ESCO Announces Third Quarter Results

ST. LOUIS, Aug. 7 /PRNewswire-FirstCall/ -- ESCO Technologies Inc. today announced its results for the third quarter ended June 30, 2008.

Within this release, references to "quarters" and "year-to-date" relate to the fiscal quarters and nine-month periods ended June 30 for the respective fiscal years noted.

Net earnings and EPS are presented from "Continuing Operations" and "Discontinued Operations." Continuing Operations represent the results of the ongoing businesses of the Company, including the results of Doble for the seven-month period subsequent to its November 30, 2007 acquisition. Discontinued Operations represent the results of the filtration portion of Filtertek which was sold on November 25, 2007.

Third Quarter 2008 vs. 2007 Highlights - Continuing Operations -- Net sales increased $42.3 million, or 36.7 percent, to $157.7 million. -- EBIT dollars increased $8.5 million, or 72.8 percent, to $20.2 million. -- Total depreciation and amortization expense was $7.2 million compared to $4.3 million. -- Pretax earnings include $4.2 million ($0.10 per share, after tax) of amortization expense related to TWACS NG(TM) software and purchase accounting related assets in the 2008 third quarter compared to $2.3 million ($0.05 per share, after tax) in 2007's third quarter. -- Pretax earnings were impacted by $2.6 million of interest expense in 2008 compared to $0.1 million of interest income in 2007. -- The effective tax rate was 24.4 percent in the 2008 third quarter compared to 33.3 percent in the third quarter of 2007 as explained in the "Effective Tax Rate" section below. -- EPS from Continuing Operations increased 66.7 percent to $0.50 per share (or $0.60 per share adjusted for the $0.10 per share of software and purchase accounting amortization noted above), compared to $0.30 per share in 2007. -- Net debt outstanding was $207.7 million at June 30, 2008. -- Entered orders were $159.1 million with a book-to-bill ratio of 101 percent. Year-to-Date 2008 vs. 2007 Highlights - Continuing Operations -- Net sales increased $123.0 million, or 40.3 percent, to $427.8 million. -- EBIT dollars increased $28.2 million, or 148.4 percent, to $47.1 million. -- Total depreciation and amortization expense was $19.9 million compared to $12.1 million. -- Pretax earnings include $12.5 million ($0.30 per share, after tax) of amortization expense related to TWACS NG software and purchase accounting related assets in 2008 compared to $6.1 million ($0.14 per share, after tax) in 2007. -- Pretax earnings were impacted by $7.1 million of interest expense in 2008 compared to $0.6 million of interest income in 2007. -- The effective tax rate was 31.8 percent in 2008 compared to 21.0 percent in 2007 as explained in the "Effective Tax Rate" section below. -- EPS from Continuing Operations was $1.04 per share (or $1.34 per share as adjusted for the $0.30 per share of software and purchase accounting amortization noted above), compared to $0.58 per share in 2007. -- Net cash generated by operating activities - continuing operations was $51.2 million. -- Entered orders were $453.5 million with a book-to-bill ratio of 106 percent. Diluted EPS Summary Third Quarter Year-to-Date 2008 2007 2008 2007 Continuing Operations $0.50 0.30 $1.04 0.58 Discontinued Operations -- 0.03 (0.19) 0.07 Net Earnings $0.50 0.33 $ 0.85 0.65 Sales

Third quarter 2008 sales of $157.7 million were 36.7 percent higher than third quarter 2007 sales of $115.4 million, and year-to-date sales increased 40.3 percent to $427.8 million compared to $304.8 million in 2007.

Utility Solutions Group sales of $93.7 million increased $39.7 million, or 73.6 percent in the 2008 third quarter compared to the third quarter of 2007, primarily driven by $20.9 million of sales from Doble in the 2008 third quarter. Fixed network RF AMI sales increased $17.8 million, or 165 percent, primarily due to higher gas AMI deliveries at PG&E. Fixed network power-line system (PLS) AMI sales decreased $5.0 million, or 12.7 percent, driven by lower sales to IOU customers (primarily in Texas), partially offset by a 3.0 percent increase in deliveries to COOP and public power (Municipal) customers which totaled $30.5 million during the 2008 third quarter. Software sales and sales of digital video security products increased $6.0 million in the third quarter of 2008. Year-to-date 2008 sales of $247.5 million increased $114.3 million, or 85.8 percent, driven by Doble's sales of $52.0 million; an RF AMI sales increase of $33.9 million, or 111.9 percent; PLS AMI sales increase of $24.9 million, or 28.0 percent; and a $3.5 million increase in sales of software and digital video security products.

Test segment sales of $33.0 million in the 2008 third quarter decreased slightly from the $34.6 million of sales recognized in the third quarter of 2007. This decrease is due to the timing of ongoing domestic chamber deliveries and slower than expected installations. Year-to-date, Test segment sales increased slightly over prior year.

Filtration segment sales of $31.0 million increased $4.1 million, or 15.4 percent in the third quarter of 2008, and year-to-date, Filtration sales increased $6.7 million, or 9.0 percent. Sales increased across all product lines with particularly strong results recognized in the aerospace end-markets.

Earnings Before Interest and Taxes (EBIT)

On a segment basis, items that impacted EBIT dollars and EBIT as a percent of sales ("EBIT margin") during the third quarter of fiscal 2008 included the following:

In the Utility Solutions Group, EBIT for the 2008 third quarter was $17.7 million (18.9 percent of sales), compared to $8.6 million (15.9 percent of sales) in the 2007 third quarter. The $9.1 million increase in EBIT dollars and as a percent of sales in the 2008 third quarter was the result of the significant sales increases across the segment as noted above. The 2008 third quarter also included higher TWACS NG software amortization compared to the 2007 third quarter ($2.9 million compared to $1.8 million). Year-to-date, 2008 EBIT was $41.5 million (16.8 percent of sales) compared to $11.9 million (8.9 percent of sales) with the significant increase in dollars and percentage being driven by the 86 percent increase in year-to-date sales within this segment.

In the Test segment, EBIT was $2.8 million (8.5 percent of sales) and $7.5 million (7.6 percent of sales) for the 2008 third quarter and nine months, respectively, compared to the 2007 third quarter and year-to-date EBIT of $2.0 million (5.9 percent of sales) and $8.2 million (8.5 percent of sales), respectively. The 2008 year-to-date EBIT included approximately $0.9 million of non-recurring costs associated with the facility consolidation in Austin, Texas. Additionally, year-to-date EBIT margins were lower due in 2008 due to changes in sales mix involving additional large chambers and fewer high-margin components sold versus 2007.

In the Filtration segment, 2008 third quarter EBIT was $5.2 million (16.8 percent of sales) compared to $5.5 million (20.5 percent of sales) in the prior year third quarter. The decrease in EBIT dollars and margin is due to sales mix changes at VACCO where fewer high margin defense spares were sold in the 2008 third quarter. Year-to-date, 2008 EBIT was $13.8 million (16.9 percent of sales) compared to 2007 EBIT of $12.7 million (16.9 percent of sales).

Corporate operating costs included in EBIT were $5.5 million and $15.7 million in the third quarter and nine months of 2008, respectively, compared to $4.4 million and $13.9 million in the 2007 third quarter and nine months, respectively. The 2008 increases are due to lower royalty income and higher amortization expenses related to purchase accounting identifiable intangible assets recorded at Corporate.

Effective Tax Rate

The effective tax rate from Continuing Operations in the third quarter of 2008 was 24.4 percent compared to 33.3 percent in the third quarter of 2007, and 31.8 percent compared to 21.0 percent for the nine month periods of 2008 and 2007, respectively. The 2008 and 2007 tax rates were favorably benefited by various tax credits (i.e., export related benefits, research credits).

The tax benefit recognized in 2008 resulted from an analysis and amendment of Federal income tax returns for the fiscal years 2001 through 2006.

New Orders

New orders received in 2008 were $159.1 million for the third quarter, and $453.5 million year-to-date resulting in a backlog at June 30, 2008 of $283.3 million.

New orders received were $96.4 million in the Utility Solutions Group, $34.1 million in Test, and $28.6 million in Filtration during the third quarter of 2008.

Orders from PG&E during the 2008 third quarter were $31.0 million, including $4.7 million related to the RF electric AMI order announced in May 2008. Subsequent to the third quarter end, the Company recorded an additional $7.8 million of PG&E gas orders related to its AMI deployment, resulting in year-to-date PG&E orders of $85.3 million. Total PG&E firm order quantities since inception are 2.2 million units (1.6 million gas and 0.6 million electric) and $140.0 million.

While not included in the order amounts noted above, the Company previously announced that its AMI technology has been selected by Idaho Power (estimated at 500,000 power-line system electric units, $25 million), New York City Water (estimated at 875,000 RF water units, $68.3 million), and Baltimore Gas & Electric (selected for RF pilot for gas and electric trial).

Also subsequent to June 30, the Company announced that its Test segment was awarded one of the largest contracts in its history. ETS-Lindgren signed a $16.7 million contract with the National Automotive Testing and R&D Infrastructure Project (NATRIP) in India to provide two automotive test chambers to support India's most significant automotive initiative undertaken to date.

Cash

Net cash provided by operating activities from Continuing Operations was $51.2 million for the nine months ended June 30, 2008. At June 30, 2008, the Company had $22.8 million in cash and $230.5 million of total debt outstanding for a net debt position of $207.7 million.

Doble Purchase Accounting Items

The annual pretax amortization charge related to Doble's identifiable intangible assets is expected to be approximately $3.3 million for five years, decreasing to $2.7 million for the remaining 15 years.

Regarding tangible assets, Doble's finished goods inventory was required to be "stepped up" under purchase accounting by $1.7 million, which results in finished goods inventory being sold with no profit recognized. This results in positive cash flow, but "lost" profit of $1.3 million in fiscal 2008 and $0.4 million in fiscal 2009.

Chairman's Commentary

Vic Richey, Chairman and Chief Executive Officer, commented, "I am very pleased with our operating performance this year as our growth in sales, earnings and entered orders continues to demonstrate ESCO's significant resiliency against a challenging economic backdrop. We continue to operate at a level well above last year's sales, EBIT, EPS, cash flow, and entered orders. Our success in 2008 is evidenced by the double-digit growth percentages noted throughout our financials.

"Our Utility Solutions Group continues to exceed our original expectations established at the beginning of the year, and considering all of our recent order activity and our AMI selections at Idaho Power, New York City and others, I'm very enthused about the way that our future outlook is shaping up. This momentum leads me to believe that our Aclara brand is gaining widespread acceptance in the market.

"Drilling down further on the AMR / AMI front, I continue to be very excited about the increasing opportunities that we are addressing in the international marketplace. The amount of international piloting activity continues to expand both in numbers of utilities expressing interest in our AMI technology, and in new countries which have come forward with requests for information about Aclara's solution. I remain confident that some of these trials will ultimately lead to initial deployments over the next 12 months.

"Doble continues to perform at an exceptional level and we expect it to continue this pattern of growth and profitability well into the future. We continue our plan to further Doble's presence in the international market, and we have validated this strategy with our recent acquisition of LDIC announced this week."

Mr. Richey concluded, "I am more confident than ever that our strategy to drive organic growth across all operating segments through new product development and attention to costs, and supplemented by acquisition activity to allow us to further enhance our market presence, will continue to be a significant contributor to our stated goal of increasing long-term shareholder value."

Business Outlook

Statements contained in the preceding and following paragraphs are based on current expectations. Statements that are not strictly historical are considered forward-looking, and actual results may differ materially.

The Business Outlook described below excludes the Discontinued Operations of Filtertek and the impact of any future acquisitions or divestitures, and includes: the expected operating results of Doble for the 10 months of operations included in fiscal 2008 since the date of acquisition; the impact of the amortization of identifiable intangible purchase accounting assets related to Aclara Software, Aclara RF, and Doble; the impact of the Doble inventory step-up resulting in "lost" profit, and the amortization of the TWACS NG software.

PG&E Contract

PG&E's ongoing technology assessment activities may impact the timing and / or receipt of future orders from PG&E for its electric deployment, and until PG&E completes this evaluation and determines whether it will modify its AMI project plan, the Company cannot reasonably estimate the timing or total value of equipment orders that may be received.

The Company has been in ongoing negotiations with PG&E related to a further deployment of its Aclara RF electric AMI product.

Additionally, the Company is in negotiations with PG&E related to its existing power-line systems (PLS) contract to amend and redefine the remaining financial and performance obligations of both parties.

The gas portion of the PG&E contract is continuing to be deployed using Aclara RF's fixed network solution.

Revenue, EBIT Margins, and Earnings Per Share - 2008

Management continues to expect fiscal year 2008 revenues and EBIT margins to be consistent with the ranges described in detail in the Company's February 7, 2008 release, and as reiterated in the May 6, 2008 release. Management has narrowed the range of EPS expectations as noted below.

Fiscal 2008 EPS is expected to be within the following ranges: EPS - GAAP Continuing Operations $1.80 to 1.85 Add: Intangible Asset Amortization and Inventory Step-Up $0.42 0.42 EPS - Adjusted Basis $2.22 to 2.27

As explained in the February 7, 2008 release, the $0.42 per share noted in the above reconciliation includes TWACS NG software amortization, purchase accounting intangible asset amortization related to the Company's recent acquisitions, and Doble's purchase accounting inventory step-up.

Additionally, interest expense for 2008, which is included in the GAAP EPS amounts noted above, is expected to be in the range of $0.24 to $0.26 per share, and stock option expense is expected to be in the range of $0.08 to $0.10 per share for the year. The effective annual tax rate for fiscal 2008 is expected to be approximately 33 to 35 percent.

Conference Call

The Company will host a conference call today, August 7, at 4 p.m., Central Time, to discuss the Company's third quarter operating results. A live audio webcast will be available on the Company's web site at http://www.escotechnologies.com/. Please access the web site at least 15 minutes prior to the call to register, download and install any necessary audio software. A replay of the conference call will be available for seven days on the Company's web site noted above or by phone (dial 1-888-203-1112 and enter the pass code 9697543).

Forward-Looking Statements

Statements in this press release regarding the amounts and timing of fiscal 2008 future revenues, results, earnings, sales, EBIT, EPS, sales and EBIT margins, the success of product development and cost reduction efforts, estimated order quantities under newly-awarded AMI contracts, the amortization of Doble's intangible assets, future acquisitions, the fiscal 2008 effective annual tax rate, future revenues from Doble, the success of international AMR / AMI pilots and the likelihood of resulting international AMR / AMI deployments, the long-term success of the Company, and any other written or oral statements which are not strictly historical are "forward-looking" statements within the meaning of the safe harbor provisions of the federal securities laws. Investors are cautioned that such statements are only predictions and speak only as of the date of this release, and the Company undertakes no duty to update. The Company's actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the Company's operations and business environment including, but not limited to: the risk factors described in Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2007, and in Part II, Item 1A of the Company's Quarterly Report on Form 10-Q for the three months ended March 31, 2008; actions by the California Public Utility Commission; PG&E's Board of Directors or PG&E's Management impacting PG&E's AMI projects; the outcome of PG&E's evaluation of other technologies to meet their requirements for the electric portion of its service territory; the timing and terms of the PLS contract amendment; the success of the Company's competitors; changes in or the effect of the Federal Energy Bill; the timing and content of purchase order releases under the Company's AMI contracts; the Company's successful performance of its AMI contracts; site readiness issues with Test segment customers; weakening of economic conditions in served markets; changes in customer demands or customer insolvencies; competition; intellectual property rights; technical difficulties; unforeseen charges impacting corporate operating expenses; the performance of the Company's international operations; material changes in the costs of certain raw materials including steel and copper; delivery delays or defaults by customers; termination for convenience of customer contracts; timing and magnitude of future contract awards; containment of engineering and development costs; performance issues with key customers, suppliers and subcontractors; labor disputes; changes in laws and regulations including but not limited to changes in accounting standards and taxation requirements; costs relating to environmental matters; uncertainty of disputes in litigation or arbitration; the Company's successful execution of internal operating plans; and the integration of newly acquired businesses.

ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products. Further information regarding ESCO and its subsidiaries is available on the Company's web site at http://www.escotechnologies.com/.

ESCO TECHNOLOGIES INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) (Dollars in thousands, except per share amounts) Three Months Ended Three Months Ended June 30, 2008 June 30, 2007 Net Sales $ 157,669 115,365 Cost and Expenses: Cost of sales 93,563 70,603 SG&A 38,829 27,865 Amortization of intangible assets 4,575 2,739 Interest expense (income) 2,589 (131) Other expenses, net 508 2,473 Total costs and expenses 140,064 103,549 Earnings before income taxes 17,605 11,816 Income taxes 4,297 3,937 Net earnings from continuing operations 13,308 7,879 Earnings from discontinued operations, net of tax expense of $475 - 975 Net earnings $ 13,308 8,854 Earnings per share: Basic Continuing operations 0.51 0.30 Discontinued operations 0.00 0.04 Net earnings $ 0.51 0.34 Diluted Continuing operations 0.50 0.30 Discontinued operations 0.00 0.03 Net earnings $ 0.50 0.33 Average common shares O/S: Basic 25,977 25,941 Diluted 26,402 26,493 ESCO TECHNOLOGIES INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) (Dollars in thousands, except per share amounts) Nine Months Ended Nine Months Ended June 30, 2008 June 30, 2007 Net Sales $ 427,785 304,812 Cost and Expenses: Cost of sales 255,838 193,315 SG&A 111,885 83,056 Amortization of intangible assets 12,770 7,557 Interest expense (income) 7,135 (628) Other expenses, net 157 1,909 Total costs and expenses 387,785 285,209 Earnings before income taxes 40,000 19,603 Income taxes 12,705 4,122 Net earnings from continuing operations 27,295 15,481 (Loss) earnings from discontinued operations, net of tax expense of $325 and $868, respectively (115) 1,610 Loss on sale of discontinued operations, net of tax of $4,809 (4,974) - Net (loss) earnings from discontinued operations (5,089) 1,610 Net earnings $ 22,206 17,091 Earnings per share: Basic Continuing operations 1.06 0.60 Discontinued operations (0.20) 0.06 Net earnings $ 0.86 0.66 Diluted Continuing operations 1.04 0.58 Discontinued operations (0.19) 0.07 Net earnings $ 0.85 0.65 Average common shares O/S: Basic 25,862 25,904 Diluted 26,290 26,482 ESCO TECHNOLOGIES INC. AND SUBSIDIARIES Condensed Business Segment Information (Unaudited) (Dollars in thousands) Three Months Ended Nine Months Ended June 30, June 30, 2008 2007 2008 2007 Net Sales Utility Solutions Group $ 93,653 53,943 247,533 133,203 Test 33,039 34,583 98,599 96,678 Filtration 30,977 26,839 81,653 74,931 Totals $157,669 115,365 427,785 304,812 EBIT Utility Solutions Group $ 17,666 8,564 41,540 11,891 Test 2,794 2,042 7,526 8,246 Filtration 5,216 5,509 13,778 12,710 Corporate (5,482) (1) (4,430) (2) (15,709) (3) (13,872) (4) Consolidated EBIT 20,194 11,685 47,135 18,975 Interest (expense)/ income (2,589) 131 (7,135) 628 Earnings before income taxes $ 17,605 11,816 40,000 19,603 Note: Depreciation and amortization expense was $7.2 million and $4.3 million for the quarters ended June 30, 2008 and 2007, respectively, and $19.9 million and $12.1 million for the nine-month periods ended June 30, 2008 and 2007, respectively. (1) Includes $1.2 million of amortization of acquired intangible assets. (2) Includes $0.5 million of amortization of acquired intangible assets. (3) Includes $3.0 million of amortization of acquired intangible assets. (4) Includes $1.7 million of amortization of acquired intangible assets. ESCO TECHNOLOGIES INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) (Dollars in thousands) June 30, September 30, 2008 2007 Assets Cash and cash equivalents $ 22,817 18,638 Accounts receivable, net 113,904 85,319 Costs and estimated earnings on long-term contracts 8,676 11,520 Inventories 71,038 55,885 Current portion of deferred tax assets 13,407 25,264 Other current assets 15,770 28,054 Current assets from discontinued operations - 35,670 Total current assets 245,612 260,350 Property, plant and equipment, net 74,341 50,193 Goodwill 320,298 124,757 Intangible assets, net 237,173 74,624 Other assets 14,181 10,338 Other assets from discontinued operations - 55,845 $891,605 576,107 Liabilities and Shareholders' Equity Short-term borrowings and current portion of long-term debt $ 30,474 - Accounts payable 41,647 45,726 Current portion of deferred revenue 18,980 24,621 Other current liabilities 44,011 31,859 Current liabilities from discontinued operations - 16,994 Total current liabilities 135,112 119,200 Long-term portion of deferred revenue 9,361 4,514 Deferred tax liabilities 81,245 18,522 Other liabilities 18,327 15,854 Long-term debt 200,000 - Other liabilities from discontinued operations - 2,534 Shareholders' equity 447,560 415,483 $891,605 576,107 ESCO TECHNOLOGIES INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Dollars in thousands) Nine Months Ended June 30, 2008 Cash flows from operating activities: Net earnings $ 22,206 Adjustments to reconcile net earnings to net cash provided by operating activities: Net loss from discontinued operations 5,089 Depreciation and amortization 19,898 Stock compensation expense 3,230 Changes in operating working capital (9,457) Effect of deferred taxes 9,166 Change in deferred revenues and costs, net 326 Other 693 Net cash provided by operating activities - continuing operations 51,151 Net loss from discontinued operations (5,089) Net cash provided by discontinued operations 1,412 Net cash used by operating activities - discontinued operations (3,677) Net cash provided by operating activities 47,474 Cash flows from investing activities: Acquisition of businesses, net of cash acquired (330,796) Proceeds from sale of marketable securities 4,966 Additions to capitalized software (9,225) Capital expenditures - continuing operations (12,618) Net cash used by investing activities - continuing operations (347,673) Capital expenditures - discontinued operations (1,126) Proceeds from divestiture of business, net - discontinued operations 74,370 Net cash provided by investing activities - discontinued operations 73,244 Net cash used by investing activities (274,429) Cash flows from financing activities: Proceeds from long-term debt 276,197 Principal payments on long-term debt (45,723) Debt issuance costs (2,965) Net decrease in short-term borrowings - discontinued operations (2,844) Excess tax benefit from stock options exercised 737 Other (including proceeds from exercise of stock options) 5,732 Net cash provided by financing activities 231,134 Net increase in cash and cash equivalents 4,179 Cash and cash equivalents, beginning of period 18,638 Cash and cash equivalents, end of period $ 22,817 ESCO TECHNOLOGIES INC. AND SUBSIDIARIES Other Selected Financial Data (Unaudited) (Dollars in thousands) Backlog And Entered Utility Orders-Q3 FY 2008 Solutions Test Filtration Total Beginning Backlog- 3/31/08 continuing operations $ 136,180 60,299 85,388 281,867 Entered Orders 96,401 34,142 28,551 159,094 Sales (93,653) (33,039) (30,977) (157,669) Ending Backlog-6/30/08 $ 138,928 61,402 82,962 283,292 Backlog And Entered Utility Orders-Q3 YTD 2008 Solutions Test Filtration Total Beginning Backlog- 9/30/07 continuing operations $ 123,176 60,038 74,394 257,608 Entered Orders 263,285 99,963 90,221 453,469 Sales (247,533) (98,599) (81,653) (427,785) Ending Backlog-6/30/08 $ 138,928 61,402 82,962 283,292

ESCO Technologies Inc.

