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Companies news of 2009-11-03 (page 10)

  • State of Vermont Selects TPI as IT AdvisorLeading sourcing data and advisory firm to...
  • Repligen to Present at the Merriman Curhan Ford 6th Annual Investor Summit Tuesday,...
  • Rowan Reports Third Quarter 2009 Operating Results
  • Superior Bancorp Reports Third Quarter 2009 Results- Net income of $880,000 vs. $5.7...
  • First Financial Bancorp to Announce Third Quarter 2009 Financial Results on Thursday,...
  • Pannon Launches Novatel Wireless MiFi 2352Intelligent Mobile Wi-Fi Hotspot Providing...
  • ICE Clear Europe Marks One Year Anniversary; New Contracts, Real-Time Risk Management, CDS...
  • Redknee Named 2009 Internet Telephony BSS/OSS Excellence Award Winner
  • FXI and Atmel Create World's First microSD Gaming-Console for Mobile PhonesSiliconCity(R)...
  • CACI Awarded $23 Million Task Order to Support U.S. Army Special Projects OfficeAward...
  • AirTran Holdings, Inc., to Present at Imperial Capital's Global Opportunities Conference
  • Navios Maritime Holdings Inc. to Present at Goldman Sachs Global Industrials Conference
  • Sterling Bancorp To Present At Sandler O'Neill & Partners East Coast Financial Services...
  • Video: For Performance-Hungry Applications on a Strict Power Budget, TI's New Six-Core,...
  • Webcast of QIAGEN N.V.'s (Nasdaq: QGEN) Third Quarter 2009 Financial Results Call Set for...
  • Idenix Pharmaceuticals Initiates Phase II Clinical Trial of IDX184 in Combination With...
  • Activision Partners With Leading Mental Health and Media Researcher Dr. Cheryl Olson on...
  • Valeant Pharmaceuticals Highlights Taribavirin Phase IIb End of Study Data Presentation at...
  • Amicus Therapeutics Appoints Margaret G. McGlynn, R.Ph., to Board of Directors
  • Verenium Corporation to Present at the Thomas Weisel Partners Alternative Energy & Natural...
  • Ingram Micro's New Physical Security Division Offers Expertise and Support to Channel...
  • CSC Introduces Family of Global Solutions to Latin American Financial Services Market
  • Harris Corporation Successfully Completes Qualification Testing of U.S. Navy Multiband...
  • Parker Drilling Reports 2009 Third Quarter Earnings of $0.06 Per Share; Adjusted EPS of...
  • Biostar Pharmaceuticals, Inc. Significantly Increases Rural Supply Network to 3,500 Sales...
  • China TransInfo Announces Conference Call to Discuss Third Quarter 2009 Results
  • Winner Medical Group Inc. Retains Hayden Communications as Corporate Communications...
  • R.G. Barry/Dearfoams Reports Strong 1st Quarter PerformanceAccessory Footwear Marketer's...
  • Bank of America Introduces Clarity Commitment(TM) for Home Equity ProductsSimple One-Page...
  • PharmAthene To Host Third Quarter 2009 Conference Call and Webcast on Thursday, November...



    State of Vermont Selects TPI as IT AdvisorLeading sourcing data and advisory firm to identify ways to achieve lower costs, greater efficiency, more effective delivery of government services Third new client for TPI in State and Local Government sector in past month

    HOUSTON, Nov. 3 /PRNewswire/ -- TPI, the largest sourcing data and advisory firm in the world and a unit of Information Services Group, Inc. (ISG) , an industry-leading information-based services company, today announced it has been selected to advise the State of Vermont on using IT more efficiently and cost-effectively.

    Under the contract, TPI will perform an independent assessment of the use of desktop, infrastructure and networking technologies in all state agencies and independent departments. Comparing internal costs and performance with data from the public and private sectors, TPI will identify options based on current best practices for reducing costs, improving service delivery and enhancing data security and IT governance.

    "IT is increasingly critical to performing the core missions of state government, especially in economically challenging times," said David Tucker, Interim Commissioner, Department of Information and Innovation, and State CIO. "We chose TPI because of its track record of providing objective, fact-based advice to help Public Sector clients better serve their citizens and taxpayers."

    The State of Vermont is the third large government entity to select TPI to perform an IT assessment in the last month, following closely the State of Washington and the City of Houston. Other TPI clients in the Public Sector include the State of Indiana and the State of Georgia and the national governments of Australia, Sweden and Singapore.

    "As they confront budget crises, states and municipalities have a golden opportunity to eliminate inefficiency in IT services," said Don Flores, Partner and Director, State and Local Government Services. "Kudos to the State of Vermont for taking a proactive approach to this challenge. We look forward to helping it achieve solutions for the future that are affordable and sustainable but still meet the State's high standards."

    About TPI

    TPI, a unit of Information Services Group, Inc. (ISG) , is the founder and innovator of the sourcing advisory industry, and the largest sourcing data and advisory firm in the world. We are expert at a broad range of business support functions and related research methodologies. Utilizing deep functional domain expertise and extensive practical experience, our accomplished industry experts collaborate with organizations to help them advance their business operations through the best combination of business process improvement, shared services, outsourcing and offshoring. In addition, TPI Momentum, a business unit of TPI, provides information and insights to outsourcing and offshoring service providers to help them provide enhanced services to their sourcing clients. In 2009, TPI is celebrating its 20th anniversary. For additional information, visit http://www.tpi.net/.

    About Information Services Group, Inc.

    Information Services Group, Inc. (ISG) was founded in 2006 to build an industry-leading, high-growth, information-based services company by acquiring and growing businesses in advisory, data, business and media information services. In November 2007, the company acquired TPI, the largest independent sourcing advisory firm in the world. Based in Stamford, Conn., ISG has a proven leadership team with global experience in information-based services and a track record of creating significant value for shareowners, clients and employees. For more, visit http://www.informationsg.com/.

    TPI

    CONTACT: Todd Miller, TPI, +1-480-235-7018, todd.miller@tpi.net, or
    Rhena Wallace, Cohn & Wolfe for TPI, +1-212-537-8014,
    rhena.wallace@cohnwolfe.com

    Web Site: http://www.tpi.net/




    Repligen to Present at the Merriman Curhan Ford 6th Annual Investor Summit Tuesday, November 10th, 1:40 p.m. EST

    WALTHAM, Mass., Nov. 3 /PRNewswire-FirstCall/ -- Repligen Corporation announced today that the Company President and Chief Executive Officer, Walter C. Herlihy, Ph.D., will present at the Merriman Curhan Ford 6th Annual Investor Summit on Tuesday, November 10th, 2009 at 1:40 p.m. EST at the Sofitel New York Hotel, 45 West 44th Street, New York, New York. A live audio webcast of the presentation will be available via Repligen's website at http://www.repligen.com/ and will be archived for 30 days following the presentation.

    About Repligen Corporation

    Repligen Corporation is a biopharmaceutical company focused on the development of novel therapeutics for diseases that affect the central nervous system. In addition, we are the world's leading supplier of recombinant Protein A, the sales of which partially fund the advancement of our development pipeline while supporting our financial stability. Repligen's corporate headquarters are located at 41 Seyon Street, Building #1, Suite 100, Waltham, MA 02453. Additional information may be requested from http://www.repligen.com/.

    This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding current or future financial performance and position, management's strategy, plans and objectives for future operations, plans and objectives for product development, plans and objectives for present and future clinical trials and results of such trials, plans and objectives for regulatory approval, litigation, intellectual property, product development, manufacturing plans and performance such as the anticipated growth in the monoclonal antibody market and our other target markets and projected growth in product sales, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with: the success of current and future collaborative relationships, the market acceptance of our products, our ability to compete with larger, better financed pharmaceutical and biotechnology companies, new approaches to the treatment of our targeted diseases, our expectation of incurring continued losses, our uncertainty of product revenues and profits, our ability to generate future revenues, our ability to raise additional capital to continue our drug development programs, the success of our clinical trials, our ability to develop and commercialize products, our ability to obtain required regulatory approvals, our compliance with all Food and Drug Administration regulations, our ability to obtain, maintain and protect intellectual property rights for our products, the risk of litigation regarding our intellectual property rights, our limited sales and manufacturing capabilities, our dependence on third-party manufacturers and value added resellers, our ability to hire and retain skilled personnel, our volatile stock price, and other risks detailed in Repligen's filings with the Securities and Exchange Commission. Repligen assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

    Repligen Corporation

    CONTACT: Laura Whitehouse, Vice President, Market Development of
    Repligen Corporation, +1-781-419-1812

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




    Rowan Reports Third Quarter 2009 Operating Results

    HOUSTON, Nov. 3 /PRNewswire-FirstCall/ -- For the three months ended September 30, 2009, Rowan Companies, Inc. ("Rowan" or the "Company") generated net income of $78.4 million or $0.69 per share, compared to $114.1 million or $1.00 per share in the third quarter of 2008 and $96.6 million or $0.85 per share in the second quarter of 2009. Excluding the tax benefit described in the following paragraph, earnings in the third quarter of 2009 were $61.4 million or $0.54 per share. Revenues were $393.4 million in the third quarter of 2009, compared to $527.1 million in the third quarter of 2008 and $482.2 million in the second quarter of 2009.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20081031/DA43093LOGO)

    Results for the third quarter of 2009 included a $17.0 million or $0.15 per share net tax benefit related to a recent third-party tax court ruling, which provided that certain foreign-source income is not taxable in the United States. This is in addition to the $8.0 million or $0.07 per share tax benefit recorded during the second quarter related to the same issue. Results for the third quarter of 2008 included gains on asset disposals of $21.4 million or $0.12 per share. There were no significant asset disposals in the second or third quarters of 2009.

    Rowan's drilling operations generated revenues of $258.4 million in the third quarter of 2009, down by 28% from the prior-year quarter and by 19% from the second quarter of 2009 due primarily to lower rig utilization. The Company's gross drilling margin was 53% of revenues in the third quarter of 2009, down from 54% in the prior-year quarter and 57% in the second quarter of 2009. Income from drilling operations was $81.1 million in the third quarter of 2009, down by 51% from the prior-year quarter and by 37% from the second quarter of 2009.

    Rowan's manufacturing operations generated external revenues of $135.0 million in the third quarter of 2009, down by 21% from the prior-year quarter and by 16% from the second quarter of 2009. The Company's gross manufacturing margin was 13% of revenues in the third quarter of 2009, up from 12% in the prior-year quarter and 9% in the second quarter of 2009. Income from manufacturing operations was $6.0 million in the third quarter of 2009, up by 13% from the prior-year quarter and by 122% from the second quarter of 2009.

    Matt Ralls, President and Chief Executive Officer, commented, "Our third quarter results, both in drilling and manufacturing, benefitted from our contract backlog and great execution by our employees. While excess rig supply has, and will likely continue to, put pressure on day rates, we believe global demand for jack-ups and land rigs bottomed during the third quarter. Many drilling tenders remain highly competitive, but we are seeing a notable increase in demanding drilling projects for which our higher specification equipment and capable workforce provide a competitive advantage. We are encouraged by the increased contracting activity in the North America land and jack-up drilling markets, and optimistic regarding the multiple inquiries for our Super Gorilla Class rigs, especially in the North Sea. In our manufacturing operations, a recent improvement in demand for our innovative mining equipment has been a positive development on top of our success in adding three new rig kit packages earlier this year."

    Rowan will conduct its earnings conference call on Tuesday, November 3, 2009, at 10:00 a.m. Central Standard Time. Interested parties are invited to listen to the call by telephone or over the Internet. Individuals who wish to participate on the conference call by telephone can dial (877) 869-3847, or internationally (201) 689-8261. Alternatively, to access the online simulcast and rebroadcast of the conference call, please visit Rowan's website at http://www.rowancompanies.com/. You should connect to our website at least 15 minutes prior to the conference call to register, download and install any necessary software.

    Rowan Companies, Inc. is a worldwide provider of contract drilling services utilizing a fleet of 22 high-spec offshore jack-up rigs and 32 deep-well land drilling rigs. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries. For more information on Rowan, please visit http://www.rowancompanies.com/.

    This report contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements as to the expectations, beliefs and future expected financial performance of the Company that are based on current expectations and are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected by the Company. Among the factors that could cause actual results to differ materially include oil and natural gas prices, the level of offshore expenditures by energy companies, energy demand, the general economy, including inflation, weather conditions in the Company's principal operating areas and environmental and other laws and regulations. Other relevant factors have been disclosed in the Company's filings with the U.S. Securities and Exchange Commission.

    ROWAN COMPANIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS Unaudited (In Millions) SEPTEMBER 30, DECEMBER 31, 2009 2008 ---- ---- ASSETS Cash and cash equivalents $681.1 $222.4 Accounts receivable 361.2 485.0 Inventories 480.8 551.4 Other current assets 127.8 110.4 ----- ----- Total current assets 1,650.9 1,369.2 Property, plant and equipment - net 3,440.0 3,147.5 Other assets 91.7 32.2 ---- ---- TOTAL $5,182.6 $4,548.9 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current maturities of long-term debt $64.9 $64.9 Accounts payable 118.3 235.0 Other current liabilities 308.9 444.7 Total current liabilities 492.1 744.6 Long-term debt 801.2 355.6 Other liabilities 917.2 788.9 Stockholders' equity 2,972.1 2,659.8 ------- ------- TOTAL $5,182.6 $4,548.9 ======== ======== ROWAN COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited (In Millions Except Per Share Amounts) THREE MONTHS NINE MONTHS ENDED SEPTEMBER 30 ENDED SEPTEMBER 30 2009 2008 2009 2008 ---- ---- ---- ---- REVENUES $393.4 $527.1 $1,370.4 $1,599.7 ------ ------ -------- -------- COSTS AND EXPENSES: Operations (excluding items shown below) 238.2 312.5 758.6 937.9 Depreciation and amortization 43.7 36.2 126.8 102.8 Selling, general and administrative 24.1 27.6 73.4 85.7 Loss (gain) on sale of property and equipment 0.3 (21.4) (4.3) (28.3) --- ----- ---- ----- Total 306.3 354.9 954.5 1,098.1 ----- ----- ----- ------- INCOME FROM OPERATIONS 87.1 172.2 415.9 501.6 Net interest and other income (expense) (0.7) (0.9) 3.1 4.0 ---- ---- --- --- INCOME BEFORE INCOME TAXES 86.4 171.3 419.0 505.6 Provision for income taxes 8.0 57.2 112.3 172.3 --- ---- ----- ----- NET INCOME $78.4 $114.1 $306.7 $333.3 ===== ====== ====== ====== NET INCOME PER DILUTED SHARE $0.69 $1.00 $2.70 $2.94 ===== ===== ===== ===== AVERAGE DILUTED SHARES 113.9 113.8 113.6 113.5 ===== ===== ===== ===== NOTE: See pages 6 and 7 for supplemental operating information. ROWAN COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited (In Millions) NINE MONTHS ENDED SEPTEMBER 30 2009 2008 ---- ---- CASH PROVIDED BY (USED IN): Operations: Net income $306.7 $333.3 Adjustments to reconcile net income to net cash provided by operations: Depreciation and amortization 126.8 102.8 Deferred income taxes 70.6 38.0 Gain on disposals of assets (4.3) (28.3) Other - net 4.5 9.0 Net changes in current assets and liabilities (62.1) (17.7) Net changes in other noncurrent assets and liabilities (33.2) (3.5) ----- ---- Net cash provided by operations 409.0 433.6 ----- ----- Investing activities: Property, plant and equipment additions (393.2) (618.5) Proceeds from disposals of property, plant and equipment 5.7 53.4 Decrease in restricted cash balance - 50.0 --- ---- Net cash used in investing activities (387.5) (515.1) ------ ------ Financing activities: Proceeds from borrowings 491.7 80.0 Repayments of borrowings (51.2) (131.2) Payment of cash dividends - (33.7) Proceeds from equity compensation plans and other (3.3) 34.6 ---- ---- Net cash provided by (used in) financing activities 437.2 (50.3) ----- ----- INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 458.7 (131.8) CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 222.4 284.5 ----- ----- CASH AND CASH EQUIVALENTS, END OF PERIOD $681.1 $152.7 ====== ====== ROWAN COMPANIES, INC. SUPPLEMENTAL DRILLING INFORMATION Unaudited (dollars in millions, except where otherwise indicated) THREE MONTHS ENDED ------------------ September 30, 2009 ------------------ $(a) Elims. $(b) % Revs. --- ------ --- ------- DRILLING OPERATIONS: Revenues $258.4 $258.4 100 Operating costs (excluding items shown below) (122.2) $0.9 (121.3) (47) Depreciation and amortization expense (39.8) (39.8) (15) Selling, general and administrative expenses (c) (16.3) (16.3) (6) Gain on sale of property and equipment 0.1 0.1 0 --- --- Income from operations $80.2 $0.9 $81.1 31 ===== ==== ===== == EBITDA (d) $119.9 $0.9 $120.8 47 ====== ==== ====== == OFFSHORE RIG DAYS: Operating 1,197 Available 2,024 ----- Utilization 59% == LAND RIG DAYS: Operating 1,652 Available 2,944 ----- Utilization 56% == AVERAGE DAY RATES (in thousands): Gulf of Mexico rigs $137.9 Middle East rigs 161.4 North Sea rigs 209.2 All offshore rigs 182.5 Land rigs 22.5 THREE MONTHS ENDED ------------------ June 30, 2009 ------------- $(a) Elims. $(b) % Revs. --- ------ --- ------- DRILLING OPERATIONS: Revenues $320.8 $320.8 100 Operating costs (excluding items shown below) (137.1) $0.3 (136.8) (43) Depreciation and amortization expense (38.7) (38.7) (12) Selling, general and administrative expenses (c) (17.4) (17.4) (5) Gain on sale of property and equipment - - - --- --- Income from operations $127.6 $0.3 $127.9 40 ====== ==== ====== == EBITDA (d) $166.3 $0.3 $166.6 52 ====== ==== ====== == OFFSHORE RIG DAYS: Operating 1,561 Available 2,002 ----- Utilization 78% == LAND RIG DAYS: Operating 1,721 Available 2,849 ----- Utilization 60% == AVERAGE DAY RATES (in thousands): Gulf of Mexico rigs $150.4 Middle East rigs 144.7 North Sea rigs 285.4 All offshore rigs 177.2 Land rigs 22.4 THREE MONTHS ENDED ------------------ September 30, 2008 ------------------ $(b) % Revs. --- ------- DRILLING OPERATIONS: Revenues $357.1 100 Operating costs (excluding items shown below) (163.3) (46) Depreciation and amortization expense (32.2) (9) Selling, general and administrative expenses (c) (16.2) (5) Gain on sale of property and equipment 21.5 6 ---- --- Income from operations $166.9 47 ====== == EBITDA (d) $177.6 50 ====== == OFFSHORE RIG DAYS: Operating 1,817 Available 1,915 ----- Utilization 95% == LAND RIG DAYS: Operating 2,620 Available 2,710 ----- Utilization 97% == AVERAGE DAY RATES (in thousands): Gulf of Mexico rigs $131.4 Middle East rigs 159.2 North Sea rigs 238.3 All offshore rigs 161.1 Land rigs 20.9 (a) Amounts include intercompany transactions between drilling and manufacturing operations. (b) Amounts exclude intercompany transactions. (c) Amounts include corporate SG&A costs that are allocated between operating segments. (d) EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-GAAP financial measure that we believe is relevant to our stockholders. We measure EBITDA as operating income plus depreciation and any loss on sale of property and equipment, less any gain on sale. ROWAN COMPANIES, INC. SUPPLEMENTAL MANUFACTURING INFORMATION Unaudited (dollars in millions) THREE MONTHS ENDED ------------------ September 30, 2009 ------------------ $(a) % Revs. Elims. $(b) % Revs. --- ------- ------ --- ------- MANUFACTURING OPERATIONS: Revenues $219.1 100 $(84.1) $135.0 100 Operating costs (excluding items shown below) (172.6) (79) 55.7 (116.9) (87) Depreciation and amortization expense (3.9) (2) (3.9) (3) Selling, general and administrative expenses (c) (7.8) (4) (7.8) (6) Gain (loss) on sale of property and equipment (0.4) (0) (0.4) (0) ---- --- ---- Income from operations $34.4 16 $(28.4) $6.0 4 ===== == ======= ==== == EBITDA (d) $38.7 18 $(28.4) $10.3 8 ===== == ======= ===== == REVENUES: Drilling Products and Systems $177.5 81 $(84.1) $93.4 69 Mining, Forestry and Steel Products 41.6 19 - 41.6 31 ---- --- ---- Total $219.1 100 $(84.1) $135.0 100 ====== === ======= ====== === MANUFACTURING BACKLOG: Drilling Products and Systems $745.4 $(340.9) $404.5 Mining, Forestry and Steel Products 35.3 - 35.3 ---- --- ---- Total $780.7 $(340.9) $439.8 ====== ======= ====== THREE MONTHS ENDED ------------------ June 30, 2009 ------------- $(a) % Revs. Elims. $(b) % Revs. --- ------- ------ --- ------- MANUFACTURING OPERATIONS: Revenues $196.5 100 $(35.1) $161.4 100 Operating costs (excluding items shown below) (172.6) (88) 25.2 (147.4) (91) Depreciation and amortization expense (3.9) (2) (3.9) (2) Selling, general and administrative expenses (c) (7.3) (4) (7.3) (5) Gain (loss) on sale of property and equipment (0.1) (0) (0.1) (0) ---- --- ---- Income from operations $12.6 6 $(9.9) $2.7 2 ===== == ===== ==== == EBITDA (d) $16.6 8 $(9.9) $6.7 4 ===== == ===== ==== == REVENUES: Drilling Products and Systems $141.9 72 $(35.1) $106.8 66 Mining, Forestry and Steel Products 54.6 28 - 54.6 34 ---- --- ---- Total $196.5 100 $(35.1) $161.4 100 ====== === ====== ====== === MANUFACTURING BACKLOG: Drilling Products and Systems $914.0 $(424.4) $489.6 Mining, Forestry and Steel Products 28.2 - 28.2 ---- --- ---- Total $942.2 $(424.4) $517.8 ====== ======= ====== THREE MONTHS ENDED ------------------ September 30, 2008 ------------------ $(b) % Revs. --- ------- MANUFACTURING OPERATIONS: Revenues $170.0 100 Operating costs (excluding items shown below) (149.2) (88) Depreciation and amortization expense (4.0) (2) Selling, general and administrative expenses (c) (11.4) (7) Gain (loss) on sale of property and equipment (0.1) (0) ---- Income from operations $5.3 3 ==== == EBITDA (d) $9.4 6 ==== == REVENUES: Drilling Products and Systems $110.9 65 Mining, Forestry and Steel Products 59.1 35 ---- Total $170.0 100 ====== === MANUFACTURING BACKLOG: Drilling Products and Systems $562.5 Mining, Forestry and Steel Products 131.5 ----- Total $694.0 ====== (a) Amounts include intercompany transactions between manufacturing and drilling operations. (b) Amounts exclude intercompany transactions. (c) Amounts include corporate SG&A costs that are allocated between operating segments. (d) EBITDA (earnings before interest, taxes, depreciation and amortization) is a non-GAAP financial measure that we believe is relevant to our stockholders. We measure EBITDA as operating income plus depreciation and any loss on sale of property and equipment, less any gain on sale.

