless Service Contract Market by Acquiring Wireless Handset Service Provider Signal Holdings

NEW YORK and WAYNE, Pa., July 31 /PRNewswire-FirstCall/ -- Assurant, Inc. , a premier provider of specialty insurance and insurance-related products and services, announced today that it has entered into an agreement with Signal Holdings LLC, a leading provider of wireless handset protection programs and repair services, to acquire the company's outstanding capital stock for $250 million in an all cash transaction from Trident II, L.P. and Signal Holdings' management. Trident II is a private equity fund managed by Stone Point Capital LLC. The transaction, which is subject to regulatory approval, is expected to close in the fourth quarter of 2008.

Signal Holdings, a privately held company headquartered in Wayne, Pa., generates annual revenues of approximately $330 million through servicing service contracts for 4.2 million wireless subscribers. Signal has longstanding relationships with leading wireless carriers and employs approximately 700 people in four locations.

Assurant Solutions and Signal have been business partners since 2001. Assurant has provided the underwriting and marketing support with Signal providing the servicing capability for their shared client base. As a result, Assurant expects that its acquisition of Signal will not change reported gross written premiums, but will add approximately $150 million to Assurant Solutions revenue.

Robert B. Pollock, Assurant's president and chief executive officer said: "Assurant continues to target opportunities which we believe offer long term growth opportunities to our shareholders, and this acquisition improves our position in the service contract market for wireless handsets. Success of this deal will be measured by our ability to increase our market position in this growing market. The deal should be accretive to earnings beginning in 2010 after we have completed the integration of Signal into Assurant Solutions."

S. Craig Lemasters, president and chief executive officer of Assurant Solutions said: "This transaction expands Assurant Solutions' client portfolio and servicing capabilities in the wireless marketplace. In addition, we add an experienced management team and an outstanding customer service organization to Assurant Solutions, which is consistent with our goal of providing a total solution to our clients by integrating all aspects of the customer experience.

Tom Cloetingh, president and chief executive officer of Signal Holdings said: "Assurant Solutions has been a great partner for nearly eight years, and we are looking forward to becoming part of the company. Assurant brings scale to the business, in terms of product innovation, marketing expertise and financial stability. That's essential to growing and establishing new client relationships in the wireless industry."

About Signal Holdings

Signal Holdings of Wayne, Pa. is a leading provider of wireless handset insurance, logistics, repair and asset recovery services. Its clients include leading companies in wireless communications. The 24-year-old company provides end-to-end service wireless handset protection programs, including insurance, extended service contracts, customer care, forward and reverse logistics, handset repair, asset recovery and wireless technical support.

Signal Holdings is led by Tom Cloetingh, president and chief executive officer, and his brother, Steve Cloetingh, executive vice president, who together founded the company in 1984. The three primary operating companies are The Signal LP, a licensed insurance agency; CWork Solutions LP, which handles logistics and repairs, and Telecom Re, a Bermuda reinsurance company. The company owns and operates call centers in Albany, Ore., and Wayne, Pa., and a logistics and repair facility in York, Pa.

About Assurant and Assurant Solutions

Assurant is a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses - Assurant Employee Benefits, Assurant Health, Assurant Solutions and Assurant Specialty Property - have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments worldwide.

Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $26 billion in assets and $8 billion in annual revenue. The Assurant Web site is http://www.assurant.com/ .

Assurant Solutions businesses develop, underwrite, market and administer specialty insurance, extended service contracts and other risk management solutions through collaborative relationships with leading financial institutions, retailers, automobile dealers, funeral homes, utilities and other entities. With operations in 24 cities, including executive offices in Atlanta, Ga., Assurant Solutions serves clients and their customers in 13 countries throughout North America, the Caribbean, Latin America, Europe and Asia. http://www.assurantsolutions.com/

Assurant, Inc.

CONTACT: James A. Sykes, Director of External Communications,
+1-770-763-1015, or (fax) +1-770-859-4325, or James.sykes@assurant.com; or
Melissa Kivett, Senior Vice President of Investor Relations, +1-212-859-7029,
or (fax) +1-212-859-5893, or melissa.kivett@assurant.com; or John Egan, Vice
President of Investor Relations, +1-212-859-7197, or (fax) +1-212-859-5893, or
john.egan@assurant.com, all of Assurant Solutions

Web site: http://www.assurant.com/
http://www.assurantsolutions.com/

Alcatel-Lucent Signs New Contract to Build the Atlantic-Mediterranean Segment of the Europe India Gateway Submarine Cable NetworkFirst Direct, High-Bandwidth Optical-Fiber Submarine Cable System From the United Kingdom to India

PARIS, July 31 /PRNewswire-FirstCall/ -- Alcatel-Lucent (Euronext Paris and NYSE: ALU) has signed a contract to deploy the Atlantic-Mediterranean segment of the 15,000 km (9,000 mile), Europe India Gateway (EIG) submarine cable system. EIG is the first direct, high-bandwidth optical-fiber submarine cable system from the United Kingdom to India, and will significantly enhance capacity and diversity between the countries and territories of three continents. With completion scheduled in the second quarter of 2010, EIG will deliver an ultimate capacity of up to 3.84 terabits per second (Tbps) to provide upgradeable transmission facilities that support Internet, e-commerce, video, data and voice services.

EIG was announced in May 2008 in London by the EIG Consortium. Currently EIG Consortium members include AT&T; Bharti Airtel; BT; C&W; Djibouti Telecom; du; Gibtelecom; Libyan Post, Telecom, and Information Technology Company (LPTIC); MTN Group Ltd; Omantel; PT Comunicacoes, S.A.; Saudi Telecom Company; Telecom Egypt; Telkom SA Ltd.; and Verizon Business. Alcatel-Lucent is one of two submarine cable network suppliers for the project, which has a total value of over USD 700 million.

EIG will connect three continents, with landings planned in the United Kingdom, Portugal, Gibraltar, Monaco, France, Libya, Egypt, Saudi Arabia, Djibouti, Oman, United Arab Emirates, and India. Providing much needed diversity for broadband traffic currently relying largely on traditional routes from Europe to India, EIG will also provide seamless interconnection with other major cable systems connecting Europe, Africa, Asia and North America.

Alcatel-Lucent will provide complete turnkey work for its portion of the EIG system. Alcatel-Lucent will have responsibility for the design, manufacture, installation and commissioning of the Atlantic-Mediterranean submarine segment, which spans 7,100 km. The company will also use the 1678 Metro Core Connect, and deploy its latest generation 1626 Light Manager (LM) DWDM (dense wavelength division multiplexing) transmission equipment to provide seamless connectivity across the two terrestrial links in the UK and Egypt at 40Gbit/s. The Alcatel-Lucent offering across the EIG system provides terabit transmission capabilities to accelerate the delivery of broadband services and applications.

"EIG utilises the most advanced submarine cable system technology to provide a high quality solution to help meet the continued growth of broadband adoption rates around the world," said Mr. John Russell, chairman of the EIG Consortium Management Committee. "Alcatel-Lucent's turnkey expertise and technological lead in the build of submarine networks will help us deliver a highly flexible and scalable infrastructure that will support the delivery of innovative applications across the regions."

"EIG further confirms the need for cable route diversity and enhanced capacity to meet end-users' demands for bandwidth to support broadband traffic," said Etienne Lafougere, President of Alcatel-Lucent's submarine network activity. "This new contract is recognition of the reliability of our submarine, terrestrial and network solutions, as well as of our end-to-end ability to provide every part of a global transport network."

About Alcatel-Lucent

Alcatel-Lucent (Euronext Paris and NYSE: ALU) provides solutions that enable service providers, enterprise and governments worldwide, to deliver voice, data and video communication services to end-users. As a leader in fixed, mobile and converged broadband networking, IP technologies, applications and services, Alcatel-Lucent offers the end-to-end solutions that enable compelling communications services for people at home, at work and on the move. With operations in more than 130 countries, Alcatel-Lucent is a local partner with global reach. The company has the most experienced global services team in the industry, and one of the largest research, technology and innovation organizations in the telecommunications industry. Alcatel-Lucent achieved revenues of Euro 17.8 billion in 2007 and is incorporated in France, with executive offices located in Paris. For more information, visit Alcatel-Lucent on the Internet: http://www.alcatel-lucent.com/

Alcatel-Lucent

CONTACT: Alcatel-Lucent Press Contacts, Regine Coqueran, Tel:
+33(0)1-40-76-49-24, regine.coqueran@alcatel-lucent.com; Mark Burnworth, Tel:
+32-3-240-38-81, mark.burnworth@alcatel-lucent.com; Alcatel-Lucent Investor
Relations, Remi Thomas, Tel: +33(0)1-40-76-50 61,
remi.thomas@alcatel-lucent.com; Tom Bevilacqua, Tel: +1-908-582-7998,
bevilacqua@alcatel-lucent.com; Tony Lucido, Tel: +33(0)1-40-76-49-80,
alucido@alcatel-lucent.com; Don Sweeney, Tel: +1-908-582-6153,
dsweeney@alcatel-lucent.com

Ness Technologies Acquires Czech IT Services Provider Logos

PRAGUE, July 31 /PRNewswire-FirstCall/ -- Ness Technologies, Inc. , a global provider of IT services and solutions, today announced that it has signed a share purchase agreement to acquire 100% of the shares of Logos a.s., a privately-held, Czech-based leading IT services and consulting company. For the fiscal year ended March 31, 2008, Logos generated revenues of EUR29.7 million and was profitable. Logos has approximately 570 employees.

Logos has been one of the fastest growing IT services and solutions providers in the Czech Republic. With a strong presence in the Czech financial and telecom sectors, Logos provides a variety of IT services including consulting, custom software development, testing and quality assurance, information systems analysis, outsourcing and staffing. Upon completion of the acquisition, Logos will be merged into Ness Czech.

"The acquisition of Logos strengthens our already significant leadership position in Central and Eastern Europe, one of our fastest growing and most profitable geographies," said Sachi Gerlitz, president and CEO of Ness Technologies. "Coupled with our very strong organic growth in the region, this deal positions us for greater penetration of this strategic market."

Logos complements the Ness service portfolio, with little overlap in services and customers. Ness Czech's strong position in the utilities, manufacturing and public sectors will be complemented by Logos' strong presence in the financial and telecom industries. On the technology side, the combined company will offer deep expertise and experienced teams in leading technologies, including Microsoft, SAP, Oracle, Documentum and IBM. By combining offerings, the merged Ness Czech will be able to provide its clients with an even broader range of services - within the Czech IT services market itself as well as across the Central and Eastern European IT services market. Logos' clients will also benefit from Ness' near-shore and offshore capabilities, including its software product development center in Kosice, Slovakia.

"We are delighted to join Ness Technologies and to become the major leader in the Czech IT services market," said Pavel Stovicek, chairman of the board of directors of Logos. "Together, we will continue in an approach based on very deep understanding of customers' needs. Our highly skilled team of consulting and IT professionals will join Ness Czech specialists, creating large multi-disciplinary teams that will provide best-of-breed services based on our combined experience in business and technology."

"We are pleased by the planned merger," said Mr. Vaclav Grepl, CIO of Komercni Banka, a member of Societe Generale Group. "We work successfully with both Ness Czech and Logos today as major vendors for application development, and we believe that we will benefit from the acquisition in several ways: through a broader technology portfolio, increased flexibility, the ability to handle larger engagements and also in more strategic positioning within our organization."

Logos' customer list includes prominent companies and organizations such as: Komercni Banka (a member of Societe Generale Group), GE Money, Raiffeiensen Bank, Ceska Sporitelna (a member of Erste Bank), CSOB (a member of the KBC Group), Telefonica 02, T-Mobile, DHL, Skoda Auto (part of the Volkswagen Group) and many others.

The acquisition, which is subject to customary closing conditions, is expected to close early in the fourth quarter of 2008. The acquisition is also subject to approval by the Czech Office for the Protection of Competition.

About Ness Technologies

Ness Technologies is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. The Ness portfolio of solutions and services consists of software product development, including both offshore and near-shore outsourcing; system integration, application development and consulting; and software distribution. With over 7,800 employees, Ness maintains operations in 18 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit http://www.ness.com/.

NESS Czech s.r.o., the Czech subsidiary of Ness Technologies, was established in 1990 as a Czech private company named APP and was acquired by Ness Technologies in 2002. Since its inception, Ness Czech has been a pioneer in introducing new technologies and software products to the Czech market, and today it is one of the largest providers of IT services in the Czech Republic. Currently, Ness Czech employs more than 400 people.

About Logos

Logos is a leading Czech provider of consulting and technology services. Through its innovative approach, Logos creates new opportunities for its customers and provides complex solutions specifically for the financial and telecommunications sectors. The company was founded in 1994 and currently employs more than 500 IT professionals. Logos has been named to Deloitte Fast 50 list of the fastest growing IT companies for seven consecutive years, was awarded the Progressive Employer award for 2006 and 2007 and was ranked as the Best Employer for 2008. For more information about Logos, visit http://www.logos.cz/.

Forward Looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often are preceded by words such as "believes," "expects," "may," "anticipates," "plans," "intends," "assumes," "will" or similar expressions. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Ness' actual results could differ materially from those anticipated in these forward looking statements as a result of various factors. Some of the factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in Ness' Annual Report of Form 10-K filed with the Securities and Exchange Commission on March 17, 2008. Ness is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of such changes, new information, subsequent events or otherwise.

Ness Technologies media contact: David Kanaan USA: +1-888-244-4919 Intl: +972-3-540-8188 Email: media.int@ness.com Ness Technologies investor contact: Drew Wright USA: +1-201-488-3262 Email: investor@ness.com

Ness Technologies Inc

CONTACT: Ness Technologies media contact: David Kanaan, USA:
+1-888-244-4919, Intl: +972-3-540-8188, Email: media.int@ness.com; Ness
Technologies investor contact: Drew Wright, USA: +1-201-488-3262, Email:
investor@ness.com

Iron Mountain Reports Second Quarter 2008 Financial Results- Revenue and OIBDA up 15% for Q2 driven by solid performance across business segments- Operating income increased 11% to $124 million; net income $0.18 per diluted share- Company announces positive revisions to full year guidance based on solid first half performance

BOSTON, July 31 /PRNewswire-FirstCall/ -- Iron Mountain Incorporated , the global leader in information protection and storage services, today announced its financial results for the quarter ended June 30, 2008, reporting strong revenue and operating income before depreciation and amortization (OIBDA) growth and earnings of $0.18 per diluted share.

Iron Mountain posted strong year-over-year revenue growth of 15% in the second quarter supported by internal growth of 9%, with acquisitions and favorable foreign currency changes contributing approximately 6% to total growth. The Company drove strong revenue gains across its North American Physical, International Physical and Worldwide Digital business segments. Total revenue growth was highlighted by continued strength in service revenue growth, supported by international gains and strong performance in the digital business. OIBDA of $197 million for the quarter exceeded the Company's forecasted range reflecting benefits from strong revenue growth and a 17% year-over-year increase in gross profit. Net income for the quarter was $36 million, or $0.18 per diluted share, and capital expenditures were in line with Company expectations for the quarter.

"We are pleased with our strong second quarter results and solid first half performance. We're driving solid growth across our business, reflecting our team's focus on disciplined execution in servicing our customers," said Bob Brennan, President and CEO. "We continue to advance our growth strategy, reflected in solid growth in service revenues, expansion of our international business and strong performance in our developing digital business."

Key Financial Highlights - Q2 2008

Iron Mountain's total consolidated revenues for the quarter grew 15% over the prior year period to $769 million driven by solid internal growth of 9% and augmented by several acquisitions completed in 2007, most notably ArchivesOne, Inc., RMS Services - USA, Inc. and Stratify, Inc. Storage internal growth of 8% was as expected. Core service internal revenue growth of 9% was supported by continued strength in shredding services and strong performance in the physical data protection business. Complementary service revenues posted 9% internal growth highlighted by strength in digital services, physical data protection and recycled paper revenues. See Appendix A at the end of this press release for a presentation of Selected Financial Data.

The Company posted a 17% increase in gross profits for the quarter driven primarily by strong revenue growth combined with real estate and productivity gains. Gross profit margin improved from 53.9% in the second quarter of 2007 to 54.9% in the second quarter of 2008 due to higher storage gross margins, increased recycled paper revenues and strength in the digital service businesses. These benefits more than offset the impact of the shift in revenue mix, as labor and transportation intensive services such as secure shredding and Document Management Solutions (DMS) grew faster than storage. OIBDA for the quarter grew 15% over the prior year period to $197 million, reflecting the Company's revenue performance and gross margin gains. Selling, general and administrative costs increased 20% in the quarter, ahead of revenue gains, reflecting impacts from integration of recent acquisitions and increased investments in security, new products and infrastructure enhancements initiated in 2007. The impact of these investments is expected to moderate later this year. See Appendix B at the end of this press release for a discussion of OIBDA and the required reconciliation to the appropriate GAAP measures.

Operating income for the second quarter of 2008 was $124 million, up 11% compared to the same period in 2007, as OIBDA gains were partially offset by increased depreciation and amortization expense, driven primarily by higher levels of capital expenditures in 2007 and acquisitions. Net income for the quarter was $36 million, or $0.18 per diluted share, including other expense, net of $4 million, or $0.01 per diluted share. The components of other expense, net, including the impact of foreign currency fluctuations are detailed in the table below.

The Company's effective tax rate for the quarter was 41.0%, including approximately 3% related to the net tax impact of discrete items, including the interest on its tax reserves. Based on the current view of its 2008 projected tax position, the Company expects its tax rate before the impact of any foreign currency rate fluctuations and other discrete items for 2008 to be approximately 38%. Included in the 38% rate for 2008 is approximately 2% resulting from the unbenefited net operating losses of certain start-up entities. Beyond 2008, we expect our tax rate before the impact of any foreign currency rate fluctuations and other discrete items to decrease over time to approximately 36%.

The Company's Free Cash Flow before Acquisitions and Discretionary Investments for the six months ended June 30, 2008 was $20 million reflecting higher capital expenditures as the higher 2007 year end accrual reversed into the first quarter and higher use of working capital compared to the same period in 2007. The use of working capital was driven by increased accounts receivable balances due to sales growth, and reductions in accounts payable and accrued expense balances due to the payment of annual bonuses, and the timing of normal payroll and accounts payable cycles relative to quarter end. See Appendix B at the end of this press release for a discussion of FCF and the required reconciliation to the appropriate GAAP measures.

Acquisitions

Iron Mountain's acquisition strategy focuses on acquiring attractive businesses that provide a strong platform for future growth by expanding the Company's geographic footprint and service offerings while enhancing its existing operations. Since the end of the first quarter, the Company completed two acquisitions, a records management business in North America and a DMS business in France, entered the Swiss market via a minority interest in a local records management business and acquired the remaining 29% minority interest in its Brazilian business. In addition, the Company divested itself of its North American commodity product sales business effective June 1, 2008. Consistent with its treatment of acquisitions, the Company will eliminate all revenues associated with its data products business from the calculation of its internal growth in 2008 and 2009. Adjusting for this divestiture had no impact on the Company's internal growth rates for its first quarter ended March 31, 2008.

Financial Performance Outlook

Iron Mountain is issuing its financial performance outlook for the third quarter ending September 30, 2008 and making positive revisions to its outlook for the full year ending December 31, 2008. This guidance is based on current expectations and does not include the potential impact of any future acquisitions. For the full year, the Company is targeting 12% to 13% revenue growth and 11% to 14% OIBDA growth, performance consistent with its long-term financial goals. Please note that targeted OIBDA growth excludes current and prior year impacts from asset dispositions. The Company's outlook for the full year ending December 31, 2008 set forth below includes the $3 million loss on asset write-offs reported year-to-date 2008 (dollars in millions):

Full Year Ending December 31, 2008 Quarter Ending September 30, 2008 Previous Current Low High Low High Low High Revenues $755 $775 $3,015 $3,080 $3,050 $3,090 Operating Income 119 129 474 499 478 498 Depreciation & Amortization ~75 ~292 ~295 Capital Expenditures 440 480 440 480 Internal Revenue Growth 7% 9% 7% 9%

Iron Mountain's conference call to discuss its second quarter 2008 financial results and third quarter and full year 2008 outlook will be held today at 11:00 a.m. Eastern Time. In order to further enhance the overall quality of its investor communications, the Company will simulcast the conference call on its Web site at http://www.ironmountain.com/, the content of which is not part of this earnings release. A slide presentation providing summary financial and statistical information that will be discussed on the conference call will also be posted to the Web site and available for real-time viewing. The slide presentation and replays of the conference call will be available on the Web site for future reference.

About Iron Mountain

Iron Mountain Incorporated helps organizations around the world reduce the costs and risks associated with information protection and storage. The Company offers comprehensive records management and data protection solutions, along with the expertise and experience to address complex information challenges such as rising storage costs, litigation, regulatory compliance and disaster recovery. Founded in 1951, Iron Mountain is a trusted partner to more than 100,000 corporate clients throughout North America, Europe, Latin America and Asia Pacific. For more information, visit the Company's Web site at http://www.ironmountain.com/.

Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and is subject to the safe-harbor created by such Act. Forward-looking statements include our 2008 financial performance outlook and statements regarding our goals, beliefs, future growth strategies, investments, objectives, plans and current expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those contemplated in the forward-looking statements. Such factors include, but are not limited to: (i) the cost to comply with current and future legislation, regulations and customer demands relating to privacy issues; (ii) the impact of litigation that may arise in connection with incidents in which we fail to protect the Company's customers' information; (iii) changes in the price for the Company's services relative to the cost of providing such services; (iv) changes in customer preferences and demand for the Company's services; (v) in the various digital businesses in which the Company is engaged, the cost of capital and technical requirements, demand for the Company's services or competition for customers; (vi) the Company's ability or inability to complete acquisitions on satisfactory terms and to integrate acquired companies efficiently; (vii) the cost or potential liabilities associated with real estate necessary for the Company's business; (viii) the performance of business partners upon whom the Company depends for technical assistance or management and acquisition expertise outside the United States; (ix) changes in the political and economic environments in the countries in which the Company's international subsidiaries operate; (x) claims that the Company's technology violates the intellectual property rights of a third party; (xi) other trends in competitive or economic conditions affecting Iron Mountain's financial condition or results of operations not presently contemplated; and (xii) other risks described more fully in the Company's most recently filed Annual Report on Form 10-K under "Item 1A. Risk Factors". Except as required by law, Iron Mountain undertakes no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Investor Relations Contact: Stephen P. Golden Vice President, Investor Relations sgolden@ironmountain.com (617) 535-2994 APPENDIX A Selected Financial Data: (dollars in millions, except per share data) Q2/2007 Q2/2008 Inc (Dec) Revenues $669 $769 15% Gross Profit (excluding D&A) $361 $422 17% Gross Margin % 53.9% 54.9% OIBDA $172 $197 15% OIBDA Margin % 25.7% 25.6% Operating Income $111 $124 11% Interest Expense, net $61 $60 (2)% Net Income $39 $36 (8)% EPS - Diluted $0.19 $0.18 Components of Other Income (Expense), net: Foreign Currency Exchange Gains (Losses) $ 4 $(4) Insurance Related Gains 3 -- Debt Extinguishment Charges (4) -- Q2/2008 YTD/2008 Components of Revenue Growth: Storage internal growth rate 8% 8% Service internal growth rate 9% 9% Total internal growth rate 9% 9% Impact of acquisitions 4% 5% Impact of foreign currency fluctuations 3% 3% Total revenue growth 15% 17% NOTE: Column may not foot due to rounding. APPENDIX B Operating Income Before Depreciation and Amortization

Iron Mountain uses Operating Income Before Depreciation and Amortization ("OIBDA"), an integral part of its planning and reporting systems, to evaluate the operating performance of the consolidated business. The Company uses multiples of current and projected OIBDA in conjunction with its discounted cash flow models to determine its overall enterprise valuation and to evaluate acquisition targets. The Company believes OIBDA and OIBDA Margin provide current and potential investors with relevant and useful information regarding its ability to generate cash flow to support business investment and its ability to grow revenues faster than operating expenses. OIBDA is not a measurement of financial performance under accounting principles generally accepted in the United States, or GAAP, and should not be considered as a substitute for operating or net income or cash flows from operating activities (as determined in accordance with GAAP).