CONTACT: Patricia K. Moore, Director, Investor Relations of ESCO
Technologies Inc., +1-314-213-7277; or media inquiries, David P. Garino
+1-314-982-0551, for ESCO Technologies Inc.

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

Westwood One, Inc. Reports Results for the Second Quarter 2008- Revenue of $100.4 million and Adjusted EBITDA of $14.1 million for the Second Quarter -- 2008 Continues to be a Year of Transition for Newly Independent Westwood One, Inc. -- Company Continues to Make Progress on Strategy to Become a Leading Integrated, Cross-Platform Media Company Delivering Superior Content and Services -- Company Records $206.1 million Non-Cash Goodwill Impairment Charge -

NEW YORK, Aug. 7 /PRNewswire-FirstCall/ -- Westwood One, Inc. a provider of analog and digital media content, including news, sports, entertainment, traffic, weather, video news services and other information, to the radio, TV and on-line sectors, today reported its operating results for its second quarter ended June 30, 2008.

Tom Beusse, Westwood One's President and CEO, commented, "We are making significant progress on our strategy to become a leading integrated, cross- platform media company delivering superior content and services. Of note, the recently announced partnership with AirSage, which significantly elevates our traffic offering, and ongoing investments in the business highlight the significant progress we are making in more effectively positioning the Company for the long-term. Moreover, the latest recruits to the management team have a wealth of experience across broad media, radio and digital platforms and we are all aligned on the vision for the business. I am excited about the team we have in place and the addition of The Gores Group, LLC as value-added investors and members of the board.

"While I have said before that 2008 is an important transition year for our newly independent Company, recent revenue trends have been softer than expected due to a weak national economy and a decrease in radio advertising spending. During the second quarter, the difficult business environment negatively impacted revenue and put downward pressure on Adjusted EBITDA and these conditions are expected to continue in the near-term. Over the past few months the new management team has been actively reviewing every aspect of the business and taking actions to improve the Company's operations. Management has also identified a series of key re-engineering initiatives that are intended to create operating efficiencies, further streamline our cost structure, and drive incremental revenue. These initiatives are consistent with our existing plan but will be accelerated in order to mitigate the current softness in our revenues. These initiatives should provide stability in the near-term and position us to more effectively execute our long term strategy. I look forward to reporting on the specifics of these plans by the end of the third quarter."

Second Quarter 2008 Results

Revenue for the second quarter of 2008 was $100.4 million compared to $111.0 million in the second quarter of 2007, a decrease of 9.6%. The decrease is primarily due to continuing weakness in the economy and the local/regional advertising marketplace as well as competition. A slight increase in national revenue was offset by a 16.8% revenue decline in the local/regional business, which was driven by reduced advertising spending primarily in the automotive, banking and real estate categories.

Adjusted EBITDA for the second quarter, defined as operating income (loss) plus depreciation and amortization, special charges, a non-cash goodwill impairment charge (referenced in more detail below), and non-cash stock-based compensation, was $14.1 million compared with $26.6 million in the second quarter of 2007. The decline was principally due to a decrease in advertising revenue. Investment in recruiting top-tier management for the sales, digital and business development areas of the business and improved commercial clearances by CBS Radio also played a role. The distribution agreement with CBS has had an immediate and dramatic impact on their national inventory clearance levels, which have increased from the mid-80s to over 93%. These increased clearance rates make Westwood One a significantly more effective advertising platform than in the recent past.

Special charges in the second quarter were $0.9 million as compared with $2.3 million in the second quarter of 2007. Special charges this quarter are comprised of charges for advisory fees related to re-engineering traffic operations and costs attributable to obtaining additional capital. Special charges in the second quarter of 2007 were comprised of $1.3 million of advisory fees to negotiate a new long-term agreement with CBS Radio and $1.0 million in severance for executive management changes.

Operating loss in the second quarter was $195.6 million compared with operating income of $16.6 million in the second quarter of 2007. This operating loss is principally due to the non-cash goodwill impairment charge. Excluding the effect of the impairment charge on the current quarter results, the Company's operating income would have been $10.4 million. The decrease versus the comparable period last year is due to the combination of lower revenue and higher operating costs, partially offset by the elimination of warrant amortization associated with the CBS Radio warrants that were cancelled as part of the new CBS Radio agreement, lower stock-based compensation and a reduction in other special charges.

Interest expense for the quarter was $4.4 million compared with $5.9 million in the second quarter of 2007, a decrease of 25.6%. The reduction is principally due to lower debt levels. At the end of the quarter the Company's debt was $260 million, down $85.0 million from December 31, 2007 and down $110.0 million from June 30, 2007.

Income tax benefit for the quarter was $0.2 million compared with income tax expense of $4.0 million in the second quarter of 2007. The current period income tax benefit arose due to a portion of our non-cash goodwill impairment charge being deductible for tax purposes.

Net loss for the second quarter was $199.7 million, or $1.98 per share, compared with net income of $6.9 million, or $0.08 per basic and diluted common share in the second quarter of 2007. Due to the loss in the second quarter of 2008, basic and diluted shares are equivalent.

Free cash flow, defined as net income (loss) plus depreciation and amortization, special charges, goodwill impairment, stock-based compensation, and amortization of deferred financing costs less capital expenditures, in the second quarter was $8.0 million, or $0.08 per diluted share, compared with $15.8 million, or $0.18 per diluted share, in the second quarter of 2007. Capital expenditures were approximately $2.4 million in the current quarter compared with $1.2 million in the second quarter of 2007. The increase in capital expenditures is attributable to costs we are incurring for an improved distribution system for national products and commercials.

Goodwill Impairment Charge

In accordance with Statement of Financial Accounting Standards No. 142, the Company has performed an interim assessment of the value of its goodwill. This action was required given the negative impact of ongoing weakness in the national economy and reduced advertising sales on the Company's near-term performance. The completion of the two-part test resulted in the Company recording a non-cash charge in the amount of $206.1 million. This non-cash charge does not have any impact on our future operations, nor does it affect the Company's liquidity, Adjusted EBITDA, Free Cash Flow, cash flow from operating activities or debt covenants. After this impairment, the Company's goodwill balances will be approximately $258.1 million.

Business Update and Company Outlook

Over the past several months, management has been actively pursuing actions to improve the Company's operations, including its sales strategy and execution. However, to address near-term economic weakness and to position the Company for long-term profitable growth, management is planning several significant business re-engineering initiatives that should lend stability to the business in the near-term and are intended to drive incremental revenue and streamline the cost structure in the long-term. These initiatives will be in line with the strategy outlined to date and management will merely be accelerating certain initiatives of the overall long-term business plan.

The three key focus areas include: -- Fundamentally re-engineer the local traffic segment to leverage leading edge technology and right-size the business. -- Top-grade the sales organization to be more effective and enhance our coverage in key geographic markets while empowering the staff to better cross-sell all of the Company's media assets. -- Introduce significant organizational and operational discipline in order to streamline the cost structure by improving processes and becoming more efficient.

The new management team is still finalizing details of these initiatives. By the end of the third quarter, the Company will provide more specific information on formal plans, benefits of initiatives, and details regarding a re-engineering charge that is expected to occur in the third quarter.

2008 Outlook

Due to the ongoing planning process and the dynamic economic environment, which makes it difficult to forecast near-term operations, management believes it is prudent to withdraw the previous formal financial outlook that has been provided for 2008. Management will continue to be open about progress on the Company's operating initiatives throughout the second half of 2008.

Mr. Beusse concluded, "Although the Company has near-term challenges, Westwood One has entered a new era and we are optimistic about our long-term potential. I am proud of what this new management team has accomplished in such a short amount of time. We are analyzing every aspect of our business, taking decisive actions, and creating key partnerships. We expect that as a result of this hard work, 2009 will be a break-out year. Westwood One is rapidly becoming a more data driven, cross-platform media company delivering superior content and services. We look forward to realizing that vision and to delivering enhanced shareholder value over the long-term."

About Westwood One

Westwood One is a platform-agnostic content company providing over 150 news, sports, music, talk, entertainment programs, features and live events to numerous media partners. Westwood One also provides local content such as traffic, weather, news, and sports to the radio, TV, and online sectors. Westwood One provides its content and services to more than 5,000 radio stations. For more information please visit http://www.westwoodone.com/.

Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. The words or phrases "guidance," "expect," "anticipate," "estimates" and "forecast" and similar words or expressions are intended to identify such forward-looking statements. In addition any statements that refer to expectations or other characterizations of future events or circumstances are forward-looking statements. Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this release include, but are not limited to: continued declines in revenue; our ability to raise additional capital or refinance our senior credit agreement; our ability to execute our growth strategy; trends in audience and inventory delivered by our affiliated radio stations, and competition in the media industry; changes in economic conditions in the U.S. and in other countries in which the Company currently does business (both generally and relative to the broadcasting and media industry); advertiser spending patterns; changes in the level of competition for advertising dollars; and fluctuations in programming costs. Other key risks are described in the Company's reports filed with the SEC, including the Company's annual report on Form 10-K/A for the year ending December 31, 2007. Except as otherwise stated in this news announcement, Westwood One, Inc. does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

WESTWOOD ONE, INC. SUPPLEMENTAL DISCLOSURES REGARDING NON-GAAP FINANCIAL INFORMATION Adjusted EBITDA

The following tables set forth the Company's Adjusted EBITDA for the three and six month periods ended June 30, 2008 and 2007. The Company defines "Adjusted EBITDA" as operating income (loss) from its Statement of Operations adjusted to exclude the following items: depreciation and amortization, stock-based stock compensation, special charges and goodwill impairment . Adjusted EBITDA is not a performance measure calculated in accordance with Generally Accepted Accounting Principles ("GAAP").

Adjusted EBITDA is used by the Company to, among other things, evaluate its operating performance, forecast and plan for future periods, value prospective acquisitions, and as one of several components of incentive compensation targets for certain management personnel. This measure is an important indicator of the Company's operational strength and performance of its business because it provides a link between profitability and operating cash flow. The Company believes the presentation of this measure is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by the Company's management, helps improve their ability to understand the Company's operating performance and makes it easier to compare the Company's results with other companies that have different financing and capital structures or tax rates. In addition, this measure is also among the primary measures used externally by the Company's investors, analysts and peers in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry. Adjusted EBITDA is also used to determine compliance with its debt covenants.

Since Adjusted EBITDA is not a measure of performance calculated in accordance with GAAP, it should not be considered in isolation of, or as a substitute for, net income as an indicator of operating performance. Adjusted EBITDA as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, this measure does not necessarily represent funds available for discretionary use, and is not necessarily a measure of the Company's ability to fund its cash needs. As Adjusted EBITDA excludes certain financial information compared with operating income, the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions which are excluded. As required by the SEC, the Company provides below a reconciliation of Adjusted EBITDA to operating income, the most directly comparable amount reported under GAAP.

Three Months Ended Six Months Ended June 30, June 30, (In millions) 2008 2007 2008 2007 Net income (loss) ($199.7) $6.9 ($205.1) $7.6 Plus: Income taxes (0.2) 4.0 (3.2) 4.5 Interest expense and other 4.3 5.7 9.6 11.8 Depreciation and amortization 2.4 4.9 6.4 9.9 Goodwill impairment & special charges 207.0 2.3 214.9 2.6 Non-cash stock based compensation 0.3 2.8 2.5 5.6 Adjusted EBITDA $14.1 $26.6 $25.1 $42.0 Free Cash Flow

Free cash flow is defined by the Company as net income (loss) plus depreciation and amortization, stock-based compensation, special charges, and non-cash goodwill impairment less capital expenditures. The Company uses free cash flow, among other measures, to evaluate its operating performance. Management believes free cash flow provides investors with an important perspective on the Company's cash available to service debt and the Company's ability to make strategic acquisitions and investments, maintain its capital assets, repurchase its common stock and fund ongoing operations. As a result, free cash flow is a significant measure of the Company's ability to generate long term value. The Company believes the presentation of free cash flow is relevant and useful for investors because it allows investors to view performance in a manner similar to the method used by management. In addition, free cash flow is also a primary measure used externally by the Company's investors, analysts and peers in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry. Free cash flow per fully diluted weighted average Common shares outstanding is defined by the Company as free cash flow divided by the fully diluted weighted average Common shares outstanding.

As free cash flow is not a measure of performance calculated in accordance with GAAP, free cash flow should not be considered in isolation of, or as a substitute for, net income as an indicator of operating performance or net cash provided by operating activities as a measure of liquidity. Free cash flow, as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, free cash flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of the Company's ability to fund its cash needs. In arriving at free cash flow, the Company adjusts net cash provided by operating activities to remove the impact of cash flow timing differences to arrive at a measure which the Company believes more accurately reflects funds available for discretionary use. Specifically, the Company adjusts net cash provided by operating activities (the most directly comparable GAAP financial measure) for capital expenditures, special charges, and deferred taxes, in addition to removing the impact of sources and or uses of cash resulting from changes in operating assets and liabilities. Accordingly, users of this financial information should consider the types of events and transactions which are not reflected. The Company provides below a reconciliation of free cash flow to the most directly comparable amount reported under GAAP, net cash provided by operating activities. The following table presents a reconciliation of the Company's net cash provided by operating activities to free cash flow:

Three Months Ended Six Months Ended June 30, June 30, (In millions, except per share amounts) 2008 2007 2008 2007 Net cash provided by (used in) operating activities $6.0 ($19.2) ($4.8) ($2.6) Plus or Minus: Changes in assets and liabilities (4.1) 31.1 8.3 22.9 Special charges 0.9 2.3 8.9 2.6 Deferred taxes 7.6 2.8 7.1 3.1 Capital expenditures (2.4) (1.2) (6.1) (2.1) Free cash flow $8.0 $15.8 $13.4 $23.9 Fully diluted weighted average shares Outstanding 100.8 86.5 95.1 86.4 Free cash flow per diluted share $0.08 $0.18 $0.14 $0.28 WESTWOOD ONE, INC CONSOLIDATED STATEMENT OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2008 2007 2008 2007 NET REVENUE $100,372 $111,025 $206,998 $224,984 Operating Costs (includes related party expenses of $18,445, $16,886, $36,320 and $35,829 respectively) 85,411 83,633 179,640 181,068 Depreciation and Amortization (includes related party warrant amortization of $0 , $2,427, $1,618 and $4,853, respectively) 2,421 4,917 6,397 9,948 Corporate General and Administrative Expenses (includes related party expenses of $0, $861, $610 and $1,690, respectively) 1,199 3,575 4,665 7,451 Goodwill Impairment 206,053 - 206,053 - Special Charges 897 2,282 8,853 2,637 295,981 94,407 405,608 201,104 OPERATING (LOSS) INCOME (195,609) 16,618 (198,610) 23,880 Interest Expense 4,352 5,852 9,751 11,949 Other Income (43) (150) (85) (150) (LOSS) INCOME BEFORE INCOME TAXES (199,918) 10,916 (208,276) 12,081 INCOME TAXES (BENEFIT) EXPENSE (174) 4,019 (3,194) 4,469 NET (LOSS) INCOME $(199,744) $6,897 $(205,082) $7,612 (LOSS) EARNINGS PER SHARE COMMON STOCK BASIC $(1.98) $0.08 $(2.16) $0.09 DILUTED $(1.98) $0.08 $(2.16) $0.09 CLASS B STOCK BASIC $- $- $- $0.02 DILUTED $- $- $- $0.02 WEIGHTED AVERAGE SHARES OUTSTANDING: COMMON STOCK BASIC 100,752 86,094 95,119 86,084 DILUTED 100,752 86,540 95,119 86,408 CLASS B STOCK BASIC 292 292 292 292 DILUTED 292 292 292 292 WESTWOOD ONE, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) June 30, December 31, 2008 2007 (unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $5,315 $6,187 Accounts receivable, net of allowance for doubtful accounts of $3,585 (2008) and $3,602 (2007) 95,566 108,271 Warrants, current portion - 9,706 Prepaid and other assets 8,299 13,990 Total Current Assets 109,180 138,154 Property and equipment, net 34,702 33,012 Goodwill 258,061 464,114 Intangible assets, net 3,052 3,443 Other assets 26,139 31,034 TOTAL ASSETS $431,134 $669,757 LIABILITIES, REDEEMABLE PREFERRED STOCK AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $20,366 $17,378 Amounts payable to related parties 14,466 30,859 Deferred revenue 3,789 5,815 Income taxes payable 1,964 7,246 Accrued expenses and other liabilities 23,776 29,562 Current maturity of Long-Term Debt 60,000 - Total Current Liabilities 124,361 90,860 Long-term debt 199,495 345,244 Other Liabilities 5,681 6,022 TOTAL LIABILITIES 329,537 442,126 Commitments and Contingencies Redeemable preferred stock: $.01 par value, authorized 10,000 shares, issued and outstanding, 75 as Series A Convertible Preferred Stock; liquidation preference $1,000 per share 73,738 - SHAREHOLDERS' EQUITY Common stock, $.01 par value: authorized, 300,000 shares; issued and outstanding, 101,345 (2008) and 87,105 (2007) 1,014 872 Class B stock, $.01 par value: authorized, 3,000 shares; issued and outstanding, 292 (2008 and 2007) 3 3 Additional paid-in capital 293,363 290,786 Unrealized gain on available for sale securities 8,551 5,955 Accumulated deficit (275,072) (69,985) TOTAL SHAREHOLDERS' EQUITY 101,597 227,631 TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND SHAREHOLDERS' EQUITY $431,134 $669,757 WESTWOOD ONE, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Six Months Ended June 30, 2008 2007 CASH FLOW FROM OPERATING ACTIVITIES: Net (loss) income $(205,082) $7,612 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 6,397 9,948 Goodwill Impairment 206,053 - Deferred taxes (8,563) (3,079) Non-cash stock compensation 2,455 5,572 Amortization of deferred financing costs 792 237 2,052 20,290 Changes in assets and liabilities: Accounts receivable 12,705 (47) Prepaid and other assets 5,531 5,264 Deferred revenue (2,026) (1,861) Income taxes payable and prepaid income taxes (3,915) (5,455) Accounts payable and accrued expenses and other liabilities (2,796) (23,269) Amounts payable to related parties (16,393) 2,516 Net Cash Used By Operating Activities (4,842) (2,562) CASH FLOW FROM INVESTING ACTIVITIES: Capital expenditures (6,078) (2,114) Net Cash Used In Investing Activities (6,078) (2,114) CASH FLOW FROM FINANCING ACTIVITIES: Issuance of common stock 22,750 - Issuance of series A convertible preferred stock and warrants 74,178 - Debt repayments and payments of capital lease obligations (85,343) (359) Dividend payments - (1,663) Deferred financing costs (1,537) - Net Cash Provided (Used) in Financing Activities 10,048 (2,022) NET DECREASE IN CASH AND CASH EQUIVALENTS (872) (6,698) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 6,187 11,528 CASH AND CASH EQUIVALENTS AT END OF PERIOD $5,315 $4,830

Westwood One, Inc.

CONTACT: Investors, Gary Yusko of Westwood One, Inc., +1-212-373-5311;
or press, Evan Goetz or Grace Su, both of FD for Westwood One, Inc., +1-212-
850-5600

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

White Electronic Designs Corporation Reports Financial Results for the Third Quarter of Fiscal Year 2008

PHOENIX, Aug. 7 /PRNewswire-FirstCall/ -- White Electronic Designs Corporation reported financial results for the third quarter, and the first nine months of fiscal year 2008 ended June 28, 2008.

Net sales for the third quarter of fiscal 2008 were $19.6 million compared to $21.5 million in the third quarter last year. Loss from continuing operations for the three months ended June 28, 2008 was $1.5 million, or $0.07 per diluted share. The third quarter results were adversely impacted by a $3.5 million, or $0.16 per share, non-cash write-down of goodwill and $0.2 million, or $0.01 per share, in severance costs related to our cost reduction efforts at our display reporting unit. Income from continuing operations was $1.8 million, or $0.07 per diluted share, in the third quarter of fiscal 2007.

The slowing economy has affected the demand from our convertible and tablet PC customers at our display reporting unit and there is limited visibility as to when a recovery may be anticipated. As a result of these indicators of impairment found in the third quarter of fiscal 2008, we performed a test for impairment under SFAS 142, Goodwill and Other Intangible Assets, and it was determined that the goodwill was fully impaired. Accordingly, we wrote down the remaining $3.5 million of goodwill related to this reporting unit in the display segment.

Revenues for military/industrial microelectronic products during the quarter increased 9% to $13.7 million compared to $12.6 million in the third quarter of fiscal year 2007. Included in the third quarter revenue was $4.0 million related to Anti-Tamper (AT) technology products. The increase is primarily due to the shipment of orders received in recent quarters.

Military/industrial sales in the display segment were $2.8 million for the three months ended June 28, 2008, consistent with the $2.8 million for the three months ended June 30, 2007.

Commercial sales in the display segment were $3.2 million for the three months ended June 28, 2008, a decrease of $2.8 million, or 47%, from $6.0 million for the three months ended June 30, 2007.

Net sales were $58.2 million for the first nine months of fiscal 2008 compared to $56.1 million in the first nine months of fiscal 2007. Income from continuing operations for the nine months ended June 28, 2008 was $0.5 million, or $0.02, per diluted share. The Company's nine months results for 2008 were adversely impacted by the $3.5 million, or $0.16 per share, non-cash write-down of goodwill and $0.2 million, or $0.01 per share, in severance costs related to our cost reduction efforts at our display reporting unit. Income from continuing operations was $3.5 million, or $0.15 per diluted share, for the first nine months of fiscal 2007.

