Lender Processing Services, Inc. Announces Quarterly Dividend

JACKSONVILLE, Fla., Oct. 22 /PRNewswire-FirstCall/ -- Lender Processing Services, Inc. , a leading provider of integrated technology and services to the mortgage industry, announced a regular quarterly dividend of $0.10 per common share. The dividend is payable December 23, 2008, to stockholders of record as of the close of business December 9, 2008.

About Lender Processing Services

Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage industry. LPS offers solutions that span the mortgage continuum, including lead generation, origination, workflow automation (Desktop), servicing, portfolio retention and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages are serviced using LPS' Mortgage Servicing Package (MSP). In fact, many of the nation's top servicers rely on MSP, including seven of the top 10 and 16 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit http://www.lpsvcs.com/ .

Forward Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10 and other filings with the Securities and Exchange Commission.

Lender Processing Services, Inc.

CONTACT: Investors: Parag Bhansali, +1-904-854-8640, Media: Michelle
Kersch, +1-904-854-5043, both of Lender Processing Services, Inc.

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

SST Announces Release Date of its Third Quarter 2008 Financial Results

SUNNYVALE, Calif., Oct. 22 /PRNewswire-FirstCall/ -- SST (Silicon Storage Technology, Inc.), a leader in flash memory technology, will announce third quarter 2008 financial results on Wednesday, Oct. 29, 2008. A press release will be transmitted to the news media immediately following the close of the market on Oct. 29th and the company will hold a conference call to discuss the results and provide a general business update at 1:30 p.m. PT. Those wishing to participate in the conference call should dial (800) 288-8975, international participants please dial (651) 224-7497, using the password "SST" at approximately 1:20 p.m. PT. A replay of the call will be available for one week by dialing (800) 475-6701, international participants dial (320) 365-3844, using the access code 963617. A webcast replay of the conference call will be available for one year on the company's Web site at http://www.sst.com/events.

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/.

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.

Silicon Storage Technology, Inc.

CONTACT: Leslie Green of Green Communications Consulting, LLC,
+1-650-312-9060, for Silicon Storage Technology, Inc.

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

Mercury Computer Systems Reports First Quarter Fiscal 2009 Revenues of $49.1 MillionOperating cash flow of $2.6 millionBook-to-bill ratio of 1.01GAAP losses per share from continuing operations of $(0.05)Non-GAAP earnings per share from continuing operations of $0.07

CHELMSFORD, Mass., Oct. 22 /PRNewswire-FirstCall/ -- Mercury Computer Systems, Inc. reported results for its first quarter of fiscal 2009, which ended September 30, 2008.

In the first quarter, Mercury sold the assets and intellectual property (IP) of its subsidiary, SolMap Pharmaceuticals, formerly referred to as Mercury's Biotech Group, to FORMA Therapeutics. In addition, during the fourth quarter of fiscal 2008, Mercury's subsidiary Visage Imaging sold its Embedded Systems and Professional Services (ES/PS) business. All historical financial statements have been adjusted to reflect these businesses as discontinued operations.

First quarter revenues were $49.1 million, an increase of $1.1 million from the prior year's first quarter.

First quarter GAAP operating losses were $(1.3) million, a $1.6 million improvement as compared to a GAAP operating loss of $(2.9) million in the first quarter of fiscal 2008. First quarter GAAP net losses from continuing operations were $(1.0) million. GAAP diluted losses per share from continuing operations were $(0.05) for the first quarter. First quarter GAAP operating losses include $3.4 million in charges, consisting of $1.4 million in stock-based compensation costs, $1.4 million in amortization of acquired intangible assets, and $0.6 million in restructuring expenses. Excluding the impact of these charges, first quarter non-GAAP operating income was $2.0 million. First quarter non-GAAP net income from continuing operations was $1.5 million. Non-GAAP diluted earnings per share from continuing operations were $0.07 for the first quarter.

Cash flows from operating activities were a net inflow of $2.6 million in the first quarter. Cash, cash equivalents, and marketable securities as of September 30, 2008 were $167.0 million, an increase of $0.5 million from June 30, 2008.

"We have set out to make fiscal 2009 a pivotal transition year for Mercury, and the first quarter was a strong start," said Mark Aslett, President and CEO of Mercury Computer Systems, Inc. "Mercury met or exceeded the majority of our internal financial and operational targets, including our first quarter guidance. Our efforts to improve the underlying operations of the business enhanced our profitability and increased our cash flow. At the same time, we made further progress in strengthening our core ACS defense business and divesting unprofitable and non-core businesses. These achievements give us confidence that Mercury will exit fiscal 2009 as a more focused and profitable business, and an enterprise with broader opportunities for growth."

Backlog

The Company's total backlog at the end of the first quarter was $87.8 million, a $0.7 million sequential increase from the fourth quarter of last fiscal year, and a $3.6 million increase from the same quarter last year as reported. Of the current total backlog, $72.5 million represents shipments scheduled over the next 12 months. The book-to-bill ratio was 1.01 for the quarter.

Revenues by Operating Unit

Advanced Computing Solutions (ACS) -- Revenues for the quarter from ACS were $44.6 million, representing 91% of the Company's total revenues. Approximately 74% of ACS's revenue for the quarter related to defense business as compared to approximately 64% in the same quarter last year.

Visage Imaging (Visage) -- Revenues for the quarter from Visage were $2.0 million.

Visualization Sciences Group (VSG) -- Revenues for the quarter from VSG were $2.3 million.

Emerging Businesses -- The results of this segment primarily consist of Mercury's wholly-owned subsidiary Mercury Federal Systems, Inc. (MFS). During the first quarter, MFS secured $4.0 million in bookings and recorded $0.3 million in revenues.

Business Outlook

This section presents our current expectations and estimates, given current visibility, on our business outlook for the upcoming fiscal quarter. It is possible that actual performance will differ materially from the estimates given -- either on the upside or on the downside. Investors should consider all of the risks, including those listed in the Safe Harbor Statement below, with respect to these estimates, and make themselves aware of the risk factors that may impact the Company's actual performance.

For the second quarter of fiscal year 2009, revenues are currently expected to be in the range of approximately $47 million to $49 million. At this range, GAAP losses per share are currently expected to be in the range of a loss of $(0.22) to a loss of $(0.14). Excluding the impact of stock-based compensation costs, amortization of acquired intangible assets and the difference between expected GAAP and non-GAAP tax rates, second quarter fiscal year 2009 non-GAAP earnings (losses) per share are currently expected to range from a loss of $(0.05) to breakeven.

Recent Highlights

July -- Mercury announced that the Mercury PowerBlock(TM) 50 received the Editor's Choice Award from Military Embedded Systems magazine for its "maximum horsepower in a minimum-sized system envelope." The PowerBlock 50 is an ultra-compact, ruggedized computer optimized for real-time image, sensor, and signal processing for small platforms in the 6- to 10-pound range. The PowerBlock 50 was selected from hundreds of new product introductions that ranged from hardware and software to connectors and cable assemblies.

July -- Mercury announced it received the coveted STAR Supplier Award from Lockheed Martin. The Company was recognized for exceptional quality and performance in the Electronic Systems Business Area. The award, which signifies exemplary performance in providing goods or services that contribute to the success of the Lockheed Martin mission, marks a decade in the ongoing alliance between Lockheed and Mercury to deliver advanced computing solutions to the embedded defense systems market.

July -- Mercury announced the retirement of James "Jay" R. Bertelli as a Mercury employee and its Executive Chairman of the Board. Mr. Bertelli has assumed the role of Non-Executive Chairman of the Board until the Company's 2008 annual shareholder meeting to be held later this year, after which he will retire from the Board of Directors. Mr. Bertelli has agreed to enter into a non-compete agreement and to provide consulting services to Mercury.

July -- Mercury announced that the Echotek(R) Series advanced RF and mixed-signal solutions deliver unsurpassed tuning speeds and best-in-class signal integrity for a growing range of network-centric applications. The Echotek Series RF and mixed-signal solutions enable a comprehensive range of narrowband, wideband, and ultra-wideband tuning and receiving capabilities for the most challenging communications intelligence (COMINT), electronic intelligence (ELINT), electronic warfare (EW), radar, and other sensor-based applications.

August -- Mercury announced it received a comprehensive design win from a top-tier defense prime contractor for a homeland security application. The contract calls for extensive algorithm optimization and acceleration, Cell Broadband Engine(TM) (BE) processor-based products, and services that include system engineering mapping, application development training, and installation and configuration support. Mercury was chosen because of the unique ability to optimize a full spectrum of processor architectures in order to provide the highest performance and best value for the customer's technology investment.

September -- Mercury introduced the Converged Sensor Network(TM) (CSN(TM)) Architecture and the SigmaNET(TM) VXS-based sensor networking solution for the next-generation battlefield. By combining the agility of cluster computing with sensors at the tactical edge, the CSN Architecture supports a more robust sensor computing and networking environment, providing the flexibility to get information quickly to authorized users via industry-standard networking. The SigmaNET solution of hardware and software enhancements, which enables sensor networking and converged management in existing embedded systems, was delivered to a leading defense customer for the processing and dissemination of sensor data including electronic imaging, video, and weapons systems.

September -- Visage Imaging(R) announced it has partnered with the American College of Radiology to provide its Visage(R) CS Thin Client Server, which will be used for interactive radiology education on Coronary CT Angiography and the Dartmouth PET/CT Course. The Visage CS (Client Server) system provides true thin client, 3D-based image interpretation, post-processing, and image distribution for CT, MR, PET, PET-CT, SPECT, and SPECT-CT imaging, enabling virtually "instant" access to all data anytime, anywhere inside or outside the hospital or imaging center.

October -- Mercury announced that it closed SolMap Pharmaceuticals, its biotech venture, and sold the assets and IP to FORMA Therapeutics of Cambridge, Massachusetts. FORMA Therapeutics was recently funded by the Novartis Option Fund, a venture capital arm of Novartis AG, one of the world's largest pharmaceutical firms. FORMA will integrate SolMap's assets and IP into its transformative chemistry and biology platforms to unlock the best targets and pathways that genomic medicine has revealed. The transaction was completed on September 30, 2008.

Conference Call Information

Mercury will host a conference call on Wednesday, October 22, 2008 at 5:00 p.m. EDT to discuss the first quarter 2009 results and review the financial and business outlook for the remainder of the year.

To listen to the conference call, dial (800) 289-0548 in the USA and Canada, and (913) 312-6678 for all other countries. The conference code number is 3495048. Please call five to ten minutes prior to the scheduled start time. This call will also be broadcast live over the web at http://www.mc.com/investor under Financial Events.

A replay of the call by telephone will be available from approximately 8:00 p.m. EDT on Wednesday, October 22 through 12:00 a.m. EDT on Friday, October 31. To access the replay, dial (888) 203-1112 in the USA and Canada, and (719) 457-0820 for all other countries. Enter access code 3495048. A replay of the webcast of the call will be available for an extended period of time on the Financial Events page of the Company's website at http://www.mc.com/investor.

Use of Non-GAAP (Generally Accepted Accounting Principles) Financial Measures

In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides non-GAAP financial measures adjusted to exclude certain non-cash and other specified charges, which the Company believes are useful to help investors better understand its past financial performance and prospects for the future. However, the presentation of non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company's underlying operational results and trends, and management uses these measures along with their corresponding GAAP financial measures to manage the Company's business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. A reconciliation of GAAP to non-GAAP financial results discussed in this press release is contained in the attached exhibits.

Mercury Computer Systems, Inc. -- Where Challenges Drive Innovation(TM)

Mercury Computer Systems (http://www.mc.com/, NASDAQ: MRCY) provides embedded computing systems and software that combine image, signal, and sensor processing with information management for data-intensive applications. With deep expertise in optimizing algorithms and software and in leveraging industry-standard technologies, we work closely with customers to architect comprehensive, purpose-built solutions that capture, process, and present data for defense electronics, homeland security, and other computationally challenging commercial markets. Our dedication to performance excellence and collaborative innovation continues a 25-year history in enabling customers to gain the competitive advantage they need to stay at the forefront of the markets they serve.

Mercury is based in Chelmsford, Massachusetts, and serves customers worldwide through a broad network of direct sales offices, subsidiaries, and distributors.

Forward-Looking Safe Harbor Statement

This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to fiscal 2009 business performance and beyond. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, general economic and business conditions, including unforeseen weakness in the Company's markets, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, continued funding of defense programs, the timing of such funding, changes in the U.S. Government's interpretation of federal procurement rules and regulations, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, and difficulties in retaining key customers. These risks and uncertainties also include such additional risk factors as are discussed in the Company's recent filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended June 30, 2008. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

Contact: Robert Hult, CFO, Mercury Computer Systems, Inc. 978-967-1990

Cell Broadband Engine is a trademark of Sony Computer Entertainment Inc. Challenges Drive Innovation, Converged Sensor Network, CSN, PowerBlock and SigmaNET are trademarks; and Echotek, Visage and Visage Imaging are registered trademarks of Mercury Computer Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.

MERCURY COMPUTER SYSTEMS, INC. UNAUDITED CONSOLIDATED BALANCE SHEETS (in thousands) September 30, June 30, 2008 2008 Assets Current assets: Cash and cash equivalents $60,926 $59,045 Marketable securities 60,027 60,205 Accounts receivable, net 26,988 33,109 Inventory 21,458 24,694 Prepaid expenses and other current assets 5,350 8,752 Current assets of discontinued operations - 38 Total current assets 174,749 185,843 Marketable securities 46,037 47,231 Property and equipment, net 10,466 11,054 Goodwill 79,256 80,956 Acquired intangible assets, net 6,503 7,488 Deferred tax assets, net 30 - Other non-current assets 5,714 5,818 Non-current assets of discontinued operations - 160 Total assets $322,755 $338,550 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $9,950 $15,112 Accrued expenses 8,535 9,817 Accrued compensation 10,053 11,781 Notes payable and current capital lease obligation 125,370 125,301 Income taxes payable 1,022 1,383 Deferred revenues and customer advances 12,275 16,240 Current liabilities of discontinued operations 206 124 Total current liabilities 167,411 179,758 Notes payable and non-current capital lease obligations 14 18 Accrued compensation 1,447 1,709 Deferred tax liabilities, net 285 285 Deferred gain on sale-leaseback 8,738 9,027 Other long-term liabilities 1,290 1,241 Total liabilities 179,185 192,038 Shareholders' equity: Common stock 221 220 Additional paid-in capital 101,618 100,268 Retained earnings 39,271 40,575 Accumulated other comprehensive income 2,460 5,449 Total shareholders' equity 143,570 146,512 Total liabilities and shareholders' equity $322,755 $338,550 MERCURY COMPUTER SYSTEMS, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) Three months ended September 30, 2008 2007 Net revenues $49,099 $48,008 Cost of revenues (1) 20,817 16,790 Gross profit 28,282 31,218 Operating expenses: Selling, general and administrative (1) 15,809 19,109 Research and development (1) 11,883 13,131 Amortization of acquired intangible assets 1,375 1,799 Restructuring 558 55 Total operating expenses 29,625 34,094 Loss from operations (1,343) (2,876) Interest income 997 2,108 Interest expense (838) (845) Other income (expense), net 152 286 Loss from continuing operations before income taxes (1,032) (1,327) Income tax expense - 1,840 Net loss from continuing operations (1,032) (3,167) Loss from discontinued operations, net of tax (743) (141) Gain on disposal of discontinued operations, net of tax 471 - Net loss $(1,304) $(3,308) Basic (loss) income per share: Net loss from continuing operations $(0.05) $(0.15) Loss from discontinued operations (0.03) - Gain on disposal of discontinued operations 0.02 - Net loss per share $(0.06) $(0.15) Diluted (loss) income per share: Net loss from continuing operations $(0.05) $(0.15) Loss from discontinued operations (0.03) - Gain on disposal of discontinued operations 0.02 - Net loss per share $(0.06) $(0.15) Weighted average shares outstanding: Basic 22,009 21,474 Diluted 22,009 21,474 (1) Includes stock-based compensation expense, which was allocated as follows: Cost of revenues $69 $99 Selling, general and administrative $933 $1,892 Research and development $422 $644 MERCURY COMPUTER SYSTEMS, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Three months ended September 30, 2008 2007 Cash flows from operating activities: Net loss $(1,304) $(3,308) Depreciation and amortization 3,026 3,987 Other and non-cash items, net 631 2,438 Changes in operating assets and liabilities 283 845 Net cash provided by operating activities 2,636 3,962 Cash flows from investing activities: Sales (Purchases) of marketable securities, net 109 (1,364) Purchases of property and equipment, net (1,111) (766) Acquisitions, net of cash acquired, and acquired intangible assets - (2,400) Net cash used in investing activities (1,002) (4,530) Cash flows from financing activities: Proceeds from employee stock option and purchase plans 166 445 Repurchases of common stock (239) (278) Payments of principal under notes payable and capital leases (42) (30) Gross tax windfall from stock- based compensation 358 223 Net cash provided by financing activities 243 360 Effect of exchange rate changes on cash and cash equivalents 4 160 Net increase (decrease) in cash and cash equivalents 1,881 (48) Cash and cash equivalents at beginning of period 59,045 51,293 Cash and cash equivalents at end of period $60,926 $51,245

UNAUDITED SUPPLEMENTAL INFORMATION - RECONCILIATION OF GAAP TO NON-GAAP MEASURES

The Company provides non-GAAP operating income (losses), non-GAAP net income (losses) from continuing operations, and non-GAAP basic and diluted earnings (losses) from continuing operations per share as supplemental measures to GAAP regarding the Company's operational performance. These financial measures exclude the impact of certain items and, therefore, have not been calculated in accordance with GAAP. The adjustments to these non-GAAP financial measures, and the basis for such adjustments, are outlined below:

Stock-based compensation expense. The Company incurs expense related to stock-based compensation included in its GAAP presentation of cost of revenues, selling, general and administrative expense and research and development expense. Although stock-based compensation is an expense of the Company and viewed as a form of compensation, these expenses vary in amount from period to period, and are affected by market forces that are difficult to predict and are not within the control of management, such as the market price and volatility of the Company's shares, risk-free interest rates and the expected term and forfeiture rates of the awards. In accordance with SFAS No. 123R, stock-based compensation expense is calculated as of the grant date of each stock-based award, and generally cannot be changed or influenced by management after the grant date. Management believes that exclusion of these expenses allows comparisons of operating results that are consistent with periods prior to the Company's adoption of SFAS No. 123R, and allows comparisons of the Company's operating results to those of other companies, both public, private or foreign, that either are not required to adopt SFAS No. 123R, or disclose non-GAAP financial measures that exclude stock-based compensation.

Amortization of acquired intangible assets. The Company incurs amortization of intangibles related to various acquisitions it has made in recent years. These intangible assets are valued at the time of acquisition, are then amortized over a period of several years after the acquisition and generally cannot be changed or influenced by management after the acquisition. Management believes that exclusion of these expenses allows comparisons of operating results that are consistent over time for both our newly-acquired and long-held businesses.

Restructuring. The Company incurs restructuring charges in connection with management's decisions to undertake certain actions to realign operating expenses through workforce reductions and the closure of certain Company facilities, businesses and product lines. Management believes this item is outside the normal operations of the Company's business and is not indicative of ongoing operating results, and that exclusion of this expense allows comparisons of operating results that are consistent across past, present and future periods.

Tax valuation allowance. The Company records a tax valuation allowance as an expense item when it is "more likely than not" per FAS 109 criteria that the Company will not reap the benefits of the deferred tax assets (future deductible amounts derived from temporary differences between book and taxable income). Management believes these allowances are not indicative of ongoing operating results, and that exclusion of this expense item allows comparisons of operating results that are consistent across past, present and future periods.

Adjustments for related tax impact. Finally, for purposes of calculating non-GAAP net income (losses) from continuing operations and non-GAAP basic and diluted earnings (losses) from continuing operations per share, management adjusts the (benefit) provision for income taxes to tax effect the non-GAAP adjustments described above as they have a significant impact on the Company's income tax (benefit) provision.

Management excludes the above-described items and their related tax impact from its internal forecasts and models when establishing internal operating budgets, supplementing the financial results and forecasts reported to the Company's board of directors, determining the portion of bonus compensation for executive officers and other key employees based on operating performance, evaluating short-term and long-term operating trends in the Company's operations, and allocating resources to various initiatives and operational requirements. The Company believes that these non-GAAP financial adjustments are useful to investors because they allow investors to evaluate the effectiveness of the methodology and information used by management in its financial and operational decision-making.

These non-GAAP financial measures have not been prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. These non-GAAP financial measures may not be computed in the same manner as similarly titled measures used by other companies. The Company expects to continue to incur expenses similar to the non-GAAP financial adjustments described above, and investors should not infer from the Company's presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

The following tables reconcile the non-GAAP financial measures to their most directly comparable GAAP financial measures.

(in thousands, except per share data) Three months ended September 30, 2008 2007 Loss from operations $(1,343) $(2,876) Stock-based compensation 1,424 2,635 Amortization of acquired intangible assets 1,375 1,799 Restructuring 558 55 Non-GAAP income from operations $2,014 $1,613 Three months ended September 30, 2008 2007 Net loss from continuing operations $(1,032) $(3,167) Stock-based compensation 1,424 2,635 Amortization of acquired intangible assets 1,375 1,799 Restructuring 558 55 Tax valuation allowance and tax impact of excluding the above items (790) 891 Non-GAAP net income from continuing operations $1,535 $2,213 Non-GAAP net income from continuing operations per share: Basic $0.07 $0.10 Diluted $0.07 $0.10 Non-GAAP weighted average shares outstanding: Basic 22,009 21,474 Diluted 22,283 21,763 MERCURY COMPUTER SYSTEMS, INC. RECONCILIATION OF FORWARD-LOOKING GUIDANCE RANGE Quarter ending December 31, 2008 RANGE Income (Loss) Income (Loss) Per Share Per Share - Diluted - Diluted GAAP expectation $(0.22) $(0.14) Adjustment to exclude stock-based compensation 0.11 0.10 Adjustment to exclude amortization of acquired intangible assets 0.04 0.04 Adjustment for tax impact 0.02 - Non-GAAP expectation $(0.05) $0.00

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20081013/NEM013LOGO Mercury Computer Systems, Inc.

CONTACT: Robert Hult, CFO of Mercury Computer Systems, Inc.,
+1-978-967-1990

Web site: http://www.mc.com/
http://www.mc.com/investor

GSI Commerce Reports Fiscal 2008 Third Quarter Operating Results

KING OF PRUSSIA, Pa., Oct. 22 /PRNewswire-FirstCall/ -- GSI Commerce Inc. today announced its financial results for its fiscal 2008 third quarter ended Sept. 27, 2008.

Fiscal 2008 Third Quarter Compared to Fiscal 2007 Third Quarter -- Net revenues increased 36 percent to $186.8 million from $137.3 million. -- Non-GAAP net revenues increased 66 percent to $102.3 million from $61.7 million. -- Loss from operations was $16.5 million compared to $11.5 million. -- Non-GAAP income from operations was $5.8 million compared to a loss of $0.2 million. -- Net loss was $12.8 million or $0.27 per share compared to $6.1 million or $0.13 per share.

The definitions of non-GAAP net revenues and non-GAAP income from operations, and a discussion of the importance of these non-GAAP financial metrics to GSI's business, can be found under "Non-GAAP Financial Measures" provided later in this news release.

"Our third quarter performance was strong," said Michael G. Rubin, chairman, president and CEO of GSI. "Net revenues increased 36 percent and non-GAAP net revenues increased 66 percent and we exceeded the high end of our guidance for operating loss and non-GAAP income from operations by $2.0 million and $1.3 million, respectively. We achieved excellent results through the first nine months of the year and we believe we are on track to meet our bottom line guidance for the year, albeit with slightly lower, but still strong revenue growth, offset by better than planned operating margins," said Rubin.