Following is a reconciliation of operating income before depreciation and amortization to operating income and net income (in millions):

Three Months Ended Six Months Ended June 30, June 30, 2007 2008 2007 2008 OIBDA (Operating Income Before Depreciation and Amortization) $172 $197 $328 $373 Less: Depreciation and Amortization 60 73 117 142 Operating Income $111 $124 $211 $230 Less: Interest Expense, net 61 60 112 120 Other Income (Expense), net 3 (4) 11 3 Provision for Income Taxes 14 25 36 43 Minority Interest -- -- 1 -- Net Income $39 $36 $74 $69 NOTE: Columns may not foot due to rounding. Free Cash Flows Before Acquisitions and Discretionary Investments, or FCF

FCF is defined as Cash Flows From Operating Activities less capital expenditures (excluding real estate), net of proceeds from the sales of property and equipment and other, net, and additions to customer acquisition costs. Our management uses this measure when evaluating the operating performance and profitability of our consolidated business. FCF is a useful measure in determining our ability to generate cash flows in excess of our capital expenditures (both growth and maintenance) and our customer acquisition costs. As such, we believe this measure provides relevant and useful information to our current and potential investors. FCF should be considered in addition to, but not as a substitute for, other measures of financial performance reported in accordance with GAAP, such as cash flows from operating activities (as determined in accordance with GAAP).

Following is a reconciliation of Free Cash Flows Before Acquisitions and Discretionary Investments to Cash Flows from Operating Activities (in millions):

Six Months Ended June 30, 2007 2008 Free Cash Flows Before Acquisitions and Discretionary Investments $59 $20 Add: Capital Expenditures (excluding real estate), net 139 163 Additions to Customer Acquisition Costs 9 7 Cash Flows From Operating Activities $207 $190 NOTE: Columns may not foot due to rounding. Iron Mountain Incorporated Condensed Consolidated Statements of Operations (Amounts in Thousands except Per Share Data) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2007 2008 2007 2008 Revenues: Storage $368,679 $416,195 $720,844 $820,512 Service and Storage Material Sales 300,010 352,662 580,357 697,729 Total Revenues 668,689 768,857 1,301,201 1,518,241 Operating Expenses: Cost of Sales (Excluding Depreciation and Amortization) 307,963 346,971 602,968 694,722 Selling, General and Administrative 188,845 225,932 369,350 448,160 Depreciation and Amortization 60,290 72,907 117,462 142,437 Loss (Gain) on Disposal/ Writedown of Property, Plant and Equipment, Net 357 (839) 394 2,706 Total Operating Expenses 557,455 644,971 1,090,174 1,288,025 Operating Income 111,234 123,886 211,027 230,216 Interest Expense, Net 61,222 59,757 111,557 119,776 Other (Income) Expense, Net (3,235) 3,532 (10,958) (2,503) Income Before Provision for Income Taxes and Minority Interest 53,247 60,597 110,428 112,943 Provision for Income Taxes 14,024 24,859 36,107 43,131 Minority Interest in Earnings of Subsidiaries, net 171 (148) 562 444 Net Income $39,052 $35,886 $73,759 $69,368 Net Income Per Share - Basic $ 0.20 $ 0.18 $ 0.37 $ 0.35 Net Income Per Share - Diluted $ 0.19 $ 0.18 $ 0.37 $ 0.34 Weighted Average Common Shares Outstanding - Basic 199,792 200,855 199,511 200,863 Weighted Average Common Shares Outstanding - Diluted 201,742 203,038 201,579 203,229 Operating Income before Depreciation and Amortization $171,524 $196,793 $328,489 $372,653 Iron Mountain Incorporated Condensed Consolidated Balance Sheets (Amounts in Thousands) (Unaudited) December 31, June 30, 2007 2008 ASSETS Current Assets: Cash and Cash Equivalents $125,607 $203,197 Accounts Receivable (less allowances of $19,246 and $19,954, respectively) 564,049 603,419 Other Current Assets 132,740 148,533 Total Current Assets 822,396 955,149 Property, Plant and Equipment: Property, Plant and Equipment at Cost 3,522,525 3,672,255 Less: Accumulated Depreciation (1,186,564) (1,300,916) Property, Plant and Equipment, net 2,335,961 2,371,339 Other Assets: Goodwill, net 2,574,292 2,583,428 Other Non-current Assets, net 575,272 598,694 Total Other Assets 3,149,564 3,182,122 Total Assets $6,307,921 $6,508,610 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Current Portion of Long-term Debt $33,440 $98,839 Other Current Liabilities 732,237 656,769 Total Current Liabilities 765,677 755,608 Long-term Debt, Net of Current Portion 3,232,848 3,318,950 Other Long-term Liabilities 504,852 529,440 Minority Interests 9,089 4,270 Stockholders' Equity 1,795,455 1,900,342 Total Liabilities and Stockholders' Equity $6,307,921 $6,508,610

Iron Mountain Incorporated

CONTACT: Stephen P. Golden, Vice President, Investor Relations,
+1-617-535-2994, sgolden@ironmountain.com

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

Tyco International Reports Third Quarter Earnings From Continuing Operations of $0.88 Per Share Before Special Items and GAAP Earnings of $0.41 Per Share

PEMBROKE, Bermuda, July 31 /PRNewswire-FirstCall/ --

($ millions, except per-share amounts) Q3 2008 Q3 2007 % Change Revenue $5,215 $4,702 11% Income from Continuing Operations $199 ($3,054) Diluted EPS from Continuing Operations $0.41 ($6.17) Special Items Per Share After Tax $0.47 $6.68 -- Income from Continuing Operations Before Special Items $429 $254 69% Diluted EPS from Continuing Operations Before Special Items $0.88 $0.51 73% -- Revenue increased 11% with organic revenue growth of 6.2% -- Company achieved operating margin of 11.1% and operating margin before special items of 12.1% -- Company raises guidance for full year 2008 to a range of $2.97 to $2.99 for diluted EPS from continuing operations before special items -- Company continues to make progress in refining its portfolio -- Company completed $1 billion share repurchase program; new $1 billion program recently announced

Tyco International Ltd. today reported $0.41 in diluted earnings per share (EPS) from continuing operations for the fiscal third quarter of 2008 and diluted EPS from continuing operations before special items of $0.88. Diluted EPS from continuing operations was negatively impacted by special items of $0.47 per share primarily for separation-related items and restructuring activities. Diluted EPS from continuing operations before special items increased 73%. Revenue increased 11% versus the prior year to $5.2 billion, with organic revenue growth of 6.2%. The company's operating margin was 11.1% and the operating margin before special items was 12.1%.

Tyco Chairman and Chief Executive Officer Ed Breen said, "This was a solid quarter with improved revenue growth and strong operating margin performance across Tyco. Based on the strength of these results and our outlook for the fourth quarter, we are raising our full year earnings guidance. We continued to make progress in refining our portfolio, including acquisitions that will strengthen our product and service offerings. We also announced a new $1 billion share repurchase program as part of our strategy to return a portion of our excess cash to shareholders. These actions, combined with the progress we are making on a number of our strategic objectives, position Tyco for a strong finish to the year."

The company now expects full-year fiscal 2008 diluted earnings per share from continuing operations before special items to be in the range of $2.97 to $2.99 per share from the previous range of $2.65 to $2.75.

As part of its portfolio refinement activities, Tyco completed the acquisition of FirstService Security to strengthen ADT's systems integration capabilities in North America. The company also announced the acquisition of two Sensormatic franchises and agreed to purchase IntelliVid, a leading developer of advanced video analytics. Tyco also is making progress in divesting certain non-core businesses and to date in fiscal 2008 has received $1 billion in proceeds from divestitures including the majority of its Infrastructure Services Business, Ancon Building Products and Nippon Dry Chemical.

Organic revenue growth, free cash flow, operating income before special items, operating margin before special items, income from continuing operations before special items and diluted EPS from continuing operations before special items are all non-GAAP financial measures and are described below. For a reconciliation of these non-GAAP measures, see the attached tables. Additional schedules can be found at http://www.tyco.com/ on the Investor Relations portion of Tyco's website.

SEGMENT RESULTS

The financial results presented in the tables below are in accordance with GAAP unless otherwise indicated. All dollar amounts are pre-tax and stated in millions. All comparisons are to the fiscal third quarter of 2007 unless otherwise indicated.

ADT Worldwide Q3 2008 Q3 2007 % Change Revenue $2,000 $1,909 5% Operating Income $239 $205 17% Operating Margin 12.0% 10.7% Special Items $31 $57 Operating Income Before Special Items $270 $262 3% Operating Margin Before Special Items 13.5% 13.7%

Revenue increased 5% with organic revenue growth of 2%. Recurring revenue grew 5% organically and improved across all regions. Systems installation and service revenue declined 1% organically mostly due to weakness in the retailer end market. This was partially offset by strong double-digit organic growth in other international markets.

Operating income was $239 million and the operating margin was 12.0%. Special items consisted of $31 million of restructuring charges. Operating income before special items was $270 million and the operating margin before special items was 13.5%.

Flow Control Q3 2008 Q3 2007 % Change Revenue $1,132 $982 15% Operating Income $152 $124 23% Operating Margin 13.4% 12.6% Special Items $3 $2 Operating Income Before Special Items $155 $126 23% Operating Margin Before Special Items 13.7% 12.8%

Revenue increased 15% with organic revenue growth of 5.3% driven by continued strong growth in the Valves business which grew 10% organically and the Thermal Controls business which grew 15% organically. In the Water business, organic revenue declined 7%, primarily due to reduced water pipeline project activity in Australia compared to the year ago quarter.

Operating income was $152 million and the operating margin was 13.4%. Operating income before special items increased 23% to $155 million and the operating margin before special items was 13.7%. The increase in the operating income and the operating margin before special items was due to higher revenue and improved productivity.

Fire Protection Services Q3 2008 Q3 2007 % Change Revenue $919 $848 8% Operating Income $97 $58 67% Operating Margin 10.6% 6.8% Special Items -- $13 Operating Income Before Special Items $97 $71 37% Operating Margin Before Special Items 10.6% 8.4%

Revenue increased 8% with organic revenue growth of 4%. The North American SimplexGrinnell business grew 8% organically while the international fire businesses declined slightly due to the planned exit of certain non-core activities in Latin America and Asia.

Operating income was $97 million and the operating margin was 10.6%. The operating margin before special items increased 220 basis points mostly due to solid margin improvement in SimplexGrinnell related to higher revenue and better productivity. The international fire businesses also contributed to the operating margin improvement due to better productivity and increased service mix.

Electrical and Metal Products Q3 2008 Q3 2007 % Change Revenue $652 $519 26% Operating Income $141 $47 200% Operating Margin 21.6% 9.1% Special Items $5 -- Operating Income Before Special Items $146 $47 211% Operating Margin Before Special Items 22.4% 9.1%

Revenue increased 26% with organic revenue growth of 23%. The increase in revenue was mostly driven by better pricing for steel tubular products. Operating income was $141 million and the operating margin was 21.6%. Operating income before special items of $146 million improved primarily due to better metal spreads and continued improvement in manufacturing efficiencies.

Safety Products Q3 2008 Q3 2007 % Change Revenue $511 $442 16% Operating Income $79 $72 10% Operating Margin 15.5% 16.3% Special Items $12 $8 Operating Income Before Special Items $91 $80 14% Operating Margin Before Special Items 17.8% 18.1%

Revenue increased 16% with organic revenue growth of 11% driven primarily by strength in the fire suppression and life safety businesses.

Operating income was $79 million and the operating margin was 15.5%. Operating income before special items increased 14% to $91 million and the operating margin before special items was 17.8%. The improvement in operating income before special items was primarily due to higher volume and improved productivity offset by increased investment in R&D and sales and marketing.

OTHER ITEMS

-- Cash from operating activities was $712 million and free cash flow was $446 million. This included cash payments of $81 million primarily for restructuring and legacy litigation payments.

-- The $330 million of pre-tax charges for special items ($0.47 per share) consisted primarily of $275 million for separation-related activities including the early retirement of debt and $53 million for restructuring activities.

-- Corporate expense was $131 million in the quarter and included a net charge of $4 million for special items.

-- Net interest expense of $75 million included $17 million of separation- related expenses.

-- The GAAP tax rate for the quarter was 18.4% and was positively impacted by 6.8 percentage points related to the tax treatment of special items.

-- The company announced a new $1 billion share repurchase program on July 10, 2008. A previous $1 billion program announced in September 2007 concluded earlier this month. The company repurchased 24.3 million shares under that program, representing approximately 5% of total shares outstanding.

-- Diluted EPS from discontinued operations of $0.57 per share in the third quarter consisted primarily of gains from the sale of a Brazilian subsidiary of the Infrastructure Services Business and Ancon Building Products.

ABOUT TYCO INTERNATIONAL

Tyco International Ltd. is a diversified, global company that provides vital products and services to customers in more than 60 countries. Tyco is a leading provider of security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Tyco had 2007 annual revenues of more than $18 billion and 118,000 employees worldwide. More information on Tyco can be found at http://www.tyco.com/.

CONFERENCE CALL AND WEBCAST

Management will discuss the company's third quarter results and outlook for the fiscal fourth quarter during a conference call and webcast for investors today beginning at 8:30 a.m. ET. Today's conference call can be accessed in the following ways:

-- At Tyco's website: http://investors.tyco.com/.

-- By telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the telephone dial-in number in the United States is (888) 455-5685. The telephone dial-in number for participants outside the United States is (773) 799-3896. The passcode for the call is TYCO.

-- An audio replay of the conference call will be available beginning at 11:00 a.m. on July 31, 2008 and ending at 10:59 p.m. on August 7, 2008. The dial-in number for participants in the United States is (800) 570-8795. For participants outside the United States, the replay dial-in number is (402) 220-2264.

NON-GAAP MEASURES

"Organic revenue growth," "free cash flow" (FCF), "operating income before special items", "earnings per share (EPS) from continuing operations before special items" and "operating margin before special items" are non-GAAP measures and should not be considered replacements for GAAP results.

Organic revenue growth is a useful measure used by the company to measure the underlying results and trends in the business. The difference between reported net revenue growth (the most comparable GAAP measure) and organic revenue growth (the non-GAAP measure) consists of the impact from foreign currency, acquisitions and divestitures, and other changes that do not reflect the underlying results and trends (for example, revenue reclassifications and changes to the fiscal year). Organic revenue growth is a useful measure of the company's performance because it excludes items that: i) are not completely under management's control, such as the impact of foreign currency exchange; or ii) do not reflect the underlying growth of the company, such as acquisition and divestiture activity. It may be used as a component of the company's compensation programs. The limitation of this measure is that it excludes items that have an impact on the company's revenue. This limitation is best addressed by using organic revenue growth in combination with the GAAP numbers. See the accompanying tables to this press release for the reconciliation presenting the components of organic revenue growth.

FCF is a useful measure of the company's cash which is free from any significant existing obligation. The difference between cash flows from operating activities (the most comparable GAAP measure) and FCF (the non-GAAP measure) consists mainly of significant cash outflows that the company believes are useful to identify. FCF permits management and investors to gain insight into the number that management employs to measure cash that is free from any significant existing obligation. It, or a measure that is based on it, may be used as a significant component in the company's incentive compensation plans. The difference reflects the impact from:

-- the sale of accounts receivable programs, -- net capital expenditures, -- accounts purchased from ADT dealer network, -- cash paid for purchase accounting and holdback liabilities, and -- voluntary pension contributions.

The impact from the sale of accounts receivable programs and voluntary pension contributions are added or subtracted from the GAAP measure because this activity is driven by economic financing decisions rather than operating activity. Capital expenditures and the ADT dealer program are subtracted because they represent long-term commitments. Cash paid for purchase accounting and holdback liabilities is subtracted from Cash Flow from Operating Activities because these cash outflows are not available for general corporate uses.

The limitation associated with using FCF is that it subtracts cash items that are ultimately within management's and the Board of Directors' discretion to direct and therefore may imply that there is less or more cash that is available for the company's programs than the most comparable GAAP measure. This limitation is best addressed by using FCF in combination with the GAAP cash flow numbers.

FCF as presented herein may not be comparable to similarly titled measures reported by other companies. The measure should be used in conjunction with other GAAP financial measures. Investors are urged to read the company's financial statements as filed with the Securities and Exchange Commission, as well as the accompanying tables to this press release that show all the elements of the GAAP measures of Cash Flows from Operating Activities, Cash Flows from Investing Activities, Cash Flows from Financing Activities and a reconciliation of the company's total cash and cash equivalents for the period. See the accompanying tables to this press release for a cash flow statement presented in accordance with GAAP and a reconciliation presenting the components of FCF.

The company has presented its operating income from continuing operations, operating income and operating margin before special items and EPS from continuing operations before special items, and forecast its EPS from continuing operations before special items. Special Items include charges and gains related to divestitures, acquisitions, restructurings (including transaction costs related to the separations of Tyco Electronics and Tyco Healthcare into separate public companies), and other income or charges that may mask the underlying operating results and/or business trends of the company or business segment, as applicable. The company utilizes income from continuing operations, EPS and operating income and margin, in each case before special items to assess overall operating performance, segment level core operating performance and to provide insight to management in evaluating overall and segment operating plan execution and underlying market conditions. They may be used as significant components in the company's incentive compensation plans. Operating income, operating margin, income from continuing operations before special items and EPS before special items are useful measures for investors because they permit more meaningful comparisons of the company's underlying operating results and business trends between periods. EPS before special items does not reflect any additional adjustments that are not reflected in income from continuing operations before special items. The difference between income from continuing operations before special items and operating income and margin before special items versus income from continuing operations, operating income and operating margin (the most comparable GAAP measures) consists of the impact of charges and gains related to divestitures, acquisitions, restructurings (including transaction costs related to the separations of Tyco Electronics and Tyco Healthcare into separate public companies), and other income or charges that may mask the underlying operating results and/or business trends. The limitation of these measures is that they exclude the impact (which may be material) of items that increase or decrease the company's reported operating income from continuing operations, EPS and operating income and margin. This limitation is best addressed by using operating income and operating margin before special items in combination with the most comparable GAAP measures in order to better understand the amounts, character and impact of any increase or decrease on reported results.

The company presents its EPS forecast before special items to give investors a perspective on the underlying business results. Because the company often cannot predict the amount and timing of unusual or special items and associated charges or gains that may be recorded in the company's financial statements, it does not present forecasts that include the impact of those items. See the accompanying tables to this press release for the reconciliation presenting the components of operating income before special items.

FORWARD-LOOKING STATEMENTS

This release may contain certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. The forward-looking statements in this release include statements addressing the company's future financial condition and operating results, as well as its portfolio refinement activities. Economic, business, competitive and/or regulatory factors affecting Tyco's businesses are examples of factors, among others, that could cause actual results to differ materially from those described in the forward-looking statements. Tyco is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward- looking statements whether as a result of new information, future events or otherwise. More detailed information about these and other factors is set forth in Tyco's Annual Report on Form 10-K for the fiscal year ended Sept. 28, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended March 28, 2008.