"We are refocusing our business, having discontinued certain operations that are not part of our core business, in order to drive continued future profitability and enhanced shareholder value. We believe that our resources, engineering expertise and our research and development capabilities can be more efficiently utilized in the military market," said Hamid Shokrgozar, Chairman and Chief Executive Officer of White Electronic Designs Corporation. "Revenues in the military microelectronics business continued to exhibit consistent growth during the third quarter, with revenues up 9% over the comparable quarter a year ago. We are also pleased that the growth in this market has been consistent and indications point to a continuation of this trend going forward."

Mr. Shokrgozar continued, "We continue to experience consistent bookings from our military customers and expect this trend to continue for the remainder of the fiscal year. New military microelectronic segment orders received during the quarter totaled $10.1 million. Our backlog as of June 28, 2008 for the military microelectronic segment was solid at $31.6 million.

"We are pleased to show improvement in gross margins during the quarter to 37% from 35% when compared to the same period of fiscal year 2007. As a corporation with a strong cash position -- approaching $50 million -- no debt and an increasingly more focused company, we look to the future with increased confidence," concluded Mr. Shokrgozar.

The Company's balance sheet remains strong as we have generated $1.2 million in cash since the end of fiscal 2007, while at the same time repurchasing $3.2 million of our common stock during the year. Our inventory levels have decreased $2.0 million and we invested $2.6 million in new equipment, $2.3 million of which was attributable to the microelectronic segment.

On April 2, 2008, the Company announced the planned disposal of the Interface Electronics Division ("IED") and the commercial microelectronic product lines. The decision resulted from an effort to streamline the Company's businesses to focus on product lines where the Company has superior technical knowledge, specialized manufacturing capabilities and an ongoing commitment to research and development. We believe this course of action will increase shareholder value and allow us to focus on growing our business both organically and through other alternatives, including potential acquisitions. As a result of our decision to dispose of these product lines, we have accounted for them as discontinued operations. All prior periods have been reclassified to conform to the current period presentation.

In connection with this disposal, we recorded and paid out approximately $0.2 million in severance and retention costs in the third quarter of fiscal 2008. Based on market factors and the consideration being discussed in connection with the disposal of the product lines, we recorded a non-cash, pre-tax impairment charge of approximately $3.5 million in the second quarter of fiscal 2008 related to the customer relationship and existing technology intangibles of these reporting units and a write-down of inventory. After further market analysis and in light of declining economic factors, we recorded an additional non-cash, pre-tax charge of $1.1 million related to fixed assets and inventory during the third quarter of fiscal 2008.

Including the above charges, net loss for the third quarter of fiscal 2008 was $2.0 million, or $0.09 per diluted share, compared with net income of $1.4 million, or $0.06 per diluted share, in the third quarter of fiscal 2007.

Including the noted charges in connection with the disposal of the product lines, the Company reported a net loss for the nine months ended June 28, 2008 of $3.4 million, or $0.15 per diluted share, compared with net income of $2.8 million, or $0.11 per diluted share, for the nine months ended June 30, 2007.

Key Microelectronic segment awards during the quarter included:

-- Received continuous follow-on orders of over $0.5 million to provide multi-chip modules for the European Fighter Aircraft.

-- Received approximately $0.6 million of sustaining business interest and development of AT applications in conjunction with GPS receivers that are included on large-scale defense programs.

-- Received multiple orders totaling over $8.0 million for contracts to provide various military grade multichip modules for major programs.

Key Display segment awards during the quarter included:

-- Received follow-on display enhancement orders totaling over $1.3 million for rugged display enhancement applications for transportation, commercial avionics and medical applications.

-- Received multiple follow-on electromechanical and interface related product orders for various military applications totaling approximately $1.6 million.

Listed below are our fiscal 2008 strategic initiatives and an update for each:

-- Pursuit of Circuit Card Assembly ("CCA") for military customers. Update: As previously disclosed, we have finalized the layout of a complete GPS receiver, including RF, power supplies, and signal conditioning. We have also recently acquired additional equipment which now gives us four high-end SMT lines. The original $0.8 million pre-production order for the delivery of prototypes of a complete CCA for use in a GPS communications receiver, which was received in fiscal year 2007, has been completed and field tests were positive. The design of the second phase of this program has also finished and pre-production is scheduled for completion in the first quarter of fiscal 2009. During the quarter we secured the first release of a complete GPS receiver build as well as an order for a very small form factor GPS receiver for radio applications for delivery in fiscal 2009 and beyond. We will continue our efforts to create CCA manufacturing partnerships with additional customers.

-- Next generation Anti-Tamper ("AT") technology. Update: The new coating process has passed the required qualification procedures and is expected to become part of the production process in the first or second quarter of fiscal 2009. Meanwhile, we continue to secure AT based production orders using our existing technology.

-- Next generation display enhancement technology, Max-Vu(TM) II technology. Update: During the quarter we began pilot production and process validation with a high volume customer. Due to a lower cost structure, we believe we will be able to penetrate markets not previously served by our Max-Vu(TM) I process. We estimate that the new Max-Vu(TM) II process will be part of the production process by the first quarter of fiscal year 2009. We continue to work with new customers to expand promotion of this technology into new industries requiring optically bonded displays. However, the softness in the marketplace may delay new opportunities.

-- Fully integrated Touch Panel display products. Update: We continue to demonstrate sunlight readable ("SR") display systems with integrated touch sensors to customers. We have developed SR touch prototypes for several leading PC manufacturers and have qualified a sensor-bonded LCD for one of these manufacturers. These displays have very low reflectance while retaining excellent brightness, enabling their use in very high brightness environments. By utilizing our Max-Vu(TM) optical bonding process, the clarity and contrast of these display systems are excellent and the stiffness and strength of the display system are substantially enhanced, increasing the ruggedness of the display and the quality of the touch or pen feel when using the touch sensor. We anticipate future orders from these demonstrations, samples and prototypes. However, the softness in the marketplace may delay new opportunities.

-- Continue the stock repurchase program. Update: In April 2008, we announced our third repurchase program to acquire up to an additional 10%, or approximately 2.2 million shares, of the Company's common stock. The duration of the program is twenty-four months and any purchases will be funded from our cash balances and operating cash flows. The timing and amount of any purchases under this program will depend on market conditions and corporate and regulatory considerations. During the quarter we purchased 13,179 shares at an average price of $4.73 per share.

-- Pursuing strategic alternatives. Update: We believe our current decision to dispose of our IED and commercial microelectronics product lines will increase shareholder value. We will continue to evaluate various strategic alternatives to further increase shareholder value. This includes mergers and/or acquisitions that we believe could expand and augment our existing businesses, and other related activities.

Conference Call

The Company will conduct a conference call to review the results of the quarter today at 4:30 p.m. ET. Interested parties can access the call by dialing (877) 407-8031 (domestic) or (201) 689-8031 (international). A replay of the call will be available at (877) 660-6853 (domestic) or (201) 612-7415 (international), account number 286, access number 291720 for 7 days following the call. A live web cast of the call will be available at http://www.investorcalendar.com/IC/CEPage.asp?ID=132266. The online replay will be available shortly after the end of the call and can be reached at http://www.vcall.com/. After accessing the Vcall site enter the Company's symbol, WEDC. The webcast will be archived for the following 12 months.

About WEDC

White Electronic Designs Corporation designs and manufactures innovative high technology components, systems, and branded products for military, industrial, medical and commercial markets. Our Microelectronic products include high-density memory packages and advanced self contained multi-chip and system-in-a-chip modules that are used in a growing range of applications across the Company's markets. White Electronic Designs also produces anti-tamper security coatings for mission-critical semiconductor components in defense applications. Our Display segment designs and manufactures enhanced and reinforced high-legibility flat-panel displays for commercial, medical, defense and aerospace systems. The segment also designs and manufactures digital keyboard and touch-screen operator-interface systems, and electromechanical assemblies for commercial, industrial and military systems. White is headquartered in Phoenix, Arizona and has design and manufacturing centers in Arizona, Indiana, Ohio, and Oregon and manufacturing relationships in China. To learn more about White Electronic Designs Corporation's business, as well as employment opportunities, visit our website at http://www.whiteedc.com/.

Cautionary Statement

This press release contains forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. The words, "believe," "expect," "anticipate," "estimate," "will" and other similar statements of expectation identify forward-looking statements. Specific forward looking statements included in this press release include our expectations that we will achieve growth in fiscal 2008 and that the bulk of such growth will occur in the second half of the fiscal year; that we will achieve military microelectronics sales growth for the balance of fiscal 2008; that financial results in the coming quarters will benefit as a result of our backlog and improved bookings; that our bookings in the quarter will translate into future sales; that the pre-production of the second phase of our CCA program for military customers will be completed in the first quarter of fiscal 2009; that the new coating process of our next generation AT technology is expected to become part of the production process in the first or second quarter of fiscal 2009; that we will be able to penetrate markets not previously served by our Max-Vu(TM) I process; that the Max-Vu(TM) II process will be part of our production process by the first quarter of fiscal year 2009; that future orders will be received as a result of demonstrations, samples and prototypes of our Touch Panel display products; that the Company will realize its estimated value of the discontinued operations; that the Company will make repurchases of its common stock pursuant to its current repurchase program; and that the Company will achieve the strategic alternatives that it is pursuing. These forward-looking statements speak only as of the date the statement was made and are based upon management's current expectations and beliefs and are subject to a number of risks and uncertainties, some of which cannot be predicted or quantified, that could cause actual results to differ materially from those described in the forward-looking statements. In particular, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the difficulties associated with successfully integrating acquired businesses and technologies, reductions in demand for the Company's products, the loss of a significant customer, the inability to procure required components, any further downturn in the high technology data and telecommunications industries, reductions in military spending or changes in the acquisition requirements for military products, the termination or amendment of the new contracts awarded during the quarter, the inability to develop, introduce and sell new products or the inability to develop and implement new manufacturing technologies, and changes or restrictions in the practices, rules and regulations relating to sales in international markets.

Additionally, other factors that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements are included in to the Company's Annual Report on Form 10-K for the year ended September 29, 2007 under the heading "Item 1A Risk Factors" and in subsequent quarterly filings on Form 10-Q. You are cautioned not to place undue reliance on our forward-looking statements. We do not undertake any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this press release, or to reflect the occurrence of unanticipated events.

WHITE ELECTRONIC DESIGNS CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share data) June 28, September 29, 2008 2007 ASSETS Current Assets Cash and cash equivalents $49,816 $48,652 Accounts receivable, less allowance for doubtful accounts of $218 and $223 12,136 13,200 Inventories 20,896 22,919 Prepaid expenses and other current assets 3,116 723 Deferred income taxes 4,026 2,767 Assets held for sale 9,141 13,835 Total Current Assets 99,131 102,096 Property, plant and equipment, net 10,936 10,685 Deferred income taxes 1,602 2,104 Goodwill 1,764 5,306 Other assets 117 118 Assets held for sale 987 4,470 Total Assets $114,537 $124,779 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable $2,527 $4,385 Accrued salaries and benefits 1,570 1,155 Other accrued expenses 1,833 2,447 Deferred revenue 5,141 4,736 Liabilities related to assets held for sale 1,612 3,142 Total Current Liabilities 12,683 15,865 Accrued pension liability 210 271 Other liabilities 1,031 1,222 Liabilities related to assets held for sale 34 1,049 Total Liabilities 13,958 18,407 Commitments and Contingencies Shareholders' Equity Preferred stock, 1,000,000 shares authorized, no shares issued - - Common stock, $0.10 stated value, 60,000,000 shares authorized, 24,899,651 and 24,841,586 shares issued 2,490 2,484 Treasury stock, 2,464,371 and 1,828,412 shares, at par (246) (183) Additional paid-in capital 81,372 83,787 Retained earnings 16,871 20,228 Accumulated other comprehensive income 92 56 Total Shareholders' Equity 100,579 106,372 Total Liabilities and Shareholders' Equity $114,537 $124,779 WHITE ELECTRONIC DESIGNS CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except share and per share data) Three Months Ended Nine Months Ended June 28, June 30, June 28, June 30, 2008 2007 2008 2007 Net sales $19,648 $21,464 $58,187 $56,130 Cost of sales 12,399 13,963 37,871 36,536 Gross profit 7,249 7,501 20,316 19,594 Operating expenses: Selling, general and administrative 4,496 4,248 13,113 12,651 Research and development 1,530 1,154 4,239 3,669 Goodwill impairment 3,542 - 3,542 - Total operating expenses 9,568 5,402 20,894 16,320 Operating income (loss) (2,319) 2,099 (578) 3,274 Interest income 242 590 1,267 1,892 Income (loss) from continuing operations before income taxes (2,077) 2,689 689 5,166 (Provision for) benefit from income taxes 610 (918) (187) (1,623) Income (loss) from continuing operations (1,467) 1,771 502 3,543 Discontinued operations: Income (loss) from discontinued operations, net of tax 224 (385) (840) (784) Loss on sale of discontinued operations, net of tax (786) - (3,019) - Loss from discontinued operations (562) (385) (3,859) (784) Net income (loss) $(2,029) $1,386 $(3,357) $2,759 Income (loss) from continuing operations per common share: Basic $(0.07) $0.08 $0.02 $0.15 Diluted $(0.07) $0.07 $0.02 $0.15 Loss from discontinued operations per common share: Basic $(0.03) $(0.02) $(0.17) $(0.03) Diluted $(0.03) $(0.02) $(0.17) $(0.03) Net income (loss) per common share: Basic $(0.09) $0.06 $(0.15) $0.12 Diluted $(0.09) $0.06 $(0.15) $0.11 Weighted average number of common shares and equivalents: Basic 22,440,431 23,554,531 22,525,069 23,630,584 Diluted 22,440,431 23,970,142 22,866,801 24,112,875 Contact: Hamid Shokrgozar Lytham Partners, LLC Chairman and CEO White Electronic Designs Corporation Joe Diaz, Joe Dorame, Robert Blum (602) 437-1520 (602) 889-9700 hamid@wedc.com diaz@lythampartners.com

White Electronic Designs Corporation

CONTACT: Hamid Shokrgozar, Chairman and CEO of White Electronic Designs
Corporation, +1-602-437-1520, hamid@wedc.com; or Joe Diaz,
diaz@lythampartners.com, Joe Dorame or Robert Blum, all of Lytham Partners,
LLC, +1-602-889-9700, for White Electronic Designs Corporation

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

Electronic Game Card Inc. Reports Second Quarter 2008 EarningsCompany achieves 69 percent year-over-year second quarter revenue increaseCompany generates operating margins stand of 57 percent and gross margins of 75 percent

NEW YORK and LONDON, Aug. 7 /PRNewswire-FirstCall/ -- Electronic Game Card, Inc. (BULLETIN BOARD: EGMI) ("EGC"), today reported financial results for the second quarter ended June 30, 2008, marking the Company's sixth sequential quarter of profitable growth. Since year end 2007, Electronic Game Card was issued its first series of patents, received Gaming Laboratory International approval, announced its entry into two new markets, and nominated Lord Steinberg as its executive chairman as well as two additional Board members. A proxy was issued on July 24, 2008 to give notice of the company's annual meeting of stockholders to be held on Tuesday, September 2, 2008 in New York, N.Y. for the purposes of Board election and to ratify the selection of independent auditors.

Electronic Game Card, Inc. reported second quarter 2008 revenues of $2.5 million, an increase of approximately 69 percent from the prior year second quarter level of $1.5 million and an 8 percent increase compared to revenues of $2.3 million in the first quarter of 2008.

The Company reported a comprehensive net income applicable to common stockholders of $1.34 million or $0.021 per diluted share for the second quarter of 2008 versus $668,000 or $0.011 per diluted share for the second quarter 2007 and a net income of $1.29 million or $0.021 per diluted share for the first quarter 2008. Second quarter 2008 operating income was $1.42 million compared to $754,000 in the comparable period of 2007 and $1.38 million achieved during the first quarter 2008.

For the three months ended June 30, 2008, Electronic Game Card's gross profit on revenue totaled $1.9 million yielding a gross margin of 75 percent, representing the sixth consecutive quarter of gross margin in excess of company's target level of approximately 70 percent.

Operating expenses during the second quarter 2008 totaled $452,000, an increase of approximately $116,000 percent over the second quarter 2007, which was attributed to an increase in consulting expenses of $64,000 due to development work on new products and an increase in sales, general and administrative expenses of $57,000 as the company continued its shift towards outsourcing. Operating expenses increased by $84,000 from the prior first quarter 2008 predominately as a result of an increase in sales and marketing expenses as the company expands its existing reach and launches new markets.

Interest expense incurred during the quarter was reduced by approximately $20,000 over the previous second quarter to $147,000. This compares with interest expense of $148,000 in the first quarter of 2008. Interest income totaled $62,000.

For the six months ended June 30, 2008, Electronic Game Card revenues increased to $4.8 million, a 94 percent increase compared to the comparable period in 2007. Comprehensive Net income applicable to common shareholder significantly improved for the current year six month period to $2.6 million or $0.041 per diluted share, compared to $883,000 or $0.015 per diluted share for the comparable period in 2007.

Cash and equivalents on June 30, 2008 were $6.9 million, an increase of approximately $2.2 million from year end December 31, 2007 and an increase of $1.2 million from the period ending March 31, 2008. Accounts receivable remained approximately flat with the prior first quarter 2008 at $2.6 million. Total liabilities increased by $100,000 over the three month period to $2.0 million, excluding the 6 percent convertible redeemable preferred debt, which stands at $6.5 million since year end 2007.

As of June 30, 2008, Electronic Game Card had approximately 51.4 million shares of common stock outstanding. The Company's weighted average number of common shares fully diluted totaled 64.9 million (inclusive of the all options, warrants and the common stock underlying the convertible redeemable preferred debt). The aggregate proceeds if all options and warrants were to be exercised would total in excess of $2.4 million. As of June 30, 2008 the Company had net operating tax loss carry forwards in excess of $24.7 million that may be used to offset future taxable income through 2023. As of December 31, 2007, Electronic Game Card achieved positive stockholders equity for the first time in the Company's history. On June 30, 2008, the Company's stockholder's equity totaled $5.9 million, an increase of $2.0 million from March 30, 2008.

"During this second quarter Electronic Game Card strengthened its financial liquidity position as current assets exceeded current liabilities and debt for the first time. As of 31st December 2007 year end the company had current assets of $7.4 million against current liabilities of $1.4 million and redeemable convertible notes of $7.5 million, whilst at June 30th the company has current assets of $9.7 million against current liabilities of $2.0 million and redeemable convertible notes of $6.5 million," commented a company spokesperson.

"Over the past two years, the current management effort has right-sized the company and implemented a profitable business model with a large and growing addressable market. Our goal for 2008 continues to be to penetrate new and existing markets, continue to grow our patented IP and build successful distribution partnerships. We maintain our high degree of confidence in our $0.10 fully diluted earnings per share guidance for 2008 and have already begun to build a strong and growing pipeline to accomplish our $0.14 guidance for 2009. We intend to leave a strong foundation in place so that the next administration led, with shareholder approval, by Lord Steinberg can take our Company to the next level."

CONFERENCE CALL Conference Call Details: Date/Time: Friday, August 8, 2008-10:00 a.m. (ET) Telephone Number: 888-713-4214 International Dial-In Number: 617-213-4866 Participant Pass code: 12619290 Internet Access: http://www.electronicgamecard.com/ or http://www.earnings.com/

It is recommended that participants phone-in at least 10 minutes before the call is scheduled to begin. Participants may pre-register for the call at - https://www.theconferencingservice.com/prereg/key.process?key=P9B7GCAKF

Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection. A replay of the conference call in its entirety will be available approximately one hour after its completion by dialing 888-286-8010 (U.S.), 617-801-6888 (International) and entering the pass code 27009948 and on the Internet at http://www.earnings.com/.

Contact: Yvonne L. Zappulla Managing Director Grannus Financial Advisors, Inc. Call 212-681-4108 or e-mail yvonne@grannusfinancial.com or Roger Holdom Electronic Game Card, Inc. Call +44 207 451 2480 or e-mail investor.relations@electronicgamecard.com About Electronic Game Card. Inc.

Electronic Game Card Inc., (BULLETIN BOARD: EGMI) , develops, produces and markets innovative games to the promotional industry worldwide, toys and games, casinos and lottery. The Company's lead product is the EGC Electronic GameCard(TM), a unique credit card-sized pocket game combining patent-pending proprietary technology of interactive capability with "instant win" excitement. The "EGC Electronic GameCard(TM)" can be programmed to suit a variety of gaming and promotion applications.

EGMI's client base is across the $100 billion global market of sales promotion, gaming and casinos, Indian gaming and state and national lotteries markets. EGMI develops sales and marketing relationships with agents and distributors globally and currently has agents and distributors in North America, United Kingdom, Ireland, Mexico, Italy, Sweden, Norway, Denmark, Finland , South Africa Australia, New Zealand and Japan.

For further information please visit http://www.electronicgamecard.com/

February 2008, Electronic GameCard(TM) received Gaming Laboratory International approval for security and product robustness. In July 2005, the Public Gaming Research Institute (PGRI) named the Electronic GameCard(TM) as a 2005 Lottery Product of the Year.

Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Risk factors are listed in the most recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission.