    Photo: http://www.newscom.com/cgi-bin/prnh/20081031/DA43093LOGO
    http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com Rowan Companies, Inc.

    CONTACT: Suzanne M. McLeod, Director of Investor Relations of Rowan
    Companies, Inc., +1-713-960-7517, smcleod@rowancompanies.com

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




    Superior Bancorp Reports Third Quarter 2009 Results- Net income of $880,000 vs. $5.7 million loss in the second quarter 2009. - Deposits were up approximately 12% during 2009 to $2.6 billion. - Loans increased 5% during 2009 to $2.4 billion. - Net interest margin improved to 3.36%, up 15 basis points from the second quarter 2009. - Total Risk Based Capital increased to 11.27% from 11.07% in the second quarter.

    BIRMINGHAM, Ala., Nov. 3 /PRNewswire-FirstCall/ -- Superior Bancorp today reported its third quarter 2009 results. A summary of the results is provided below and in the attached financial data.

    As of and for the Quarters Ended -------------------------------- (Dollars in thousands, except September 30, September 30, per share data 2009 2008 ------------------------------------------------------------------- Total assets $3,226,570 $3,103,677 Total loans, net of unearned income 2,434,534 2,219,041 Total deposits 2,619,961 2,225,529 Stockholders' equity 244,730 341,873 Net interest income 23,913 21,626 Net income (loss) 880 (6,508) Net loss available to common stockholders (287) (6,508) Net loss per common share (0.03) (0.65) Total branches 72 76 Earnings Performance

    "We are pleased to report profitable operations for our third quarter, 2009, especially in this very difficult economy," Chairman and CEO Stan Bailey commented. "The quarter's results inc significant progress on several fronts, even as we continue to address certain credit challenges reflective of the current economic recession."

    "Our interest margin rose to 3.36%, reflecting our continued progress in repricing both our loan portfolio and our deposits. All fee income categories rose except for mortgage banking, our expenses declined significantly as part of our previously announced efficiency program, our credit costs remained reasonable compared to average industry results, our regulatory capital ratio increased and we absorbed the cost of the market value risk in our investment portfolio while reporting a profitable quarter. Looking back on our third quarter, we made considerable progress," Bailey concluded.

    Comparison of Third Quarter 2009 with Second Quarter 2009

    Net interest income increased significantly, rising from $22.7 million to $23.9 million. As noted above, the margin rose to 3.36% from 3.21%, with both being constrained to similar degrees by the effects of loans that were placed on non-accrual - approximating 0.15% in both quarters. A significant portion of the increase in net interest income was associated with margin improvement as our average deposit pricing declined approximately 0.16%. Our loan portfolio increased 1.5% from the second quarter to the third, offset by a similar decline in loans held for sale, as the mortgage pipeline was reduced due to lower production activity.

    The third quarter included a gain from securities sales of $5.6 million due to repositioning of a portion of the securities portfolio. Also included in this quarter's results were write downs associated with trust preferred securities and certain private-label mortgage-backed securities in our portfolio totaling $3.5 million for other-than-temporary impairments (OTTI), and a provision for loan losses and OREO expenses totaling $6.5 million.

    Total noninterest income, excluding both the securities transactions and the OTTI loss, declined approximately $0.3 million from the second quarter, due exclusively to lower mortgage activity, as all other income categories rose.

    Total noninterest expense declined $2.2 million, approximately half of which was due to the FDIC special assessment in the second quarter, and the balance being attributable to a concerted effort to reduce expenses at Superior, including the closure of 5 branches during the quarter. These expense reduction measures should continue to be beneficial in future quarters.

    Credit Quality

    Loans 30-89 days past due (DPD) and still accruing was 1.64% of total loans at quarter end compared to 1.50% on June 30, 2009. Non-performing loans, including loans 90 DPD and still accruing, increased to $153 million or 6.3 % of total loans in the quarter compared to 4.91 % of total loans at June 30, 2009. Of the non-performing loans, 31% is in Alabama, 63% in Florida and 6% elsewhere. Our other real estate owned portfolio of $42 million consists of 62% in Alabama and 38% in Florida.

    Net charge offs for the quarter were $4.3 million, or an annualized rate of 0.72% of total loans.

    The provision for loan losses for the quarter was $5.2 million compared to a provision of $6.0 million in the prior quarter. The allowance for loan losses stands at $34.3 million, 1.41% of loans, up from $33.5 million at the prior quarter's end.

    Balance Sheet, Capital and Liquidity

    An investment securities repositioning program implemented during the third quarter allowed us to reinvest in lower "risk based" assets, freeing up some $12 million in regulatory capital. As the result of this strategy and improved operating earnings during the quarter, our total risk based capital ratio increased to 11.27% for the quarter. We continue to focus on maintaining our capital ratios at appropriately high levels given the current conditions in the economy.

    Additionally, as discussed below, we recorded OTTI charges in this and previous quarters that reduced the market risk and book value of the trust preferred securities in our portfolio from approximately $24 million at December 31, 2008 to approximately $14 million at September 30, 2009. While reducing the carrying value of these assets had a significant impact on earnings, it is clear that their fair value is significantly diminished in the current environment, and that reduction was appropriate under these conditions.

    Superior Bank's liquidity continues to be strong, and our reliance on brokered deposits and borrowings remains at a low level. Deposits at our 22 de novo branches opened since 2006 rose to $430 million, a new record level, and represent a steady source of core funding that enables us to continue to grow Superior with relationship-based funding.

    Regulatory Reform

    Besides the economy, the greatest risk of uncertainty for the banking industry continues to be the regulatory reform initiatives being undertaken by the U. S. Congress and our numerous regulatory agencies. While fully recognizing that the activities of the mostly investment banking and non-bank financial institutions became major catalysts for our current economic challenges, Congress is proposing an over-reactive, sweeping "broad brush" solution resulting in the Government's intent to increase regulations, oversight and involvement in the daily business activities best left to experienced bank management teams and their boards of directors. It will result in additional burdensome disclosures and red tape for our customers and additional cost to our shareholders. For the vast majority of well-run community banks, it is totally unnecessary.

    Earnings Restatement

    In consultation with our external auditors and with the approval of our Audit Committee, we intend to restate our previously reported results for the first and second quarters of 2009 to increase our charges for previously recorded OTTI within the trust preferred securities. We intend to file our amended Forms 10-Q/A on or about November 9, 2009. During the first and second quarters of 2009, our rated trust preferred securities portfolio experienced significant rating downgrades. After further review and in consultation with an external valuation firm, it was determined that the credit spreads used in our initial valuations did not reflect then- current market rates for these types of instruments. Considering the continued credit deterioration, related disruption of the market for these instruments and the complexity of the instrument structures, we revised the interest rate and default assumptions used in determining fair value and determined the need to recognize additional OTTI adjustments.

    In addition, we determined that a $5 million trust preferred security of a privately held company with respect to which contemporaneous financial information was difficult to obtain, was fully impaired during the first quarter 2009. Accordingly, we revised our OTTI credit charge to recognize a loss on the full amount of the security. The impact on net income from the restatements was ($2.9 million), or ($0.29) per common share for the first quarter, and ($1.9 million), or ($0.19) per common share for the second quarter. Additional detail on the effect of the restatements on the March 31 and June 30, 2009 condensed consolidated financial statements and earnings per share is included in the attached schedules.

    About Superior Bancorp

    Superior Bancorp is a $3.2 billion thrift holding company headquartered in Birmingham, Alabama. The principal subsidiary of Superior Bancorp is Superior Bank, a southeastern community bank and the third largest U. S. banking institution headquartered in Alabama. Superior Bank currently has 72 branches, with 44 locations throughout the state of Alabama and 28 locations in Florida. Superior Bank also operates 23 consumer finance offices in North Alabama as 1st Community Credit and Superior Financial Services.

    The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. Some of the disclosures in this release, including any statements preceded by, followed by or which include the words "may," "could," "should," "will," "would," "hope," "might," "believe," "expect," "anticipate," "estimate," "intend," "plan," "assume" or similar expressions constitute forward-looking statements. These forward-looking statements, implicitly and explicitly, include the assumptions underlying the statements and other information with respect to our beliefs, plans, objectives, goals, expectations, anticipations, estimates, intentions, financial condition, results of operations, future performance and business, including our expectations and estimates with respect to our revenues, expenses, earnings, return on equity, return on assets, efficiency ratio, asset quality, the adequacy of our allowance for loan losses and other financial data and capital and performance ratios. Although we believe that the expectations reflected in our forward-looking statements are reasonable, these statements involve risks and uncertainties which are subject to change based on various important factors (some of which are beyond our control). Such forward looking statements should, therefore, be considered in light of various important factors set forth from time to time in our reports and registration statements filed with the SEC. The following factors, among others, could cause our financial performance to differ materially from our goals, plans, objectives, intentions, expectations and other forward-looking statements: (1) the strength of the United States economy in general and the strength of the regional and local economies in which we conduct operations; (2) the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; (3) inflation, interest rate, market and monetary fluctuations; (4) our ability to successfully integrate the assets, liabilities, customers, systems and management we acquire or merge into our operations; (5) our timely development of new products and services in a changing environment, including the features, pricing and quality compared to the products and services of our competitors; (6) the willingness of users to substitute competitors' products and services for our products and services; (7) the impact of changes in financial services policies, laws and regulations, including laws, regulations and policies concerning taxes, banking, securities and insurance, and the application thereof by regulatory bodies; (8) our ability to resolve any legal proceeding on acceptable terms and its effect on our financial condition or results of operations; (9) technological changes; (10) changes in consumer spending and savings habits; (11) the effect of natural disasters, such as hurricanes, in our geographic markets; (12) regulatory, legal or judicial proceedings; (13) the continuing instability in the domestic and international capital markets; (14) the effects of new and proposed laws relating to financial institutions and credit transactions; and (15) the effects of policy initiatives that have been and may continue to be introduced by the new Presidential administration and related regulatory actions.

    Superior Bancorp disclaims any intent or obligation to update forward-looking statements.

    More information on Superior Bancorp and its subsidiaries may be obtained over the Internet, http://www.superiorbank.com/, or by calling 1-877-326-BANK (2265).

