Harbin Electric Reports Strong Results for the Second Quarter 2008

Revenues Up 71 Percent and Net Income Up 37 Percent Year over Year Highlights: -- Total revenues were $23.96 million, up 71% compared to $13.99 million in the second quarter of 2007 -- Net income was $6.23 million, up 37% compared to $4.56 million in the second quarter of 2007 -- Diluted earnings per share were $0.31, up 29% compared to $0.24 for the same quarter of last year

HARBIN, China, Aug. 11 /Xinhua-PRNewswire-FirstCall/ -- Harbin Electric, Inc. ('Harbin Electric' or the 'Company'; Nasdaq: HRBN), a leading developer and manufacturer of a wide range of electric motors, reported its financial results for the second quarter 2008. The Company filed its quarterly report 10Q last Friday, August 8, 2008.

Quarterly Key Figures Three Months Ended YoY% 30-Jun-08 30-Jun-07 Change Revenues $23,959,073 $13,989,693 71% Gross Profit $11,456,134 $7,220,370 59% Gross Profit Margin 48% 52% Operating Profit $8,224,637 $5,538,993 48% Operating Margin 34% 40% Net Income $6,230,943 $4,556,156 37% Net Margin 26% 33% Diluted EPS $0.31 $0.24 29%

Total revenues in the second quarter of 2008 were $23.96 million, a 71% increase compared to $13.99 million in the same quarter of 2007, primarily driven by sales of new products from the automobile specialty micro-motors and tower type oil pumps. Linear motors and their integrated application systems contributed 45% to total revenues, automobile specialty micro-motors 38%, and others 17% compared to 66%, 0%, and 34%, respectively, for the quarter ended June 30, 2007. Automobile micro-motors contributed approximately $9 million and tower type oil pumps contributed approximately $3 million to total revenues. Sales to markets outside China accounted for about 13% of total revenues.

Gross profit margin was 48% compared to 52% for the same period last year. The slight decline in gross profit margin was mainly due to changes in the product mix with the introduction of the new product line of the automobile micro-motor business, which has a relatively lower gross profit margin. Gross profit margin was 52% for linear motors and 40% for automobile specialty micro-motors.

Selling, general and administrative expenses (SG&A) were $3.04 million, compared to $1.45 million in the same quarter of 2007. As a percentage of total sales, the Company's total SG&A expenses increased to 13% in this quarter from 10% in the same quarter last year. The year-over year increase was primarily a result of business expansion, increased sales activities and generally higher administration expenses related to compensation as well as the Company's listing on NASDAQ such as fees related to legal, auditing, board of directors, liability insurance, professional consultation, financial reporting and filing compared to the previous year. The Company expects total SG&A expenses as a percentage of sales to be in the range of 10%-12% on average going forward.

Operating margin declined to 34% from 40% in the prior year quarter, primarily due to lower gross profit margin in our automobile micro-motors business and higher selling, general and administrative expenses.

Net Income increased by 37% to $6.23 million in the second quarter of 2008 from $4.56 million in the same quarter of 2007 despite a $1.05 million provision for income tax as the Company began to pay income tax on January 1, 2008. This has resulted in a significant reduction in net earnings growth compared to previous periods. Higher SG&A costs for this quarter also negatively affected earnings growth. Additionally, the Company received $763,408 in government grants in the second quarter of 2007, while there were no such grants in the second quarter of 2008, which also unfavorably affected the quarterly comparison.

Net earnings per diluted share grew 29% year-over-year to $0.31 from $0.24 for the same quarter of last year. The total diluted weighted average number of shares increased by 1.28 million shares, which resulted in some earnings dilution.

Six Month Period Key Figures Six Months Ended YoY% 30-Jun-08 30-Jun-07 Change Revenues $46,417,258 $27,615,907 68% Gross Profit $22,215,611 $14,078,298 58% Gross Profit Margin 48% 51% Operating Profit $16,860,460 $10,664,618 58% Operating Margin 36% 39% Net Income $11,584,179 $7,960,219 46% Net Margin 25% 29% Diluted EPS $0.58 $0.42 38%

For the six-month period ended June 30, 2008, the Company achieved total revenues of $46.42 million compared to $27.62 million for the six-month period ended June 30, 2007, representing a 68% year-over-year growth. Linear motors and related integrated application systems contributed 44% to total revenues, automobile specialty micro-motors contributed 38%, and controllers, armatures, and other special motors contributed 18% compared to 76%, 0%, and 24%, respectively, for the six months ended June 30, 2007. The year-over-year growth in revenues was primarily driven by sales of new products from the automobile specialty micro-motors and the tower type oil pumps, which contributed approximately $18 million, and $5 million to total revenues, respectively. The growth in new product sales was partially offset by slightly lower sales in other product types. Sales to markets outside China accounted for about 15% of total revenues for the six-month period. Contributions from the automobile specialty micro-motors business and the oil pumps did not begin until the second half of 2007.

Gross profit was $22.22 million compared to $14.08 million for the six months ended June 30, 2007. The increase is directly related to higher sales levels. Gross margin was 48% for the six months ended June 30, 2008 compared to 51% for the six months ended June 30, 2007. The slight decline in gross profit margin was mainly due to changes in the product mix with the introduction of the new product line of the automobile micro-motor business, which has a relatively lower gross profit margin. Average gross profit margin was 52% for linear motors and 40% for automobile specialty micro-motors.

Selling, general and administrative expense (SG&A) totaled $5.07 million for the six months ended June 30, 2008, compared to $2.96 million in the same period of 2007. The year-over-year increase in SG&A was primarily a result of business expansion and increased sales activities. However, as a percentage of total sales, total SG&A expenses remained relatively stable at 12%, which is within the Company's expected range.