TYCO INTERNATIONAL LTD. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share data) (Unaudited) Quarter Ended Nine Months Ended June 27, June 29, June 27, June 29, 2008 2007 2008 2007 Net revenue $5,215 $4,702 $14,915 $13,525 Cost of sales 3,364 3,104 9,706 8,943 Selling, general and administrative expenses 1,234 1,184 3,605 3,558 Class action settlement, net (7) 2,875 (7) 2,875 Separation costs - 28 4 85 Goodwill Impairment - 46 - 46 Restructuring, asset impairment and divestiture charges, net 47 46 95 147 Operating income (loss) 577 (2,581) 1,512 (2,129) Interest income 16 29 99 54 Interest expense (91) (78) (323) (208) Other expense, net (257) (259) (205) (257) Income (loss) from continuing operations before income taxes and minority interest 245 (2,889) 1,083 (2,540) Income taxes (45) (163) (249) (190) Minority interest (1) (2) (3) (3) Income (loss) from continuing operations 199 (3,054) 831 (2,733) Income (loss) from discontinued operations, net of income taxes 277 (497) 288 810 Net income (loss) $476 $(3,551) $1,119 $(1,923) Basic earnings per common share: Income (loss) from continuing operations $0.41 $(6.17) $1.71 $(5.53) Income (loss) from discontinued operations 0.58 (1.01) 0.59 1.64 Net income (loss) $0.99 $(7.18) $2.30 $(3.89) Diluted earnings per common share: Income (loss) from continuing operations $0.41 $(6.17) $1.70 $(5.53) Income (loss) from discontinued operations 0.57 (1.01) 0.58 1.64 Net income (loss) $0.98 $(7.18) $2.28 $(3.89) Weighted-average number of shares outstanding: Basic 482 495 487 495 Diluted 486 495 491 495 NOTE: These financial statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes contained in the Company's Annual Report on Form 10-K for the fiscal year ended September 28, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended March 28, 2008. TYCO INTERNATIONAL LTD. RESULTS OF SEGMENTS (in millions) (Unaudited) Quarter Ended June 27, June 29, 2008 2007 NET REVENUE ADT Worldwide $2,000 $1,909 Flow Control 1,132 982 Fire Protection Services 919 848 Electrical and Metal Products 652 519 Safety Products 511 442 Corporate and Other 1 2 Total Net Revenue $5,215 $4,702 OPERATING INCOME AND MARGIN ADT Worldwide $239 12.0% $205 10.7% Flow Control 152 13.4% 124 12.6% Fire Protection Services 97 10.6% 58 6.8% Electrical and Metal Products 141 21.6% 47 9.1% Safety Products 79 15.5% 72 16.3% Corporate and Other (131) N/M (3,087) N/M Operating Income (Loss) and Margin $577 11.1% $(2,581) -54.9% TYCO INTERNATIONAL LTD. RESULTS OF SEGMENTS (in millions) (Unaudited) Nine Months Ended June 27, June 29, 2008 2007 NET REVENUE ADT Worldwide $5,965 $5,659 Flow Control 3,230 2,695 Fire Protection Services 2,609 2,455 Electrical and Metal Products 1,681 1,441 Safety Products 1,427 1,272 Corporate and Other 3 3 Total Net Revenue $14,915 $13,525 OPERATING INCOME AND MARGIN ADT Worldwide $710 11.9% $601 10.6% Flow Control 466 14.4% 334 12.4% Fire Protection Services 247 9.5% 178 7.3% Electrical and Metal Products 254 15.1% 114 7.9% Safety Products 219 15.3% 209 16.4% Corporate and Other (384) N/M (3,565) N/M Operating Income (Loss) and Margin $1,512 10.1% $(2,129) -15.7% TYCO INTERNATIONAL LTD. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions) (Unaudited) June 27, March 28, September 28, 2008 2008 2007 Current Assets: Cash and cash equivalents $1,342 $1,074 $1,894 Accounts receivable, net 3,207 3,092 2,900 Inventories 1,996 1,995 1,783 Class action settlement escrow - - 2,992 Other current assets 1,692 1,744 1,615 Assets held for sale 1,112 1,268 1,370 Total current assets 9,349 9,173 12,554 Property, plant and equipment, net 3,617 3,597 3,526 Goodwill 11,763 11,801 11,514 Intangible assets, net 2,611 2,596 2,653 Other assets 2,729 2,707 2,568 Total Assets $30,069 $29,874 $32,815 Current Liabilities: Short-term debt and current maturities of long-term debt $539 $525 $380 Accounts payable 1,555 1,490 1,637 Class action settlement liability - - 2,992 Accrued and other current liabilities 3,256 3,299 3,452 Liabilities held for sale 586 591 666 Total current liabilities 5,936 5,905 9,127 Long-term debt 4,070 3,977 4,082 Other liabilities 3,948 3,963 3,915 Total Liabilities 13,954 13,845 17,124 Minority interest 58 55 67 Shareholders' equity 16,057 15,974 15,624 Total Liabilities and Shareholders' Equity $30,069 $29,874 $32,815 NOTE: These financial statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes contained in the Company's Annual Report on Form 10-K for the fiscal year ended September 28, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended March 28, 2008. TYCO INTERNATIONAL LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) (Unaudited) Quarter Ended Nine Months Ended June 27, June 29, June 27, June 29, 2008 2007 2008 2007 Cash Flows from Operating Activities: Net income $476 $(3,551) $1,119 $(1,923) (Income) loss from discontinued operations (277) 497 (288) (810) Income from continuing operations 199 (3,054) 831 (2,733) Adjustments to reconcile net cash provided by operating activities: Depreciation and amortization 288 275 854 867 Non-cash compensation expense 21 40 78 121 Deferred income taxes (10) 19 (115) (74) Provision for losses on accounts receivable and inventory 38 18 99 62 Loss on the retirement of debt 258 259 258 259 Goodwill impairment - 46 - 46 Other non-cash items 33 17 76 35 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: Accounts receivable, net (135) (141) (243) (208) Inventories (24) 14 (173) (266) Other current assets 33 (62) 9 101 Accounts payable 71 (32) (135) (83) Accrued and other liabilities (33) (145) (357) (195) Class action settlement liability - 2,972 (3,020) 2,972 Income taxes, net (32) (198) (8) (230) Other 5 72 (62) 137 Net cash provided by (used in) operating activities 712 100 (1,908) 811 Net cash (used in) provided by discontinued operating activities (29) 793 (25) 2,490 Cash Flows from Investing Activities: Capital expenditures (190) (172) (545) (471) Proceeds from disposal of assets 4 4 14 14 Acquisition of businesses, net of cash acquired (65) (10) (92) (26) Accounts purchased from ADT dealer network (82) (97) (269) (273) Liquidation of rabbi trust investments - - - 271 Class action settlement escrow - (2,960) 2,960 (2,960) Other 25 (7) 15 37 Net cash (used in) provided by investing activities (308) (3,242) 2,083 (3,408) Net cash provided by (used in) discontinued investing activities 466 (287) 479 (792) Cash Flows from Financing Activities: Net repayments of debt (240) (6,120) (200) (5,927) Proceeds from exercise of share options 19 176 40 388 Dividends paid (73) (396) (221) (791) Repurchase of common shares by subsidiary (279) - (756) (668) Transfers from discontinued operations 439 7,569 458 8,652 Other 2 8 (68) 21 Net cash (used in) provided by financing activities (132) 1,237 (747) 1,675 Net cash (used in) provided by discontinued financing activities (437) 62 (454) (1,016) Effect of currency translation on cash (4) 18 20 39 Effect of currency translation on cash of discontinued operations - 14 - 33 Net increase (decrease) in cash and cash equivalents 268 (1,305) (552) (168) Less: net increase in cash related to discontinued operations - (582) - (715) Cash and cash equivalents at beginning of period 1,074 3,197 1,894 2,193 Cash and cash equivalents at end of period $1,342 $1,310 $1,342 $1,310 Reconciliation to "Free Cash Flow": Net cash provided by (used in) operating activities $712 $100 $(1,908) $811 Decrease in sale of accounts receivable 2 3 12 6 Capital expenditures, net (186) (168) (531) (457) Accounts purchased from ADT dealer network (82) (97) (269) (273) Purchase accounting and holdback liabilities - (1) (2) (5) Voluntary pension contributions - 5 1 23 Free Cash Flow $446 $(158) $(2,697) $105 NOTE: Free cash flow is a non-GAAP measure. See description of non-GAAP measures contained in this release. TYCO INTERNATIONAL LTD. ORGANIC REVENUE GROWTH RECONCILIATION (in millions) (Unaudited) Quarter Ended June 27, 2008 Foreign Net Revenue Currency Other ADT Worldwide $2,000 4.8% $55 2.9% $1 0.1% Flow Control 1,132 15.3% 93 9.5% 5 0.5% Fire Protection Services 919 8.4% 35 4.2% - 0.0% Electrical and Metal Products 652 25.6% 12 2.3% - 0.0% Safety Products 511 15.6% 22 5.0% (1) -0.3% Corporate and Other 1 -50.0% - 0.0% - 0.0% Total Net Revenue $5,215 10.9% $217 4.6% $5 0.1% Net Revenue for the Quarter Ended Organic Revenue June 29, Growth 2007 ADT Worldwide $35 1.8% $1,909 Flow Control 52 5.3% 982 Fire Protection Services 36 4.2% 848 Electrical and Metal Products 121 23.3% 519 Safety Products 48 10.9% 442 Corporate and Other (1) -50.0% 2 Total Net Revenue $291 6.2% $4,702 Nine Months Ended June 27, 2008 Foreign Net Revenue Currency Other ADT Worldwide $5,965 5.4% $209 3.7% $(20) -0.4% Flow Control 3,230 19.9% 270 10.0% 3 0.2% Fire Protection Services 2,609 6.3% 114 4.7% - 0.0% Electrical and Metal Products 1,681 16.7% 34 2.4% - 0.0% Safety Products 1,427 12.2% 67 5.3% (2) -0.2% Corporate and Other 3 0.0% - 0.0% - 0.0% Total Net Revenue $14,915 10.3% $694 5.1% $(19) -0.1% Net Revenue for the Nine Months Ended Organic Revenue June 29, Growth 2007 ADT Worldwide $117 2.1% $5,659 Flow Control 262 9.7% 2,695 Fire Protection Services 40 1.6% 2,455 Electrical and Metal Products 206 14.3% 1,441 Safety Products 90 7.1% 1,272 Corporate and Other - 0.0% 3 Total Net Revenue $715 5.3% $13,525 NOTE: Organic revenue growth is a non-GAAP measure. See description of non-GAAP measures contained in this release. TYCO INTERNATIONAL LTD. EARNINGS PER SHARE SUMMARY (Unaudited) Year Quarter Ended Ended Dec. 29, March 30, June 29, Sept. 28, Sept. 28, 2006 2007 2007 2007 2007 Diluted EPS from Continuing Operations $0.31 $0.33 ($6.17) $0.42 ($5.10) Restructuring charges in cost of sales and SG&A - 0.00 0.00 0.01 0.01 Class action settlement, net - - 5.83 (0.02) 5.81 Separation costs 0.07 0.10 0.69 0.08 0.93 Losses on divestitures - 0.00 0.00 - (0.00) Restructuring and asset impairment charges, net 0.10 0.02 0.07 0.07 0.26 Goodwill impairment - - 0.09 - 0.09 Tax items - (0.12) - - (0.12) Voluntary Replacement Program - - - 0.01 0.01 Reserve Adjustment - - - - - Legacy Legal Settlement - - - - - Diluted EPS from Continuing Operations Before Special Items $0.48 $0.33 $0.51 $0.57 $1.89 Year to Quarter Ended Date Dec. 28, March 28, June 27, June 27, 2007 2008 2008 2008 Diluted EPS from Continuing Operations $0.72 $0.56 $0.41 $1.70 Restructuring charges in cost of sales and SG&A 0.01 0.01 0.01 0.02 Class action settlement, net - - (0.01) (0.01) Separation costs (0.08) 0.01 0.39 0.32 Losses on divestitures - - 0.00 - Restructuring and asset impairment charges, net 0.02 0.06 0.06 0.14 Goodwill impairment - - - - Tax items 0.04 0.00 - 0.04 Voluntary Replacement Program - - - - Reserve Adjustment - (0.01) - (0.01) Legacy Legal Settlement - 0.04 0.02 0.06 Diluted EPS from Continuing Operations Before Special Items $0.71 $0.67 $0.88 $2.26 TYCO INTERNATIONAL LTD. FOR THE QUARTER ENDED JUNE 27, 2008 (in millions, except per share data) (Unaudited) Fire Electrical Corp- ADT Flow Protection & Metal Safety orate Worldwide Control Services Products Products & Other Revenue Revenue $2,000 $1,132 $919 $652 $511 $1 $5,215 Fire Electrical Corp- Oper- ADT Flow Protection & Metal Safety orate ating Worldwide Control Services Products Products & Other Income Operating Income $239 $152 $97 $141 $79 ($131) $577 Restructuring charges in cost of sales and SG&A 2 (1) 2 3 6 Class action settlement, net (7) (7) Separation costs Losses on divestitures 1 1 Restructuring and asset impairment charges, net 31 1 1 3 9 1 46 Goodwill impairment Tax items Voluntary Replacement Program Reserve Adjustment Legacy Legal Settlement 9 9 Operating Income Before Special Items $270 $155 $97 $146 $91 ($127) $632 Diluted Income EPS Interest Other from from Expense, Expense, Income Minority Continuing Continuing net net Taxes Interest Operations Operations Operating Income ($75) ($257) ($45) ($1) $199 $0.41 Restructuring charges in cost of sales and SG&A (1) 5 0.01 Class action settlement, net (7) (0.01) Separation costs 17 258 (83) 192 0.39 Losses on divestitures 1 0.00 Restructuring and asset impairment charges, net (16) 30 0.06 Goodwill impairment Tax items Voluntary Replacement Program Reserve Adjustment Legacy Legal Settlement 9 0.02 Operating Income Before Special Items ($58) $1 ($145) ($1) $429 $0.88 Diluted Shares Outstanding 486 Diluted Shares Outstanding - Before Special Items 486

Tyco International Ltd.

CONTACT: News Media, Paul Fitzhenry, +1-609-720-4261, or Investor
Relations, Ed Arditte, +1-609-720-4621, or Antonella Franzen, +1-609-720-4665,
all of Tyco International Ltd.

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

Incentra Solutions Reports 2008 Second Quarter, Six-Month ResultsTotal Quarterly Revenue Up 92% Year-over-Year; Services Revenue Grew 42%; Product Revenue Rose 103%; Fourth Consecutive Quarter of Operating Profit

BOULDER, Colo., July 31 /PRNewswire-FirstCall/ -- Incentra Solutions, Inc. (BULLETIN BOARD: ICNS) , a provider of complete IT services and solutions to enterprises and managed service providers in North America and Europe, today announced strong year-over-year growth in revenues and operating profit for its second quarter and first six months ended June 30, 2008.

Driven by a 42 percent increase in Services revenue and a 103 percent increase in Product revenue, total revenue in the 2008 second quarter increased 92 percent to $59.2 million, up from $30.8 million in the 2007 second quarter. Services revenue in this year's second quarter was $7.6 million and Product revenue was $51.6 million, up from $5.4 million and $25.4 million, respectively, in the prior year quarter. Total revenue for this year's second quarter was up 23 percent sequentially from $48.2 million in the 2008 first quarter.

For the first six months of 2008, total revenue increased 93 percent to $107.5 million from $55.8 million in the year-earlier period. Services revenue for the first six months of 2008 increased 49 percent to $14.7 million and Product revenue grew 102 percent to $92.8 million, up from $9.9 million and $45.9 million, respectively, in the first six months of 2007. The 2008 second quarter and first six months included revenue from the acquisitions of Helio Solutions (Helio) and Sales Strategies, Inc (SSI), which were both completed late in the third quarter of 2007.

Chairman and CEO Thomas P. Sweeney said that Incentra reported its fourth consecutive quarter of operating profit in this year's second quarter with strong year-over-year increases in both the second quarter and first six months of 2008.

Operating profit in the 2008 second quarter was $1.4 million, up from an operating loss of $0.8 million in last year's second quarter. For the first six months of 2008, operating profit grew to $1.7 million compared to an operating loss of $1.2 million in the year-earlier period.

"We experienced solid financial and operational gains in virtually every phase of our business during the first half of this year," Sweeney added. "While product revenue growth is in large part due to acquisitions completed in the second half of 2007, our strong growth in services revenues and the increase in operating profit is a direct result of the operational synergies associated with our ability to deliver a broader technology portfolio and higher margin professional services and managed services."

Chief Financial Officer Anthony DiPaolo said, "SG&A costs as a percentage of revenue declined as we continued our efforts to fine tune our operations to match our business model. This has had a positive impact on bottom-line results. SG&A costs, excluding non-cash items, were 17.5 percent and 18.2 percent of revenue, respectively, for the second quarter and first six months of 2008, down from 23 percent and 24.8 percent, respectively, in the year- earlier periods."

Net loss applicable to common shareholders for the 2008 second quarter decreased to $2.3 million, or a loss per share of $0.09, from $3.3 million, or a loss per share of $0.26, for the 2007 second quarter. For the first six months of 2008, net loss applicable to common shareholders decreased to $5.0 million, or a loss per share of $0.19, from $6.3 million, or a loss per share of $0.48, for the prior year period.

Basic and diluted weighted average shares outstanding for the 2008 second quarter and first six months were 26,401,973 and 26,403,550, respectively, compared with 13,075,203 and 13,162,751 in the year-earlier periods. The year-over-year increase in shares principally reflects the issuance of shares associated with the acquisitions of Helio and SSI, and issuance of shares in payment of fees related to the financing of those acquisitions.

President and Chief Operating Officer Shawn O'Grady said, "We continue to demonstrate that our business strategy and revenue model is working. We are closing new and larger deals, delivering a broader range of higher margin products and services through our expanded organization and increasing our base of recurring revenue. In the first six months of the year, we have added more than 130 new customers, taking market share from our competitors and affirming our views that a complete solutions approach is resonating with the mid-tier market."

Overall gross margin in this year's second quarter and first six months increased 92 percent and 74 percent, respectively, to $11.3 million and $20.4 million, compared to $5.9 million and $11.7 million, respectively, in the year-earlier periods. Gross margin as a percentage of revenue remained constant at 19.1 percent in the second quarter of 2008 compared to the second quarter of 2007. For the first six months of this year, gross margin as a percentage of revenue was 18.9 percent compared to 21.0 percent for the first six months of last year.

Services gross margin as a percentage of revenue in the second quarter and first six months of 2008 was 30.4 percent and 28.3 percent, respectively, compared to 36.9 percent and 34.5 percent in the prior year periods. Product gross margin percentage in this year's second quarter and first six months were 17.5 percent and 17.4 percent, respectively, compared to 15.4 percent and 18.1 percent in the respective 2007 periods. The year-over-year decline in Services gross margin percentage is reflective of a higher volume of first call support contracts, which carry a lower margin than other managed services, and an increase in the volume of outside contractors used to deliver professional services engagements.

"While Services gross margin as a percentage of revenue in this year's second quarter declined when compared to the prior year quarter, the Services gross margin percentage increased substantially from 26.1 percent in the first quarter of 2008 due in large measure to the sale of a broader range of higher margin services across all of our operations," O'Grady added.

Outlook for 2008:

Exclusive of any acquisitions, Incentra continues to expect 2008 revenue to be between $200 million and $220 million, approximately 35 to 50 percent higher than revenue in 2007, and the Company believes it will be cash flow positive for the year. Excluding funds which may be required under a possible redemption associated with the Company's Series A Preferred Stock, Incentra believes its combined operating and non-operating cash flows, cash on-hand and working capital facilities are sufficient to support its business operations and growth plans for 2008.

Conference Call Information

As previously announced, management will host a conference call today to be broadcast live on the Internet at 11:30 a.m. (Eastern time). The dial-in number for the call from locations in North America is 1-800-762-8779, and for callers outside North America, the dial-in number for the call is 1-480-629- 1990. The conference ID is 3903546. You may also access the live webcast on the Company/Investors section of the Company's website, http://www.incentrasolutions.com/, under "Conference Call and Webcasts." Additionally, an archive of the conference call will be available on this site.

About Incentra Solutions, Inc.

Incentra Solutions, Inc. (http://www.incentrasolutions.com/) (OTCBB:ICNS) is a provider of complete IT services and solutions to enterprises and managed service providers in North America and Europe. Incentra's complete solution includes managed services, professional services, hardware and software products with the Company's First Call and Enhanced First Call support services, IT outsourcing solutions and financing options.

Incentra Solutions Forward Looking Statements

Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. For further information on factors which could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission, including Annual Reports on Form 10-KSB, Quarterly Reports on Form 10-QSB and Current Reports on Form 8-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

TABLES FOLLOW Operating Profit Reconciliation All amounts in (000's) Three Months Ended June 30, Six Months Ended June 30, 2008 2007 2008 2007 Loss from continuing operations before accretion of preferred stock $(1,598) $(2,677) $(3,713) $(4,968) Depreciation and amortization 1,330 687 2,184 1,507 Interest expense, net (cash portion) 942 319 1,838 619 Interest expense (non-cash portion) 594 503 1,124 826 Non-cash stock-based compensation 172 384 308 823 Operating profit (loss)(1) $1,440 $(784) $1,741 $(1,193) Operating Profit(1): Earnings before interest, taxes, depreciation, amortization, and before stock-based compensation charges INCENTRA SOLUTIONS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, 2008 2007 2008 2007 REVENUES: Products $51,608 $25,435 $92,752 $45,917 Services 7,639 5,375 14,720 9,865 TOTAL REVENUE 59,247 30,810 107,472 55,782 COST OF REVENUES: Products 42,602 21,525 76,567 37,591 Services 5,315 3,393 10,547 6,464 TOTAL COST OF REVENUES 47,917 24,918 87,114 44,055 GROSS MARGIN 11,330 5,892 20,358 11,727 Product - $ 9,006 3,910 16,185 8,326 Services - $ 2,324 1,982 4,173 3,401 Product - % 17.5% 15.4% 17.4% 18.1% Services - % 30.4% 36.9% 28.3% 34.5% SG&A 11,392 7,747 21,109 15,250 LOSS FROM OPERATIONS (62) (1,855) (751) (3,523) Interest expense (1,536) (822) (2,962) (1,445) NET LOSS (1,598) (2,677) (3,713) (4,968) Accretion of convertible redeemable preferred stock to redemption amount (654) (654) (1,308) (1,308) NET LOSS APPLICABLE TO COMMON SHAREHOLDERS $(2,252) $(3,331) $(5,021) $(6,276) Weighted average number of common shares outstanding - basic and diluted 26,401,973 13,075,203 26,403,550 13,162,751 Basic and diluted net loss per share applicable to common shareholders: Net loss per share- basic and diluted $(0.09) $(0.26) $(0.19) $(0.48) Contacts for Incentra Solutions: Allen & Caron Inc. Jill Bertotti (investors) jill@allencaron.com Len Hall (financial media) len@allencaron.com (949) 474-4300 Incentra Solutions, Inc. Anthony DiPaolo Chief Financial Officer adipaolo@incentrasolutions.com (720) 566-5000

Incentra Solutions, Inc.

CONTACT: investors, Jill Bertotti, jill@allencaron.com, or financial
media, Len Hall, len@allencaron.com, both of Allen & Caron Inc.,
+1-949-474-4300, for Incentra Solutions, Inc.; or Anthony DiPaolo, Chief
Financial Officer of Incentra Solutions, Inc., +1-720-566-5000,
adipaolo@incentrasolutions.com

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

DISH Network(R) Unveils Biggest High Definition Upgrade in TV HistoryIncludes Industry's First High Definition Programming Offered in 1080p and Up To 150 National HD Channels

ENGLEWOOD, Colo., July 31 /PRNewswire-FirstCall/ -- DISH Network Corporation today set the bar for the next-generation HD standard by becoming the first in the industry to offer high definition programming in 1080p, the highest and best HD resolution available.

This new functionality is part of DISH Network's latest and unprecedented expansion in high definition services, which includes the rollout of TurboHD, the industry's first 100 percent, all-HD suite of programming packages. As previously announced, DISH Network will also launch 17 new national HD channels tomorrow, surpassing its goal of reaching 100 national HD channels five months ahead of schedule. DISH Network now offers up to 114 national HD channels and plans to expand that line-up to 150 channels by the end of 2008, made possible by the recent launch of Echo XI, the most powerful satellite in the company's fleet.

"Over the years, DISH Network has maintained a very competitive high definition offering in the marketplace, providing customers with a premium HD product including the best technology, signal and experience -- at the best value -- that no other pay-TV provider can come close to matching. Our latest system upgrade coupled with the introduction of TurboHD further strengthens our position as the leader in digital television and high definition television," said Charlie Ergen, Chairman, CEO and President of DISH Network. "We know that once consumers start watching their favorite TV shows in high definition, their viewing habits change and their preference switches to all-HD programming. Only DISH Network gives them that option, all for an industry-low price of $24.99 per month."

DISH Network's new high definition services are supported by a proprietary system upgrade that, starting August 1, is being rolled out to all MPEG-4 HD DVR receivers. The upgrade activates a unique feature of the set-top boxes, improving the current standard of HD delivery used by pay-TV providers such as the ability to output 1080p programming. By early August, all DISH Network customers with MPEG-4 HD DVR receivers will have the only set-top boxes in the nation enabled to display 1080p content, allowing them to maximize the full potential of their 1080p-compatible HDTV sets.

To celebrate this new era in the high definition viewing experience, DISH Network is offering subscribers a special deal in August to enjoy the unparalleled picture and sound of 1080p high definition programming. Starting August 1, Warner Bros. Pictures' blockbuster "I Am Legend" starring Will Smith will be available in 1080p resolution -- same as Blu-ray(R) Disc quality -- on DISH Network's VOD service, DISH On Demand, at a discounted price. Subscribers with MPEG-4 HD DVRs may order the movie on DISH Network Channel 501.