    SUPERIOR BANCORP AND SUBSIDIARIES UNAUDITED SUMMARY EFFECTS OF RESTATEMENT (Dollars in thousands, except per share data) Restatement Effects - Condensed Consolidated Statements of Financial Condition (Unaudited) As of March 31, 2009 As of June 30, 2009 ---------------------------- --------------------------- As As Originally Differ- Originally Differ- Restated Filed ence Restated Filed ence -------- ---------- ------- -------- ---------- ------- Investment securities available for sale $328,708 $338,590 ($9,882) $306,301 $315,551 ($9,250) Accrued interest receivable - - - 16,025 16,210 (185) Other assets 58,383 53,470 4,913 66,165 62,819 3,346 Total assets 3,129,469 3,134,438 (4,969) 3,209,421 3,215,510 (6,089) Accrued interest payable and other liabilities 24,906 24,240 666 - - - Accumulated deficit (134,621) (131,733) (2,888) (141,483) (136,662) (4,821) Accumulated other comprehensive loss (9,550) (6,803) (2,747) (7,791) (6,723) (1,268) Total stockholders' equity 245,434 251,070 (4,969) 240,681 246,770 (6,089) Total liabilities and stockholders' equity 3,129,469 3,134,438 (4,969) 3,209,421 3,215,510 (6,089) Restatement Effects - Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Three Months Ended March 31, 2009 June 30, 2009 ------------------------------ -------------------------- As As Originally Differ- Originally Differ- Restated Filed ence Restated Filed ence -------- ----- ------ -------- ---------- ------- Net interest income $- $- $- $22,717 $22,915 ($198) Total other- than-temporary impairment losses (7,629) (1,777) (5,852) (6,685) (5,853) (832) Portion of OTTI recognized in other comprehensive income 1,784 1,453 331 904 1,776 (872) Investment securities (loss) gain (5,845) (324) (5,521) (5,781) (4,077) (1,704) Loss before income taxes (6,422) (901) (5,521) (10,233) (8,331) (1,902) Income tax benefit (2,848) (215) (2,633) (4,539) (4,596) 30 Net loss (3,574) (686) (2,888) (5,694) (3,762) (1,932) Net loss applicable to common shareholders (4,717) (1,829) (2,888) (6,681) (4,929) (1,932) Basic net loss per common share (0.47) (0.18) (0.29) (0.68) (0.49) (0.19) Diluted net loss per common share (0.47) (0.18) (0.29) (0.68) (0.49) (0.19) Six-Months Ended June 30, 2009 ----------------------------------- As Originally Restated Filed Difference -------- ----------- ---------- Net interest income $80,386 $80,584 ($198) Total other-than-temporary impairment losses (17,189) (7,631) (9,558) Portion of OTTI recognized in other comprehensive income 5,563 3,230 2,333 Investment securities (loss) gain (11,626) (4,401) (7,225) Loss before income taxes (16,655) (9,232) (7,423) Income tax benefit (7,387) (4,784) (2,603) Net loss (9,268) (4,448) (4,820) Net loss applicable to common shareholders (11,578) (6,758) (4,820) Basic net loss per common share (1.15) (0.67) (0.48) Diluted net loss per common share (1.15) (0.67) (0.48) Superior Bancorp and Subsidiaries Condensed Consolidated Statements of Financial Condition (Dollars In Thousands) September 30, ---------------------- December 31, 2009 2008 2008 ----------- --------- ----------- (Unaudited) (Unaudited) Assets Cash and due from banks $57,364 $88,035 $74,237 Interest-bearing deposits in other banks 73,976 6,564 10,042 Federal funds sold 990 3,038 5,169 Total cash and cash equivalents 132,330 97,637 89,448 Investment securities available for sale 296,881 334,502 347,142 Tax lien certificates 24,700 18,877 23,786 Mortgage loans held for sale 58,704 15,292 22,040 Loans, net of unearned income 2,434,534 2,219,041 2,314,921 Less: Allowance for loan losses (34,336) (27,670) (28,850) Net loans 2,400,198 2,191,371 2,286,071 Premises and equipment, net 104,764 104,003 104,085 Accrued interest receivable 15,540 15,188 14,794 Stock in FHLB 18,212 24,965 21,410 Cash surrender value of life insurance 49,655 47,789 48,291 Goodwill and other intangibles 17,784 184,442 21,052 Other real estate 42,259 24,522 19,971 Other assets 65,543 45,089 54,611 Total assets $3,226,570 $3,103,677 $3,052,701 Liabilities and Stockholders' Equity Deposits Noninterest-bearing $255,196 $220,553 $212,732 Interest-bearing 2,364,765 2,004,976 2,130,256 Total deposits 2,619,961 2,225,529 2,342,988 Advances from FHLB 218,321 440,327 361,324 Federal funds borrowed and security repurchase agreements 1,652 5,989 3,563 Notes payable 45,801 10,000 7,000 Subordinated debentures 60,720 60,940 60,884 Accrued expenses and other liabilities 35,385 19,019 25,703 Total liabilities 2,981,840 2,761,804 2,801,462 Stockholders' Equity Preferred stock, par value $.001 per share; shares authorized 5,000,000: Series A, fixed rate cumulative perpetual preferred stock; 69,000 shares issued and outstanding at September 30, 2009 and December 31, 2008, respectively - - - Common stock, par value $.001 per share; shares authorized 20,000,000; shares issued 11,624,279, 10,391,748 and 10,403,087, respectively; outstanding 11,624,279, 10,064,941 and 10,074,999, respectively 12 10 10 Surplus - preferred 63,868 - 62,978 - warrants 8,646 - 8,646 - common 321,840 331,860 329,461 Accumulated (deficit) retained earnings (141,770) 28,586 (129,904) Accumulated other comprehensive loss (7,501) (6,441) (7,925) Treasury stock, at cost - (11,370) (11,373) Unearned ESOP stock (308) (487) (443) Unearned restricted stock (57) (285) (211) Total stockholders' equity 244,730 341,873 251,239 Total liabilities and stockholders' Equity $3,226,570 $3,103,677 $3,052,701 Superior Bancorp and Subsidiaries Condensed Consolidated Statements of Operations (Amounts In Thousands, Except Per Share Data) Three Months Ended Nine Months Ended September 30, September 30, Year Ended ------------------ ----------------- December 31, 2009 2008 2009 2008 2008 ------------------ ----------------- ------------ (Unaudited) (Unaudited) Interest income Interest and fees on loans $36,783 $36,664 $107,693 $110,717 $147,162 Interest on investment securities: Taxable 3,362 4,106 11,148 12,302 16,310 Exempt from Federal income tax 432 430 1,295 1,291 1,716 Interest on federal funds sold 1 17 8 114 122 Interest and dividends on other investments 471 663 1,289 2,039 2,578 Total interest income 41,049 41,880 121,433 126,463 167,888 Interest expense Interest on deposits 13,315 16,010 42,317 52,972 68,405 Interest on FHLB advances and other borrowings 2,619 3,290 7,558 9,098 12,104 Interest on subordinated debt 1,202 954 3,602 2,887 4,094 Total interest expense 17,136 20,254 53,477 64,957 84,603 Net interest income 23,913 21,626 67,956 61,506 83,285 Provision for loan losses 5,169 2,305 14,602 10,143 13,112 Net interest Income after provision for loan losses 18,744 19,321 53,354 51,363 70,173 Noninterest income Service charges and fees on deposits 2,595 2,425 7,506 6,721 9,295 Mortgage banking income 1,506 820 5,468 3,117 3,972 Gain on sale of investment securities 5,644 NA 5,644 NA NA Total other-than- temporary impairment ("OTTI") losses (1,426) NA (18,616) NA NA Portion of OTTI recognized in (transferred from) other comprehensive income (2,097) NA 3,466 NA NA Investment securities gains (losses) 2,121 (8,541) (9,506) (7,072) (8,453) Change in fair value of derivatives 435 141 170 773 1,240 Increase in cash surrender value of life insurance 568 583 1,623 1,689 2,274 Gain on extinguishment of liabilities - - - 2,918 2,918 Other income 1,254 1,359 3,811 4,247 5,521 Total noninterest income 8,479 (3,213) 9,072 12,393 16,767 Noninterest expenses Salaries and employee benefits 12,234 12,379 36,976 36,577 49,672 Occupancy, furniture and equipment expense 4,478 4,434 13,397 12,614 17,197 Amortization of core deposit intangibles 985 896 2,956 2,688 3,585 Goodwill impairment charge - - - - 160,306 FDIC assessment 921 433 3,310 657 1,105 Foreclosure losses 1,337 190 3,656 552 908 Other operating expenses 5,687 5,576 17,207 16,358 21,905 Total noninterest expenses 25,642 23,908 77,502 69,446 254,678 Income (loss) before income taxes 1,581 (7,800) (15,076) (5,690) (167,738) Income tax expense (benefit) 701 (1,292) (6,686) (719) (4,588) Net income (loss) 880 (6,508) (8,390) (4,971) (163,150) Preferred stock dividends and amortization 1,167 - 3,477 - 311 Net loss applicable to common shareholders $(287) $(6,508) $(11,867) $(4,971)$(163,461) Basic loss per common share $(0.03) $(0.65) $(1.14) $(0.50) $(16.31) Diluted loss per common share $(0.03) $(0.65) $(1.14) $(0.50) $(16.31) Weighted average common shares outstanding 10,984 10,023 10,373 10,017 10,021 Weighted average common shares outstanding, assuming dilution 10,984 10,023 10,373 10,017 10,021 SUPERIOR BANCORP AND SUBSIDIARIES UNAUDITED SUMMARY CONSOLIDATED FINANCIAL DATA (Dollars in thousands, except per share data) As of and for As of and for As of and for the Three Months the Nine Months the Year Ended Ended Ended September 30, September 30, December 31, -------------------- --------------------- ----------- 2009 2008 2009 2008 2008 --------- ---------- ---------- ---------- ----------- Selected Average Balances : Total assets $3,157,306 $3,053,069 $3,143,657 $2,980,931 $3,010,045 Total liabilities 2,914,116 2,705,133 2,896,711 2,630,594 2,659,816 Loans, net of unearned income 2,422,871 2,181,873 2,384,287 2,112,800 2,147,524 Mortgage loans held for sale 64,391 19,846 62,203 29,453 25,251 Investment securities 297,578 349,783 320,502 350,551 346,046 Total interest-earning assets 2,853,456 2,610,556 2,836,591 2,548,882 2,576,505 Noninterest-bearing deposits 251,696 219,037 243,094 218,478 218,486 Interest-bearing deposits 2,307,757 2,018,972 2,273,384 1,994,935 2,009,918 Advances from FHLB 228,679 374,562 262,757 320,685 335,393 Federal funds borrowed and security repurchase agreements 1,644 8,602 2,265 8,393 7,513 Subordinated debentures 60,743 54,660 60,796 53,996 55,736 Total interest- bearing liabilities 2,648,029 2,470,127 2,635,776 2,391,262 2,421,892 Stockholders' equity 243,190 347,935 246,946 350,337 350,229 Per Share Data: Net (loss) income - basic $(0.03) $(0.65) $(1.14) $(0.50) $(16.31) - diluted (5) $(0.03) $(0.65) $(1.14) $(0.50) $(16.31) Weighted average common shares outstanding - basic 10,984 10,023 10,373 10,017 10,021 Weighted average common shares outstanding - diluted (5) 10,984 10,023 10,373 10,017 10,021 Common book value per share at period end $14.82 $33.97 $14.82 $33.97 $17.83 Tangible common book value per share at period end $13.29 $15.64 $13.29 $15.64 $15.74 Preferred shares outstanding at period end 69 - 69 - 69 Common shares outstanding at period end 11,624 10,064 11,624 10,064 10,075 Performance Ratios and Other Data: Return on average assets(1) 0.11% (0.85)% (0.36)% (0.22)% (5.42)% Return on average tangible assets(1) 0.11 (0.90) (0.36) (0.24) (5.78) Return on average stockholders' equity(1) 1.44 (7.44) (4.54) (1.90) (46.58) Return on average tangible equity(1) 1.55 (15.88) (4.93) (4.04) (99.05) Net interest margin(1)(2)(3) 3.36 3.33 3.23 3.26 3.27 Net interest spread(1)(3)(4) 3.17 3.16 3.04 3.03 3.06 Average loan to average deposit ratio 97.18 98.38 97.22 96.79 97.50 Average interest- earning assets to average interest-bearing liabilities 107.76 105.69 107.62 106.59 106.38 Intangible assets - goodwill $- $162,390 $- $162,390 $- - core deposit intangible ("CDI") and other intangibles 17,784 22,052 17,784 22,052 21,052 Assets Quality Ratios: Nonaccrual loans $143,507 $51,451 $143,507 $51,451 $54,712 Accruing loans 90 days or more delinquent 9,102 8,268 9,102 8,268 8,033 Other real estate owned and repossessed assets 42,764 24,787 42,764 24,787 20,303 Total nonperforming assets ("NPAs") 195,373 84,506 195,373 84,506 83,048 Restructured loans, not included in total NPAs 21,743 1,818 21,743 1,818 2,643 Net loan charge-offs 4,336 1,877 9,115 5,341 7,130 Allowance for loan losses to nonperforming loans 22.50% 46.33% 22.50% 46.33% 45.98% Allowance for loan losses to loans, net of unearned income 1.41% 1.25% 1.41% 1.25% 1.25% NPA to loans plus NPAs, net of unearned income 7.89% 3.77% 7.89% 3.77% 3.56% NPAs to total assets 6.06% 2.72% 6.06% 2.72% 2.72% Net loan charge- offs to average loans(1) 0.71% 0.34% 0.51% 0.34% 0.33% Net loan charge- offs as a percentage of: Provision for loan losses 83.90% 81.48% 62.43% 52.66% 54.38% Allowance for loan losses(1) 50.10% 27.00% 35.36% 25.78% 24.71% (1)- Annualized for the three and nine-month periods ended September 30, 2009 and 2008. (2)- Net interest income divided by average earning assets. (3)- Calculated on a taxable equivalent basis. (4)- Yield on average interest-earning assets less rate on average interest-bearing liabilities. (5)- Common stock equivalents of 67,422 and 73,825, and 92,086 and 55,494 shares were not included in computing diluted earnings per share for the three and nine-month periods ending September 30, 2009 and 2008, respectively, and 65,226 shares for the year ended December 31, 2008 because their effects were antidilutive.

    Superior Bancorp

    CONTACT: Jim White, Chief Financial Officer, Superior Bancorp,
    +1-205-327-3656

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




    First Financial Bancorp to Announce Third Quarter 2009 Financial Results on Thursday, November 5, 2009

    CINCINNATI, Nov. 3 /PRNewswire-FirstCall/ -- First Financial Bancorp announced today that it expects to release third quarter 2009 financial results after market close on Thursday, November 5, 2009. A conference call and webcast to discuss results will be held on Friday, November 6, 2009 at 9:00 a.m. (ET).

    Conference Call & Webcast Details Date: Friday, November 6, 2009 Time: 9:00 a.m. ET Conference Call: Participants should join the live conference call 5 to 10 minutes before its scheduled start. The dial-in number is 800-860-2442. (passcode not required). Conference Call Replay: A replay of the call will be available approximately one hour after the live call has ended. The dial-in number for the replay is 877-344-7529 (passcode 435439). Webcast: http://www.bankatfirst.com/investor Archived Webcast: The archived webcast will be available approximately one hour after the live call has ended and will be archived at the company's website for 12 months. About First Financial Bancorp

    First Financial Bancorp is a Cincinnati, Ohio based bank holding company. At June 30, 2009, the company had $3.8 billion in assets, including $2.9 billion in loans and $2.8 billion in deposits. Its banking subsidiary, First Financial Bank, N.A., founded in 1863, provides consumer and commercial banking products and services, and investment and insurance products through its retail banking center network. Currently First Financial Bank, N.A. operates 128 banking centers. The bank's wealth management division, First Financial Wealth Resource Group, provides investment management, traditional trust, brokerage, private banking, and insurance services, and had approximately $1.7 billion in assets under management at June 30, 2009. Additional information about the company, including its products, services, and banking locations, is available at http://www.bankatfirst.com/investor.

    First Financial Bancorp

    CONTACT: Investors-Analysts: Patti Forsythe, Vice President, Investor
    Relations, +1-513-979-5837, patti.forsythe@bankatfirst.com; Media: Cheryl
    Lipp, First Vice President, Marketing Director, +1-513-979-5797,
    cheryl.lipp@bankatfirst.com

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




    Pannon Launches Novatel Wireless MiFi 2352Intelligent Mobile Wi-Fi Hotspot Providing Wireless Internet Connectivity for Multiple Devices Through a Hungarian Operator

    SAN DIEGO, Nov. 3 /PRNewswire-FirstCall/ -- Novatel Wireless, Inc. , a provider of wireless broadband access solutions and Mobilx, a distributor and e-tailer for data mobility offerings, today announced that Pannon, one of Hungary's leading mobile operators, is the first Hungarian operator to launch Novatel Wireless' MiFi 2352 Intelligent Mobile Hotspot.

    The MiFi 2352 Intelligent Mobile Hotspot represents a new category of mobile broadband device supporting a rich application environment for both enterprise customers and consumers. The device creates a portable, personal cloud of high-speed Internet connectivity that can be shared between multiple users and up to five Wi-Fi enabled devices such as laptops, MIDs, UMPCs, smartphones, cameras, gaming devices or portable media players. MiFi provides freedom from Wi-Fi hotspots, allowing users to bring Internet access anywhere and share that access with a set of Wi-Fi devices.

    "More and more people are using Pannon's mobile Internet service. This is due not only to the almost nationwide coverage and favorable package offers, but also to the wide range of devices available," said Niklas Lind, Pannon's Internet director. "With Novatel's MiFi mobile hotspot, we are once again exceeding customer demand. In fact, among all providers, it is Pannon's customers who can use 3G/HSPA connection in the most settlements in Hungary."

    "As the second largest mobile operator in Hungary, Pannon has the technology expertise and extensive customer base that will ensure the success of this unprecedented device," said Akos Gulyas, CEO of Mobilx. "As both professionals and personal users around the world demand more comprehensive and secure connectivity solutions, we are very pleased to work with Pannon to supply and support this and other innovative Novatel products to the European market."

    The internal (ROM) storage, up to 16GB of expandable memory via MicroSD creates a flexible and robust platform capable of supporting a variety of location-based applications and enabling the storage of personal content such as music, video and pictures. MiFi does not require any type of installation or previously installed software. Users simply need to turn on the unit to connect to Wi-Fi enabled handsets or devices.

    "As demand for innovative mobility solutions for business and personal use grows, partners such as Mobilx are crucial to Novatel as we work to expand our reach to all corners of the globe," said Rob Hadley, CMO, Novatel Wireless. "Mobilx has the established relationships and product expertise to help deliver the industry's most innovative solutions to markets throughout Europe."

    MiFi is currently available at Pannon's selected shops and via Pannon's Netshop.

    ABOUT PANNON

    Pannon is one of Hungary's leading mobile operators. A wholly-owned subsidiary of Telenor Group of Norway, Pannon was established in 1994 and it soon developed a strong presence in Hungary. By the end of Q2 2009, Pannon had 3.577 thousand active subscriptions and a market share of 33.59%. Besides voice services, Pannon's business is increasingly dominated by mobile Internet. In addition to its EDGE network available to 99% of Hungary's population for e-mail and browsing, Pannon is continuously developing its 3G/HSDPA network offering the highest mobile data transfer rates. The 3G/HSDPA network is currently available in 421 towns and villages across Hungary. Pannon is a leader also in the Hungarian CR landscape: its corporate responsibility initiatives include the annual CR Day, Pannon Peldakep Foundation, support for public causes, as well as arts and sports sponsorship.

    ABOUT MOBILX

    Mobilx is a added value distributor and e-commerce retailer for data mobility solutions, with a technical pre and post sales support centre in Debrecen, Hungary. They cover a wide market from Central-Eastern Europe into Middle East and beyond, and pride themselves on their logistics and technical support values. For more information on Mobilx visit http://www.mobilx.hu/.

    ABOUT NOVATEL WIRELESS

    Novatel Wireless, Inc. is a leader in the design and development of innovative wireless broadband access solutions based on 3G and 4G WCDMA (HSPA & UMTS), CDMA and GSM technologies. Novatel Wireless' USB modems, embedded modules, Intelligent Mobile Hotspot products and software enable high-speed wireless Internet access on leading wireless data networks. The Company delivers specialized wireless solutions to carriers, distributors, OEMs and vertical markets worldwide. Headquartered in San Diego, California, Novatel Wireless is listed on NASDAQ: NVTL. For more information please visit http://www.novatelwireless.com/. (NVTLG)

    This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, new product introductions, continued acceptance of Novatel Wireless' products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless' filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/) and other regulatory agencies.

    (C) 2009 Novatel Wireless. All rights reserved. The Novatel Wireless name, logo and MiFi are trademarks of Novatel Wireless, Inc. Other product or service names mentioned herein are the trademarks of their respective owners.

    Novatel Wireless, Inc.

    CONTACT: Julie Cunningham of Novatel Wireless, Inc., +1-858-431-3711,
    jcunningham@nvtl.com; or Cara Sloman of Nadel Phelan, +1-831-440-2411,
    cara@nadelphelan.com, for Novatel Wireless, Inc.

    Web Site: http://www.novatelwireless.com/
    http://www.mobilx.hu/




    ICE Clear Europe Marks One Year Anniversary; New Contracts, Real-Time Risk Management, CDS Clearing Contribute to 'Best Innovation' Designation

    LONDON, November 3 /PRNewswire/ --

    IntercontinentalExchange (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, today marked the one-year anniversary of the launch of ICE Clear Europe. Based in London, ICE Clear Europe launched on November 3, 2008, amid crisis in financial markets worldwide and during a period of significant demand for additional central clearing services.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20090727/CL51999LOGO )

    ICE Clear Europe ensures the integrity of trades in ICE's futures and over-the-counter (OTC) markets for energy and credit derivatives by eliminating counterparty and credit risk among market participants. Through leading edge technology, risk management systems and extensive default protections, ICE Clear Europe supports the needs of its clearing members and global market participants. The clearing house introduced cleared credit derivatives in July of 2009, demonstrating its flexibility to offer clearing services for an expanded range of asset classes.

    "The successful launch of ICE Clear Europe just six weeks after the collapse of Lehman Brothers illustrates the demand for, and benefits of, centralized clearing services in an expanded range of products and markets," said Paul Swann, President of ICE Clear Europe. "We are grateful to our members for their continued support, and we look forward to working with participants as we continue to expand our services to meet the dynamic requirements of our customers."

    "The growth of ICE's global energy OTC and futures markets following the launch of ICE Clear Europe has exceeded our expectations, particularly considering the challenges brought about by a highly volatile and uncertain financial market environment," said Jeffrey C. Sprecher, ICE Chairman and CEO. "Our vision for investing in central clearing has not only supported growth in our business, but also significant risk management enhancements to mitigate systemic risk."

    ICE Clear Europe Year One Achievements Key Statistics - Successfully transferred 28.5 million contracts sides to ICE Clear Europe on 3 November 2008, together with associated margin of approximately US$16.5 billion. ICE Clear Europe launched with 44 member firms. - Guaranty fund of US$650 million for energy clearing with additional powers of assessment resulting in total default protections of nearly US$2 billion; and a separate guaranty fund of over US$500 million for credit default swaps (CDS) clearing. - ICE Clear Europe offers clearing services for over 240 contracts and clears contracts with a notional value of approximately US$40 billion on a daily basis. - Recognized for "Best Innovation by a Clearing House, Europe, Middle East and Africa" by FOW, a leading global derivatives publication. Increased Product Range - Since the launch of ICE Clear Europe, ICE has introduced 150 cleared OTC and exchange-traded energy contracts resulting in enhanced risk management tools for market participants. Industry Leading Risk Management Regime - In July 2009, ICE Clear Europe introduced an intraday risk management methodology based on real-time price and trade feeds from ICE's energy markets. The methodology provides calculations of initial margin, realized and unrealized variation margin, and fully revalues all positions throughout the day. This methodology also provides the clearing house and all clearing members with trade, position, profit and loss and margin reports every five minutes, thereby substantially reducing intraday price risk. Operational Process Improvements - ICE Clear Europe has provided clearing members with a range of operational benefits, including the ability to directly administer misallocated trades and position transfers and electronic cash and collateral management systems; - Other operational enhancements include support for daily emissions futures contracts and the administration of record deliveries in all physically-delivered ICE Futures Europe contracts. Clearing for OTC Credit Derivatives - On 27 July, ICE Clear Europe launched a separate clearing solution for the European CDS market. As of 31 October, ICE Clear Europe's CDS clearing house had 11 clearing members and cleared euro 631 billion in notional value across 11,886 European index transactions, resulting in open interest of euro 67.5 billion.

    Additional information about ICE Clear Europe is available at https://www.theice.com/clear_europe.jhtml.

    A full list of ICE Clear Europe clearing members, is available at https://www.theice.com/clear_europe_membership.jhtml.