Operating margin declined to 36% from 39% for the same six-month period in the prior year, mainly due to increased contributions from the Company's lower margin automobile micro-motors business.

Net Income was $11.58 million compared to $7.96 million for the six months ended June 3, 2007, representing a year-over-year increase of 46%. This increase in net income was mainly due to new sales driven primarily by automobile micro-motor business and the tower-type oil pumps. The income tax that the Company began to pay on earnings has resulted in a significant reduction in our growth of net earnings compared to previous periods. During the first six months, the Company has made a total of $2.05 provision for income tax.

Earnings per diluted share grew 36% from $0.42 to $0.58 in the six months ended June 30, 2007. The total diluted weighted average number of shares increased by 1.26 million shares, which negatively affected earnings per share.

"We are quite pleased with our performance this past quarter," said Mr. Tianfu Yang, Harbin Electric's Chairman and Chief Executive Officer. "We have delivered another strong quarter and we see exciting times ahead. On the back of our successful private placement of 3.5 million shares closed on June 24, we were able to complete the acquisition of Weihai Hengda Electric Motor Co. Ltd. which added a third major product line -- rotary motors -- to our product portfolio."

"Our current major focus at Hengda is to ensure that its management team has all the support and resources necessary to complete the existing supply contracts for the year, which should grow revenues and earnings by 30% over 2007. Next, we will gradually improve manufacturing efficiency and optimize product mix by bringing in new technologies and developing higher grade new products over the next few years. To this effect, a special team led by our Chief Technology Officer Mr. Okawa will conduct a thorough study of manufacturing processes and technologies at Hengda, identify opportunities, issue recommendations, and assist with the execution of the plan."

"In Shanghai, the construction of the main building of our new facility has been completed," Mr. Yang continued. "Core production lines and equipment have arrived and we are scheduled to conduct equipment adjusting and testing and start trial runs with all our people in Shanghai moving in to the new facility on October 15. While we have been a bit delayed we are working hard to meet our commitment to our major North American customer Magna International Inc. to have a minimum capacity of 1 million units ready at Shanghai by December this year. We have scheduled three micro-motor lines to be produced at Shanghai for Magna. These micro-motors including applications for car seats, door locks, and engines have all been successfully developed and validated by Magna. We estimate that the market potential for these micro-motors could reach a total of $500 million for the next four years," Mr. Yang added.

"Our tower type oil pump project for Daqing Oil Field is on track. With 39 units completed in the first quarter and 80 in the second quarter, we expect to complete 200 units for the whole year."

"Our linear motor driven subway train project progressed quite well. I am pleased to report that the subway line between Beijing airport and the city started to operate successfully before the Beijing Olympic Games. This is a clear validation and recognition by the government of the application of the linear motor technology to urban mass transportation in China. I am confident that the development process of China's own linear motor driven subway train will be accelerated and I expect that it will move to a new stage after the Beijing Olympics."

Looking ahead, Mr. Yang concluded, "With a well established multi-faceted growth strategy and multiple projects under way, I believe that Harbin Electric is ideally positioned to capture market opportunities and continuously deliver solid results."

About Harbin Electric, Inc.:

Harbin Electric, headquartered in Harbin, China, is a leading developer and manufacturer of a wide array of electric motors with a focus on innovative, customized and value-added products. Its major product lines include linear motors, automobile specialty micro-motors, and industrial rotary motors. The Company's products are purchased by a broad range of domestic and international customers, including those involved in oil services, factory automation, food processing, packaging, transportation, automobile, medical devices, machinery and tool manufacturing, petrochemical, as well as in the metallurgical and mining industries.

Harbin Electric has built a strong research and development capability by recruiting talent worldwide and through collaborations with top scientific institutions. The Company owns numerous patents in China and has developed award-winning products for its customers. Through its U.S. and China-based subsidiaries, the Company operates two manufacturing facilities in China located in Harbin and Weihai, and is completing the construction of a high-efficiency production plant in Shanghai. Harbin Electric employs approximately 2,200 people including employees at Hengda Electric Motor Co. Ltd., which it recently acquired. Each of the three manufacturing facilities is dedicated to a specific product line and is equipped with state-of-the-art production equipment and quality control systems.

As China continues to grow its industrial base, Harbin Electric aspires to be a pioneer in leading the industrialization and technology transformation of the Chinese manufacturing sector. To learn more about Harbin Electric, visit http://www.harbinelectric.com/ .

Safe Harbor Statement

The actual results of Harbin Electric, Inc. could differ materially from those described in this press release. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in the Company's periodic filings with the U.S. Securities and Exchange Commission, including the factors described in the section entitled 'Risk Factors' in its annual report on Form 10-KSB for the year ended December 31, 2007. The Company does not undertake any obligation to update forward-looking statements contained in the press release. This press release contains forward-looking information about the Company that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as 'believe,' 'expect,' 'may,' 'will,' 'should,' 'project,' 'plan,' 'seek,' 'intend,' or 'anticipate' or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company's future performance, operations and products.

For investor and media inquiries, please contact: In China Harbin Electric, Inc. Tel: +86-451-8611-6757 Email: MainlandIR@Tech-full.com In the U.S. Christy Shue Harbin Electric, Inc. Executive VP, Finance & Investor Relations Tel: +1-631-312-8612 Email: cshue@HarbinElectric.com Kathy Li Christensen Investor Relations Tel: +1-212-618-1987 Email: kli@christensenir.com

Harbin Electric, Inc.