Key Events Since July 23 -- GSI signed a definitive agreement to acquire Innotrac Corporation . GSI will acquire Innotrac for $52.0 million, consisting of cash of $22.0 million and shares of GSI common stock valued at $30.0 million. Innotrac has net debt of $9.9 million, making the aggregate value of the transaction $61.9 million subject to adjustment under certain circumstances. The acquisition is expected to close during the first half of 2009. -- GSI signed a multiyear, e-commerce agreement and recently launched the first online business for Big Lots, the largest broadline closeout retailer in the U.S. GSI is providing e-commerce technology, fulfillment and customer care for Big Lots new e-commerce offering which features a "Deal of the Day" format (http://www.biglots.com/dealoftheday). -- GSI launched a Web store for Calvin Klein, Inc. (http://www.calvinklein.com/), a wholly owned subsidiary of Phillips-Van Heusen Corporation. -- GSI launched international Web stores for Casual Male and Rochester Big & Tall brands in several European countries. -- GSI launched customer service operations for the online business of Belk Inc., a regional department store chain. -- GSI extended its multiyear e-commerce agreement with Dick's Sporting Goods into 2024. The deal included designating gsi interactive(sm) as agency of record and a renewal of services with e-Dialog. -- GSI extended its multiyear e-commerce agreement with Aeropostale through 2018. The agreement included meaningful marketing service components including e-mail. Fiscal Year 2008 and Fourth Quarter Guidance

The following forward-looking statements reflect GSI's expectations as of Oct. 22, 2008. Given the potential changes in general economic conditions and consumer spending, the growth rate of e-commerce and various other risk factors discussed in our forward-looking statements disclosure and in our public reports, actual results may differ materially.

Fiscal Year 2008 Guidance The company provides the following guidance for fiscal year 2008: -- Net revenues are expected to be in a range of $950.0 million to $985.0 million. -- Loss from operations is expected to be in a range of $6.5 million to $9.5 million. -- Non-GAAP income from operations is expected to be in a range of $80.0 million to $83.0 million. (a) -- Capital expenditures are estimated to be approximately $65.0 million, and include approximately $57.0 million related to the base business and approximately $8.0 million of acquisition-related integration capital expenditures.

(a) The following is a reconciliation of GAAP loss from operations to non-GAAP income from operations: add to projected GAAP loss from operations estimated depreciation and amortization of $67.0 million (inclusive of amortization from acquisition-related intangibles of $13.7 million), estimated stock-based compensation of $17.5 million, and acquisition-related integration costs of approximately $5.0 million.

Fiscal 2008 Fourth Quarter Guidance

The company provides the following guidance for fiscal 2008 fourth quarter:

-- Net revenues are expected to be in a range of $375.0 million to $410.0 million. -- Income from operations is expected to be in a range of $42.0 million to $45.0 million. -- Non-GAAP income from operations is expected to be in a range of $67.0 million to $70.0 million.(a)

(a) The following is a reconciliation of GAAP income from operations to non-GAAP income from operations: add to projected GAAP income from operations estimated depreciation and amortization of $17.5 million (inclusive of amortization from acquisition-related intangibles of $4.0 million), estimated stock-based compensation of $5.2 million, and acquisition-related integration costs of approximately $2.2 million.

Conference Call Today

GSI has scheduled a conference call for 4:45 p.m. EDT today to discuss the company's 2008 fiscal third quarter operating results and its 2008 fiscal year and fourth quarter guidance.

Live Conference Access: -- Phone -- Dial 1-888-713-4214, passcode 25359809 by 4:30 p.m. EDT on Oct. 22. For quicker access to the audio conference call the day of the event, investors can pre-register for the conference call by going to: https://www.theconferencingservice.com/prereg/key.process?key=PUY9348D 8. -- Web -- Go to http://www.gsicommerce.com/, and click on the Webcast tab provided on the home page, or go to http://www.streetevents.com/, where the conference call will be broadcast live. Please allow at least 15 minutes to register, download and install any necessary audio software. Conference Replays: -- Web -- Go to http://www.gsicommerce.com/, and click on the Webcast tab provided on the home page. Access will remain available through Nov. 24. Non-GAAP Financial Measures

GSI's consolidated financial statements are prepared and presented in accordance with GAAP. To supplement our consolidated financial statements, in this release and on the conference call, we use the non-GAAP financial measures of non-GAAP net revenues, non-GAAP income from operations and free cash flow. We also discuss certain ratios that use those measures. The non-GAAP measures and ratios presented are not intended to be considered in isolation of, as a substitute for, or superior to our GAAP financial information. We have included reconciliations later in this release of the non-GAAP measures to the nearest GAAP measure.

We use these non-GAAP financial measures for financial and operational decision making and as a means to evaluate our performance. In our opinion, these non-GAAP measures provide meaningful supplemental information regarding our performance. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate management's internal comparisons to our historical performance and liquidity as well as to the operating results of comparable companies. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making and (2) they are used by institutional investors and the analyst community to help them analyze the health of our business.

Non-GAAP net revenues. We define non-GAAP net revenues as net revenues minus cost of revenues from product sales and marketing expenses. Marketing expenses principally include client revenue share expenses, net advertising and promotional expenses, subsidized shipping and handling expenses, and catalog expenses. We consider non-GAAP net revenues to be a useful metric for management and investors because (1) it provides a metric for our investors to understand and analyze our company and (2) it provides investors with one of the primary metrics used by the company for evaluation and decision making purposes. We and many of our investors view us as a technology and business services company. Since most technology and business service companies generate their revenues from service fees and do not have product sales, we believe that by subtracting cost of revenues from product sales and marketing expenses from our net revenues from product sales, the company and investors will be better able to assess our revenues on a basis that more closely approximates the net revenues of other technology and business services companies. Further, management uses this metric for evaluating the performance of our business, making operating decisions and for budgeting purposes.

Non-GAAP income from operations. We define non-GAAP income from operations as income from operations excluding stock-based compensation, depreciation and amortization expenses and acquisition-related integration expenses. We consider non-GAAP income from operations to be a useful metric for management and investors because it excludes certain non-cash and non-operating items. Because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use when valuing equity awards under SFAS 123R, we believe that viewing income from operations excluding stock-based compensation expense allows investors to make meaningful comparisons between our operating performance and those of other businesses. Because we are growing rapidly and operate in an emerging and rapidly changing industry, we believe that our level of capital expenditures and consequently the level of depreciation and amortization expense relative to our revenues could be meaningfully greater today than it will be over time. As a result, we believe it is useful supplemental information to view income from operations excluding depreciation and amortization expense as it provides a potential indicator of the future operating margin potential of the business. We believe the exclusion of acquisition-related integration expenses permits evaluation and a comparison of results for on-going business operations, and it is on this basis that management internally assesses the company's performance.

Free cash flow. We define free cash flow as net cash provided by operating activities minus cash paid for fixed assets, including capitalized software development. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the acquisition of property and equipment, including information technology infrastructure, can be used for strategic opportunities, including investing in the business, making strategic acquisitions and strengthening the balance sheet. Analysis of free cash flow also facilitates management's comparisons of our operating results to the operating results of comparable companies. A limitation of using free cash flow as a means for evaluating our performance is that free cash flow reflects changes in working capital which is impacted by short-term changes in cash flow and the seasonality of our business which may not be indicative of long-term performance. Another limitation of free cash flow is that it excludes fixed assets purchased and placed in service, but not paid for during the applicable period. Our management compensates for this limitation by providing supplemental information about capital expenditures accrued, but not paid for during the applicable periods on the face of the cash flow statement in our Forms 10-K and 10-Q.

About GSI Commerce

GSI Commerce(R) (http://www.gsicommerce.com/) is a leading provider of services that enable e-commerce, multichannel retailing and interactive marketing for large, business-to-consumer (b2c) enterprises in the U.S. and internationally. We deliver customized e-commerce solutions through an e-commerce platform, which is comprised of technology, fulfillment and customer care. We offer each of the platform's components on a modular basis, or as part of an integrated, end-to-end solution. We also offer a full suite of interactive marketing services through two divisions, gsi interactive(sm) and e-Dialog (http://www.e-dialog.com/).

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements made in this release, other than statements of historical fact, are forward-looking statements. The words "look forward to," "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "would," "should," "could," "guidance," "potential," "opportunity," "continue," "project," "forecast," "confident," "prospects," "schedule," "designed," "future," "discussions," "if," "objective," and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business of GSI Commerce. 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 GSI Commerce's business, financial condition and operating results include the effects of changes in the economy, consumer spending, the financial markets and the industries in which GSI Commerce and its clients operate, changes affecting the Internet and e-commerce, the ability of GSI Commerce to develop and maintain relationships with strategic clients and suppliers and the timing of the establishment, extension or termination of its relationships with strategic clients, the ability of GSI Commerce to timely and successfully develop, maintain and protect its technology, confidential and proprietary information and product and service offerings and execute operationally, the ability of GSI Commerce to attract and retain qualified personnel, the ability of GSI Commerce to successfully close and integrate pending acquisitions of other business, and the performance of acquired businesses. More information about potential factors that could affect GSI Commerce can be found in its most recent Form 10-K, Form 10-Q and other reports and statements filed by GSI Commerce with the SEC. GSI Commerce expressly disclaims any intent or obligation to update these forward-looking statements.

Contact: GSI Commerce, Inc. Corporate Marketing 610.491.7474 Fax: 610.265.2866 news@gsicommerce.com GSI COMMERCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) December 29, September 27, 2007 2008 ASSETS Current assets: Cash and cash equivalents $231,511 $45,053 Accounts receivable, less allowance for doubtful accounts of $1,833 and $1,980 64,285 66,352 Inventory 47,293 53,907 Deferred tax assets 14,114 12,391 Prepaid expenses and other current assets 12,459 13,096 Total current assets 369,662 190,799 Property and equipment, net 156,774 167,617 Goodwill 82,757 173,868 Intangible assets, net of accumulated amortization of $4,972 and $14,600 16,476 50,902 Long-term deferred tax assets 45,234 67,591 Other assets, net of accumulated amortization of $14,545 and $16,764 22,737 21,412 Total assets $693,640 $672,189 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $85,667 $58,228 Accrued expenses 98,179 76,946 Deferred revenue 17,588 23,221 Current portion - long-term debt 2,406 4,790 Total current liabilities 203,840 163,185 Convertible notes 207,500 207,500 Long-term debt 27,245 73,640 Deferred revenue and other long-term liabilities 5,634 6,929 Total liabilities 444,219 451,254 Commitments and contingencies Stockholders' equity: Preferred stock, $0.01 par value, 5,000,000 shares authorized; 0 shares issued and outstanding as of December 29, 2007 and September 27, 2008 - - Common stock, $0.01 par value, 90,000,000 shares authorized; 46,847,919 and 47,557,405 shares issued as of December 29, 2007 and September 27, 2008, respectively; 46,847,716 and 47,557,202 shares outstanding as of December 29, 2007 and September 27, 2008, respectively 468 475 Additional paid in capital 366,400 379,221 Accumulated other comprehensive loss (156) (106) Accumulated deficit (117,291) (158,655) Total stockholders' equity 249,421 220,935 Total liabilities and stockholders' equity $693,640 $672,189 GSI COMMERCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended September 29, September 27, September 29, September 27, 2007 2008 2007 2008 Revenues: Net revenues from product sales $91,298 $102,139 $289,053 $332,314 Service fee revenues 45,987 84,655 125,780 243,232 Net revenues 137,285 186,794 414,833 575,546 Costs and expenses: Cost of revenues from product sales 65,258 73,089 207,843 236,950 Marketing 10,329 11,412 32,259 40,141 Account management and operations, inclusive of $774, $1,373, $2,084 and $3,818 of stock-based compensation 36,992 58,732 100,543 175,339 Product development, inclusive of $395, $705, $1,026 and $1,788 of stock-based compensation 15,925 25,736 44,737 73,356 General and administrative, inclusive of $1,006, $2,473, $2,708 and $6,721 of stock-based compensation 11,198 17,487 31,014 51,820 Depreciation and amortization 9,129 16,868 23,744 49,503 Total costs and expenses 148,831 203,324 440,140 627,109 Loss from operations (11,546) (16,530) (25,307) (51,563) Other (income) expense: Interest expense 2,075 2,594 3,842 7,118 Interest income (3,342) (190) (7,025) (1,397) Other expense, net 28 480 51 833 Total other (income) expense (1,239) 2,884 (3,132) 6,554 Loss before income taxes (10,307) (19,414) (22,175) (58,117) Benefit for income taxes (4,221) (6,575) (8,711) (16,753) Net loss $(6,086) $(12,839) $(13,464) $(41,364) Basic and diluted loss per share $(0.13) $(0.27) $(0.29) $(0.88) Weighted average shares outstanding - basic and diluted 46,567 47,488 46,320 47,259 GSI COMMERCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Nine Months Ended September 29, September 27, 2007 2008 Cash Flows from Operating Activities: Net loss $(13,464) $(41,364) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 22,560 39,805 Amortization 1,184 9,698 Stock-based compensation 5,818 12,327 Foreign currency exchange rate remeasurement - 841 Loss on impairment of investment and sales of marketable securities 80 - Loss (gain) on disposal of equipment 36 (359) Deferred income taxes (8,783) (14,783) Changes in operating assets and liabilities: Accounts receivable, net 9,063 5,623 Inventory (5,930) (6,614) Prepaid expenses and other current assets (5,228) 510 Other assets, net 995 924 Accounts payable and accrued expenses (45,056) (54,937) Deferred revenue 3,052 6,064 Net cash used in operating activities (35,673) (42,265) Cash Flows from Investing Activities: Payments for acquisitions of businesses, net of cash acquired (92,889) (145,001) Cash paid for property and equipment, including internal use software (40,301) (46,007) Proceeds from disposition of assets - 1,500 Purchases of marketable securities (263,640) - Sales of marketable securities 304,051 - Net cash used in investing activities (92,779) (189,508) Cash Flows from Financing Activities: Proceeds from convertible notes 150,000 - Borrowings on revolving credit loan - 60,000 Repayments on revolving credit loan - (20,000) Proceeds from capital lease financing - 7,901 Debt issuance costs paid (5,080) (561) Repayments of capital lease obligations (342) (2,142) Repayments of mortgage note (135) (152) Proceeds from exercise of common stock options 6,544 1,342 Net cash provided by financing activities 150,987 46,388 Effect of exchange rate changes on cash and cash equivalents 26 (1,073) Net increase (decrease) in cash and cash equivalents 22,561 (186,458) Cash and cash equivalents, beginning of period 71,382 231,511 Cash and cash equivalents, end of period $93,943 $45,053 GSI COMMERCE, INC. AND SUBSIDIARIES NON-GAAP INCOME FROM OPERATIONS AND RECONCILIATION TO GAAP RESULTS (In thousands) (Unaudited) Three Months Ended Nine Months Ended September 29, September 27, September 29, September 27, 2007 2008 2007 2008 Reconciliation of GAAP loss from operations to non-GAAP income from operations: GAAP loss from operations $(11,546) $(16,530) $(25,307) $(51,563) Acquisition related integration expenses 29 867 29 2,939 Stock-based compensation 2,175 4,551 5,818 12,327 Depreciation and amortization (1) 9,129 16,868 23,744 49,503 Non-GAAP (loss) income from operations $(213) $5,756 $4,284 $13,206 (1) Includes amortization expense of acquisition related intangibles of $3,843 and $9,628 for the three- and nine-months ended September 27, 2008 and $377 and $1,151 for the three- and nine-months ended September 29, 2007. GSI COMMERCE, INC. AND SUBSIDIARIES NON-GAAP NET REVENUES AND RECONCILIATION TO GAAP RESULTS (In thousands) (Unaudited) Three Months Ended Nine Months Ended September 29, September 27, September 29, September 27, 2007 2008 2007 2008 Reconciliation of GAAP net revenues to non-GAAP net revenues: GAAP net revenues $137,285 $186,794 $414,833 $575,546 Cost of revenues from product sales (65,258) (73,089) (207,843) (236,950) Marketing expenses (10,329) (11,412) (32,259) (40,141) Non-GAAP net revenues $61,698 $102,293 $174,731 $298,455 GSI COMMERCE, INC. AND SUBSIDIARIES FREE CASH FLOW AND RECONCILIATION TO GAAP OPERATING CASH FLOW (In thousands) (Unaudited) Twelve Months Ended September 29, September 27, 2007 2008 Reconciliation of GAAP operating cash flow to free cash flow: GAAP cash flow from operating activities $56,240 $51,542 Cash paid for fixed assets, including capitalized software development (55,967) (59,902) Free cash flow $273 $(8,360) GSI COMMERCE, INC. AND SUBSIDIARIES RESULTS BY SEGMENT (In thousands) (Unaudited) Three Months Ended September 29, 2007 Interactive E-Commerce Marketing Intersegment Services Services Eliminations Consolidated Net revenues $134,121 $7,127 $(3,963) $137,285 Costs and expenses before depreciation, amortization and stock-based compensation expense 135,621 5,869 (3,963) 137,527 Operating (loss) income before depreciation, amortization and stock-based compensation expense $(1,500) $1,258 $- $(242) Three Months Ended September 27, 2008 Interactive E-Commerce Marketing Intersegment Services Services Eliminations Consolidated Net revenues $168,097 $23,132 $(4,435) $186,794 Costs and expenses before depreciation, amortization and stock-based compensation expense 166,082 20,258 (4,435) 181,905 Operating income before depreciation, amortization and stock-based compensation expense $2,015 $2,874 $- $4,889 Nine Months Ended September 29, 2007 Interactive E-Commerce Marketing Intersegment Services Services Eliminations Consolidated Net revenues $407,065 $18,040 $(10,272) $414,833 Costs and expenses before depreciation, amortization and stock-based compensation expense 404,808 16,042 (10,272) 410,578 Operating income before depreciation, amortization and stock-based compensation expense $2,257 $1,998 $- $4,255 Nine Months Ended September 27, 2008 Interactive E-Commerce Marketing Intersegment Services Services Eliminations Consolidated Net revenues $531,632 $56,746 $(12,832) $575,546 Costs and expenses before depreciation, amortization and stock-based compensation expense 528,834 49,277 (12,832) 565,279 Operating income before depreciation, amortization and stock-based compensation expense $2,798 $7,469 $- $10,267

GSI Commerce, Inc.

CONTACT: GSI Commerce, Inc. Corporate Marketing, +1-610-491-7474, Fax,
+1-610-265-2866, news@gsicommerce.com

Web Site: http://www.e-dialog.com/
http://www.gsicommerce.com/
https://www.theconferencingservice.com/prereg/key.process?key=PUY9348D8

Seagate Technology Reports Fiscal First Quarter 2009 Results

SCOTTS VALLEY, Calif., Oct. 22 /PRNewswire-FirstCall/ -- Seagate Technology today reported disk drive unit shipments of 48 million, revenue of $3.03 billion, net income of $60 million, and diluted net income per share of $0.12 for the quarter ended October 3, 2008. Net income and diluted net income per share for the quarter includes $20 million of purchased intangibles amortization and other charges associated with Seagate's acquisitions, and charges related to restructuring activities of $51 million. The net impact of these items is a $71 million reduction to net income and a decrease of approximately $0.14 per share on a diluted basis. Of the $51 million related to restructuring activities, approximately $28 million was accelerated depreciation recorded in cost of revenue and $23 million was for severance and other closing costs recorded in restructuring.

"This quarter was marked by Seagate's measurable progress toward regaining our longstanding product leadership position across all markets," said Bill Watkins, Seagate chief executive officer. "With a strong balance sheet, Seagate is operating from a position of strength. Looking forward, in the face of a challenging macro-economic environment, we will focus on cost controls and inventory management while continuing to invest in the key technologies that will solidify product leadership. As a result, we remain highly confident in our ability to convert the long-term growth in demand for storage into superior value for our shareholders."

Additional information relating to the financial results for the first fiscal quarter of 2009 can be found online at seagate.com.

Business Outlook

For the December quarter, Seagate expects to report revenue of $2.85 - $3.05 billion, and diluted net income per share of $0.12 - $0.16. Included in the December quarter outlook is the following:

-- Approximately $20 million for purchased intangibles amortization and other charges associated with recent acquisitions -- Approximately $7 million for restructuring charges related to previously announced restructuring events -- Approximately $7 million for accelerated depreciation expenses related to the planned closing of the Pittsburgh research facility (R&D)

The net impact of these items is an estimated reduction to net income of approximately $34 million, and an aggregate decrease in diluted earnings per share by approximately $0.07. The outlook does not include the impact of any future mergers, acquisitions, dispositions or other business combinations, stock repurchases or potential new restructuring activities the company may undertake during the quarter.

Current uncertainty in global economic conditions makes it particularly difficult to predict product demand and other related matters and makes it more likely that Seagate's actual results could differ materially from current expectations.

Dividend

The company has declared a quarterly dividend of $0.12 per share to be paid on or before November 21, 2008 to all common shareholders of record as of November 7, 2008.

Conference Call

Seagate will hold a conference call to review the fiscal first quarter results at 2:00 p.m. Pacific Time today. The conference call can be accessed online at seagate.com or by phone as follows:

USA: (877) 223-6202 International: (706) 679-3742 Conference ID: 64605834 Replay

A replay will be available beginning today at 6:00 p.m. Pacific Time through October 29 at 8:59 p.m. Pacific Time. The replay can be accessed from seagate.com or by phone as follows:

USA: (800) 642-1687 International: (706) 645-9291 Conference ID: 64605834 About Seagate

Seagate is the worldwide leader in the design, manufacture and marketing of hard disk drives and storage solutions, providing products for a wide-range of applications, including Enterprise, Desktop, Mobile Computing, Consumer Electronics and Branded Solutions. Seagate's business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, with the goal of being the time-to-market leader in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world's growing demand for information storage. Seagate can be found around the globe and at http://www.seagate.com/.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements related to the company's future operating and financial performance, including expected revenue, net income and diluted earnings per share, price and product competition, customer demand for our products, and general market conditions. These forward-looking statements are based on information available to Seagate as of the date of this press release. Current expectations, forecasts and assumptions involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks, uncertainties, and other factors may be beyond the company's control. In particular, uncertainty in global economic conditions pose a risk to the overall economy as consumers and businesses may defer purchases in response to tighter credit and negative financial news. Such risks and uncertainties also include the impact of the variable demand and the aggressive pricing environment for disk drives, particularly in view of current business and economic conditions; dependence on Seagate's ability to successfully qualify, manufacture and sell its disk drive products in increasing volumes on a cost-effective basis and with acceptable quality, particularly the new disk drive products with lower cost structures; the impact of competitive product announcements and possible excess industry supply with respect to particular disk drive products; our ability to achieve projected cost savings in connection with our announced restructuring plans; and market conditions and alternative cash imperatives that could impact our ability to repurchase additional common shares pursuant to Seagate's previously announced share repurchase program. Information concerning risk, uncertainties and other factors that could cause results to differ materially from those projected in the forward-looking statements is contained in the company's Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on August 13, 2008, which statements are incorporated into this press release by reference. These forward-looking statements should not be relied upon as representing the company's views as of any subsequent date and Seagate undertakes no obligation to update forward- looking statements to reflect events or circumstances after the date they were made.