    About IntercontinentalExchange

    IntercontinentalExchange(R) (NYSE: ICE) operates leading regulated exchanges, trading platforms and clearing houses serving the global markets for agricultural, credit, currency, emissions, energy and equity index markets. ICE Futures Europe(R) hosts trade in half of the world's crude and refined oil futures. ICE Futures U.S.(R) and ICE Futures Canada(R) list agricultural, currency and Russell Index markets. ICE(R) offers trade execution and processing for the credit derivatives markets through Creditex(R) and ICE Link(TM), respectively, and CDS clearing through ICE Trust(TM). A component of the Russell 1000(R) and S&P 500 indexes, ICE serves customers in more than 50 countries and is headquartered in Atlanta, with offices in New York, London, Chicago, Winnipeg, Calgary, Houston and Singapore. www.theice.com

    The following are trademarks of IntercontinentalExchange, Inc. and/or its affiliated companies: IntercontinentalExchange, IntercontinentalExchange & Design, ICE, ICE and block design, ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE Trust, ICE Clear Europe, ICE Clear U.S., ICE Clear Canada, The Clearing Corporation, U.S. Dollar Index, ICE Link and Creditex. All other trademarks are the property of their respective owners. For more information regarding registered trademarks owned by IntercontinentalExchange , Inc. and/or its affiliated companies, see https://www.theice.com/terms.jhtml

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2008, as filed with the SEC on February 11, 2009.

    IntercontinentalExchange

    Investor & Media: Kelly Loeffler, VP, Investor Relations & Corp. Communications, +1-770-857-4726, kelly.loeffler@theice.com; Sarah Stashak, Director, Investor & Public Relations, +1-770-857-0340, sarah.stashak@theice.com, both of IntercontinentalExchange




    Redknee Named 2009 Internet Telephony BSS/OSS Excellence Award Winner

    TORONTO, November 3 /PRNewswire/ --

    - One Call Resolution Honored as Exceptional Customer Care Solution

    Redknee (TSX:RKN), a leading provider of business-critical billing and charging software and solutions for communications service providers, today announced that Technology Marketing Corporation (TMC) has named its customer care solution, One Call Resolution, a recipient of the 2009 INTERNET TELEPHONY BSS/OSS Excellence Award presented by INTERNET TELEPHONY magazine.

    One Call Resolution enables customer service representatives and tactical network support technicians to resolve complex network problems quickly and efficiently. The solution increases the 'first call resolution' of subscriber complaints and reduces call handling times by giving support representatives an aggregated view of subscriber services. It also allows operators to streamline and unify their customer care processes with quick and easy ties into existing ticketing and care systems, helping to increase customer satisfaction.

    Bohdan Zabawskyj, Chief Technology Officer at Redknee, said:

    "Redknee is honored to be included among this year's Internet Telephony BSS/OSS Excellence Award winners. As more service providers around the globe take steps to further prioritize customer care, One Call Resolution emerges as a key tool that enables them to keep customer service levels high and operations efficient, while reducing costs. With today's increasing complexity of network and service technologies and devices, Redknee's One Call Resolution provides value by helping to speed up the resolution of issues, ensuring that the subscriber's experience with both customer care representatives and their end-services are optimized."

    Commenting on Redknee's award win, Internet Telephony's Editorial Director Erik Linask stated:

    "The editors of INTERNET TELEPHONY were pleased to name Redknee a BSS/ OSS Excellence Award winner for their achievements in creating exceptional systems for supporting internal network operations or customer support solutions. One Call Resolution has proven its outstanding contribution to delivering winning solutions for its customers."

    TMC Chief Executive Officer Rich Tehrani commented further:

    "For recognition of their contributions to the growth and innovation displayed in the market, we are very pleased to present Redknee with a 2009 INTERNET TELEPHONY BSS/OSS Excellence Award. One Call Resolution has made an incredible contribution to BSS and OSS and has delivered great solutions for its clients."

    The 2009 INTERNET TELEPHONY Excellence Award winners are published in the November 2009 issue of INTERNET TELEPHONY magazine, www.itmag.com. For more information about Redknee and its award winning solutions, visit them at AfricaCom November 11-12 in Capetown, South Africa, or on their website at http://www.redknee.com.

    About Redknee:

    Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee's award-winning solutions enable operators to monetize the value of each subscriber transaction while personalizing the subscriber experience to meet mainstream, niche and individual market segment requirements. Redknee's revenue generating solutions provide advanced converged billing, rating, charging and policy for voice, messaging and new generation data services to over 70 network operators in over 50 countries. Established in 1999, Redknee Solutions Inc. (TSX: RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information, visit http://www.redknee.com.

    About INTERNET TELEPHONY magazine:

    INTERNET TELEPHONY has been the IP Communications Authority since 1998(TM). Beginning with the first issue in February of 1998, INTERNET TELEPHONY magazine has been providing unbiased views of the complicated converged communications space. INTERNET TELEPHONY offers rich content from solutions-focused editorial content to reviews on products and services from TMC Labs. INTERNET TELEPHONY magazine reaches more than 225,000 readers, including pass-along readers. For more information, please visit http://www.itmag.com.

    About TMC:

    Technology Marketing Corporation (TMC) is a global integrated media company, helping our clients build communities in print, in person and online. TMCnet, TMC's Web site, is the leading source of news and articles for the communications and technology industries. For more information about TMC, visit http://tmcnet.com/.

    For further information: Media Relations Contact: Ashleigh Young, Mi liberty, +44(0)20-7751-4444, ayoung@miliberty.com; Mark Yaphe, Vice President, Product Management & Marketing, +1-905-625-2298, mark.yaphe@redknee.com; TMC Contact: Jan Pierret, +1-203-852-6800, ext. 228 , jpierret@tmcnet.com; Redknee Solutions: David Charron, Chief Financial Officer, +1-905-625-2943; Investor Relations: Isabel Fernandes-Cunha, +1-905-625-2421, isabel.fernandes@redknee,com or investor_relations@redknee.com

    Redknee Solutions Inc.

    For further information: Media Relations Contact: Ashleigh Young, Mi liberty, +44(0)20-7751-4444, ayoung@miliberty.com; Mark Yaphe, Vice President, Product Management & Marketing, +1-905-625-2298, mark.yaphe@redknee.com; TMC Contact: Jan Pierret, +1-203-852-6800, ext. 228, jpierret@tmcnet.com; Redknee Solutions: David Charron, Chief Financial Officer, +1-905-625-2943; Investor Relations: Isabel Fernandes-Cunha, +1-905-625-2421, isabel.fernandes@redknee,com or investor_relations@redknee.com




    FXI and Atmel Create World's First microSD Gaming-Console for Mobile PhonesSiliconCity(R) Flexible Architecture offers easy migration from CAP(R) to a custom ARM-based SoC

    SAN JOSE, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Atmel® Corporation today announced that the world's first cross-platform mobile phone gaming consoles will be implemented in microSD cards, based on a system-on-chip (SoC) developed by FXI Technologies AS using Atmel's 90nm SiliconCity Flexible Architecture.

    When embedded in a microSD card, the FXI die can turn slot-enabled, hand-held devices into high-end "console gaming" platforms. The FXI SoC integrates a 3-D graphics accelerator, interface logic and ARM9(TM) processor that can be seamlessly coupled to the manufacturer's traditional flash memory. Video games played on an FXI-enabled microSD Card allow card vendors and others to offer an extremely compelling gaming experience. MicroSD card-based gaming consoles will be marketed by SD card vendors and gaming content providers, among others, and can be used in virtually any device with a microSD slot, irrespective of its manufacturer or the native application processor.

    According to Tom Hackenberg, Senior Analyst at IMS Research, "Annual shipments of mobile handsets that will include MicroSD card slots are expected to reach over 500 million units by mid 2010. Add to this display enhancements, storage increases, video compression and the proliferation of mobile applications and you have a recipe for disruptive technologies, as MicroSD does for handsets, what CDs did for computers."

    Isaac van Kempen, FXI's CEO said, "Traditionally, cell phone games have been limited to downloading games that use the same processor engine already in the device. MicroSD cards with FXI's die will include everything - the graphics accelerator, interface logic and high end ARM9 processor within the same microSD that stores gaming and other applications. It will vastly upgrade cell phone performance, while providing consumers a console-class gaming experience."

    "Atmel's SiliconCity Flexible Architecture has allowed us to build and package this functionality in a SoC with superior cost, power and performance advantages, but without the expense and long lead-times of a traditional custom ASIC. In addition, since Atmel's SiliconCity Flexible Architecture uses a standardized CAP9 design flow, the CAP9 development kits can be used as a game development platform. In fact, we are distributing the CAP9 board to game publishers and developers, so they can develop their software months before we have the microSD card silicon," van Kempen added.

    "Atmel's customizable CAP9 platform and kits for software development and IP creation combined with the Atmel's proven ARM-based IP and Flexible Architecture allows us to create a custom product for a new market segment in half the time," commented Isaac van Kempen, CEO of FXI. "If we had started from scratch without the CAP9 platform, we would be looking at a year-plus development cycle. As a start-up in fund-raising mode, the cost-savings to alternative paths has also provided FXI with key advantages," concluded van Kempen. Atmel's 90 nm SiliconCity Flexible Architecture is an extension of Atmel's CAP customizable MCU products. Based on Atmel's Metal-Programmable Cell Fabric (MPCF), Flexible Architecture provides up to 350K gates/mm2, comparable to the gate densities traditional standard cell ASICs, without the high NREs and lead times. The design flow is identical to that of a CAP device, with the exception that the OEM defines the processor and on-chip bus subsystems, memories and peripherals. In the case of CAP customizable MCUs, Atmel defines the platform, leaving a metal programmable block for customization.

    Jay Johnson, Atmel's Director of CAP marketing said, "The Silicon City Flexible Architecture gives OEMs like FXI the freedom to create their own unique base wafer architecture for multiple product variations while generously reducing customer design time, lowering the NRE and reducing risk through design reuse. Creating a traditional ASIC for these FXI products is too costly and time consuming. Unlike an ASIC, game developers for the FXI cards will have a development platform that will be good across all cell phones with microSD slots, without having to wait months for silicon."

    MPCF offers a smaller core cell with better routing. The key to the MPCF technology is a 6- transistor core cell that is less than 3.2 square microns. In the 90 nm process, a SiliconCity Flexible Architecture ASIC yields between 300,000 and 350,000 gates per square millimeter. A novel routing scheme provides two layers of metal for interconnect, increasing gate utilization up to 90%. The combination of the higher gate density and better routability of MPCF-based SoC results in die sizes that are about half those of previous 130 nm generations.

    Routing & Transistor Geometry Alignment. With MPCF, the cell size is matched perfectly to the integer multiple of the routing grid and transistor pitch, which results in no wasted silicon. In addition, contacts and vias are also the same size as metal trace, which eliminates any potential overlap and provides the most effective vertical use of silicon in the design. These aspects of MPCF make targeting the exact gate size required for the design much easier and more cost effective than the typical sea-of-gates architecture common with gate arrays and some early structured ASIC products.

    In addition, MPCF metal-programmable cells and standard cells can be placed in separate regions on the die or freely mixed without any die size penalty. Therefore the fixed platform part of the design can be implemented in standard cell technology, while the flexible portion of the die with MPCF for quick derivative spins.

    Easy Migration from Existing Processor-plus-FPGA Designs. Many existing designs based on an industry standard microcontroller and an FPGA may be directly migrated to a SiliconCity Flexible ASIC in as little as 20 weeks from final gate-level netlist with minimal re-engineering and low initial NRE mask charges. Future iterations of designs can be implemented in just 8-12 weeks with even lower single metal mask NRE charges.

    Using the CAP9, Atmel's ARM-based customizable microcontroller, FXI will perform hardware validation and simultaneous software development, so that game publishers can create compelling content in parallel with FXI's chip development while providing a seamless migration to the final product.

    "CAP to ASIC migration is the key to creating custom developments for faster time to market," said Jay Johnson, Marketing Director for Atmel's NA ASIC Business. "That's the real value of SiliconCity Flexible Architecture: helping customers create innovative market solutions faster and more cost effectively. FXI's end product will have a disruptive affect on the way consumers' view handheld gaming."

    The architecture relies on the breadth of Atmel's standard microcontroller solutions to create SoCs including the reusability and proven IP that Atmel offers through its AVR® and AT91SAM standard products. It also offers a migration path from industry standard microcontrollers to CAP and ASIC designs.

    Availability and Photo

    Products based on the 90nm SiliconCity Flexible Architecture are available now. FXI's OEM product will be available in 2010.

    To download a high-resolution of the CAP9 board, please click the following link: http://www.atmel.com/press/photos/CAP9_board.jpg.

    About FXI

    FXI is an OEM supplier of the world's first SOC die targeted to the ubiquitous microSD card format bringing robust application acceleration and console-class gaming to the broadest spectrum of cell phones. FXI Technologies AS headquarters are in Norway and the company has operations in Oslo, Norway and Fremont, California.

    About Atmel

    Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.

    © 2009 Atmel Corporation. All Rights Reserved. Atmel®, Atmel logo and combinations thereof, SiliconCity®, CAP®, AVR® and others, are registered trademarks, or trademarks of Atmel Corporation or its subsidiaries. ARM® is a registered trademark of ARM Ltd. Other terms and product names may be trademarks of others.

    Information:

    Atmel's SiliconCity Flexible Architecture information may be retrieved at: http://www.atmel.com/products/asic/architecture.asp?family_id=615

    Contacts:

    Clive Over, Public Relations Director Tel: (+1) 408 436-4305, Email: clive.over@atmel.com

    Atmel Corporation

    CONTACT: Clive Over, Public Relations Director of Atmel,
    +1-408-436-4305, clive.over@atmel.com

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




    CACI Awarded $23 Million Task Order to Support U.S. Army Special Projects OfficeAward Continues CACI Business Under the Army's Strategic Services Sourcing Contract Vehicle

    ARLINGTON, Va., Nov. 3 /PRNewswire-FirstCall/ -- CACI International Inc announced today that it has been awarded a new $23 million task order to provide engineering, technical, logistics and business management support to the U.S. Army Command, Control, Communications Technology (C3T) Special Projects Office (SPO). The task includes supporting multiple special projects as well as U.S. Central Command (CENTCOM). CACI currently supports these clients under other contracts and this award represents new business with their existing clients. The contract, for one base year and one option year, was competitively awarded under the Army's Strategic Services Sourcing (S3) contract vehicle. With this award CACI expands its business in C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance) and increases both the size and scope of its current business supporting Army C3T and CENTCOM.

    The C3T SPO and CENTCOM provide case support to foreign countries in need of counter terrorism solutions. The solutions range from designing and constructing border patrol facilities to fully integrating and deploying C4ISR solutions.

    CACI will provide program management, project integration and program coordination as well as engineering, technical, logistical, administrative, and business management support at Fort Monmouth, NJ and MacDill Air Force Base in Tampa, Fl.

    CACI President of U.S. Operations Bill Fairl said, "Our team provides proven expertise to the U.S. Army's Command, Control, Communications Technology Special Projects Office and U.S. Central Command that will help them effectively complete their missions. We are looking forward to expanding these efforts and continuing to provide the highest-quality services and solutions to the U.S. Army."

    According to CACI President and CEO Paul Cofoni, "CACI is proud to partner with the U.S. Army and Central Command. We are dedicated to helping our clients provide innovative services and solutions that support global security and stability for all nations."

    CACI provides professional services and IT solutions needed to prevail in the defense, intelligence, homeland security, and federal civilian government arenas. We deliver enterprise IT and network services; data, information, and knowledge management services; business system solutions; logistics and material readiness; C4ISR integration services; cyber solutions; integrated security and intelligence solutions; and program management and SETA support services. CACI services and solutions help our federal clients provide for national security, improve communications and collaboration, secure the integrity of information systems and networks, enhance data collection and analysis, and increase efficiency and mission effectiveness. CACI is a member of the Fortune 1000 Largest Companies and the Russell 2000 index. CACI provides dynamic careers for approximately 12,700 employees working in over 120 offices in the U.S. and Europe. Visit CACI on the web at http://www.caci.com/ and http://www.asymmetricthreat.net/.

    There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the following: regional and national economic conditions in the United States and the United Kingdom, including conditions that result from a prolonged recession; terrorist activities or war; changes in interest rates; currency fluctuations; significant fluctuations in the equity markets; failure to achieve contract awards in connection with recompetes for present business and/or competition for new business; the risks and uncertainties associated with client interest in and purchases of new products and/or services; continued funding of U.S. government or other public sector projects, based on a change in spending patterns, or in the event of a priority need for funds, such as homeland security, the war on terrorism or rebuilding Iraq; or an economic stimulus package; government contract procurement (such as bid protest, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the results of government investigations into allegations of improper actions related to the provision of services in support of U.S. military operations in Iraq; the results of government audit and reviews conducted by the Defense Contract Audit Agency or other government entities with cognizant oversight; individual business decisions of our clients; paradigm shifts in technology; competitive factors such as pricing pressures and/or competition to hire and retain employees (particularly those with security clearances); market speculation regarding our continued independence; material changes in laws or regulations applicable to our businesses, particularly in connection with (i) government contracts for services, (ii) outsourcing of activities that have been performed by the government, (iii) competition for task orders under Government Wide Acquisition Contracts ("GWACs") and/or schedule contracts with the General Services Administration; and (iv) accounting for convertible debt instruments; our own ability to achieve the objectives of near term or long range business plans; and other risks described in the company's Securities and Exchange Commission filings.

    Corporate Communications and Media: Investor Relations: Jody Brown, David Dragics, Executive Vice President, Senior Vice President, Public Relations Investor Relations (703) 841-7801, jbrown@caci.com (866) 606-3471, ddragics@caci.com

    CACI International Inc

    CONTACT: Corporate Communications and Media: Jody Brown, Executive Vice
    President, Public Relations, +1-703-841-7801, jbrown@caci.com, or Investor
    Relations: David Dragics, Senior Vice President, Investor Relations,
    +1-866-606-3471, ddragics@caci.com, both of CACI International Inc

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




    AirTran Holdings, Inc., to Present at Imperial Capital's Global Opportunities Conference

    ORLANDO, Fla., Nov. 3 /PRNewswire-FirstCall/ -- Arne G. Haak, senior vice president of Finance, Treasurer and Chief Financial Officer of AirTran Airways, a subsidiary of AirTran Holdings, Inc. , will present at the Imperial Capital's Global Opportunities Conference at 9:45 a.m. EST on Thursday, November 5, 2009.

    A live audio Webcast will be available at http://www.wsw.com/webcast/imperial2/aai/.

    AirTran Airways, a subsidiary of AirTran Holdings, Inc. , a Fortune 1000 company, has been ranked the number one low cost carrier in the Airline Quality Rating study for the past two years. AirTran is the only major airline with Wi-Fi on every flight and offers coast-to-coast service on North America's newest all-Boeing fleet. Its low-cost, high-quality product also includes assigned seating, Business Class and complimentary XM Satellite Radio on every flight. To book a flight, visit http://www.airtran.com/.

    Media Contacts: Christopher White Cynthia Tinsley-Douglas 678.254.7442

    AirTran Airways

    CONTACT: Christopher White, or Cynthia Tinsley-Douglas, +1-678-254-7442

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




    Navios Maritime Holdings Inc. to Present at Goldman Sachs Global Industrials Conference

    PIRAEUS, Greece, Nov. 3 /PRNewswire-FirstCall/ -- Navios Maritime Holdings Inc. ("Navios Holdings") , a global, vertically integrated seaborne shipping and logistics company, announced today that members of the management team will be presenting at the Goldman Sachs 2009 Global Industrials Conference in New York on Thursday, November 5, 2009 at 2:45 p.m. ET.

    A live and then archived webcast of Navios's presentation will be available on the Goldman Sachs website at http://cc.talkpoint.com/gold006/110409a_mg/?entity=10_THO3EFH. The slide presentation used at the conference will also be available on the Navios website at http://www.navios.com/ in the Investor Relations section.

    About Navios Maritime Holdings Inc.

    Navios Maritime Holdings Inc. is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. For more information please visit our website: http://www.navios.com/.