CONTACT: In China, Harbin Electric, Inc., +86-451-8611-6757, or
MainlandIR@Tech-full.com; In the U.S., Christy Shue, Executive VP, Finance &
Investor Relations of Harbin Electric, Inc., +1-631-312-8612, or
cshue@HarbinElectric.com; Kathy Li of Christensen Investor Relations,
+1-212-618-1987, or kli@christensenir.com, all for Harbin Electric, Inc.

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

ISSI to Present at B. Riley & Company 2nd Annual Cash-Rich Tech Stock (CRTS) III Conference in San Francisco

SAN JOSE, Calif., Aug. 11 /PRNewswire-FirstCall/ -- Integrated Silicon Solution, Inc. today announced that Scott Howarth, President and CEO, and John Cobb, CFO, will speak at the B. Riley & Company 2nd Annual Cash-Rich Tech Stock (CRTS) III Conference being held in San Francisco, California at 3:30 p.m. PDT on Tuesday, August 12, 2008. The Conference is being held at the Le Meridien in San Francisco. Interested parties may access the live webcast of the presentation by visiting the ISSI website at http://www.issi.com/.

About the Company

ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) digital consumer electronics, (ii) networking, (iii) mobile communications and (iv) automotive electronics. The Company's primary products are high speed and low power SRAM and low and medium density DRAM. The Company also designs and markets EEPROM, SmartCards and is developing selected non-memory products focused on its key markets. ISSI is headquartered in Silicon Valley with worldwide offices in China, Europe, Hong Kong, India, Korea, Singapore, Japan, and Taiwan. Visit our web site at http://www.issi.com/.

Integrated Silicon Solution, Inc.

CONTACT: John Cobb, Vice President & CFO, Investor Relations of
Integrated Silicon Solution, Inc., +1-408-969-6600, ir@issi.com

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

Noah Education to Report Fourth Fiscal Quarter and Fiscal Year of 2008 Financial Results on August 21, 2008

SHENZHEN, China, Aug. 11 /Xinhua-PRNewswire/ -- Noah Education Holdings Ltd. ("Noah") , a leading provider of interactive education content in China, today announced that it will report its financial results for the fourth fiscal quarter and full fiscal year ended June 30, 2008 after the U.S. markets close on August 21, 2008. Noah's management will host an earnings conference call at 8 p.m. on August 21, 2008 U.S. Eastern Standard Time (8 a.m. on August 22, 2008 Beijing/Hong Kong time).

Dial-in details for the earnings conference call are as follows: U.S. Toll Free: +1-866-362-4831 Hong Kong: +852-3002-1672 International: +1-617-597-5347

Please dial-in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is "Noah Earnings Call."

A replay of the conference call may be accessed by phone at the following number until September 20, 2008:

U.S. Toll Free: +1-888-286-8010 International: +1-617-801-6888 Passcode: 24329082

Additionally, a live and archived webcast of the conference call will be available at http://ir.noahtech.com.cn/ .

About Noah

Noah Education Holdings Limited ("Noah") is a leading provider of supplementary educational content to China's elementary and middle school students. Noah develops and markets interactive educational content, software and delivery platforms that combine traditional education content with digital and multi-media technologies to cater to students' interests and enhance academic efficiency and performance. Noah employs a nationwide sales network, powerful brand image, and accessible and diversified delivery platforms to attract students to its innovative content. Noah delivers its education content via Noah electronic educational products, Noah's online website and after-school tutoring centers. The interactive and comprehensive structure of Noah's offerings encourages students and teachers to form knowledge-sharing communities around the Noah brand. Noah was founded in 2004 and is listed on the New York Stock Exchange under the ticker symbol NED.

For investor and media inquiries, please contact: In China: Wendy Li Noah Education Holdings Limited Tel: +86-755-8204-3194 Email: lixin@noahedu.com Helen Plummer Ogilvy Financial, Beijing Tel: +86-10-8520-3090 Email: helen.plummer@ogilvy.com In the United States: Jessica Barist Cohen Ogilvy Financial, New York Tel: +1-646-460-9989 Email: jessica.cohen@ogilvy.com

Noah Education Holdings Limited

CONTACT: In China: Wendy Li of Noah Education Holdings Limited, +86-755-
8204-3194, or lixin@noahedu.com; Or Helen Plummer of Ogilvy Financial, Beijing,
+86-10-8520-3090, or helen.plummer@ogilvy.com; Or In the United States:
Jessica Barist Cohen of Ogilvy Financial, New York, +1-646-460-9989, or
jessica.cohen@ogilvy.com

Web site: http://ir.noahtech.com.cn/

Arab Bank Goes Live With Misys Islamic Banking Solution

LONDON, August 11 /PRNewswire-FirstCall/ -- - Leading Middle East Institution Extends Longstanding Misys Relationship With Market Leading Functionality for Shari'a Compliant Commercial Retail Operations

Arab Bank, the first private sector financial institution in the Arab World, with offices throughout the Middle East, has gone live with the Misys Equation Islamic solution at its offices in Qatar. The move gives the Amman-based bank unmatched Corporate Islamic banking capabilities, and greatly enhances the bank's offering to the fast-growing Islamic banking community in Qatar. The intention is now to roll out the solution across its operations in the GCC.

Arab Bank, which has assets in excess of US$47.1bn, will further roll out the Islamic banking version of Equation starting with its Abu Dhabi branch which is expected to start in December 2008, thereby extending its presence in the Islamic Banking sector. The sector is forecast to be worth over US$1,000bn by the end of the decade(1).

With 500 branches spanning 30 countries across 5 continents, Arab Bank has been a customer of Misys for over 20 years, running Misys Equation across its network. The Islamic version of Equation covers the full range commercial banking operations, including finance, finance origination, automated profit calculation and distribution.