Consumers can sign up for the best high definition programming and service in the industry with DISH Network's new TurboHD programming packages, the only all-HD packages on the market, starting at $24.99 per month. TurboHD is available in three separate tiers and includes special "turbo-charged" features and benefits such as DISH Network's award-winning and industry-leading technology, the highest quality HD available including 1080p where applicable, and the most-watched HD channels that may be viewed on any TV -- analog, digital or high definition.

Current DISH Network customers looking to add the industry's best high definition experience can get a "turbo-charged" HD package for as little as $10 more per month.

The latest national HD channels added to DISH Network's programming line-up are: ActionMax HD (DISH Network Ch. 313), CBS College Sports HD (Ch. 152), Lifetime HD (Ch. 108), Lifetime Movie Network HD (Ch. 109), Planet Green HD (Ch. 194), Encore HD (Ch. 340), HBO 2 HD (Ch. 301), HBO Comedy HD (Ch. 307), HBO Family HD (Ch. 305), HBO Latino HD (Ch. 309), HBO Signature HD (Ch. 302), HBO West HD (Ch. 303), HBO Zone HD (Ch. 308), Starz Comedy HD (Ch. 354), Starz Edge HD (Ch. 352), Starz Kids & Family HD (Ch. 356), and Starz West HD (Ch. 351).

For more information about DISH Network's 1080p programming, new HD channels and TurboHD system and packages, visit http://www.dishnetwork.com/ or call 1-800-333-DISH (3474).

DISH Network Corporation

DISH Network Corporation , the nation's third largest pay-TV provider and the leader in digital television, provides more than 13.815 million satellite TV customers with industry-leading customer satisfaction which has surpassed major cable TV providers for eight consecutive years. DISH Network also provides customers with award-winning HD and DVR technology including the ViP722(TM) HD DVR, which received the Editors' Choice awards from both CNET and PC Magazine. In addition, subscribers enjoy access to hundreds of video and audio channels, the most International channels in the U.S., industry-leading Interactive TV applications, Latino programming, and the best sports and movies in HD. DISH Network offers a variety of package and price options including the lowest all-digital price in America, the DishDVR Advantage Package, high-speed Internet service, and a free upgrade to the best HD DVR in the industry. DISH Network is included in the Nasdaq-100 Index (NDX) and is a Fortune 300 company. Visit http://www.dishnetwork.com/aboutus or call 1-800-333-DISH (3474) for more information.

DISH Network Corporation

CONTACT: Francie Bauer, +1-720-514-5839, press@echostar.com, for DISH
Network Corporation

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

FiSpace.net Provides Investor Social Networking for Shareholders of Banking Stocks BAC, JPM, MTB, PNC, CMA, and BCS

IRVINE, Calif., July 31 /PRNewswire/ -- FiSpace.net, which provides social networking tools for investors, announces the availability of blogs, message boards, and articles regarding the current tumult in the banking industry and related to Bank of America CP , J.P. Morgan Chase Co. , M&T Bank Corp. , PNC Financial Services Group Inc. , Comerica Bank , and Barclays .

Visit http://fispace.net/stock/financial/banks-and-lenders

The FiSpace.net exclusive blog, "Bank Stocks: 1/2 Price Sale. Get it While it's Cold!" is among the commentary posted.

FiSpace.net is the premiere Internet destination for stock market readers and writers, allowing individuals to post blogs, articles, messages and more in organized sector channels, enhancing the effective exchange of ideas. By posting content on FiSpace.net individuals can acquire F.A.N.S. (Financial Networked Subscribers) who help increase the author's influence and standing on the site in an unprecedented way.

The first step is to create a FiSpace.net page and start blogging and posting messages. The higher the FANbase, the more influence the author has on FiSpace.net. Everything written is archived under a Sector page selected when a user authors content. In doing so, investors seeking intelligence on any specific sector will find a wide variety of opinion and information via blogs and messages.

FiSpace.net is powered by Market Pathways, a leader in the financial community for nearly thirty years.

Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results. FiSpace.net is the property of Market Pathways Financial Relations Inc. (MP). MP provides no assurance as any company's plans or ability to effect proposed actions and cannot project capabilities, intent, resources, or experience. The subject companies have not always approved the statements made in this report. This report is neither a solicitation to buy nor an offer to sell securities and is for information purposes only and shouldn't be used as basis for any investment decision. MP isn't an investment advisor, analyst or licensed broker dealer and this report isn't investment advice. MP hasn't been paid for preparation and distribution of this report. This constitutes a conflict of interest as to MP's ability to remain objective in communication regarding subject companies. Market Pathways' analyst Brian Kelly holds CRD #2880975.

FiSpace.net

CONTACT: Shannon Squyres, Editor of Market Pathways/SectorWatch.biz,
+1-949-955-0107, for FiSpace.net

Web site: http://fispace.net/stock/financial/banks-and-lenders

XFMedia to Release Second Quarter 2008 Earnings Results on Monday, August 18, 2008

Earnings Conference Call to be Held on August 18, 2008 at 8:00 PM (New York

Time) (August 19, 2008 at 8:00 AM Beijing Time)

BEIJING, July 31 /Xinhua-PRNewswire-FirstCall/ -- XFMedia (the "Company"; Nasdaq: XFML), a leading media group in China, today announced that it will release its financial results for the second quarter ending June 30, 2008 on Monday, August 18, 2008, after the US markets close. XFMedia's earnings release and related materials will be available on the investor relations page of its website at http://www.xfmedia.cn/earnings.

Following the earnings announcement, XFMedia's senior management will host a conference call on August 18, 2008 at 8:00 pm (New York time) (August 19, 2008 at 8:00 am Beijing time) to discuss the second quarter of 2008 results and recent business activities.

Interested parties may dial into the conference call at (US) +1 800 510 0178 or +1 617 614 3450/ (UK) +44 207 365 8426 / (Asia Pacific) +852 3002 1672, Passcode: XFML. A telephone replay will be available two hours after the call for one week at (US Toll Free) +1 888 286 8010 and (International) +1 617 801 6888, Passcode: 51232173.

A real-time webcast and a replay of the webcast will be available at: http://www.xfmedia.cn/earnings-webcast.

Notes to Editors About Xinhua Finance Media

Xinhua Finance Media ("XFMedia"; Nasdaq: XFML) is a leading media group in China with nationwide access to the upwardly mobile demographic. Through its synergistic business groups, Broadcast, Print and Advertising, XFMedia offers a total solution empowering clients at every stage of the media process and connecting them with their target audience. Its unique platform covers a wide range of media assets, including television, radio, newspaper, magazine, outdoor, online and other media assets.

Headquartered in Beijing, the company has offices and affiliates in major cities of China including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For more information, please visit http://www.xfmedia.cn/ .

For more information, please contact: Media Contact Joy Tsang Tel: +86-21-6113-5999 Email: joy.tsang@xfmedia.cn IR Contact Jennifer Chan Lyman Tel: +86-21-6113-5960 Email: jennifer.lyman@xfmedia.cn

Xinhua Finance Media

CONTACT: Media Contact, Joy Tsang, +86-21-6113-5999, joy.tsang@xfmedia.cn;
or IR Contact, Jennifer Chan Lyman, +86-21-6113-5960,
jennifer.lyman@xfmedia.cn

Web site: http://www.xfmedia.cn/earnings
http://www.xfmedia.cn/

WinSonic Digital Media Group, Ltd. Launches New Business Venture - Rainysongs Digital Content Development and Distribution

ATLANTA, July 31 /PRNewswire-FirstCall/ -- Winston Johnson, Chairman and Chief Executive Officer of WinSonic Digital Media Group, Ltd. (OTC Bulletin Board: WDMG), announced today that WinSonic Digital Media Group, WinSonic Digital Cable Systems Network and Rainysongs Entertainment (http://www.rainysongsentertainment.com/) have executed a Memorandum of Understanding outlining a proposed venture between the companies. This venture will bring more content development, delivery, distribution, production and media and entertainment services to WinSonic Digital Cable Systems Network. This venture brings to WinSonic substantial catalogues of entertainment assets and music recordings available for sale.

Customers will enjoy full-featured, digital entertainment content. WinSonic Music and Rainysongs will offer songs a la carte or subscription-based music downloads providing the best in music discovery, from music editorial and professional play lists to advanced search and browse capabilities. WinSonic Distribution Services enables music labels, artists, publishers and media companies the ability to quickly bring their products to market, increasing revenue velocity, expediting acquisition of new customers and enhancing current customer relationships.

WinSonic is a market leader for independent distribution of digital music and video, with powerful marketing, promotion, distribution and operations capabilities throughout the world. WinSonic serves artists, labels, music publishers, television, film and video library owners and other rights holders by developing new and inventive ways to market and sell digital content. In addition, for digital and mobile retailers, advertisers, consumer brands and technology companies, the Company provides a single point of access to one of the world's largest and highest quality digital content catalogues that spans global superstars and niche and specialty artists.

WinSonic platform enables content providers the ability to offer end-users a greatly enhanced experience across any digital media type, content library or audience scale. This eliminates the need for additional investment in equipment or expertise to build and manage their networks. The Company Content Delivery provides HTTP/web distribution of digital media files such as video, music, games, software and social media. WinSonic Music and Publishing Group can now provide on-demand streaming for all major formats including Adobe Flash, MP3 audio, QuickTime, RealNetworks RealPlayer, Windows Media and iPod compatible. 'WinSonic Music and Rainysongs Entertainment strategic initiative establishes local, global, and wireless networks, i.e. Verizon, Cogent Sprint, AT&T and Comcast, capability to all new platform standards for delivery of digital media. Through WinSonic's consolidated efforts, we can provide the promise of high quality communications and entertainment integration that our customers and the market have come to demand. This combination is more powerful because of our heritage of innovation, service, quality, reliability and integrity,' said Winston Johnson, Chairman & CEO of WinSonic.

About Rainysongs Entertainment:

After years of research and development in the entertainment business Rainysongs has evolved into one of the internet's most innovative digital music labels. Rainysongs bridges technology with entertainment using the World Wide Web. Since its inception, Rainysongs has expanded its entertainment platform to marketing and advertising that's directly connected to music entertainment, including movies, automobile reviews, business and travel. All this connects to our consumers. "I'm pleased to have the opportunity to bring Rainysongs to the next level of technology and distribution through our new relationship with WinSonic. Winston Johnson, CEO, introduced me to the future of technology and we share a common vision for our companies' success," says Rainy Davis, CEO of Rainysongs Entertainment.

About WinSonic Digital Media Group, Ltd.

WinSonic Digital Media Group, Ltd. is a facilities-based media distribution solutions company with a distinctive video transport concept that enables users to view, interact, and listen to all types of audio, online video, and digital TV, in full-screen format, at high speeds, superb quality, and greatly reduced costs, while reducing the need for expensive high-speed connections.

Certain statements in this press release which are not historical or current fact constitute 'forward-looking statements' within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms 'may,' 'will,' 'potential,' 'opportunity,' 'believes,' 'belief,' 'expects,' 'intends,' 'estimates,' 'anticipates' or 'plans' to be uncertain and forward looking. Such forward-looking statements are based on our best estimates of future results, performance or achievements, current conditions and the most recent results of the company. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission including, but not limited to, its report on form 10-KSB for December 31, 2007. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and there can be no assurance that the actual results anticipated by the company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the company or its business or operations.

WinSonic Digital Media Group, Ltd.

CONTACT: Winston D. Johnson of WinSonic Digital Media Group, Ltd.,
+1-404-230-5705 ext. 2233, winston@winsonic.net

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

GCI Reports Preliminary Second Quarter 2008 Financial Results- Consolidated revenue of $142.5 million- EBITDAS of $43.4 million- Net income of $3.6 million or $0.07 per diluted share

ANCHORAGE, Alaska, July 31 /PRNewswire-FirstCall/ -- GCI today reported preliminary second quarter 2008 revenues of $142.5 million, an increase of 9.7 percent over the second quarter of 2007. Second quarter 2008 earnings before interest, taxes, depreciation, amortization and share based compensation expense (EBITDAS) totaled $43.4 million. EBITDAS increased $1.8 million or 4.2 percent from the second quarter of 2007. The increase in EBITDAS was attributable to growth in all segments except network access.

GCI's second quarter 2008 net income is expected to be $3.6 million, or earnings per diluted share of $0.07. The company's second quarter net income compares to net income of $5.9 million, or earnings per diluted share of $0.11 in the same period of 2007.

Second quarter 2008 revenue increased along all products lines when compared to the prior year. Second quarter results include the acquisition of the United companies as of June 1, 2008.

Revenues for the company increased $7.8 million, or 5.8 percent, over first quarter 2008 revenues of $134.7 million. Second quarter EBITDAS of $43.4 million increased 13.6 percent from $38.2 million in the first quarter of 2008.

"We just concluded another excellent quarter," said GCI president Ron Duncan. "GCI's second quarter results set new records for both revenue and EBITDAS. Our strong financial results are being driven by solid and growing customer metrics across all categories. We are on target to achieve our goals for 2008 and 2009."

"GCI achieved a number of important milestones since the end of the first quarter. We closed our acquisition of the United companies. We successfully transitioned all our rural telecommunications traffic to the Galaxy 18 satellite. Shortly after the end of the quarter we closed our acquisition of Alaska Wireless, LLC. This acquisition jump starts GCI's rural wireless initiative and along with our own rural wireless build-out will allow GCI to provide wireless service in more than 40 rural communities before the end of the year and more than 200 rural communities within the next 24 months. The build-out plans for our urban wireless networks are proceeding and we hope to close our acquisition of the remaining interest in Alaska DigiTel prior to the end of the third quarter."

"The third quarter marks the start of our wireless transition. Significant amounts of EBITDAS will be shifted from our network access business to our consumer and commercial business units as a result of the transition of AT&T Mobility traffic off of our carrier network and our transition of wireless customers from the AT&T network to our own," said Duncan. This process will add significantly to EBITDAS when it is complete by this time next year. I anticipate continued improvement in customer counts and operating metrics during the third quarter. Financial results should be similar to the just completed quarter. Third quarter EBITDAS may be burdened some by the costs and pace of the wireless transition. I am confident, however, that we will hit our announced goals for both 2008 and 2009."

GCI reaffirms 2008 guidance for revenues of $550 million to $560 million and EBITDAS of more than $165 million. Additionally GCI anticipates total cash receipts in excess of $45 million during 2008 as a result of fiber IRU agreements which are not otherwise reflected in current guidance. Second quarter 2008 results exceeded guidance for revenues of $133 million to $136 million and for EBITDAS in excess of the first quarter. Third quarter revenues are expected to total $138 million to $141 million, not including revenues from the amortization of fiber sales.

Highlights

-- Consumer revenues totaled $62.1 million, an increase of 12.7 percent over the prior year quarter and an increase of 1.2 percent over the first quarter of 2008. The increases were across all products and services.

-- GCI local access lines increased by 14,800 over the first quarter of 2008. The increase includes access lines from the acquisition of the United companies. Consumer, network access, commercial and other local access lines totaled 137,700 at the end of the second quarter of 2008, representing an estimated 32 percent share of the total access line market in Alaska. GCI began providing local access services on its own facilities in the Nome market during the second quarter of 2008.

-- GCI has provisioned 89,700 access lines on its own facilities at the end of the second quarter of 2008, an increase of 18,600 lines over the first quarter of 2008 and an increase of 35,000 lines when compared to the end of the second quarter of the prior year. The increase in provisioned lines includes 12,200 lines acquired from the United companies. The company had provisioned 54,700 access lines on its own facilities at the end of the second quarter of 2007. Plant upgrades were completed in the Fairbanks, Seward and Homer markets during the second quarter.

-- GCI had 100,000 consumer and commercial cable modem access customers at the end of the second quarter of 2008, an increase of 300 over the 99,700 cable modem customers at the end of the first quarter 2008. Average monthly revenue per cable modem totaled $37.77 for the second quarter of 2008 as compared to $36.71 for the first quarter of 2008, an increase of 2.9 percent. The increase in average monthly revenues arises primarily from customers upgrading to plans with increased levels of service.

-- GCI has 84,100 wireless subscribers, an increase of 3,900 subscribers from the first quarter of 2008.

-- GCI's contractors began laying 750 miles of undersea fiber that will connect 50,000 residents in several communities in Southeast Alaska. The $33 million project is expected to be completed before the end of 2008.

-- GCI is on track with its redundant fiber route to Fairbanks and with its diverse fiber route along Turnagain Arm near Anchorage. The Turnagain Arm project eliminates a current bottleneck where all of the fiber routes out of Alaska come unacceptably close together and when completed will allow GCI's lower 48 fiber ring to fully meet the diversity requirements of the United States Department of Defense.

While the company believes that the financial results included in this press release are materially correct, the company's auditors have not yet concluded all aspects of their review of our financial statements. Accordingly, the financial results included herein should be considered preliminary and may be subject to change following conclusion of the review.

GCI will hold a conference call to discuss the quarter's results on Thursday, July 31, 2008 beginning at 2 p.m. (Eastern). To access the briefing on July 31, dial 888-791-1856 (International callers should dial 210-234-0001) and identify your call as "GCI." In addition to the conference call, GCI will make available net conferencing. To access the call via net conference, log on to http://www.gci.com/ and follow the instructions. A replay of the call will be available for 72-hours by dialing 866-413-9161, access code 7461 (International callers should dial 203-369-0666.)

Full text and tables can be found at http://www.gci.com/.

GCI is the largest telecommunications company in Alaska. The company's cable plant, which provides voice, video, and broadband data services, passes 90 percent of Alaska households. GCI operates Alaska's most extensive terrestrial/subsea fiber optic network, which by the end of 2008, will connect not only Anchorage but also Fairbanks, and Juneau/Southeast to the lower 48 states with a diversely routed, protected fiber network. The company's satellite network provides communications services to small towns and villages throughout rural Alaska. GCI is now in the process of constructing Alaska's first truly statewide mobile wireless network, which will seamlessly link urban and rural Alaska for the first time in the state's history.

A pioneer in bundled services, GCI is the top provider of voice, data, and video services to Alaska consumers with a 70 percent share of the consumer broadband market. GCI is also the leading provider of communications services to enterprise customers, particularly large enterprise customers with complex data networking needs. More information about the company can be found at http://www.gci.com/.

The foregoing contains forward-looking statements regarding the company's expected results that are based on management's expectations as well as on a number of assumptions concerning future events. Actual results may differ materially from those projected in the forward looking statements due to uncertainties and other factors, many of which are outside GCI's control. Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements is contained in GCI's cautionary statement sections of Form 10-K and 10-Q filed with the Securities and Exchange Commission.

GCI

CONTACT: John Lowber, +1-907-868-5628, jlowber@gci.com, or Bruce
Broquet, +1-907-868-6660, bbroquet@gci.com, or David Morris, +1-907-265-5396,
dmorris@gci.com

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

Tower Semiconductor Announces that Jazz Technologies Set August 8, 2008 as the Record Date for a Special Meeting of Stockholders to Vote On and Approve the Merger with TowerHolders of Jazz Technologies Common Stock on August 8, 2008 Will Be Entitled to Vote On and Approve the Merger

MIGDAL HA'EMEK, Israel, July 31 /PRNewswire-FirstCall/ -- Tower Semiconductor, Ltd. , an independent specialty foundry, today announced that Jazz Technologies, Inc. , has set August 8, 2008 as the record date for a Special Meeting of Stockholders to vote on, approve and adopt the Agreement and Plan of Merger and Reorganization with Tower Semiconductor. Jazz Technologies has not yet set a date for the Special Meeting of Stockholders.

Jazz Technologies set the record date in connection with Tower and Jazz joint press release dated May 19, 2008, announcing that Tower Semiconductor and Jazz Technologies entered into a definitive agreement and Plan of Merger and Reorganization. The merger is subject to the approval of Jazz Technologies' stockholders who would hold the majority of Jazz Technologies common shares as of the close of business on August 8, 2008.

About Tower Semiconductor Ltd.:

Tower Semiconductor Ltd. is an independent specialty foundry that delivers customized solutions in a variety of advanced CMOS technologies, including digital CMOS, mixed-signal and RF (radio frequency) CMOS, CMOS image sensors, power management devices, and embedded non-volatile memory solutions. Tower's customer orientation is complemented by its uncompromising attention to quality and service. Its specialized processes and engineering expertise provides highly flexible, customized manufacturing solutions to fulfill the increasing variety of customer needs worldwide. Boasting two world-class manufacturing facilities with standard and specialized process technologies ranging from 1.0- to 0.13-micron, Tower Semiconductor provides exceptional design support and technical services to help customers sustain long-term, reliable product performance, while delivering on-time and on-budget results. More information can be found at http://www.towersemi.com/.

About Jazz Technologies and Jazz Semiconductor

Jazz Technologies(TM) is the parent company of Jazz Semiconductor, Inc., a leading independent wafer foundry focused on Analog-Intensive Mixed-Signal (AIMS) process technologies. The company's broad product portfolio includes digital CMOS and specialty technologies, such as RF CMOS, Analog CMOS, Silicon and SiGe BiCMOS, SiGe C-BiCMOS, Power CMOS and High Voltage CMOS. These technologies are designed for customers who seek to produce analog and mixed-signal semiconductor devices that are smaller and more highly integrated, power-efficient, feature-rich and cost-effective than those produced using standard process technologies. Jazz customers target the wireless and high-speed wireline communications, consumer electronics, automotive and industrial end markets. Jazz's executive offices and its U.S. wafer fabrication facilities are located in Newport Beach, CA. Jazz Semiconductor also has engineering and manufacturing support in Shanghai, China. For more information, please visit http://www.jazztechnologies.com/ and http://www.jazzsemi.com/.

Safe Harbor Regarding Forward Looking Statements

This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect our business is included under the heading "Risk Factors" in our most recent filings on Forms 20-F, F-3, F-4 and 6-K, as were filed with the Securities and Exchange Commission (the "SEC") and the Israel Securities Authority. We do not intend to update, and expressly disclaim any obligation to update, the information contained in this release.

Additional Information about the Proposed Merger and Where to Find It

In connection with the proposed merger, Tower has filed with the SEC a Registration Statement on Form F-4 (File No. 333-151919) (the "Form F-4") that contains a Proxy Statement/Prospectus and related materials and Jazz expects to mail to its stockholders the final Proxy Statement/Prospectus containing information about Tower, Jazz and the proposed merger. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND THE OTHER RELEVANT MATERIALS, CAREFULLY AND IN THEIR ENTIRETY, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TOWER, JAZZ AND THE PROPOSED MERGER. Investors and security holders may obtain free copies of the Form F-4, the Proxy Statement/Prospectus and other relevant materials and documents filed by Tower or Jazz with the SEC through the web site maintained by the SEC at http://www.sec.gov/. In addition, investors and security holders may obtain free copies of the documents relating to the proposed merger filed with the SEC by Tower by directing a request by mail to Tower Semiconductor Ltd, P.O. BOX 619, Migdal Haemek, Israel 23105, Attn: Investor Relations or by telephone at +972-4-6506936. Investors and security holders may obtain free copies of the documents relating to the proposed merger filed with the SEC by Jazz by directing a request by mail to Jazz Technologies, Inc., 4321 Jamboree Road, Newport Beach, California 92660, Attn: Investor Relations or by telephone at +1-415-445-3236.