SEAGATE TECHNOLOGY CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited) October 3, June 27, 2008 2008 (a) ASSETS Cash and cash equivalents $1,005 $990 Short-term investments 148 151 Accounts receivable, net 1,393 1,410 Inventories 909 945 Deferred income taxes 272 274 Other current assets 640 502 Total Current Assets 4,367 4,272 Property, equipment and leasehold improvements, net 2,509 2,464 Goodwill 2,349 2,352 Other intangible assets 94 111 Deferred income taxes 616 616 Other assets, net 234 305 Total Assets $10,169 $10,120 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable $1,930 $1,652 Accrued employee compensation 153 440 Accrued expenses, other 838 825 Accrued income taxes 6 10 Current portion of long-term debt 660 360 Total Current Liabilities 3,587 3,287 Accrued warranty 231 219 Other non-current liabilities 336 358 Long-term debt, less current portion 1,370 1,670 Total Liabilities 5,524 5,534 Shareholders' Equity 4,645 4,586 Total Liabilities and Shareholders' Equity $10,169 $10,120 (a) The information in this column was derived from the Company's audited consolidated balance sheet as of June 27, 2008. SEAGATE TECHNOLOGY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data) (Unaudited) For the Three Months Ended October 3, September 28, 2008 2007 Revenue $3,033 $3,285 Cost of revenue 2,508 2,476 Product development 260 242 Marketing and administrative 148 153 Amortization of intangibles 14 13 Restructuring, net 23 5 Total operating expenses 2,953 2,889 Income from operations 80 396 Interest income 7 16 Interest expense (30) (32) Other, net (13) (5) Other income (expense), net (36) (21) Income before income taxes 44 375 Provision for (benefit from) income taxes (16) 20 Net income $60 $355 Net income per share: Basic $0.12 $0.67 Diluted 0.12 0.64 Number of shares used in per share calculations: Basic 485 531 Diluted 494 560 SEAGATE TECHNOLOGY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) For the Three Months Ended October 3, September 28, 2008 2007 OPERATING ACTIVITIES Net income $60 $355 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 253 205 Stock-based compensation 27 29 Deferred income taxes 2 8 Other non-cash operating activities, net (13) 7 Changes in operating assets and liabilities: Accounts receivable 16 (133) Inventories 36 31 Accounts payable 278 250 Accrued expenses, employee compensation and warranty (309) (2) Other assets and liabilities (46) 4 Net cash provided by operating activities 304 754 INVESTING ACTIVITIES Acquisition of property, equipment and leasehold improvements (280) (150) Purchases of short-term investments (90) (198) Maturities and sales of short-term investments 93 119 Proceeds from sale of investment in equity securities 10 - Acquisitions, net of cash acquired - (6) Other investing activities, net 2 (3) Net cash used in investing activities (265) (238) FINANCING ACTIVITIES Proceeds from exercise of employee stock options and employee stock purchase plan 35 62 Dividends to shareholders (59) (54) Repurchases of common shares - (249) Net cash used in financing activities (24) (241) Increase in cash and cash equivalents 15 275 Cash and cash equivalents at the beginning of the period 990 988 Cash and cash equivalents at the end of the period $1,005 $1,263

Seagate Technology

CONTACT: Media Relations, Brian Ziel, +1-831-439-5429,
brian.ziel@seagate.com, or Investor Relations, Rod Cooper, +1-831-439-2371,
rod.j.cooper@seagate.com, both of Seagate Technology

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

LSI Reports Third Quarter 2008 Results

MILPITAS, Calif., Oct. 22 /PRNewswire-FirstCall/ -- LSI Corporation today reported results for its third quarter ended September 28, 2008.

Third Quarter News Release Summary -- Third quarter 2008 revenues of $714 million -- Third quarter 2008 GAAP* net income of 2 cents per share -- Third quarter 2008 non-GAAP** net income of 14 cents per diluted share -- Third quarter operating cash flows of $56 million -- Cash and short-term investments of $1.2 billion Fourth Quarter 2008 Business Outlook -- Projected revenues of $670 million to $710 million -- GAAP* net (loss)/income in the range of ($0.07) to $0.03 per share -- Non-GAAP** net income in the range of 8 to 14 cents per diluted share * Generally Accepted Accounting Principles. ** Excludes goodwill impairment, stock-based compensation, amortization of acquisition-related intangibles, restructuring of operations and other items, net, purchase accounting effect on inventory, loss on write-down of debt/equity securities and acquired in-process research and development. It also excludes the income tax effect associated with the above mentioned items. GROWTH IN STORAGE SEMICONDUCTORS DRIVES SOLID QUARTERLY RESULTS

Third quarter 2008 revenues were $714 million, a 2% decrease year-over-year compared to $727 million reported in the third quarter of 2007, and up 3% sequentially compared to $692 million reported in the second quarter of 2008. Adjusting for the sale of the consumer and mobility businesses, third quarter revenues increased 14% year-over-year compared to the third quarter of 2007.

Third quarter 2008 GAAP* net income was $11 million or 2 cents per diluted share, compared to third quarter 2007 GAAP net loss of $141 million or 20 cents per share. Third quarter 2008 GAAP results compare to second quarter 2008 GAAP net loss of $14 million or 2 cents per share. Third quarter 2008 GAAP net income included a net charge of $83 million from special items, consisting primarily of $60.5 million of amortization of acquisition-related items, $16.9 million of stock-based compensation expense, $1.7 million in write-down of investments, and $1.6 million in net restructuring and other items.

Third quarter 2008 non-GAAP** net income was $94 million or 14 cents per diluted share, compared to third quarter 2007 non-GAAP net income of $44 million or 6 cents per share. Second quarter 2008 non-GAAP net income was $83 million or 13 cents per diluted share.

Cash and short-term investments totaled approximately $1.2 billion at quarter end.

"Healthy demand in the quarter for our HDD and SAN semiconductors provided a foundation for delivering solid results," said Abhi Talwalkar, LSI president and chief executive officer. "We are also pleased by our progress in securing new opportunities, with recently announced Tier 1 OEM wins for next-generation HDD, SSD and 6Gb/s SAS products.

"Although fourth quarter visibility is limited, we are confident that our strategic focus, continuing design win momentum and strong financial position leave us well positioned for the foreseeable future," added Talwalkar.

Bryon Look, LSI chief financial officer, said, "Significantly higher gross margins and continued focus on cost control contributed to third quarter EPS near the high end of our guidance range. Compared to the same quarter in 2007 we have grown revenue in our core businesses by 14% while significantly reducing quarterly operating expenses."

LSI Fourth Quarter 2008 Business Outlook GAAP* Special Items Non-GAAP** Revenue $670 million to $670 million to $710 million $710 million Gross Margin 38.5 - 41.5% $40 to $50 million 45.5 - 47.5% Operating Expenses $265 million to $235 million to $285 million $30 to $40 million $245 million Net Other Income ($2) million ($2) million Tax Approximately Approximately 8% $10 million Net (Loss)/Income Per Share ($0.07) to $0.03 ($0.11) to ($0.15) $0.08 to $0.14 Diluted Share Count 647 million 651 million

Capital spending is projected to be around $10 million in the fourth quarter and approximately $60 million in total for 2008.

Fourth quarter depreciation and software amortization is expected to be approximately $20 million.

LSI Conference Call Information

LSI will hold a conference call today at 2 p.m. PDT to discuss third quarter financial results and the fourth quarter 2008 business outlook. Internet users can access the conference call at http://www.lsi.com/webcast. Subsequent to the conference call, a replay will be available at the same web address.

Forward Looking Statements: This news release contains forward-looking statements that are based on the current opinions and estimates of management. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Factors that could cause LSI's actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to: our reliance on major customers and suppliers; our ability to keep up with rapid technological change; our ability to compete successfully in competitive markets; our ability to achieve anticipated synergies following our acquisition of Agere Systems; fluctuations in the timing and volumes of customer demand; the unavailability of appropriate levels of manufacturing capacity; our ability to successfully and timely transition our assembly and test operations to third parties; and general industry and market conditions. For additional information, see the documents filed by LSI with the Securities and Exchange Commission, and specifically the risk factors set forth in the company's most recent reports on Form 10-K and 10-Q. LSI disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

About LSI

LSI Corporation is a leading provider of innovative silicon, systems and software technologies that enable products which seamlessly bring people, information and digital content together. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage and Networking markets. More information is available at http://www.lsi.com/.

LSI CORPORATION Condensed Consolidated Balance Sheets (In millions) (Unaudited) September 28, June 29, December 31, Assets 2008 2008 2007 Current assets: Cash and short-term investments $1,173.9 $1,147.2 $1,397.6 Accounts receivable, net 401.1 359.3 406.4 Inventories 210.0 241.0 240.8 Prepaid expenses and other current assets 174.6 179.1 147.8 Total current assets 1,959.6 1,926.6 2,192.6 Property and equipment, net 234.0 240.2 229.7 Goodwill and other intangible assets, net 1,666.1 1,692.3 1,724.7 Other assets 265.8 268.8 249.4 Total assets $4,125.5 $4,127.9 $4,396.4 Liabilities and Stockholders' Equity Current liabilities $633.3 $683.5 $762.5 Long-term debt 715.6 716.4 718.0 Pension, tax and other liabilities 420.7 406.6 430.7 Total liabilities 1,769.6 1,806.5 1,911.2 Minority interest in subsidiary 0.3 0.3 0.2 Stockholders' equity: Common stock and additional paid- in capital 6,042.4 6,019.3 6,159.2 Accumulated deficit (3,754.4) (3,765.8) (3,738.5) Accumulated other comprehensive income 67.6 67.6 64.3 Total stockholders' equity 2,355.6 2,321.1 2,485.0 Total liabilities and stockholders' equity $4,125.5 $4,127.9 $4,396.4 LSI CORPORATION Consolidated Statements of Operations (GAAP) (In thousands, except per share amounts) (Unaudited) Three Months Ended September 28, June 29, September 30, 2008 2008 2007 Revenues $714,308 $692,063 $727,415 Cost of revenues 369,137 360,492 411,866 Purchase accounting effect on inventory - - - Amortization of acquisition related intangibles 45,502 44,103 64,860 Stock-based compensation expense 2,252 2,572 2,824 Total cost of revenues 416,891 407,167 479,550 Gross profit 297,417 284,896 247,865 Research and development 162,958 162,546 173,375 Stock-based compensation expense 6,593 7,569 8,916 Total research and development 169,551 170,115 182,291 Selling, general and administrative 80,720 80,473 88,769 Amortization of acquisition related intangibles 15,019 14,491 5,714 Stock-based compensation expense 8,005 9,506 10,035 Total selling, general and administrative 103,744 104,470 104,518 Restructuring of operations and other items, net 1,586 20,719 101,231 Acquired in-process research and development - - - Income/(loss) from operations 22,536 (10,408) (140,175) Interest expense (8,993) (8,959) (9,033) Interest income and other, net 8,028 8,220 11,808 Income/(loss) before income taxes 21,571 (11,147) (137,400) Provision for income taxes 10,200 2,500 3,200 Net income/(loss) $11,371 $(13,647) $(140,600) Net income/(loss) per share: Basic $0.02 $(0.02) $(0.20) Diluted $0.02 $(0.02) $(0.20) Shares used in computing per share amounts: Basic 643,849 639,872 715,733 Diluted 647,418 639,872 715,733 A reconciliation of net income/(loss) on the GAAP basis to non-GAAP net income is included below. LSI CORPORATION Consolidated Statements of Operations (GAAP) (In thousands, except per share amounts) (Unaudited) Nine Months Ended September 28, September 30, 2008 2007 Revenues $2,067,118 $1,862,769 Cost of revenues 1,086,507 1,071,143 Purchase accounting effect on inventory - 47,904 Amortization of acquisition related intangibles 131,860 141,455 Stock-based compensation expense 6,885 7,916 Total cost of revenues 1,225,252 1,268,418 Gross profit 841,866 594,351 Research and development 487,398 465,460 Stock-based compensation expense 21,985 22,611 Total research and development 509,383 488,071 Selling, general and administrative 238,901 243,296 Amortization of acquisition related intangibles 42,944 12,390 Stock-based compensation expense 25,422 25,245 Total selling, general and administrative 307,267 280,931 Restructuring of operations and other items, net 26,869 119,071 Acquired in-process research and development - 182,900 Income/(loss) from operations (1,653) (476,622) Interest expense (26,930) (21,972) Interest income and other, net 30,879 33,129 Income/(loss) before income taxes 2,296 (465,465) Provision for income taxes 18,200 23,156 Net income/(loss) $(15,904) $(488,621) Net income/(loss) per share: Basic $(0.02) $(0.78) Diluted $(0.02) $(0.78) Shares used in computing per share amounts: Basic 648,519 623,692 Diluted 648,519 623,692 A reconciliation of net income/(loss) on the GAAP basis to non-GAAP net income is included below. Three Months Ended Nine Months Ended Reconciliation of GAAP September September September September net income/(loss) to 28, June 29, 30, 28, 30, non-GAAP net income: 2008 2008 2007 2008 2007 GAAP net income/(loss) $11,371 $(13,647) $(140,600) $(15,904) $(488,621) Special items: a) Stock-based compensation expense - cost of revenues 2,252 2,572 2,824 6,885 7,916 b) Stock-based compensation expense - R&D 6,593 7,569 8,916 21,985 22,611 c) Stock-based compensation expense - SG&A 8,005 9,506 10,035 25,422 25,245 d) Amortization of acquisition related intangibles - cost of revenues 45,502 44,103 64,860 131,860 141,455 e) Amortization of acquisition related intangibles - SG&A 15,019 14,491 5,714 42,944 12,390 f) Purchase accounting effect on inventory - - - - 47,904 g) Restructuring of operations and other items, net 1,586 20,719 101,231 26,869 119,071 h) Acquired in- process research and development - - - - 182,900 i) Write-down of debt and equity securities 1,673 2,827 - 4,500 2,396 j) Income tax effect 2,024 (4,751) (8,916) (2,821) 979 Total special items 82,654 97,036 184,664 257,644 562,867 Non-GAAP net income $94,025 $83,389 $44,064 $241,740 $74,246 Non-GAAP net income per share: Basic $0.15 $0.13 $0.06 $0.37 $0.12 Diluted* $0.14 $0.13 $0.06 $0.37 $0.12 Shares used in computing non-GAAP per share amounts: Basic 643,849 639,872 715,733 648,519 623,692 Diluted 673,498 643,106 720,317 652,208 632,563 * In computing non-GAAP diluted earnings per share for the three month period ended September 28, 2008, net income was increased by $3,500 for interest, net of taxes, on the $350 million convertible notes considered dilutive common stock equivalents. Three Months Ended Nine Months Ended September September September September 28, June 29, 30, 28, 30, Reconciliation of GAAP to 2008 2008 2007 2008 2007 non-GAAP shares used in the calculation of diluted per share amounts: Diluted shares used in per-share calculation - GAAP 647,418 639,872 715,733 648,519 623,692 Dilutive stock awards - 3,234 4,584 3,689 8,871 Effect of $350 million convertible notes considered dilutive 26,080 - - - - Diluted shares used in per-share calculation - non-GAAP 673,498 643,106 720,317 652,208 632,563 LSI CORPORATION Consolidated Statement of Cash Flows (In thousands, except where noted) (Unaudited) Three Months Ended Nine Months Ended September June September September September 28, 29, 30, 28, 30, 2008 2008 2007 2008 2007 Operating activities: Net income/(loss) $11,371 $(13,647) $(140,600) $(15,904) $(488,621) Adjustments: Depreciation and amortization * 82,327 79,290 96,545 239,945 216,720 Stock-based compensation expense 16,850 19,647 21,775 54,292 55,772 Non-cash restructuring and other items 82 46 88,155 (3,163) 88,354 Acquired in- process research and development - - - - 182,900 Write-down of debt and equity securities 1,673 2,827 - 4,500 2,396 Loss/(gain) on sale of property and equipment, including assets held-for-sale 37 (11) (11) 14 (9,513) Non-cash foreign exchange loss/(gain) 1,939 (7,869) 7,109 6,988 3,221 Changes in deferred tax assets and liabilities 268 2,014 (1,327) 4,397 (6,797) Changes in assets and liabilities, net of assets acquired and liabilities assumed in business combinations: Accounts receivable, net (41,782) (27,253) (6,167) 5,237 143,998 Inventories 30,983 17,620 49,906 30,884 95,148 Prepaid expenses and other assets 18,784 (5,275) 1,197 9,192 35,061 Accounts payable (41,515) (11,376) (3,567) (92,323) (134,621) Accrued and other liabilities (24,604) (28,762) (14,202) (64,194) 658 Net cash provided by operating activities 56,413 27,251 98,813 179,865 184,676 Investing activities: Purchases of debt securities available-for- sale (51,969) (62,481) (31,851) (158,601) (154,087) Proceeds from maturities and sales of debt securities available-for- sale 38,516 42,299 118,897 131,719 493,029 Purchases of equity securities (5,000) - (7,500) (8,500) (10,500) Purchases of property, equipment and software (27,150) (32,625) (36,272) (95,005) (76,986) Proceeds from sale of property and equipment 150 4,917 5 11,400 13,790 Proceeds from sale of Consumer Group - - 22,555 - 22,555 Cash acquired from acquisition of Agere, net of acquisition costs - - - - 517,712 Acquisitions of other companies, net of cash acquired - (95,137) - (95,137) (52,079) Increase in non- current assets and deposits - (13,300) - (13,300) - Adjustment to goodwill acquired in a prior year for resolution of a pre-acquisition income tax contingency - - - 4,821 2,442 Net cash (used in)/provided by investing activities (45,453) (156,327) 65,834 (222,603) 755,876 Financing activities: Issuance of common stock 6,821 29,203 7,077 36,370 28,994 Purchase of common stock under repurchase programs - - (148,758) (229,231) (549,113) Net cash provided by/(used in) financing activities 6,821 29,203 (141,681) (192,861) (520,119) Effect of exchange rate changes on cash and cash equivalents (1,932) (944) 1,497 (1,060) 1,700 Increase/(decrease) in cash and cash equivalents 15,849 (100,817) 24,463 (236,659) 422,133 Cash and cash equivalents at beginning of period 769,061 869,878 725,470 1,021,569 327,800 Cash and cash equivalents at end of period $784,910 $769,061 $749,933 $784,910 $749,933 * Depreciation of fixed assets and amortization of intangible assets, software, capitalized intellectual property, premiums on short-term investments, debt issuance costs and accrued debt premium. LSI CORPORATION Selected Financial Information (GAAP) (In millions, except where noted) (Unaudited) Three Months Ended September June September 28, 29, 30, 2008 2008 2007 Semiconductor revenues $500.4 $462.0 $530.0 Storage Systems revenues $213.9 $230.1 $197.4 Total revenues $714.3 $692.1 $727.4 Percentage change in revenues- qtr./qtr. ( a ) 3.2% 4.7% 8.6% Percentage change in revenues- yr./yr. ( b ) -1.8% 3.3% 47.6% Days sales outstanding 51 47 54 Days of inventory 45 53 41 Current ratio 3.1 2.8 3.3 Quick ratio 2.5 2.2 2.1 Gross margin as a percentage of revenues 41.6% 41.2% 34.1% R&D as a percentage of revenues 23.7% 24.6% 25.1% SG&A as a percentage of revenues 14.5% 15.1% 14.4% Employees ( c ) 5,356 5,378 8,302 Revenues per employee (in thousands) ( d ) $533.5 $514.7 $350.5 Selected Cash Flow Information: Purchases of property and equipment ( e ) $14.1 $14.3 $13.4 Depreciation and amortization ( f ) $22.1 $20.6 $24.6 ( a ) Represents sequential quarter growth in revenues. ( b ) Represents growth in revenues in the quarter presented as compared to the same quarter of the previous year. ( c ) Actual number of employees at the end of each period presented. ( d ) Revenues per employee is calculated by annualizing revenues for each quarter presented and dividing it by the number of employees. ( e ) Excludes purchases of software. ( f ) Represents depreciation of fixed assets and amortization of software. LSI CORPORATION Reconciliations of Non-GAAP to GAAP measures (In thousands) (Unaudited) Three Months Ended September 28, September 30, 2008 2007 Consolidated revenues $714,308 $727,415 Less: Mobility revenues - 93,305 Consumer revenues - 5,600 Consolidated revenues excluding Mobility & Consumer $714,308 $628,510 % change in revenues-yr./yr. 14% Editor's Notes: 1. All LSI news releases (financial, acquisitions, manufacturing, products, technology etc.) are issued exclusively by PR Newswire and are immediately thereafter posted on the company's external website, http://www.lsi.com/. 2. LSI and the LSI logo design are trademarks or registered trademarks of LSI Corporation or its subsidiaries. 3. All other brand or product names may be trademarks or registered trademarks of their respective companies.

LSI Corporation

CONTACT: Investor Relations, Sujal Shah, +1-610-712-5471,
sujal.shah@lsi.com, or Media, Mitch Seigle, +1-408-954-3225,
mitch.seigle@lsi.com, both of LSI Corporation

Web site: http://www.lsilogic.com/
http://www.lsi.com/

ANADIGICS Announces Third Quarter 2008 ResultsNet Sales of $58.1 Million; down 27.8% sequentially and 2.4% From Year Ago Quarter GAAP Loss Per Share of ($0.26); Pro Forma EPS of Break-Even

WARREN, N.J., Oct. 22 /PRNewswire-FirstCall/ -- ANADIGICS, Inc. , a leading provider of semiconductor solutions in the rapidly growing broadband wireless and wireline communications markets, reported third quarter 2008 net sales of $58.1 million, a decrease of 27.8% compared with net sales of $80.5 million in the prior quarter, and a decrease of 2.4% compared to net sales of $59.5 million in the year ago quarter.

Net loss was $15.5 million, or $0.26 per share, compared with net income of $6.0 million, or $0.10 per diluted share, in the prior quarter and net income of $2.4 million, or $0.04 per diluted share, in the year ago quarter. Pro forma earnings for the third quarter 2008, which excludes non-GAAP adjustments of $15.4 million, was break even, compared with $11.6 million, or $0.18 per diluted share, in the prior quarter and $5.9 million, or $0.10 per diluted share, in the year ago quarter. The non-GAAP adjustments include stock-based compensation, impairment of auction rate securities, discontinued operations and charges for management separations, cancellations and impairments on equipment and inventory reserves associated with reduced demand. The details of the non-GAAP adjustments are disclosed in the accompanied financial statements.

"Our third-quarter performance primarily reflects loss of market share," said Gilles Delfassy, chairman and interim chief executive officer. "When we weren't able to meet some of our customers' increased demand during the past several quarters, they looked for other sources of supply. In addition, we missed the lower end of our revenue guidance due to a combination of rescheduled backlog orders reflecting the weaker economic environment, and internal execution issues.

"We certainly have work to do to regain the trust and confidence of our customers, but I am optimistic. We are making the necessary changes to solidify our operations in order to deliver what our customers expect from us. I am also encouraged because customers continue to tell us that our products help them achieve superior performance. With improved operational performance and continued product differentiation, I'm confident we can regain our market position and resume revenue growth."

As of September 27, 2008 cash and short and long-term marketable securities totaled $152.2 million compared with $161.4 million at June 28, 2008.

"In light of the change in quarterly revenue along with the uncertain macroeconomic environment, we are taking immediate measures to realign our cost structure across the company," said Tom Shields, executive vice president and chief financial officer. "We believe that the results of these actions will have a significant impact on our operating performance in the near term without compromising our new product design and development."

Outlook for the Fourth Quarter 2008

Net sales for the fourth quarter 2008 are estimated to be in the range of $44 million to $46 million. Net sales at this level would represent an approximate 32% to 35% decrease on a comparable basis with fourth quarter 2007. Net loss per share on a GAAP basis for the fourth quarter 2008 is expected to approximate $0.19 to $0.21. Pro forma loss per share, excluding non-cash stock compensation expense, is expected to be in the range of approximately $0.12 - $0.14. The net loss and pro forma loss per share are based on an estimated diluted weighted average outstanding common share count of 61 million.

The statements regarding outlook are forward looking and actual results may differ materially. Please see safe harbor statement at the end of the press release.