"Misys and Arab Bank have a long history of successful partnership, and I am delighted we are enhancing that with our addition of the Islamic Equation service," comments Assistant Arab Bank CEO Michel Accad. "The Middle Eastern Shari'a banking industry is one of the world's great banking success stories and it is essential for Arab Bank to be supported by industry-leading technology as we continue to further expand our services across the region."

Roy Froud, Head of Sales for Middle East and Africa, Misys, adds, "We are witnessing a rapid growth of the Islamic finance market, with Shari'a compliant products more in demand than ever before. Misys is working at the forefront of developing new functionality that underpins banks' back office operations and this extension of our work with Arab Bank is an excellent example of how we add real value to our Islamic banking clients."

Arab Bank

Arab Bank was established in 1930, its founding mission has been the driving force behind the significant role it has played in advancing Arab Economies through financing strategic projects across the Middle East and North Africa (MENA). It was - and still is - a key player in facilitating Pan-Arab trade and in connecting the world to MENA markets

After eight decades, Arab Bank, headquartered in Jordan, maintains a leading global network and enjoys a prominent position in the MENA region centers such as Dubai, Manama and Doha and key international financial centers such as London, Zurich, Frankfurt, New York, Singapore and Sydney.

With the world's largest Arab Banking branch network and a global team of high caliber professionals, Arab Bank is uniquely positioned to be a partner of choice for MENA and global expertise.

Arab Bank Group is one of the largest banking institutions in MENA. At end of June 2008, its shareholders' equity base reached USD 7.7 billion, and a total Assets of USD 47.1 billion, and a pre-tax and provisions profit of USD 616.8 million

About Misys plc

Misys plc , provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.

In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys is a market leader, serving more than 100,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries.

We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.

Misys: Experience, Solutions, Results Contact us today, visit: http://www.misys.com/

(1) Financial Times, London, June 23 2008 For further information please contact Edward Taylor Global Head of Public Relations Misys Solutions for Banking +44(0)20-3320-5530 edward.taylor@misys.com Sebastian Mathews Financial Dynamics +44(0)207-269-7158 sebastian.mathews@fd.com

Misys plc

CONTACT: For further information please contact: Edward Taylor, Global
Head of Public Relations, Misys Solutions for Banking, +44(0)20-3320-5530,
edward.taylor@misys.com; Sebastian Mathews, Financial Dynamics,
+44(0)207-269-7158, sebastian.mathews@fd.com

Arab Bank Goes Live With Misys Islamic Banking Solution

LONDON, August 11 /PRNewswire/ --

- Leading Middle East Institution Extends Longstanding Misys Relationship With Market Leading Functionality for Shari'a Compliant Commercial Retail Operations

Arab Bank, the first private sector financial institution in the Arab World, with offices throughout the Middle East, has gone live with the Misys Equation Islamic solution at its offices in Qatar. The move gives the Amman-based bank unmatched Corporate Islamic banking capabilities, and greatly enhances the bank's offering to the fast-growing Islamic banking community in Qatar. The intention is now to roll out the solution across its operations in the GCC.

Arab Bank, which has assets in excess of US$47.1bn, will further roll out the Islamic banking version of Equation starting with its Abu Dhabi branch which is expected to start in December 2008, thereby extending its presence in the Islamic Banking sector. The sector is forecast to be worth over US$1,000bn by the end of the decade(1).

With 500 branches spanning 30 countries across 5 continents, Arab Bank has been a customer of Misys for over 20 years, running Misys Equation across its network. The Islamic version of Equation covers the full range commercial banking operations, including finance, finance origination, automated profit calculation and distribution.

"Misys and Arab Bank have a long history of successful partnership, and I am delighted we are enhancing that with our addition of the Islamic Equation service," comments Assistant Arab Bank CEO Michel Accad. "The Middle Eastern Shari'a banking industry is one of the world's great banking success stories and it is essential for Arab Bank to be supported by industry-leading technology as we continue to further expand our services across the region."

Roy Froud, Head of Sales for Middle East and Africa, Misys, adds, "We are witnessing a rapid growth of the Islamic finance market, with Shari'a compliant products more in demand than ever before. Misys is working at the forefront of developing new functionality that underpins banks' back office operations and this extension of our work with Arab Bank is an excellent example of how we add real value to our Islamic banking clients."

Arab Bank

Arab Bank was established in 1930, its founding mission has been the driving force behind the significant role it has played in advancing Arab Economies through financing strategic projects across the Middle East and North Africa (MENA). It was - and still is - a key player in facilitating Pan-Arab trade and in connecting the world to MENA markets

After eight decades, Arab Bank, headquartered in Jordan, maintains a leading global network and enjoys a prominent position in the MENA region centers such as Dubai, Manama and Doha and key international financial centers such as London, Zurich, Frankfurt, New York, Singapore and Sydney.

With the world's largest Arab Banking branch network and a global team of high caliber professionals, Arab Bank is uniquely positioned to be a partner of choice for MENA and global expertise.

Arab Bank Group is one of the largest banking institutions in MENA. At end of June 2008, its shareholders' equity base reached USD 7.7 billion, and a total Assets of USD 47.1 billion, and a pre-tax and provisions profit of USD 616.8 million

About Misys plc

Misys plc (LSE: MSY), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.

In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys is a market leader, serving more than 100,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries.

We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.