*** Financial Statements Follow *** ELECTRONIC GAME CARD, INC. CONSOLIDATED BALANCE SHEETS June 30, December 31, 2008 2007 (Unaudited) ASSETS Current assets: Cash and cash equivalents $6,885,351 $4,753,040 Accounts receivable 2,528,205 2,323,543 Deposit on inventory 70,071 70,071 Other receivables 170,728 92,100 VAT receivable 15,402 31,531 Deferred charges 114,357 190,595 Total current assets 9,784,114 7,460,880 Net property, plant and equipment 33,749 44,050 Intangible assets, net 183,034 183,034 Investments, at cost 4,500,564 2,886,427 Total assets $14,501,461 $10,574,391 LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT) Current liabilities: Accounts payable $719,245 $659,891 Accrued liabilities 770,884 560,046 Total current liabilities 1,490,129 1,219,937 Deferred license fees 529,625 779,625 Total liabilities 2,019,755 1,999,562 Series A 6% convertible redeemable preferred stock, $.001 par value, 10,000,000 shares authorized; 6,549,922 and 7,582,806 shares issued and outstanding at June 30, 2008 and December 31, 2007, respectively 6,549,922 7,582,806 Shareholders' equity/(deficit) Common stock, $.001 par value, 100,000,000 shares authorized; 48,011,851 and 51,439,633 shares issued and outstanding at December 31, 2007 and June 30, 2008, respectively 51,439 48,012 Capital in excess of par value 29,569,401 27,264,272 Accumulated deficit (22,713,294) (25,463,568) Accumulated other comprehensive loss (975,761) (856,693) Total shareholders' equity 5,931,785 992,023 Total liabilities and shareholders' equity $14,501,461 $10,574,391 ELECTRONIC GAME CARD, INC. Consolidated Statements of Operations (Unaudited) For the Three Months For the Six Months Ended Ended June 30, June 30, 2008 2007 2008 2007 Revenue $2,485,683 $1,474,356 $4,780,304 $2,464,894 Cost of sales 612,589 385,007 1,161,589 640,352 Gross profit 1,873,094 1,089,349 3,618,715 1,824,542 Operating expenses Sales and marketing 40,564 2,798 41,355 3,971 General and administrative 199,449 180,597 327,598 285,215 Consulting expenses 125,667 61,853 277,149 156,858 Salaries and wages 86,105 90,335 172,990 202,579 Loss from joint venture - - - 18,638 Total operating expenses 451,785 335,583 819,092 667,261 Income from operations 1,421,309 753,766 2,799,623 1,157,281 Other income (expense) Interest income 61,669 55,413 123,245 98,114 Interest expense (147,432) (167,605) (295,494) (335,661) Gain on termination of joint venture - 31,127 - 31,127 Gain on sale of investments 122,900 - 122,900 - Total other income (expense) 37,137 (81,065) (49,349) (206,420) Net income 1,458,446 672,701 $2,750,274 $950,861 Foreign currency translation loss (114,719) (4,760) (119,068) (67,809) Comprehensive income 1,343,727 667,941 $2,631,206 $883,052 Net income per common share ( basic ) $0.03 $0.02 $0.05 $0.02 Weighted average number of shares outstanding (basic) 51,439,633 44,168,683 50,031,766 44,168,683 Net income per common share ( diluted ) $0.02 $0.01 $0.04 $0.02 Weighted average number of shares outstanding (diluted) 64,871,010 57,934,857 64,091,569 57,934,857

Electronic Game Card, Inc.

CONTACT: Yvonne L. Zappulla, Managing Director, Grannus Financial
Advisors, Inc., +1-212-681-4108, yvonne@grannusfinancial.com; or Roger Holdom,
Electronic Game Card, Inc., +44 207 451 2480,
investor.relations@electronicgamecard.com

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

PEER 1 to Present at the Canaccord Adams Annual Global Growth Conference

VANCOUVER, Aug. 7 /PRNewswire-FirstCall/ -- PEER 1 Network Enterprises, Inc. (TSX: PIX), a leading provider of online IT infrastructure, announced today that president and CEO Fabio M. Banducci, and executive vice president and CFO Gary Sherlock, will present at the Canaccord Adams Annual Global Growth Conference at the InterContinental Hotel in Boston, Massachusetts. PEER 1's presentation will take place at 8:30 am (EDT) on Thursday, August 14th.

The presentation will provide participants with insight into the Company's hosting services, their position in this growing market segment, the unique advantages provided by their network infrastructure, and their performance to date.

A webcast of this presentation will be available at: http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=PIX.TO&item_id=1887823 About PEER 1

PEER 1, a leading online IT infrastructure provider, believes in the limitless opportunity of the Internet and the business growth and continuity it provides for its more than 9,000 customers. PEER 1 delivers highly scalable managed hosting and co-location solutions to ensure customers' online presence is always fast, always available. Since 1999, PEER 1 has grown to include data centers and network points of presence in 17 major cities across North America and Europe. Serving a variety of companies, PEER 1 offers solutions that grow through every stage of web commerce, regardless of company size. The company's headquarters are in Vancouver, Canada and the stock is traded on the TSX under the symbol PIX. For more information please visit http://www.peer1.com/ or http://www.serverbeach.com/.

ABOUT CANACCORD CAPITAL INC.:

Through its principal subsidiaries, Canaccord Capital Inc. (TSX & AIM: CCI) is a leading independent full-service investment dealer in Canada, with capital markets operations in the United Kingdom and the United States of America. Canaccord is publicly traded on both the Toronto Stock Exchange and AIM, a market operated by the London Stock Exchange. Canaccord has operations in two of the principal segments of the securities industry: private client services and capital markets. Together these operations offer a wide range of complementary investment products, brokerage services and investment banking services to Canaccord's private, institutional and corporate clients. Canaccord has approximately 1,570 employees worldwide in 31 offices, including 23 Private Client Services offices located across Canada. Canaccord Adams, the international capital markets division, has operations in Toronto, London, Boston, Vancouver, New York, Calgary, Montreal, San Francisco, Houston and Barbados.

Peer 1 Network Enterprises, Inc.

CONTACT: For media inquiries please contact Abigail Faylor, Weber
Shandwick, (425) 452-5497, afaylor@webershandwick.com; For investor inquiries
please contact Thomas McMillan, Equicom Group, (403) 536-5903,
tmcmillan@equicomgroup.com; or Gary Sherlock, Executive Vice President and
CFO, (604) 683-7747; Web Site: http://www.peer1.com/ or
http://www.serverbeach.com/

eDiets.com to Present at Canaccord Adams Growth Conference

FORT LAUDERDALE, Fla., Aug. 7 /PRNewswire-FirstCall/ -- eDiets.com, Inc. , leveraging the power of technology to bring diet, fitness and healthy lifestyle solutions to everyone, announced today that Tom Hoyer, the Company's Chief Financial Officer, and Kimberly Evenson, SVP of Marketing, will be presenting at the Canaccord Adams 28th Annual Global Growth Conference at the InterContinental in Boston, MA, August 12-14, 2008.

The eDiets.com presentation is scheduled for 8:00 a.m. ET, Tuesday, August 12, 2008. The presentation will be webcast live and archived online at the Investor Relations section of the Company's website at http://www.ediets.com/ .

About eDiets

eDiets.com, Inc. is a leading provider of personalized nutrition, fitness and weight-loss programs. eDiets currently features its award-winning, fresh-prepared diet meal delivery service as one of the more than 20 popular diet plans sold directly to members on its flagship site, http://www.ediets.com/. The company also provides a broad range of customized wellness and weight management solutions for Fortune 500 clients. eDiets.com's unique infrastructure offers businesses, as well as individuals, an end-to-end solution strategically tailored to meet its customers' specific goals of achieving a healthy lifestyle. For more information, please call 310-954-1105 or visit http://www.ediets.com/ .

eDiets.com, Inc.

CONTACT: Media Relations: Kathleen Berzon, Public Relations Director,
eDiets.com, Inc., +1-954-703-6188, kberzon@ediets.com, Investor Relations:
John Mills, ICR, Inc., +1-310-954-1105, John.Mills@icrinc.com, for eDiets.com,
Inc.

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

PECO II Adds Bryan Thompson to Sales Organization

GALION, Ohio, Aug. 7 /PRNewswire-FirstCall/ -- PECO II, Inc. , a communications industry power systems and services provider, announced today that Bryan Thompson has joined the Company's sales team as director of major accounts. Thompson's primary role will be to develop new market opportunities for PECO's growing base of products and services.

Thompson brings more than 20 years of experience in AC and DC power systems and components to PECO II. Most recently he was director of global strategic accounts for TDI Power, where he established a solid track record of growing sales with new customers.

"Bryan has the ideal mix of customer, market and application knowledge to grow our sales in new markets," said Jacquie Boyer, PECO II vice president of sales. "It was a huge win for PECO to attract someone of his caliber. His experience and passion for the industry make Bryan a welcome addition to an outstanding team of sales professionals."

Thompson said, "PECO II is an exciting opportunity and natural fit for me. I'm delighted to join a company that puts the customer first, and emphasizes responsiveness as a differentiator. PECO's legacy and reputation, coupled with its new product introductions, position the Company to be a winner in the highly competitive telecom power market."

Thompson will be based in Atlanta. About PECO II, Inc.

PECO II, headquartered in Galion, Ohio, designs, manufactures, and markets communications power systems and power distribution equipment, and provides engineering and on-site installation services. As the largest independent full-service provider of telecommunications power systems, the Company provides total power quality and reliability solutions, and supports the power infrastructure needs of communications service providers in the wireline, wireless, and broadband markets. Additional information about PECO II can be found at http://www.peco2.com/.

Forward-Looking Statements

Statements in this release that are not historical fact are forward- looking statements, which involve risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied in such statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, a general economic recession; a downturn in our principal customers' businesses; the growth in the communications industry; the ability to develop and market new products and product enhancements; the ability to attract and retain customers; competition and technological change; and successful implementation of the Company's business strategy. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. PECO II does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in PECO II's periodic filings with the Securities and Exchange Commission.

Information in the press release, including product prices and specifications, content of services and contact information, is current on the date of the press announcement, but is subject to change without prior notice.

PECO II, Inc.

CONTACT: Kevin Borders, Vice President, Marketing and Engineering, PECO
II, Inc., +1-419-468-7600

Web site: http://www.peco2.com/

DISH Network(R) and Ensequence Partner With NBC Universal to Deliver Innovative Interactive TV Experience for 2008 Beijing Olympic GamesSix-Screen Mosaic and Interactive Triggers Enhance NBCU's 2008 Beijing Olympic Games Viewing Experience

NEW YORK and ENGLEWOOD, Colo., Aug. 7 /PRNewswire-FirstCall/ -- DISH Network Corporation , the third largest pay-TV provider and the digital transition leader, and Ensequence, the interactive TV company, today announced that NBC Universal (NBCU) has selected them to transform NBCU's coverage of the 2008 Beijing Olympic Games into a fully interactive experience.

DISH Network(R) will offer NBCU's 2008 Beijing Olympic Games coverage through its Interactive TV (iTV) mosaic, a multiple-screen showcase, available to more than 12 million iTV-enabled DISH Network subscribers. Airing from August 8 - August 24, 2008, the iTV mosaic will broadcast from six NBCU channels: CNBC, MSNBC, Oxygen, USA Network and two Olympic highlight channels. DISH Network subscribers can watch all six screens simultaneously or select one channel to watch in full-screen.

"DISH Network's iTV mosaic is an excellent platform to showcase NBCU's coverage of the 2008 Beijing Olympic Games by giving customers a unique viewing experience that allows them to watch four live events and two highlight channels or select one channel for full-screen viewing," said Michael Kelly, executive vice president of DISH Network. "The mosaic is an important component of DISH Network's more than 25 existing iTV channels -- the most offered by any pay-TV provider in the U.S. -- and serves as a great option for fans of NBCU's 2008 Olympic Games coverage to follow their favorite events and athletes."

In addition, Ensequence was chosen by NBCU to provide a separate interactive application on DishHOME (DISH Network Ch. 100). NBCU's 2008 Beijing Olympic Games experience wraps interactivity around live programming on DISH Network. Viewers are able to use their remote control to instantly:

-- Access athlete profiles -- Read late-breaking news -- View video highlights of the day's events -- Track each country's medal counts -- Learn more about featured sponsors -- See the team USA Report -- Learn more about Beijing and the event venues

This represents the second time that NBCU and Ensequence have teamed up to deliver interactive television to viewers.

"NBC Universal and DISH Network continue to set the pace for the entire industry with interactive television and we're excited to be partnering with them to create and deliver the 2008 Beijing Olympic Games interactive television experience," said Dalen Harrison, Ensequence CEO. "The world's most innovative programmers such as NBC Universal are realizing that interactive television delivers the engagement and accountability of the internet, giving them the best of both worlds."

DISH Network recently announced the addition of two high-definition specialty channels to its HD line-up solely dedicated to the 2008 Beijing Olympic Games. The NBC Olympic Soccer Channel and NBC Olympic Basketball Channel will offer customers HD coverage of each sport for 24-hours per day during the Games. For more information about the 2008 Beijing Olympic Games, visit NBCOlympics.com via the DISH website. DISH Network, including its comprehensive iTV line-up, call 800-333-DISH (3474) or visit http://www.dishnetwork.com/. For more information about Ensequence, visit http://www.ensequence.com/.

About DISH Network Corporation

DISH Network Corporation , the nation's third largest pay-TV provider and the leader in digital television, provides more than 13.79 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.

About Ensequence

Ensequence, the interactive television company, is changing the future of television. Ensequence partners with the world's most innovative programmers, advertisers and distributors to create the most sophisticated interactive television experiences and deliver these experiences across the widest range of platforms -- including television, broadband, mobile devices and Blu-ray Discs. The combination of their award-winning software suites and professional services makes it possible to dynamically build and quickly deploy highly targeted interactive television content and easily measure results with near real-time, web-like performance metrics. Ensequence clients include: MTV Networks, NBC Universal, ESPN, The Walt Disney Company, Major League Baseball Advanced Media, QVC, HSN, Nike, Ford Motor Company, Hewlett-Packard, DIRECTV, DISH Network and British Sky Broadcasting. To experience the future of television, visit http://www.ensequence.com/.

DISH Network Corporation

CONTACT: Francie Bauer of DISH Network, +1-720-514-5351;
press@echostar.com, or Michele Bogdan of Ensequence, +1-415-218-6996,
michele.bogdan@ensequence.com

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

Hong Kong Logistics Mission Targets ChicagouBid.com Holdings to Host Hong Kong Business Leaders in November

CHICAGO, Aug. 7 /PRNewswire-FirstCall/ -- uBid.com Holdings, Inc. (BULLETIN BOARD: UBHI) , a leading asset recovery solutions company, today announced that it will host the 2008 HKTDC Logistics Sector Trade Mission to the United States.

(Logo: http://www.newscom.com/cgi-bin/prnh/20060206/CGM036LOGO)

The Hong Kong Trade Development Council (HKTDC), organizer of the mission, has named uBid.com Holdings, Inc. to host the e-commerce facilities tour for the Hong Kong group. The mission program, November 16 to 21, will cover Illinois and California. The 10-member delegation will visit selected facilities in Chicago, including the uBid warehouse in Naperville, Illinois. An operational briefing and discussion of 3PL (Pick, Pack and Ship) operations for e-commerce has also been arranged.

The November trade mission will spotlight Chicago's role as North America's leading inter-modal transportation hub, while promoting Hong Kong's role as Asia's premier logistics hub.

"Asset recovery solutions is a growth area in the U.S. e-commerce space," said Richard Tam, HKTDC Director, Chicago office. "We look forward to learning more about the logistics issues and challenges faced by the sector during our program with uBid."

"We are very pleased that the HKTDC delegation has selected us to host the mission," said uBid.com Holdings' Chief Executive Officer Jeff Hoffman. "It's very encouraging as we implement our global strategy."

For more information please visit http://www.ubid.com/. About the HKTDC

Established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 offices worldwide, including 11 in the Chinese mainland and three in the US, the HKTDC promotes Hong Kong as a platform for doing business with China and Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, visit http://www.hktdc.com/

About uBid.com Holdings, Inc.

uBid.com Holdings, Inc. is the world's leading excess inventory solutions company that links brand name sellers with customers around the globe. uBid.com Holdings, Inc. does this through its multi-channel asset-recovery solution that includes an online auction platform located at http://www.ubid.com/, physical facilities liquidation and a business-to-business selling platform. Brand name sellers are able to reduce excess inventory more efficiently and profitably than ever before. And however they choose to buy, shoppers now have an inside connection to the world's most trusted brands at prices far below retail. With more than 10 years experience in online commerce, uBid Holdings, Inc. is headquartered in Chicago, IL.

uBid.com Holdings, Inc. is publicly-traded on the NASD OTC bulletin board (UBHI.OB).

SEC Filings and Forward-Looking Statements

Additional information about uBid.com is in the company's annual report on Form 10-K, filed with the Securities and Exchange Commission.

Certain statements made in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements using terminology such as "anticipate," "believe," "estimate," "expect," "intend," "may," "could," "possible," "plan," "project," "should," "will," "forecast," and similar words or expressions. uBid.com Holdings, Inc. intends that all forward-looking statements be subject to the safe harbor provisions of the Private Securities Litigation Reform Act. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of uBid.com Holdings, Inc. and the industries and markets in which uBid.com Holdings, Inc. operates. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. Factors which may affect the forward looking statement identified above and uBid.com Holdings, Inc.'s business, financial condition and operating results generally include the effects of adverse changes in the economy, reductions in consumer spending, declines in the financial markets and the industries in which uBid.com Holdings, Inc. and its partners operate, adverse changes affecting the Internet and e-commerce, the ability of uBid.com Holdings,Inc. to develop and maintain relationships with strategic partners and suppliers and the timing of its establishment or extension of its relationships with strategic partners, the ability of uBid.com Holdings, Inc. to timely and successfully develop, maintain and protect its technology and product and service offerings and execute operationally, the ability of uBid.com Holdings, Inc. to attract and retain qualified personnel, the ability of uBid.com Holdings, Inc. to successfully integrate its acquisitions of other businesses, if any, and the performance of acquired businesses. uBid.com Holdings, Inc. expressly disclaims any intent or obligation to update these forward-looking statements, except as otherwise specifically stated by uBid.com Holdings, Inc.

Photo: http://www.newscom.com/cgi-bin/prnh/20060206/CGM036LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com uBid.com Holdings, Inc.

CONTACT: Ryan Calverley, Press Officer of uBid.com Holdings, Inc.,
+1-773-272-4414, ryanc@ubid.com

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

National Instruments Highlights Green Engineering, New Products and Future Technologies at NIWeek 2008

AUSTIN, Texas, Aug. 7, 2008 /PRNewswire-FirstCall/ -- NIWeek -- Executives from National Instruments discussed how NI products and technologies improve everyday life during the 14th annual NIWeek graphical system design conference and exhibition. Speaking to nearly 2,800 engineers and scientists, NI executives showcased customers' green engineering applications, demonstrated new products and future technologies that deliver increased performance and efficiency and highlighted initiatives that are preparing students for careers in science and technology.

Dr. James Truchard, NI president, CEO and co-founder, kicked off NIWeek 2008 by discussing how customers are using NI products to improve the environment in a variety of applications, from increasing the efficiency of diesel engines to creating renewable energy and reducing the downtime of industrial machines. Truchard explained that customers use NI LabVIEW graphical programming and hardware such as NI CompactRIO to identify and measure real-world problems as well as to design more efficient and environmentally friendly applications that solve those problems.

"National Instruments provides the tools to help engineers turn measurements into better designs," Truchard said. "Customers use LabVIEW and our hardware to solve the world's problems and create new ideas on how we can be more energy efficient and environmentally sensitive -- from windmills to steel mills."

Following Truchard, NI Senior Vice President of R&D Tim Dehne demonstrated performance improvements available through new NI products including LabVIEW 8.6, Wi-Fi and Ethernet data acquisition devices, the NI Single-Board RIO deployment platform and PXI Express-based 6.6 GHz RF instruments. These new products offer improved measurement capability to handle sophisticated test and measurement applications and a wider variety of deployment options for industrial and embedded applications. Dehne also highlighted customer applications that have benefitted from a graphical system design approach including a control system that decreases the electricity consumption of air conditioning systems and a fire suppression system for cargo planes.

NI Business and Technology Fellow Mike Santori opened the second day of NIWeek 2008 by outlining how LabVIEW has evolved into a graphical system design tool that gives engineers and scientists increasing capabilities to develop more advanced test, measurement, data acquisition and embedded design applications. Santori demonstrated LabVIEW features currently in development including optimized multicore capabilities for LabVIEW MathScript, configuration-based dynamic testing, a system diagram tool for higher-level abstraction and a wireless sensor network solution for creating custom measurements in environmental monitoring.

Jeff Kodosky, NI co-founder, business and technology fellow and "father of LabVIEW," closed the second day keynote by highlighting the challenge of machine architecture changes including multicore processors and field- programmable gate arrays (FPGAs). Kodosky pointed out that applications are becoming increasingly complex and require the acquisition, mining and analysis of large data amounts into the petabyte range. With the movement of industry trends toward highly parallel machines and ever larger distributed data sets, Kodosky stated that LabVIEW graphical dataflow programming makes the software ideal for these new advanced applications.

"When you use LabVIEW for your designs, you are future-proofed," Kodosky said. "Regardless of how computer architecture evolves, multicore to many-core or super-FPGAs to self-timed FPGAs, graphical dataflow programming has it covered."

Ray Almgren, vice president of academic relations, closed NIWeek 2008 by emphasizing the importance of getting students of all ages interested in science, technology, engineering and math. Almgren highlighted the NI collaborations with LEGO(R) Education on the LEGO WeDo(TM) educational robotics platform as well as with the FIRST (For Inspiration and Recognition of Science and Technology) Robotics Competition as examples of how industry and academia can work together to transform today's students into the innovative engineers of tomorrow.

Readers can view all the NIWeek 2008 keynote videos in their entirety at http://www.ni.com/niweek/keynote.

About National Instruments

National Instruments (http://www.ni.com/) is transforming the way engineers and scientists design, prototype and deploy systems for measurement, automation and embedded applications. NI empowers customers with off-the-shelf software such as NI LabVIEW and modular cost-effective hardware, and sells to a broad base of more than 25,000 different companies worldwide, with no one customer representing more than 3 percent of revenue and no one industry representing more than 10 percent of revenue. Headquartered in Austin, Texas, NI has more than 4,800 employees and direct operations in nearly 40 countries. For the past nine years, FORTUNE magazine has named NI one of the 100 best companies to work for in America. Readers can obtain investment information from the company's investor relations department by calling (512) 683-5090, e-mailing nati@ni.com or visiting http://www.ni.com/nati.

CompactRIO, LabVIEW, National Instruments, NI, ni.com and NIWeek are trademarks of National Instruments. Other product and company names listed are trademarks or trade names of their respective companies.

LEGO, WeDo and their respective logos are trademarks of the LEGO Group. (C) 2008 The LEGO Group.

Editor Contact: Julia Betts, (512) 683-8165

Photo: http://www.newscom.com/cgi-bin/prnh/20080723/LAW030LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com National Instruments

CONTACT: Editor Contact, Julia Betts of National Instruments,
+1-512-683-8165

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

FARO to Present at Noble Financial Equity Conference

LAKE MARY, Fla., Aug. 7 /PRNewswire-FirstCall/ -- FARO Technologies, Inc., the world leader in portable computer-aided measurement hardware and software, announced that President and CEO Jay Freeland and Senior Vice President and CFO Keith Bair will present at the Fourth Annual Noble Financial Equity Conference at 4:30 p.m. (PT) on Monday, August 18, 2008 at the Loews Lake Las Vegas Resort, Nevada.

The audio will be simultaneously web cast on http://www.faro.com/Noble-Q3-08 .

FARO recommends registering at least 15 minutes prior to the start of the presentation to ensure timely access.

For more information on FARO's global industries, applications and products, visit http://www.faro.com/ .