This press release includes financial measures that are not in accordance with GAAP, consisting of non-GAAP, or pro forma, net income or loss and non-GAAP, or pro forma, income or loss per share. Management uses non-GAAP net income or loss and non-GAAP income or loss per share to evaluate the company's operating and financial performance in light of business objectives, for planning purposes, when publicly providing our business outlook and to facilitate period-to-period comparisons. ANADIGICS believes that these measures are useful to investors because they enhance investors' ability to review the company's business from the same perspective as the company's management and facilitate comparisons of this period's results with prior periods. These non-GAAP measures exclude charges related to stock-based compensation, impairment of auction rate securities, discontinued operations and charges unique to the third quarter of 2008 resulting from management separations, cancellations and impairments on equipment and inventory reserves associated with reduced demand. Non-GAAP measures are used by some investors when assessing the ongoing operating and financial performance of our Company. These financial measures are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Management acknowledges that stock-based compensation is a recurring cost and is an important part of our employee's compensation and impacts their performance. However the expense is non-cash in nature and there are various valuation methodologies and assumptions used in determining stock-based compensation that may be unrelated to operations, such as volatility and current interest rates. The presentation of the additional information should not be considered a substitute for net income or loss or income or loss per share prepared in accordance with GAAP.

Limitations of non-GAAP financial measures. The primary material limitations associated with the use of non-GAAP measures as compared to the most directly comparable GAAP financial measures are (i) they may not be comparable to similarly titled measures used by other companies in ANADIGICS industry, and (ii) they exclude financial information that some may consider important in evaluating our performance. We compensate for these limitations by providing reconciliations of reported net income or loss and income or loss per share to non-GAAP net income or net loss and non-GAAP income or loss per share, respectively, within this press release.

Conference Call

ANADIGICS' senior management will conduct a conference call today at 5:00 PM Eastern time. A live audio Webcast will be available at http://www.anadigics.com/investors. A recording of the call will be available approximately two hours after the end of the call on the ANADIGICS Web site or by dialing 800-642-1687 (available until October 29, 2008).

Recent Highlights

September 30, 2008 - ANADIGICS Delivers 3G PA to LG Electronics for Newest Touch Screen Handset on AT&T Network

September 11, 2008 - ANADIGICS' DOCSIS 3.0 Amplifier Featured In Sigma Designs' Reference Design For IP-Cable Set-Top Box

September 9, 2008 - ANADIGICS To Showcase Latest Technology At Three Major Industry Events

August 18, 2008 - ANADIGICS, Inc. Announces Resignation of CEO Dr. Bami Bastani; Appoints Gilles Delfassy Chairman of the Board to Lead Through Transition

August 13, 2008 - ANADIGICS Nominated for EDN China Innovation Award August 7, 2008 - ANADIGICS Lowers Third Quarter 2008 Financial Guidance About ANADIGICS, Inc.

ANADIGICS, Inc. is a leading provider of semiconductor solutions in the rapidly growing broadband wireless and wireline communications markets. The Company's products include power amplifiers, tuner integrated circuits, active splitters, line amplifiers, and other components, which can be sold individually or packaged as integrated radio frequency and front end modules.

Safe Harbor Statement

Except for historical information contained herein, this press release contains projections and other forward-looking statements (as that term is defined in the Securities Exchange Act of 1934, as amended). These projections and forward-looking statements reflect the Company's current views with respect to future events and financial performance and can generally be identified as such because the context of the statement will include words such as "believe", "anticipate", "expect", or words of similar import. Similarly, statements that describe our future plans, objectives, estimates or goals are forward-looking statements. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results and developments could differ materially from those projected as a result of certain factors. Important factors that could cause actual results and developments to be materially different from those expressed or implied by such projections and forward-looking statements include those factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2007, and those discussed elsewhere herein.

ANADIGICS, INC. Condensed Consolidated Balance Sheets (Amounts in thousands) Sept. 27 Dec. 31 2008 2007 -------- -------- Assets Unaudited Current assets: Cash and cash equivalents $130,102 $57,786 Marketable securities 9,110 103,778 Accounts receivable 36,525 45,664 Inventory 34,432 23,989 Prepaid expenses and other current assets 3,826 3,277 ----- ----- Total current assets 213,995 234,494 Marketable securities 13,029 15,248 Plant and equipment, net 106,669 76,129 Goodwill and other intangibles, net of amortization 6,330 6,524 Other assets 763 1,066 --- ----- $340,786 $333,461 ======== ======== Liabilities and stockholders' equity Current liabilities: Accounts payable $23,228 $34,184 Accrued liabilities 13,716 7,928 ------ ----- Total current liabilities 36,944 42,112 Other long-term liabilities 3,161 3,243 Long-term debt 38,000 38,000 Total Stockholders' equity 262,681 250,106 ------- ------- $340,786 $333,461 ======== ======== * The condensed balance sheet at December 31, 2007 has been derived from the audited financial statements at such date but does not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. ANADIGICS, INC. Consolidated Statements of Operations (Amounts in thousands, except per share amounts, unaudited) Three months ended Nine months ended ------------------ ----------------- Sept. 27 Sept. 29 Sept. 27 Sept. 29 2008 2007 2008 2007 -------- -------- -------- -------- Net sales $58,065 $59,545 $212,927 $162,987 Cost of sales 44,790 39,387 143,127 107,637 ------ ------ ------- ------- Gross profit 13,275 20,158 69,800 55,350 Research and development expenses 12,931 12,491 42,059 33,309 Selling and administrative expenses 14,576 7,221 32,897 22,062 ------ ----- ------ ------ Operating (loss) income (14,232) 446 (5,156) (21) Interest income 978 2,338 4,197 5,776 Interest expense (592) (592) (1,774) (1,872) Other (expense) income (1,622) 173 (2,758) 173 ------ --- ------ --- (Loss) income from continuing operations (15,468) 2,365 (5,491) 4,056 Loss from discontinued operations - - - (965) - - - ---- Net (loss) income $(15,468) $2,365 $(5,491) $3,091 ======== ====== ======= ====== Basic (loss) earnings per share --------------------- (Loss) income from continuing operations $(0.26) $0.04 $(0.09) $0.08 Loss from discontinued operations $- $- $- $(0.02) -- -- -- ------ Net (loss) income $(0.26) $0.04 $(0.09) $0.06 ====== ===== ====== ===== Diluted (loss) earnings per share ----------------------- (Loss) income from continuing operations $(0.26) $0.04 $(0.09) $0.07 Loss from discontinued operations $- $- $- $(0.02) -- -- -- ------ Net (loss) income $(0.26) $0.04 $(0.09) $0.05 ====== ===== ====== ===== Basic shares outstanding 60,509 57,505 59,949 54,114 ====== ====== ====== ====== Basic & dilutive shares outstanding 60,509 60,648 59,949 57,403 ====== ====== ====== ====== Unaudited Reconciliation of GAAP to Pro Forma Non-GAAP Financial Measures GAAP net (loss) income $(15,468) $2,365 $(5,491) $3,091 Stock compensation expense in continuing operations Cost of sales 822 736 2,574 2,487 Research and development 1,470 1,446 5,271 4,338 Selling and administrative 1,567 1,375 5,361 4,448 Other non-GAAP adjustments Cost of sales(1) 4,216 - 4,216 - Selling and administrative(2) 5,729 - 5,729 - Auction rate securities impairment 1,627 - 3,064 - Loss from discontinued operations - - - 965 - - - --- Pro forma net (loss) income $(37) $5,922 $20,724 $15,329 ==== ====== ======= ======= Pro forma earnings (loss) per share* ------------------------- Basic $- $0.10 $0.35 $0.28 == ===== ===== ===== Diluted $- $0.10 $0.35 $0.27 == ===== ===== ===== (*) Calculated using related GAAP shares outstanding (1) Includes manufacturing equipment purchase cancellation charges of $1,860 (primarily cash), a non-cash write down of certain manufacturing assets held for sale of $849, inventory reserves for products with lower demand of $1,210 and separation and related costs. (2) Separation and transition costs of $5,729 related to CEO resignation ($3,539 cash; $2,190 non-cash).

Anadigics, Inc.

CONTACT: Investor Relations, Thomas Shields, ANADIGICS, Inc.,
+1-908-412-5995, tshields@anadigics.com

Web Site: http://www.anadigics.com/
http://www.anadigics.com/investors

Alliance Data Announces Third Quarter Results*Company Raises Full-Year 2008 Cash Earnings per Share Guidance*Establishes 2009 Guidance of 17 - 18 Percent Cash Earnings per Share Growth

DALLAS, Oct. 22 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation , a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced results for the third quarter ended September 30, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20051024/ADSLOGO )

Total third quarter revenue increased 4 percent to $511.2 million compared to $492.0 million for the third quarter of 2007. Income from continuing operations per diluted share increased 20 percent to $0.91 per diluted share compared to $0.76 for the third quarter of 2007.

Adjusted EBITDA for the third quarter of 2008 increased 1 percent to $170.0 million compared to $168.9 million for the third quarter of 2007. Cash earnings per diluted share increased 15 percent to $1.22 for the third quarter of 2008 compared to $1.06 for the third quarter of 2007. This result exceeded the Company's previously issued guidance for third quarter cash earnings per diluted share of $1.15. See "Financial Measures" below for a discussion of operating EBITDA, adjusted EBITDA, cash earnings and cash earnings per diluted share. The segment information, adjusted EBITDA, operating EBITDA, cash earnings and cash earnings per diluted share exclude pre-tax merger and other non-routine income of $1.1 million for the three months ended September 30, 2008. This includes the receipt of $3.0 million for reimbursement of certain costs related to the Blackstone entities' financing of the proposed merger and $0.9 million of expenditures directly associated with the proposed but now terminated merger of the Company with an affiliate of The Blackstone Group. Additionally, the Company incurred approximately $1.0 million in other non-routine costs associated with the disposition of non-core operations.

"Our business model continues to deliver solid results as evidenced by our 15 percent cash earnings per share growth for the third quarter," said Mike Parks, Alliance Data chairman and chief executive officer. "Once again, our Canadian AIR MILES(R) Reward Program continued to over-perform, achieving organic growth rates of 25 percent and 38 percent for revenue and adjusted EBITDA, respectively, with no foreign exchange benefit. In addition, the strong performance in our Epsilon Marketing Services business was driven by new wins including Commerce Bank and Beech-Nut Nutrition, larger commitments from existing clients, stable pricing and new client ramp-ups. Finally, while Private Label's results continue to be affected by the loss of the Lane Bryant portfolio, we are nearing the anniversary of that loss in the fourth quarter. We are beginning to see traction from the ramp-up of clients signed over the last three years which, along with the record-level signings of new clients in 2008, are expected to drive credit sales and portfolio growth in 2009.

"As the Company has demonstrated through 30 quarters of meeting or exceeding guidance, visibility and predictability are key attributes of our business model," continued Mr. Parks. "Despite market turmoil and concerns about the macro-economic environment, the increasing trend of marketing dollars shifting to highly targeted, full-scale loyalty and marketing programs with measurable results gives the Company confidence that 2008 will be another year of outstanding performance. As a result of our solid third quarter performance and the visibility we have for the remainder of the year, we are again raising our guidance for the full year 2008."

Business Review

Third quarter results were driven by continued leadership from the Company's Loyalty Services segment. In addition to increasing growth via existing sponsors as well as the ongoing 'network' effect as more collectors visit more sponsors, Loyalty Services continues to sign additional high value-add sponsors. Specifically, Hilton HHonors(R) joined the AIR MILES Reward Program during the quarter and its 3,000 global locations will offer a tremendous opportunity for collectors to earn additional miles.

The Company's Epsilon Marketing Services business' adjusted EBITDA rose from the low-to-mid $20 million range during the first and second quarters to over $40 million in the third quarter as clients continued to rely on Epsilon's highly targeted transaction-based loyalty and marketing programs. Despite dismal consumer spending and severe cutbacks in retailers' marketing budgets, this segment continued to deliver results. Furthermore, during the quarter Epsilon Marketing Services continued to build and expand its diverse client base as evidenced by the additions of both Commerce Bank and Beech-Nut Nutrition.

During the quarter the Company's Private Label business signed the renewal of New York & Company along with five new programs including Beall's Department Stores, Southern Pipe (commercial program), eight of Orchard Group's newly acquired catalogs, a co-brand program with Ann Taylor to supplement our existing private label program and a new private label program for sporting goods retailer Gander Mountain. This brings the Company's total count of new program signings to nine for the year.

During the third quarter the Company completed the disposition of the majority of Utility Services, a non-core discontinued operation, bringing in approximately $50 million in cash. Turning to capital markets, Alliance Data continued to expand its liquidity through a new $805 million convertible note offering as well as the recent October 2008 announcement of $1.4 billion in new facilities for the Private Label Credit business. Finally, the Company spent approximately $420 million on share repurchases during the quarter pursuant to previously announced share repurchase programs. Year to date, the Company has repurchased 14.3 million, or 18 percent, of its outstanding shares for $870 million out of the aggregate $1.8 billion authorization.

SEGMENT REVIEW

Loyalty Services. Loyalty Services delivered a record third quarter with revenue and adjusted EBITDA of $187.7 million and $49.0 million, respectively. For the third quarter 2008, revenue grew 25 percent compared to the prior year while adjusted EBITDA increased by 38 percent compared to the prior year, driving adjusted EBITDA margins up close to 250 basis points versus the third quarter of 2007. This strong performance was driven by several factors, including solid double-digit growth in both AIR MILES reward miles issued and AIR MILES reward miles redeemed. Additional growth drivers for Loyalty Services include the continued benefit from solid pricing, the ramp-up of new sponsors, expanded commitments from existing sponsors, and, finally, the continued benefit of coalition loyalty as households frequent an increasing number of sponsors. The program's relatively fixed cost structure also continued to drive margin expansion.

Driven by the factors noted above, Loyalty Services is currently running well above its long-term target growth rates for both revenue and adjusted EBITDA. As such, it is expected that results for the full-year 2008 will remain well ahead of initial Company expectations and provide strong comfort that 2009 will be another excellent year for Loyalty Services.

Epsilon Marketing Services. Epsilon Marketing Services' performance was highlighted by adjusted EBITDA for the third quarter of $40.1 million, which represented sequential adjusted EBITDA growth of over 50 percent from the second quarter and adjusted EBITDA growth of just under 10 percent compared to the prior year period. The Company remains confident in the results expected for the remainder of the year in Epsilon Marketing Services despite the extremely challenging conditions in the macro-environment. The Company does, in fact, believe that many businesses have severely cut back on marketing spend. However, as was borne out in the third quarter, Epsilon's target marketing programs continue to be utilized by our clients in lieu of more traditional marketing channels.

Revenue growth rose to 6 percent in the third quarter versus 5 percent in the second quarter. The segment's performance was driven by new client signings, including Commerce Bank and Beech-Nut Nutrition, larger commitments from existing clients, stable pricing and new client ramp-ups. Due to client confidentiality, most new signings have not been announced publicly. However, Epsilon continues to have the most robust pipeline in the Company and signings this year have been in diverse industries such as Insurance, Healthcare, Financial Services, Computer Services, Retail and Leisure. For the year, Epsilon is expected to achieve double-digit growth in adjusted EBITDA and continued double-digit growth for 2009.

Private Label Services. Private Label Services provides processing, high-end customer care and marketing programs associated with the Company's approximately 90 private label card clients. For the quarter, revenue increased slightly to $94.7 million compared to prior year, while adjusted EBITDA increased by 26 percent to $30.5 million compared to the prior year.

The increase in adjusted EBITDA is primarily the result of the segment's continued benefit from increased adjusted EBITDA margin related to fees earned based upon incremental costs of expanding both its collections and customer care services in 2007. In 2008, Private Label Services increased its charges to Private Label Credit for these incremental costs incurred. Additionally, Private Label Services is expected to generate growth once the Lane Bryant grow-over eases and overall volumes begin to increase as new clients signed in 2006, 2007 and 2008 continue to ramp-up. Mid-to-high single digit growth for 2009 is expected.

Private Label Credit. Private Label Credit revenue declined by 12 percent to $182.4 million for the third quarter compared to the prior year. The decline in revenue was largely attributable to the loss of the Lane Bryant portfolio. While the segment achieved a lower cost of funds relative to the prior year, certain of those benefits were reflected as a reduction of interest expense ("below adjusted EBITDA") from the result of the on balance sheet financing structure.

Adjusted EBITDA declined 33 percent to $59.7 million for the third quarter compared to the prior year. The decline is consistent with the average of $22 million per quarter seen in the first nine months of 2008. Similar to revenue, the decline in adjusted EBITDA was primarily the result of the loss of the Lane Bryant portfolio and the previously discussed transfer pricing from Private Label Services and cost of funds savings reflected below adjusted EBITDA.

Turning to operating metrics, the trends remain consistent with previous guidance:

-- Portfolio Growth - excluding Lane Bryant (which will anniversary in November), growth remains consistent in the mid-single digit range; -- Portfolio Yield - during the first half of the year, slightly lower yields were seen as a result of a modest fall off in late fee payments. In the third quarter, yields bounced back from the second quarter; -- Credit Losses - consistent with guidance, credit losses are expected to average in the mid-6 percent range for the year. The first half of the year was below the mid-6 percent range, while the second half is expected to be above; -- Delinquencies - consistent with guidance, delinquencies are expected to average in the mid-5 percent range for the year. Similar to credit losses, delinquency rates were below this average during the first half of the year and are expected to run above during the second half; -- Costs of Funds - remained relatively stable versus the prior quarter.

The combination of Private Label Services and Private Label Credit has produced adjusted EBITDA results that have lagged behind prior year by approximately $20 million per quarter. The anniversary of the loss of the Lane Bryant portfolio in the fourth quarter is expected to reduce this impact by half. The adjusted EBITDA decline will then narrow further and flatten out in 2009.

OUTLOOK FOR 2008

Loyalty Services is expected to continue its over-performance in the fourth quarter and Epsilon Marketing Services is expected to continue to have a very strong year. Private Label faced stiff comparisons during much of the year and this will ease in the fourth quarter with the anniversary of the loss of the Lane Bryant portfolio.

The Canadian dollar peaked in the fourth quarter of 2007 at $1.02 and currently trades at approximately $0.85. This 17 cent weakening will result in an approximate $35.0 million negative impact to revenue and an approximate $8.0 million decrease in adjusted EBITDA in the fourth quarter. As a result of the actions the Company has recently taken to significantly expand its excess liquidity capacity, or "liquidity insurance," primarily with the recently announced new funding facilities of $1.4 billion, the Company will incur incremental costs of approximately $8.0 million from these facilities. These incremental costs are the result of the current dislocation of LIBOR rates and tight credit markets. This increased cost of funds will also have an impact on the interest only strip, as the interest only strip will be essentially flat for the second half of 2008 compared to a gain on the interest only strip of $18.0 million in the comparable period last year. The impact will affect both revenue and adjusted EBITDA.

Alliance Data continues to utilize its free cash flow generation and low leverage to execute its previously announced $1.8 billion share repurchase programs, which have resulted in over 14 million shares being repurchased, or 18 percent of all shares outstanding since the beginning of 2008. The buyback programs have proven to be both timely and accretive.

The Company believes that the over-performance of Loyalty Services, strong year for Epsilon Marketing Services and the accretion from the buyback programs will more than offset the incremental cost of the expanded liquidity, Canadian dollar impact and the Private Label headwinds. As a result, the Company is raising its earnings guidance for the full-year 2008 from cash earnings per share of $4.35 to cash earnings per share of $4.40. This will result in growth of 13 percent for the year, consistent with the Company's original guidance of an earnings growth acceleration model. Specifically, the first quarter showed zero percent growth, while second quarter and third quarter generated mid-teens growth and the fourth quarter is expected to significantly exceed those rates. Full year revenue is expected to come in around $2.05 billion, with operating EBITDA of $700 million, adjusted EBITDA of $660 million and, as mentioned, cash earnings per share at $4.40 for a 13 percent growth rate.

OUTLOOK FOR 2009 The Company is expected to benefit from: -- Loyalty Services' organic revenue and adjusted EBITDA growth of 18 and 20 percent, respectively; -- Epsilon Marketing Services' organic revenue and adjusted EBITDA growth of 8 and 13 percent, respectively; -- Private Label Services' revenue and adjusted EBITDA growth in the mid-single digit range; -- Private Label Credit portfolio growth in the low double-digits. Fourth quarter exit rate of mid-single digits plus 10 new programs ramping up; -- Minimal Capital Expenditures; -- Strong Free Cash Flow generation; -- Robust excess liquidity; and -- Accretion from the share repurchase programs. The Company is expected to be negatively impacted by: -- Canadian dollar currently running at 10 cents below 2008's average rate, which should impact revenue and adjusted EBITDA by $80.0 million and $20.0 million, respectively; -- Funding costs and "liquidity insurance" increasing due to the credit crunch, which is the reverse of typical behavior during a recession ($25 million negative impact to revenue and adjusted EBITDA); and -- Assumption of deep recession which will drive loss rates up in a steady and moderate fashion similar to 2008. 100bps = $44 million negative impact to revenue and adjusted EBITDA.

The Company expects cash earnings per share growth of 17 -18 percent, equating to cash earnings per share of $5.15 - $5.20.

Overall, solid earnings growth is expected to continue. Loyalty Services and Epsilon Marketing Services combined are expected to account for the majority of cash flow and virtually all of Alliance Data's growth. Private Label Services and Private Label Credit are expected to have strong statement and portfolio growth metrics due to the anniversary of the loss of the Lane Bryant portfolio and the record level of new programs signed in 2008 and ramping in 2009. This higher than typical growth should be largely offset by the expected cost of funds, "liquidity insurance" and credit loss increases.

Alliance Data will continue to utilize its free cash flow generation and low leverage to execute its $1.8 billion share repurchase programs in 2009. Accretion from the share repurchase programs is expected to mitigate a significant portion of the challenges in 2009.

On a consolidated level, for 2009 the Company is expecting $2.15 billion in revenue, operating EBITDA of $720 million, adjusted EBITDA of $680 million, and cash earnings per share of $5.15 - $5.20, a 17 - 18 percent increase over 2008. Revenue and adjusted EBITDA for 2009 could be impacted by the classification of the cost of funds depending on the funding source utilized.

Financial Measures

In addition to the results presented in accordance with generally accepted accounting principles, or GAAP, the Company presents financial measures that are non-GAAP measures, such as EBITDA, adjusted EBITDA, operating EBITDA, cash earnings and cash earnings per diluted share. These non-GAAP financial measures exclude the loss associated with the sale of the Mail Services business unit, costs associated with the proposed merger and other costs. The Company believes that these non-GAAP financial measures, viewed in addition to and not in lieu of the Company's reported GAAP results, provide useful information to investors regarding the Company's performance and overall results of operations. These metrics are an integral part of the Company's internal reporting to measure the performance of reportable segments and the overall effectiveness of senior management. Reconciliations to comparable GAAP financial measures are available in the accompanying schedules and on the Company's website. The financial measures presented are consistent with the Company's historical financial reporting practices. The non-GAAP financial measures presented herein may not be comparable to similarly titled measures presented by other companies, and are not identical to corresponding measures used in our various agreements or public filings.

Conference Call

Alliance Data will host a conference call on October 22, 2008 at 5:00 p.m. (Eastern) to discuss the Company's third quarter results. The conference call will be available via the Internet at http://www.alliancedata.com/. There will be several slides accompanying the webcast. Please go to the website at least 15 minutes prior to the call to register, download and install any necessary software. The recorded webcast will also be available on the Company's website.

If you are unable to participate in the conference call, a replay will be available. To access the replay, please dial 706-645-9291 and enter "66996121". The replay will be available from two hours after the end of the call until 11:59 P.M. (Eastern Time) on October 29, 2008.