Misys: Experience, Solutions, Results Contact us today, visit: http://www.misys.com

(1) Financial Times, London, June 23 2008

For further information please contact Edward Taylor Global Head of Public Relations Misys Solutions for Banking +44(0)20-3320-5530 edward.taylor@misys.com Sebastian Mathews Financial Dynamics +44(0)207-269-7158 sebastian.mathews@fd.com

Misys plc

For further information please contact: Edward Taylor, Global Head of Public Relations, Misys Solutions for Banking, +44(0)20-3320-5530, edward.taylor@misys.com; Sebastian Mathews, Financial Dynamics, +44(0)207-269-7158, sebastian.mathews@fd.com

SST Expands 1.8V Serial Flash Product Portfolio to Support Emerging Design Challenges in Shrinking Portable Electronic DevicesAddition of Low-Power, Small Size 4-Mbit SPI Serial Flash Device Improves Performance, Reliability and Battery Life of Handheld Products

SUNNYVALE, Calif., Aug. 11 /PRNewswire-FirstCall/ -- SST (Silicon Storage Technology, Inc.) , a leader in flash memory technology, today announced the SST25WF040 device, the company's newest addition to its widely adopted 1.8V 25WF Series SPI serial flash memory family. The 4-Mbit, small form factor SST25WF040 is ideal for battery-powered, space- and height- constrained mobile applications where performance, reliability and low-power consumption are crucial to product success. The SST25WF040 continues SST's commitment to provide the industry with innovative flash memory technology that addresses the unique design requirements of the high-volume portable electronics market.

The SST25WF040 extends all the benefits of serial flash technology, including reductions in chipset pin counts, board space, power consumption and cost, to a wider range of battery-powered, small form factor wireless electronics. SST is the only company to offer a full 1.8V serial flash product portfolio with densities ranging from 512 Kbit to 4 Mbit.

The SST25WF040 has a full voltage range from 1.65V to 1.95V for read and write operations and a fast read speed of 40 MHz. The maximum active power consumption for both read and write operations is significantly less than that of the lowest power 3V products currently on the market. Active read currents are 4 mA (typical at 40 MHz), standby currents are only 2 microamps (typical) and maximum write currents are 10 mA for both program and erase operations. With this performance, the 25WF Series offers the lowest voltage and lowest standby current consumption in the industry for SPI serial flash. Customers utilizing the SST25WF040 will increase the battery life in their portable applications and will be able to add more content and features into their mobile systems.

The SST25WF040 is rated for industrial temperatures (-40 degrees to +85 degrees Celsius) and offers 100,000 read/write cycles minimum per memory block for high-endurance applications. The device is available in an industry-standard SOIC package with other smaller package options available later this year. In addition, the device is offered as Known Good Die (KGD).

According to Leon Wong, business unit director, Memory Products Group, SST, "Consumers want ever smaller handheld devices with longer battery life. This presents a challenge for design engineers who are trying to meet size and power reductions while still improving product performance and functionality. SST has upheld its commitment by providing serial flash memory solutions that meet this demand and shall continue to innovate to address market requirements."

Pricing and Availability

The SST25WF040 is currently available in volume production. Pricing for the device is $1.15 each in 10K unit quantities. All products in the 25WF Series are lead free (non Pb) and RoHS compliant.

About Silicon Storage Technology, Inc.

Headquartered in Sunnyvale, California, SST designs, manufactures and markets a diversified range of memory and non-memory products for high volume applications in the digital consumer, networking, wireless communications and Internet computing markets. Leveraging its proprietary, patented SuperFlash technology, SST is a leading provider of nonvolatile memory solutions with product families that include various densities of high functionality flash memory components and flash mass storage products. The Company also offers its SuperFlash technology for embedded applications through its broad network of world-class manufacturing partners and technology licensees, including TSMC, which offers it under its trademark Emb-FLASH. SST's non-memory products include NAND controller-based products, smart card ICs and modules, flash microcontrollers and radio frequency ICs and modules. Further information on SST can be found on the company's Web site at http://www.sst.com/.

Forward-Looking Statements

Except for the historical information contained herein, this news release contains forward-looking statements regarding memory and non-memory market conditions, SST's future financial performance, the performance of new products, growth opportunities, SST's licensing business, SST's ability to diversify its business, the transition of SST's products to smaller geometrics, SST's ability to bring new products to market and shareholder returns, all of which involve risks and uncertainties. These risks may include timely development, acceptance and pricing of new products, the terms, conditions and revenue recognition issues associated with licensees' royalty payments, the impact of competitive products and pricing, and general economic conditions as they affect SST's customers, as well as other risks detailed from time to time in the SST's SEC reports, including the Annual Report on Form 10-K for the year ended December 31, 2007 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2008. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, SST disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

For more information about SST and the company's comprehensive list of product offerings, please call 1-888/SST-CHIP. Information can also be requested via email to literature@sst.com or through SST's Web site at http://www.sst.com/. SST's head office is located at 1171 Sonora Court, Sunnyvale, Calif.; telephone: 408/735-9110; fax: 408/735-9036.

The SST logo and SuperFlash are registered trademarks of Silicon Storage Technology, Inc. All other trademarks or registered trademarks are the property of their respective holders.

For More Information Contact: Ricky Gradwohl Silicon Storage Technology, Inc. 408/720-6512 rgradwohl@sst.com Bob Nelson Tsantes Consulting Group 408/426-4905 bnelson@tsantes.com

Silicon Storage Technology, Inc.

CONTACT: Ricky Gradwohl, Silicon Storage Technology, Inc.,
+1-408-720-6512, rgradwohl@sst.com; or Bob Nelson of Tsantes Consulting Group,
+1-408-426-4905, bnelson@tsantes.com, for Silicon Storage Technology, Inc.