About FARO

With approximately 17,000 installations and 7,800 customers globally, FARO Technologies, Inc. designs, develops, and markets portable, computerized measurement devices and software used to create digital models -- or to perform evaluations against an existing model -- for anything requiring highly detailed 3-D measurements, including part and assembly inspection, factory planning and asset documentation, as well as specialized applications ranging from surveying, recreating accident sites and crime scenes to digitally preserving historical sites.

FARO's technology increases productivity by dramatically reducing the amount of on-site measuring time, and the various industry-specific software packages enable users to process and present their results quickly and more effectively.

Principal products include the world's best-selling portable measurement arm -- the FaroArm; the world's best-selling laser tracker -- the FARO Laser Tracker X and Xi; the FARO Laser ScanArm; FARO Photon Laser Scanners; the FARO Gage, Gage-PLUS and PowerGAGE; and the CAM2 Q family of advanced CAD-based measurement and reporting software. FARO Technologies is ISO-9001 certified and ISO-17025 laboratory registered.

FARO Technologies, Inc.

CONTACT: Darin Sahler, Global PR Manager of FARO Technologies, Inc.,
+1-407-333-9911, Darin.Sahler@faro.com

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

Most Home Corp. Closes on Purchasing the Operating Assets of TotalMove

SHELTON, Conn., Aug. 7 /PRNewswire-FirstCall/ -- Most Home Corp. (the "Company") (BULLETIN BOARD: MHME) today announced that further to its press release dated July 30, 2008, it has closed on the purchase of the operating assets of TotalMove, Inc. The business will continue to operate under the TotalMove name, in a wholly-owned subsidiary of Most Home Corp.

About Most Home Corp.

Most Home Corp., through its wholly owned subsidiaries, Most Home Real Estate Services Inc. and Netupdate Inc. provides leading real estate and mortgage organizations with online customer service solutions that enable more extensive and profitable business relationships between real estate and lending professionals and their clients. Since 2001, Most Home has processed more than 3,000,000 Web, LiveChat, and toll-free phone inquiries. The company works on behalf of its clients to identify more buyer and seller prospects, enhance the consumer experience with their brand, and maximize their online marketing investment. Most Home Corp. is remunerated for its services through software licensing fees, lead management fees and real estate referrals.

For more information, please visit http://www.mosthome.com/ For more Information: Ken Galpin, CEO Most Home Corp. 1 800 347 4701

Most Home Corp.

CONTACT: Ken Galpin, CEO of Most Home Corp., +1-800-347-4701

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

GeoEye to Webcast Second Quarter 2008 Earnings Conference Call- Scheduled for 11:00 a.m. EDT, Wednesday, Aug. 13, 2008 -

DULLES, Va., Aug. 7 /PRNewswire-FirstCall/ -- GeoEye will Webcast its quarterly conference call with investors on Wednesday, Aug. 13, 2008 beginning at 11:00 a.m. EDT. The call will include a review of the second quarter 2008 financial results and updates on the Company's operations.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080625/LAW528LOGO)

The conference call will be hosted by GeoEye's senior executives, including:

-- Mr. Matthew O'Connell, President and Chief Executive Officer -- Mr. Henry Dubois, Executive Vice President and Chief Financial Officer -- Mr. William (Bill) Schuster, Chief Operating Officer -- Mr. William Warren, Senior Vice President and General Counsel

The conference call will be Webcast on the "Investor Relations" section of the company's corporate Web site http://www.geoeye.com/. To directly access the live Webcast go to: http://www.geoeye.com/CorpSite/corporate/investor-relations/Default.aspx and click on the "Aug. 13, 2008 Investor Update Webcast" link. Please allow 15 minutes before the scheduled start time to register, download and install any necessary audio software. An archived Webcast of the call will be available at the same URL address approximately two hours after the conclusion of the call.

If you would like to participate in the call via phone, please dial (719) 325-4844 or domestic U.S.A. callers may dial toll-free at (877) 627-6580 five to 10 minutes prior to the start time. Questions will be accepted from phone participants during the live call after prepared remarks and as time permits.

About GeoEye

GeoEye is the premier provider of geospatial information for the national security community, strategic partners, resellers and commercial customers to help them better map, measure and monitor the world. The Company is recognized as the industry's trusted imagery expert for delivering reliable service and the exceptional quality of its imagery products and solutions. It operates a constellation of Earth imaging satellites, mapping aircraft and has an international network of ground stations, a robust imagery archive, and advanced imagery processing capabilities for developing innovative geospatial products and solutions. The Company also provides support to academic institutions and non-governmental organizations through the GeoEye Foundation. Headquartered in Dulles, Virginia, GeoEye is a public company listed on the Nasdaq stock exchange under the symbol GEOY. It maintains a comprehensive Quality Management System (QMS) and has achieved company-wide ISO accreditation. For more information, visit http://www.geoeye.com/.

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

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks and uncertainties. GeoEye's actual financial and operational results could differ materially from those anticipated. Additional information regarding these risk factors and uncertainties is described more fully in the Company's SEC filings. A copy of all SEC filings may be obtained from the SEC's EDGAR web site, http://www.sec.gov/, or by contacting: William L. Warren, Senior Vice President, General Counsel and Secretary, at 703-480-5672.

Photo: http://www.newscom.com/cgi-bin/prnh/20080625/LAW528LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com GeoEye

CONTACT: Mark Brender of GeoEye, +1-703-480-9562,
brender.mark@geoeye.com; or Amy Estes of LeGrand Hart, +1-303-298-8470, ext.
218, aestes@legrandhart.com, for GeoEye

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

EDS' Eight Tips for Consumers to Protect Themselves from Identity Theft

PLANO, Texas, Aug. 7 /PRNewswire-FirstCall/ -- Every four seconds, an identity is stolen in the U.S. Victims can spend years recovering from theft and attempting to clean up the mess it leaves behind, including lost job opportunities, refusal of loans for houses and cars and even jail time as a result of false data in law enforcement records. The recent news that the Justice Department will prosecute 11 hackers who gained access to more than 41 million credit and debit cards is proof positive that precautions need to be taken by consumers to protect their identity. At the same time, consumers and businesses alike want to utilize the convenience of electronic payments, online commerce and other technology-based exchanges.

To help you keep your identity in shape without overly restricting your daily transactions, EDS Security and Privacy experts have identified EDS' eight tips to help consumers protect themselves from identity theft while still being able to share relevant information with those who need it:

Never provide your personal information in response to an unsolicited request.

Be wary of calls or emails you receive from organizations which ask for personal information. Always ask or look for contact information on unsolicited requests to ensure the caller or sender is not a part of an identity theft ring. If you believe the content may be suspect, contact the company yourself to check on the request and the need for this data. Reputable companies will rarely ask you to divulge this information when they call you, and are always willing to verify their identity to you.

Review your account statements regularly to ensure that all transactions are in order.

Identity thieves typically use stolen information for only a short period of time to avoid being caught. By reviewing statements when they arrive, or utilizing your bank's online account options, you could detect a theft and limit its damage. If you suspect a security breach, act quickly by contacting the companies you do business with immediately. They want to help their customers have a positive experience, and will work to make sure the problem is resolved -- for you and for future consumers.

Check your credit report regularly.

It is good practice to check your credit report on a regular basis to ensure you are not a victim of identity theft. Consumers can now get a free copy of their credit report annually through one of the three major credit bureaus: Equifax, Experian and Trans Union. The Identity Theft Web site set up by the United States Federal Trade Commission (http://www.ftc.gov/bcp/edu/microsites/idtheft//) is also a great source of information about identity theft, including advice and guidance on the steps to take if your identity is stolen.

Beware of "phishing" e-mails.

Many legitimate companies are utilizing e-mail as a quick and convenient way to connect with their customers and quickly launch new products and services. It's a great vehicle for communication. Unfortunately, identity thieves are taking advantage of this virtual tool as a way to steal personal information and target intended victims. "Phishing" is one of the fastest-growing forms of online fraud for identity thieves. Phishing emails look increasingly similar to the sites they are trying to emulate, such as a banking institution or credit card company, and will often address you by name, making them even more convincing. It is important to be wary of e-mails you receive from organizations asking for personal information. Reputable businesses will never ask you to divulge personal information from an unsolicited request. Thieves sending these e-mails usually ask you to click on a link in the email that takes you to a phony Web site. Once on the phony site, your computer can be infected with spyware or a virus without you being aware of it.

If you are interested in further exploring the contents of such an email, it is best to go to the site yourself by typing the Web site name directly into your browser (rather than clicking on the link provided in the email) to ensure you are not being directed to a phony Web site. A slightly skeptical attitude toward unsolicited e-mails is always the best policy, especially if you've never done business with a company before receiving an e-mail solicitation from them.

Do not use personal information for passwords.

Passwords are one of the best ways to make sure that the right people are accessing the right information. They allow you to quickly and easily enter into your online banking account, exchange personal information and make electronic transactions. But using information such as Social Security Numbers, account numbers, birth dates, names, e-mail addresses or telephone numbers as passwords can make you an easy target. Be sure your passwords contain at least eight characters and include numbers or symbols. Do not write down passwords or PINs to avoid misuse.

Update anti-virus and firewall software on your PC and apply critical security patches to your PC's operating system on a regular basis.

If your anti-virus software does not have built-in spyware detection, invest in a spyware scanner as well as an anti-virus package. Run scans once a week and remove any unwanted viruses, adware or spyware that is detected. Also, check with the operating system vendor's Web site at least monthly and install any new critical system patches and updates. Many vendors now offer automatic updates to your software; this is usually a good idea. Taking these steps will reduce, and in most cases, eliminate the potential for your PC to be infected with new viruses and worms.

Take advantage of the fraud prevention services offered by your financial institutions.

Most financial service companies today offer a variety of services to help minimize the risk of identity theft, but still allow you to access your accounts and transaction history whenever and from wherever you need it. These services include simple email alerts regarding unusual or irregular activity such as transactions over a specified limit; downloadable tool bars designed to help identify scam websites; and the ability to establish temporary one-time account numbers for on-line purchases.

Review privacy and security policies of the companies you do business with.

All reputable companies post a privacy and security policy or statement on their Web site. This should tell you what information the company collects, how it is used and what is shared. If you are concerned about your information being shared with other companies, make sure there is an option to keep your information confidential. Review the Web pages carefully to see if you can opt out of having your information shared. If this option is not offered, consider whether you want to do business with this company.

About EDS

EDS is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 46 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at eds.com.

CONTACTS: Annabelle Baxter - EDS 972 605 0978 annabelle.baxter@eds.com

EDS

CONTACT: Annabelle Baxter of EDS, +1-972-605-0978,
annabelle.baxter@eds.com

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

Sikorsky Aerospace Services Launches Time-Saving Tool for H.S.I. Customers

TRUMBULL, Conn., Aug. 7 /PRNewswire/ -- Helicopter Support, Inc. (H.S.I.), a Sikorsky Aerospace Services company, announced today the launch of a new Internet tool that makes transacting business with H.S.I. easier, faster and more efficient. Sikorsky Aerospace Services is the aftermarket division of Sikorsky Aircraft Corp, a subsidiary of United Technologies Corp. .

(Logo: http://www.newscom.com/cgi-bin/prnh/20060403/SIKORSKYLOGO )

H.S.I. spent nine months designing, producing and testing the new Web portal in response to customer survey feedback. The site is accessible at http://www.hsius.com/ and allows customers to:

-- View and manage orders, quotes, claims, invoices and shipments -- Enter orders, quotes and claims directly through the Web site

-- View supporting documents such as manufacturers' certificates, original invoices, original purchase orders, etc.

-- Access H.S.I's performance metrics such as delivery to contract date -- Track any urgent or past due items

"From opening new facilities to opening new electronic ways to do business, our mission is to increase aircraft availability and drive down costs for our customers," said David Adler, President of Sikorsky Aerospace Services. "This tool contributes to that mission by enhancing our productivity and that of our customers."

H.S.I. President Samir Mehta added, "The portal was designed with speed and convenience in mind so that customers can get what they need quickly and easily. That translates into time and money saved."

H.S.I., based in Trumbull, Conn., provides a wide range of aerospace products and services. Sikorsky Aerospace Services designs and applies advanced logistics and supply chain solutions for commercial rotary, military rotary and fixed wing customers. Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacture and service. Sikorsky Aircraft's mission statement reflects the company's long commitment to safety and innovation: "We pioneer flight solutions that bring people home everywhere... every time(TM)." More information is available at the interactive http://www.sikorsky.com/ Web site.

United Technologies Corp., based in Hartford, Connecticut, provides a broad range of high technology products and support services to the aerospace and building systems industries.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060403/SIKORSKYLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Sikorsky Aerospace Services

CONTACT: Paul Jackson, +1-203-386-7143, Paul.Jackson@Sikorsky.com, or
Marianne Heffernan, +1-203-386-4373, mheffernan@Sikorsky.com, both of Sikorsky
Aerospace Services

Web site: http://www.sikorsky.com/
http://www.hsius.com/

Süddeutsche Zeitung opte pour le réseau de diffusion de contenu de Level 3 afin d'appuyer sa rapide croissance en ligne

LONDRES, August 7 /PRNewswire/ --

- Level 3 fournira des services de mémoire cache et de téléchargement aux portails de l'un des plus importants journaux nationaux d'Allemagne

European Markets Group de Level 3 Communications a annoncé aujourd'hui avoir été choisi afin de fournir des services de diffusion de contenu à Süddeutsche Zeitung, l'un des plus importants journaux nationaux d'Allemagne. Le réseau de diffusion de contenu (CDN) de Level 3 servira à diffuser toutes les vidéos et les photos destinées au portail Web du journal à l'adresse http://www.sueddeutsche.de.

Selon les termes de ce nouvel accord, Level 3 fournira des services de mémoire cache et de téléchargement afin de prendre en charge la demande croissante d'utilisation du site http://www.sueddeutsche.de. Dotés d'importantes capacités de diffusion de contenu et d'une technologie brevetée, ces services permettront au portail Web de proposer aux utilisateurs en ligne des fonctionnalités et une qualité de contenu améliorées.

Le portail Web représente le principal canal de distribution en ligne pour les journaux avec plus de 4,6 millions de pages visualisées chaque jour. Le portail comprend une grande variété d'articles d'actualités étayés par des vidéos et d'autres fonctions riches en contenu. Les services de mémoire cache et de téléchargement de Level 3 remplaceront la technologie exclusive développée précédemment par le journal. Ces services permettront une fourniture plus rapide du contenu à un public plus large et offriront aussi la possibilité de s'adapter rapidement en réponse à des soudaines périodes de pointe de la demande en ligne.

<< Nous assistons à une importante croissance de la demande de média enrichi sur notre site Web et nous avons besoin d'une infrastructure en place qui puisse fournir ce contenu d'une manière rentable et modulable >>, a déclaré Rainer Kerl, directeur technique de Süddeutsche Zeitung. << Nous sommes convaincus que la plateforme CDN de Level 3 répondra à nos besoins et nous sommes confiants dans le fait d'avoir atténué le risque associé à des charges de trafic importantes et inattendues, l'un des risques lorsqu'on évolue dans le secteur des informations. >>

Level 3 exploite l'un des réseaux les plus importants de diffusion de contenu dans le monde, permettant aux sites et aux portails Web et aux autres entreprises de fournir un contenu numérique de haute qualité sur Internet sans qu'il leur soit nécessaire d'investir dans une infrastructure essentielle, intensive et rapidement dépréciée d'hébergement Web. Les clients attendent aujourd'hui une expérience en ligne plus riche. La diffusion de contenu via des portails Web tels que http://www.sueddeutsche.de, qui utilise une plateforme CDN, propose à la fois la rentabilité aux propriétaires de contenu et une expérience exceptionnelle d'utilisateur final au client.

<< Süddeutsche Zeitung évolue dans un marché avide de contenu qui gère d'importants volumes d'informations et de contenu multimédia enrichi associé sur le portail, à tout moment >>, a déclaré James Heard, président d'European Markets Group de Level 3. << Le CDN de Level 3 apporte une technologie et une veille réseau avancées pour s'assurer que le contenu à l'adresse http://www.sueddeutsche.de réponde aux demandes de qualité, aux accroissements de trafic et d'échelle pour une croissance à long terme à la fois en termes de trafic et de volume de contenu. Nous sommes heureux de soutenir la croissance en ligne continue de l'un des plus importants journaux d'Allemagne. >>

À propos de Level 3 Communications

Level 3 Communications, Inc. (Nasdaq : LVLT) est un important prestataire international de services de communications à base de fibres optiques. Des clients d'entreprise, de contenu, de ventes en gros et gouvernementaux comptent sur Level 3 pour offrir des services se caractérisant par une combinaison d'extensibilité et de valeur sur les réseaux en fibres optiques de bout en bout à la pointe de l'industrie. Level 3 propose un portefeuille de services métropolitains et long-courriers, dont le transport, les données, Internet, la fourniture de contenu et la voix. Pour de plus amples informations, consultez le site http://www.Level3.com.

Level 3 Communications, Level 3, les parenthèses rouges en 3D et le logo de Level 3 Communications sont des marques de services déposées de Level 3 Communications, LLC et/ou de ses sociétés affiliées aux États-Unis et/ou dans d'autres pays. Les services de Level 3 sont fournis par des filiales en propriété exclusive de Level 3 Communications, Inc. Tout autre service, produit ou nom d'entreprise cités ci-dessus sont des marques commerciales ou des marques de services de leurs détenteurs respectifs.

Énoncés prospectifs

Certains des énoncés formulés dans ce communiqué de presse sont de nature prospective. Ces énoncés sont basés sur des attentes ou des convictions actuelles de la direction. Ces énoncés prospectifs ne représentent pas une garantie de rendement et sont sujets à de nombreuses incertitudes et autres facteurs dont beaucoup sont hors du contrôle de Level 3, ce qui pourrait être à l'origine d'une différence matérielle entre les événements réels et ceux exprimés ou impliqués par ces énoncés. Les facteurs les plus importants qui pourraient empêcher Level 3 d'atteindre les objectifs formulés comptent, mais sans s'y limiter, la capacité de l'entreprise à : réussir à intégrer des acquisitions, accroître le volume du trafic sur le réseau, défendre la propriété intellectuelle et les droits patrimoniaux, développer de nouveaux produits et des services répondant à la demande des clients et générant des marges acceptables, réussir des tests commerciaux d'une nouvelle technologie et de nouveaux systèmes d'information afin de gérer de nouveaux produits et services, attirer et fidéliser des dirigeants qualifiés ainsi que d'autres collaborateurs et nous conformer à toutes les conditions de nos créances. Des renseignements supplémentaires concernant ces facteurs, ainsi que d'autres, se trouvent dans les dossiers déposés par Level 3 auprès de la Securities and Exchange Commission. Les énoncés contenus dans ce communiqué de presse doivent être évalués en tenant compte de ces facteurs importants. Level 3 n'assume aucune obligation, et décline expressément toute obligation, de mettre à jour ou de modifier ces énoncés prospectifs, suite à de nouvelles informations, des événements futurs ou autres.

Site Web : http://www.level3.com http://www.sueddeutsche.de

Level 3 Communications

Médias, Hannah Britt, au +44-207-954-2128, ou Kimberly Tulp, au +1-720-888-3675, ou pour les investisseurs, Valerie Finberg, au +1-720-888-2501, ou Mark Stoutenberg, au +1-720-888-2518, tous de Level 3 Communications . Photo : NewsCom : http://www.newscom.com/cgi-bin/prnh/19990721/LVLTLOGO, AP Archive : http://photoarchive.ap.org, PRN Photo Desk, photodesk@prnewswire.com

General Dynamics Awarded NSA Contract to Add Switched Network Compatibility to the Sectera(R) vIPer(TM) Universal Secure Phone

SCOTTSDALE, Ariz., Aug. 7 /PRNewswire-FirstCall/ -- General Dynamics C4 Systems has been awarded a $2.8 million contract by the National Security Agency (NSA) to add a new Public Switched Telephone Network (PSTN) feature to the Sectera(R) vIPer(TM) Universal Secure Phone. The new feature, called "PSTN Connect," will enable the vIPer Phone to connect with traditional telephone networks, enabling users of secure desktop phones to use one secure phone on either PSTN or VoIP networks. The vIPer Phone currently operates on Internet Protocol (IP) networks.

"The idea behind PSTN Connect is to provide users with a flexibility they don't have today. For example, the vIPer Universal Secure Phone will appeal to those whose installations currently use the PSTN network, but who plan to migrate to voice over IP; users who currently have voice over IP networks; and others who plan to stay with traditional PSTN," said John Cole, vice president of Information Assurance for General Dynamics C4 Systems. "It's about protecting our customers' investments by providing a product that will accommodate evolving communications technologies."

Introduced in 2006, the Sectera vIPer Phone remains the only voice over IP phone certified by the NSA to protect information classified Top Secret and below over commercial networks. The vIPer Universal Secure Phone, with PSTN Connect, will be submitted for NSA certification testing in the third-quarter of 2008. The vIPer, with PSTN Connect, upon successfully completing certification testing, will provide secure phone users with a cost effective solution for replacing legacy secure phones, including the Secure Telephone Unit (STU-III).

General Dynamics C4 Systems, a business unit of General Dynamics , is a leading integrator of secure communication and information systems and technology. The company specializes in command and control, communications networking, space systems, computing and information assurance for defense, government and select commercial customers in the United States and abroad.

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

General Dynamics C4 Systems

CONTACT: Fran Jacques of General Dynamics C4 Systems, +1-480-441-2885,
or Cell, +1-480-586-1886, Fran.Jacques@gdc4s.com

Web site: http://www.generaldynamics.com/
http://www.gdc4s.com/

Jacobs Strengthens Presence in India Through a Strategic Alliance With Consulting Engineering Services (India) Private Limited

PASADENA, Calif., Aug. 7 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. and Consulting Engineering Services (India) Private Limited (CES) announced today that a subsidiary of Jacobs purchased a minority ownership position in CES.

Terms of the deal were not disclosed.

CES is a leading infrastructure and civil engineering company in India, headquartered in Delhi. It employs more than 2,000 people engaged in consulting, engineering, and construction supervision of projects in surface transport, seaports, airports, water management systems, environmental clean-up, buildings and facilities, and the power industry.

In making the announcement, President and CEO Craig Martin stated, "Our investment in CES adds to our 2,000-person-strong existing presence in India, complements our process industry strength there, and gives us access to resources to address the strong, emerging infrastructure market in India and in other regions in Asia and the Middle East. CES has an impressive track record of large-scale civil and infrastructure projects such as highways, bridges, ports, airports, railroads, power plants, architectural services, environmental clean-up, and water supply and sanitation facilities. CES is able to benefit from our complementary skills and global markets, and working with Jacobs creates the largest consulting engineering and construction force in India."