About Alliance Data

Alliance Data is a leading provider of marketing, loyalty and transaction services, managing over 120 million consumer relationships for some of North America's most recognizable companies. Using transaction-rich data, Alliance Data creates and manages customized solutions that change consumer behavior and that enable its clients to create and enhance customer loyalty to build stronger, mutually beneficial relationships with their customers. Headquartered in Dallas, Alliance Data employs over 9,000 associates at more than 60 locations worldwide. Alliance Data's brands include AIR MILES(R), North America's premier coalition loyalty program, and Epsilon(R), a leading provider of multi-channel, data-driven technologies and marketing services. For more information about the Company, visit its website, http://www.alliancedata.com/.

Alliance Data's Safe Harbor Statement/Forward Looking Statements

This release may contain 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. Such statements may use words such as "anticipate," "believe," "estimate," "expect," "intend," "predict," "project" and similar expressions as they relate to us or our management. When we make forward-looking statements, we are basing them on our management's beliefs and assumptions, using information currently available to us. Although we believe that the expectations reflected in the forward-looking statements are reasonable, these forward-looking statements are subject to risks, uncertainties and assumptions, including those discussed in our filings with the Securities and Exchange Commission.

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statements contained in this presentation reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. These risks, uncertainties and assumptions include those made with respect to and any developments related to the termination of the proposed merger with an affiliate of The Blackstone Group, including risks and uncertainties arising from actions that the parties to the merger agreement or third parties may take in connection therewith. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this presentation regarding Alliance Data Systems Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the most recently ended fiscal year. Risk factors may be updated in Item 1A in each of the Company's Quarterly Reports on Form 10-Q for each quarterly period subsequent to the Company's most recent Form 10-K.

ALLIANCE DATA SYSTEMS CORPORATION SUMMARY FINANCIAL HIGHLIGHTS (In millions, except per share amounts) (Unaudited) Three Months Ended ------------------ September 30, ------------- 2008 2007 Change ---- ---- ------ Revenue $511.2 $492.0 4% Income from continuing operations $63.4 $61.3 3% Income from continuing operations per share - diluted $0.91 $0.76 20% Adjusted EBITDA $170.0 $168.9 1% Operating EBITDA $185.0 $178.5 4% Cash Earnings $85.0 $85.7 (1)% Cash Earnings per share - diluted $1.22 $1.06 15% Nine Months Ended ----------------- September 30, ------------- 2008 2007 Change ---- ---- ------ Revenue $1,517.7 $1,440.2 5% Income from continuing operations $188.0 $177.5 6% Income from continuing operations per share - diluted $2.46 $2.20 12% Adjusted EBITDA $496.5 $479.6 4% Operating EBITDA $529.6 $504.3 5% Cash Earnings $247.5 $239.8 3% Cash Earnings per share - diluted $3.24 $2.97 9% As of As of September 30, December 31, 2008 2007 ---- ---- Cash and cash equivalents $378.2 $219.2 Seller's interest and credit card receivables 373.7 652.4 Redemption settlement assets 644.2 317.1 Intangible assets, net 303.4 343.4 Goodwill 1,165.4 1,185.8 Total assets 4,193.9 4,103.6 Deferred revenue 1,141.7 828.3 Certificates of deposit 345.8 370.4 Core debt(1) 1,598.0 921.0 Total liabilities 3,681.7 2,906.6 Stockholders' equity 512.2 1,197.0 (1)Core debt excludes certificates of deposit and capital leases and other debt. ALLIANCE DATA SYSTEMS CORPORATION SUMMARY FINANCIAL HIGHLIGHTS (In millions) (Unaudited) Three Months Ended ------------------ September 30, ------------- 2008 2007 Change ---- ---- ------ Segment Revenue: Loyalty Services $187.7 $150.2 25% Epsilon Marketing Services 130.8 122.9 6 Private Label Services 94.7 92.6 2 Private Label Credit 182.4 207.6 (12) Corporate/Other 7.7 8.6 (10) Intersegment (92.1) (89.9) 2 ------ ------ $511.2 $492.0 4% ====== ====== Segment Adjusted EBITDA: Loyalty Services $49.0 $35.5 38% Epsilon Marketing Services 40.1 36.8 9 Private Label Services 30.5 24.2 26 Private Label Credit 59.7 89.1 (33) Corporate/Other (9.3) (16.7) (44) ----- ------ $170.0 $168.9 1% ====== ====== Key Performance Indicators: Private label statements generated 30.7 33.9 (9)% Average managed receivables $3,840.2 $3,901.6 (2)% Private label credit sales $1,694.1 $1,773.5 (4)% AIR MILES Reward Miles issued 1,137.7 1,020.0 12% AIR MILES Reward Miles redeemed 736.8 615.3 20% As Adjusted Key Performance Indicators(1) Private label statements generated 30.7 31.6 (3)% Average managed receivables $3,840.2 $3,659.4 5% Private label credit sales $1,694.1 $1,688.4 -% Nine Months Ended ----------------- September 30, ------------- 2008 2007 Change ---- ---- ------ Segment Revenue: Loyalty Services $559.5 $435.3 29% Epsilon Marketing Services 361.6 330.8 9 Private Label Services 285.0 282.0 1 Private Label Credit 579.0 633.7 (9) Corporate/Other 9.8 30.0 (67) Intersegment (277.2) (271.6) 2 ------- ------- $1,517.7 $1,440.2 5% ======== ======== Segment Adjusted EBITDA: Loyalty Services $143.3 $93.3 54% Epsilon Marketing Services 90.2 81.4 11 Private Label Services 87.4 81.3 8 Private Label Credit 210.4 278.4 (24) Corporate/Other (34.8) (54.8) (36) ------ ------ $496.5 $479.6 4% ====== ====== Key Performance Indicators: Private label statements generated 93.3 102.1 (9)% Average managed receivables $3,859.5 $3,890.4 (1)% Private label credit sales $5,096.0 $5,277.2 (3)% AIR MILES Reward Miles issued 3,300.6 2,998.2 10% AIR MILES Reward Miles redeemed 2,224.7 1,933.6 15% As Adjusted Key Performance Indicators(1) Private label statements generated 93.3 95.1 (2)% Average managed receivables $3,859.5 $3,651.4 6% Private label credit sales $5,096.0 $5,020.9 2% (1)Excludes the impact of the loss of the Lane Bryant portfolio. ALLIANCE DATA SYSTEMS CORPORATION CONSOLIDATED CONDENSED STATEMENTS OF INCOME (In millions, except per share amounts) (Unaudited) Three Months Ended Nine Months Ended ------------------ ----------------- September 30, September 30, ------------- ------------- 2008 2007 2008 2007 ---- ---- ---- ---- Total revenue $511.2 $492.0 $1,517.7 $1,440.2 Total operating expenses 391.4 376.5 1,165.2 1,101.9 ----- ----- ------- ------- Operating income 119.8 115.5 352.5 338.3 Interest expense, net 16.5 17.7 47.5 52.5 ---- ---- ---- ---- Income from continuing operations before income taxes 103.3 97.8 305.0 285.8 Income tax expense 39.9 36.5 117.0 108.3 ---- ---- ----- ----- Income from continuing operations 63.4 61.3 188.0 177.5 ---- ---- ----- ----- Income (loss) from discontinued operations, net of taxes(1) 5.9 (32.1) (22.5) (47.4) --- ------ ------ ------ Net income $69.3 $29.2 $165.5 $130.1 ===== ===== ====== ====== Per share data: Basic - Income from continuing operations $0.94 $0.78 $2.53 $2.26 ========== ======== ========== ======== Basic - Income (loss) from Discontinued operations 0.09 (0.41) (0.30) (0.60) ---- ------ ------ ------ Basic - Net income $1.03 $0.37 $2.23 $1.66 ===== ===== ===== ===== Diluted - Income from continuing operations $0.91 $0.76 $2.46 $2.20 ========== ======== ========== ======== Diluted - Income (loss) From discontinued operations(1) 0.08 (0.40) (0.29) (0.59) ---- ------ ------ ------ Diluted - Net income $0.99 $0.36 $2.17 $1.61 ===== ===== ===== ===== Weighted average shares outstanding - basic 67.4 78.2 74.2 78.5 ==== ==== ==== ==== Weighted average shares outstanding - diluted 69.7 80.7 76.3 80.8 ==== ==== ==== ==== (1)During the third quarter of 2007, the Company recorded a pre-tax impairment charge of $40.0 million related to the write-down of certain long-lived assets in the Company's utility services business. The amount net of tax is classified as part of our discontinued operations. ALLIANCE DATA SYSTEMS CORPORATION RECONCILIATION OF NON-GAAP INFORMATION (In millions, except per share amounts) (Unaudited) Three Months Nine Months Ended Ended ------------------ ----------------- September 30, September, 30 ------------- ------------- 2008 2007 2008 2007 ---- ---- ---- ---- Adjusted EBITDA and Operating EBITDA: Income from continuing operations (GAAP measure) $63.4 $61.3 $188.0 $177.5 Stock compensation expense 17.2 14.5 31.2 35.2 Income tax expense 39.9 36.5 117.0 108.3 Interest expense, net 16.5 17.7 47.5 52.5 Depreciation and other amortization 17.4 15.4 52.7 44.0 Amortization of purchased intangibles 16.7 17.4 50.7 49.9 Loss on sale of assets - - 1.1 - Merger and other costs (1.1) 6.1 8.3 12.2 ----- --- --- ---- Adjusted EBITDA 170.0 168.9 496.5 479.6 Change in deferred revenue(1) (37.6) 66.0 313.4 152.7 Change in redemption settlement assets(1) 28.9 (26.6) (327.1) (54.6) Foreign currency impact 23.7 (29.8) 46.8 (73.4) ---- ------ ---- ------ Operating EBITDA $185.0 $178.5 $529.6 $504.3 ====== ====== ====== ====== Cash Earnings: Income from continuing operations (GAAP measure) $63.4 $61.3 $188.0 $177.5 Add back non-cash non-operating items and merger and other costs: Stock compensation expense 17.2 14.5 31.2 35.2 Amortization of purchased intangibles 16.7 17.4 50.7 49.9 Loss on the sale of assets - - 1.1 - Merger and other costs (1.1) 6.1 8.3 12.2 Income tax effect (2) (11.2) (13.6) (31.8) (35.0) ------ ------ ------ ------ Cash earnings $85.0 $85.7 $247.5 $239.8 ===== ===== ====== ====== Weighted average shares Outstanding - diluted 69.7 80.7 76.3 80.8 Cash earnings per share - diluted $1.22 $1.06 $3.24 $2.97 (1)Increases to deferred revenue and redemption settlement assets for the nine months ended September 30, 2008 were impacted by the transaction completed with the Bank of Montreal in the second quarter of 2008. (2)Represents income taxes adjusted for the related tax benefit or expense for the non-GAAP measure adjustments. ALLIANCE DATA SYSTEMS CORPORATION RECONCILIATION OF SEGMENT ADJUSTED EBITDA (In millions) (Unaudited) Three months ended September 30, 2008 ------------------------------------- Stock Merger & ----- -------- Operating Depreciation & compensation other non- Adjusted --------- -------------- ------------- ---------- -------- income amortization expense routine costs EBITDA(1) ------ ------------ ------- ------------- --------- Loyalty Services $38.0 $7.0 $4.0 $ - $49.0 Epsilon Marketing Services 17.9 18.7 3.5 - 40.1 Private Label Services 26.0 2.2 2.3 - 30.5 Private Label Credit 56.2 3.0 0.5 - 59.7 Corporate/ Other (18.3) 3.2 6.9 (1.1) (9.3) ------ --- --- ----- ----- $119.8 $34.1 $17.2 $(1.1) $170.0 ====== ===== ===== ====== ====== Three months ended September 30, 2007 ------------------------------------- Stock Merger & ----- -------- Operating Depreciation & compensation other non- Adjusted --------- -------------- ------------- ---------- -------- income amortization expense routine costs EBITDA(1) ------ ------------ ------- ------------- --------- Loyalty Services $27.6 $6.1 $1.8 $ - $35.5 Epsilon Marketing Services 15.1 18.8 2.9 - 36.8 Private Label Services 20.9 2.0 1.3 - 24.2 Private Label Credit 86.1 2.8 0.2 - 89.1 Corporate/ Other (34.2) 3.1 8.3 6.1 (16.7) ------ --- --- --- ------ $115.5 $32.8 $14.5 $6.1 $168.9 ====== ===== ===== ==== ====== Nine Months ended September 30, 2008 ------------------------------------ Stock Merger & ----- -------- Operating Depreciation & compensation other non- Adjusted --------- -------------- ------------- ---------- -------- income amortization expense routine costs EBITDA(1) ------ ------------ ------- ------------- --------- Loyalty Services $111.2 $23.7 $8.4 $ - $143.3 Epsilon Marketing Services 25.8 56.7 5.1 2.6 90.2 Private Label Services 74.9 6.7 4.3 1.5 87.4 Private Label Credit 200.5 8.6 1.3 - 210.4 Corporate/ Other (59.9) 7.7 12.1 5.3 (34.8) ------ --- ---- --- ------ $352.5 $103.4 $31.2 $9.4 $496.5 ====== ====== ===== ==== ====== Nine Months ended September 30, 2007 ------------------------------------ Stock Merger & ----- -------- Operating Depreciation & compensation other non- Adjusted --------- -------------- ------------- ---------- -------- income amortization expense routine costs EBITDA(1) ------ ------------ ------- ------------- --------- Loyalty Services $70.1 $17.6 $5.6 $ - $93.3 Epsilon Marketing Services 21.4 52.6 7.4 - 81.4 Private Label Services 70.9 6.5 3.9 - 81.3 Private Label Credit 269.4 8.4 0.6 - 278.4 Corporate/ Other (93.5) 8.8 17.7 12.2 (54.8) ------ --- ---- ---- ------ $338.3 $93.9 $35.2 $12.2 $479.6 ====== ===== ===== ===== ====== (1)Represents segment Adjusted EBITDA and is equal to operating income plus depreciation, amortization, stock compensation expense and merger and other costs.

Photo: http://www.newscom.com/cgi-bin/prnh/20051024/ADSLOGO Alliance Data Systems Corporation

CONTACT: Julie Prozeller, Investors-Analysts, Financial Dynamics,
+1-212-850-5721, alliancedata@fd.com, Shelley Whiddon, Media, Alliance Data,
+1-972-348-4310, Shelley.Whiddon@AllianceData.com

Web Site: http://www.alliancedata.com/

Advanced Energy Announces 2008 Third Quarter Financial Results Driven by Record Solar Revenues

FORT COLLINS, Colo., Oct. 22 /PRNewswire-FirstCall/ -- Advanced Energy Industries, Inc. today announced financial results for the third quarter ended September 30, 2008. Sales for the third quarter of 2008 were $84.5 million, which represented a 6.6% decline from $90.5 million in the same quarter a year ago and a 4.0% decline from $88.0 million in the second quarter of 2008. The decrease was attributed mainly to weakening global economic conditions and continued challenges in the semiconductor capital equipment market. Our book to bill ratio for the quarter was 0.92:1, with an ending backlog of $48.9 million.

Despite the overall decline in revenue, sales to non-semiconductor markets grew 11% sequentially to 48% of total sales for the quarter. Non-semiconductor performance was driven by sales to the solar market, which represented 23% of total revenue, and sales to the flat panel display market, which were also strong at 11% of total sales. Service sales grew to 18% of total revenue, as customers evaluated the benefits of making near-term investments versus extending the life of their existing equipment with upgrades and maintenance during these challenging economic times.

Gross margin for the third quarter was 41.7%, up from 40.6% in the third quarter of 2007, and 40.1% in the second quarter of 2008, due principally to a more favorable product mix.

Net income for the third quarter of 2008 was $5.4 million, or $0.13 per diluted share, compared to $5.9 million, or $0.13 per diluted share, in the third quarter of 2007. Net income also decreased sequentially from $5.9 million or $0.14 per diluted share in the second quarter of 2008.

"Sales to the solar market reached their highest levels yet, and were once again key to the success of our quarterly results, aided by strength in sales to the flat panel display market and our service business. We continued to build out our non-semiconductor businesses with new products such as our recently announced 500KW Solaron inverter. The expansion of this product portfolio will allow us to penetrate larger inverter installations, including utilities and solar farms. Overall, we were pleased with our performance in the third quarter, especially in light of the particularly challenging economic environment," said Dr. Hans Betz, president and chief executive officer of Advanced Energy. "Unfortunately, the distressed economic conditions are impacting all markets and have led us to guide lower revenues and earnings for the fourth quarter. We will, however, take important steps to manage costs in order to maintain a healthy business, while investing in key products and markets to position the company for future opportunities."

Fourth Quarter 2008 Guidance

The Company anticipates fourth quarter 2008 results to be within the following ranges:

-- Sales of $66 million to $72 million. -- Earnings per share of ($0.05) to $0.01 Third Quarter 2008 Conference Call

Management will host a conference call today, Wednesday, October 22, 2008 at 5:00 pm Eastern Daylight Time to discuss Advanced Energy's financial results. Domestic callers may access this conference call by dialing 888-713-4717. International callers may access the call by dialing 706-634-7937. Participants will need to provide a conference passcode 68332373. For a replay of this teleconference, please call 800-642-1687 or 706-645-9291, and enter the passcode 68332373. The replay will be available through 12:00 a.m. Eastern Daylight Time, October 24, 2008. A webcast will also be available on the Investor Relations webpage at http://ir.advanced-energy.com/.

About Advanced Energy

Advanced Energy(R) is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar power generation. Specifically, AE targets solar grid-tie inverters, solar cells, semiconductors, flat panel displays, data storage products, architectural glass and other advanced applications.

The Company's expectations with respect to financial results for the fourth quarter of 2008 are 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. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: the volatility and cyclicality of the industries the company serves, particularly the semiconductor industry, the timing of orders received from customers, the company's ability to realize cost improvement benefits from the global operations initiatives underway, and unanticipated changes to management's estimates, reserves or allowances. These and other risks are described in Advanced Energy's Form 10-K, Forms 10-Q and other reports and statements filed with the Securities and Exchange Commission. These reports and statements are available on the SEC's website at http://www.sec.gov/. Copies may also be obtained from Advanced Energy's website at http://www.advanced-energy.com/ or by contacting Advanced Energy's investor relations at 970-407-6555. Forward-looking statements are made and based on information available to the company on the date of this press release. The company assumes no obligation to update the information in this press release.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2008 2007 2008 2007 Sales $84,510 $90,492 $261,393 $300,863 Cost of sales 49,249 53,765 155,008 170,873 Gross profit 35,261 36,727 106,385 129,990 Operating expenses: Research and development 14,681 12,937 41,528 37,883 Selling, general and administrative 14,337 15,537 42,760 46,169 Amortization of intangible assets 223 201 689 727 Restructuring charges 522 556 1,589 3,505 Total operating expenses 29,763 29,231 86,566 88,284 Income from operations 5,498 7,496 19,819 41,706 Other income, net 429 308 2,330 3,367 Income from continuing operations before income taxes 5,927 7,804 22,149 45,073 Provision for income taxes (558) (1,948) (4,951) (14,879) Net income $5,369 $5,856 $17,198 $30,194 Basic earnings per share $0.13 $0.13 $0.40 $0.67 Diluted earnings per share $0.13 $0.13 $0.40 $0.66 Basic weighted-average common shares outstanding 41,787 45,248 42,773 45,117 Diluted weighted-average common shares outstanding 42,201 45,761 43,183 45,696 CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands) September 30, December 31, 2008 2007 ASSETS Current assets: Cash and cash equivalents $81,232 $94,588 Marketable securities 53,687 110,676 Accounts receivable, net 65,582 64,188 Inventories, net 53,637 50,532 Deferred income taxes 13,747 23,696 Other current assets 4,037 4,289 Total current assets 271,922 347,969 Property and equipment, net 29,819 30,912 Long-term investments 33,307 1,483 Deposits and other 5,869 5,562 Goodwill and intangibles, net 68,587 67,768 Customer service equipment, net 1,223 1,236 Deferred income tax assets, net 19,292 4,098 Total assets $430,019 $459,028 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade accounts payable $14,431 $12,424 Other accrued expenses 28,584 29,590 Total current liabilities 43,015 42,014 Long-term liabilities 9,109 9,953 Total liabilities 52,124 51,967 Stockholders' equity 377,895 407,061 Total liabilities and stockholders' equity $430,019 $459,028

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20030825/AEISLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Advanced Energy Industries, Inc.

CONTACT: Lawrence D. Firestone, +1-970-407-6570,
lawrence.firestone@aei.com, or Annie Leschin, or Vanessa Lehr,
+1-970-407-6555, ir@aei.com, all of Advanced Energy Industries, Inc.

Web site: http://www.advanced-energy.com/

AT&T Wins $120 Million Award From the Department of Veterans Affairs for Advanced Data NetworkVeterans Affairs Awards AT&T Under the General Services Administration Networx Universal Program

VIENNA, Va., Oct. 22 /PRNewswire-FirstCall/ -- AT&T Government Solutions, a business unit of AT&T Inc. , has won an award worth approximately $120 million from the U.S. Department of Veterans Affairs (VA) to provide a data networking solution for the agency. The award was issued via the General Services Administration's Networx Universal program, a contract vehicle that allows AT&T to provide a full range of communications services to federal government agencies.

Selected by Veterans Affairs as its primary data provider, AT&T will deploy an Internet Protocol (IP) Wide Area Network (WAN) to deliver a wide assortment of data services to the Cabinet agency's 240,000-plus workforce, and the company will manage the data network transition for approximately 1,300 VA site locations nationwide. The AT&T Multiprotocol Label Switching (MPLS)-enabled network, a fully managed, highly secure data network, will provide VA with the standardized technology infrastructure to support the IP-enabled WAN.

As the second-largest Cabinet department, VA is responsible for providing federal benefits to veterans and their families and operates nationwide programs for health care, financial assistance and burial benefits. Approximately 74.5 million people are potentially eligible for VA benefits and services.

"AT&T is honored to support the Veterans Affairs' noble mission of serving the medical needs of America's veterans and their families with dignity and compassion," said Don Herring, senior vice president, AT&T Government Solutions. "As VA looks to continue to provide high-quality, seamless information in a secure manner to veterans, AT&T will deliver a network-enabled solution that not only addresses their security and bandwidth requirements but also takes into account the importance of controlling costs. We have a solid relationship with VA and are looking forward to serving as its data network provider."

The AT&T Networx Transition Management Center will manage the data network transition for Veterans Affairs. The AT&T Transition Management Center, based in Oakton, Va., is a government-dedicated site with PMP-certified program managers and staff that will leverage different resources, inventory management and processes for the VA data network transition.

With the new VA award, AT&T has now announced more than $700 million in Networx awards with customers including the Department of the Treasury and the Department of Homeland Security.

About AT&T Government Solutions

AT&T Government Solutions is a long-standing, trusted source of network-enabled solutions for the federal government, integrating unmatched network resources and IT and software engineering expertise with innovative technologies from AT&T Labs and industry-leading partners. With headquarters in Vienna, Va., AT&T Government Solutions is best known for network leadership in voice, data, video and managed services. AT&T Government Solutions is a proven solutions integrator, with expertise in areas such as education and training, enterprise resource planning and management, information assurance, knowledge management, modeling and simulation, network transformation and management and program management.

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/.

(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.

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.

AT&T Inc.

CONTACT: Alex Kepnes for AT&T Inc., +1-703-575-8900,
alex.kepnes@fleishman.com

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

Ingram Micro Announces 2008 Vendor Awards of Excellence WinnersThe Channel's No. 1 Distribution Partner Recognizes IT Vendors for Impressive Growth, Best Practices and Partner Enablement Programs at 2009 Marketing Symposium

SANTA ANA, Calif., Oct. 22 /PRNewswire/ -- Recognizing IT companies with smart partnership strategies, Ingram Micro Inc. today announced the winners of the 2008 U.S. Vendor Awards of Excellence, which were presented yesterday at the distributor's annual Marketing Symposium in Anaheim, Calif.