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

Elbit Vision Systems Announces Record Revenue for the Second Quarter of 2008Second quarter revenues reach $6.3 million, up 18% over last yearSecond Quarter 2008 Highlights - Record revenues reach $6.3 million, up 18% over second quarter, last year.- On track and reiterate 2008 revenue guidance; expecting revenues of $25- 26 million

QADIMA, Israel, Aug. 11 /PRNewswire-FirstCall/ -- Elbit Vision Systems Ltd. (BULLETIN BOARD: EVSNF) , a global leader in the field of automatic in-line optical web inspection and quality monitoring systems, today announced its consolidated financial results for the three month period ended June 30, 2008.

Second Quarter 2008 Results:

Revenues for the second quarter of 2008 totaled $6.3 million, an increase of 18% compared to $5.4 million for the second quarter of 2007.

Gross profit on a GAAP basis totaled $2.9 million, representing 46% of revenues, compared with $2.7 million or 50% of revenues for the second quarter of 2007. Gross profit on a non-GAAP basis for the second quarter of 2008 totaled $3 million, representing 48% of the Company's revenues, compared with $2.8 million in the second quarter of 2007, or 52% of revenues. Gross margins were below those of the same period a year ago due to the product mix, as well as increased material costs and a substantially weakened US dollar.

Operating loss on a GAAP basis was $172 thousand compared with an operating income of $381 thousand in the second quarter of 2007. Operating profit on a non-GAAP basis for the second quarter of 2008 totaled $29 thousand, compared with $598 thousand in the second quarter of 2007. Operating expenses in the quarter increased primarily due the decrease in the value of the Company's reporting currency, the US dollar, against the Israeli shekel in which a significant portion of the Company's expenses are generated.

Net loss on a GAAP basis for the second quarter of 2008 was $557 thousand, compared to a net loss of $14 thousand in the second quarter of 2007. Net loss per basic share on a GAAP basis was $0.011. Net loss on a non-GAAP basis for the second quarter of 2008 was $356 thousand, compared to a net profit of $318 thousand in the second quarter of 2007. Net loss per basic share on a non-GAAP basis was $0.007.

EBITDA for the second quarter of 2008 totaled $75 thousand, compared to $642 thousand in the second quarter of 2007.

David Gal, Chairman and CEO of EVS commented, "Our second quarter revenues grew in line with our expectations, and we saw strong demand particularly for ultrasonic solutions. However, our expenses this quarter were higher than our original expectations due to a number of factors beyond our control. These included the continued weakening of the US dollar against the Israeli Shekel, as well as higher material costs. As I had planned and discussed last quarter, we have now taken a number of steps to reduce our expenses, and as we move into the third quarter and beyond, we expect to realize a lower expense level."

"Looking ahead and based on our current backlog and pipeline, we are on target and maintain our expectations of revenues between $25-26 million for the year. We do expect to return to operating profitability, and expect to reach an operating margin by year-end of around 8 percent."

Conference Call

Management will be hosting a conference today, August 11, 2008, at 9am Eastern Time. On the call, management will review and discuss the results, and will be available to answer investor questions.

To participate, please call one of the following teleconferencing numbers. Please begin placing your calls a few minutes before the conference call commences.

US Dial-in Number: 1 866 345 5855 UK Dial-in Number: 0 800 404 8418 ISRAEL Dial-in Number: 03 918 0688 INTERNATIONAL Dial-in Number: +972 3 918 0688

At: 9:00am Eastern Time, 6:00am Pacific Time, 4:00pm Israel Time, 2pm UK time

For those unable to listen to the live call, a replay of the call will be available from three days after the call from a link in the investor relations section of the Company's website.

Use of Non- GAAP Financial Measures

EVS believes that both non-GAAP financial measures are better principal indicators of the operating and financial performance of its business. The non-GAAP numbers exclude mainly the non-cash equity-based compensation charges recorded in accordance with SFAS 123R as well as associated with purchase price allocation charges. Please see below for more details.

About Elbit Vision Systems Ltd. (EVS)

EVS offers a broad portfolio of automatic State-of-the-Art Visual and Ultrasonic Inspection Systems for both in-line and off-line applications, and quality monitoring systems used to improve product quality, safety, and increase production efficiency. EVS' systems are used by over 600 customers, many of which are leading global companies. The headquarters, manufacturing and R&D of EVS are all located in Israel. A worldwide Sales and Service network supports markets as well as systems already installed, in Asia, Europe, Africa, Australia and the Americas.

This press release and other releases are available on http://www.evs-sm.com/ Safe Harbor Statement

This press release contains forward-looking statements. Such statements are subject to certain risks and uncertainties, such as market acceptance of new products and our ability to execute production on orders, which could cause actual results to differ materially from those in the statements included in this press release. Although EVS believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. EVS disclaims any intention or obligation to update or revise any forward- looking statements, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. EVS undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.

Use of Non-GAAP financial measures

Reconciliation between results on a GAAP and Non-GAAP basis is provided in a table immediately following the Condensed Interim Consolidated Statements of operations. Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude amortization of acquired intangible assets. The purpose of such adjustments is to give an indication of our performance exclusive of non- GAAP charges and other items that are considered by management to be outside of our core operating results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. We believe that these non- GAAP measures help investors to understand our current and future performance, especially as our two most recent acquisitions have resulted in amortization and non-cash items that have had a material impact on our GAAP profits. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and non-GAAP basis is provided in a table immediately following the consolidated statements of operations.

EVS uses EBITDA as a non-GAAP financial performance measurement. EBITDA is calculated by adding back to net income interest, taxes, depreciation, amortization. EBITDA is provided to investors to complement results provided in accordance with GAAP, as management believes the measure helps illustrate underlying operating trends in the Company's business and uses the measure to establish internal budgets and goals, manage the business and evaluate performance. EBITDA should not be considered in isolation or as a substitute for comparable measures calculated and presented in accordance with GAAP. A reconciliation of EBITDA to GAAP measures is included in the financial tables accompanying this press release.