Tower, Jazz and their respective executive officers and directors, under SEC rules, may be deemed to be participants in the solicitation of proxies from the stockholders of Jazz in connection with the proposed merger. Investors and security holders may obtain information regarding the special interests of these executive officers and directors in the proposed merger by reading the Proxy Statement/Prospectus filed with the SEC when it becomes available. Additional information regarding Tower's executive officers and directors is included in Tower's Form 20-F for the year ended December 31, 2007, which was filed with the SEC on June 18, 2008. Additional information regarding the executive officers and directors of Jazz is included in Jazz's Proxy Statement for its 2008 Annual Meeting of Stockholders, which was filed with the SEC on April 7, 2008. These documents are available free of charge at the SEC's web site at http://www.sec.gov/ and are also available free of charge from Investor Relations at Tower and Jazz by contacting Tower and Jazz as described above.

Investors and Press Contact: Shelton Group Ryan Bright, +1-972-239-5119 ext. 159 rbright@sheltongroup.com Tower Semiconductor Limor Asif, +972-4-650-6936 Limoras@towersemi.com

Tower Semiconductor Ltd

CONTACT: Investors and Press Contact: Shelton Group, Ryan Bright,
+1-972-239-5119 ext. 159, rbright@sheltongroup.com; Tower Semiconductor,
Limor Asif, +972-4-650-6936, Limoras@towersemi.com

BSkyB Preliminary Results 2008

LONDON, July 31 /PRNewswire-FirstCall/ -- Jeremy Darroch, CEO.

In a video interview Jeremy Darroch, BSkyB CEO, discusses the companies full year results and says, "In what has been a more challenging environment, the business has performed well. We have added around 400,000 net new customers this year. We are selling more products to customers than ever before and we have seen a banner year from Sky+, with over 1.3 million new additions."

Mr Darroch said the broadcaster was growing faster than any other provider in broadband and telephony.

"The quality of our base is improving. We have reduced churn back down to below 10 per cent. And financially the business is on track."

Also available is an interview with Andrew Griffith, CFO.

The interviews, transcripts, podcasts and vodcasts are available now on http://w3.cantos.com/british_sky_broadcasting. Cantos interviews are also available on our CEO Insight page on iTunes.

It's free to view. All you need to do is register at http://www.cantos.com/. Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333.

British Sky Broadcasting Group PLC

CONTACT: If you would like to contact us, please email
enquiries@cantos.com or phone +44-207-936-1333

BSkyB Preliminary Results 2008

LONDON, July 31 /PRNewswire/ --

Jeremy Darroch, CEO.

In a video interview Jeremy Darroch, BSkyB CEO, discusses the companies full year results and says, "In what has been a more challenging environment, the business has performed well. We have added around 400,000 net new customers this year. We are selling more products to customers than ever before and we have seen a banner year from Sky+, with over 1.3 million new additions."

Mr Darroch said the broadcaster was growing faster than any other provider in broadband and telephony.

"The quality of our base is improving. We have reduced churn back down to below 10 per cent. And financially the business is on track."

Also available is an interview with Andrew Griffith, CFO.

The interviews, transcripts, podcasts and vodcasts are available now on http://w3.cantos.com/british_sky_broadcasting. Cantos interviews are also available on our CEO Insight page on iTunes.

It's free to view. All you need to do is register at http://www.cantos.com. Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333.

British Sky Broadcasting Group PLC

If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333

Chi Mei Optoelectronics Announces Unaudited Second Quarter 2008

Net Sales of NT$ 95 Billion and Operating Margin of 16%

TAINAN, Taiwan, July 31 /Xinhua-PRNewswire-FirstCall/ -- Chi Mei Optoelectronics (CMO) (TAIEX: 3009) today announced its second quarter 2008 results (Note 1). Combined TFT-LCD net sales for the second quarter 2008 amounted to NT$ 95,489 million, a 3.7% increase over the previous quarter's NT$ 92,085 million. Gross profit was NT$ 21,228 million, for a gross margin of 22.2%. Operating income totaled NT$ 15,255 million with an operating margin of 16%. Net income amounted to NT$ 13,740 million, where NT$13,847 was attributable to the shareholders of the parent company. EPS equaled NT$ 1.88.

For the first half of 2008, net sales totaled NT$ 187.6 billion, an increase of 72.7% year over year. Operating income was NT$ 33,006 million with an operating margin of 17.6%. Net income totaled NT$ 29,034 million, where NT$29,051 was attributable to the shareholders of the parent company, or an EPS of NT$ 3.95.

The company shipped 18.6 million large-sized (Note 2) panels in the second quarter 2008, which represents a 19% increase over the 15.7 million panels shipped in the first quarter 2008. Blended ASP for large-sized panel on a per unit basis decreased by 7.2% to USD $164 over the previous quarter.

Note 1: All figures include TFT-LCD related subsidiaries: NBCMO, NBCME, NHCMO, NHCME, CMOJ, and CHE Note 2: Large-sized refers to panels equal to 10.4 inches and above CMO with TFT Subsidiaries (1) 2Q08 Income Statement -- QoQ Comparison NT$ million % % QoQ% Except Per Share Data 2Q08 Revenue 1Q08 Revenue Change Net Sales(1) 95,489 100.0% 92,085 100.0% 3.7% Cost of Goods Sold -74,261 -77.8% -69,066 -75.0% 7.5% Gross Profit 21,228 22.2% 23,019 25.0% -7.8% Operating Expenses -5,973 -6.2% -5,268 -5.7% 13.4% Operating Income 15,255 16.0% 17,751 19.3% -14.1% Net Non-operating Income (Exp.) -641 -0.7% -1,593 -1.7% -59.8% Income before Tax 14,614 15.3% 16,158 17.6% -9.6% EBITDA(2) 31,430 32.9% 32,706 35.5% -3.9% Net Income(3) 13,740 14.4% 15,294 16.6% -10.2% Basic EPS (NT$)(4) 1.88 -- 2.07 -- -- Net Income(3) 13,740 14.4% 15,294 16.6% -10.2% Parent 13,847 14.5% 15,204 16.5% -8.9% Minority interest -107 -0.1% 90 0.1% -- Notes (1) Including TFT-LCD related subsidiaries: NBCMO, NBCME, NHCMO, NHCME, CMOJ and CHE (2) EBITDA = Operation Income + Depreciation & Amortization (3) Net income before preferred dividend (4) Calculation of basic EPS is after preferred dividend and based on weighted average of outstanding common shares (5) All figures are unaudited, prepared by Chi Mei Optoelectronics CMO with TFT Subsidiaries (1) 1H08 Income Statement -- YoY Comparison NT$ million % % YoY% Except Per Share Data 1H08 Revenue 1H07 Revenue Change Net Sales (1) 187,574 100.0% 108,594 100.0% 72.7% Cost of Goods Sold -143,327 -76.4% -94,927 -87.4% 51.0% Gross Profit 44,247 23.6% 13,667 12.6% 223.8% Operating Expenses -11,241 -6.0% -8,623 -8.0% 30.4% Operating Income 33,006 17.6% 5,044 4.6% 554.4% Net Non-operating Income (Exp.) -2,234 -1.2% -2,753 -2.5% -18.9% Income before Tax 30,772 16.4% 2,291 2.1% 1243.2% EBITDA (2) 64,136 34.2% 25,854 23.8% 148.1% Net Income (3) 29,034 15.5% 2,285 2.1% 1170.6% Basic EPS (NT$)(4) 3.95 -- 0.28 -- -- Net Income (3) 29,034 15.5% 2,285 2.1% 1170.6% Parent 29,051 15.5% 2,285 2.1% 1171.4% Minority interest -17 0.0% -- -- -- Notes (1) Including TFT-LCD related subsidiaries: NBCMO, NBCME, NHCMO, NHCME, CMOJ and CHE (2) EBITDA = Operation Income + Depreciation & Amortization (3) Net income before preferred dividend (4) Calculation of basic EPS is after preferred dividend and based on weighted average of outstanding common shares (5) All figures are unaudited, prepared by Chi Mei Optoelectronics CMO with TFT Subsidiaries (1) 2Q08 Balance Sheet NT$ million 2Q08 1Q08 2Q07 Cash & Cash Equivalent 27,751 26,818 20,990 Inventory 42,500 38,265 32,955 Total Assets 527,341 503,935 427,530 Short Term Debt (2) 38,455 30,338 33,739 Long Term Debt 121,697 130,581 130,292 Shareholders' Equity (3) 237,998 236,385 187,276 Net Debt to Shareholders' Equity 55.6% 56.7% 76.4% Depreciation & Amortization 16,175 14,955 10,932 Capital Expenditure 26,089 28,025 23,069 Notes (1) Including TFT-LCD related subsidiaries: NBCMO, NBCME, NHCMO, NHCME, CMOJ and CHE (2) Short term debt = (short-term bank loan + commercial papers + current portion of long term loans) (3) Capital Stock (common): NT$ 73.06 billion (4) Book value per common stock: NT$ 30.5 (5) All figures are unaudited, prepared by Chi Mei Optoelectronics Announcement Contact: Denis Chen CMO Acting Spokesperson Tel: +886-06-505-3760 Email: ir@cmo.com.tw Loreta Chen CMO Public Relations Tel: +886-06-505-1888 ext. 11202 Email: pr@cmo.com.tw

Chi Mei Optoelectronics

CONTACT: Denis Chen, +886-06-505-3760, ir@cmo.com.tw, or Loreta Chen,
+886-06-505-1888 ext.11202, or loreta_chen@cmo.com.tw, both of Chi Mei
Optoelectronics

TSMC Reports Second Quarter EPS of NT$1.12

HSINCHU, Taiwan, July 31 /Xinhua-PRNewswire-FirstCall/ -- TSMC today announced consolidated revenue of NT$88.14 billion, net income of NT$28.77 billion, and diluted earnings per share of NT$1.12 (US$0.18 per ADS unit) for the second quarter ended June 30, 2008.

Year-over-year, second quarter revenue increased 17.6% while net income and diluted EPS increased 12.9% and 16.3%, respectively. On a sequential basis, second quarter results represent a 0.8% increase in revenue, an increase of 2.2% in net income, and an increase of 2.1% in diluted EPS. All figures were prepared in accordance with R.O.C. GAAP on a consolidated basis.

Second quarter business saw an improvement from the previous quarter, although revenue and margins continued to be negatively affected by the strength of the NT dollar. Despite the negative impact from the foreign exchange rate, our margins have exceeded guidance due to significant cost improvement and higher levels of wafer movements. Second quarter gross margin was 45.6%, operating margin was 34.5%, and net margin was 32.6%.

Advanced process technologies (0.13-micron and below) accounted for 63% of wafer revenues with 90-nanometer process technology accounting for 28% and 65- nanometer reaching 18% of total wafer sales.

"Even with a weakening macroeconomic environment, our second quarter results were either in line with or slightly higher than guidance announced at the end of April, thanks to our continual effort in driving cost reduction and increasing utilization rates," said Lora Ho, VP and Chief Financial Officer of TSMC. "Based on our current business outlook, management expects third quarter revenue growth to be below seasonality. Management further expects overall performance for third quarter 2008 to be as follows":

-- Revenue is expected to be between NT$90 billion and NT$92 billion; -- Gross profit margin is expected to be between 45% and 47%; -- Operating profit margin is expected to be between 34% and 36%. Conference Call & Webcast Notice:

TSMC's quarterly review conference call will be held at 8 a.m. Eastern Time (8 p.m. Taiwan Time) on Thursday, July 31, 2008. The conference call will also be webcast live on the Internet. Investors wishing to access the live webcast should visit TSMC's web site at http://www.tsmc.com/ at least 15 minutes prior to the broadcast. Instructions will be provided on the web site to facilitate the download and installation of necessary audio applications. Investors without Internet access may listen to the conference call, in listen-only mode, by dialing 1-617-614-3452 in the U.S., 852-3002-1672 in Hong Kong, 65-6823-2164 in Singapore, and 44-207-365-8426 in the U.K. (Password: TSMC). An archived version of the webcast will be available on TSMC's web site for six months following the Company's quarterly review conference call and webcast.

Profile

TSMC (TAIEX: 2330; NYSE: TSM) is the world's largest dedicated semiconductor foundry, providing the industry's leading manufacturing capacity, process technology, and the foundry industry's largest portfolio of process- proven libraries, IP, design tools and reference flows. TSMC currently operates two twelve-inch wafer fabs, four eight-inch fabs, and one six-inch fab. The Company also operates two eight-inch fabs at its wholly owned subsidiaries, WaferTech in the U.S. and TSMC (Shanghai) Company, Ltd. in China, and has substantial capacity commitments from a joint-venture fab, SSMC, in Singapore. Total managed capacity in 2007 exceeds eight million eight-inch equivalent wafers. TSMC is the first foundry to provide 65-nanometer production capabilities. TSMC's corporate headquarters are in Hsin-Chu, Taiwan. More information about TSMC is available at http://www.tsmc.com/ .

-- Management Report and Tables Follow -- TSMC 2Q08 Quarterly Management Report July 31, 2008 Topics in This Report -- Revenue Analysis -- Profit & Expense Analysis -- Financial Condition Review -- Cash Flow -- CapEx & Capacity -- Recap of Recent Important Events & Announcements Operating Results Review: Summary: (Amounts are on consolidated basis and are in NT billions except otherwise noted) 2Q08 1Q08 2Q07 QoQ YoY EPS (NT$ per common share) 1.12 1.10 0.96 2.1% 16.3% (US$ per ADR unit) 0.18 0.17 0.15 -- -- Consolidated Net Sales 88.14 87.48 74.92 0.8% 17.6% Gross Profit 40.22 38.24 32.18 5.2% 25.0% Gross Margin 45.6% 43.7% 43.0% -- -- Operating Expense (9.85) (9.12) (7.45) 8.0% 32.3% Operating Income 30.37 29.12 24.73 4.3% 22.8% Operating Margin 34.5% 33.3% 33.0% -- -- Non-Operating Items 2.00 2.45 3.29 (18.2%) (39.1%) Net Income 28.77 28.14 25.48 2.2% 12.9% Net Profit Margin 32.6% 32.2% 34.0% -- -- Wafer Shipment (kpcs 8 inch-equiv.) 2,329 2,196 1,856 6.0% 25.5% Remarks:

The diluted earnings per share in 2Q08 were NT$1.12, representing an increase of 16.3% over the same period last year and an increase of 2.1% from the previous quarter. The consolidated operating results of 2Q08 are summarized below:

Net sales in the second quarter were NT$88.1 billion, up 17.6% from NT$74.9 billion in 2Q07 and up 0.8% from NT$87.5 billion in 1Q08.

Gross profit for the quarter was NT$40.2 billion with gross margin of 45.6%, 1.9 percentage points higher than the 43.7% gross margin in 1Q08, mainly due to significant cost improvement and higher levels of wafer movements but partially offset by an unfavorable change of the exchange rate.

Operating expenses, including expenses accrued for employee profit sharing, were NT$9.8 billion or 11.1% of net sales. The combined result from non- operating income and long-term investments was a gain of NT$2.0 billion.

Consolidated net income attributable to shareholders of the parent company, including an accrual of employee profit sharing, was NT$28.8 billion, up 12.9% from a year ago level and up 2.2% from the previous quarter. Net profit margin was 32.6% for 2Q08.

I. Revenue Analysis:

In-line with our guidance, the second quarter 2008 revenue reached NT$88.1 billion. 2Q08 business saw a solid improvement but revenue was negatively impacted by a 3.7% appreciation in the NT dollar against the US dollar. Demand from consumer related applications grew but communication and computer applications declined during the quarter. On a sequential basis, revenue from consumer applications increased 24%, while revenues for communication and computer applications declined 2% and 8%, respectively.

As a result of continued strong ramp for our 65nm technology, revenue from 65nm reached 18% of total wafer sales during the quarter, up from 15% in the previous quarter. Meanwhile, revenue from 90nm remained strong at 28% of total wafer sales. Overall, revenues from advanced technologies (0.13-micron and below) accounted for 63% of total wafer sales.

Revenues from IDM customers accounted for 29% of total wafer sales in 2Q08, flat from 1Q08.

From a geographic perspective, revenues from customers based in North America accounted for 73% of total wafer sales. Meanwhile, sales from customers in Asia Pacific, Europe and Japan accounted for 13%, 11% and 3% of wafer sales, respectively.

I. Wafer Sales Analysis By Application 2Q08 1Q08 2Q07 Computer 31% 34% 29% Communication 41% 42% 44% Consumer 21% 17% 18% Industrial/Others 7% 7% 9% By Technology 2Q08 1Q08 2Q07 65nm and below 18% 15% 3% 90nm 28% 28% 26% 0.11/0.13um 17% 20% 24% 0.15/0.18um 23% 23% 30% 0.25/0.35um 10% 10% 12% 0.50um+ 4% 4% 5% By Customer Type 2Q08 1Q08 2Q07 Fabless/System 71% 71% 68% IDM 29% 29% 32% By Geography 2Q08 1Q08 2Q07 North America 73% 76% 74% Asia Pacific 13% 12% 13% Europe 11% 9% 9% Japan 3% 3% 4% II. Profit & Expense Analysis Gross Profit Analysis:

Gross margin in 2Q08 was 45.6%, up 1.9 percentage points from the previous quarter, reflecting the significant cost improvement and higher levels of wafer movements, partially offset by a continued unfavorable change of the exchange rate.

II -- 1. Gross Profit Analysis (In NT billions) 2Q08 1Q08 2Q07 COGS 47.9 49.2 42.7 Depreciation 18.2 18.1 17.9 Other MFG Cost 29.7 31.1 24.8 Gross Profit 40.2 38.2 32.2 Gross Margin 45.6% 43.7% 43.0% Operating Expenses:

Total operating expenses for 2Q08 increased by 8.0% sequentially to reach NT$9.8 billion, or 11.1% of net sales, compared with 10.4% of net sales in the previous quarter.

Research and development expenditures increased by NT$134 million quarter- over-quarter, mainly due to 32nm technology development and 45nm technology transfer.

SG&A expenses increased by NT$598 million from the previous quarter, primarily due to the start-up cost for the accelerating ramp-up of Fab 14 Phase 3, the promotion expenses for world-wide technology marketing activities, and an accrual for higher legal litigation fees.

II -- 2. Operating Expenses (In NT billions) 2Q08 1Q08 2Q07 Total Operating Exp. 9.85 9.12 7.45 SG&A 4.45 3.85 3.15 Research & Development 5.40 5.27 4.30 Total Operating Exp. as a % of Sales 11.1% 10.4% 10.0% Non-Operating Items:

Combined result from non-operating income and long-term investments income was a gain of NT$2.0 billion for the second quarter 2008.

Non-operating income was NT$1.7 billion, slightly down from NT$1.8 billion in the previous quarter.

Net investment income decreased by NT$298 million in the quarter to NT$279 million.

II -- 3. Non-Operating Items (In NT billions) 2Q08 1Q08 2Q07 Non-Operating Inc./(Exp.) 1.7 1.8 2.8 Net Interest Income/(Exp.) 1.2 1.2 1.3 Other Non-Operating 0.5 0.6 1.5 L-T Investments 0.3 0.6 0.5 SSMC 0.3 0.4 0.2 Others (0.0) 0.2 0.3 Total Non-Operating Items 2.0 2.4 3.3 The Impact of Employee Profit Sharing:

Total impact from employee profit sharing expensing (PSE) on gross margin in 2Q08 was 2.6 percentage points, slightly up from the level in previous quarter.

Similarly, total PSE impact on operating margin was 4.9 percentage points in 2Q08.

II -- 4. PSE Impact 2Q08 1Q08 2Q07 Gross Margin w/ PSE 45.6% 43.7% 38.5% Gross Margin w/o PSE 48.2% 46.2% 43.0% PSE Impact -2.6% -2.5% -4.5% Operating Margin w/ PSE 34.5% 33.3% 24.3% Operating Margin w/o PSE 39.4% 38.1% 33.0% PSE Impact -4.9% -4.8% -8.7% * PSE: Profit Sharing Expenses ** 2007 PSE impact is estimated using the 6/12/2008 closing share price adjusted for dividends III. Financial Condition Review Liquidity Analysis:

At the end of 2Q08, total current assets increased by NT$ 18.3 billion to reach NT$299.8 billion, mainly due to the increase of NT$13.7 billion in cash and marketable securities.

Total current liabilities increased by NT$84.9 billion in 2Q08, primarily due to higher accruals of NT$ 77.0 billion and NT$8.6 billion payables for cash dividends and bonuses of employees, directors, and supervisors, respectively.

Net working capital was NT$152.8 billion at the end of the quarter, current ratio declined to 2.0.

III -- 1. Liquidity Analysis (Selected Balance Sheet Items) (In NT billions) 2Q08 1Q08 2Q07 Cash & Marketable Securities 224.0 210.3 233.1 Accounts Receivable -- Trade 41.9 38.0 37.1 Inventory 23.4 21.9 24.0 Total Current Assets 299.8 281.5 304.6 Accounts Payable 21.1 22.6 28.2 Current Portion of Bonds Payable 8.0 8.0 4.5 Dividends Payable 77.0 0.0 77.5 Accrued Bonus to Employees, Directors and Supervisors 13.0 4.4 4.6 Accrued Liabilities and Others 27.9 27.0 17.6 Total Current Liabilities 147.0 62.0 132.4 Current Ratio (x) 2.0 4.5 2.3 Net Working Capital 152.8 219.4 172.2 Receivable and Inventory Days:

Sequentially, days of receivable decreased by one day to 42 days in 2Q08 while days of inventory increased by one day to 47 days.

III -- 2. Receivable/Inventory Days (In Number of Days) 2Q08 1Q08 2Q07 Days of Receivable 42 43 44 Days of Inventory 47 46 52 Debt Service:

Net cash reserves -- defined as the excess of cash and short-term marketable securities over interest-bearing debt -- increased by NT$13.7 billion to NT$201.1 billion at the end of 2Q08.

III -- 3. Debt Service (In NT billions) 2Q08 1Q08 2Q07 Cash & Marketable Securities 224.0 210.3 233.1 Interest-Bearing Debt 22.9 22.9 26.3 Net Cash Reserves 201.1 187.4 206.8 Cash Flow Summary of Cash Flow:

Cash generated from operating activities totaled NT$45.0 billion during the quarter, down from NT$57.3 billion in 1Q08, mainly due to tax payment of NT$10.0 billion and inventory increase of NT$1.5 billion.

Net cash generated in investing activities was NT$3.6 billion in 2Q08, reflecting capital expenditure of NT$22.3 billion and a net increase of NT$27.2 billion in marketable financial instruments.

Net cash used in financing activities was NT$6.8 billion during the quarter, as we spent NT$6.6 billion in share buyback.