Chairman and Managing Director of CES Professor S.S. Chakraborty stated, "CES sees strong synergies with Jacobs in providing planning, engineering, and project management services for the rapidly growing infrastructure and related sectors in India and abroad. We are proud to have this strategic alliance, and look forward to rapid growth and enhanced impact for both companies. The combined operations of CES and Jacobs make for a formidable force in India and the surrounding region."

Jacobs, with over 55,000 employees and revenues exceeding $10.0 billion, provides technical, professional, and construction services globally.

Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2007 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.

For additional information contact: John W. Prosser, Jr. Executive Vice President, Finance and Administration 626.578.6803 (Logo: http://www.newscom.com/cgi-bin/prnh/20051021/LAJACOBSEGLOGO)

Photo: http://www.newscom.com/cgi-bin/prnh/20051021/LAJACOBSEGLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Jacobs Engineering Group Inc.

CONTACT: John W. Prosser, Jr., Executive Vice President, Finance and
Administration of Jacobs Engineering Group Inc., +1-626-578-6803

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

Origen Financial, Inc. Sells Loan Origination Platform to Group Led by ManageAmerica

SOUTHFIELD, Mich., Aug. 7 /PRNewswire/ -- Origen Financial L.L.C., a wholly owned subsidiary of Origen Financial, Inc. completed the sale of its underwriting and loan origination platform to Origen Financial Services L.L.C. (OFS) (unrelated to Origen Financial, Inc.), a group led by software services provider ManageAmerica. The new entity will maintain the Origen Southfield, Michigan offices and staffing and will continue to serve manufactured home community operators that fund loans on homes sold in their communities.

The OFS acquisition is intended to ensure uninterrupted service to community operators who have been clients of both ManageAmerica and Origen Financial, Inc. and will expand opportunities for other community operators seeking those complementary services. Celebrating the acquisition, ManageAmerica Managing Partner and OFS Chief Executive Officer Brooks London stated, "We are excited to acquire the premiere state-of-the-art chattel loan origination platform and we are equally excited to have thirty-five of the most qualified people in the business joining our team to continue an unparalleled commitment to our industry."

In over 40 states, ManageAmerica provides services specifically designed for manufactured home communities, including accounts receivable management, loan servicing, submetered utility billing, new and used home inventory tracking, and automated legal notices.

OFS services to manufactured home community operators will include loan underwriting, legally compliant loan documentation, lien perfection, homeowner insurance, forced placement insurance and impounding of insurance premiums and property taxes. OFS will also track loan performance data for community based lenders who may later offer their loan portfolios to secondary market buyers. "In today's marketplace," commented OFS President Michael Silverman, "conventional financing is unavailable for most buyers of manufactured homes, which make up a critical affordable housing element. OFS assists community operators who elect to fill that void by providing such financing."

Equity investors in the newly formed OFS include Barry McCabe, Chairman of the Manufactured Housing Institute (MHI) and retired president of Hometown America. "Origen's services to communities were too good to lose," said McCabe, "and pairing those services with the excellence of ManageAmerica is the perfect solution."

Origen Financial Services L.L.C.

CONTACT: Bonnie Bonfanti, Executive Vice-President of ManageAmerica,
1-800-616-3669, bbonfanti@manageamerica.com

Saratoga County, New York, Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Calling, Data Access and Music

ALBANY, N.Y., Aug. 7 /PRNewswire/ -- In a continuing effort to provide the best wireless service for local residents in Saratoga County, Verizon Wireless has expanded its network with a new cell site in Milton. The new site improves coverage and capacity in the Town of Milton, along New York State Route 67 between Finley Road and Middleline Road, and along Goode Road between Englehart Road and Randall Road.

This network expansion is part of the company's aggressive multi-billion dollar network investment each year to stay ahead of the growing demand for Verizon Wireless' voice and data services. The company has invested more than $45 billion since it was formed -- $5.5 billion on average every year -- to increase the coverage and capacity of its national network and to add new services.

Services include wireless data services such as picture messaging, text messaging, V CAST and V CAST Music with Rhapsody, ESPN MVP and BroadbandAccess, the company's high-speed wireless broadband network geared toward mobile professionals and business customers. It provides average download speeds of 600 kilobits per second (kbps) to 1.4 megabits per second, and average upload speeds of 500-800 kbps.

Strong demand for Verizon Wireless' services continued during the second quarter of 2008 as the company added 1.5 million net new customers. Verizon Wireless, the wireless company with the highest customer loyalty, reported the lowest customer turnover (highest customer loyalty) rate in the industry -- 1.1 percent in the second quarter -- for the 15th consecutive quarter.

The company's "nation's most reliable wireless network" reputation is based on network studies performed by real-life test men and test women throughout the country. These engineers drive 90 specially equipped vehicles almost 1 million miles annually on Interstate, U.S., and state highways, as well as major roads and surface streets. Test vehicles are equipped with computers that automatically make more than 3 million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.

Last year, Verizon Wireless introduced its 30-day Test Drive, an industry first that lets customers experience its network virtually risk-free for 30 days. If customers are not satisfied with their experience and take their number to another carrier, Verizon Wireless will refund their money for calls, equipment, activation fee and taxes. For more information about Verizon Wireless products and services, visit a Verizon Wireless Communications Store, call 1-800-2 JOIN IN or go to http://www.verizonwireless.com/.

About Verizon Wireless

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

Verizon Wireless

CONTACT: John O'Malley of Verizon Wireless, +1-585-321-7264, or
+1-585-261-5899, John.OMalley@verizonwireless.com; Meredith Dropkin,
+1-315-413-4293, mdropkin@mower.com

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

Onstream Media Awarded Three New Public Sector Contracts

POMPANO BEACH, Fla., Aug. 7 /PRNewswire-FirstCall/ -- Onstream Media Corporation , an online service provider of live and on-demand Internet video, today announced that it has been awarded three new multi-year public sector webcasting services contracts. Onstream Media's robust set of on-line digital media services, combined with Akamai Technologies Inc.'s globally-distributed network for delivering and accelerating content and applications, will support the United States Nuclear Regulatory Commission (NRC), California State Department of Technology Services (DTS), and California State Board of Equalization (BOE) for an allocated total of $1.5 million in contract awards. These projects are all intended to help make legislative discussion and materials more transparent to the public. Onstream Media is an Akamai reseller.

Government agencies today need a proven solution to provide video and audio broadcasts online and ensure that public hearings, training material and other specialized events and information are available to reach their constituents, industry partners and employees. Many government agencies do not have the resources and support tools and infrastructure to address this growing need. Onstream's relationship with Akamai enables the two organizations to address this critical need in the marketplace with solutions that are designed to ensure that customers in the public sector have access to these capabilities.

"Governmental use of webcasting services is becoming increasingly prevalent," said Randy Selman, President and Chief Executive Officer, Onstream Media Corporation. "We are excited to have been awarded multi-year contracts with these organizations to help them better serve their constituents. As a result of our long term and expanding relationship with Akamai, we have come to understand why Akamai is the premier content delivery provider in the market. Akamai focuses on many of the same leadership drivers we do, such as innovation, quality, reliability, scalability and a superior customer experience. When combined with our market leading Internet video services, our public sector customers will receive the highest quality Internet broadcasting service to support their public awareness initiatives."

Highlights for the Three Contract Awards:

-- United States Nuclear Regulatory Commission -- Webcasting services for up to five-option-year periods (following a six-event test period) for the Atomic Safety and Licensing Board Panel (ASLBP) to permit public viewing of its adjudicatory hearings via the Internet to increase confidence in the transparency and fairness of the regulatory process by ensuring that the public and other stakeholders can observe the adjudicatory hearing process regardless of the hearing location.

-- California State Board of Equalization -- A new, two year contract with Onstream Media to provide audio-video webcast services for the BOE's public board meetings. In addition to web-based broadcasting of Board Meetings, the BOE periodically presents various seminars, training classes, and other specialized events which the BOE may desire to broadcast in audio-video format over the web, whether as live streams or as archived audio-video broadcasts depending on the particular event.

-- California State Department of Technology Services -- An 18 month contract to provide live and archived webcasting services for the agency's Technology Services Board (TSB) meetings. These services are intended to make the TSB's discussions and materials on all matters during public meetings compliant with the State's open meeting laws.

Onstream will begin working on all three projects this year. With these wins, Onstream is now providing webcasting services to twelve federal government agencies, and seven state agencies. In addition, 15 municipalities and federal agencies are subscribers to Onstream Media's Digital Media Services Platform. Onstream Media is also a stakeholder in the federal government's Networx Universal contract as part of the Qwest International team.

The Akamai Difference

Akamai(R) provides market-leading managed services for powering rich media, dynamic transactions, and enterprise applications online. Having pioneered the content delivery market one decade ago, Akamai's services have been adopted by the world's most recognized brands across diverse industries. The alternative to centralized Web infrastructure, Akamai's global network of tens of thousands of distributed servers provides the scale, reliability, insight and performance for businesses to succeed online. An S&P 500 and NASDAQ 100 company, Akamai has transformed the Internet into a more viable place to inform, entertain, interact, and collaborate. To experience The Akamai Difference, visit http://www.akamai.com/.

About Onstream Media

Onstream Media Corporation is an online service provider of live and on-demand internet video, corporate web communications and content management applications. Onstream Media's pioneering Digital Media Services Platform (DMSP) provides customers with cost effective tools for encoding, managing, indexing, and publishing content via the Internet. The DMSP provides our clients with intelligent delivery and syndication of video advertising, and supports pay-per-view for online video and other rich media assets. The DMSP also provides an efficient workflow for transcoding and publishing user-generated content in combination with social networks and online video classifieds, utilizing Onstream Media's Auction Video(TM) (patent pending) technology. In addition, Onstream Media provides live and on-demand webcasting, webinars, web and audio conferencing services. In fact, almost half of the Fortune 1000 companies and 78% of the Fortune 100 CEOs and CFOs have used Onstream Media's services.

Select Onstream Media customers include: AAA, AXA Equitable Life Insurance Company, Bonnier Corporation, BT Conferencing, Dell, Deutsche Bank, Disney, National Press Club, NHL, MGM, PR Newswire, Televisa, Shareholder.com (NASDAQ), and the U.S. Government. Onstream Media's strategic relationships include Akamai, Adobe, eBay, FiveAcross/Cisco and Qwest. For more information, visit Onstream Media at http://www.onstreammedia.com/ or call 954-917-6655.

About United States Nuclear Regulatory Commission

The U.S. Nuclear Regulatory Commission (NRC) was created as an independent agency by Congress in 1974 to enable the nation to safely use radioactive materials for beneficial civilian purposes while ensuring that people and the environment are protected. The NRC regulates commercial nuclear power plants and other uses of nuclear materials, such as in nuclear medicine, through licensing, inspection and enforcement of its requirements.

About the California Department of Technology Services

The Department of Technology Services (DTS), part of the State and Consumer Services Agency, provides information technology services to many state, county, federal and local government entities throughout the State of California. Through the use of a scalable, reliable, and secure statewide network, combined with expertise in voice and data technologies, DTS delivers comprehensive, cost-effective computing, networking, electronic messaging, and training solutions to benefit the people of California.

About California State Board of Equalization

The Board of Equalization collects California state sales and use tax, as well as fuel, alcohol, and tobacco taxes and fees that provide revenue for state government and essential funding for counties, cities, and special districts.

Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward-looking statements include, but are not limited to fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation's filings with the Securities and Exchange Commission.

Media Relations: Investor Relations: Chris Faust Brett Maas FastLane Communications Hayden Communications 973.226.4379 646-536-7331 cfaust@fast-lane.net brett@haydenir.com

Onstream Media Corporation

CONTACT: Media Relations: Chris Faust of FastLane Communications,
+1-973-226-4379, cfaust@fast-lane.net; or Investor Relations: Brett Maas of
Hayden Communications, +1-646-536-7331, brett@haydenir.com, both for Onstream
Media Corporation

Web site: http://www.onstreammedia.com/
http://www.akamai.com/

Southwest Airlines Holds Online Casting Call for Ultimate Blog-o-spondentAre you Nutty Enough to be Southwest's Next Blog Star?

DALLAS, Aug. 7 /PRNewswire-FirstCall/ -- America holds auditions for hot new models, undiscovered singers, and dancers who want to make it big. Now, Southwest Airlines is hosting its very own competition to find the next Blog-o-spondent for the Company's blog, Nuts About Southwest.

Over the past six months, Southwest Airlines Employee Christi Day has served as the Company's primary Blog-o-spondent, traveling to Southwest cities across the country and filming short segments for the Company's blog, including features on various Southwest Operations and Employees. Now Christi is ready to share the spotlight and allow one lucky Customer to become the next Nuts About Southwest Blog-o-spondent.

Beginning Aug. 5, Customers can submit a one-minute audition video on the official contest site (http://southwest.spigit.com/homepage). Between Aug. 5-31, fellow Customers will be able to view all video submissions and vote for their favorites. The three contestants with the most votes on Sept. 1 will be invited to join current Blog-o-spondent Christi Day and the Southwest Blog Team at this year's BlogWorld Expo in Las Vegas on Sept. 20-21 to compete in a final competition round. On the morning of Saturday, Sept. 20, the three finalists will meet at the Las Vegas Convention Center, where they will receive a video assignment (to be revealed that morning) that will serve as their final challenge. Each contestant's final video submission will be posted on the contest site on Sept. 21, where Customers will have another opportunity to vote for their favorite and help select the official Nuts About Southwest Blog-o-spondent. The final video submissions will be showcased at the BlogWorld Expo on the afternoon of Sept. 21, where they will be judged by current Blog-o-spondent Christi Day and a panel of Southwest Airlines Judges. The winner will be revealed immediately following the judging ceremony.

Over the next year, the Blog-o-spondent will travel to select Southwest cities to produce a minimum of four video segments for Southwest's Blog Nuts About Southwest. The winner will be provided with air transportation and hotel accommodations for each assignment and will be outfitted with a new video camera, laptop, and editing software to complete the job.

Audition videos may be submitted Aug. 5-31, at http://southwest.spigit.com/homepage. The three finalists will be notified on or close to Sept. 1. Contestants must be 18 or older to participate and meet the following criteria:

-- Ability to capture, edit, and post their own footage in an accepted format in a timely manner -- FUN on- and off-camera personality that reflects Southwest's unique Culture -- Ability to clearly communicate Southwest messages -- Ability to commit to time and travel required for each assignment -- Follow all official contest rules and guidelines. Rules and guidelines may be found below and at http://www.blogsouthwest.com/. Southwest Airlines

Still a maverick after 37 years, Southwest Airlines was the first airline to offer its Customers a venue for open dialogue through a blog, Nuts About Southwest, with nearly 30 Employee bloggers who represent a mix of frontline and behind-the-scenes Employees, including Pilots, Flight Attendants, Schedule Planners, Customer Service Agents, Executives, Administrative Assistants, Marketing Representatives, etc. Since its launch in April 2006, Nuts has experienced tremendous success -- building relationships with Customers, serving as a virtual focus group, and influencing several business decisions. In 2007, Nuts was named Best Blog by PR News and has been recognized in major publications ranging from Wired Magazine to The Wall Street Journal.

BlogWorld & New Media Expo

BlogWorld & New Media Expo is the first and only industry-wide tradeshow, conference and media event dedicated to promoting the dynamic industry of blogging and new media. BlogWorld features dozens of seminars, panel discussions and keynotes from iconic personalities on the leading-edge of online technology and Internet-savvy business. Designed to give participants the strategies, tools and technologies they need to stake their claim in the blogosphere, BlogWorld takes place at the Las Vegas Convention Center, Sept. 20-21. More information on BlogWorld & New Media Expo can be found at http://www.blogworldexpo.com/.

Spigit

Spigit develops enterprise community software to drive innovation and empower decision makers. Spigit's core products, InnovationSpigit and IdeaSpigit, are used by Fortune 500 companies to power both internal and external innovation and idea management initiatives. Spigit has received recognition and numerous awards, including the AlwaysOn Global 250, Best of Interop 2008 and the 2008 Gartner Cool Vendor in the High Performance Workplace. (http://www.spigit.com/)

Official Contest Rules

Visit http://southwest.spigit.com/homepage during the Contest Period and submit an Official Entry form including your complete name, address including zip code, telephone number, your primary e-mail address and answers to other questions on the Official Entry form, and upload a video application not to exceed sixty (60) seconds in length to YouTube.com and then submit the embed code on the Spigit site (collectively "Online Entry"). Online Entry must include the entrant's explanation of why he/she is the perfect candidate for the position of Southwest Airlines "Blog-o-spondent."

No previously published video clips may be submitted nor will such a submission qualify as an Online Entry. All Online Entries become the sole property of the Sponsor and will not be acknowledged or returned. No correspondence will be entered into, acknowledged or returned. Sponsor reserves the right to edit, publish and use any Online Entry without further permission, consideration, or payment to the entrant. By submitting an Online Entry, entrant warrants and represents that Online Entry is 100% original creation/work by entrant and that use of the Online Entry as described herein will not violate any law or infringe upon the rights of any third party. All Online Entries must be received by 11:59:59 PM ET on August 31, 2008. Limit one Online Entry per person. Duplicate Online Entries received will be void. In the event the same video clip is submitted by more than one entrant, the first Online Entry received will be accepted and all additional duplicate Online Entries will be deemed void.

Use of automated devices is not valid for entry. Online Entries must include a valid e-mail address for the entrant. Southwest Airlines and their respective officers, directors, agents, employees, and assigns (collectively, the "Released Parties") are not responsible for any problems or technical, hardware, or software malfunctions of any telephone network or telephone lines, failed, incorrect, inaccurate, incomplete, garbled or delayed electronic communications whether caused by the sender or by any of the equipment or programming associated with or utilized in this Contest, computer online systems, servers or providers, computer equipment, software, failure of any e-mail or entry to be received by the Sponsor due to technical problems, human error or traffic congestion, unavailable network connections on the Internet or at any web site, or any combination thereof, including, without limitation, any injury or damage to entrant's or any other person's computer relating to or resulting from participating in this Contest or downloading any materials in this Contest.

"Top 10" Judging Criteria: Top 10 entries with the most "spigs" on the online voting site will be required to participate in a telephone interview with a representative of Southwest Airlines between September 2, 2008 and September 8, 2008, and consent to a criminal background check. In the event a Finalist is not available for the telephone interview on the date and time designated by Southwest Airlines, the Finalist may be disqualified. Based on these interviews, compliance with applicable Southwest Airlines appearance guidelines and the results of the criminal background checks, a total of three (3) "Top 3" Finalists will be selected from among all "Top 10" Finalists. The selection of the "Top 3" Finalists will be made by Southwest Airlines whose decisions are final and binding in all respects relating to the selection of all "Top 3" Finalists. All "Top 3" Finalists will be required to sign and return an Affidavit of Eligibility, Liability and Publicity Release. Non-compliance will result in disqualification of such "Top 3" Finalist and the next highest scoring "Top 10" Finalist may become a "Top 3" Finalist.

Online Voting:

Finalist Prize Judging Criteria: The "Top 3" Finalists will be invited to a call-back round in Las Vegas. Southwest Airlines will fly each contestant to Las Vegas on Friday, September 19, 2008, with all travel and lodging expenses paid. Finalists will be given their final video assignment. On Sunday, September 21, 2008, the "Top 3" Finalists will post their "call-back" video on the Spigit voting site for the final vote. The final video submissions will also be showcased at the BlogWorld Expo on the afternoon of Sept. 21, where they will be judged by a panel of Southwest Airlines Judges. The winner will be revealed immediately following the judging ceremony.

Public vote will weigh 30% Southwest Airlines Judges vote will weigh 70%

The final video submission will be judged by the Southwest Airlines judging panel on the following criteria:

-- Originality: 30 pts. -- Humor: 30 pts. -- Southwest Airlines Brand Message: 20 pts. -- Resourcefulness: 10 pts. -- Completion of assignment: 10 pts. -- Between 3-5 minutes -- Turned in on time Total: 100 pts.

A "Top 3" Finalist Prize Winner may decline and thereby waive his/her right to receive a Finalist Prize. In order to claim a Finalist Prize, Finalist Prize Winners must be willing to submit to a criminal background check (to be administered by Southwest Airlines) and will be required to complete an Affidavit or Declaration of Eligibility and/or a Release and Waiver and Authorization To Reproduce Likeness (collectively, the "Documentation"). The Documentation must be returned within ten (10) business days of receipt of notification containing such Documentation. A potential Finalist Prize Winner's failure to sign and return the Documentation within ten (10) business days, or to provide a satisfactory criminal background check or to comply with any term or condition of these Rules may, at the sole discretion of Sponsor, result in disqualification, forfeiture of his or her interest in the Finalist Prize, and the next highest scoring "Top 3" Finalist will become a Finalist Prize Winner. Except where prohibited by law, a Finalist Prize Winner's acceptance of a Finalist Prize constitutes permission to use his/her name, voice/testimonial, hometown, Online Entry and/or likeness/photograph for promotional, advertising and/or publicity purposes in any media, now or hereafter known throughout the world in perpetuity, without further notice or compensation.

"Top 3" Finalist Prizes and their Approximate Retail Values ("ARV"): -- A trip for the "Top 3" Finalist Prize Winner to Las Vegas, NV from Sept. 19-22, 2008, consisting of round-trip air transportation for two (2) persons from the nearest airport that Southwest Airlines serves with regularly scheduled flights and one (1) hotel room per finalist for a maximum of three (3) nights. -- "Top 3" Finalists will be given a daily per diem of $50 to be used on food, transportation, and miscellaneous expenses. -- "Top 3" Finalists will stay 3 nights (Friday, Saturday, Sunday: Sept. 19-22) at a Las Vegas hotel.