    Forward-Looking Statements

    This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Holdings' growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenues and time charters. Although Navios Holdings believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Holdings. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for drybulk vessels, competitive factors in the market in which Navios Holdings operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Holdings' filings with the Securities and Exchange Commission. Navios expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Holdings' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    Public & Investor Relations Contact: Navios Maritime Holdings Inc. +1.212.279.8820 investors@navios.com

    Navios Maritime Holdings Inc.

    CONTACT: Navios Maritime Holdings Inc., +1-212-279-8820,
    investors@navios.com

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




    Sterling Bancorp To Present At Sandler O'Neill & Partners East Coast Financial Services Conference On November 12, 2009

    NEW YORK, Nov. 3 /PRNewswire-FirstCall/ -- Sterling Bancorp , a financial holding company and the parent company of Sterling National Bank, today announced that President John C. Millman will address the Sandler O'Neill & Partners East Coast Financial Services Conference, to be held later this month. The Sterling Bancorp presentation will take place on Thursday, November 12, 2009 at 7:10 a.m. Eastern Standard Time.

    A webcast of the Sterling presentation can be accessed at http://www.sandleroneill.com/ or via Sterling's website at http://www.sterlingbancorp.com/. In order to access the Sterling presentation, please go to either link prior to the start time to register for the conference and obtain a passcode. The presentation also will be archived for 30 days, beginning on November 13, 2009, and can be accessed via the same web links.

    The Sterling presentation also will be accessible via telephone, at (617) 614-4072 (passcode "Session Four") at 7:10 a.m. on November 12, 2009.

    About Sterling Bancorp

    Sterling Bancorp is a New York-based banking and financial services company with assets exceeding $2.1 billion. Established in 1929, the Company's principal banking subsidiary, Sterling National Bank, has successfully served the needs of businesses, professionals and individuals in the NY metropolitan area and beyond. Now in its 80th year, Sterling is well known for its focus on business customers, an extensive and diverse product portfolio and a high-touch, hands-on approach to customer service.

    Sterling offers working capital lines, asset-based financing, factoring, accounts receivable financing and management, payroll funding and processing, equipment leasing and financing, commercial and residential mortgages, import trade financing, a wide array of depository products and cash management services, trust and estate administration and custodial account services.

    Sterling Bancorp

    CONTACT: John Tietjen, Chief Financial Officer, Sterling Bancorp,
    john.tietjen@sterlingbancorp.com, +1-212-757-8035, or Edward Nebb, Investor
    Relations, Comm-Counsellors, LLC, enebb@optonline.net, +1-203-972-8350

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




    Video: For Performance-Hungry Applications on a Strict Power Budget, TI's New Six-Core, High-Performance Processors Deliver Industry's Best Power EfficiencyTI's new multicore devices deliver up to the equivalent of 4.2 GHz of processing capability for high-end industrial applications and embedded systems where performance and energy efficiency are critical

    DALLAS, Nov. 3 /PRNewswire/ -- Texas Instruments Incorporated (TI) today announced the availability of the industry's most power efficient, six-core DSP (digital signal processor), the TMS320C6472, targeted at process-intensive applications requiring low power consumption. To help evaluate the performance of the C6472 devices more easily and affordably, TI is also offering a multicore processors evaluation module (EVM), the TMDXEVM6472, for USD $349.

    To view the Multimedia News Release, go to: http://multivu.prnewswire.com/mnr/ti/39148/

    (Photo: http://www.newscom.com/cgi-bin/prnh/20010105/NEF016LOGO)

    With the C6472, TI has broken the power performance barrier by fully optimizing the device for applications where performance per watt is a critical requirement. The C6472 DSP offers the lowest power consumption with the highest processing performance of any multicore DSP with the total of 3GHz performance in the market, performing at 3.7W performance and 0.15 mW/MIPS. TI's power-efficient C6472 was designed to support applications that drive many channels, demand maximum performance density and for which designers must have access to sophisticated functions. Additionally, many applications utilizing the C6472 will not require any external memory, further improving the power profile and cost effectiveness of the device. These devices are ideal for markets such as high-end industrial, test and measurement, communication, medical imaging, high-end imaging and video, and blade server. TI provides extensive support for the C6472, including an evaluation module, robust software libraries and a third-party ecosystem, to further facilitate the process of writing code that runs optimally on multicore devices. For more information on TI's C6472 high-performance multicore DSP, please visit: http://www.ti.com/c6472pr-wn

    C6472 DSP key features and benefits: -- Six high-speed C64X+ DSP cores running at 500MHz, 625MHz, 700MHz, and fully backward compatible with other C64X DSP cores. -- Up to 4.2 GHz/33600 MMACs and 4.8 MB on-chip L1/L2 RAM. -- Offers best power efficiency in the industry with 3GHz performance at 0.15 mW/MIPS. -- Optimized DSP architecture maximizes subsystem performance on a chip. One of the advantages of this architecture is that in addition to dedicated L1 and L2 memory to each core, the C6472 features 768KB shared L2 program/data memory and a shared memory controller to facilitate high efficient and flexible inter DSP core communications. -- Contains rich device peripherals which include: GigaBit Ethernet, Serial RapidIO (SRIO), DDR2, telecom serial interface port (TSIP), host port interface (HPI), Utopia, Inter-Integrated Circuit (I2C) Bus (I2C) and general purpose input/output (GPIO). Developer network for the C6472: -- Adaptive Digital Technologies (Adaptive Digital): Manufacturers leveraging Adaptive Digital's field-proven DSP algorithms and G.PAK(TM) framework can support applications such as high-density VoIP, AT&T-certified G.168 echo cancellation, conferencing, and transcoding. -- ENEA: With optimized multicore support for the TI C6472, the Enea OSEck® RTOS along with the Enea LINX® scalable and reliable messaging layer, plus secure IP/signaling/NGN media networking protocols delivers exceptional reliability, performance and time-to-market acceleration. Enea dSPEED® data plane management framework and Enea Optima® eclipse-based system debugging tools supports comprehensive remote management/monitoring of deployed systems and system level visualization in the design lab. -- RadiSys: The RadiSys Promentum® ATCA-9100-TI is an ATCA media processing blade that includes two purpose-built mezzanine cards to house up to 20 6-core TI C6472 per blade providing the highest density of media processing through the use of the latest multicore DSP silicon from TI for applications such as IPTV and Mobile Video/TV. -- Sundance Multiprocessor Technologies Ltd: Sundance's EVP6472 supports two TI C6472 multicore DSPs, closely coupled to a state-of-the-art FPGA and is supported by 3L's Diamond RTOS and TI's CCS tools for rapid prototyping/debugging of applications. The EVP6472 will be introduced at USD $2,000 for a limited period and will ship in December 2009. -- SURF: When combined with TI's C6472, SURF enables multimedia applications by providing a leading DSP-based video & voice engine, which includes multi-screen transcoding, video streaming, high-scale conferencing, content enrichment, quality boosting and more. Manufacturers leveraging SURF's comprehensive toolbox can significantly broaden their product portfolio, enrich applications, achieve superior QoE, shorten time-to-market and focus on creative applications and services. Pricing and availability:

    The TMS320C6472 is available starting at USD $140 in quantities of 1K units. To help speed development, developers can take advantage of the low cost high performance evaluation module TMDXEVM6472 for USD $349.

    Find out more about TI's C6472 DSP by visiting the links below: -- C6472 Overview Page: http://www.ti.com/c6472pr-wn -- C6472 Product Folder: http://www.ti.com/c6472pr-pf -- C6472 EVM Folder: http://www.ti.com/c6472pr-evmf -- Related White Paper: http://www.ti.com/c6472pr-wp -- Dapco Customer News Release: http://www.ti.com/c6472-pr-customer -- DSP Selection Tool: http://www.ti.com/c6472pr-dsptool -- C6472 on E2E Community: http://www.ti.com/c6472pr-e2e -- C6472 Video Overview and Demo: http://www.ti.com/c6472pr-v -- Multicore microsite: http://www.ti.com/c6472pr-multicore -- TI E-store: http://www.ti.com/c6472pr-estore -- Follow TI on Twitter: http://bit.ly/REsI6 About Texas Instruments

    Texas Instruments helps customers solve problems and develop new electronics that make the world smarter, healthier, safer, greener and more fun. A global semiconductor company, TI innovates through design, sales and manufacturing operations in more than 30 countries. For more information, go to http://www.ti.com/.

    Trademarks

    TMS320C64x and C64x+ are trademarks of Texas Instruments. All other trademarks and registered trademarks belong to their respective owners.

    TXN-P

    Photo: http://www.newscom.com/cgi-bin/prnh/20010105/NEF016LOGO Video: http://multivu.prnewswire.com/mnr/ti/39148 Texas Instruments

    CONTACT: Cindy Warschauer, Texas Instruments, +1-214-567-2463,
    chuff@ti.com; or Alex Tan, GolinHarris, +1-972-341-2533, atan@golinharris.com

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




    Webcast of QIAGEN N.V.'s (Nasdaq: QGEN) Third Quarter 2009 Financial Results Call Set for November 10

    VENLO, Netherlands, Nov. 3 /PRNewswire-FirstCall/ -- QIAGEN N.V. today announced the Webcast of its third quarter 2009 financial results call. The Webcast will take place at 9:30 a.m. EST on Tuesday, November 10, and will include remarks by Peer M. Schatz, President and Chief Executive Officer, and Roland Sackers, Chief Financial Officer.

    What: Webcast of QIAGEN's third quarter 2009 financial results call When: 9:30 a.m. EST on November 10 Where: The Webcast is accessible at http://www.qiagen.com/goto/ConferenceCall How: Log on to the Web at the address above

    The corresponding presentation slides are available for download in the investor relations section of QIAGEN's Web site at http://www.qiagen.com/goto/ConferenceCall.

    Contact: Andreas Marathovouniotis, Russo Partners, (212) 845-4235

    QIAGEN N.V., a Netherlands holding company, is the leading provider of sample and assay technologies. Sample technologies are used to isolate and process DNA, RNA and proteins from biological samples such as blood or tissue. Assay technologies are used to make such isolated biomolecules visible. QIAGEN has developed and markets more than 500 consumable products as well as automated solutions for such consumables. The company provides its products to molecular diagnostics laboratories, academic researchers, pharmaceutical and biotechnology companies, and applied testing customers for purposes such as forensics, animal or food testing and pharmaceutical process control. QIAGEN's assay technologies include what is considered to be the broadest panel of molecular diagnostic tests available worldwide. This panel includes the only FDA-approved test for human papillomavirus (HPV), the primary cause of cervical cancer.

    QIAGEN employs more than 3,200 people in over 30 locations worldwide. Further information about QIAGEN can be found at http://www.qiagen.com/.

    (Minimum Requirements to listen to broadcast: The RealPlayer software, downloadable free from http://www.real.com/products/player/index.html, or The Windows Media Player, downloadable free from http://www.microsoft.com/ and at least a 14.4Kbps connection to the Internet. If you experience problems listening to the broadcast, send an email to prnwebcast@multivu.com.)

    QIAGEN N.V.

    CONTACT: Andreas Marathovouniotis, Russo Partners, +1-212-845-4235

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




    Idenix Pharmaceuticals Initiates Phase II Clinical Trial of IDX184 in Combination With Pegylated Interferon and Ribavirin for the Treatment of Hepatitis C Virus (HCV)

    CAMBRIDGE, Mass., Nov. 3 /PRNewswire-FirstCall/ -- Idenix Pharmaceuticals, Inc. , a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases, announced today that it has initiated a Phase II clinical trial evaluating IDX184, a liver-targeted nucleotide prodrug candidate for the treatment of HCV, in combination with pegylated interferon and ribavirin, in treatment-naive hepatitis C genotype 1-infected patients. Antiviral activity, safety and tolerability of the triple combination will be assessed at 14 days. Patients will continue on treatment with pegylated interferon and ribavirin for 14 days and Rapid Viral Response (RVR), the proportion of patients with undetectable virus at week 4, will be determined at Day 28.

    "IDX184 was well tolerated and exhibited favorable antiviral activity in the initial 3-day, proof-of-concept study," said Douglas Mayers, M.D., chief medical officer of Idenix. "We look forward to evaluating IDX184 over a longer treatment period and as a component of combination therapy. This trial will also help us determine the optimal doses for broader clinical development."

    The clinical trial is a Phase II, randomized, double-blind, placebo-controlled, sequential dose-escalation study evaluating the safety, tolerability, pharmacokinetics and antiviral activity of IDX184 in combination with pegylated interferon and ribavirin in treatment-naïve HCV genotype 1-infected patients. Patients will receive a daily dose of IDX184 or placebo plus pegylated interferon and ribavirin for 14 days and then continue on pegylated interferon and ribavirin for an additional 14 days. Antiviral activity will be assessed at the 14-day and 28-day timepoints. All patients in the study will have the option to continue pegylated interferon and ribavirin for up to 48 weeks. Four doses of IDX184 ranging from 50 to 200 mg per day will be evaluated. Each cohort of the study will evaluate twenty patients randomized 16 to IDX184 and 4 to placebo. This study is being conducted at multiple centers in the United States and Argentina.

    About IDX184

    IDX184 is a novel, liver-targeted nucleotide prodrug of 2'-methyl guanosine, which includes Idenix's proprietary liver-targeting technology. This technology enables the delivery of nucleoside monophosphate to the liver, leading to the formation of high levels of nucleoside triphosphate, thus potentially maximizing drug efficacy and limiting systemic side effects.

    About Idenix

    Idenix Pharmaceuticals, Inc., headquartered in Cambridge, Massachusetts, is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases. Idenix's current focus is on the treatment of infections caused by the hepatitis C virus. For further information about Idenix, please refer to http://www.idenix.com/.

    Forward-looking Statements

    This press release contains "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of forward-looking terminology such as "expect," "plans," "anticipates," "will," "expects," "goal" or similar expressions, or by express or implied statements with respect to the company's clinical development programs or commercialization activities in hepatitis C, or any potential pipeline candidates, including any expressed or implied statements regarding the efficacy and safety of IDX184, the likelihood and success of any future clinical trials involving IDX184 or successful development of novel combinations of direct-acting antivirals for the treatment of hepatitis C. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantees that the company will advance any clinical product candidate or other component of its potential pipeline to the clinic, to the regulatory process or to commercialization. In particular, management's expectations could be affected by unexpected regulatory actions or delays; uncertainties relating to, or unsuccessful results of, clinical trials, including additional data relating to the ongoing clinical trials evaluating its product candidates; the company's ability to obtain additional funding required to conduct its research, development and commercialization activities; changes in the company's business plan or objectives; the ability of the company to attract and retain qualified personnel; competition in general; and the company's ability to obtain, maintain and enforce patent and other intellectual property protection for its product candidates and its discoveries. These and other risks which may impact management's expectations are described in greater detail under the caption "Risk Factors" in the company's annual report on Form 10-K for the year ended December 31, 2008 and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2009, as filed with the Securities and Exchange Commission (SEC) and other filings that the company makes with the SEC.

    All forward-looking statements reflect the company's expectations only as of the date of this release and should not be relied upon as reflecting the company's views, expectations or beliefs at any date subsequent to the date of this release. Idenix anticipates that subsequent events and developments may cause these views, expectations and beliefs to change. However, while Idenix may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so.

    Idenix Pharmaceuticals Contact:

    Teri Dahlman (617) 995-9905

    Idenix Pharmaceuticals, Inc.

    CONTACT: CONTACT: Teri Dahlman of Idenix Pharmaceuticals,
    +1-617-995-9905

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




    Activision Partners With Leading Mental Health and Media Researcher Dr. Cheryl Olson on 'Ratings Are Not a Game' Education InitiativeSeries of Educational Videos Provides Parents With Tips And Information About Video Games In Time for the Holidays

    SANTA MONICA, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Activision Publishing, Inc. today announced a partnership with Dr. Cheryl Olson, co-director for the Center for Mental Health and Media at Massachusetts General Hospital, that will help parents and teachers optimize children's experience with video games. The alliance supports Activision's "Ratings Are Not a Game®" initiative, which focuses on educating consumers about the Entertainment Software Rating Board's rating system and helping parents make informed decisions about the video games their families play.

    Through this new partnership, Activision worked with Dr. Olson to produce seven videos that provide parents with information and tips on understanding their child's perspective on video games, and ways that video games can benefit parent-child relationships. The first two segments - -"How Can I Tell If A Game Is Appropriate For My Child And How Do I Set Play Limits" and "Using Video Games To Teach Problem Solving And Planning," - - are available now at http://www.activision.com/RatingsAreNotAGame.

    "Activision is committed to providing consumers with guidelines and information to help them determine which video games are most appropriate for their families," said Mike Griffith, president and CEO of Activision Publishing. "We are proud to partner with Dr. Olson and believe that these videos will be informative and useful tools for families."

    "I'm pleased to partner with Activision on this initiative, and applaud their consideration for parents' concerns," said Cheryl Olson, who holds a doctorate in health and social behavior from the Harvard School of Public Health "As a parent myself, I know there are so many things to worry about and not enough time, especially during the holiday season. These videos give practical research-based advice on how to help your kids--and your family--get more out of video games, and how to watch for and limit electronic game play."

    About Activision Publishing, Inc.

    Headquartered in Santa Monica, California, Activision Publishing, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products.

    Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Ireland, Italy, Sweden, Spain, the Netherlands and Australia. More information about Activision and its products can be found on the company's website, http://www.activision.com/.

    Cautionary Note Regarding Forward-looking Statements: Information in this press release that involves Activision Publishing's expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. Activision Publishing generally uses words such as "outlook," "will," "could," "would," "might," "remains," "to be," "plans," "believes," "may," "expects," "intends," "anticipates," "estimate," future," "plan," "positioned," "potential," "project," "remain," "scheduled," "set to," "subject to," "upcoming" and similar expressions to help identify forward-looking statements. Factors that could cause Activision Publishing's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, sales levels of Activision Publishing's titles, shifts in consumer spending trends, the impact of the current macroeconomic environment, the seasonal and cyclical nature of the interactive game market, Activision Publishing's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of Activision Publishing's products, adoption rate and availability of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, litigation against Activision Publishing, maintenance of relationships with key personnel, customers, vendors and third-party developers, domestic and international economic, financial and political conditions and policies, foreign exchange rates, integration of recent acquisitions and the identification of suitable future acquisition opportunities, Activision Blizzard's success in integrating the operations of Activision Publishing and Vivendi Games in a timely manner, or at all, and the combined company's ability to realize the anticipated benefits and synergies of the transaction to the extent, or in the timeframe, anticipated, and the other factors identified in Activision Blizzard's most recent annual report on Form 10-K and any subsequent quarterly reports on Form 10-Q. The forward-looking statements in this release are based upon information available to Activision Publishing and Activision Blizzard as of the date of this release, and neither Activision Publishing nor Activision Blizzard assumes any obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of the future performance of Activision Publishing or Activision Blizzard and are subject to risks, uncertainties and other factors, some of which are beyond its control and may cause actual results to differ materially from current expectations.

    Activision Publishing, Inc.

    CONTACT: Ashley Dyer, Sr. Manager, Corp. Comm., Activision Publishing,
    Inc, +1-310-255-2548, adyer@activision.com

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

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




    Valeant Pharmaceuticals Highlights Taribavirin Phase IIb End of Study Data Presentation at American Association for the Study of Liver Disease (AASLD) Annual Meeting

    ALISO VIEJO, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Valeant Pharmaceuticals today announced that results from the week-72 analysis for its Phase IIb dose-finding clinical trial for taribavirin, a prodrug of ribavirin which is in development for the treatment of chronic hepatitis C in conjunction with a pegylated interferon, were presented at the American Association for the Study of Liver Disease (AASLD) 60th Annual Meeting in Boston. It is believed that taribavirin (TBV) may present an alternative therapy to ribavirin (RBV) for the treatment of hepatitis C by delivering similar efficacy to ribavirin but with significantly less anemia, which is the main treatment-limiting toxicity associated with ribavirin.