As a result, TSMC ended the quarter with a cash balance of NT$185.3 billion.

IV -- 1. Cash Flow Analysis (In NT billions) 2Q08 1Q08 2Q07 Net Income 28.8 28.1 25.5 Depreciation & Amortization 20.0 19.8 19.6 Other Operating Sources/(Uses) (3.8) 9.4 (10.4) Total Operating Sources/(Uses) 45.0 57.3 34.7 Capital Expenditure (22.3) (15.3) (25.3) Marketable Financial Instruments 27.2 12.9 15.8 Other Investing Sources/(Uses) (1.3) (0.7) (0.7) Net Investing Sources/(Uses) 3.6 (3.1) (10.2) Purchase of Treasury Stock (6.6) (3.1) 0.0 Other Financing Sources/(Uses) (0.2) (0.2) (0.5) Net Financing Sources/(Uses) (6.8) (3.3) (0.5) Net Cash Position Changes 41.8 50.9 24.0 Exchange Rate Changes & Others (0.8) (1.6) (0.9) Ending Cash Balance 185.3 144.3 163.4 Operating and Free Cash Flows:

Cash flows generated from operating activities were NT$45.0 billion during the quarter. Free cash flow, defined as the excess of operating cash flows over capital expenditures, totaled NT$22.8 billion in 2Q08, compared to NT$42.0 billion in 1Q08.

Please refer to the link for the index charts: http://www.tsmc.com/uploadfile/ir/quarterly/index_charts.pdf V. CapEx & Capacity Capital Expenditures:

Capital expenditures for TSMC on a consolidated basis totaled US$728 million during the quarter.

In the first half of 2008, total capital expenditure reached US$1.2 billion.

V -- 1. Capital Expenditures (In US millions) 1Q08 2Q08 YTD TSMC 452 712 1,164 XinTec and GUC 13 5 18 TSMC Shanghai & WaferTech 18 11 29 Other TSMC Subsidiaries 1 0 1 Total TSMC 484 728 1,212 Capacity:

Total TSMC managed capacity was 2,303K 8-inch equivalent wafers in the second quarter, 6% more than 1Q08. TSMC managed capacity in 3Q08 will increase by 5% to reach 2,416K 8-inch equivalent wafers.

Total managed capacity for 2008 is expected to reach 9,377K 8-inch equivalent wafers, representing an increase of 13% from 8,290K 8-inch equivalent wafers in 2007, while capacity for 12-inch wafer fabs will increase by 27%.

V--2. Capacity 1Q08 2Q08 3Q08 4Q08 2008 Fab / (Wafer size) (A) (A) (F) (F) (F) Fab-2 (6")(Note 1) 248 267 270 272 1,056 Fab-3 (8") 277 281 268 274 1,100 Fab-5 (8") 163 165 161 161 650 Fab-6 (8") 265 267 268 282 1,082 Fab-8 (8") 262 275 267 272 1,076 Fab-12 (12")(Note 2) 197 207 214 221 840 Fab-14 (12")(Note 2) 167 185 229 236 818 WaferTech (8") 105 105 106 106 420 TSMC (Shanghai) (8") 88 110 128 128 453 TSMC total capacity (8 equiv. Kpcs) 2,117 2,236 2,346 2,405 9,104 SSMC (8") 63 67 69 73 272 Total managed capacity (8 equiv. Kpcs) 2,180 2,303 2,416 2,478 9,377 Note: 1. Figures represent number of 6 wafers. Conversion to 8- Equivalent wafers is obtained by dividing this number by 1.78 2. Figures represent number of 12 wafers. Conversion to 8- equivalent wafers is obtained by multiplying this number by 2.25 VI. Recap of Recent Important Events & Announcements -- TSMC Wins Corporate Governance Asia Annual Recognition Award 2008 (2008/06/26) -- TSMC Shareholders Approve NT$3.0 Cash and 0.5% Stock Dividend (2008/06/13) -- TSMC Unified DFM Architecture Promises Improved Yields and Accelerated Time-to-Market (2008/06/09) -- New TSMC Reference Flow 9.0 Supports 40nm Process Technology (2008/06/03) -- TSMC Board Approves Plan to Buy Back and Cancel Shares up to US$1 billion (2008/05/13) -- TSMC Board Approves Capital Appropriation of US$995 Million to Expand Fab 12 and Increase Its Advanced Process Capacity (2008/05/13) -- Intel, Samsung Electronics, TSMC Reach Agreement For 450mm Wafer Manufacturing Transition (2008/05/06) -- TSMC Unveils New 40/65-Nanometer SPICE Tool Qualification Program (2008/04/22) -- TSMC and NTHU Celebrate Opening of College of Technology Management TSMC Building (2008/04/18) -- TSMC Announces Power Trim Service for Advanced Chip Leakage Power Reduction (2008/04/15)

* Please visit TSMC's Web site ( http://www.tsmc.com/ ) for details about these and other announcements.

TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES

Consolidated Condensed Balance Sheets (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars(USD)) (1)

June 30, 2008 (audited) ASSETS USD NTD % Current Assets Cash and Cash Equivalents $6,106 $185,346 30.1 Investments in Marketable Financial Instruments 1,273 38,642 6.3 Accounts Receivable -- Trade 1,379 41,858 6.8 Inventories, Net 770 23,359 3.8 Other Current Assets 348 10,558 1.7 Total Current Assets 9,876 299,763 48.7 Long-Term Investments 1,052 31,937 5.2 Property, Plant and Equipment 27,573 836,936 136.0 Less: Accumulated Depreciation (18,935) (574,738) (93.4) Property, Plant and Equipment, Net 8,638 262,198 42.6 Other Assets 702 21,325 3.5 Total Assets $20,268 $615,223 100.0 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Short-Term Bank Loans $-- $-- -- Accounts Payable (2) 383 11,632 1.9 Payables to Contractors and Equipment Suppliers (2) 313 9,511 1.5 Accrued Expenses and Other Current Liabilities 3,874 117,576 19.2 Current Portion of Bonds Payable and Long-Term Liabilities 272 8,262 1.3 Total Current Liabilities 4,842 146,981 23.9 Bonds Payable 148 4,500 0.7 Other Long-Term Liabilities 562 17,055 2.8 Total Liabilities 5,552 168,536 27.4 Shareholders' Equity Attributable to Shareholders of the Parent Capital Stock 8,616 261,535 42.5 Capital Surplus 1,677 50,917 8.3 Retained Earnings 5,006 151,953 24.7 Treasury Stock (489) (14,845) (2.4) Others (208) (6,319) (1.1) Total Equity Attributable to Shareholders of the Parent 14,602 443,241 72.0 Minority Interests 114 3,446 0.6 Total Shareholders' Equity 14,716 446,687 72.6 Total Liabilities & Shareholders' Equity $20,268 $615,223 100.0 Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the rate of NT$30.354 as of June 30, 2008. (2) Certain prior period balances have been reclassified to conform to the current period presentation. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES

Consolidated Condensed Balance Sheets (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1)

(Continued) March 31, 2008 June 30, 2007 (unaudited) (audited) ASSETS NTD % NTD % Current Assets Cash and Cash Equivalents $144,277 24.2 $163,391 25.6 Investments in Marketable Financial Instruments 66,034 11.1 69,685 10.9 Accounts Receivable -- Trade 37,950 6.3 37,054 5.8 Inventories, Net 21,890 3.7 24,045 3.8 Other Current Assets 11,304 1.9 10,464 1.7 Total Current Assets 281,455 47.2 304,639 47.8 Long-Term Investments 33,693 5.6 45,153 7.1 Property, Plant and Equipment 817,464 136.9 767,100 120.3 Less: Accumulated Depreciation (555,854) (93.1) (502,495) (78.8) Property, Plant and Equipment, Net 261,610 43.8 264,605 41.5 Other Assets 20,285 3.4 23,037 3.6 Total Assets $597,043 100.0 $637,434 100.0 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Short-Term Bank Loans $-- -- $99 -- Accounts Payable (2) 10,338 1.7 11,064 1.8 Payables to Contractors and Equipment Suppliers (2) 12,256 2.1 17,103 2.7 Accrued Expenses and Other Current Liabilities 31,162 5.2 99,365 15.5 Current Portion of Bonds Payable and Long-Term Liabilities 8,280 1.4 4,782 0.8 Total Current Liabilities 62,036 10.4 132,413 20.8 Bonds Payable 4,500 0.8 12,500 2.0 Other Long-Term Liabilities 17,537 2.9 18,649 2.9 Total Liabilities 84,073 14.1 163,562 25.7 Shareholders' Equity Attributable to Shareholders of the Parent Capital Stock 256,292 42.9 264,235 41.5 Capital Surplus 51,696 8.7 53,726 8.4 Retained Earnings 208,633 34.9 154,010 24.2 Treasury Stock (918) (0.2) (918) (0.1) Others (6,410) (1.0) (167) (0.1) Total Equity Attributable to Shareholders of the Parent 509,293 85.3 470,886 73.9 Minority Interests 3,677 0.6 2,986 0.4 Total Shareholders' Equity 512,970 85.9 473,872 74.3 Total Liabilities & Shareholders' Equity $597,043 100.0 $637,434 100.0 Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the rate of NT$30.354 as of June 30, 2008. (2) Certain prior period balances have been reclassified to conform to the current period presentation. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES

Consolidated Condensed Balance Sheets (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1)

(Continued) QoQ YoY ASSETS Amount % Amount % Current Assets Cash and Cash Equivalents $41,069 28.5 $21,955 13.4 Investments in Marketable Financial Instruments (27,392) (41.5) (31,043) (44.5) Accounts Receivable - Trade 3,908 10.3 4,804 13.0 Inventories, Net 1,469 6.7 (686) (2.9) Other Current Assets (746) (6.6) 94 0.9 Total Current Assets 18,308 6.5 (4,876) (1.6) Long-Term Investments (1,756) (5.2) (13,216) (29.3) Property, Plant and Equipment 19,472 2.4 69,836 9.1 Less: Accumulated Depreciation (18,884) 3.4 (72,243) 14.4 Property, Plant and Equipment, Net 588 0.2 (2,407) (0.9) Other Assets 1,040 5.1 (1,712) (7.4) Total Assets $18,180 3.0 ($22,211) (3.5) LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Short-Term Bank Loans $-- -- ($99) (100.0) Accounts Payable (2) 1,294 12.5 568 4.3 Payables to Contractors and Equipment Suppliers (2) (2,745) (22.4) (7,592) (44.1) Accrued Expenses and Other Current Liabilities 86,414 277.3 18,211 18.3 Current Portion of Bonds Payable and Long-Term Liabilities (18) (0.2) 3,480 72.8 Total Current Liabilities 84,945 136.9 14,568 11.0 Bonds Payable -- -- (8,000) (64.0) Other Long-Term Liabilities (482) (2.7) (1,594) (8.5) Total Liabilities 84,463 100.5 4,974 3.0 Shareholders' Equity Attributable to Shareholders of the Parent Capital Stock 5,243 2.0 (2,700) (1.0) Capital Surplus (779) (1.5) (2,809) (5.2) Retained Earnings (56,680) (27.2) (2,057) (1.3) Treasury Stock (13,927) 1517.0 (13,927) 1517.0 Others 91 (1.4) (6,152) 3701.9 Total Equity Attributable to Shareholders of the Parent (66,052) (13.0) (27,645) (5.9) Minority Interests (231) (6.3) 460 15.4 Total Shareholders' Equity (66,283) (12.9) (27,185) (5.7) Total Liabilities & Shareholders' Equity $18,180 3.0 ($22,211) (3.5) Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the rate of NT$30.354 as of June 30, 2008. (2) Certain prior period balances have been reclassified to conform to the current period presentation. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Unaudited Consolidated Condensed Income Statements

For the Three Months Ended June 30, 2008, March 31, 2008, and June 30, 2007 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)

Except for Per Share Amounts and Shares Outstanding) Q2 2008 Q1 2008 USD NTD % NTD % Net Sales $2,896 $88,137 100.0 $87,480 100.0 Cost of Sales (1,574) (47,916) (54.4) (49,241) (56.3) Gross Profit 1,322 40,221 45.6 38,239 43.7 Operating Expenses Research and Development Expenses (178) (5,404) (6.1) (5,270) (6.0) General and Administrative Expenses (104) (3,170) (3.6) (2,662) (3.0) Sales and Marketing Expenses (42) (1,274) (1.4) (1,184) (1.4) Total Operating Expenses (324) (9,848) (11.1) (9,116) (10.4) Income from Operations 998 30,373 34.5 29,123 33.3 Non-Operating Income, Net 57 1,725 1.9 1,872 2.1 Investment Gains 9 279 0.3 577 0.7 Income before Income Tax 1,064 32,377 36.7 31,572 36.1 Income Tax (Expenses) Benefits (115) (3,503) (4.0) (3,336) (3.8) Net Income 949 28,874 32.7 28,236 32.3 Minority Interests (4) (103) (0.1) (93) (0.1) Net Income Attributable to Shareholders of the Parent 945 28,771 32.6 28,143 32.2 Earnings per Share -- Diluted $0.04 $1.12 -- $1.10 -- Earnings per ADR -- Diluted (2) $0.18 $5.61 -- $5.49 -- Weighted Average Outstanding Shares -- Diluted ('M) -- 25,634 -- 25,610 -- Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NT$30.437 for the second quarter of 2008. (2) 1 ADR equals 5 ordinary shares. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Unaudited Consolidated Condensed Income Statements

For the Three Months Ended June 30, 2008, March 31, 2008, and June 30, 2007 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)

Except for Per Share Amounts and Shares Outstanding) (Continued) Q2 2007 QoQ YoY NTD % Amount % Amount % Net Sales $74,918 100.0 $657 0.8 $13,219 17.6 Cost of Sales (42,738) (57.0) 1,325 (2.7) (5,178) 12.1 Gross Profit 32,180 43.0 1,982 5.2 8,041 25.0 Operating Expenses Research and Development Expenses (4,301) (5.7) (134) 2.5 (1,103) 25.6 General and Administrative Expenses (2,151) (2.9) (508) 19.1 (1,019) 47.3 Sales and Marketing Expenses (994) (1.4) (90) 7.7 (280) 28.2 Total Operating Expenses (7,446) (10.0) (732) 8.0 (2,402) 32.3 Income from Operations 24,734 33.0 1,250 4.3 5,639 22.8 Non-Operating Income, Net 2,802 3.7 (147) (7.8) (1,077) (38.5) Investment Gains 488 0.7 (298) (51.6) (209) (42.8) Income before Income Tax 28,024 37.4 805 2.6 4,353 15.5 Income Tax (Expenses) Benefits (2,394) (3.2) (167) 5.0 (1,109) 46.3 Net Income 25,630 34.2 638 2.3 3,244 12.7 Minority Interests (146) (0.2) (10) 11.7 43 (29.3) Net Income Attributable to Shareholders of the Parent 25,484 34.0 628 2.2 3,287 12.9 Earnings per Share -- Diluted $0.96 -- $0.02 2.1 $0.16 16.3 Earnings per ADR -- Diluted (2) $4.82 -- $0.12 2.1 $0.79 16.3 Weighted Average Outstanding Shares -- Diluted ('M) 26,409 -- -- -- -- -- Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NT$30.437 for the second quarter of 2008. (2) 1 ADR equals 5 ordinary shares. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Audited Consolidated Condensed Income Statements

For the Six Months Ended June 30, 2008 and 2007 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)

Except for Per Share Amounts and Shares Outstanding) For the Six Months Ended June 30 2008 USD NTD % Net Sales $5,663 $175,617 100.0 Cost of Sales (3,133) (97,156) (55.3) Gross Profit 2,530 78,461 44.7 Operating Expenses Research and Development Expenses (344) (10,674) (6.1) General and Administrative Expenses (188) (5,833) (3.3) Sales and Marketing Expenses (80) (2,458) (1.4) Total Operating Expenses (612) (18,965) (10.8) Income from Operations 1,918 59,496 33.9 Non-Operating Income, Net 116 3,596 2.0 Investment Gains 28 857 0.5 Income before Income Tax 2,062 63,949 36.4 Income Tax (Expenses) Benefits (220) (6,839) (3.9) Net Income 1,842 57,110 32.5 Minority Interest (7) (196) (0.1) Net Income Attributable to Shareholders of the Parent 1,835 56,914 32.4 Earnings per Share -- Diluted $0.07 $2.22 -- Earnings per ADR -- Diluted (2) $0.36 $11.08 -- Weighted Average Outstanding Shares -- Diluted ('M) -- 25,676 -- Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD 31.012 for the six months ended June 30, 2008. (2) 1 ADR equals 5 ordinary shares. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Audited Consolidated Condensed Income Statements

For the Six Months Ended June 30, 2008 and 2007 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD) (1)

Except for Per Share Amounts and Shares Outstanding) (Continued) For the Six Months Ended June 30 2007 YoY NTD % Amount % Net Sales $139,815 100.0 $35,802 25.6 Cost of Sales (83,025) (59.4) (14,131) 17.0 Gross Profit 56,790 40.6 21,671 38.2 Operating Expenses Research and Development Expenses (8,243) (5.9) (2,431) 29.5 General and Administrative Expenses (4,053) (2.9) (1,780) 43.9 Sales and Marketing Expenses (1,883) (1.3) (575) 30.5 Total Operating Expenses (14,179) (10.1) (4,786) 33.7 Income from Operations 42,611 30.5 16,885 39.6 Non-Operating Income, Net 4,632 3.3 (1,036) (22.4) Investment Gains 849 0.6 8 0.9 Income before Income Tax 48,092 34.4 15,857 33.0 Income Tax (Expenses) Benefits (3,501) (2.5) (3,338) 95.3 Net Income 44,591 31.9 12,519 28.1 Minority Interest (268) (0.2) 72 (26.9) Net Income Attributable to Shareholders of the Parent 44,323 31.7 12,591 28.4 Earnings per Share -- Diluted $1.68 -- $0.54 32.1 Earnings per ADR -- Diluted (2) $8.39 -- $2.69 32.1 Weighted Average Outstanding Shares -- Diluted ('M) 26,409 -- -- -- Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD 31.012 for the six months ended June 30, 2008. (2) 1 ADR equals 5 ordinary shares. TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flows For the Six Months Ended June 30, 2008 and for the Three Months Ended

June 30, 2008, March 31, 2008, and June 30, 2007 (Expressed in Millions of New Taiwan Dollars (NTD) and U.S. Dollars (USD)) (1)

Six Months 2Q 1Q 2Q 2008 2008 2008 2007 (Audited) (Unaudited)(Unaudited)(Unaudited) USD NTD NTD NTD NTD Cash Flows from Operating Activities: Net Income $1,835 $56,914 $28,771 $28,143 $25,484 Net Income Attributable to Minority Interest 6 196 103 93 146 Depreciation & Amortization 1,285 39,865 20,034 19,831 19,616 Deferred Income Tax 55 1,715 1,280 435 371 Equity in Earnings of Equity Method Investees, Net (28) (857) (280) (577) (488) Changes in Working Capital & Others (2) 147 4,513 (4,857) 9,370 (10,478) Net Cash Provided by Operating Activities 3,300 102,346 45,051 57,295 34,651 Cash Flows from Investing Activities: Acquisitions of: Marketable Financial Instruments (920) (28,537) (14,635) (13,902) (14,234) Investments Accounted for Using Equity Method -- -- -- -- -- Property, Plant and Equipment (1,212) (37,587) (22,274) (15,313) (25,345) Financial Assets Carried at Cost (10) (303) (90) (213) (218) Proceeds from Disposal or maturity of: Marketable Financial Instruments 2,214 68,656 41,840 26,816 30,013 Investments Accounted for Using Equity Method -- -- -- -- -- Property, Plant and Equipment 1 31 30 1 10 Financial Assets Carried at Cost 4 128 35 93 -- Others (62) (1,917) (1,310) (607) (383) Net Cash Provided by (Used In) Investing Activities 15 471 3,596 (3,125) (10,157) Cash Flows from Financing Activities: Decrease in Guarantee Deposits (17) (535) (164) (371) (418) Proceeds from Exercise of Stock Options 6 172 91 81 175 Bonus Paid to Directors and Supervisors -- -- -- -- (286) Repayment of Long-Term Bonds Payable -- -- -- -- -- Cash Dividends Paid for Common Stock -- -- -- -- -- Repurchase of Treasury Stock (312) (9,669) (6,615) (3,054) -- Cash Bonus Paid to Employees -- -- -- -- -- Others (3) (101) (159) 58 2 Net Cash Used in Financing Activities (326) (10,133) (6,847) (3,286) (527) Net Increase in Cash and Cash Equivalents 2,989 92,684 41,800 50,884 23,967 Effect of Exchange Rate Changes and Others (2) (75) (2,324) (731) (1,593) (850) Cash and Cash Equivalents at Beginning of Period 3,063 94,986 144,277 94,986 140,274 Cash and Cash Equivalents at End of Period $5,977 $185,346 $185,346 $144,277 $163,391 Note: (1) Amounts in New Taiwan dollars have been translated into U.S. dollars at the weighted average rate of NTD 31.012 for the six months ended June 30, 2008. (2) Certain prior period balances have been reclassified to conform to the current period presentation. Safe Harbor Notice:

The statements included in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. TSMC cautions readers that forward-looking statements are subject to significant risks and uncertainties and are based on TSMC's current expectations. Actual results may differ materially from those contained in such forward-looking statements for a variety of reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor industry; demand and supply for TSMC's foundry manufacturing capacity in particular and for foundry manufacturing capacity in general; intense competition; the failure of one or more significant customers to continue to place the same level of orders with us; TSMC's ability to remain a technological leader in the semiconductor industry; TSMC's ability to manage its capacity; TSMC's ability to obtain, preserve and defend its intellectual property rights; natural disasters and other unexpected events which may disrupt production; and exchange rate fluctuations. Additional information as to these and other risk factors that may cause TSMC's actual results to differ materially from TSMC's forward-looking statements may be found in TSMC's Annual Report on Form 20-F, filed with the United States Securities and Exchange Commission (the "SEC") on April 15, 2008, and such other documents as TSMC may file with, or submit to, the SEC from time to time. Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

CONTACT: Elizabeth Sun or Harrison Hsueh Investor Relations Division TSMC Tel: +886-3-568-2085 or +886-3-568-2088 Email: invest@tsmc.com

Taiwan Semiconductor Manufacturing Company Limited

CONTACT: Elizabeth Sun or Harrison Hsueh, +886-3-568-2085, or
+886-3-568-2088, invest@tsmc.com, all of TSMC

Eutelsat Communications Reports 2007-2008 Results Exceeding Objectives

PARIS, July 31 /PRNewswire-FirstCall/ --

- Sustained Revenue Growth (up 5.9%) Driven by Strong Dynamic of Video Applications and Value-Added Services - 20% Increase of TV Channels Broadcast by Eutelsat's Fleet - 20% Increase of D-STAR Broadband Terminals - EBITDA(1) Margin at 79.3%, the Highest in the Fixed Satellite Services Sector(2) - Solid Improvement in net cash Flow From Operating Activities: +7.4%, Representing More Than 64.5% of 2007-2008 Revenues - Increase in Net Income Group Share : +8.1% - Proposed Distribution to Shareholders of 0.60 EUR per Share, Representing a Pay-Out Ratio of 76.5% - Mid-Term Growth Objectives Revised Upwards

Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL), one of the world's leading satellite operators, today reported results for the full year ended June 30, 2008.