This year's winners include Best New Vendor, Fortinet, and Channel Community winner, Cisco. Other standout vendors included MX Logic who raised the bar to earn this year's 2008 Services Award for its success within Ingram Micro's Seismic Virtual Services Warehouse. In addition, the 2008 Leap Award was awarded to both EMC Corporation and Trend Micro for outstanding growth and partnership with Ingram Micro across the board.

Ingram Micro's 2008 Vendor Awards of Excellence recognize the distributor's leading and emerging technology manufacturers and software developers for outstanding IT Channel performance and partnership, as well as achievements against measurable objectives, such as revenue, profitability, marketing programs, solution provider support and services.

The winners of Ingram Micro's 2008 Awards of Excellence are: Best New Vendor Fortinet Channel Community Award of Excellence Cisco Components Intel Digital Signage Samsung Electronics America Imaging and Document Management Canon USA Infrastructure Hewlett Packard Leap Award EMC Corporation and Trend Micro Mobility Research in Motion Networking Cisco Peripherals NEC Display Solutions of America Security Juniper Networks Services MX Logic Software Citrix Systems, Inc. Systems and Notebooks Sony

"The 2008 Vendor Awards of Excellence winners have developed innovative ways of partnering with Ingram Micro and enabling our solution providers," says Brian Wiser, senior vice president sales and vendor management, Ingram Micro North America. "This group of high-performance channel vendors continues to go above and beyond to strengthen their channel partnerships by working side-by-side with Ingram Micro to develop and execute against channel programs and initiatives that drive value and generate business growth. We're pleased to recognize these vendors for their continued advocacy and partnership with Ingram Micro and our channel partners."

The 2008 annual awards ceremony was hosted by Ingram Micro's executive vendor management team and took place at Ingram Micro's Marketing Symposium on Oct. 21 at the Anaheim Marriott in Calif. To learn more about Ingram Micro's marketing services, visit http://www.ingrammicro.com/marketingservices.

About Ingram Micro

As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics services, technical support, financial services, and product aggregation and distribution. The company serves 150 countries and is the only broad-based global IT distributor with operations in Asia. Visit http://www.ingrammicro.com/.

Ingram Micro

CONTACT: Marie Meoli of WhiteFox Marketing & Communications,
+1-714-680-0335, marie.meoli@whitefoxpr.com, for Ingram Micro

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

Key Flight Software Delivered for Missile Warning Satellite Built by Lockheed Martin

SUNNYVALE, Calif., Oct. 22 /PRNewswire/ -- Lockheed Martin has delivered the latest block of flight software for the first geosynchronous orbit (GEO-1) spacecraft in the Space Based Infrared System (SBIRS) program.

The U.S. Air Force's SBIRS program is designed to provide early warning of missile launches, and simultaneously support other missions, including missile defense, technical intelligence and battlespace awareness.

The software is an interim version of the second of two major blocks of enhanced flight software designed to provide highly reliable spacecraft command and control operations. It provides the functionality necessary to begin Baseline Integrated System Testing (BIST), which will characterize the performance of the integrated satellite and establish a performance baseline prior to entering thermal vacuum testing next year.

Lockheed Martin Space Systems, Sunnyvale, Calif., prime contractor for the SBIRS program, has enhanced the SBIRS flight software architecture to enable robust command and data handling, fault management and safe-hold capabilities on the GEO satellite system.

"This delivery enables our team to begin baseline integrated system test which represents a key milestone on our path to integrate, test and deliver this system," said Jeff Smith, Lockheed Martin's SBIRS vice president and program manager.

The second flight software block contains applications that control space vehicle electrical power, temperature, attitude and navigation. It also features a robust fault management system, which responds when an anomaly is detected during on-orbit operations, putting the satellite into a safe state while operators on the ground analyze the situation and take corrective action.

Successful delivery of the final flight software block is necessary to support pre-launch spacecraft testing, including thermal vacuum testing which will validate spacecraft performance at temperature extremes greater than those expected during on-orbit operations.

Lockheed Martin is currently under contract to provide two HEO payloads and two GEO satellites, as well as ground-based assets to receive and process the infrared data. Both HEO payloads are on-orbit and performance meets or exceeds specifications.

Acoustic and pyroshock testing of the first GEO satellite began this month where the integrated spacecraft is subjected to the maximum sound and vibration levels expected during launch into orbit. Thermal vacuum testing is on track for mid-2009. After the extensive environmental and final integrated test phase, the spacecraft will be shipped to the Air Force in preparation for launch in fiscal year 2010 from Cape Canaveral Air Force Base, Fla.

Lockheed Martin Space Systems Company, Sunnyvale, Calif., and Northrop Grumman Electronic Systems, Azusa, Calif., the payload integrator, are developing SBIRS for the U.S. Air Force Space and Missile Systems Center. Air Force Space Command operates the SBIRS system.

Headquartered in Bethesda, MD, Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.

Media Contact: Steve Tatum, 408-742-7531; e-mail, Stephen.o.tatum@lmco.com

Lockheed Martin

CONTACT: Steve Tatum of Lockheed Martin,
+1-408-742-7531, Stephen.o.tatum@lmco.com

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

Colchester, Vermont Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Voice, Multimedia and Internet Access

COLCHESTER, Vt., Oct. 22 /PRNewswire/ -- In a continuing effort to provide the best wireless service for local residents in Chittenden County, Verizon Wireless has activated a new cell site. The new site increases wireless voice and data coverage and capacity along I-89, Roosevelt Highway, and Williston and Blakely Roads in Colchester, Vermont and the surrounding area.

Verizon Wireless has invested more than $45 billion since it was formed to increase the coverage and capacity of its national network and to add new services like BroadbandAccess and V CAST. Regionally the company has invested over $2.2 billion into its New England network, including over $100 million during the first six months of 2008. As a result of these investments, every Verizon Wireless cell site in New England provides wireless broadband connectivity.

"We've always believed that even the most advanced cell phone is only as good as the network it runs on," said director for Network Systems Performance for Verizon Wireless, Richard Enright. "We continue to aggressively invest into our wireless networks across New England to increase coverage and capacity for our customers."

BroadbandAccess offers computer users the nation's most reliable high- speed wireless mobile broadband network, operating at average upload speeds between 500 and 800 kbps, and download speeds between 600 kbps and 1.4 mbps over Verizon Wireless' BroadbandAccess with EV-DO Revision A network. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones.

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

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 who inspired the "can you hear me now" national advertising campaign. Nationally, these test men and women drive nearly 100 specially equipped vehicles almost 1 million miles annually on Interstate, U.S. and state highways as well as major roads and surface streets in high- population areas, based upon U.S. Census counts, to confirm that voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.

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: Michael Murphy of Verizon Wireless, +1-781-932-1213; or Marcia
Simon of Thomson Communications, +1-860-399-0191

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

Surfect Technologies Appoints Terry Gafron as Product Manager, Software

TEMPE, Ariz., Oct. 22 /PRNewswire-FirstCall/ -- Surfect Technologies, Inc. (BULLETIN BOARD: SUFH) , a leading provider of advanced interconnect and packaging solutions for solar cell, LED and power management applications, today announced the appointment of Terry Gafron to the position of Product Manager, Software.

Mr. Gafron has extensive experience in electrical engineering and automation programming. Previously, Mr. Gafron was employed at Micron Technology, Inc. from 2001 until 2008, most recently holding the position of Characterization/Instrumentation Engineer. At Micron, he was responsible for designing, programming, and implementing a wide range of test systems, involving memory and radio frequency (RF) wafer technology. He also started and ran an RF test equipment development company where he focused on providing leading RF test technology to customers working with local investors. Mr. Gafron has co-authored a number of technical articles on semiconductor technology and shares a portfolio of three patents, one of which has been granted and the others in various states of approval. Mr. Gafron holds a B.S.E.E. and M.S.E.E. from Boise State University in Idaho.

Steve Anderson, chief executive officer of Surfect, commented, "We are pleased to have Terry Gafron joining us as Product Manager, Software. His experience developing software and systems for a wide array of mechanical test equipment and wafer technology is well suited to support our goal of mass producing advanced metallization for solar wafers using our Direct Energy Plating (DEP(TM)) technology. Our closed cell tool also utilizes advanced Digital Signal Processing (DSP) technology that provides improved production monitoring and control as well as enabling customers to develop more complex deposition recipes. The combination of DEP(TM) and DSP technology enable a metal deposition tool that is more programmable and therefore more cost effective over the life of the tool. Furthermore, his proven track record in designing and implementing fully automated systems from start to finish at a substantially reduced cost will help ensure that our technologies are widely accepted in the marketplace."

About Surfect Technologies

Surfect develops and manufactures advanced interconnect solutions that are designed to support the growing demand for solar cell production by reducing the cost per delivered watt. The company's proprietary Direct Energy Plating(TM) (DEP) is an innovative multi-wafer capable, single-cell electroplating process that uses ultrasonic energy to create the metal interconnect on the silicon wafers. The computer-driven DEP process is a "plug-and-play" plating and integrated packaging solution that provides customers with benefits such as a lower cost of ownership, improved process speeds and yields, environmentally sensitive processes, increased operational flexibility and a smaller operational footprint. Additional information about the company is available at http://www.surfect.com/.

The information in this release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, particularly statements anticipating future growth in revenues. Words such as "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and words and terms of similar substance used in connection with any discussion of future operating or financial performance identify forward-looking statements. There can be no assurances that forward-looking statements will be achieved, and actual results could differ materially from those suggested by the forward-looking statements. Important factors that could cause actual results to differ materially include: the completion and filing of the applicable documents with the Securities and Exchange Commission and the Company's fulfillment of the obligations under the applicable indentures. Therefore, any forward-looking statements in this release should be considered in light of various important factors, including the risks and uncertainties listed above, as well as others. The Company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.

Surfect Technologies, Inc.

CONTACT: U.S. Investors, David K. Waldman or Klea Theoharis, Crescendo
Communications, LLC, +1-212-671-1020, or European Investors, Shaun Brown,
Innovator Capital, +44(20)7297-6840, or Media, Chenoa Taitt, Rooney &
Associates, +1-212-223-0682

Web Site: http://www.surfect.com/

Central European Media Enterprises Appoints Duco Sickinghe to Its Board of Directors

HAMILTON, Bermuda, Oct. 22 /PRNewswire-FirstCall/ -- Central European Media Enterprises Ltd. ("CME") (Nasdaq/Prague Stock Exchange: CETV) today announced it has appointed Mr. Duco Sickinghe as a member of CME's Board of Directors, effective October 22, 2008.

Commenting on the announcement, Ronald Lauder, Chairman of CME, said: "We are delighted to welcome Duco to the Board. He brings more than 20 years of insight and experience in the technology and media industries and will be a great resource for CME as we continue to execute on our strategic growth initiatives."

Herbert Granath, Vice Chairman of CME, commented: "Duco has a wealth of knowledge, specifically in Internet, digital TV and premium channel businesses. With strong business acumen, he will be a valuable addition to the Board and we look forward to his contributions to the Company."

Duco Sickinghe said: "CME has established itself as the leading broadcaster in Central and Eastern Europe and created a unique footprint across seven countries. I look forward to contributing to the Company's future success and working with my fellow Board members as we seek to achieve CME's strategic goals."

Duco Sickinghe is the Chief Executive Officer and Managing Director of Telenet Group Holding in Mechelen, Belgium. Telenet is a Flemish cable operator that is a leader in broadband Internet, digital TV, Wi-Fi, fixed telephony and mobile services. The company runs its own premium sports and movie channels and generated approximately $1.3 billion of revenue in 2007.

Prior to Telenet, Mr. Sickinghe worked for Wolter-Kluwer Professional Publishing in a variety of roles, including Manager of Sales & Marketing, Division General Manager in The Netherlands and European Manager of Internet Ventures. In 1994, Mr. Sickinghe founded and was Chief Executive Office of Software Direct, a large scale distributor of software, which later became a joint venture with Hachette Distribution Services in Paris. Prior to that, he was the Vice President of Marketing for Europe and then General Manager for France of NeXT Computer.

Mr. Sickinghe started his career in finance with Hewlett-Packard in its European headquarters in Switzerland. At various stages during his tenure at HP, Mr. Sickinghe served as the Product Marketing Manager for the Laserjet product line in Europe and as Channel Development Manager for Europe. Mr. Sickinghe holds a Bachelor degree and Master in Law from the University of Utrecht in The Netherlands and a Master of Business Administration from Columbia University.

CME is a broadcasting company operating leading networks in seven Central and Eastern European countries with an aggregate population of approximately 97 million people. CME's television stations are located in Bulgaria (TV2 and Ring TV), Croatia (Nova TV), Czech Republic (TV Nova, Nova Cinema, Nova Sport and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, PRO Cinema, Sport.ro and MTV Romania), Slovakia (Markiza, Nova Sport and MTV Czech), Slovenia (POP TV, Kanal A) and Ukraine (Studio 1+1, Studio 1+1 International, Kino, Citi). CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol "CETV".

For further information visit: http://www.cetv-net.com/

Central European Media Enterprises Ltd.

CONTACT: Romana Tomasova, Director of Corporate Communications of
Central European Media Enterprises, +44-20-7430-5357,
romana.tomasova@cme-net.com

Web Site: http://www.cetv-net.com/

Perot Systems to Webcast Third Quarter 2008 Results of Operations on November 4th

PLANO, Texas, Oct. 22 /PRNewswire-FirstCall/ -- Perot Systems Corporation today announced that the company will webcast a conference call with senior management on Tuesday, November 4, 2008 at 10:15 a.m. (EST) to discuss the Third Quarter 2008 Results of Operations. Interested parties may access the webcast via the company's web site at http://www.perotsystems.com/.

About Perot Systems

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

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

INVESTOR CONTACT: MEDIA CONTACT: John Lyon Joe McNamara phone: (877) PER-NYSE phone: (972) 577-6165 fax: (972) 577-6791 fax: (972) 577-4484 Invest@ps.net joe.mcnamara@ps.net

Perot Systems Corporation

CONTACT: Investors, John Lyon, 1-877-PER-NYSE, fax, +1-972-577-6791,
Invest@ps.net, or Media, Joe McNamara, +1-972-577-6165, fax, +1-972-577-4484,
joe.mcnamara@ps.net, both of Perot Systems Corporation

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

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

New Xbox 360 Game 'Lips' Gets the Party Singing This Holiday SeasonNew singing game offers 40 songs spanning genres and decades from artists including Beyonce, Lupe Fiasco, Nirvana and Rascal Flatts, and two wireless microphones, for $69.99.*

REDMOND, Wash., Oct. 22 /PRNewswire-FirstCall/ -- Calling all shower singers, rush-hour traffic vocalists, wanna-be rappers, pop princesses and those with a country twang: "Lips," the highly anticipated singing experience exclusively for Xbox 360 from iNiS Corp., will be available in mid-November 2008. Picture throwing a "Lips" party for your closest friends where everyone sings and grooves to a vast array of music backed by the original music video, lyrics and scoring. Not only can everyone sing along, but "Lips" is the only music video game that comes with two wireless motion-sensitive microphones, allowing the freedom to put on the ultimate performance. Your parties will never be the same!

(Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO)

All 40 songs on disc are ready to play right out of the box, and "Lips" delivers great tracks from a wide range of musical genres that will set the stage for evenings of fun and entertainment with friends and family.

Artist Song Title Artist Song Title a-ha "Take on Me" Nirvana "In Bloom" Alicia Keys "No One" Peter Bjorn and "Young Folks" John Aly & AJ "Potential Break Queen "Another One Bites Up Song" the Dust" Avril Lavigne "Complicated" R.E.M. "The One I Love" Ben E. King "Stand by Me" Radiohead "Fake Plastic Trees" Beyonce "Irreplaceable" The Ramones "I Wanna Be Sedated" Blondie "Call Me" Rascal Flatts "Stand" Chris Brown "With You" Rihanna "Umbrella" Coldplay "Yellow" Roxette "Listen to Your Heart" Depeche Mode "Personal Jesus" Sara Bareilles "Love Song" Destiny's Child "Survivor" Sheryl Crow "Soak Up the Sun" Dido "White Flag" Taylor Swift "I'm Only Me When I'm With You" Duffy "Mercy" The Bangles "Walk Like an Egyptian" Duran Duran "Hungry Like the The Fray "Over My Head Wolf" (Cable Car)" John Denver "Take Me Home, The Jackson 5 "ABC" Country Roads" Johnny Cash "Ring of Fire" The Police "Every Little Thing She Does Is Magic" Leona Lewis "Bleeding Love" The Raveonettes "Love in a Trashcan" Lil' Mama "Lip Gloss" Trace Adkins "Ladies Love Country Boys" Lupe Fiasco "Superstar" Weezer "Island in the Sun" (featuring Matthew Santos) Maroon 5 "Makes Me Wonder" Young MC "Bust a Move"

Regardless of whether you consider yourself a singer or typically shy away from the microphone, there's something for everyone in "Lips," including the following:

-- Party Games. "Lips" has a variety of gameplay modes that will appeal to the gamer in all of us and possibly spark a little competition, while allowing you to experience and interact with your music in fun, new ways: -- Kiss is the epitome of singing and flirting your way to a sweet reward, where duos who hit the notes and gestures together meet in the middle to share a kiss. Are you a match? -- Vocal Fighters appeals to the competitor in all of us by pitting singers in one-on-one competition to win the most fans and boot one another off the stage. It's a sing-off! -- Time Bomb is a cooperative mode where players work together to perform well and stave off a time bomb. The clock is ticking! -- Music videos. "Lips" has a variety of engaging music videos that enhance the game outside the original videos included with most songs: -- Virtual Music Videos. The more you get into your performance, the better the video. An in-game virtual music video will enhance your performance because the screen will mirror your moves and the characters will lip-sync along with you. -- Custom Music Videos. These unique, quirky videos add a humorous element to your routine and provide a music video for songs that may not have one. -- Freestyle Mode. "Lips" also allows you to use digital rights management-free songs from your own music collection when singing or playing any of the Party Games. Sing along to your music collection and play up your gestures to add to your score, while a virtual music video accompanies your performance. It is as simple as plugging in your compatible MP3 player. Lyrics will not display for songs from your music collection. For a list of compatible music players, visit http://www.xbox.com/lips. -- Play along. In addition to using the two mics as instruments, four of your friends can join in using the standard Xbox 360 Controller and choose from a variety of percussion accompaniment to play along with the music in "Lips." -- Download new songs. For those who like what they see and crave more, "Lips" will also have a regular flow of downloadable content available for purchase via the Xbox LIVE Marketplace, starting at game launch. Love Estelle's "No Substitute Love"? It is there. You can get it and the latest tracks to continually update your "Lips" experience. -- Split parts. Co-op Mode in "Lips" is designed to more accurately reflect songs that feature multiple vocalists. This gameplay mode enhances the experience by showing the lyrics and melody to all parts, helping turn a singing duo into a professional act.

If you want to be the first to get your hands on this premier singing game, pre-orders are available now at GameStop and Amazon.com. Not only will you have this hot game the day it is available, but a pre-order will give you a card that allows you to download one song per week (songs chosen by Zune) for two months on Zune Marketplace. "Lips" is rated "T" for Teen and will be available mid-November in all major retail stores nationwide. More information about "Lips," this holiday's hottest party game, can be found at http://www.xbox.com/lips.

About Xbox 360

Xbox 360 is a premier video game and entertainment system. It is home to the best and broadest games and more entertainment than any other device connected to the TV. The digital center of the living room, Xbox 360 blends unbeatable content, including personal pictures and music, with a unified online social network to create a limitless entertainment experience that can be shared at home or across the globe. More information can be found online at http://www.xbox.com/xbox360.

About Microsoft

Founded in 1975, Microsoft is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

* Estimated U.S retail price; actual retail prices may vary.

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Microsoft Corp.

CONTACT: Joe DiMiero, +1-323-202-1063, joe.dimiero@edelman.com, or
Michael DaRe, +1-323-202-4847, mdare@taylorpr.com, for Microsoft Corp.

Web site: http://www.microsoft.com/
http://www.xbox.com/lips

ORBIT/FR Reports Significant New International Orders

HORSHAM, Pa., Oct. 22 /PRNewswire-FirstCall/ -- ORBIT/FR, Inc. (BULLETIN BOARD: ORFR) , a Microwave Vision Company, and a leading producer of automated microwave test and measurement systems for the aerospace, defense, communications, automotive and satellite industries, has recently been awarded contracts from European and Asian customers totaling approximately $3M.

These contracts are for medium and heavy duty Far-Field and Near-Field systems including an indoor Far-Field antenna measurement system that features a compact range reflector, precision mechanical positioning system, and a data acquisition/software suite.

"These awards reaffirm ORBIT/FR's global presence and strong capabilities to deliver high value antenna measurement solutions. The recent orders are rebuilding our backlog and provide assurance of the outlook for 2009." said Per Iversen, CEO of ORBIT/FR."

Except for historical information, the matters discussed in this news release may be considered "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. Such statements include declarations regarding the current intent, belief or expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements, including those regarding the ability to obtain and perform new contracts, obligations by the Company or its customers, satisfy customer needs and successful implementation of the Company's technology, involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2007 and Forms 10-Q.

ORBIT/FR, Inc.

CONTACT: Relland Winand, Chief Financial Officer of ORBIT/FR, Inc.,
+1-215-674-5100, Rellandw@orbitfr.com

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

Saturn Teams Up With CBS Interactive to Create New Original Web Series 'Novel Adventures,' Premiering Monday, Nov. 3Original Concept and Script Written by Jonathan Prince, Creator of "The Cleaner"New Web Series To Be Produced by CBS Paramount Network Television, Distributed by CBS Interactive and Promoted on the CBS Television Network

LOS ANGELES and SAN FRANCISCO, Oct. 22 /PRNewswire/ -- CBS Interactive announced today a partnership with Saturn to launch its new original scripted Web series "Novel Adventures" from creator Jonathan Prince ("The Cleaner"), who has a first look deal with CBS Interactive's sister division, CBS Paramount Network Television. The eight-Webisode series will premiere on November 3 exclusively on CBS.com, TheInsider.com, and TV.com and stars Daphne Zuniga ("One Tree Hill"), Paola Turbay ("Cane"), Ashley Williams ("How I Met Your Mother") and Jolie Jenkins ("Desperate Housewives").

Each episode will be presented exclusively for a 48-hour window on CBS.com, TheInsider.com and TV.com and then roll out across the CBS Audience Network as well as be available on iTunes. Two new Webisodes will be released per week for the first two weeks, followed by a single new Webisode a week for the remainder of the series. NOVEL ADVENTURES will be promoted across CBS Interactive platforms and in prime time on the CBS Television Network.

Set in various locations throughout Los Angeles and shot in high-definition, NOVEL ADVENTURES is the story of four women from different backgrounds and at different stages in their lives who join a Book Club in hopes of escaping the obstacles presented by everyday life. They come together through their shared passion for books at a weekly book club, but quickly realize what they are really looking for is adventure. And so, inspired by a different book each week, the four embark on a variety of adventures that help them fulfill their lives while taking them to a new and exciting place each week.

"This is a new media model that makes creative and financial sense for Saturn and CBS Interactive -- a high quality, high concept scripted series that is fully sponsored, widely distributed and backed by the promotional power of a major media company, including its broadcast network," said Prince, who was asked by Saturn to create the series and then brought it to CBS. "We get to tell great stories with an A+ cast and crew, Saturn gets creative and seamless promotion for its new line of cars, and CBS Interactive offers its flagship Web sites and Audience Network high-production-value content."

"We're constantly looking for innovative and creative ways to showcase our new line-up of Saturn vehicles," said Jill Lajdziak, Saturn's General Manager. "In this case, we wanted to do something online that could leverage today's active social networking environment. Most importantly, it had to be a high quality body of entertainment that our target audience would enjoy. This property will deliver."