    The results were presented in an abstract entitled "Sustained Virologic Response Results for Weight-Based Taribavirin Versus Weight-Based Ribavirin, in Naïve Chronic Hepatitis C, Genotype 1 Patients", with an oral presentation given by Fred Poordad, M.D., Chief of Hepatology at the Center for Liver Disease and Transplant, Cedars-Sinai Medical Center, Los Angeles, CA and principal investigator in this study.

    "The final results of this Phase IIb study are promising, and imply that comparable efficacy can be achieved when compared to ribavirin," said Dr. Poordad. "As is known for ribavirin, low doses are associated with a high relapse rate and, except for the lowest dose with taribavirin, relapse rates are also comparable to ribavirin. The safety of this ribavirin analog is of particular relevance in that its use is associated with significantly less anemia in an evolving era of small molecule therapies, where anemia appears to be more problematic."

    The company has previously reported results from this Phase IIb trial exploring weight- based dosing of taribavirin at 20, 25 and 30mg/kg vs. weight-base dosed ribavirin 800-1400mg. The study consisted of 48 weeks of treatment with a 24-week post-treatment follow-up period. Consistent with previous reports, the viral response data continued to show comparable reductions in viral load for weight-based doses of taribavirin and ribavirin in a difficult-to-treat population of subjects infected with hepatitis C genotype 1 and end-of-study sustained virologic response rates were again comparable across the treatment groups. Relapse rates were identical for taribavirin 25mg/kg and weight-based doses of ribavirin. Importantly, the statistically significantly lower anemia rate for patients receiving taribavirin in the 20mg/kg and 25mg/kg arms versus the ribavirin control arm has been maintained at a rate similar to the end-of- treatment (week 48) throughout.

    Table: Efficacy/Safety (intent-to-treat) Phase IIb --------- TBV TBV TBV RBV 20 mg/kg 25 mg/kg 30 mg/kg 800-1400mg n=67 n=70 n=68 n=70 ------------------------------------------------------------------------- TW4 Undetectable(1) 11 (16.4%) 10 (14.3%) 11 (16.2%) 8 (11.4%) ------------------------------------------------------------------------- TW12 Undetectable(1) 28 (41.8%) 29 (41.4%) 17 (25.0%) 22 (31.4%) ------------------------------------------------------------------------- TW48 Undetectable(1) 30 (44.8%) 27 (38.6%) 23 (33.8%) 26 (37.1%) ------------------------------------------------------------------------- SVR Undetectable(1) 19 (28.4%) 19 (27.1%) 19 (27.9%) 19 (27.1%) ------------------------------------------------------------------------- Relapse Rate 10 (34.5%) 5 (20.8%) 3 (13.6%) 5 (20.8%) ------------------------------------------------------------------------- Anemia 48 weeks(2) 9 (13.4%)* 11 (15.7%)* 19 (27.9%) 23 (32.9%) ------------------------------------------------------------------------- (1) HCV RNA < 39 IU/mL (2) Anemia: hemoglobin < 10g/dL *P<0.05 vs. RBV

    The most common adverse events during treatment were fatigue, nausea, flu-like symptoms, diarrhea, and insomnia. The incidence rates for these adverse events among treatment arms were generally comparable except with respect to diarrhea, where incidence of diarrhea was approximately twice as common in patients receiving taribavirin compared to patients receiving ribavirin. However, the diarrhea was generally mild and not treatment limiting for taribavirin or ribavirin patients.

    The Phase IIb trial was a U.S. multi-center, randomized, parallel, open-label study in 278 treatment-naive, genotype 1 patients evaluating taribavirin at weight-based doses of 20 mg/kg, 25 mg/kg, and 30 mg/kg per day in combination with pegylated interferon alfa-2b. The control group was administered weight-based dose ribavirin (800/1000/1200/1400mg daily) and pegylated interferon alfa-2b. Overall treatment duration was 48 weeks with a post-treatment follow-up period of 24 weeks.

    About Taribavirin

    Taribavirin is an investigational compound that has not been found by the Food and Drug Administration (FDA) or any other regulatory agency to be safe or effective in the diagnosis, mitigation, treatment or cure of any disease or illness. It may not be sold or promoted in the United States unless and until approved for marketing by the FDA. Similar restrictions apply in other countries.

    About Study 204

    In the Phase IIb study (previously disclosed as Study 204), 278 treatment naïve, genotype 1 patients were randomized with the following patient demographics: mean age 48.8 yr, 61.1% male, 30% African-American or Latino, 80.7% viral load >=400,000 IU/mL and 82.1 kg mean weight. Week 72 efficacy and safety results for the intention-to-treat (ITT) population are shown in the table above.

    About Valeant

    Valeant Pharmaceuticals International is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology and dermatology. More information about Valeant can be found at http://www.valeant.com/.

    FORWARD-LOOKING STATEMENTS

    This press release may contain forward-looking statements, including, but not limited to, statements regarding the potential for taribavirin in the treatment of hepatitis C, and the continuing role of ribavirin or taribavirin in the treatment of hepatitis C, Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in the company's most recent annual or quarterly report filed with the U.S. Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

    Contact: Laurie W. Little, Valeant Pharmaceuticals 949-461-6002 laurie.little@valeant.com (Logo: http://www.newscom.com/cgi-bin/prnh/20081125/VALEANTLOGO)

    Photo: http://www.newscom.com/cgi-bin/prnh/20081125/VALEANTLOGO
    http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com Valeant Pharmaceuticals International

    CONTACT: Laurie W. Little of Valeant Pharmaceuticals, +1-949-461-6002,
    laurie.little@valeant.com

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




    Amicus Therapeutics Appoints Margaret G. McGlynn, R.Ph., to Board of Directors

    CRANBURY, N.J., Nov. 3 /PRNewswire-FirstCall/ -- Amicus Therapeutics today announced the appointment of Margaret G. McGlynn, R.Ph., to its Board of Directors. Ms. McGlynn most recently served as President of Vaccines and Infectious Diseases for Merck & Co., Inc.

    John F. Crowley, President and CEO of Amicus Therapeutics stated, "Margie's vast industry expertise and insight will be invaluable to Amicus as we execute on our key strategic priorities and continue our focus on building shareholder value with our innovative technologies. We are very pleased to welcome her to our Board."

    About Margaret G. McGlynn, R.Ph.

    Margaret McGlynn recently retired from Merck & Co., Inc. after more than 26 years of service. Her most recent role was President of Merck Vaccines and Infectious Diseases from 2005 through November 2009. McGlynn joined Merck in 1983 and served in a variety of marketing, sales and managed care roles. In addition to her position at Merck, McGlynn serves as a member of the Board of Directors for Air Products and Chemicals. She is also a member of the National Industrial Advisory Committee at the University at Buffalo School of Pharmacy and Pharmaceutical Sciences and recently served as a member of the Global Alliance for Vaccine Immunization (GAVI) Board and Executive Committee. McGlynn holds a B.S. in Pharmacy and a MBA in Marketing from the State University of New York at Buffalo.

    About Amicus Therapeutics

    Amicus Therapeutics is a late-stage biopharmaceutical company developing novel, oral therapeutics known as pharmacological chaperones for the treatment of a range of human genetic diseases. Amicus is initially targeting lysosomal storage disorders and diseases of neurodegeneration with unmet medical needs.

    FOLD -G

    Amicus Therapeutics

    CONTACT: Jenene Thomas, Director, Investor Relations, +1-609-662-5084,
    for Amicus Therapeutics

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




    Verenium Corporation to Present at the Thomas Weisel Partners Alternative Energy & Natural Resources Conference

    CAMBRIDGE, Mass., Nov. 3 /PRNewswire-FirstCall/ -- Verenium Corporation , a pioneer in the development of next-generation cellulosic ethanol and high-performance specialty enzymes, announced today that James Levine, Executive Vice President and Chief Financial Officer, will present at the upcoming Thomas Weisel Partners 2009 Alternative Energy and Natural Resources Conference. The presentation is expected to begin at 11:30 a.m. ET on Tuesday, November 10, and will take place at the New York Palace Hotel in New York City.

    More information about this event, including a live webcast, may be accessed by visiting the "Investors" section of Verenium's website at http://www.verenium.com/. A webcast replay will be available approximately one hour after the live webcast ends and will be accessible for one month following the conference.

    About Verenium

    Verenium Corporation is a leader in the development and commercialization of cellulosic ethanol, an environmentally-friendly and renewable transportation fuel, as well as high-performance specialty enzymes for applications within the biofuels, industrial, and animal health markets. The Company possesses integrated, end-to-end capabilities and cutting-edge technology in pre-treatment, novel enzyme development, fermentation and project development for next-generation biofuels. Through Vercipia, a 50-50 joint venture with BP, the Company is moving rapidly to commercialize cellulosic technology for the production of ethanol from a wide array of non-food feedstocks, including dedicated energy crops, agricultural waste, and wood products. In addition to the vast potential for biofuels, a multitude of large-scale industrial opportunities exist for the Company for products derived from the production of low-cost, biomass-derived sugars.

    Verenium's Specialty Enzyme business harnesses the power of enzymes to create a broad range of specialty products to meet high-value commercial needs. Verenium's world class R&D organization is renowned for its capabilities in the rapid screening, identification, and expression of enzymes-proteins that act as the catalysts of biochemical reactions. For more information on Verenium, visit http://www.verenium.com/.

    Forward Looking Statements

    Statements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty. These include, but are not limited to, statements related to the Company's operations, capabilities, commercialization activities, target markets, cellulosic ethanol facilities, target markets and future financial performance, results and objectives, all of which are prospective. Such statements are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to the differences include, but are not limited to, risks associated with Verenium's technologies, risks associated with the costs, labor requirements and labor availability associated with Verenium's demonstration plant, risks associated with Verenium's ability to obtain additional capital to support its planned operations and financial obligations, risks associated with Verenium's dependence on patents and proprietary rights, risks associated with Verenium's protection and enforcement of its patents and proprietary rights, technological, regulatory, competitive and other risks related to development, production, and commercialization of cellulosic ethanol and other biofuels and the commercial prospects of those industries, Verenium's dependence on existing collaboration, manufacturing, and/or license agreements, and its ability to achieve milestones under existing and future collaboration agreements, the ability of Verenium and its partners to commercialize its technologies and products (including by obtaining any required regulatory approvals) using Verenium's technologies and timing for launching any commercial products and projects, the ability of Verenium and its collaborators to market and sell any products that it or they commercialize, the development or availability of competitive products or technologies, the future ability of Verenium to enter into and/or maintain collaboration and joint venture agreements and licenses, changes in the U.S. or global energy markets and laws and regulations applicable to them, and risks and other uncertainties more fully described in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's annual report on Form 10-K for the year ended December 31, 2008 and any updates contained in its subsequently filed quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof, and the Company expressly disclaims any intent or obligation to update these forward-looking statements.

    Contact: Sarah Carmody Sr. Corporate Communications Associate 617-674-5357 sarah.carmody@verenium.com

    Verenium Corporation

    CONTACT: Sarah Carmody, Sr. Corporate Communications Associate of
    Verenium Corporation, +1-617-674-5357, sarah.carmody@verenium.com

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




    Ingram Micro's New Physical Security Division Offers Expertise and Support to Channel PartnersNew Division Simplifies the Sale by Offering Channel Partners a Single Source for Physical Security Solutions

    SANTA ANA, Calif., Nov. 3 /PRNewswire/ -- Helping value-added resellers (VARs) and managed service providers (MSPs) specialize and expand their service offerings, Ingram Micro Inc. today announced its new Physical Security Division.

    Led by Tom Burns, Director, Ingram Micro North America, the new Division brings together an extensive portfolio of physical security products and services offered from Ingram Micro that support the emerging trend of integrated security solutions. Mirroring the landscape of the physical security market, the Division has focused its efforts on four primary security solution categories including: 1) Alarm and Fire, 2) Monitoring Services, 3) Access Control and 4) Video Surveillance.

    As part of Ingram Micro's Physical Security Division, channel partners in the U.S. and Canada are able to access a wide variety of physical security products, as well as benefit from product and solutions training, world class technical support and specialized vendor channel programs. In addition, IT manufacturers who specialize in physical security solutions such as Axis Communications, Cisco, Sony and Panasonic are now able to leverage the new Division to expand their reach across a number of markets and acquire new customers, while fostering stronger relationships with channel partners who specialize in this field.

    "We've been watching the growing convergence of IT security and physical security and have established this Division in anticipation of their eventual synthesis," says Keith Bradley, President, Ingram Micro North America. "The launch of this security division is another example of our continuing efforts to expand our reach and bring value and focus to new and adjacent markets."

    Headquartered in Santa Ana, Calif., Ingram Micro's Physical Security Division supports all the top security brands and provides channel partners access to specialized technical advice, pre- and post-sales support, configuration and integration services, as well as training, education and marketing resources to help drive more business.

    "Our new Physical Security Division will bring more focus through dedicated resources to this growing market opportunity and provide our channel partners and manufacturers an easier way to engage with Ingram Micro across the board to proactively address the needs of their customers and grow their businesses," concludes Rich Donohue, Vice President of Strategic Development and Execution, Ingram Micro North America.

    For more information about Ingram Micro's Physical Security Division, channel partners and IT, manufacturers should contact their Ingram Micro sales representative.

    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 approximately 150 countries and is the only global broad-based IT distributor with operations in Asia. Visit http://www.ingrammicro.com/.

    Ingram Micro Inc.

    CONTACT: Marie Rourke of WhiteFox Marketing, +1-714-292-2199,
    marie@whitefoxpr.com

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




    CSC Introduces Family of Global Solutions to Latin American Financial Services Market

    LAS VEGAS, Nov. 3 /PRNewswire/ -- CSC strengthened its presence in Latin America by introducing to the market a wide spectrum of software and services for the financial services industry at the Inter-American Federation of Insurance Companies (FIDES) conference in Las Vegas this week. To address the needs of financial services firms throughout the region, CSC is enhancing its software, including core administration systems, to support the currency, language and unique country-specific regulations and business requirements. Firms will also benefit from CSC's client-centric approach to providing management consulting, systems integration and business process and IT outsourcing.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO )

    Leveraging its recent acquisition of BearingPoint Brazil, strategic in-country alliances and more than 1,000 CSC employees based in Latin America, CSC is offering these solutions to the general, life, health and group insurance; reinsurance; banking; and credit companies of the region. This includes local firms as well as multinational corporations with Latin American operations. More than 1,200 financial services clients throughout the world currently use CSC's portfolio of software and services to efficiently run their operations and improve customer service.

    "Latin America's financial services markets are among the fastest growing in the world, as companies seek IT solutions to improve their market positions," said Eric Prothero, a senior vice president of IDC. "It's no surprise that a global IT software and services company is building relationships and expanding its offerings in the region."

    Two-thirds of the world's top 50 insurers and one-third of the world's top 50 banks have chosen CSC solutions. CSC is in the process of building in-country service delivery centers or forming alliances with IT services firms for localized implementation and support in select Latin American countries. CSC employees are currently located in Argentina, Brazil, Chile, Colombia, Costa Rica, Guatemala, Mexico and Peru.

    "Our multi-year strategic growth plan for financial services is built on leveraging key horizontal capabilities, such as ERP software implementation support, systems conversions and infrastructure outsourcing, and adding vertical industry expertise to provide a comprehensive set of solutions," said Jim Cook, president of CSC's Business Solutions and Services Sector. "With this proven set of globally tested solutions and an expanding footprint, CSC brings new, enhanced options for insurance, reinsurance and banking in this dynamic and growing market."

    About CSC

    CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $16.2 billion for the 12 months ended July 3, 2009. For more information, visit the company's Web site at http://www.csc.com/.

    Photo: http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO
    http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com CSC

    CONTACT: Marian Kelley, Director, Media and Analyst Relations, Financial
    Services Group, +1-512-275-5722, mkelley3@csc.com; or Chris Grandis, Media
    Relations Director, Corporate, +1-703-641-2316, cgrandis@csc.com

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




    Harris Corporation Successfully Completes Qualification Testing of U.S. Navy Multiband SATCOM TerminalTerminals to Provide 10 Times the Bandwidth Currently Available Onboard Ships

    MELBOURNE, Fla., Nov. 3 /PRNewswire-FirstCall/ -- Harris Corporation has successfully completed system qualification testing of a satellite terminal that will provide U.S. Navy personnel onboard frigates, cruisers and destroyers with access to the Internet, video and other broadband services. Completion of the testing moves the Commercial Broadband Satellite Program (CBSP) Unit Level Variant (ULV) contract into the initial production phase.

    Under the contract, Harris will supply up to 55 advanced, 1.3-meter satellite communications terminals with X- and Ku-band capabilities. With 10 times the bandwidth currently accessible onboard Navy ships, the terminals will enable the Navy to augment military satellite communications by supporting essential mission requirements and providing high-speed Internet access and video communications to frigates and other Unit Level classified ships.

    Harris was awarded the five-year, potential $77 million, Indefinite Delivery/Indefinite Quantity (IDIQ) contract in 2008, and delivered the first terminal for qualification testing in just six months. The CBSP program is a Rapid Deployment Capability acquisition designed to reduce the time required to deliver critical/emerging warfighting capabilities.

    "Completion of qualification testing is a key milestone for this program, as these terminals will significantly enhance the Navy's ability to provide high-data-rate satellite communications to shipboard personnel throughout the world," said Wes Covell, president, Harris Defense Programs. "This represents a new Navy SATCOM capability that will provide the most advanced communications services available to deployed personnel."

    Harris Defense Programs develops, supplies, and integrates communications and information processing products, systems, and networks for a diverse base of aerospace, terrestrial and maritime applications supporting U.S. Department of Defense missions. Harris is committed to delivering leading-edge technologies that support the military's ongoing transformation to network-centric communications.

    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 approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at http://www.harris.com/.

    Forward-Looking Statements

    This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the expected value of the program to Harris are forward-looking and involve risks and uncertainties. Other factors that may impact the company's results and forward-looking statement may be disclosed in the company's filings with the SEC. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Harris Corporation

    CONTACT: Sleighton Meyer of Harris Government Communications Systems,
    sleighton.meyer@harris.com, +1-321-727-6514, or Jim Burke of Harris
    Corporation, jim.burke@harris.com, +1-321-727-9131, or Marc Raimondi of Harris
    Corporation - Washington, D.C., marc.raimondi@harris.com, +1-202-729-3732

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




    Parker Drilling Reports 2009 Third Quarter Earnings of $0.06 Per Share; Adjusted EPS of $0.04, Excluding Non-Routine Items

    HOUSTON, Nov. 3 /PRNewswire-FirstCall/ -- Parker Drilling , a global drilling contractor and service provider, today reported results for the quarter ended Sept. 30, 2009, including net income of $7.1 million or $0.06 per diluted share on revenues of $181.4 million, compared to net income of $17.8 million or $0.16 per diluted share on revenues of $227.5 million for the prior year's third quarter. Excluding the effect of non-routine items, the Company reported 2009 third quarter net income of $4.4 million or $0.04 per diluted share, compared to similarly adjusted 2008 third quarter net income of $21.6 million or $0.19 per diluted share.

    "The results of this past quarter reflect the harsh conditions that prevailed in many of our markets as well as the durability and resilience of the Company's strategy, business balance and geographic diversity," said executive chairman Robert L. Parker Jr. "Through cost management actions we were able to moderate the adverse effects on our operations' results while employing our business strategy to advance our competitive position and strengthen our business."