Twelve months ended June 30 2007 2008 Change Key elements of the consolidated income statement Revenues EURm 829.1 877.8 +5.9% EBITDA EURm 652.6 695.7 +6.6% EBITDA margin % 78.7 79.3 +0.6pt Group share of net income EURm 159.4 172.3 +8.1% Diluted earnings per share EUR 0.718 0.789 +9.9% Key elements of the consolidated cash flow statement Net cash flow from operating activities EURm 527.7 566.6 +7.4% Capital expenditure EURm 350.1 422.5 +20.7% Operating free cash flow EURm 177.6 144.1 -18.9% Key elements of financial structure Net debt EURm 2,295 2,422 +5.5% Net debt/EBITDA X 3.52 3.48 - Key operational metrics Leased transponders Units 404 468 +15.8% Fill rate % 80.0% 93.4% NM

Commenting on the full year 2007-2008 results, Giuliano Berretta, Chairman and CEO of Eutelsat Communications said: "In the 2007-2008 fiscal year, our Group continued to distinguish itself with the excellence of our financial, operating and technology achievements and to maintain its position worldwide as the most profitable operator in the Fixed Satellite Services sector.

This performance enables us to pursue one of the industry's most important investment programmes, with seven satellites to launch by end 2010 and also to offer shareholders an attractive remuneration. We will submit for approval at the next Annual General Assembly a distribution of 0.60 euro per share, representing a pay-out ratio of 76.5%.

A number of significant contracts underscore our commercial achievements, notably for capacity at our 9 degrees East video neighbourhood less than one year after it was opened for business. Customers at this new neighbourhood can capitalise on the benefits of the audience of our HOT BIRD(TM) position, which is the market leader worldwide for the number of channels broadcast. Emerging markets in our Second Continent have also experienced continued strong growth. Our major video neighbourhoods, which in particular address these markets, are now broadcasting over 1,500 channels, matching the success of the HOT BIRD(TM) and EUROBIRD(TM) 1 neighbourhoods in Europe. In total, our satellites are now broadcasting over 3,120 channels.

We have also strengthened our positioning in Value-Added Services. Our TOOWAY(TM) service, which is designed to take consumer satellite broadband to the same level as ADSL in terms of cost and speed, remains unique from a technology standpoint. The first contracts for Tooway(TM) from telecommunications operators and regional institutions strengthen our confidence in our KA-SAT satellite as an engine for growth in broadband markets from 2010.

We are committed to pursuing our strategy of innovation, expansion and securing our in-orbit infrastructure in order to further strengthen our orbital positions. Given the favourable outlook in our targeted markets of western Europe and our Second Continent, we are raising our mid-term compound average growth objective to 6% for the 2008-2011 period, and are consequently targeting revenues of more than one billion euros in fiscal year 2010-2011."

SUSTAINED REVENUE GROWTH - Growth driven by the dynamic of Video Applications (+10%) - Market position over our First Continent(3) strengthened by success of 9 degrees East neighbourhood - Strong business development in the Second Continent(4) - Strong growth of Value Added Services (+11%)

Full year 2007-2008 revenues rose 5.9% to 877.8 million euros compared with the full year 2006-2007 which included 11.4 million euros of late delivery penalties for HOT BIRD(TM) 7A. Excluding this non-recurring item, revenue growth was 7.3%(5).

Revenues by business application (in millions of euros) Change Twelve months ended June 30 2007 2008 In EUR In % million Video Applications 590.4 649.4 +58.9 +10.0% Data & Value Added Services 159.0 152.5 -6.5 -4.1% Data Services 127.6 117.8 -9.8 -7.7% Value Added Services 31.4 34.7 +3.3 +10.6% Multi-usage 59.1 58.1 -1.0 -1.7% Others 9.2 17.8 +8.6 NM Sub-total 817.7 877.8 +60.1 +7.3% One-off revenues(6) 11.4 - -11.4 NM Total 829.1 877.8 +48.7 +5.9% A business portfolio focused on Video Applications

The Group's policy of prioritising the allocation of available capacity to the most profitable activities has seen the share of Video Applications in the revenue mix exceed 75%.

Business portfolio (in percentage of revenues)* Twelve months ended June 30 2007 2008 Video Applications 73.0% 75.5% Data & Value Added Services 19.7% 17.7% ........ Data Services 15.8% 13.7% .........Value Added Services 3.9% 4.0% Multi-usage 7.3% 6.8% Total 100% 100%

* excluding other revenues and one-off revenues of 20.6 million euros in 2006-2007 and 17.8 million revenues in 2007-2008

Video Applications up 10%

With 3,123 channels and interactive services broadcast through Eutelsat's fleet at June 30, 2008, up by almost 20% (515 channels) year-on-year, the Group confirms its leadership for satellite video broadcasting in Extended Europe(7).

The 58.9 million euro increase in Video Applications, to almost 650 million euros, reflects in particular:

- Commercial success of the new 9 degrees East video neighbourhood and the leadership of the premium HOT BIRD(TM) video neighbourhood; - Sustained demand from emerging markets in the Second Continent; - Take-up of High Definition Television (HDTV). Position strengthened in key markets of our First Continent Key highlights of the fiscal year are: - Immediate commercial success of the new 9 degrees East video neighbourhood, where EUROBIRD(TM) 9 broadcasts 125 channels one year after entering into service.

EUROBIRD(TM) 9 was selected by TeleColumbus, Germany's third largest cable operator, to broadcast a platform of private digital channels to accelerate the transition of Germany's cable market from analogue to digital. EUROBIRD(TM) 9 was also been chosen by the new Hungarian HDTV platform, Hello HD.

- The launch in France, of the BIS pay-TV platform at the 13 degrees East (HOT BIRD(TM)) and 5 degrees West (ATLANTIC BIRD(TM) 3) neighbourhoods, and the decision by Orange, a world leader in TV over ADSL, to use the same neighbourhoods to offer homes the TV component of its triple play offer (telephone, Internet, TV) where it is not accessible via ADSL. - Confirmation of the leadership of the HOT BIRD(TM) neighbourhood with 1,101 channels broadcast, and notably its strength in: - Poland, where the HOT BIRD(TM) audience has risen by 11% over the last two years to almost 4 million households equipped for Direct-To-Home (DTH) reception, of a total of almost 4.3 million satellite homes(8). - Italy, where the HOT BIRD(TM) audience has increased by 18% over the last two years to 6.1 million households equipped for DTH reception, of a total of 7.1 million satellite homes8. - Greece, where NOVA, the country's leading pay-TV platform renewed during the fiscal year its capacity to 2020 and leased an additional transponder. Strong dynamic of satellite TV in the Second Continent - The 36 degrees East neighbourhood operated with the W4 and SESAT 1 satellites, which serve Russia and Africa, was broadcasting 391 channels at June 30, 2008, up 49% year-on-year.

The Russian and Ukrainian markets were particularly dynamic: the number of households equipped for DTH reception has grown by over 95% over the last two years to 4.7 million homes. Over the same period the audience of the 36 degrees East neighbourhood, whose offer continues to increase, more than doubled to 3.5 million homes, representing over 75% penetration of homes equipped for DTH reception in both countries8.

- The 7 degrees East neighbourhood, which serves Turkey, also experienced strong demand: the number of channels broadcast by W3A increased 15% year-on-year, with the Digiturk platform expanding its HDTV offer to seven channels at June 30, 2008; - The 7/8 degrees West neighbourhood which opened at the beginning of fiscal year 2006-2007 and operates with the ATLANTIC BIRD(TM) 2 and ATLANTIC BIRD(TM) 4 satellites, broadcasts 253 channels. Contracts concluded with anchor clients such as NileSat have enabled the Group to rapidly establish this major video neighbourhood for North Africa and the Middle East. Number 1 for HDTV in Extended Europe - The number of commercial HDTV channels broadcast by Eutelsat's fleet grew almost threefold year-on-year, to 49 channels at June 30, 2008, compared with 17 commercial channels at June 30, 2007. HDTV channels broadcast by Eutelsat's fleet represent almost half of the total number of 113 HDTV channels broadcasting in Extended Europe at June 30, 2008. This increase came from across all of the Group's markets. At the end of fiscal year 2007-2008, Eutelsat's fleet was broadcasting: - 21 HDTV channels from its premium HOT BIRD(TM) and EUROBIRD(TM) 1 video neighbourhoods; - 28 HDTV channels from major video neighbourhoods(9) serving emerging markets of which seven channels at 7 degrees East (Turkey), five channels at 36 degrees East (Russia and Africa), five channels at 16 degrees East (central Europe) and eight channels at the new 9 degrees East neighbourhood (western and central Europe). Data and Value Added Services: significant headway in broadband markets

Following reallocation to Video Applications, mainly during the previous fiscal year, of capacity that became available upon the expiry of certain contracts, revenues from Data Services were down by 9.8 million euros year-on-year, to 117.8 million euros. However, Data Services revenues stabilised over the last two quarters owing to activation of new contracts with telecommunications and business network operators such as Orascom (Algeria), BT Turkey (Turkey), Siemens (Germany), Telespazio (Italy) and GulfSat (Middle East).

Value Added Services revenues continued to post sustained growth (up 10.6%) to 34.7 million euros. They were mainly driven by the following factors:

- Entry into service of 1,478 D-STAR(TM)(10) terminals for enterprises and institutions, taking the overall installed based to 8,902 activated terminals at June 30, 2008 (up 20% year-on-year). This increase was driven by emerging markets, such as the Middle East (up 32% to 2,011 terminals) and Africa (up 13% to 3,255), as well as by Europe (up 21% to 3,494). - Commercial launch in seven countries of the TOOWAY(TM)(11) consumer broadband service for homes located at the edge of terrestrial networks, notably with the contract concluded with the telecommunications operator Swisscom for provision of a far-reaching universal broadband programme for all Swiss households. - Roll-out of a multimedia portal and Internet access service developed in partnership with Orange, Cap Gemini and Alstom for passengers on TGV East high-speed trains operated by France's SNCF. Multi-usage: new contracts

Revenues from Multi-usage services decreased slightly with the depreciation of the US dollar against the Euro. At a constant exchange rate revenue would have risen by 12%, reflecting the conclusion of new capacity lease contracts and renewal of almost all contracts which expired during fiscal year 2007-2008.

Other revenues: at an exceptionally high level

Other revenues amounted to 17.8 million euros in fiscal year 2007-2008: this almost two-fold year-on-year increase is mainly attributable to gains from Euro/US$ hedging instruments (9.9 million euros), and to the settlement of a commercial litigation (1.4 million euros) during the first half 2007-2008.

EXCELLENT operating INDICATORS Nearly 4 years of revenues secured by backlog Main backlog(12) indicators As of June 30 2005 2006 2007 2008 Value of contracts (in billion euros) 3.1 4.0 3.7 3.4 Weighted average residual life of 7.0 7.7 7.3 7.4 contracts (in years) Share of Video Applications 87% 92% 92% 93%

The total backlog and its composition provide the Group with exceptional long-term visibility on both revenues and operating cash flows: at 3.4 billion euros, it represents almost four times annual revenues. Compared with one year ago, the slight erosion of backlog reflects a higher average fleet age, a major part of the backlog being composed of contracts which are generally concluded or renewed upon entry into service of new satellites for their entire operational life.

Record 93.4% fill rate Capacity operating in stable orbit and number of leased transponders As of June 30 30/06/05 30/06/06 30/06/07 30/06/08 Operational transponders(13) 474 462 505 501 Leased transponders 343 373 404 468 Fill rate (%)(14) 72.3% 80.7% 80.0% 93.4%

The Group's strong commercial performance, which was marked by the lease of 64 additional transponders at June 30, 2008 compared to June 30, 2007 mainly reflects:

- Commercial take-up of the new 9 degrees East video neighbourhood. This orbital position, which can be combined with the HOT BIRD(TM) neighbourhood for channel reception with a single double-feed antenna, benefits from the strength of the HOT BIRD(TM) neighbourhood which is a world-leader in terms of channels broadcast; - Strong growth in the Second Continent, notably in Russia and Africa; - Leadership of the Group's premium HOT BIRD(TM) and EUROBIRD(TM) 1 neighbourhoods.

The decrease of the number of operational transponders from 505 units at June 30, 2007, to 501 at June 30, 2008, is due to the technical incident on the W5 satellite(15) in June 2008, which resulted in the switch-off of four transponders.

With these factors, the fill rate stood at 93.4% at June 30, 2008. FURTHER IMPROVEMENT OF PROFITABILITY INDICATORS - The record EBITDA margin of the sector : 79.3% - Group share of net income up 8.1%, with improvement of profitability indicators Extract from the consolidated income statement (in millions of euros)(16) Twelve months ended June 30 2007 2008 Variation % Revenues 829.1 877.8 +5.9% Operating expenses(17) (176.5) (182.1) +3.1% EBITDA 652.6 695.7 +6.6% Depreciation and amortisation(18) (300.8) (300.9) - Other operating revenues (costs) 10.8 (16.0) NM Operating income 362.5 378.8 +4.5% Financial result (108.2) (109.1) +0.9% Income tax (92.2) (97.5) +5.8% Income from equity investments 7.9 11.2 +42.3% Minority interests (10.6) (11.1) +5.0% Group share of net income 159.4 172.3 +8.1% Record EBITDA margin at 79.3%

Up 3.1%, operating expenses were contained to 20.7% of revenues owing to continued tight control over cost structure.

As a result, EBITDA was up 6.6% year-on-year and the EBITDA margin increased 0.6 percentage points to 79.3%, putting the Group at the highest level among leading Fixed Satellite Service operators2 for the third consecutive fiscal year.

Continued increase in operating income, up 4.5%

Stable depreciation and amortisation expenses are due to accounting over the entire fiscal year of the depreciation allowance for HOT BIRD(TM) 8 which was offset by the decrease in depreciation expenses related to EUROBIRD(TM) 4 (formerly HOT BIRD(TM) 3), following the impairment booked in the previous fiscal year.

Other operating revenues (costs)(19) include a 12.0 million euro impairment of EUROBIRD(TM) 3 and a 7.9 million euro expense corresponding to the dilution from the exercise of stock options granted by Eutelsat SA. These items were partly compensated by 3.9 million euros of revenue corresponding to insurance compensation settlements.

Consequently, operating income is up by 16.3 million euros, to 378.8 million euros.

Continued strong progress for Group share net income: +8.1%

The 12.9 million euro year-on-year increase in Group share net income is also attributable to:

- Stable financial result despite increased average net debt, thanks to: - lower average cost of debt, down from 4.00% in 2006-2007 to 3.87% in 2007-2008 taking into account the effect of interest rates hedging instruments, - optimisation of treasury management. - Strong growth of income from equity investments reflecting the excellent commercial and operating performance of Hispasat, the leading satellite operator in Spanish and Portuguese-language markets, of which Eutelsat owns 27.69%. STRONG INCREASE IN OPERATING CASH FLOWS - High level of net cash flow from operating activities: more than 64% of revenues - Important investment programme, largely self-financed - Balance sheet structure maintained with net debt contained at 3.48 times EBITDA - Financial debt optimised and hedged Significant increase in net cash flow from operating activities: +7.4%

With net cash flow from operating activities exceeding 60% of revenues for the third consecutive fiscal year (64.5% in 2007-2008), Eutelsat demonstrates the strength of its business model which compares to an infrastructure business model.

Capital expenditures increased by 20.6% to 422.5 million euros. They were dedicated (in descending order) to:

- Construction of the HOT BIRD(TM) 9, HOT BIRD(TM) 10, W2M, W2A and W7 satellites which were ordered during previous fiscal years. - Equity contribution to Solaris Mobile Ltd., the affiliate jointly held with SES, in charge of operating and marketing the S-band payload on W2A. - Initial payments for the KA-SAT and W3B satellites which were ordered in 2007-2008. - Financing of corresponding launches and the conclusion of an insurance package "launch plus one year in orbit" covering the seven satellites currently in construction.

Up 7.4% to 566.6 million euros, net cash flow from operating activities largely funded capital expenditures. After settlement of these investments free cash flow was 144.1 million euros.

Optimised financial debt maintaining balanced financial structure Leverage ratio As of June 30 2007 2008 Net debt at the beginning of the year (in million 2,228 2,295 euros) Net debt at the end of the year (In million euros) 2,295 2,422 Net debt / EBITDA 3.52 3.48

During the fiscal year, the Group increased its ownership of its privately-held operating subsidiary Eutelsat SA from 95.25% of the share capital at June 30, 2007, to 95.91% at June 30, 2008. In total, financial investments amounted to 47.7 million euros.

Despite higher investments, capital expenditure and distribution to the Group's shareholders (up 12% to almost 140 million euros), the net debt(20) to EBITDA ratio has decreased to 3.48x, well within the objective of between 3x and 4x.

The financial debt is subject to repayment in fine, with average residual maturity of 4.2 years(21), and is largely hedged against interest rate fluctuations. Moreover, under the existing debt agreements, the Group has additional debt facility of 790 million euros.

ACTIVE INVESTMENT POLICY

Eutelsat has pursued its investment programme which is focused on further securing certain key neighbourhoods, expanding the capacity of its fleet and developing innovative services, notably for broadband markets.

During the fiscal year the Group ordered two satellites in addition to the five satellites which were already in construction:

- W3B: to be copositioned at 7 degrees East with W3A, this 56 transponder Ku-band satellite will provide sparing capacity and increase the number of transponders at this neighbourhood. - KA-SAT: Europe's first Ka-band multi-spotbeam satellite, this high-power satellite is designed to support large-scale deployment of Eutelsat's TOOWAY(TM) service which was launched at the beginning of the 2007-2008 fiscal year using four Ka-band transponders on the HOT BIRD(TM) 6 satellite. KA-SAT will be able to deliver satellite broadband services, which are comparable to ADSL in terms of speed and cost, to more than one million households across Europe and the Mediterranean Basin located at the edge of terrestrial networks. ATTRACTIVE SHAREHOLDER REMUNERATION

On the July 30, 2008 Board of Directors decided to submit to the approval of shareholders the distribution of 0.60 euro per share to be taken from the "Share Premium", compared with 0.58 euro for fiscal year 2006-2007, representing a pay-out ratio of 76.5%.

Going forward, Eutelsat Communications policy is to distribute to its shareholders between 50% and 75% of Group share of net income.

MARKET TRENDS IN EXTENDED EUROPE: more than 5% GROWTH

The demand for capacity for satellite-based services in Extended Europe is expected to post a compound average growth rate of 5.1%(22) during the period 2007-2012. Sustained demand across the Group's markets will be driven mainly by:

- Solid growth of Video Applications in the Second Continent, where Eutelsat is already strongly positioned, with 2007-2012 compound average growth rate estimated to exceed 6.5%; - Progressive development of HDTV, to more than 480 channels in 2012; - Continuous demand for satellite capacity for corporate networks and broadband access in Extended Europe.

These forecasts lend further credibility to the Group's strategy to target the most profitable services: Video Applications and Value-Added Services.

GROUP PERSPECTIVES: objective of revenues of OVER ONE BILLION EUROS FOR 2010-2011

Given its perspectives and its satellite launch schedule, the Group revises upward its three-year revenue objective and now targets revenues above one billion euros in fiscal year 2010-2011(23).

This objective corresponds to a three-year (2008-2009 to 2010-2011) compound average growth rate of 6%(24), accelerating from 2009-2010 onwards.

The Group maintains its EBITDA margin objective above 77% over this period.

During the period, the Group expects to launch the seven satellites currently in construction. Together with continued dynamic management of its in-orbit resources, this active investment policy is expected to bring the number of operational transponders to 664 at June 30, 2011 (excluding KA-SAT and S-band capacity). Over the same period, the Group also expects to initiate investments aiming at replacing four satellites launched in the period 1998-2000.

The Group therefore confirms an average annual capital expenditure objective of 450 million euros through 2008-2011.

2008-2009 objectives

At the end of its 2007-2008 fiscal year Eutelsat is ahead of the three-year objectives disclosed in November 2007. As a result of this performance, the fill rate of the fleet has reached a record level of more than 93% at June 30, 2008.

Given the progressive entry into service of additional satellite capacity expected during the second half of 2008-2009, the Group is confident of exceeding 900 million euros of turnover for fiscal year 2008-2009.

Finally, the Group intends to maintain its profitability at the highest level of its sector and targets an EBITDA margin above 78% for 2008-2009.

Consolidated accounts are available at http://www.eutelsat.com/ Analysts and Investors Conference call

Eutelsat Communications will hold a conference call in English for analysts and investors to present its financial results for the full year 2007-2008. The call will start on July 31 at 3pm Paris time (New York: 9am, London: 2pm). The call-in numbers are:

01-70-99-42-95 (from France) +44-20-7806-1966 (from Europe) +1-718-354-1390 (from US)

A replay will be available from July 31 at 7pm to August 7, midnight, by dialling:

01-71-23-02-48 (from France) +44-207-806-1970 (from Europe) +1-718-354-1112 (from US) Access code: 7493134#

A presentation will be available on the Group's website http://www.eutelsat.com/ from 8am (Paris time) on July 31, 2008.

Financial calendar - November 4, 2008: financial report for quarter ended September 30, 2008 - November 6, 2008: shareholders general meeting.

The above financial calendar is provided for information purposes only. It is subject to change and will be regularly updated.