Finalist Prize Winners must travel on dates designated by Southwest Airlines. In the event a Finalist Prize Winner cannot travel on dates designated by Southwest Airlines that Finalist Prize Winner will be disqualified and the Finalist Prize will be awarded to the next highest scoring "Top 10" Finalist, provided sufficient time remains prior to the designated Finalist Prize trip dates. If a Finalist Prize Winner resides within 50 miles of Las Vegas, air and ground transportation will not be provided. Any difference between actual retail value of Finalist Prize will not be awarded. All travel is subject to any and all restrictions instituted by the Department of Defense and/or Department of Homeland Security at the time of travel. "Top 3" Finalist Prize Winners will be solely responsible for obtaining any and all required travel documents prior to travel and the associated costs for these requirements. The Released Parties maintain no control over the personnel, equipment, or operation of any air carrier or ground transportation carrier as a part of the prize provided under this Contest and shall not be liable for any injury, damage, loss, expense, accident, delay, inconvenience, or other irregularity that may be caused. No substitution, refund, cash redemption, assignment or transfer of Finalist Prize permitted. Finalist Prize Winners must supply Southwest Airlines with their social security numbers for tax purposes. Finalist Prize Winners are solely responsible for all federal, state and local taxes on Finalist Prize. Once travel arrangements have been made, changes to itinerary cannot be made by a Finalist Prize Winner or Guest. All Finalist Prize Winners must submit to a background check to Southwest Airlines. "Top 3" Finalist Prize Winners may be disqualified from the Contest based on their failure to submit to a fingerprint criminal background check or based on the results of the background check.

Grand Prize Voting Period: Individuals who go to http://southwest.spigit.com/homepage between 12:00 a.m. ET and 3:29:59 PM ET on September 21, 2008, ("Grand Prize Voting Period") will be asked to view the three (3) Grand Prize Video Applications and vote for their favorite. The Finalist Prize Winner who receives the highest number of votes during the Grand Prize Voting Period will be deemed the Grand Prize Winner.

"Ultimate Blog-o-spondent": The Grand Prize Winner will be announced at the BlogWorld Expo in Las Vegas on September 21 and will be offered the job of "Ultimate Blog-o-spondent;" a contract Employee of Southwest Airlines expected to create original videos about four (4) specific cities that Southwest Airlines serves. Southwest Airlines will provide travel, accommodations, and miscellaneous expenses on all trips to capture videos about these four cities. Southwest Airlines will also provide an assistant for four video shoots. Official relationship will commence on or about October 1, 2008 and terminate on October 1, 2009, (the "Employment Period"). The Grand Prize Winner's partnership is contingent upon: (1) Grand Prize Winner's completion of the requisite employment paperwork including, but not limited to, an ideas form, a confidentiality agreement and a job application; and (2) Grand Prize Winner's compliance with the "Southwest Airlines Look". Southwest Airlines reserves the right, in its sole discretion, to not hire the Grand Prize Winner for any reason. The Grand Prize Winner must also successfully complete certain training including, without limitation, Media Training and traditions. The Grand Prize Winner's sole obligation as "Blog-o-spondent" will be to travel to those assignments (determined by Southwest Airlines in its sole discretion) four (4) times during the Employment Period. The Grand Prize Winner must be available to travel when needed by Southwest Airlines. Each time the Grand Prize Winner travels at the request of Southwest Airlines during the Employment Period, Southwest will provide the following to the Grand Prize Winner: (a) round-trip air transportation from the nearest Southwest Airlines city, (B) transportation between the Arrival Airport and the location of Grand Prize Winner's assignment (c) hotel accommodations (depending on availability, one standard room, quad occupancy) at a hotel designated by Southwest Airlines, (D) a spending allowance in an amount to be determined by Southwest Airlines in its sole discretion. If the Grand Prize Winner resides within 50 miles of the destination, air transportation will not be provided. The Grand Prize Winner will receive no other compensation from Southwest Airlines for his/her services as the Blog-o-spondent. The Grand Prize Winner is solely responsible for any and all ground transfers between winner's residence and airport of departure, gratuities, travel upgrades, personal incidentals, all airport and government issued taxes, and any other expenses not specified herein. All travel is subject to any and all restrictions instituted by the Department of Defense and/or Department of Homeland Security at the time of travel. Grand Prize Winner will be solely responsible for obtaining any and all required travel documents prior to travel and the associated costs for these requirements. The Released Parties maintain no control over the personnel, equipment, or operation of any air carrier or ground transportation carrier and shall not be liable for any injury, damage, loss, expense, accident, delay, inconvenience, or other irregularity that may be caused. No substitution, refund, cash redemption, assignment or transfer of any of the foregoing compensation permitted. Grand Prize Winner is solely responsible for all federal, state and local taxes. These Rules do not constitute a partnership agreement. Specifically, Grand Prize Winner is an at-will partnership and his/her relationship with Southwest Airlines may be terminated at any time.

Participation: Participation in the Contest constitutes an agreement by each entrant to comply with these Rules. These Rules will be posted at http://southwest.spigit.com/homepage between August 1, 2008 and October 1, 2008. Sponsor reserves the right to, in its sole discretion, cancel, modify or suspend the Contest should any computer virus, bugs or other technical difficulty or other causes beyond the control of the Sponsor or Released Parties corrupt the administration, security or proper play of the Contest.

Limitations of Liability: By entering the Contest, you agree that (1) any and all disputes, claims, and causes of action arising out of or in connection with the Contest, or any prize awarded, shall be resolved individually without resort to any form of class action; (2) any claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering the Contest, but in no event attorney's fees; and (3) under no circumstances will you be permitted to obtain any award for, and you hereby waive all rights to claim, punitive, incidental or consequential damages and any and all rights to have damages multiplied or otherwise increased and any other damages, other than damages for actual out-of-pocket expenses.

General Release: By entering the Contest, you release and discharge Southwest Airlines and Released Parties from any liability whatsoever in connection with the Contest or with the acceptance, possession, use or misuse of any prize including, without limitation, legal claims, costs, injuries, losses or damages, demands or actions of any kind (including, without limitation: personal injuries; death; damage to, loss or destruction of property; rights of publicity or privacy; and defamation or portrayal in a false light). Southwest Airlines will not be responsible for typographical, printing or other inadvertent errors in these Rules or in other materials relating to the "Ultimate Blog-o-spondent" casting call.

Official Rules/Winners List: To obtain a copy of these Rules, print them from the Internet at http://southwest.spigit.com/homepage. If you have any questions regarding this Contest or would like to obtain the names of the Finalist Prize Winners and/or Grand Prize Winner (available after January 31, 2009, send a self-addressed, stamped envelope to: Southwest Airlines, Emerging Media, 2702 Love Field Drive, HDQ-1PR, Dallas, TX 75235.

http://www.southwest.com/

Photo: http://www.newscom.com/cgi-bin/prnh/20040715/DATH028-a
http://www.newscom.com/cgi-bin/prnh/20010718/SWNULOOK
http://www.newscom.com/cgi-bin/prnh/20010724/SWALOGO
PRN Photo Desk, photodesk@prnewswire.com Southwest Airlines

CONTACT: Southwest Airlines Public Relations, +1-214-792-4847

Web site: http://www.southwest.com/
http://www.blogworldexpo.com/
http://www.spigit.com/

Volcano Presentation at Canaccord Adams Conference to be Webcast

SAN DIEGO, Aug. 7 /PRNewswire-FirstCall/ -- Volcano Corporation , a provider of intravascular ultrasound (IVUS), functional measurement (FM) and Optical Coherence Tomography (OCT) products designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease, said today that it will be participating in the Canaccord Adams Annual Global Growth Conference on Tuesday, August 12.

The presentation by Scott Huennekens, president and chief executive officer, will begin at 8 a.m., Eastern Daylight Time (5 a.m., Pacific Daylight Time).

The presentation will be available through the conference website at http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=VOLC&item_id=1887632, or via the company's website at http://www.volcanocorp.com/.

Volcano Corporation offers a broad suite of devices designed to facilitate endovascular procedures, enhance the diagnosis of vascular and structural heart disease and guide optimal therapies. The company's intravascular ultrasound (IVUS) product line includes ultrasound consoles that can be integrated directly into virtually any modern cath lab. Volcano IVUS offers unique features, including both single-use phased array and rotational IVUS imaging catheters, and advanced functionality options, such as VH(TM) tissue characterization and ChromaFlo(R). Volcano also provides functional measurement (FM) consoles and single-use pressure and flow guide wires and is developing a line of ultra-high resolution Optical Coherence Tomography (OCT) systems and catheters. Currently, more than 3,500 Volcano IVUS and FM systems are installed worldwide, with approximately half of its revenues coming from outside the United States. For more information, visit the company's website at http://www.volcanocorp.com/

Volcano Corporation

CONTACT: John Dahldorf, Chief Financial Officer of Volcano Corporation,
+1-916-638-8008; or Neal B. Rosen of Ruder-Finn, +1-415-692-3058, for Volcano
Corporation

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

Southwest Airlines Holds Online Casting Call for Ultimate Blog-o-spondentAre you Nutty Enough to be Southwest's Next Blog Star?

DALLAS, Aug. 7 /PRNewswire-FirstCall/ -- America holds auditions for hot new models, undiscovered singers, and dancers who want to make it big. Now, Southwest Airlines is hosting its very own competition to find the next Blog-o-spondent for the Company's blog, Nuts About Southwest.

Over the past six months, Southwest Airlines Employee Christi Day has served as the Company's primary Blog-o-spondent, traveling to Southwest cities across the country and filming short segments for the Company's blog, including features on various Southwest Operations and Employees. Now Christi is ready to share the spotlight and allow one lucky Customer to become the next Nuts About Southwest Blog-o-spondent.

Beginning Aug. 5, Customers can submit a one-minute audition video on the official contest site (http://southwest.spigit.com/homepage). Between Aug. 5-31, fellow Customers will be able to view all video submissions and vote for their favorites. The three contestants with the most votes on Sept. 1 will be invited to join current Blog-o-spondent Christi Day and the Southwest Blog Team at this year's BlogWorld Expo in Las Vegas on Sept. 20-21 to compete in a final competition round. On the morning of Saturday, Sept. 20, the three finalists will meet at the Las Vegas Convention Center, where they will receive a video assignment (to be revealed that morning) that will serve as their final challenge. Each contestant's final video submission will be posted on the contest site on Sept. 21, where Customers will have another opportunity to vote for their favorite and help select the official Nuts About Southwest Blog-o-spondent. The final video submissions will be showcased at the BlogWorld Expo on the afternoon of Sept. 21, where they will be judged by current Blog-o-spondent Christi Day and a panel of Southwest Airlines Judges. The winner will be revealed immediately following the judging ceremony.

Over the next year, the Blog-o-spondent will travel to select Southwest cities to produce a minimum of four video segments for Southwest's Blog Nuts About Southwest. The winner will be provided with air transportation and hotel accommodations for each assignment and will be outfitted with a new video camera, laptop, and editing software to complete the job.

Audition videos may be submitted Aug. 5-31, at http://southwest.spigit.com/homepage. The three finalists will be notified on or close to Sept. 1. Contestants must be 18 or older to participate and meet the following criteria:

-- Ability to capture, edit, and post their own footage in an accepted format in a timely manner -- FUN on- and off-camera personality that reflects Southwest's unique Culture -- Ability to clearly communicate Southwest messages -- Ability to commit to time and travel required for each assignment -- Follow all official contest rules and guidelines. Rules and guidelines may be found below and at http://www.blogsouthwest.com/. Southwest Airlines

Still a maverick after 37 years, Southwest Airlines was the first airline to offer its Customers a venue for open dialogue through a blog, Nuts About Southwest, with nearly 30 Employee bloggers who represent a mix of frontline and behind-the-scenes Employees, including Pilots, Flight Attendants, Schedule Planners, Customer Service Agents, Executives, Administrative Assistants, Marketing Representatives, etc. Since its launch in April 2006, Nuts has experienced tremendous success -- building relationships with Customers, serving as a virtual focus group, and influencing several business decisions. In 2007, Nuts was named Best Blog by PR News and has been recognized in major publications ranging from Wired Magazine to The Wall Street Journal.

BlogWorld & New Media Expo

BlogWorld & New Media Expo is the first and only industry-wide tradeshow, conference and media event dedicated to promoting the dynamic industry of blogging and new media. BlogWorld features dozens of seminars, panel discussions and keynotes from iconic personalities on the leading-edge of online technology and Internet-savvy business. Designed to give participants the strategies, tools and technologies they need to stake their claim in the blogosphere, BlogWorld takes place at the Las Vegas Convention Center, Sept. 20-21. More information on BlogWorld & New Media Expo can be found at http://www.blogworldexpo.com/.

Spigit

Spigit develops enterprise community software to drive innovation and empower decision makers. Spigit's core products, InnovationSpigit and IdeaSpigit, are used by Fortune 500 companies to power both internal and external innovation and idea management initiatives. Spigit has received recognition and numerous awards, including the AlwaysOn Global 250, Best of Interop 2008 and the 2008 Gartner Cool Vendor in the High Performance Workplace. (http://www.spigit.com/)

Official Contest Rules

Visit http://southwest.spigit.com/homepage during the Contest Period and submit an Official Entry form including your complete name, address including zip code, telephone number, your primary e-mail address and answers to other questions on the Official Entry form, and upload a video application not to exceed sixty (60) seconds in length to YouTube.com and then submit the embed code on the Spigit site (collectively "Online Entry"). Online Entry must include the entrant's explanation of why he/she is the perfect candidate for the position of Southwest Airlines "Blog-o-spondent."

No previously published video clips may be submitted nor will such a submission qualify as an Online Entry. All Online Entries become the sole property of the Sponsor and will not be acknowledged or returned. No correspondence will be entered into, acknowledged or returned. Sponsor reserves the right to edit, publish and use any Online Entry without further permission, consideration, or payment to the entrant. By submitting an Online Entry, entrant warrants and represents that Online Entry is 100% original creation/work by entrant and that use of the Online Entry as described herein will not violate any law or infringe upon the rights of any third party. All Online Entries must be received by 11:59:59 PM ET on August 31, 2008. Limit one Online Entry per person. Duplicate Online Entries received will be void. In the event the same video clip is submitted by more than one entrant, the first Online Entry received will be accepted and all additional duplicate Online Entries will be deemed void.

Use of automated devices is not valid for entry. Online Entries must include a valid e-mail address for the entrant. Southwest Airlines and their respective officers, directors, agents, employees, and assigns (collectively, the "Released Parties") are not responsible for any problems or technical, hardware, or software malfunctions of any telephone network or telephone lines, failed, incorrect, inaccurate, incomplete, garbled or delayed electronic communications whether caused by the sender or by any of the equipment or programming associated with or utilized in this Contest, computer online systems, servers or providers, computer equipment, software, failure of any e-mail or entry to be received by the Sponsor due to technical problems, human error or traffic congestion, unavailable network connections on the Internet or at any web site, or any combination thereof, including, without limitation, any injury or damage to entrant's or any other person's computer relating to or resulting from participating in this Contest or downloading any materials in this Contest.

"Top 10" Judging Criteria: Top 10 entries with the most "spigs" on the online voting site will be required to participate in a telephone interview with a representative of Southwest Airlines between September 2, 2008 and September 8, 2008, and consent to a criminal background check. In the event a Finalist is not available for the telephone interview on the date and time designated by Southwest Airlines, the Finalist may be disqualified. Based on these interviews, compliance with applicable Southwest Airlines appearance guidelines and the results of the criminal background checks, a total of three (3) "Top 3" Finalists will be selected from among all "Top 10" Finalists. The selection of the "Top 3" Finalists will be made by Southwest Airlines whose decisions are final and binding in all respects relating to the selection of all "Top 3" Finalists. All "Top 3" Finalists will be required to sign and return an Affidavit of Eligibility, Liability and Publicity Release. Non-compliance will result in disqualification of such "Top 3" Finalist and the next highest scoring "Top 10" Finalist may become a "Top 3" Finalist.

Online Voting:

Finalist Prize Judging Criteria: The "Top 3" Finalists will be invited to a call-back round in Las Vegas. Southwest Airlines will fly each contestant to Las Vegas on Friday, September 19, 2008, with all travel and lodging expenses paid. Finalists will be given their final video assignment. On Sunday, September 21, 2008, the "Top 3" Finalists will post their "call-back" video on the Spigit voting site for the final vote. The final video submissions will also be showcased at the BlogWorld Expo on the afternoon of Sept. 21, where they will be judged by a panel of Southwest Airlines Judges. The winner will be revealed immediately following the judging ceremony.

Public vote will weigh 30% Southwest Airlines Judges vote will weigh 70%

The final video submission will be judged by the Southwest Airlines judging panel on the following criteria:

-- Originality: 30 pts. -- Humor: 30 pts. -- Southwest Airlines Brand Message: 20 pts. -- Resourcefulness: 10 pts. -- Completion of assignment: 10 pts. -- Between 3-5 minutes -- Turned in on time Total: 100 pts.

A "Top 3" Finalist Prize Winner may decline and thereby waive his/her right to receive a Finalist Prize. In order to claim a Finalist Prize, Finalist Prize Winners must be willing to submit to a criminal background check (to be administered by Southwest Airlines) and will be required to complete an Affidavit or Declaration of Eligibility and/or a Release and Waiver and Authorization To Reproduce Likeness (collectively, the "Documentation"). The Documentation must be returned within ten (10) business days of receipt of notification containing such Documentation. A potential Finalist Prize Winner's failure to sign and return the Documentation within ten (10) business days, or to provide a satisfactory criminal background check or to comply with any term or condition of these Rules may, at the sole discretion of Sponsor, result in disqualification, forfeiture of his or her interest in the Finalist Prize, and the next highest scoring "Top 3" Finalist will become a Finalist Prize Winner. Except where prohibited by law, a Finalist Prize Winner's acceptance of a Finalist Prize constitutes permission to use his/her name, voice/testimonial, hometown, Online Entry and/or likeness/photograph for promotional, advertising and/or publicity purposes in any media, now or hereafter known throughout the world in perpetuity, without further notice or compensation.

"Top 3" Finalist Prizes and their Approximate Retail Values ("ARV"): -- A trip for the "Top 3" Finalist Prize Winner to Las Vegas, NV from Sept. 19-22, 2008, consisting of round-trip air transportation for two (2) persons from the nearest airport that Southwest Airlines serves with regularly scheduled flights and one (1) hotel room per finalist for a maximum of three (3) nights. -- "Top 3" Finalists will be given a daily per diem of $50 to be used on food, transportation, and miscellaneous expenses. -- "Top 3" Finalists will stay 3 nights (Friday, Saturday, Sunday: Sept. 19-22) at a Las Vegas hotel.

Finalist Prize Winners must travel on dates designated by Southwest Airlines. In the event a Finalist Prize Winner cannot travel on dates designated by Southwest Airlines that Finalist Prize Winner will be disqualified and the Finalist Prize will be awarded to the next highest scoring "Top 10" Finalist, provided sufficient time remains prior to the designated Finalist Prize trip dates. If a Finalist Prize Winner resides within 50 miles of Las Vegas, air and ground transportation will not be provided. Any difference between actual retail value of Finalist Prize will not be awarded. All travel is subject to any and all restrictions instituted by the Department of Defense and/or Department of Homeland Security at the time of travel. "Top 3" Finalist Prize Winners will be solely responsible for obtaining any and all required travel documents prior to travel and the associated costs for these requirements. The Released Parties maintain no control over the personnel, equipment, or operation of any air carrier or ground transportation carrier as a part of the prize provided under this Contest and shall not be liable for any injury, damage, loss, expense, accident, delay, inconvenience, or other irregularity that may be caused. No substitution, refund, cash redemption, assignment or transfer of Finalist Prize permitted. Finalist Prize Winners must supply Southwest Airlines with their social security numbers for tax purposes. Finalist Prize Winners are solely responsible for all federal, state and local taxes on Finalist Prize. Once travel arrangements have been made, changes to itinerary cannot be made by a Finalist Prize Winner or Guest. All Finalist Prize Winners must submit to a background check to Southwest Airlines. "Top 3" Finalist Prize Winners may be disqualified from the Contest based on their failure to submit to a fingerprint criminal background check or based on the results of the background check.

Grand Prize Voting Period: Individuals who go to http://southwest.spigit.com/homepage between 12:00 a.m. ET and 3:29:59 PM ET on September 21, 2008, ("Grand Prize Voting Period") will be asked to view the three (3) Grand Prize Video Applications and vote for their favorite. The Finalist Prize Winner who receives the highest number of votes during the Grand Prize Voting Period will be deemed the Grand Prize Winner.

"Ultimate Blog-o-spondent": The Grand Prize Winner will be announced at the BlogWorld Expo in Las Vegas on September 21 and will be offered the job of "Ultimate Blog-o-spondent;" a contract Employee of Southwest Airlines expected to create original videos about four (4) specific cities that Southwest Airlines serves. Southwest Airlines will provide travel, accommodations, and miscellaneous expenses on all trips to capture videos about these four cities. Southwest Airlines will also provide an assistant for four video shoots. Official relationship will commence on or about October 1, 2008 and terminate on October 1, 2009, (the "Employment Period"). The Grand Prize Winner's partnership is contingent upon: (1) Grand Prize Winner's completion of the requisite employment paperwork including, but not limited to, an ideas form, a confidentiality agreement and a job application; and (2) Grand Prize Winner's compliance with the "Southwest Airlines Look". Southwest Airlines reserves the right, in its sole discretion, to not hire the Grand Prize Winner for any reason. The Grand Prize Winner must also successfully complete certain training including, without limitation, Media Training and traditions. The Grand Prize Winner's sole obligation as "Blog-o-spondent" will be to travel to those assignments (determined by Southwest Airlines in its sole discretion) four (4) times during the Employment Period. The Grand Prize Winner must be available to travel when needed by Southwest Airlines. Each time the Grand Prize Winner travels at the request of Southwest Airlines during the Employment Period, Southwest will provide the following to the Grand Prize Winner: (a) round-trip air transportation from the nearest Southwest Airlines city, (B) transportation between the Arrival Airport and the location of Grand Prize Winner's assignment (c) hotel accommodations (depending on availability, one standard room, quad occupancy) at a hotel designated by Southwest Airlines, (D) a spending allowance in an amount to be determined by Southwest Airlines in its sole discretion. If the Grand Prize Winner resides within 50 miles of the destination, air transportation will not be provided. The Grand Prize Winner will receive no other compensation from Southwest Airlines for his/her services as the Blog-o-spondent. The Grand Prize Winner is solely responsible for any and all ground transfers between winner's residence and airport of departure, gratuities, travel upgrades, personal incidentals, all airport and government issued taxes, and any other expenses not specified herein. All travel is subject to any and all restrictions instituted by the Department of Defense and/or Department of Homeland Security at the time of travel. Grand Prize Winner will be solely responsible for obtaining any and all required travel documents prior to travel and the associated costs for these requirements. The Released Parties maintain no control over the personnel, equipment, or operation of any air carrier or ground transportation carrier and shall not be liable for any injury, damage, loss, expense, accident, delay, inconvenience, or other irregularity that may be caused. No substitution, refund, cash redemption, assignment or transfer of any of the foregoing compensation permitted. Grand Prize Winner is solely responsible for all federal, state and local taxes. These Rules do not constitute a partnership agreement. Specifically, Grand Prize Winner is an at-will partnership and his/her relationship with Southwest Airlines may be terminated at any time.