Company Contact Information: Investor Relations Contacts: Yaron Menashe, CFO CCGK Investor Relations Tel: +972 9 8661 601 Kenny Green / Ehud Helft yaron@evs-sm.com Tel: 1 646 201 9246 info@gkir.com FINANCIAL TABLES FOLLOW ELBIT VISION SYSTEMS LTD. CONDENSED CONSOLIDATED BALANCE SHEET AT JUNE 30, 2008 IN U.S. DOLLARS Jun-30 Dec-31 2008 2007 2007 U.S. dollars in thousands (except per share data) Assets CURRENT ASSETS: Cash and cash equivalents 337 368 2,189 Restricted deposit 581 771 540 Accounts receivable: Trade 5,878 3,939 4,738 Other 1,090 958 1,428 Inventories 5,823 4,905 5,299 Total current assets 13,709 10,941 14,194 LONG-TERM RECEIVABLES: Severance pay fund 1,844 1,495 1,623 Other long-term receivables 244 658 231 Total long-term receivables 2,088 2,153 1,854 PROPERTY, PLANT AND EQUIPMENT - net of accumulated depreciation and amortization 452 564 490 OTHER ASSETS - net of accumulated amortization: Goodwill 3,673 3,529 3,529 Other intangible assets 3,115 3,763 3,439 6,788 7,292 6,968 Total assets 23,037 20,950 23,506 Jun-30 Dec-31 2008 2007 2007 U.S. dollars in thousands (except per share data) Liabilities and shareholders' equity CURRENT LIABILITIES: Credit from banks 5,658 6,021 4,967 Current maturities of loan from Related Parties - 442 - Accounts payable: Trade 3,634 2,847 3,220 Deferred revenues 766 1,357 2,082 Other 2,782 3,686 2,629 Total current liabilities 12,840 14,353 12,898 LONG-TERM LIABILITIES: Loans and other liabilities (net of current maturities) 867 - 1,000 Loans from Related Parties(net of current maturities) - 566 - Accrued severance pay 2,278 1,809 2,008 Total long-term liabilities 3,145 2,375 3,008 Total liabilities 15,985 16,728 15,906 SHAREHOLDERS' EQUITY 7,052 4,222 7,600 Total liabilities and shareholders' equity 23,037 20,950 23,506 6 months ended 3 months ended year ended Jun-30 Jun-30 December 31, 2008 2007 2008 2007 2007 U.S. dollars in thousands (except per share data) REVENUES 12,394 10,419 6,316 5,366 21,863 COST OF REVENUES 6,629 5,376 3,395 2,679 11,308 GROSS PROFIT 5,765 5,043 2,921 2,687 10,555 RESEARCH AND DEVELOPMENT EXPENSES - net 2,200 1,359 1,110 734 3,313 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES: Marketing and selling 2,865 2,272 1,548 1,181 4,885 General and administrative 881 676 435 391 1,338 OPERATING INCOME (LOSS) (181) 736 (172) 381 1,019 FINANCIAL EXPENSES - net (492) (684) (353) (333) (1,081) WRITE OFF OF DISCOUNT ON CONVERTIBLE LOAN ASSOCIATED WITH BENEFICIAL CONVERSION FEATURE - - - - (1,047) OTHER EXPENSES - net (31) (65) (31) (64) (230) LOSS BEFORE TAXES ON INCOME (704) (13) (556) (16) (1,339) TAXES ON INCOME 8 1 (2) 3 LOSS FOR THE PERIOD (712) (13) (557) (14) (1,342) LOSS PER SHARE BASIC (0.014) (0.011) (0.034) LOSS PER SHARE DILUTED (0.014) (0.011) (0.034) WEIGHTED AVERAGE NUMBER OF SHARES USED IN COMPUTATION OF LOSS PER SHARE: BASIC (IN THOUSANDS) 50,951 30,534 50,982 31,552 39,393 DILUTED (IN THOUSANDS) 50,951 30,534 50,982 31,552 39,393 Reconciliation Table of Non-GAAP Measures U.S. dollars in thousands Three months ended Year ended June 30, December 31, 2008 2007 2007 Gross income as reported $2,921 $2,687 $10,555 Non GAAP adjustment: Depreciation and amortization 124 124 496 Equity-based compensation charges 7 6 38 Non-GAAP Gross income $3,052 $2,817 $11,089 Three months ended Year ended June 30, December 31, 2008 2007 2007 Operating income (loss) as reported $(172) $381 $1,019 Non GAAP adjustment: Depreciation and amortization 167 167 668 Equity-based compensation charges 34 50 216 Non-GAAP Operating income $29 $598 $1,903 Three months ended Year ended June 30, December 31, 2008 2007 2007 Net loss as reported $(557) $(14) $(1,342) Depreciation and amortization 167 167 668 Equity-based compensation charges 34 82 287 Write off of discount on convertible loan associated with beneficial conversion feature - 83 1,213 Non-GAAP Net income (loss) $(356) $318 $826 Three months ended Year ended June 30, December 31, 2008 2007 2007 Net loss as reported $(557) $(14) $(1,342) Non GAAP adjustment: Financial expenses, net 353 218 844 Taxes on income 1 -2 3 Depreciation and amortization 213 211 891 Equity-based compensation charges 34 82 287 Other expenses, net 31 64 230 Write off of discount on convertible loan associated with beneficial conversion feature - 83 1,213 EBITDA $75 $642 $2,126

Elbit Vision Systems Ltd.