"We're excited about this property because we've created a way to extend the show's Saturn content in an engaging manner -- amongst a very targeted audience. And we're ensuring that the interaction with this audience will not be a passive experience, but an active one. NOVEL ADVENTURES was born from sharing our needs with Jonathan Prince, who has proven to find impactful ways integrating brands into entertainment," said Dino Bernacchi, General Motors' Director of Branded Entertainment. "Together, we agreed that the media partner who had the vision, capabilities and creative collaboration to help make this big and successful was CBS."

"NOVEL ADVENTURES offers the complete package -- network-quality storytelling from a top producer working within the confines of online, plus best-of-breed online distribution, and promotion across relevant Web properties and network television to drive awareness," said Anthony Soohoo, Senior Vice President and GM of CBS Interactive Entertainment division. "All while creating an entertainment experience where the audience can more genuinely connect to the show, it characters and the brands, such as Saturn, portrayed in the Webisodes."

Following is a list of the eight Webisodes in order of appearance: -- The Sand and Sea Club: To honor Hemingway's classic tale The Old Man in the Sea, the girls head out for an afternoon of deep-sea fishing and end up with a surf lesson from a male model from Malibu. -- The Fab Four: Sheila Weller's Ladies of the Canyon (Joni Mitchell, Carly Simon, and Carole King) brings the groupie out in the girls who are determined to live out the life of rock legends. -- Spy Girls: The Bourne Trilogy by Robert Ludlum leads the ladies to Spy School. -- Whodunnit? We dunnit: The Monster of Florence by Douglas Preston is the backdrop for the girl's chance to find out how to solve mysteries, CSI-style. -- If You Can't Take the Heat: This adventure is inspired by writer Kathleen Flinn's book titled The Sharper Your Knife, the Less You Cry. Based on her adventures at Le Cordon Bleu, it leaves the girls starving for an epicurean adventure. -- The Prince and the Perfect Taco: With mixtures of inspiration from Margaret Mitchell's Gone With the Wind and Knit Two by Kate Jacobs, the sequel to her bestselling book, Friday Night Knitting Club, the girls search for the urban myths of a gypsy taco truck and the perfect man. -- Bare Essentials: Betty Friedan's autobiography titled Life So Far leads the girls to find their own power, ironically, thru pole dancing classes. -- But You've Got to Have Friends: The Guernsey Literary & Potato Peel Society by Mary Ann Shaffer & Annie Barrows helps the ladies cap off their book club with a final look at their past experiences and opening the door to more adventures in the future. Cast:

DAPHNE ZUNIGA AS LAURA, a recently divorced mother of a teenage son, who having found herself in a rut, looks to shake things up with her new friends.

PAOLA TURBAY AS JOANNA, a single, successful entertainment attorney who must balance the expectations of her career and her mother who just wants her to get married.

ASHLEY WILLIAMS as Lizzie, a recently married young woman struggling to cope with life in a new city, a work-a-holic husband, and too much time on her hands.

JOLIE JENKINS as Amy, a happily married woman who runs a high-end bakery, but is still missing something -- a baby -- in her seemingly perfect life.

In addition to watching the series online, viewers are invited to participate in the adventures by visiting http://www.cbs.com/noveladventures, where they will find bonus content as well as blogs and vlogs organized by character, Webisode and book. A variety of community tools are also available, including:

-- Commenting, Rating, & Reviews - Fans can post comments and rate each Webisode, as well as rate and review the books the women read and their adventures -- Suggest a Book - Viewers can submit suggestions for books to be covered in future Webisodes -- Quizzes - A variety of quizzes are available about the books, activities and Webisodes -- Discussion Boards - Forums for discussing the books or authors featured on the show, including chats with the actual authors -- Fan Favorites - Viewers can become a fan of a book and/or author, get reviews, join discussions, and more About CBS Interactive

CBS Interactive, a division of CBS Corporation, is the best online content network for information and entertainment. Its portfolio of leading brands, which include CNET, CBS.com, CBSSports.com, GameSpot, TV.com, BNET, and Last.fm span popular categories like technology, entertainment, sports, news, and business. With more than 150 million people visiting its properties each month, CBS Interactive is a top 10 Web property globally.

About Saturn

Saturn, a division of General Motors Corp., markets vehicles in the U.S. and Canada through a network of about 440 retailer locations, with a focus on providing innovative products with solid value and excellent customer service. The brand has one of the freshest lineups in the industry with five new vehicles: the Sky roadster, the Aura midsize sedan, the Vue compact crossover, the midsize Outlook crossover and the Astra sport compact car. For the 2009 model year, Saturn will offer three hybrids: the Vue Hybrid, Aura Hybrid and the Vue 2 Mode Hybrid.

CBS Interactive

CONTACT: CBS Interactive, Leslie Van Every, +1-415-344-2129,
leslie.vanevery@cbs.com; or CBS Paramount Network Television, Jennifer Solari,
+1-818-655-7222, jennifer.solari@cbsparamount.com; or General Motors, Steve
Janisse, +1-313-665-2133, Steve.janisse@gm.com

Web Site: http://www.cbs.com/noveladventures

TalentManager(R) from Salary.com(TM) Shines in the Industry's First Integrated Talent Management Shootout at the 11th Annual HR Technology(R) Conference & ExpositionSalary.com's Unique Job Model Enhances its Ability to Help HR Practitioners Deploy Competency-Based Talent Management Processes in a Single On-Demand System

WALTHAM, Mass., Oct. 22 /PRNewswire-FirstCall/ -- Salary.com, Inc. , a leading provider of integrated compensation and talent management solutions, announced today the successful showing of its TalentManager application in the industry's first integrated talent management Shootout at the HR Technology Conference & Exposition held in Chicago last week. Salary.com's success in the shootout comes on the heels of TalentManager winning the 2008 Human Resource Executive Product of the Year Award, with the application being cited for its best-in-class succession planning capabilities. Salary.com demonstrated the benefits of a fully integrated talent management software suite, providing HR executives and managers the ability to recognize high performers, identify business performance issues, close skills gaps and optimize talent decision-making with integrated business intelligence across compensation, performance and succession functions.

As one of four vendors ultimately selected for the shootout (from a pool of 17 talent management software companies), Salary.com excelled in linking employee compensation with performance and officially tied for second place with Cornerstone OnDemand and Softscape, while Authoria was announced the overall winner.

Salary.com's chief executive officer, Kent Plunkett, delivered a powerful overview of TalentManager's unique ability to search for and select internal job candidates based on a combination of requirements including competencies, performance, readiness, potential and promotability for each position being planned. The testing of TalentManager's capabilities across a series of hypothetical talent management and succession planning scenarios wowed conference attendees and resulted in Salary.com's strong showing.

"We're very happy with TalentManager's strong finish in the first integrated talent management shootout at HR Tech," said Plunkett. "As always, the competition was spirited and we're pleased with the enthusiasm the audience showed in response to TalentManager's ability to help them identify, reward and retain their highest performing employees. The accolades we received from the audience of HR practitioners -- coupled with our winning the 2008 Top Product of the Year award -- affirms that our product vision is in lockstep with customers' needs."

Bill Kutik, co-chairman of the HR Technology Conference & Exposition and contributing writer for Human Resource Executive(R) Magazine, acknowledged Salary.com's strong presentation during the shootout. "While the competition was intense throughout the shootout, Salary.com impressed attendees with its differentiated job-model approach and strong linkages from pay to performance. We look forward to watching Salary.com continue to build a top talent management brand."

About Salary.com, Inc.

Salary.com is a leading provider of on-demand compensation and talent management solutions helping businesses and individuals manage pay and performance. Salary.com's highly configurable software applications, proprietary data and consulting services help HR and compensation professionals automate, streamline and optimize critical talent management processes including: market pricing, compensation planning, performance management, competency management and succession planning. Built with compensation and competency data at the core, Salary.com solutions provide businesses of all sizes with the most productive and cost-effective way to manage and inspire their most important asset -- their people. For more information, visit http://www.salary.com/.

Human Resource Executive's Technology(R) Conference & Exposition is Produced and Presented by Human Resource Executive(R) Magazine, LRP Publications and LRP Conferences, LLC, and is a registered trademark of Human Resource Executive Conferences

Safe Harbor Statement

This release contains "forward-looking" statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may," "will," "expects," "projects," "anticipates," "estimates," "believes," "intends," "plans," "should," "seeks," and similar expressions. This press release contains forward-looking statements relating to, among other things, Salary.com's expectations and assumptions concerning future performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. The risks and uncertainties referred to above include, but are not limited to, our ability to continue to release and gain customer acceptance of new and improved versions of our service, successful customer deployment and utilization of our services, our ability to expand our customer base and product and service offerings, interruptions or delays in our service or our Web hosting, our business model, breach of our security measures, the emerging market in which we operate, our ability to hire, retain and motivate our employees and manage our growth, and competition, as well as those risks and uncertainties described in Salary.com's filings with the Securities and Exchange Commission. Salary.com expressly disclaims any obligation to update any forward-looking statements. (SLRY-F)

Salary.com, Inc.

CONTACT: Media and Analysts, Rob Halpin of Version 2.0 Communications
for Salary.com, Inc., +1-617-426-2222, rhalpin@v2comms.com

Web site: http://www.salary.com/
http://www.hrtechconference.com/

Litchfield County Residents to Benefit from Verizon Wireless Network ExpansionInvesting to Stay Ahead of Growing Demand for Wireless Voice, Multimedia and Internet Access

TORRINGTON, Conn., Oct. 22 /PRNewswire/ -- In a continuing effort to provide the best wireless service for local residents in Litchfield County, Verizon Wireless has activated six new cell sites. This most recent network investment increases wireless coverage and capacity throughout the communities of Cornwall, New Milford, Oakville, Sharon, and Torrington and to Mohawk Mountain.

Verizon Wireless has invested more than $45 billion since it was formed to increase the coverage and capacity of its national network and to add new services like BroadbandAccess and V CAST. Regionally the company has invested over $2.2 billion into its New England network since the company was formed, including over $100 million during the first six months of 2008. As the wireless carrier with America's largest 3G network, every Verizon Wireless cell site in New England provides wireless broadband connectivity.

"We've always believed that even the most advanced cell phone is only as good as the network it runs on," said Director for Network Systems Performance for Verizon Wireless, Richard Enright. "We continue to aggressively invest in our wireless networks in Connecticut and across the country to increase coverage and capacity for our customers."

BroadbandAccess offers computer users the ability to access the Internet wirelessly on the nation's most reliable high-speed wireless mobile broadband network, operating at average upload speeds between 500 and 800 kbps, and download speeds between 600 kbps and 1.4 mbps. V CAST brings video clips of TV shows, music on demand and other multimedia services to wireless phones.

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

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 who inspired the "can you hear me now" national advertising campaign. Nationally, these test men and women drive over 90 specially equipped vehicles almost 1 million miles annually on Interstate, U.S. and state highways as well as major roads and surface streets in high-population areas, based upon U.S. Census counts, to confirm that voice calls and data connections are successful on the first attempt and stay connected. Vehicles are equipped with computers that automatically make more than three million voice call attempts and more than 16 million data tests annually on Verizon Wireless' network and the networks of other carriers.

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: Michael Murphy of Verizon Wireless, +1-781-932-1213; or Marcia
Simon of Thomson Communications, +1-860-399-0191, for Verizon Wireless

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

Kirkland, Wash., Awards Video Franchise to VerizonVote Paves the Way for Innovative, Competitive Choice for TV Service, Delivered Over the Nation's Most Advanced, All-Fiber-Optic Network Straight to Consumers' Homes

EVERETT, Wash., Oct. 22 /PRNewswire/ -- Residents of Kirkland are a major step closer to having an innovative, reliable and competitive alternative for their television services, thanks to a unanimous vote by the City Council Tuesday night (Oct. 21) authorizing Verizon to offer its fiber-optic-powered FiOS TV.

Kirkland is the 14th community in the state to grant a video franchise to Verizon, following recent approvals in Bothell, Brier, Edmonds, Everett, Kenmore, Lynnwood, Marysville, Mountlake Terrace, Mukilteo, Redmond, Woodinville, Woodway and Snohomish County. The company launched FiOS TV in Washington last month and plans to offer the service in Kirkland shortly.

FiOS TV offers consumers a broad range of programming choices, including 98 high-definition (HD) channels in the region, giving customers more HD channels than Comcast. In addition, FiOS TV offers superior picture quality from the only TV service delivered over the nation's most advanced all-fiber network directly connecting to millions of individual homes and businesses.

"Approval of Verizon's video franchise is great news for the residents of Kirkland, who will soon have more choice for their video entertainment," said David S. Valdez, senior vice president for Verizon's Pacific Northwest region. "We commend the mayor, City Council and city staff for their dedication and hard work throughout this process. They recognize and support the technological advantage and competitive benefits, as well as the distinctive edge in economic development and quality of life, that fiber will bring to their community.

"We look forward to reaching similar agreements with other Washington communities," said Valdez.

The franchise vote gives Verizon the authority to offer FiOS TV to up to 22,000 households in Kirkland. Many Verizon customers in Washington are already enjoying FiOS Internet service, which delivers ultra-fast download speeds up to 50 Mbps (megabits per second).*

Verizon already provides FiOS TV in parts of California, Delaware, Florida, Indiana, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Texas and Virginia.

FiOS TV Service Highlights FiOS TV service highlights include: -- More than 400 all-digital channels grouped by genres such as entertainment, sports, news, shopping, movies and family, making it easy for audiences to find their favorite programming. -- Availability of 98 HD channels in the local market, with extraordinary clarity and theater-quality sound. The company plans to offer all available major HD programming by year-end. -- An industry-leading library of more than 11,000 video-on-demand (VOD) titles each month, 70 percent of which are free. In addition, Verizon offers an increasing number of on-demand titles in HD, and plans to offer 1,000 HD VOD titles per month by the end of the year. -- An innovative interactive media guide (IMG) that helps customers quickly and easily find and enjoy content from TV listings, VOD catalogs and the digital video recorder (DVR) as well as personal music and photos from a home network. Among the features of the IMG are: -- Multi-Room DVR -- Verizon's Home Media DVR allows customers to stream recorded HD and standard-definition (SD) programs to up to six other TV sets throughout the home. This includes the ability to watch three separately recorded shows on three TV sets at the same time, plus pause recorded programming in one room and continue watching in another. -- Widgets -- Customers have one-touch, on-demand access to local weather and traffic reports shown on TV screens, while they're watching their favorite shows. Widgets provide local traffic and weather reports, daily local and national news headlines, daily national sports headlines, community news, and daily horoscopes. -- Free casual games -- With the remote control and an HD set-top box, customers can access chess, solitaire and wordplay. -- "What's Hot on FiOS TV" -- Features information on the most-popular programs currently being broadcast in the region and the most popular VOD titles. -- "Wait for Me" - Allows customers to pause live programming, change channels, and then return to the paused program and pick up where they left off. -- Channel sorting options -- Customers can create two separate lists of favorite channels for family members. Customers also can filter channels in the guide by genre, for instances where a customer may only want to see HD content, international channels or kids programming, among others.

Programming choices for Hispanic, African-American, Asian, Russian and other multicultural audiences are available in every market, making FiOS TV an outlet for emerging and independent networks to showcase their diverse programming.

Consumers can check online at http://www.verizon.com/fios for more information or to request that Verizon contact them when FiOS TV becomes available. Customers also can call their local Verizon sales office or 888-GET FiOS (888-438-3467).

FiOS TV is delivered over Verizon's all-fiber-optic network, which brings the power and capacity of fiber optics directly into people's homes and has industry-leading quality and reliability. Fiber delivers amazingly sharp pictures and sound, and has the capacity to transmit a wide array of high-definition programming that is so clear and intense it seems to leap from the TV screen. It also delivers Internet download speeds of up to 50 Mbps* (megabits per second) and upload speeds of up to 20 Mbps, as well as high-quality voice services.

* NOTE: actual (throughput) speeds will vary.

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

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

Verizon

CONTACT: Jon Davies, +1-805-372-6969, jon.davies@verizon.com

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

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

'CSI: Miami's' Jonathan Togo to Star in Atom.com's Release of 'My Best Friend Is My Penis'Online Buddy Comedy Series "My Best Friend Is My Penis" Premieres On Atom.com On Wednesday, October 22COMEDY CENTRAL To Air Episodes Of "My Best Friend Is My Penis" During The Late Night Series "Atom TV"

NEW YORK and SAN FRANCISCO, Oct. 22 /PRNewswire/ -- MTVN Entertainment Group's Atom.com, a digital comedy network and COMEDY CENTRAL's exclusive partner and anchor brand for original digital comedy content, announced today the launch of its new Web series "My Best Friend Is My Penis" at http://mybestfriend.atom.com/. Created by and starring "CSI: Miami's" Jonathan Togo and comedian Will Carlough, "My Best Friend Is My Penis" is a four-episode online buddy comedy that premieres on Wednesday, October 22.

"'My Best Friend Is My Penis' is a stroke of creative genius," said Megan O'Neil, vice president, acquisitions and productions, Atom.com. "Jon and Will really tapped into Atom.com's core nature -- random, timely and out of touch with normal standards of good taste."

"When Will and I set out, we aimed to pick up where movies such as 'Waiting To Exhale' and 'Steel Magnolias' left off," said Jonathan Togo. "Somehow we ended up with a guy with a talking penis. Thanks COMEDY CENTRAL and Atom!"

"My Best Friend Is My Penis" follows the adventures of best friends Jon and Will -- who never let anything get in the way of their friendship. This special buddy comedy takes a look at the crazy things that happen when your best friend is really your penis -- including major dating issues, as seen in episode one, "Meet My Best Friend," available today. Episode two, "Puppet," will debut online on Friday October 24.

COMEDY CENTRAL will also air episodes of "My Best Friend Is My Penis" in their weekly half-hour late night show "Atom TV" on December 8. "My Best Friend Is My Penis" will also be available across Atom's multiplatform distribution network, including partners such as iTunes.

Produced by Crossroads Films, "My Best Is My Penis" was written by and stars Jonathan Togo and Will Carlough. Togo, who stars as Ryan Wolfe from "CSI: Miami" also directed the Web series. Carlough is an Atom regular who has written and starred in many successful videos including the 2008 Star Wars Fan Movie Challenge Best Comedy Winner "Tarkin 'n Friends."

About Atom.com

Atom.com, a division of Viacom Inc.'s MTV Networks, is a digital comedy network for young men that reaches millions of consumers each month on the Atom.com Web site and millions more through multiplatform distribution on television, mobile phones, and the Internet. Drawing on a strategic partnership with COMEDY CENTRAL and its own 10-year history of online video innovation and leadership (formerly as AtomFilms), Atom.com delivers Web comedy like nobody else.

About COMEDY CENTRAL

COMEDY CENTRAL, the only all-comedy network, currently is seen in more than 95 million homes nationwide. COMEDY CENTRAL is owned by, and is a registered trademark of, Comedy Partners, a wholly-owned division of Viacom Inc.'s MTV Networks. COMEDY CENTRAL's Internet address is http://www.comedycentral.com/.

About Crossroads Films

Formed in 1989, Crossroads Films is a multi-media communications production company with offices in New York, Los Angeles and London. Crossroads develops and produces original content for feature films, TV, Web and alternative media. Recent productions include "The Cho Show" for VH-1 and the feature film 'Snow Angels" staring Sam Rockwell and Kate Beckinsale. http://www.crossroadsfilms.com/

MTVN Entertainment Group

CONTACT: Aileen Budow, MTVN Entertainment Group, +1-212-767-3952,
aileen.budow@mtvn.com

Web Site: http://atom.com/
http://www.comedycentral.com/
http://www.crossroadsfilms.com/

Harris Corporation Receives 2008 Most Valuable Pollution Prevention AwardMajor Reduction in Manufacturing Waste and Water Usage at Quincy Transmitter Manufacturing Plant Establishes Harris as an Environmental Leader

QUINCY, Ill., Oct. 22 /PRNewswire-FirstCall/ -- Harris Corporation , an international communications and information technology company, announced that its Quincy, Illinois, manufacturing facility has received a 2008 Most Valuable Pollution Prevention (MVP2) award for its longstanding efforts in pollution prevention and dedication to protecting people, property and the environment.

Harris was one of five companies or organizations nationwide to receive this year's award, presented by the National Pollution Prevention Roundtable (NPPR) in Washington, D.C. Andy Edgar, senior manager of facilities and environmental compliance, and Phil Timmons, director of Quincy operations, accepted the award on behalf of Harris Broadcast Communications. The NPPR honored Harris Broadcast's radio and television broadcast transmitter manufacturing facility in Quincy for its major reductions in waste, energy consumption and water usage.

Harris received the MVP2 Award based on several employee-empowered pollution prevention projects, including a closed-loop water cooling system that has reduced water usage in its product testing process by nearly 21.6 million gallons per year. The company also implemented several toxicity reduction projects to eliminate toxic heavy metals and raw material impurities from the manufacturing processes. The result is a 30-to-35 cubic yard reduction in waste that equates to a 75 percent decrease in hazardous waste volumes from its wastewater pretreatment operation, and a 50 percent pretreatment chemical usage reduction.

"Harris has clearly demonstrated that pollution prevention is beneficial to both the environment and the economy," said Jeffrey Burke, executive director of NPPR. "Harris is being recognized for its leadership and commitment to promoting a sustainable future."

Harris has a longstanding commitment to pollution prevention and protecting the environment. For example, the company's Quincy operation has been a four-time recipient of the Illinois Governor's Pollution Prevention Award and has received a Community Green Award for its efforts in recycling and waste volume reductions. The Quincy operation also has received an Industrial Achievement Award form the Illinois Association of Water Pollution Control Operators. The long-standing, well-established pollution prevention programs are based on a commitment that reaches from upper management across the entire spectrum of employees.

Harris employees around the world are actively engaged in sustainability issues such as product take-back, recycling, resource conservation and material substitution. In 2007, Harris surpassed 1 million pounds of waste diverted from the world's landfills. In addition, the effective use of reclaimed ground water or surface water for landscape irrigation at the company's Florida facilities reduced the need for potable and ground water by more than 20.6 million gallons in 2007.

"Harris is committed to ensuring that it remains a responsible corporate citizen of the communities we live in, and we are spearheading these efforts through employee-driven campaigns," said Tim Thorsteinson, president of Harris Broadcast Communications. "We strive to be viewed as a company that is proactive in the community and are committed to raising environmental awareness. This is achieved by reducing pollution generated from our facilities and minimizing our impact on the environment."

Harris Broadcast Communications offers products, systems and services that provide interoperable workflow solutions that span the entire media delivery chain. The Harris ONE(TM) solution brings together highly integrated and cost-effective products that are ideal for emerging media business models and for customers upgrading media operations to digital and high-definition services.

About Harris Corporation

Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of $5.3 billion and 16,000 employees - including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(R) products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com/.

Harris Corporation

CONTACT: Robin Hoffman of Pipeline Communications, +1-973-746-6970,
robinhoffman@pipecomm.com, for Harris Corporation

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

AT&T Business Solutions Unit Enhanced Its Enterprise Portfolio With New Services and Features During Third Quarter 2008Quarterly Highlights Also Include Significant Sales Wins

DALLAS, Oct. 22 /PRNewswire-FirstCall/ -- New services and features for delivering on-demand applications, digital content and enterprise applications across a variety of mobile devices were third-quarter highlights for the AT&T Business Solutions (ABS) unit, AT&T Inc. announced today.

During the third quarter 2008, AT&T introduced AT&T Synaptic Hosting(SM) service, the company's next-generation utility computing service with managed networking, security and storage capabilities. The service is delivered via the AT&T Synaptic Hosting platform that is enabled in five "super" Internet data centers (IDCs) and act as regional gateways to the AT&T network cloud. AT&T Synaptic Hosting supports large-scale computing and applications on demand via virtualized servers and delivers services across AT&T's IDC hosting infrastructure.