Participation: Participation in the Contest constitutes an agreement by each entrant to comply with these Rules. These Rules will be posted at http://southwest.spigit.com/homepage between August 1, 2008 and October 1, 2008. Sponsor reserves the right to, in its sole discretion, cancel, modify or suspend the Contest should any computer virus, bugs or other technical difficulty or other causes beyond the control of the Sponsor or Released Parties corrupt the administration, security or proper play of the Contest.

Limitations of Liability: By entering the Contest, you agree that (1) any and all disputes, claims, and causes of action arising out of or in connection with the Contest, or any prize awarded, shall be resolved individually without resort to any form of class action; (2) any claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering the Contest, but in no event attorney's fees; and (3) under no circumstances will you be permitted to obtain any award for, and you hereby waive all rights to claim, punitive, incidental or consequential damages and any and all rights to have damages multiplied or otherwise increased and any other damages, other than damages for actual out-of-pocket expenses.

General Release: By entering the Contest, you release and discharge Southwest Airlines and Released Parties from any liability whatsoever in connection with the Contest or with the acceptance, possession, use or misuse of any prize including, without limitation, legal claims, costs, injuries, losses or damages, demands or actions of any kind (including, without limitation: personal injuries; death; damage to, loss or destruction of property; rights of publicity or privacy; and defamation or portrayal in a false light). Southwest Airlines will not be responsible for typographical, printing or other inadvertent errors in these Rules or in other materials relating to the "Ultimate Blog-o-spondent" casting call.

Official Rules/Winners List: To obtain a copy of these Rules, print them from the Internet at http://southwest.spigit.com/homepage. If you have any questions regarding this Contest or would like to obtain the names of the Finalist Prize Winners and/or Grand Prize Winner (available after January 31, 2009, send a self-addressed, stamped envelope to: Southwest Airlines, Emerging Media, 2702 Love Field Drive, HDQ-1PR, Dallas, TX 75235.

http://www.southwest.com/

Photo: http://www.newscom.com/cgi-bin/prnh/20040715/DATH028-a
http://www.newscom.com/cgi-bin/prnh/20010718/SWNULOOK
http://www.newscom.com/cgi-bin/prnh/20010724/SWALOGO
PRN Photo Desk, photodesk@prnewswire.com Southwest Airlines

CONTACT: Southwest Airlines Public Relations, +1-214-792-4847

Web site: http://www.southwest.com/
http://www.blogworldexpo.com/
http://www.spigit.com/

Facebook Audience Triples in Japan During Past Year, According to comScoreMixi.jp Substantially Outpaces its Peers with More than 12 Million Visitors in June

TOKYO, Aug. 7 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today released a study of online social networking in Japan based on data from the comScore World Metrix service. The report found that Facebook visitation more than tripled during the past year, while Mixi.jp was the most visited social networking destination in Japan with 12.7 million visitors.

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

"The competition between social networks in Japan is beginning to heat up with the recent introduction of the Japanese language version of Facebook," said Maru Sato, managing director of comScore Japan. "The popular social networking site's launch of Spanish, French and German language sites earlier this year resulted in strong traffic growth in these markets. If this is a reliable indication, we can expect to see Facebook's growth in Japan follow a similar trend."

Facebook Sees Strong Growth in Japan, but Mixi Still Dominates

An analysis of selected social networking sites in Japan revealed that Mixi.jp held the leading position in the Japanese market with 12.7 million visitors in June. Facebook.com, which recently launched a Japanese language version of the site, has grown dramatically during the past year, gaining 213 percent to 538,000 visitors. MySpace.com attracted 1.2 million visitors, up 10 percent versus year ago, while Orkut drew 638,000 visitors and Gree had 455,000 visitors.

Selected Social Networking Sites* June 2008 vs. June 2007 Total Japan- Age 15+, Home and Work Locations** Source: comScore World Metrix Total Unique Visitors (000) Jun-2007 Jun-2008 % Change Total Internet 53,716 56,220 5 MIXI.JP 12,367 12,738 3 MYSPACE.COM 1,137 1,245 10 Orkut N/A 638 N/A FACEBOOK.COM 172 538 213 Gree 531 455 -14 * Selected social networking sites based on comScore's Social Networking category. ** Excludes traffic from public computers such as Internet cafes or access from mobile phones or PDAs. Orkut Visitors Show Heaviest Engagement

Though the number of visitors to Orkut is lower compared to other social networking sites in Japan, it ranks as the most engaging of the social networking sites in this study across several measures, including average usage days per visitor (11.5), average minutes per visitor (454), and average pages per visitor (1,557). Mixi.jp also generates fairly heavy engagement, while Facebook.com and MySpace.com show more modest engagement thus far.

Selected Social Networking Sites* June 2008 Total Japan- Age 15+, Home and Work Locations** Source: comScore World Metrix Average Usage Average Average Days per Minutes per Pages per Visitor Visitor Visitor Total Internet 14.9 1,053.1 2,129 Orkut 11.5 454.0 1,557 MIXI.JP 7.5 134.0 246 Gree 3.5 130.5 214 FACEBOOK.COM 3.5 40.5 98 MYSPACE.COM 3.0 34.7 81 * Selected social networking sites based on comScore's Social Networking category. ** Excludes traffic from public computers such as Internet cafes or access from mobile phones or PDAs.

Added Mr. Sato, "As these newer sites attract larger audiences and become more familiar in the Japanese market, engagement among their users will inevitably grow."

About comScore

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

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

CONTACT: Sarah Radwanick of comScore, Inc., +1-312-775-6538,
press@comscore.com; or Jason Lee, comscore@cosmopr.co.jp, +81-3-5561-2915, for
comScore, Inc.

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

Preformed Line Products Announces Second Quarter and First Half 2008 Results- Net income increased 54% for the second quarter and 26% for the first six months- Net sales increased 30% for the second quarter and 23% for the first six months- Earnings per diluted share increased 56% for the second quarter and 27% for the first six months

MAYFIELD VILLAGE, Ohio, Aug. 7 /PRNewswire-FirstCall/ -- Preformed Line Products Company today reported financial results for the second quarter and the first six months of 2008.

Net income for the quarter ended June 30, 2008 increased 54% to $5,489,000, or $1.03 per diluted share, compared to $3,564,000, or $.66 per diluted share, for the comparable period in 2007. Net income in the second quarter of 2008 included a net gain of $495,000, or $.09 per diluted share, on the sale of Superior Modular Products Company, a wholly owned domestic subsidiary.

Net sales in the second quarter of 2008 were $75,362,000, an increase of 30% from sales of $58,072,000 in the second quarter of 2007.

Net income for the six months ended June 30, 2008 increased 26% to $8,439,000, or $1.57 per diluted share, compared to $6,716,000, or $1.24 per diluted share for the comparable period in 2007. Net sales increased 23% to $135,227,000 for the first six months of 2008 compared to $110,051,000 in the first six months of 2007.

Currency exchange rates favorably impacted sales by $3,565,000 for the quarter and $6,623,000 for the first six months of 2008, while the impact on net income was only $83,000 for the quarter and $202,000 for the first six months of 2008.

Rob Ruhlman, Chairman and Chief Executive Officer, said, "Our second quarter performance was solid with double digit increases in sales. We are pleased with the ongoing successful integration of our acquisitions from last year. The sale of SMP will allow us to continue to focus on growing our core business units. We implemented price increases in June to pass on a portion of the cost increases we are experiencing in raw materials. The cost increases are ongoing and we are considering additional price increases in the third quarter. Although the world economy is experiencing turbulence, our geographical diversity has thus far mitigated this disturbance. This continues to be a challenge we will face for the foreseeable future."

Founded in 1947, Preformed Line Products is an international designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for energy, communications and broadband network companies.

Preformed's world headquarters are in Cleveland, Ohio, and the Company operates three domestic manufacturing centers located in Rogers, Arkansas, Albuquerque, New Mexico, and Albemarle, North Carolina. The Company serves its worldwide market through international operations in Australia, Brazil, Canada, China, England, Mexico, New Zealand, Poland, South Africa, Spain and Thailand.

This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the Company, including those statements regarding the Company's and management's beliefs and expectations concerning the Company's future performance or anticipated financial results, among others. Except for historical information, the matters discussed in this release are forward-looking statements that involve risks and uncertainties which may cause results to differ materially from those set forth in those statements. Among other things, factors that could cause actual results to differ materially from those expressed in such forward-looking statements include the strength of the economy and demand for the Company's products, increases in raw material prices, the Company's ability to identify, complete and integrate acquisitions for profitable growth, and other factors described under the heading "Forward-Looking Statements" in the Company's 2007 Annual Report on Form 10-K filed with the SEC on April 7, 2008. The Annual Report on Form 10-K and the Company's other filings with the SEC can be found on the SEC's website at http://www.sec.gov/. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

PREFORMED LINE PRODUCTS COMPANY STATEMENTS OF CONSOLIDATED OPERATIONS (UNAUDITED) In thousands, except per share Three month periods Six month periods data ended June 30, ended June 30, 2008 2007 2008 2007 (restated) (restated) Net sales $75,362 $58,072 $135,227 $110,051 Cost of products sold 51,685 38,358 92,545 72,768 GROSS PROFIT 23,677 19,714 42,682 37,283 Costs and expenses Selling 6,186 5,861 11,760 11,054 General and administrative 7,691 6,168 15,047 11,652 Research and engineering 2,338 1,783 4,327 3,455 Other operating expenses - net 233 124 143 310 Goodwill impairment - - - 199 16,448 13,936 31,277 26,670 OPERATING INCOME 7,229 5,778 11,405 10,613 Other income (expense) Interest income 216 254 430 541 Interest expense (138) (132) (277) (297) Other income (expense) 22 (7) 20 (13) 100 115 173 231 INCOME BEFORE INCOME TAXES, MINORITY INTERESTS AND DISCONTINUED OPERATIONS 7,329 5,893 11,578 10,844 Income taxes 2,382 2,509 3,797 4,175 INCOME BEFORE MINORITY INTERESTS AND DISCONTINUED OPERATIONS 4,947 3,384 7,781 6,669 Minority interests, net of tax (78) - (111) - INCOME FROM CONTINUING OPERATIONS 4,869 3,384 7,670 6,669 Income from discontinuing operations, net of tax 620 180 769 47 NET INCOME $5,489 $3,564 $8,439 $6,716 Income per share from continued operations - basic $0.92 $0.63 $1.44 $1.25 Income per share from discontinued operations - basic $0.12 $0.04 $0.14 $0.01 Total net income per share - basic $1.04 $0.67 $1.58 $1.26 Income per share from continued operations - diluted $0.91 $0.63 $1.43 $1.23 Income per share from discontinued operations - diluted $0.12 $0.03 $0.14 $0.01 Total net income per share - diluted $1.03 $0.66 $1.57 $1.24 Cash dividends declared per share $0.20 $0.20 $0.40 $0.40 Weighted-average number of shares outstanding - basic 5,296 5,369 5,339 5,364 Weighted-average number of shares outstanding - diluted 5,345 5,421 5,387 5,408 PREFORMED LINE PRODUCTS COMPANY CONSOLIDATED BALANCE SHEETS (UNAUDITED) June 30, December 31, Thousands of dollars, except share 2008 2007 data ASSETS Cash and cash equivalents $23,331 $23,392 Accounts receivable, less allowances of $1,065 ($1,199 in 2007) 48,275 37,002 Inventories - net 44,823 43,788 Deferred income taxes 2,976 2,982 Prepaids and other 6,097 4,098 Current assets of discontinued operations - 12,188 TOTAL CURRENT ASSETS 125,502 123,450 Property and equipment - net 63,143 58,506 Patents and other intangibles - net 5,722 5,637 Goodwill 5,063 3,928 Deferred income taxes 4,001 3,744 Other assets 8,911 8,601 TOTAL ASSETS $212,342 $203,866 LIABILITIES AND SHAREHOLDERS' EQUITY Notes payable to banks $2,750 $4,076 Current portion of long-term debt 1,630 1,949 Trade accounts payable 19,553 15,178 Accrued compensation and amounts withheld from employees 9,150 6,995 Accrued expenses and other liabilities 12,369 12,254 Current liabilities of discontinued operations - 1,897 TOTAL CURRENT LIABILITIES 45,452 42,349 Long-term debt, less current portion 3,200 3,010 Other noncurrent liabilities and deferred income taxes 8,434 7,882 Minority interests 1,255 904 SHAREHOLDERS' EQUITY Common shares - $2 par value, 15,000,000 shares authorized, 5,214,830 and 5,380,956 outstanding, net of 551,059 and 378,333 treasury shares at par, respectively 10,430 10,762 Paid in capital 3,012 2,720 Retained earnings 139,547 140,339 Accumulated other comprehensive income (loss) 1,012 (4,100) TOTAL SHAREHOLDERS' EQUITY 154,001 149,721 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $212,342 $203,866

Preformed Line Products Company

CONTACT: Eric R. Graef of Preformed Line Products, +1-440-473-9249

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

VIDEO from Medialink and General Motors: Smile ... You're on Camera

NEW YORK, Aug. 7 /PRNewswire/ -- With the current economy in a slump, many drivers are looking to replace their older vehicles with used cars instead of new. To help eliminate the confusion about what constitutes a certified used vehicle, a team of surveillance professionals put their skills to the test. In an ambush style mission, they set out to uncover the potential pitfalls.

(See video from General Motors at: http://media.medialink.com/WebNR.aspx?story=35431)

A new interactive website, http://www.usedcarambush.com/, from General Motors has launched to educate and entertain consumers on the risks of purchasing a vehicle from a private seller. The site also shows the benefits of opting for a manufacturer certified used vehicle, like getting added warranties.

In the video, actual used vehicle sellers are confronted by an MTV-Punk'd-styled actor who asks the questions that private party sellers often don't want to hear, like "do you offer roadside assistance?" or "is there a warranty?" Using hidden cameras, the team was able to film buyers attempting to get things like financing and courtesy transportation -- options private sellers usually do not provide. More than 400 hours of footage was taken displaying surveillance-style footage of the ambushes as they happen.

Registered journalists can access video, audio, text, graphics and photos for free and unrestricted use at http://www.mediaseed.tv/.

07FF08-0103

Medialink; General Motors

CONTACT: Medialink, New York, +1-888-560-5578, mediadesk@medialink.com

Web site: http://www.usedcarambush.com/
http://www.mediaseed.tv/

AT&T Launches Enhanced eBill Service for Wireless Customers Through Relationship with Fiserv's CheckFreeNew, Convenient Service Allows Customers to View and Pay Bills Online Through 3,000 Financial Institutions

DALLAS, Aug. 7 /PRNewswire-FirstCall/ -- To make bill paying even easier, AT&T Inc. today announced an expanded relationship with CheckFree, now part of Fiserv Inc. , a leading provider of information technology services to the financial and insurance industries. Customers now have the option to receive and pay their AT&T wireless phone bills through more than 3,000 financial institutions' Web sites.

AT&T's expanded relationship with CheckFree means customers can sign up through their banks' Web sites to receive eBills, or online statements, from AT&T. The AT&T eBill service lets customers access their current statements online, customize payment options and view archived account histories for their service. Through the new alliance, billing and account information is securely delivered to customers online through their preferred financial institutions.

"Customers today are demanding choice and convenience in how they view and pay their bills online," said Brian Daly, director, AT&T Mobility. "They enjoy the simplicity of being able to manage their bills at their individual banking service provider, so they can consolidate their finances in one central location online. Our goal is to provide customers with a variety of billing and payment options so they can choose the method that best meets their needs."

The new addition to AT&T's eBill portfolio also underscores the company's commitment to sustainability initiatives, including its advisory role and membership with the PayItGreen Alliance(TM) -- an alliance of financial institutions and billing companies that encourages consumers to make financial transactions via the Web, rather than through traditional mail. Fiserv and CheckFree are also members of PayItGreen, which is focused on educating consumers and businesses about the environmental benefits of choosing electronic billing, statements and payments instead of paper. Learn more at http://www.payitgreen.org/.

According to the PayItGreen Alliance, if 20 percent of U.S. households switched to electronic bills, statements and payments, it would save more that 151 million pounds of paper, avoid the creation of nearly 1.5 billion gallons of wastewater, eliminate the production of nearly 4 billion pounds of greenhouse gases and avoid the use of nearly 103 million gallons of gasoline each year.

A recent Forrester Research survey found that 48 percent of consumers selected "It's better for the environment" as the top reason why they stopped receiving paper bills and opted instead to receive them online.

"Recent research has shown that the majority of consumers now prefer viewing and paying their bills online, as opposed to receiving paper bills in the mail," said Michelle Flint, vice president and group executive, Fiserv Internet Banking and Electronic Payments Group. "We are committed to working with AT&T to further educate the public about the positive impact that online bill payment and eBills can have on the environment."

AT&T customers made nearly 85 million online bill payments in 2006 and more than 92 million online bill payments in 2007, an 8.2 percent increase over just one year. The company expects even more customers to pay their bills online in 2008.

Consumers can learn more about how they can get started receiving and paying their bills online at http://www.ebillplace.com/. The CheckFree- sponsored Web site also provides green and money-saving calculators and allows consumers to search for banks and billers that offer online billing and payment services.

About AT&T

AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. In 2008, AT&T again ranked No. 1 on Fortune magazine's World's Most Admired Telecommunications Company list and No. 1 on America's Most Admired Telecommunications Company list. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.

Cautionary Language Concerning Forward-Looking Statements

Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.

(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.

About Fiserv, Inc.

Fiserv, Inc. , a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit http://www.fiserv.com/. FISV-G

About the PayItGreen Alliance

The PayItGreen(TM) Alliance was formed in 2007 to educate consumers about the positive environmental impact of choosing electronic bills, statements and payments over paper alternatives. The Alliance is comprised of leaders in the financial and consumer billing industries including representatives from Bank of America, BillMatrix, Capital One, CheckFree, now part of Fiserv, Citi, Citizens Bank, EPN, Harris Bank, the Federal Reserve Banks, Fiserv, JPMorgan Chase, The Regional Payments Associations, SunTrust Bank, U.S. Bank, Wachovia and Wells Fargo. Special advisors to the Alliance are AT&T, Con Edison and Qwest Communications. NACHA- The Electronic Payments Association is coordinating the initiative. Additional information about the Alliance can be found at http://www.payitgreen.org/.

AT&T Inc.

CONTACT: April Borlinghaus of AT&T, +1-512-495-7166,
aborling@attnews.us; or Sheryl Roehl of CheckFree, +1-678-375-1682,
saroehal@checkfree.com

Web site: http://www.att.com/
http://www.fiserv.com/
http://www.payitgreen.org/

Supply Chain Integrity Completes Second Round of Funding; Raises $2.5M from Multiple InvestorsLoJack Corporation Increases Stake in SCI to 60 Percent

ROCKWALL, Texas, Aug. 7 /PRNewswire-FirstCall/ -- Supply Chain Integrity (SCI), developers of an innovative, first-of-its-kind integrated solution that reduces and manages risk throughout the supply chain, today announced the completion of its second round of funding. As part of the round, LoJack Corporation has increased its investment in SCI, now owning 60 percent of the company.

Robert Furtado, Supply Chain Integrity's Chief Executive Officer, said, "We are very pleased to have completed this transaction raising additional funds and expanding our working relationship with LoJack. With its increased stake in SCI, LoJack is enabling us to evolve beyond security and cargo theft applications and into integrated supply chain protection solutions that address enterprise risk associated with supply chain threats, which we believe is the future of our industry. SCI is fortunate to be able to leverage LoJack's recognized brand, recovery expertise and law enforcement relationships, which are important differentiators and unequaled in the marketplace."

According to a survey conducted by Chubb Group Insurance Companies, broken links in the supply chain is one of the top three threats to business operations in 2008. Today, SCI is the only company that provides an integrated solution for supply chain protection -- from information sharing and analysis to investigative intelligence to covert monitoring and recovery. It is building an extensive, diverse community of members, from private industry to law enforcement, who for the first time have a platform to share information and combat supply chain threats. SCI's customers include the leading manufacturing, logistics and retail corporations in the world.

"LoJack originally invested in SCI because we saw it as a strong entry into the emerging cargo security market," said Ronald V. Waters, LoJack President and Chief Operating Officer. "Today, the opportunity has expanded to enterprise risk management and our investment will help SCI deliver powerful solutions for that emerging market segment. This investment is part of LoJack's strategy to diversify our business through entry into new markets, growing our international business and developing new products based on our technology -- all with the goal of providing solutions that recover a wider range of valuables globally."

About Supply Chain Integrity

Founded in 2004, Supply Chain Integrity (SCI) is the only company that provides a total integrated solution for supply chain protection -- from information sharing and analysis to investigative intelligence to covert monitoring and recovery -- making its solution the most complete in the industry. SCI is building an extensive, diverse community of members -- from private industry to law enforcement -- who for the first time have a platform to share information and combat supply chain threats, making the company a powerful force in the market. In 2008, LoJack Corporation became a majority shareholder in SCI, bringing its venerable brand's resources, recovery expertise and law enforcement relationships to this innovative, emerging company. Visit http://www.sc-integrity.net/.

About LoJack Corporation

LoJack Corporation, the company that invented the stolen vehicle recovery market more than two decades ago, is the global leader in recovering valuable mobile assets. The company's time-tested system is optimized for recovering stolen mobile assets through its proven Radio Frequency technology and unique integration with law enforcement agencies in the United States that use LoJack's in-vehicle tracking equipment to recover cars, trucks, commercial vehicles, construction equipment and motorcycles. The company's Stolen Vehicle Recovery System delivers a 90 percent success rate for cars and trucks and has helped recover more than $4 billion worldwide in stolen LoJack-equipped assets. Today, LoJack operates in 26 states and the District of Columbia, and in more than 30 countries throughout North America, South America, Europe, Africa and Asia. Visit http://www.lojack.com/.

CONTACTS: Robert Furtado Paul McMahon Supply Chain Integrity LoJack Corporation 951-775-1168 781-251-4130 Laura Feng Jeanne Bock Tier One Partners Tier One Partners 978-975-1414 781-861-5249

LoJack Corporation

CONTACT: Robert Furtado of Supply Chain Integrity, +1-951-775-1168; Paul
McMahon of LoJack Corporation, +1-781-251-4130; or Laura Feng,
+1-978-975-1414, or Jeanne Bock, +1-781-861-5249, both of Tier One Partners

Web site: http://www.lojack.com/
http://www.sc-integrity.net/

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News archive of November 2009
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