    Third Quarter Highlights: -- Revenues of $181.4 million were 20 percent below the prior year's third quarter revenues of $227.5 million. Increased revenues related to project management and construction contracts partially offset declines in worldwide drilling and tool rental revenues; -- Gross margin as a percent of revenues increased for International Drilling and Project Management and Engineering Services, compared with the prior year's third quarter. These improvements partially offset lower gross margin profitability from Parker's U.S. Barge Drilling and Rental Tools operations; -- The U.S. Barge Drilling segment recorded a positive gross margin for the third quarter, and improved its year-to-date gross margin to better-than-breakeven. This is a notable achievement in the industry, which has experienced a severe downturn in activity and declining dayrates; -- Parker successfully completed the sealift of the BP-owned "Liberty" rig to its operating site off Alaska's North Slope and has initiated rig-up and commissioning activities. During the quarter Parker was awarded the operations and maintenance contract for the rig's initial drilling program; -- The construction of the two Parker-owned arctic land rigs continues on schedule for a 2010 deployment to the North Slope to begin drilling on five-year contracts for BP; -- The Company achieved a better-than-industry average safety performance. Parker's September year-to-date Total Recordable Incident Rate (TRIR) of 0.55 surpassed the Company's 2008 industry-leading TRIR of 0.66.

    "Our recent results reflect the severe industry downturn of the past several quarters," said Mr. Parker. "The International Drilling, U.S. Gulf of Mexico Barge Drilling and Rental Tools segments experienced significant declines in revenues, compared to the prior year's third quarter. This was caused by lower utilization for the international rig fleet, lower utilization and lower dayrates for the barge drilling operation, and price discounts for rental tools. Meanwhile, Project Management & Engineering Services revenues grew due to the long-term nature of our customers' plans and programs; and Construction Contract revenues increased in line with progress on the Liberty rig. Each of these two operations achieved an increase in gross margin and gross margin as a percent of revenues.

    "Despite these difficult and challenging market conditions, our operations overall were profitable, including the contribution from our barge drilling business which recorded a 19 percent gross margin as a percent of revenues this past quarter and has achieved a positive gross margin year-to-date.

    "Business activity may have neared the bottom in the third quarter and there are tentative signs that improvement is underway," continued Mr. Parker. "Our U.S. Gulf of Mexico barge rig utilization rate increased sequentially in each of the last two quarters, rental tool placements have risen, the number of tenders for international drilling contracts has grown and project management opportunities have expanded. There are still areas of concern - dayrates remain under pressure, tool rental rates are heavily discounted, and contract commitments are slow to develop. Overall, though, the outlook is slowly improving. I believe these are times of opportunity, when Parker Drilling can make competitive and strategic gains based on the strength of our operations and business relationships," he concluded.

    Financial Review

    For the three months ended Sept. 30, 2009, Parker Drilling posted net income of $7.1 million, or $0.06 per diluted share, on revenues of $181.4 million, compared to net income of $17.8 million, or $0.16 per diluted share, on revenues of $227.5 million for the 2008 third quarter. Excluding the impact of non-routine items, adjusted net income for the 2009 third quarter was $4.4 million or $0.04 per diluted share, compared with 2008 third quarter adjusted net income of $21.6 million or $0.19 per diluted share. (The results for 2008 have been restated for the impact of the recently issued guidance related to accounting for convertible debt instruments). The results for the 2009 third quarter included non-routine net after-tax income of $2.7 million, or $0.02 per diluted share. This includes expenses related to previously disclosed investigations by the Department of Justice and the Securities and Exchange Commission regarding the Company's utilization of the services of a customs agent in certain countries and an internal investigation regarding U.S. economic sanctions related to the Company's operations in Turkmenistan and the write-off of a prepayment to an equipment supplier who went bankrupt. This was more than offset by income from the recovery of previously unutilized foreign tax credits. The results for the 2008 third quarter included non-routine net after-tax expense of $3.8 million, or $0.03 per diluted share, for non-routine items. (Details of the non-routine items are provided in the attached financial tables.)

    U.S. Barge Drilling revenues for the 2009 third quarter declined 72 percent, to $12.4 million from $44.7 million for the 2008 third quarter, due to lower utilization and reduced dayrates for the Gulf of Mexico barge drilling fleet. International Drilling revenues fell 31 percent, to $64.0 million from $92.2 million, the result of lower average fleet utilization. Rental Tools revenues decreased 48 percent, to $23.9 million from $46.0 million, primarily from the decline in U.S. land and Gulf of Mexico shelf drilling activity and the impact of increased discounts. The declines were partially offset by increased demand for workover equipment, growing coverage in the active shale regions and additional offshore deep drilling accounts. Revenues for Project Management and Engineering Services increased 7 percent, to $25.9 million from $24.1 million, reflecting the contribution from a FEED (Front End Engineering & Design) study for a drilling package on the Arkutun-Dagi platform offshore Sakhalin Island, Russia and pre-operational revenues related to the BP-owned Liberty rig. Construction Contract segment revenues of $55.3 million, represents the Company's progress on delivering, rigging-up and commissioning the Liberty rig.

    Adjusted EBITDA, after non-routine items, for the 2009 third quarter was $38.1 million compared to $76.0 million in the 2008 third quarter. (Adjusted EBITDA is a non-GAAP financial measure. The calculations of adjusted EBITDA and reconciliation to the most directly comparable GAAP measure are provided in the attached financial tables).

    International Drilling's gross margin decreased 23 percent to $22.0 million from the prior year's third quarter gross margin of $28.5 million. Gross margin as a percent of revenues was 34.4 percent in the 2009 third quarter compared to 31.0 percent in the prior year's third quarter. The increase in gross margin percent was primarily the result of lower operating costs throughout the segment.

    Project Management and Engineering Services' gross margin for the 2009 third quarter increased significantly to $6.4 million from $2.6 million for the prior year's third quarter. Gross margin as a percent of revenues was 24.9 percent for the 2009 third quarter compared to 11.0 percent in the prior year's third quarter. Much of this improvement was due to the contribution from the Arkutun-Dagi platform and Liberty rig projects and a lower level of reimbursables in the current quarter.

    U.S. Barge Drilling reported a gross margin of $2.3 million for the 2009 third quarter, the result of cost management actions and fleet deployment initiatives put in place to counter the low level of activity in the market. The third quarter performance is in line with the Company's objective to enhance its position as the leading and preferred contractor in the U.S. Gulf of Mexico barge drilling market and achieve a better-than-breakeven cash flow for this segment this year.

    The decline in gross margin for Rental Tools, to $11.7 million for the 2009 third quarter from $27.8 million for the prior year's third quarter, reflected a decline in overall demand due to reduced drilling activity in the U.S. land market and Gulf of Mexico shelf. This led to competitive discounting of rental rates that has impacted the segment's gross margin and gross margin as a percent of revenues.

    For the first nine months of 2009, Parker reported a 7 percent decline in revenues, to $577.1 million from $617.5 million for the same period in the prior year. Adjusted EBITDA, excluding non-routine items, declined 37 percent, to $132.3 million from $210.0 million for the comparable period. Earnings per diluted share, excluding non-routine items, was $0.15, down from $0.56 for the same period of 2008.

    Operations Review -- Average utilization of international rigs, both land and barge rigs, for the 2009 third quarter was 61 percent, compared to 84 percent for the prior year's third quarter and 68 percent for the 2009 second quarter. (Average utilization for each international region's rig fleet by quarter is available in the "Rig Utilization Schedule" posted on Parker's website under "Investor Relations" at "Quarterly Support Materials".) -- The Company's Americas region operated at 75 percent average utilization, with eight of ten rigs having worked during the period, including one rig that began work in September on a multi-well contract. Seven of the ten rigs in this region have commitments to work into 2010. -- Parker's twelve rigs located in the Commonwealth of Independent States / Africa Middle East (CIS / AME) region achieved average utilization of 69 percent, with nine rigs having worked during the period. Seven of the twelve rigs in the CIS / AME region are operating under contracts that extend beyond 2009. -- The eight-rig Parker fleet located in the Asia Pacific region operated at 40 percent average utilization, with four of the eight rigs having worked during the period. One rig began work in August under a new term contract. While most contracts in this region are for short duration projects, three rigs are committed to programs that extend into 2010. -- Average utilization for the Company's Gulf of Mexico barge rigs for the 2009 third quarter was 33 percent, compared to 79 percent for the prior year's third quarter and 30 percent for the 2009 second quarter. Currently, barge rig utilization is 60 percent. The Company's barge dayrates in the Gulf of Mexico averaged $26,200 during the 2009 third quarter, compared to $39,900 per day in the 2008 third quarter and $29,800 per day in the 2009 second quarter. (Average dayrates for each classification of barge by quarter are available in the "Dayrates - GOM" schedule posted on Parker's website under "Investor Relations" at "Quarterly Support Materials".) -- Rental tool revenues slowed in all the established regions, partially offset by business from our new operation in Pennsylvania, serving the Marcellus shale play. The greatest declines occurred in the regions serving primarily conventional oil or gas drilling operators while the downturn was less severe in the regions with major gas or oil shale plays, such as the Haynesville, Barnett, Fayetteville and Bakken shale areas. -- In Project Management and Engineering Services, rig-up and commissioning of the BP-owned Liberty rig in Alaska was underway following the rig's successful delivery to the satellite drilling island off the North Slope of Alaska. In addition, we continued work on the FEED study for the Arkutun-Dagi platform's drilling package.

    Capital expenditures for the three months ended Sept. 30, 2009 totaled $32.9 million, including $9.1 million for the construction of Parker's two newbuild arctic land rigs for Alaska, and $5.4 million for tubular goods and other rental equipment.

    At the end of the period total debt was $425.7 million and the Company's total debt-to-capitalization ratio was 41.5 percent. Adjusted for the Company's cash and cash equivalents balance of $94.4 million, Parker's ratio of net-debt-to-net capitalization was 35.6 percent, compared to 31.6 percent at the end of 2008. The Company's $50 million term loan began to amortize on Sept. 30, 2009 at $3.0 million per quarter. The remaining components of the Company's debt do not mature until 2012 and 2013.

    Conference Call

    Parker Drilling has scheduled a conference call at 10:00 a.m. CST (11:00 a.m. EST) on Tuesday, November 3, 2009 to discuss 2009 third quarter results. Those interested in listening to the call by telephone may do so by dialing (480) 629-9722. Alternatively, the call can be accessed through the Investor Relations section of the Company's Web site at http://www.parkerdrilling.com/. A replay of the call will be available by telephone from November 3 through November 11 by dialing (303) 590-3030 and using the access code 4171242#, and for 12 months on the Company's Web site.

    This release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of the Securities Acts. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including earnings per share guidance, the outlook for rig utilization and dayrates, general industry conditions including demand for drilling and customer spending and the factors affecting demand, competitive advantages including cost effective integrated solutions and technological innovation, future technological innovation, future operating results of the Company's rigs and rental tool operations, capital expenditures, expansion and growth opportunities, asset sales, successful negotiation and execution of contracts, strengthening of financial position, increase in market share and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this release are based on reasonable assumptions, actual results may differ materially from those expressed or implied in the forward-looking statements due to certain risk factors, including the ongoing credit crisis which has created volatility in oil and natural gas prices and could result in reduced demand for drilling services. For a detailed discussion of risk factors that could cause actual results to differ materially from the Company's expectations, please refer to the Company's reports filed with the SEC, and in particular, the report on Form 10-K for the year ended December 31, 2008. Each forward-looking statement speaks only as of the date of this release, and the Company undertakes no obligation to publicly update or revise any forward-looking statement.

    PARKER DRILLING COMPANY AND SUBSIDIARIES Consolidated Condensed Balance Sheets September 30, 2009 December 31, 2008 ------------------ ----------------- (Unaudited) ASSETS (Dollars in Thousands) CURRENT ASSETS Cash and Cash Equivalents $94,431 $172,298 Accounts and Notes Receivable, Net 196,039 186,164 Rig Materials and Supplies 28,901 30,241 Deferred Costs 6,989 7,804 Deferred Income Taxes 9,735 9,735 Other Current Assets 76,669 67,049 ------ ------ TOTAL CURRENT ASSETS 412,764 473,291 ------- ------- PROPERTY, PLANT AND EQUIPMENT, NET 702,820 675,548 OTHER ASSETS Deferred Income Taxes 38,458 22,956 Other Assets 36,375 33,925 ------ ------ TOTAL OTHER ASSETS 74,833 56,881 ------ ------ TOTAL ASSETS $1,190,417 $1,205,720 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Current Portion of Long-Term Debt $12,000 $6,000 Accounts Payable and Accrued Liabilities 137,483 152,528 ------- ------- TOTAL CURRENT LIABILITIES 149,483 158,528 ------- ------- LONG-TERM DEBT 413,692 435,394 LONG-TERM DEFERRED TAX LIABILITY 8,178 8,230 OTHER LONG-TERM LIABILITIES 19,719 21,396 STOCKHOLDERS' EQUITY 599,345 582,172 ---------- ---------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $1,190,417 $1,205,720 ========== ========== Current Ratio 2.76 2.99 Total Debt as a Percent of Capitalization 42% 43% Book Value Per Common Share $5.16 $5.13 PARKER DRILLING COMPANY AND SUBSIDIARIES Consolidated Condensed Statements of Operations (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------------- ----------------- 2009 2008 2009 2008 ---- ---- ---- ---- (Dollars in Thousands) (Dollars in Thousands) REVENUES: International Drilling $63,966 $92,226 $220,626 $238,885 U.S. Drilling 12,350 44,743 35,095 139,999 Project Management and Engineering Services 25,869 24,089 81,814 72,219 Construction Contract 55,325 20,421 149,642 40,501 Rental Tools 23,899 45,975 89,948 125,858 ------ ------ ------ ------- TOTAL REVENUES 181,409 227,454 577,125 617,462 ------- ------- ------- ------- OPERATING EXPENSES: International Drilling 41,964 63,682 140,628 172,915 U.S. Drilling 10,057 21,850 34,821 65,502 Project Management and Engineering Services 19,420 21,451 63,597 61,819 Construction Contract 52,203 19,323 142,117 38,373 Rental Tools 12,232 18,166 41,438 50,014 Depreciation and Amortization 29,307 30,663 85,382 84,995 ------ ------ ------ ------ TOTAL OPERATING EXPENSES 165,183 175,135 507,983 473,618 ------- ------- ------- ------- TOTAL OPERATING GROSS MARGIN 16,226 52,319 69,142 143,844 ------ ------ ------ ------- General and Administrative Expense (9,812) (9,271) (33,998) (24,420) Provision for Reduction in Carrying Value of Certain Assets (2,757) - (2,757) - Gain on Disposition of Assets, Net 1,225 799 2,007 2,014 ----- --- ----- ----- TOTAL OPERATING INCOME 4,882 43,847 34,394 121,438 ----- ------ ------ ------- OTHER INCOME AND (EXPENSE): Interest Expense (7,093) (7,026) (22,663) (20,908) Interest Income 435 383 895 1,121 Equity in Loss of Unconsolidated Joint Venture and Related Charges, net of tax - - - (1,105) Other Income (Expense) (285) 299 (365) 503 ---- --- ---- --- TOTAL OTHER INCOME AND (EXPENSE) (6,943) (6,344) (22,133) (20,389) ------ ------ ------- ------- INCOME (LOSS) BEFORE INCOME TAXES (2,061) 37,503 12,261 101,049 ------ ------ ------ ------- INCOME TAX EXPENSE (BENEFIT) Current 1,325 14,179 14,224 13,024 Deferred (10,480) 5,494 (15,554) 25,096 ------- ----- ------- ------ TOTAL INCOME TAX EXPENSE (BENEFIT) (9,155) 19,673 (1,330) 38,120 ------ ------ ------ ------ NET INCOME $7,094 $17,830 $13,591 $62,929 ====== ======= ======= ======= EARNINGS PER SHARE - BASIC $0.06 $0.16 $0.12 $0.57 - DILUTED $0.06 $0.16 $0.12 $0.56 NUMBER OF COMMON SHARES USED IN COMPUTING EARNINGS PER SHARE Basic 113,263,123 111,756,322 112,905,172 111,243,745 Diluted 115,237,348 112,647,450 114,604,108 112,324,566 PARKER DRILLING COMPANY AND SUBSIDIARIES Selected Financial Data (Unaudited) Three Months Ended -------------------------------- September 30, June 30, -------------- -------- 2009 2008 2009 ---- ---- ---- (Dollars in Thousands) REVENUES: International Drilling $63,966 $92,226 $79,279 U.S. Drilling 12,350 44,743 12,889 Project Management and Engineering Services 25,869 24,089 23,891 Construction Contract 55,325 20,421 77,572 Rental Tools 23,899 45,975 28,160 ------ ------ ------ Total Revenues 181,409 227,454 221,791 ------- ------- ------- OPERATING EXPENSES: International Drilling 41,964 63,682 48,887 U.S. Drilling 10,057 21,850 11,628 Project Management and Engineering Services 19,420 21,451 18,283 Construction Contract 52,203 19,323 74,000 Rental Tools 12,232 18,166 12,752 ------ ------ ------ Total Operating Expenses 135,876 144,472 165,550 ------- ------- ------- OPERATING GROSS MARGIN: International Drilling 22,002 28,544 30,392 U.S. Drilling 2,293 22,893 1,261 Project Management and Engineering Services 6,449 2,638 5,608 Construction Contract 3,122 1,098 3,572 Rental Tools 11,667 27,809 15,408 Depreciation and Amortization (29,307) (30,663) (28,951) ------- ------- ------- Total Operating Gross Margin 16,226 52,319 27,290 General and Administrative Expense (9,812) (9,271) (11,126) Provision for Reduction in Carrying Value of Certain Assets (2,757) - - Gain on Disposition of Assets, Net 1,225 799 704 ------ ------- ------- TOTAL OPERATING INCOME $4,882 $43,847 $16,868 ====== ======= ======= Marketable Rig Count Summary As of September 30, 2009 Total ----- U.S. Gulf of Mexico Barge Rigs Workover 2 Intermediate 3 Deep 10 --- Total U.S. Gulf of Mexico Barge Rigs 15 International Land and Barge Rigs Asia Pacific 8 Americas 10 CIS/AME 12 Other 1 --- Total International Land and Barge Rigs 31 --- Total Marketable Rigs 46 === Adjusted EBITDA (Unaudited) (Dollars in Thousands) Three Months Ended ------------------------------------------------------------- September 30, June 30, March 31, December 31, September 30, 2009 2009 2009 2008 2008 ------------ ---------- --------- ------------ ------------- Previously Reported Net Income (Loss) $7,094 $4,391 $2,106 $(39,477) $18,551 Restated Interest Expense, Net of Tax - Per APB 14-1 - - - (724) (721) --- --- --- ---- ---- Restated Net Income (Loss) 7,094 4,391 2,106 (40,201) 17,830 Adjustments: Income Tax (Benefit) Expense (9,155) 5,079 2,746 (31,178) 19,673 Total Other Income and Expense 6,943 7,398 7,792 9,121 6,344 Loss/(Gain) on Disposition of Assets, Net (1,225) (704) (78) (683) (799) Impairment of Goodwill - - - 100,315 Depreciation and Amortization 29,307 28,951 27,124 31,961 30,663 Provision for Reduction in Carrying Value of Certain Assets 2,757 - - - - ----- --- --- --- --- Adjusted EBITDA $35,721 $45,115 $39,690 $69,335 $73,711 ======= ======= ======= ======= ======= Adjustments: Non-routine Items 2,402 4,048 5,308 6,279 2,264 ----- ----- ----- ----- ----- Adjusted EBITDA after Net Non-routine Items $38,123 $49,163 $44,998 $75,614 $75,975 ======= ======= ======= ======= ======= Three Months Ended ----------------------------------------------------- June 30, March 31, December 31, September 30, 2008 2008 2007 2007 --------- ---------- ------------- -------------- Previously Reported Net Income (Loss) $22,596 $23,888 $34,571 $22,653 Restated Interest Expense, Net of Tax - Per APB 14-1 (699) (686) (670) (562) ---- ---- ---- ---- Restated Net Income (Loss) 21,897 23,202 33,901 22,091 Adjustments: Income Tax (Benefit) Expense 13,762 4,685 (21,830) 18,803 Total Other Income and Expense 6,531 7,514 31,385 9,706 Loss/(Gain) on Disposition of Assets, Net (636) (579) 784 (543) Impairment of Goodwill Depreciation and Amortization 28,166 26,166 25,059 23,043 Provision for Reduction in Carrying Value of Certain Assets - - 371 1,091 --- --- --- ----- Adjusted EBITDA $69,720 $60,988 $69,670 $74,191 ======= ======= ======= ======= Adjustments: Non- routine Items 2,885 441 - - ----- --- --- --- Adjusted EBITDA after Net Non-routine Items $72,605 $61,429 $69,670 $74,191 ======= ======= ======= ======= PARKER DRILLING COMPANY AND SUBSIDIARIES Reconciliation of Non-Routine Items * (Unaudited) (Dollars in Thousands, except Per Share) Three Months Ending Nine Months Ending September 30, September 30, 2009 2009 ------------------- ------------------ Net income $7,094 $13,591 Earnings per diluted share $0.06 $0.12 Adjustments: Provision for reduction in carrying value $2,757 $2,757 DOJ investigation 2,402 11,758 ----- ------ Total adjustments $5,159 $14,515 Tax effect of pre-tax non- routine adjustments (1,806) (5,080) Income tax provision adjustment (6,053) (6,053) ------ ------ Net non-routine adjustments $(2,700) $3,382 ------- ------ Adjusted net income $4,394 $16,973 ====== ======= Adjusted earnings per diluted share $0.04 $0.15 ===== ===== Three Months Ending Nine Months Ending September 30, September 30, 2008 2008 ------------------- ------------------ Previously reported net income $18,551 $65,035 Previously reported earnings per diluted share $0.16 $0.58 Restated interest expense, net of tax - per APB 14-1 $(721) $(2,106) Restated net income $17,830 $62,929 Restated earnings per share $0.16 $0.56 Adjustments: Saudi Arabia $- $1,105 FIN 48 tax benefit - Kazakhstan - (10,560) PNG tax - 4,127 Other FIN 48 adjustments 2,407 2,407 DOJ investigation 2,264 5,590 ----- ----- Total adjustments $4,671 $2,669 Tax effect of non-routine adjustments (899) (2,219) ---- ------ Net non-routine adjustments $3,772 $450 ------ ---- Adjusted net income $21,602 $63,379 ======= ======= Adjusted earnings per diluted share $0.19 $0.56 ===== ===== * Adjusted net income, a non-GAAP financial measure, excludes items that management believes are of a non-routine nature and which detract from an understanding of normal operating performance and comparisons with other periods. Management also believes that results excluding these items are more comparable to estimates provided by securities analysts and used by them in evaluating the Company's performance.