In September, AT&T introduced AT&T Mobile Enterprise Applications, a suite of hosted and managed mobile integration solutions and application consulting services designed for companies that want to extend their business-critical information to mobile employees. Supported by the Antenna Mobility Platform(TM) that was developed by Antenna Software, a leading provider of mobile enterprise technologies and solutions, AT&T Mobile Enterprise Applications enables AT&T to expand its delivery of mobile field service automation, sales force automation and information technology (IT) support applications.

Another third-quarter highlight involved AT&T's Intelligent Content Distribution(SM) service being certified with Move Networks to deliver Move-enabled video content to companies and their end-users. This allows media and entertainment companies to use the AT&T network to deliver live and on-demand High Definition programming to computers over the Internet in a true television-like experience.

AT&T also recorded significant sales wins that included a five-year agreement with the Boeing Company for advanced network and wireless services with an estimated value at more than $400 million. Additionally, AT&T signed a five-year deal with the Smiths Group plc that will help Smiths leverage its global scale, delivering improved productivity and cost reductions across the group's five business divisions. Smiths expects to achieve annual savings of at least $5 million on its IT and related communications costs. Also, AT&T and Marriott International introduced an industry-leading technology solution for hotels that transforms multiple communications networks into one converged network for voice and data transmission based on Internet technologies. The solution will improve the guest experience and employee performance, support both wired and wireless services throughout the hotel and speed the introduction of emerging technologies for communications and business applications. The first prototype hotel with a converged network is Marriott's recently opened Renaissance Boston Waterfront Hotel.

"Throughout the third quarter, the AT&T Business Solutions team introduced several innovative services designed to help customers manage the complexity of their applications across their enterprises and provide them to employees anywhere, anytime," said Ron Spears, chief executive officer, AT&T Business Solutions. "Our ability to seamlessly deliver high-quality managed application services across wired and wireless networks, with the quality, security and professional services customers expect from AT&T, will continue to drive future enhancements to our core portfolio."

The AT&T Business Solutions unit provides networking services and solutions to companies and organizations globally. Its customers include every company listed in the Fortune 500, large, medium, and small businesses, telecommunications wholesalers, and U.S. governmental agencies.

During the third quarter 2008, AT&T made the following updates to its portfolio of services for business customers:

Enterprise Mobility

Device Protection & Control. To help businesses simplify mobile device management, AT&T introduced an over-the-air solution that allows them to configure, monitor and enhance the security of AT&T smartphones through a single, hosted Web console. Device Protection & Control makes it easy for telecom managers to install software, configure devices, receive diagnostic information and manage policy compliance. The solution is hosted by AT&T, so businesses don't have to invest in, install and maintain new hardware to protect and manage their wireless devices.

Virtual Private Network (VPN) Enhancements

-- Expanded VPN Reach. AT&T VPN service is now available to business customers in Thailand, Indonesia and Malaysia.

-- Ethernet Access to VPN. Ethernet access to AT&T VPN and Enhanced VPN services is now available to business customers in Luxembourg, Portugal and Poland.

-- Expanded IP DSL Access to VPNs. AT&T IP Digital Subscriber Line customers in Canada and the Asia Pacific region can now access their company's VPN using the AT&T Network-Based IP VPN Remote Access Service and AT&T Virtual Private Tunneling Service. The expansion enables mobile workers for large and small companies to stay connected to their corporate networks regardless of their location around the world.

Data Portfolio

-- 10 Gbps Speed for Ethernet Private Line WAN. AT&T has added a 10 Gbps interoffice channel bandwidth option to its Ethernet Private Line Service for wide area networks (WAN) and Ethernet customers connecting to local area networks at the Layer 1 (physical) level. Now customers have a choice of Ethernet connection speeds, ranging from 50 Mbps to 10 Gbps, in up to 100 cities across the U.S. The higher speed also will help Ethernet Private Line customers making point-to-point connections to realize higher performance with low latency and jitter, which is critical to server synchronization and other delay-sensitive network applications.

-- AT&T Managed WAN Acceleration Service. AT&T Managed WAN Acceleration Service enhances connectivity and transport services for AT&T VPN, Enhanced VPN and Managed Router Service clients around the world. It improves network resources through more efficient use of bandwidth, resulting in easier integration with new technologies, improved applications performance and better economies of scale from converged wireless and wireline services. This enhancement complements AT&T's existing asymmetrical application acceleration solutions that are centralized in an AT&T Internet data center.

Traditional Voice

AT&T Hosted Outbound Calling Service. AT&T has introduced a network-based outbound calling service that allows contact center customers to off-load or load balance the demand on their contact center employees through an Interactive Voice Response platform. This new service supports automated collection and automated fraud notification applications. The platform will call out to a programmed list of customer clients and provide a preset voice notification depending on the application being used and the client situation.

Hosting and Application Services

Web Hosting for Small Businesses. In addition to the Web site design services rolled out earlier this year, AT&T has added to its list of professional Web hosting services for small businesses to include support for site and database migrations, one-stop e-commerce site builds, database builds, expanded managed system administration and server administration and code execution monitoring and third-party code debugging and support. In addition, discount plans have been extended to customers who purchase new AT&T services such as AT&T High Speed Internet U-verse(SM) Enabled Business Edition and AT&T Tech Support 360(SM). Discount plans were already available to AT&T access customers.

Customer Experience

AT&T Billing Solutions Enhancements. AT&T offered additional converged billing capabilities that are designed to simplify the billing process and improve accuracy by providing a single detailed invoice for certain AT&T products and services. Also, AT&T Enterprise Alternate Bill Media delivers solutions for customers wishing to simplify and maximize bill management.

ABS Third-Quarter 2008 Highlights During the third quarter 2008, the ABS unit issued these press releases:

AT&T Launches Global 'Next-Generation' Utility Computing Service (Aug. 5, 2008)

AT&T Computing Platform, Global IP Network Delivers 'Pay-For-Use' Service Capabilities to Businesses

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26005

Marriott International and AT&T Introduce Industry-Leading Converged Network Solution for Hotels (Aug. 6, 2008)

Benefits Include: Faster, More Reliable Wired and Wireless Internet Connections; Quicker Deployment of Emerging Communications Technologies

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26011

Boeing Selects AT&T for Multimillion Dollar Network and Wireless Services Contract (Aug. 12, 2008)

AT&T Earns Primary Carrier Status Connecting Landline Voice and Data Services Covering More Than 130 Domestic Boeing Locations and to Support the Wireless Needs of The Boeing Company

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26016

Smiths Group Expects Savings of $25m From Agreement With AT&T (Sept. 18, 2008)

UK-based Global Business Expects $25 million Savings Over Five Years on Communications Costs as Part of Ongoing Business Transformation Programme

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26092 AT&T Enhances Enterprise Mobility Offerings (Sept. 22, 2008)

AT&T Mobile Enterprise Applications Extends and Manages Critical Business Applications From Data Center to Mobile Workers

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26094 AT&T to Distribute Move Networks Video Content (Sept. 23, 2008) Company Reaffirms Progress, Plans for Digital Media Solutions Portfolio http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26112 Other AT&T Announcements Regarding ABS AT&T Joins Microsoft Partner Solutions Center (July 15, 2008)

Facility Offers Location for AT&T to Demonstrate Mobility Expertise and Technologies

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25952

AT&T Named 2008 North America Company of the Year by Frost & Sullivan (July 16, 2008)

AT&T Recognized for Leadership in Converged Communications for Consumers and Enterprise Businesses

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=25960

AT&T Extends Deadline for College Mobile Applications Developer Contest (Aug. 7, 2008)

'Big Mobile On Campus Challenge' to Award $10,000 Scholarship to Winner http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26012

AT&T Positioned in the Leaders Quadrant in 'Magic Quadrant for Managed and Professional Network Service Providers, Worldwide' Report (Aug. 26, 2008)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26033

AT&T to Deliver Mobile Student Response Solution, Enhancing Higher Education Classroom Experience (Aug. 26, 2008)

Web-Based Application Certified by AT&T, Enabling Real-Time Polling and Distance-Learning Interaction Using Mobile Devices

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26035

AT&T Positioned in the Leaders Quadrant of Magic Quadrant for Web Conferencing (Aug. 27, 2008)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26036

AT&T Receives Market Leadership Award for U.S. Wholesale Metro SONET Services From Frost & Sullivan (Sept. 3, 2008)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26052

AT&T Launches 24/7 Helpdesk Designed to Meet Information Technology Needs of Small Businesses (Sept. 11, 2008)

AT&T Tech Support 360 Service Creates 'Virtual IT Director,' Offering Affordable IT Support for Computers, Software, Wi-Fi Routers and DSL

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26074

AT&T Becomes the First Carrier Listed With the Payment Card Industry to Offer a Portfolio of Business Network Services Evaluated Against Its Data Security Standards (Sept. 17, 2008)

The Set of Business Network and Security Services Enables Payment Card Processing Companies to Comply With Industry Standards

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26090

AT&T Wins Four ATLANTIC-ACM 2008 U.S. Carrier Excellence Awards for Metro Retail Products and Services (Sept. 19, 2008)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26095

AT&T Wins Industry Gold Award for Customer-Centric Approach to Organization Transformation (Sept. 29, 2008)

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26128

AT&T Expands Undersea Cable Capacity Via New Trans-Pacific Express Submarine Cable System (Sept. 30, 2008)

New System Linking Asia-Pacific and United States will Enhance Consortium Member AT&T's Global Network

http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=26135 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.

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

AT&T Inc.

CONTACT: Michael Lordi, +1-908-234-6071, cell, +1-908-329-4854,
mlordi@attnews.us, for AT&T Inc.; or Janet Wyles of AT&T, +1-908-234-6067,
cell, +1-732-331-6754, wyles@att.com

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

Tanya Van Court Takes on Expanded Role as Senior Vice President and General Manager, NOGGIN, ParentsConnect and Nick Jr.com

NEW YORK, Oct. 22 /PRNewswire/ -- Tanya Van Court, who has led Nickelodeon's preschool and parents online businesses, will now expand her position in the company as Senior Vice President and General Manager of NOGGIN, ParentsConnect and Nick Jr.com. The announcement was made today by Nickelodeon Kids and Family Group's Chief Operating Officer, Sarah Kirshbaum Levy; and Executive Vice President, Digital Media, Steve Youngwood, whom Van Court will report to for TV and digital, respectively.

In addition to continuing to lead the company's preschool and parents online businesses, which include NickJr.com (Playtime and Nick Jr. Parents); broadband offerings Nick Jr. Video and Nick Jr. Parents TV; NOGGIN.com; GoCityKids.com; and ParentsConnect.com, Van Court will also oversee the day-to-day management of NOGGIN, the acclaimed educational preschool network from Nickelodeon, where she will spearhead all of its marketing and creative efforts.

"Tanya's wealth of knowledge and experience in the preschool and parenting space, and her success with our related online businesses, make her a natural to take on this expanded role," said Levy. "We look forward to Tanya bringing this leadership to her new role atop both our preschool and parenting TV and online businesses."

Added Youngwood, "Just as she has done within our digital portfolio, in this role she will build and advance our position in the overall preschool and parenting space. Under Tanya's direction, Nickjr.com has upheld and grown its status as the number-one preschool destination and ParentsConnect has become the go-to site for moms and dads."

Van Court joined Nickelodeon in 2006 as Senior Vice President, Preschool and Parents Online, and has led Nickelodeon to become a key player in the parents' online space, most notably with the re-launch and expansion of ParentsConnect.com. She has grown the site to become one of the most influential parenting social networking sites on the web today, and has broadened its focus with new acquisitions like Babunga.com.

Additionally, Van Court has strengthened Nickjr.com with a new look and has maintained its reign as the leading website for preschoolers. She has worked across the various NOGGIN and Nick Jr. lines of business to make both websites (http://www.noggin.com/ and http://www.nickjr.com/) interactive online playgrounds that complement and continue the on-air experiences.

Prior to Nickelodeon, Van Court served as Vice President of New Media Products for ESPN, where she led the launches of ESPN 360, ESPN's broadband video and online gaming player. Prior to joining ESPN, Van Court spent three years at Cablevision Systems, where she was responsible for launching Cablevision's VOIP service, Optimum Voice, and led Cablevision's Operations and Customer Experience efforts for their digital cable product, Interactive Optimum (IO).

Van Court began her career in the telecommunications sector, spending several years with Covad Communications where she was instrumental in the launch of DSL in several international markets. She holds a bachelor's and master's degree in Industrial Engineering from Stanford University.

About Nickelodeon

Nickelodeon, now in its 29th year, is the number-one entertainment brand for kids. It has built a diverse, global business by putting kids first in everything it does. The company includes television programming and production in the United States and around the world, plus consumer products, online, recreation, books, magazines and feature films. Nickelodeon's U.S. television network is seen in more than 96 million households and has been the number-one-rated basic cable network for 14 consecutive years. Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc.

Nickelodeon

CONTACT: Joanna Roses, +1-212-846-7326, or Tori Fernandes,
+1-212.846-4942, both of Nickelodeon

Web Site: http://www.nickjr.com/

PTR Group Celebrates Third Successful Launch of the YearLaunch Marks 8th Spacecraft Launched This Year for Engineering Services Company

HERNDON, Va., Oct. 22 /PRNewswire/ -- The PTR Group, Inc., a leading real-time and embedded technology and engineering services provider, today announced that another satellite that it helped develop, the Interstellar Boundary Explorer (IBEX), was successfully launched on October 19th, 2008, from Kwajalein Atoll in the Marshall Islands. The spacecraft, built by prime contractor Orbital Sciences Corporation , was placed into orbit by Orbital's Pegasus rocket, which was dropped from an L-1011 aircraft over the Pacific Ocean. Following the success of the Fermi Gamma-ray Space Telescope (formerly GLAST) and the ORBCOMM Coast Guard Demonstration and Quick Launch communication satellites, The PTR Group has now assisted in the development of eight satellites placed into orbit this year.

The IBEX spacecraft is one of NASA's Small Explorer missions. It uses two large-aperture cameras to "image" high energy atoms radiated from the termination shock at the edge of the solar system. The PTR Group is an embedded systems specialist and supported development of various aspects of the spacecraft's attitude control, power control, and command and data-handling software. As experts in the area of VxWorks(R) flight software development, The PTR Group worked closely with Orbital's software developers to develop, test and integrate this flight software.

"This will be the eighth spacecraft launch that we've been involved with this year, and second with a scientific mission," said Todd Brackett, company President/CEO. "We are pleased to be on the Orbital team and I could not be more proud of our staff. I am certain that our contributions will have a positive impact on the success of this mission."

About The PTR Group

The PTR Group is an experienced team of technical professionals specializing in embedded and real-time systems solutions and services. These services include hardware and software development, prototype development, consulting and training exclusively for the needs of the embedded and real-time markets. PTR engineers average over 16 years of experience in embedded and real-time development. Headquartered in Northern Virginia, the crossroads of the Internet, the company is privately held by the founders and employees. For more information about The PTR Group, please visit http://www.theptrgroup.com/, or call 703.858.4723.

VxWorks(R) is a registered trademark of Wind River Systems.

The PTR Group, Inc.

CONTACT: Todd S. Brackett of The PTR Group, Inc., +1-301-526-0622,
todd@ThePTRGroup.com

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

New SAP Consulting Services Leader Appointed at Mastech Holdings, Inc.Addition of Randy Ridenour Strengthens Firm's SAP Consulting Practice

PITTSBURGH, Oct. 22 /PRNewswire-FirstCall/ -- Mastech Holdings, Inc. ("Mastech"), a national provider of Information Technology consulting services, announced today that the company had appointed Randy Ridenour to the role of Vice President, SAP Services.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080508/NETH059LOGO-b )

With over fifteen years SAP-related IT experience in wide-ranging capacities including consulting; business development; manager of a $300M+ SAP practice and later as a top-senior executive and board member of a niche SAP provider, Mr. Ridenour brings forward a solid SAP track-record to his new capacity at Mastech, and adds depth to the company's pursuit of SAP-related business.

As part of Mastech's strategic focus on the Enterprise Relationship Planning (ERP) space, and in particular, the high-growth area of SAP technology, Mr. Ridenour will focus on practice development, business development, enhanced SAP consultant recruitment and operational practice efficiency.

Commenting on Mr. Ridenour's appointment, Mastech CEO Steve Shangold noted, "The burgeoning SAP consulting space is a key area of focus for Mastech, and adding a seasoned senior-level professional at the top of our practice helps Mastech deepen our relationship with existing SAP clients and increase new SAP-related business. Randy's presence and leadership will also help attract highly sought-after SAP-skilled consultants. Randy's impressive record speaks for itself."

"It's a great pleasure to join an ERP consulting powerhouse like Mastech," remarked Mr. Ridenour, "from our initial conversation, I realized the company's definitive commitment to the SAP space and the entire team is ready to make rapid headway in the market. We have all the tools here needed to succeed."

Mr. Ridenour joins Mastech from Stefanini IT, an international provider of ERP-centric outsourcing, staffing services and software development, and previously served in similar capacities with Sapient and Modis. More information about Mastech can be found at Mastech's website: http://www.mastech.com/. SAP is a registered trademark of SAP AG in Germany and in several other countries.

About Mastech Holdings, Inc.:

Leveraging the power of 20 years I.T. experience, Mastech provides Information Technology services in the disciplines which drive today's business operations. Clients turn to Mastech for comprehensive I.T. services including: I.T. Consulting; OneSource(tm) Co-Managed projects and supplemental I.T. resources.

Mastech's niche focus includes Business Intelligence/Data Warehousing; Enterprise Resource Planning (ERP); Service Oriented Architecture (SOA); Web Development and I.T. Project Management.

Mastech also provides Recruitment Process Outsourcing (RPO) services through its division RPOworldwide. Mastech is a certified minority-owned business enterprise. For more information visit http://www.mastech.com/.

Photo: http://www.newscom.com/cgi-bin/prnh/20080508/NETH059LOGO-b
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Mastech Holdings, Inc.

CONTACT: Christopher R. Evans, Director of Global Marketing of Mastech
Holdings, Inc., +1-888-330-5497, info@mastech.com

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

AT&T Awards More Than $650,000 in Grants to Help Address High School Dropout Crisis in San Diego and Orange CountyProgram Is Part of $100 Million AT&T Aspire Initiative to Promote High School Success and Workforce Readiness

SAN DIEGO, Oct. 22 /PRNewswire-FirstCall/ -- AT&T Inc. today announced it is awarding more than $650,000 in AT&T Foundation grants to 10 San Diego and Orange County-area educational institutions to support high school retention programs for at-risk students.

The grants are part of the company's signature initiative, AT&T Aspire, which was announced earlier this year to help address high school success and workforce readiness. AT&T has committed $100 million in philanthropy through 2011 to schools and nonprofit organizations that are focused on high school retention and better preparing students for college and the workforce.

As part of the Aspire initiative, the AT&T Foundation has committed $29 million in High School Success grants to more than 170 schools and nonprofit organizations. Statewide, AT&T is awarding 35 grants totaling more than $3.5 million.

America's Promise Alliance, the nation's largest multi-sector collaborative dedicated to the well-being of children and youth, has noted that nearly one-third of U.S. high school students drop out before graduating -- with about 7,000 students dropping out every school day, or one every 26 seconds.

"High school dropout rates are a serious issue affecting students all across the U.S. including here in San Diego and Orange County," said Mark Leslie, vice president, AT&T External Affairs - San Diego. "We're committed to helping kids succeed by preparing them for tomorrow's economy. We are pleased with the response we've seen to the Aspire program, and look forward to working with these groups to build a brighter future for our youth."

Local recipients of these grants are:

Escondido Union High School District -- $180,000 to support and expand the "Tutorial Intervention" program which provides targeted tutoring for at-risk 9th/10th grade students earning a "C" or lower in any core subject area.

Grossmont Union High School District -- $150,000 to support inclusion of 9th grade students in the Learning Center, a small learning community for at-risk students at Monte Vista High School that centers around core academics, student retention, and credit recovery programs.

Placentia-Yorba Linda Unified School District -- $100,000 to support the Valencia High School Hope & Opportunity program designed to work intensely with failing 9th and 10th grade students or others having a history of behavioral problems and attendance issues and therefore, at risk of dropping out of school.

Barrio Logan College Institute -- $31,244 to support planning to improve the writing and literacy of at-risk 9th and 10th graders participating in the "Steps to Success Program", which provides comprehensive academic services and support relevant to college success.

Greater Santa Ana Vitality Foundation -- $35,000 to support planning for High School, Inc. which when implemented will deliver real-world education and curriculum through six career-based academies housed at Valley High School within the Santa Ana Unified School District.

Imperial County Office of Education -- $34,850 to support the expansion of the Summer Bridge algebra academies for 8th and 9th graders to better prepare students for high school academics and requirements for college.

Irvine Public Schools Foundation -- $35,000 to support planning activities for the Freshman Success Program, a peer mentoring project for Irvine Unified School District that will target low-achieving 9th grade students and pair them with mentors and role models with the goal of reinforcing the importance of college.

Saddleback Valley Unified School District -- $30,000 to further develop the Freshman Success program for at-risk 8th and 9th grade students at Mission Viejo High School that provides academic skills classes in geometry, algebra, and English.

San Diego Urban League -- $35,000 to support development of BE SMART (Better Education in Science, Math & Arts for Talented Young Men), a male youth enhancement program designed to increase involvement of at-risk, underserved 9th and 10th grade students in S.E. San Diego County with math, science and arts programs.

THINK Together -- $35,000 to support the expansion of THINK Together (Teaching, Helping, Inspiring, Nurturing Kids Together) high school program into the Santa Ana Unified School which will encompass an intense in-school/after school academic program to keep at-risk students on track.

"AT&T's generous support of Grossmont Union High School District's Learning Center will expand the success we've had in reducing dropouts and getting students back in school," said Bob Collins, Grossmont Superintendent. "AT&T's grant means that more kids will finish high school and go on to lead better and more productive lives. This is another example of outstanding corporate citizenship from AT&T that other companies should emulate."

"The funds from AT&T will greatly enhance the Escondido Union High School District's ability to extend supportive, tutorial services to at-risk students at Orange Glen and San Pasqual High Schools," said Ed Nelson, Superintendent Escondido Union High School District. "We are privileged to have been selected for this generous grant which will be utilized to enrich the educational opportunities for students teetering on the edge of success."

As one of the largest-ever corporate commitments to high school retention and workforce readiness, the $100 million AT&T Aspire program will support organizations with strong track records that promote educational success, from the classroom to the workplace. The recipient programs of this year's High School Success grants provide a range of support for students, including academic intervention, mentoring and tutoring services.

In addition to the retention program grants, AT&T Aspire will award funding in three other key areas:

-- A student job shadowing initiative involving 400,000 AT&T employee hours that will give 100,000 students a firsthand look at the skills they will need to succeed in the 21st century workforce. -- The underwriting of national research that will explore the practitioner perspective (teachers, principals, superintendents, school counselors and school board members) on the high school dropout issue. -- Support for 100 state and community dropout prevention summits, announced earlier this year by America's Promise Alliance.

For more information about the AT&T Aspire initiative, please visit http://www.att.com/education-news.

About Philanthropy at AT&T

AT&T Inc. is committed to advancing education, strengthening communities and improving lives. Through its philanthropic initiatives and partnerships, AT&T supports projects that create learning opportunities; promote academic and economic achievement; and address community needs. In 2007, AT&T contributed more than $164 million through corporate-, employee- and AT&T Foundation-giving programs. AT&T and the AT&T Foundation, the corporate philanthropy organization of AT&T, combine more than $1.9 billion of historic charitable commitment to communities across the country.

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/.

(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.

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.

AT&T Inc.

CONTACT: H. Gordon Diamond of AT&T Inc., +1-415-778-1230,
hgdiamond@att.com

Web site: http://www.att.com/
http://www.att.com/education-news

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