CONTACT: Yaron Menashe, CFO, +972 9 8661 601, yaron@evs-sm.com; or
Investors, Kenny Green or Ehud Helft, both of CCGK Investor Relations,
+1-646-201-9246, info@gkir.com

Web site: http://www.evs-sm.com/

Extreme Networks Announces Tender Offer To Repurchase $100 Million of Stock

SANTA CLARA, Calif., Aug. 11 /PRNewswire-FirstCall/ -- Extreme Networks, Inc. today announced its intention to commence a "modified Dutch auction" tender offer to purchase $100 million worth of its common stock at a price per share not less than $3.30 and not greater than $3.70. Extreme Networks(R) intends to commence the stock tender offer today, August 11, 2008, and expects the stock tender offer to expire at 5:00 p.m. New York time on September 12, 2008, unless extended. The maximum number of shares proposed to be purchased in the stock tender offer represents approximately 26% percent of Extreme Networks' currently outstanding common stock. Extreme Networks will fund the offer from available cash on hand.

Goldman, Sachs & Co. will serve as dealer manager for the stock tender offer. MacKenzie Partners, Inc. will serve as information agent and Mellon Investor Services LLC will serve as the depositary.

Gordon Stitt, Chairman of the Board of Directors, commented: "The Board believes that this offer is an opportunity to increase the long-term value of our stock for our stockholders, while at the same time providing stockholders who wish to tender some or all of their shares a way to do so efficiently."

A "modified Dutch auction" allows stockholders to indicate how many shares and at what price within Extreme Networks' specified range they wish to tender. Based on the number of shares tendered and the price specified by the tendering stockholders, Extreme Networks will determine the lowest price per share within the range that will enable it to purchase $100 million worth of its shares, or such lesser dollar value of shares as are properly tendered. At the minimum price of $3.30 per share, Extreme Networks would purchase a maximum of 30,303,030 shares, while at the maximum price of $3.70 per share, Extreme Networks would purchase a maximum of 27,027,027 shares. Extreme Networks will not purchase shares below a price stipulated by a stockholder, and in some cases, may actually purchase shares at prices above a stockholder's indication under the terms of the "modified Dutch auction." The stock tender offer is not contingent upon a minimum number of shares being tendered but is conditioned on a number of events as described in the offer to purchase. Specific instructions and a complete explanation of the terms and conditions of the stock tender offer are contained in the Offer to Purchase and related materials that will be mailed to stockholders of record as of August 7, 2008 beginning on August 11, 2008.

Neither of Extreme Networks' management nor any of its members of the Board of Directors, executive officers, the dealer manager, the information agent or the depositary is making any recommendation to stockholders as to whether to tender or refrain from tendering their shares in the stock tender offer. Stockholders must decide how many shares they will tender, if any, and the price within the stated range at which they will tender their shares. Stockholders should consult their financial and tax advisors in making this decision.

This press release is for informational purposes only, and is not an offer to purchase or the solicitation of an offer to sell any shares of Extreme Networks stock. The solicitation of offers to purchase shares of Extreme Networks stock will be made only pursuant to the tender offer documents, including the Offer to Purchase and the related Letter of Transmittal that Extreme Networks intends to distribute to holders of its common stock and file with the Securities and Exchange Commission ("SEC") today.

HOLDERS OF COMMON STOCK ARE URGED TO READ THE TENDER OFFER STATEMENT (INCLUDING THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED TENDER OFFER DOCUMENTS) WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ON THE STOCK TENDER OFFER.

Holders of common stock will be able to obtain these documents as they become available free of charge at the SEC's website at http://www.sec.gov/, or at the SEC's public reference room located at 100 F Street, N.E., Washington, DC 20549. Please call the SEC at 1-800-SEC-0330 for further information about the public reference room. In addition, holders of common stock may also request copies of the Tender Offer Statement, the Offer to Purchase, related Letter of Transmittal and other filed tender offer documents free of charge by contacting MacKenzie Partners, Inc., the Information Agent, by telephone at (800) 322-2885 (toll-free), or in writing to MacKenzie Partners, Inc., 105 Madison Avenue, New York, NY 10016.

Extreme Networks, Inc.

Extreme Networks designs, builds, and installs Ethernet infrastructure solutions that help solve the toughest business communications challenges. The company's commitment to open networking sets us apart from the alternatives by delivering meaningful insight and unprecedented control to applications and services. Extreme Networks believes that openness is the best foundation for growth, freedom, flexibility and choice. The company is focused on enterprises and service providers who demand high performance, converged networks that support voice, video and data over a wired and wireless infrastructure.

Extreme Networks is either a registered trademark or trademark of Extreme Networks, Inc. in the United States and other countries.

Forward-Looking Statements

This press release contains forward-looking statements, including, among others, statements regarding Extreme Networks' proposed stock tender offer, including the anticipated commencement date of the offer, the expected number of shares Extreme Networks expects to repurchase in the offer, the price range within which it will repurchase such shares and the expected expiration date of the offer. Actual results may differ materially from those expressed in the forward-looking statements due to a number of factors, including delays in effecting the tender, a significant decline in the price of Extreme Networks' common stock, unanticipated cash requirements and prolonged adverse conditions in the U.S. economy and Extreme Networks' industry. More information about potential factors that could affect Extreme Networks is included in our filings with the SEC, including, without limitation, under the captions: "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors."

Extreme Networks, Inc.

CONTACT: Extreme Networks, Inc., Investor Relations, +1-408-579-3030,
investor_relations@extremenetworks.com, or Public Relations, +1-408-579-3483,
gcross@extremenetworks.com

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

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