About Eutelsat Communications

Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is the holding company of Eutelsat S.A.. With capacity commercialised on 24 satellites that provide coverage over the entire European continent, as well as the Middle East, Africa, India and significant parts of Asia and the Americas, Eutelsat is one of the world's three leading satellite operators in terms of revenues. At 30 June 2008, Eutelsat's satellites were broadcasting more than 3,120 television channels and 1,100 radio stations. More than 1,100 channels broadcast via its HOT BIRD(TM) video neighbourhood at 13 degrees East which serves over 120 million cable and satellite homes in Europe, the Middle East and North Africa. The Group's satellites also serve a wide range of fixed and mobile telecommunications services, TV contribution markets, corporate networks, and broadband markets for Internet Service Providers and for transport, maritime and in-flight markets. Eutelsat's broadband subsidiary, Skylogic, markets and operates services through teleports in France and Italy that serve enterprises, local communities, government agencies and aid organisations in Europe, Africa, Asia and the Americas. Headquartered in Paris, Eutelsat and its subsidiaries employ 538 commercial, technical and operational experts from 27 countries.

http://www.eutelsat.com/ Appendix Quarterly revenues by business application (fiscal year 2006-2007) Three months ended In millions of euros 30/09/2006 31/12/2006 31/03/2007 30/06/2007 Video Applications 142.8 147.0 148.9 151.8 Data & Value Added 40.8 40.8 39.2 38.2 Services Multi-usage 14.7 14.8 15.1 14.6 Other 1.3 1.9 2.5 3.6 Sub-total 199.5 204.4 205.7 208.1 One-off revenues - 11.4 - - Total 199.5 215.8 205.7 208.1 Quarterly revenues by business application (fiscal year 2007-2008) Three months ended In millions of euros 30/09/2007 31/12/2007 31/03/2008 30/06/2008 Video Applications 158.1 161.2 164.9 165.2 Data & Value Added 37.2 37.7 40.0 37.5 Services Multi-usage 14.5 15.0 14.2 14.3 Other 2.0 3.6 4.8 7.4 Sub-total 211.9 217.5 223.9 224.4 One-off revenues - - - - Total 211.9 217.5 223.9 224.4 Annual revenues by business application Twelve months ended In millions of euros 30/06/2005 30/06/2006 30/06/2007 30/06/2008 (pro forma) Video Applications 511.3 528.6 590.4 649.4 Data & Value Added Services 161.7 169.1 159.0 152.5 Data Services 137.3 139.2 127.6 117.8 Value Added Services 24.4 29.9 31.4 34.7 Multi-usage 60.8 69.7 59.1 58.1 Other 5.9 6.3 9.2 17.8 Sub-total 739.7 773.7 817.7 877.8 One-off revenues 10.7 17.4 11.4 - Total 750.4 791.1 829.1 877.8 Change in net debt (in millions of euros) Twelve months ended June 30 2007 2008 Variation (%) Net cash flow from operating activities 527.7 566.6 +7.4% Capital expenditure (350.1) (422.5) +20.7% Operating free cash flow(25) 177.6 144.1 -18.9% Interest and other fees paid, net (82.6) (87.3) +5.7% Acquisition of minority interests (19.9) (47.7) +139.7% Capital increase 2.7 0.1 NS Distributions to shareholders (including (124.3) (138.9) +11.8% minority interests) Other(26) (20.4) 3.2 NS Decrease (increase) in net debt (66.9) (126.5) NS Number of channels broadcast by Eutelsat's fleet Change over 1 year As of June 30 2007 2008 In units In % Premium video neighbourhoods(27) 1,381 1,422 +41 +3.0% Major video neighbourhoods(28) 1,113 1,535 +422 +37.9% Other orbital positions(29) 114 166 +52 +45.6% Total 2,608 3,123 +515 +19.7% Satellite launch schedule Satellite Estimated launch period Transponders HOT BIRD(TM) 9 October 2008 64 Ku W2M November 2008 26 Ku HOT BIRD(TM) 10 Jan.-Mar. 2009 64 Ku W2A Jan.-Mar. 2009 46 Ku / 10 C / S-band W7 Jun.-Aug. 2009 70 Ku KA-SAT Mid-2010 > 80 spotbeams Ka W3B Mid-2010 53 Ku / 3 Ka

Note: New satellites generally enter into service one to two months after launch date.

---------------------------------

(1) EBITDA is defined as operating income before depreciation, amortisation and other operating income/charges (impairment charges, dilution profits (losses), insurance compensations, etc.).

(2) Eutelsat Communications, Intelsat, SES, Telesat (3) Western Europe and Poland

(4) Central and eastern Europe, Russia, Middle East, North Africa and Sub-Saharan Africa

(5) At a constant exchange rate and excluding non-recurring revenues growth was 9.5%

(6) Non-recurring revenues comprise late delivery penalties and outage penalties

(7) Europe, Russia, Middle East, Africa (8) Source : Eutelsat 2008 survey of satellite and cable homes.

(9) Major neighbourhoods are: 7/8 degrees West (Middle East, North Africa), 5 degrees West (France, North Africa and Sub-Saharan Africa), 7 degrees West (Turkey), 9 degrees East (Western and Central Europe), 16 degrees East (Eastern Europe and Balkans), 25.5 degrees East (Middle East), 36 degrees East (Russia, Africa )

(10) The D- STAR service provides Internet access and Virtual Private Networks to enterprises and institutions in regions with inexistent or unreliable terrestrial broadband infrastructure.

(11) The TOOWAY(TM) service, both in Ka-band and Ku-band, provides broadband access to households located at the edge of terrestrial networks.

(12) Backlog represents future revenues from capacity lease agreements (including contracts for satellites yet to be delivered). These capacity lease agreements can be for the entire operational life of the satellites.

(13) Number of Eutelsat's fleet transponders in stable orbit.

(14) The utilisation rate is based on Eutelsat's fleet capacity in stable orbit, excluding capacity on Telecom 2D and Telecom 2C which are both in inclined orbit.

(15) See press release dated June 17, 2008.

(16) For more detail, please refer to Group consolidated accounts at http://www.eutelsat.com/.

(17) Operating expenses are defined as the sum of cost of operations and of sales & administrative expenses.

(18) Comprises amortisation expense of 44.45 million euros corresponding to the intangible asset "Customer Contracts and Relationships" identified during the acquisition of Eutelsat S.A. by Eutelsat Communications.

(19) In the fiscal year ended on June 30, 2007, other operating revenues & costs mainly included 37.5 million euros income related to insurance compensations and a 25.0 million euros impairment of EUROBIRD(TM) 4 following a technical incident.

(20) Net debt includes all bank debt and all liabilities from long-term lease agreements, less cash and cash equivalents and marketable securities (net of bank credit balances).

(21) The debt is made of two tranches which are repayable in November 2011 and June 2013, respectively.

(22) Source Euroconsult

(23) Given that Solaris Mobile Ltd, the 50% owned subsidiary in charge of operating and marketing the S-band payload on W2A, is consolidated under the equity method of accounting.

(24) Based on 2007-2008 revenues excluding revenues from EUR/US$ hedging gains (9.9 million euros).

(25) Operating free cash flow is defined as net cash flow from operating activities less acquisition of satellites and other property, plant and equipment, net of disposals.

(26) In 2007-2008, includes 18 million euros of proceeds from exercise of stock options by minority shareholders of Eutelsat SA and 1.5 million euros of dividends received from Hispasat in 2007 partly offset by the repayments in respect of performance incentives.

(27) HOT BIRD(TM) at 13 degrees East (Europe) and EUROBIRD(TM) 1 at 28.5 degrees East (United Kingdom & Ireland).

(28) 7/8 degrees West (Middle East, North Africa), 5 degrees West (France, North Africa and Sub-Saharan Africa), 7 degrees East (Turkey), 9 degrees East (Western and Central Europe), 16 degrees East (Eastern Europe and Balkans), 25.5 degrees East (Middle East) and 36 degrees East (Russia, Africa).

(29) Used for video contributions and professional video networks. For further information Press Vanessa O'Connor, Tel: +33-1-53-98-38-88, voconnor@eutelsat.fr Frederique Gautier, Tel: +33-1-53-98-38-88, fgautier@eutelsat.fr Investors Gilles Janvier , Tel: +33-1-53-98-35-30, investors@eutelsat-communications.com

Eutelsat Communications

CONTACT: For further information: Press: Vanessa O'Connor, Tel: +
33-1-53-98-38-88, voconnor@eutelsat.fr;Frederique Gautier, Tel:
+33-1-53-98-38-88, fgautier@eutelsat.fr; Investors: Gilles Janvier , Tel:
+33-1-53-98-35-30, investors@eutelsat-communications.com

Nokia to Invest an Additional USD 150 Million Through Nokia Growth PartnersTargets Innovators in Software and Services

MENLO PARK, California, July 31 /PRNewswire-FirstCall/ -- Nokia Growth Partners, a global private equity and venture capital management firm, today announced an additional commitment of USD 150 million from Nokia, increasing funds under management for direct investments to USD 250 million. Nokia began sponsoring funds and promoting venture investments in 1998 as a catalyst for innovation in the mobile industry. Nokia commitments to venture funding activities to date exceed USD900 million.

Building on a track record of successful investments, Nokia Growth Partners, launched in 2004, will now establish direct operations in India and China and augment investment activity in the U.S. and Europe. With the additional investment announced today, Nokia Growth Partners will continue pursuing investments that are of strategic relevance to Nokia, and or complementary to their strategy.

In addition to its direct investment activities, Nokia Growth Partners will advise on Nokia's other venture capital fund investments. Both of these activities focus on promising companies seeking change in the mobile landscape. Target investments include companies creating innovative mobile applications and services that encourage rapid adoption of mobile solutions, such as context and location based services, mobile payments, mobile advertising, music and entertainment and other mobile services and software.

"Over the past decade, Nokia has developed an innovative, systematic and sustainable private equity and venture capital strategy", says Rick Simonson, Executive Vice President & Chief Financial Officer of Nokia. "Our funds are structured to reinforce the primary responsibility of any fund manager: to deliver superior return on investment. For the funds we invest in, the prospect of partnerships and insights that come from close alignment with Nokia set us apart from pure financial investors. This increase of our commitment to Nokia Growth Partners is aligned with our strategic focus on consumer Internet services, reflecting the increased role that Nokia Growth Partners will play in our future success."

During the past year, Nokia has also developed close working relationships with selected venture funds in which it has invested, in addition to those investments under direct management. These include:

- BlueRun Ventures - early stage venture, global - Founders Fund - early stage venture, U.S. - Gobi Partners - early stage IT and digital media fund, China - Magma Venture Partners - early stage semiconductor & communications fund, Israel - Oak Hill Capital Partners - late stage, global private equity & buy-out firm, U.S. - Technology Crossover Ventures - growth/late stage venture fund, U.S.

"Nokia has selected each of these funds based on a strong record of delivering superior returns to investors, demonstrated expertise in relevant markets for Nokia and a strong commitment to work closely with Nokia, to enhance the opportunities for success in the companies in which they invest," said Paul Asel of Nokia Growth Partners.

"Today's announcements underscore the success of Nokia Growth Partners," concludes John Gardner of Nokia Growth Partners. "Nokia's new commitments will more than double our capital under direct management, enabling us to scale globally and better support Nokia strategic interests at a critical time for the industry. Alignment with the global industry leader in mobile devices and a leading innovator in the convergence of mobility and the Internet is a clear advantage for the companies in which we invest."

About Nokia

Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. We make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Developing and growing our offering of consumer Internet services, as well as our enterprise solutions and software, is a key area of focus. We also provide equipment, solutions and services for communications networks through Nokia Siemens Networks.

About Nokia Growth Partners

Nokia Growth Partners is a leading global growth stage venture firm focused on mobile technology, services and media. Nokia Growth Partners is funded by Nokia to provide superior returns and investments into companies, firms, and people that are changing the face of mobility, communications, and the internet. Nokia Growth Partners works closely with the promising companies adding value through deep domain expertise and network in the mobility market combined with many years of venture investment experience. Nokia Growth Partners offers companies in which it invests a global engagement model through its presence in the U.S., Europe and Asia. See http://www.nokiagrowthpartners.com/ for more information.

http://www.nokia.com/

http://www.nokiagrowthpartners.com/

Nokia Corporation

CONTACT: Media Enquiries: Nokia North America Communications, Tel.
+1-914-368-0423, Email: communication.corp@nokia.com; Nokia Communications,
Tel. +358-7180-34900, Email: press.services@nokia.com

LG Announces First Blu-ray Disc Player With Capability to Instantly Stream Movies From Netflix to the TVLG BD300 Network Blu-ray Disc Player to be Unveiled Tonight

NEW YORK, July 31 /PRNewswire-FirstCall/ -- Building on a groundbreaking technology partnership announced earlier this year, LG Electronics and Netflix, Inc. today announced plans for the first Blu-ray disc player that will have the added benefit of being able to instantly stream a growing library of movies and TV episodes from Netflix directly to the TV.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080731/AQTH518-a) (Photo: http://www.newscom.com/cgi-bin/prnh/20080731/AQTH518-b)

Available this fall, the LG BD300 Network Blu-ray Disc Player will play high definition Blu-ray discs, up-convert standard DVDs to 1080p and allow Netflix subscribers to instantly stream more than 12,000 choices of movies and TV episodes from Netflix to the TV for no additional charge.

LG Electronics and Netflix will demonstrate the BD300 Network Blu-ray Disc Player for the first time tonight at LG's 2008 Summer Line Show at Morgan Library and Museum in New York City. (The event is open to invited media only.)

Instantly streaming content from Netflix to the TV via the LG BD300 Network Blu-ray Disc Player will rely on a wired broadband connection and Queue-based user interface. Netflix members will use the Netflix Web site to add movies and TV episodes to their individual instant Queues. Those choices will automatically be displayed on members' TVs and available to watch instantly through the LG player. Once selected, movies will begin playing in as little as 30 seconds. With the BD300's accompanying remote control, Netflix members will be able to browse and make selections right on the TV screen and also have the ability to read synopses and rate movies. In addition, they will have the option of fast-forwarding and rewinding the video stream.

"As Blu-ray player sales are expected to triple in three years, consumers are craving content and seeking a premium home entertainment experience," said LG Electronics USA President Teddy Hwang. "The BD300 is another LG industry first and provides consumers with an advanced high-def disc player with unparalleled flexibility and networked access for services such as Netflix."

Consumers craving more content will appreciate the BD Live feature, which provides real-time interactivity for movie enthusiasts seeking extras, new previews or special content while BonusView provides picture-in-picture access to Blu-ray disc special features. To further personalize and simplify the home theater experience, the BD300 includes LG's SimpLink(TM) technology, which allows users to control similarly equipped LG TV and AV products via convenient on-screen menus or directly from the product itself.

In January, prior to the 2008 International CES(R), LG Electronics and Netflix announced their technology partnership to provide a set-top box for consumers to stream movies and TV episodes from the Internet to the TV beginning in the second half of the year.

"LG Electronics is establishing itself as the innovation leader in consumer electronics, combining the best of broadband and Blu-ray connectivity," said Netflix Co-Founder, Chairman and CEO Reed Hastings. "LG Electronics was the first of our technology partners to publicly embrace our strategy for getting the Internet to the TV, and is the first to introduce a Blu-ray player that will instantly stream movies and TV episodes from Netflix to the TV."

About LG Electronics USA

LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a global force and technology leader in home appliances, consumer electronics and mobile communications. In the United States, LG Electronics sells a wide range of stylish, innovative digital appliances, consumer electronics (digital display and digital media) products and mobile phones under LG's "Life's Good" marketing theme. For more information, please visit http://www.lgusa.com/.

About Netflix, Inc.

Netflix, Inc. (Nadsaq: NFLX) is the world's largest online movie rental service, with more than eight million subscribers. For one low monthly price, Netflix members can get DVDs delivered to their homes and can instantly watch movies and TV episodes streamed to their TVs and PCs, all in unlimited amounts. Members can choose from over 100,000 DVD titles and a growing library of more than 12,000 choices that can be watched instantly. There are never any due dates or late fees. DVDs are delivered free to members by first class mail, with a postage-paid return envelope, from over 100 U.S. shipping points. More than 95 percent of Netflix members live in areas that generally receive shipments in one business day. Netflix is also partnering with leading consumer electronics companies to offer a range of devices that can instantly stream movies and TV episodes to members' TVs from Netflix. For more information, visit http://www.netflix.com/.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080731/AQTH518-a
http://www.newscom.com/cgi-bin/prnh/20080731/AQTH518-b
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN4,5
PRN Photo Desk, photodesk@prnewswire.com Netflix, Inc.

CONTACT: John I. Taylor of LG Electronics USA, Inc., +1-847-941-8181,
jtaylor@lge.com; or Nathan Friedman, +1-312-397-6009,
nathan.friedman@ogilvypr.com, for LG Electronics USA, Inc.; or Steve Swasey of
Netflix, Inc., +1-408-540-3947, sswasey@netflix.com

Web site: http://www.netflix.com/
http://www.lgusa.com/

Stratos Announces Second Quarter 2008 Results

BETHESDA, MD, July 30 /PRNewswire-FirstCall/ -- Stratos Global Corporation, the world's trusted leader in delivering vital voice, data and IP communication services today announced financial results for the second quarter ended June 30, 2008.

Financial Highlights (in millions of U.S. dollars, except per share amounts) ------------------------------------------------------------------------- Second quarter ended Six months ended June 30 June 30 2008 2007 2008 2007 ------------------------------------------------------------------------- Revenue $ 162.7 $ 149.9 $ 310.2 $ 294.5 EBITDA* $ 28.0 $ 25.2 $ 51.9 $ 44.5 Net earnings $ 5.5 $ 6.6 $ 6.2 $ 2.4 Basic and diluted earnings per share $ 0.13 $ 0.16 $ 0.15 $ 0.06 ------------------------------------------------------------------------- * EBITDA (a non-GAAP measure) is defined by the Corporation as earnings before interest expense, income taxes, other (income) costs, management long-term incentive expense, depreciation and amortization, non-controlling interest and equity in earnings of investee.

The unaudited interim consolidated financial statements and management's discussion and analysis of financial condition and results of operation are available on SEDAR, http://www.sedar.com/ and the Corporation's website, http://www.stratosglobal.com/

For the second quarter and six months ended June 30, 2008, the Corporation achieved revenue of US$162.7 million and US$310.2 million, respectively, 9 percent and 5 percent increases compared with US$149.9 million and US$294.5 million, respectively, in the same periods in 2007. EBITDA for the second quarter and six months ended June 30, 2008 increased by 11 percent and 17 percent, respectively, to US$28.0 million and US$51.9 million compared with US$25.2 million and US$44.5 million for the same periods in 2007. The significant improvement in EBITDA for both periods was driven by the increased revenue and cost reductions resulting from the integration of Xantic and other initiatives to improve operating efficiencies.

Net earnings for the second quarter and six months ended June 30, 2008 were US$5.5 million, or US$0.13 per share, and US$6.2 million, or US$0.15 per share, respectively, compared with net earnings of US$6.6 million, or US$0.16 per share and US$2.4 million, or US$0.06 per share, respectively, during the same periods in 2007. The net earnings for the second quarter and six months ended June 30, 2007 included a gain from insurance settlements related to hurricanes Katrina and Rita of $6.2 million.

Cash flow from operations (including working capital changes) in the second quarter and six months ended June 30, 2008 totaled US$17.4 million and US$22.4 million, respectively, compared with US$17.0 million and US$22.5 million, respectively, generated during the same periods in 2007.

About Stratos

Stratos is the world's trusted leader for vital communications. Stratos offers the most powerful and extensive portfolio of remote communications solutions including mobile and fixed satellite and microwave services. More than 20,000 customers use Stratos products and industry-leading value added services to optimize communication performance. Stratos serves U.S. and international government, military, first responder, NGO, oil and gas, industrial, maritime, aeronautical, enterprise, and media users on seven continents and across the world's oceans. For more information visit http://www.stratosglobal.com/

Caution Concerning Forward-Looking Statements

Documents related to this release contain statements and information about potential future circumstances and developments. Such statements and information are qualified by the inherent risks and uncertainties surrounding future expectations generally and may differ materially from Stratos Global Corporation's actual future results. For additional information with respect to these risks and uncertainties, reference should be made to the Corporation's continuous disclosure materials filed with the Canadian Securities Administrators. Stratos Global Corporation disclaims any intention or obligation to update or revise any forward-looking statements or information, whether as a result of new information, future events, or otherwise.

Stratos Global Corporation

CONTACT: Investor Contact: Paula Sturge, FCA, Executive Vice President &
CFO, (709) 724-5227, paula.sturge@stratosglobal.com

Gaiam to Announce Second Quarter 2008 ResultsConference Call to be held on Wednesday, August 6, 2008

BOULDER, Colo., July 30 /PRNewswire-FirstCall/ -- Gaiam, Inc. will announce results for its second quarter ended June 30, 2008, after the market close on Wednesday, August 6, 2008. The Company will also hold a teleconference to discuss these results with additional comments and details. Participating in the call will be Jirka Rysavy, Chairman & Chief Executive Officer, Lynn Powers, President, and Vilia Valentine, Chief Financial Officer.

The conference call is scheduled to begin at 2:30 pm MT (4:30 pm ET) on Wednesday, August 6, 2008. Participants may access the call by dialing 888-950-8038 (domestic) or 210-234-0014 (international).

About Gaiam, Inc.

Gaiam is a lifestyle media company providing information, media, products and services to customers who value personal development, wellness, ecological lifestyles, responsible media and conscious community. For more information about Gaiam, please visit http://www.gaiam.com/.

Contact: John Mills Senior Managing Director ICR, Inc. 310-954-1105 jmills@icrinc.com

Gaiam, Inc.

CONTACT: John Mills, Senior Managing Director of ICR, Inc.,
+1-310-954-1105, jmills@icrinc.com, for Gaiam, Inc.

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

Rogers Communications Inc. Announces US$1.75 Billion Offering of Debt Securities

TORONTO, July 30 /PRNewswire-FirstCall/ -- Rogers Communications Inc. ("RCI") announced today that it has priced a US$1,750,000,000 underwritten public offering of debt securities, consisting of US$1,400,000,000 aggregate principal amount of 6.800% senior notes due 2018 and US$350,000,000 aggregate principal amount of 7.500% senior notes due 2038. The net proceeds from the issuance of the debt securities will be approximately US$1.73 billion, which are expected to be used for general corporate purposes, including the repayment of a portion of RCI's outstanding debt. Pending any such use, RCI may invest the net proceeds in bank deposits and short-term marketable securities. The sale of the debt securities is expected to close on August 6, 2008.

The debt securities will be issued by RCI and guaranteed by two of its wholly owned subsidiaries, Rogers Wireless Partnership ("Wireless") and Rogers Cable Communications Inc. ("Cable"). Citi and J.P. Morgan Securities Inc. are joint book-running managers for the offering.

RCI has filed a shelf registration statement on Form F-9 (including a prospectus) with the SEC for this offering. Interested parties should read the prospectus in that registration statement together with the preliminary and final prospectus supplements for this offering and other documents RCI has filed with the SEC that have been incorporated by reference into the prospectus supplement for more complete information about RCI and this offering. These documents are available at no charge by visiting EDGAR on the SEC website at http://www.sec.gov/. Alternatively, these documents will be made available by any underwriter or dealer participating in the offering to interested parties who make a request by calling Citi toll-free at (877) 858-5407 or by calling J.P. Morgan Securities Inc. collect at (212) 834-4533.

The debt securities are not being offered in Canada or to any resident in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Caution Concerning Forward-Looking Statements

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, and other factors affecting the operations of RCI.

More detailed information about these factors may be found in filings by RCI with the SEC, including its most recent Annual Report on Form 40-F. RCI is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

About Rogers Communications Inc.

RCI is a diversified Canadian communications and media company. RCI is engaged in wireless voice and data communications services through Wireless, Canada's largest wireless provider and the operator of Canada's only national Global System for Mobile Communications ("GSM") based network. Through Cable, RCI is one of Canada's largest providers of cable television services as well as high-speed Internet access and telephony services. Through Rogers Media Inc., RCI is engaged in radio and television broadcasting, televised shopping, magazines and trade publications, and sports entertainment. RCI is publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange .

Rogers Communications Inc.

CONTACT: please contact: Bruce M. Mann, (416) 935-3532,
bruce.mann@rci.rogers.com; or Dan Coombes, (416) 935-3550,
dan.coombes@rci.rogers.com

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News archive of November 2009
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