    Photo: http://www.newscom.com/cgi-bin/prnh/20050620/PARKERDRILLINGLOGO
    http://photoarchive.ap.org/
    PRN Photo Desk, photodesk@prnewswire.com Parker Drilling Company

    CONTACT: Media, Rose Maltby, +1-281-406-2212, or Investors, Richard
    Bajenski, +1-281-406-2030, both of Parker Drilling

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




    Biostar Pharmaceuticals, Inc. Significantly Increases Rural Supply Network to 3,500 Sales Outlets

    XIANYANG, China, Nov. 3 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (BULLETIN BOARD: BSPM) ("Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced that it has expanded its rural supply network to 3,512 sales outlets as of September 30, 2009. These locations have contributed approximately $7.4 million in revenues year-to-date. The company anticipates meeting its goal of launching 5,000 rural sales outlets by the end of 2009 and plans to expand the network to include 10,000 outlets by 2011 throughout 6 provinces including Shaanxi, Gansu, Henan, Hebei, Liaoning, and Shandong.

    A sales outlet is a small pharmacy with an average of 600 square feet in a rural village, which supplies residents with the most commonly used drugs. Biostar provides free training to the staff of the sales outlets and currently supplies 5 drugs to each location, including Danshen Granules, a drug which addresses coronary heart disease, myocardditis and angina pectoris and is listed in the Essential Drug List. Average annual revenue generated from each sales outlet is approximately $2,000. The Company's goal is to build the largest regional pharmaceutical supply network in its targeted rural areas and provide patients with the most efficient and affordable comprehensive pharmaceutical services.

    "We are pleased to announce the progress we have made with our rural supply network which we expect to contribute more than $10 million in revenues during 2010. We will continue to invest in this expansion plan, which is one of the key components of Biostar's long-term growth strategies. In addition to medicines, we will also supply nutraceutical products from our portfolio through the rural supply network to drive incremental revenues. With the government's support to improve healthcare systems for rural areas, in addition to the increase in disposable income and health awareness of rural population, the sales of our products through this channel is expected to grow rapidly in the coming years," said Mr. Wang Ronghua, Chairman and CEO of Biostar Pharmaceuticals, Inc.

    About Biostar Pharmaceuticals, Inc.

    Biostar Pharmaceuticals, Inc., through its wholly owned subsidiary in China, develops, manufactures and markets pharmaceutical and medical nutrient products for a variety of diseases and conditions. The Company's most popular product is its Xin Ao Xing Oleanolic Acid Capsule, an over-the-counter ("OTC") medicine for chronic hepatitis B, a disease affecting approximately 10% of the Chinese population. In addition to its hepatitis product, Biostar manufactures two broad-based OTC products, two prescription-based pharmaceuticals and ten nutrients. The Company has adopted international standards and is in the process of applying for two patents.

    Safe Harbor

    Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our S-1 dated June 27, 2008, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2009, our 10-K for the year ended December 31, 2008, and other recent filings. These filings are available at http://www.sec.gov/ . We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.

    For further information, contact: Ms. Elaine Zhao, CFO Tel: +1-626-456-2789 Email: elaine@biostarpharmaceuticals.com John Mattio HC International, Inc. Tel: US +1-914-669-5340 Email: john.mattio@hcinternational.net Web: http://www.hcinternational.net/

    Biostar Pharmaceuticals, Inc.

    CONTACT: Elaine Zhao, CFO of Biostar Pharmaceuticals, Inc.,
    +1-626-456-2789, elaine@biostarpharmaceuticals.com; or John Mattio of HC
    International, Inc., +1-914-669-5340 (US), john.mattio@hcinternational.net

    Web site: http://www.hcinternational.net/




    China TransInfo Announces Conference Call to Discuss Third Quarter 2009 Results

    BEIJING, Nov. 3 /PRNewswire-Asia-FirstCall/ -- China TransInfo Technology Corp., , ("China TransInfo" or "the Company"), a leading provider of public transportation information systems technology and comprehensive solutions in the People's Republic of China ("PRC"), today announced the Company will host a conference call on Thursday, November 12, 2009 at 8:00 AM Eastern Standard Time to discuss its financial results for the third quarter of 2009.

    To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (888) 339-2688. International callers should dial (617) 847-3007. When prompted by the operator, enter conference pass code 809 092 57.

    A replay will be available for 14 days starting on Thursday, November 12 at 10:00 a.m. Eastern Standard Time and can be accessed by dialing (888) 286-8010. International callers should dial (617) 801-6888. When prompted, please enter conference pass code 226 532 06.

    About China TransInfo

    China TransInfo, through its affiliate, China TransInfo Technology Group Co., Ltd., (the "Group Company") and the Group Company's PRC operating subsidiaries, is primarily focused on providing transportation information services and comprehensive solutions based on GIS technologies. The Company aims to become the largest transportation information products and comprehensive solutions provider, as well as the largest real time transportation information platform operator and provider in China. In addition, the Company is developing its transportation system to include Electronic Toll Collection (ETC) technology. As the co-formulator of several transportation technology national standards, the Company owns software copyrights for 88 software products and has won 5 of the 10 model cases sponsored by the PRC Ministry of Communications. The Company's affiliation with Peking University provides the Company access to the University's GeoGIS Research Laboratory, including 30 Ph.D. researchers. As a result, the Company is playing a key role in setting the standards for electronic transportation information solutions. For more information, please visit the Company's website at http://www.chinatransinfo.com/ .

    Safe Harbor Statement

    This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov/ ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

    China TransInfo Technology Corp.

    CONTACT: Ms. Fan Zhou, Investor Relations Director, China TransInfo
    Technology Corp., +86-10-8267-1299 x8033, ir@ctfo.com; Investors, Mr. Crocker
    Coulson, President, +1-646-213-1915 (NY office), crocker.coulson@ccgir.com

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




    Winner Medical Group Inc. Retains Hayden Communications as Corporate Communications Advisor

    SHENZHEN, China, Nov. 3 /PRNewswire-Asia/ -- Winner Medical Group Inc. (Amex: WWIN; "Winner Medical", or the "Company"), a leading manufacturer and exporter of medical, wound care and home care products in China, today announced that on October 28, 2009, it retained HC International, Inc. ("HCI") as its strategic investor relations advisor to assist Winner Medical in broadening its presence in the financial markets while helping investors gain a better understanding of Winner Medical's core business and financial attributes. Matthew Hayden, and the HCI team, will be advising the Company in all facets of public financial communications.

    "The team at Hayden Communications, Inc. is well-respected and has a proven track record of representing successful China-based, U.S.-listed companies. Through our efforts to increase and improve communications with our investor base, we have selected HC International to provide us with strategic investor relations services," said Jianquan Li, Chief Executive Officer of Winner Medical. "We are confident that HCI will help us more proactively communicate our business model, growth strategy and competitive advantages in the investment community and convey our value proposition and business strategy to a wider audience, while providing a greater level of corporate transparency to investors and the public."

    "We are impressed with Winner Medical's business model and achievements to date, including the successful launch of its patented, high growth PurCotton product line. The Company has built an established base of recognized marquee customers around the world by selling a broad range of extremely high quality products. Winner is beginning to meaningfully expand its market share in China, which is experiencing significant growth in several of the Company's key markets," said Matthew Hayden, President of Hayden Communications, Inc. "We look forward to developing a comprehensive investor communications and marketing strategy to further expand Winner Medical's investor audience in each segment of the financial community."

    HC International, Inc. is a premier China information resource for institutional investors, hedge funds, independent portfolio managers, buy and sell-side analysts, small to large retail brokerage firms and accredited individual investors. HC International will leverage its recognized investment community relationships to help capitalize on Winner Medical's key business attributes, while helping management to articulate its future growth opportunities. Additionally, the firm will extend Winner Medical's investor awareness programs, shareholder communications and coordinate introductions to key industry and sell-side analysts as part of a comprehensive IR program.

    About Winner Medical

    Winner Medical is a leading manufacturer and the largest exporter by volume in the medical dressing industry in China. Headquartered in Shenzhen, the Company has seven wholly-owned operating subsidiaries and four joint-ventures with over 5,000 employees. The Company engages in the manufacturing, sale, research, and development of medical care products, wound care products, home care products and PurCotton products, a nonwoven fabric made from 100% natural cotton. The products are sold worldwide, with Europe, the United States and Japan serving as the top three markets. The Company currently holds more than sixty patents and patent applications for various products and manufacturing processes and is one of the few Chinese companies licensed by the U.S. Food and Drug Administration (FDA) to ship finished, sterilized products directly to the United States market. To learn more about Winner Medical, please visit Winner Medical's web site at http://www.winnermedical.com/ .

    About HC International, Inc.

    HC International is a focused and dedicated organization that acts as a premier information resource for institutional investors, hedge funds, buy and sell-side analysts, small to large brokerage firms and accredited investors. HC International helps their clients companies communicate their corporate information in a clear, concise and consistent manner while facilitating introductions to the right investor at the opportune time. HC International maintains offices in the U.S. and China. For further information, please contact HC International directly, or visit its Web site at http://www.hcinternational.net/ .

    Forward-Looking Statements

    This press release contains certain statements that may include "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. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding Winner Medical and its subsidiary companies' business strategy, plans and objective and statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although Winner Medical believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Winner Medical's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Winner Medical's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to Winner Medical or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Winner Medical does not assume a duty to update these forward-looking statements.

    For more information, please contact: Company: Peng Zhai Investor Relations Manager Winner Medical Group Inc. Tel: +86-755-2806-6858 Email: investors@winnermedical.com Investors: Mr. Matthew Hayden, HC International Tel: +1-561-245-5155 Email: matt.hayden@hcinternational.net Web: http://www.hcinternational.net/

    Winner Medical Group Inc.

    CONTACT: Peng Zhai, Investor Relations Manager of Winner Medical Group
    Inc., +86-755-2806-6858, investors@winnermedical.com; Investors, Matthew
    Hayden, HC International, +1-561-245-5155, matt.hayden@hcinternational.net

    Web site: http://www.hcinternational.net/
    http://www.winnermedical.com/




    R.G. Barry/Dearfoams Reports Strong 1st Quarter PerformanceAccessory Footwear Marketer's Quarterly Earnings Jump 105%

    PICKERINGTON, Ohio, Nov. 3 /PRNewswire-FirstCall/ -- R.G. Barry Corporation , today said that its operating results for the first quarter of fiscal 2010 reflect increased retailer demand for the Company's accessory footwear products and its return to a more traditional pattern of quarterly operating performance as compared to the first quarters of fiscal years 2008 and 2009.

    For the quarter ended September 26, 2009, the Company reported: -- A 105 percent net earnings increase to $2.3 million, or $0.21 per basic and diluted share, from $1.1 million, or $0.10 per basic share and diluted share, in the first quarter of fiscal 2009; -- Net sales rose 14.9 percent to $29.4 million as a result of a return to a more normalized shipping pattern following two years of uncharacteristic shifts in the timing of first quarter shipments to some retailers; and -- Gross profit as a percent of sales of 41.7 percent, up from 39.6 percent reported in the first quarter of fiscal 2009.

    The balance sheet continued to reflect the results of the Company's overall performance:

    -- Cash, cash equivalents and short-term investments were at $18.8 million up from $9.6 million one year ago; -- Inventory of $23.7 million was down approximately 7.0 percent from $25.5 million at the end of the first quarter of fiscal 2009; and -- Net shareholders' equity rose to $48.2 million from $47.2 million in the comparable period last year. Management Comments

    "As today's results indicate, our performance thus far in fiscal 2010 has exceeded our most optimistic expectations," said Greg Tunney, President and Chief Executive Officer. "Early sell-through at retail has been very healthy, and we have not seen the order delays and cancellations so common to many retail sectors at this time of the year. Our model continues performing well despite the challenging retail landscape and uneven macro-economic environment.

    "Looking forward, we are excited about the upcoming holiday season and our anticipated performance for fiscal 2010. We are working closely with retailers to manage in-store inventory to ensure they have the appropriate mix of products to maximize their holiday sell-through over the next eight weeks. As the most productive period of our fiscal year, retail performance during the Christmas season remains critical to the Company's annual success," he said.

    Jose Ibarra, Senior Vice President Finance and Chief Financial Officer, added, "Our strong first quarter profitability reflects our recovery from the contraction in the gross profit percentage that we experienced last year. The contraction resulted from higher product costs driven by increased oil prices and a lack of supplier capacity in China during our fiscal 2009 buying cycle. The reversal of these inflationary trends together with our continuing focus on cost management in our operating model, should allow us to operate at an annual gross profit rate of around 40 percent through this fiscal year and for the foreseeable future. Since the profitability of our year is primarily dependent on how well our products sell-through at retail during the Christmas selling season, we find today's encouraging results to be an early indication of the upcoming holiday season's potential for our business."

    Looking Ahead

    Mr. Tunney continued, "We indicated last quarter that we were planning fiscal 2010 revenue relatively flat due to the uncertainty still swirling about the economy and some segments of retail. Based upon open orders, our performance at retail thus far and our expectation that our products will continue to sell-through at or above last year's levels, we now expect to report modest annual revenue growth for our full fiscal year."

    Conference Call/Webcast Today

    R.G. Barry Corporation senior management will conduct a conference call for all interested parties at 11 a.m. Eastern time today. Management will discuss the Company's performance, its plans for the future and will accept questions from participants. The conference call is available at (800) 860-2442 in the U.S., (866) 605-3852 in Canada and +1 (412) 858-4600 internationally until five minutes before starting time. To listen via the Internet, simply log on at http://www.videonewswire.com/event.asp?id=63082.

    Replays of the call will be available several hours after its completion. The audio replay can be accessed through Tuesday, Nov. 10, 2009, by calling (800) 642-1687 or (706) 645-9291 and using passcode 71174783. A written transcript and audio replay of the call will be posted for at least 12 months at http://www.rgbarry.com/ under the "Investor Room" tab.

    About R.G. Barry Corporation

    R.G. Barry Corporation, the Dearfoams® company, is one of the world's leading developers and marketers of accessory footwear. Visit us online at http://www.rgbarry.com/ to learn more about our business.

    Forward-Looking Statements

    Some of the disclosures in this news release contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by forward-looking words such as "may," "will," "expect," "could," "should," "anticipate," "believe," "estimate," or words with similar meanings. Any statements that refer to projections of our future performance, anticipated trends in our business and other characterizations of future events or circumstances are forward-looking statements. These statements, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, are based upon our current plans and strategies and reflect our current assessment of the risks and uncertainties related to our business. These risks could include, but are not limited to, things such as: our continuing ability to source products from third parties located outside North America; competitive cost pressures; the loss of retailer customers to competitors, consolidations, bankruptcies or liquidations; shifts in consumer preferences; the impact of the highly seasonal nature of our business upon our operations, including customer sell-through during the fall 2009 holiday season; inaccurate forecasting of consumer demand; difficulties liquidating excess inventory; disruption of our supply chain or distribution networks; and our investment of excess cash in certificates of deposit and other non-auction rate marketable securities. You should read this news release carefully, because the forward-looking statements contained in it (1) discuss our future expectations; (2) contain projections of our future results of operations or of our future financial condition; or (3) state other "forward-looking" information. The risk factors described in this news release, Quarterly Report on Form 10-Q and in our other filings with the Securities and Exchange Commission, in particular "Item 1A. Risk Factors" of Part I of our Annual Report on Form 10-K for the fiscal year ended June 27, 2009 (the "2009 Form 10-K"), give examples of the types of uncertainties that may cause actual performance to differ materially from the expectations we describe in our forward-looking statements. If the events described in "Item 1A. Risk Factors" of Part I of our 2009 Form 10-K occur, they could have a material adverse effect on our business, operating results and financial condition. You should also know that it is impossible to predict or identify all risks and uncertainties related to our business. Consequently, no one should consider any such list to be a complete set of all potential risks and uncertainties. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statement to reflect circumstances or events that occur after the date on which the statement is made to reflect unanticipated events. Any further disclosures in our filings with the Securities and Exchange Commission should also be considered.

    R.G. BARRY CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands of dollars, except for per share data) Thirteen Weeks Ended (unaudited) (unaudited) Sept. 26, Sept. 27, % Increase 2009 2008 Decrease ---- ---- -------- Net sales $29,449 $25,630 14.9% Cost of Sales 17,158 15,470 10.9% ------ ------ Gross profit 12,291 10,160 21.0% Gross profit (as percent of sales) 41.7% 39.6% Selling, general and administrative expense 8,809 8,588 2.6% ----- ----- Operating profit 3,482 1,572 121.5% Interest income, net 148 145 2.1% --- --- Income before income tax 3,630 1,717 111.4% Income tax expense 1,365 612 123.0% ----- ----- Net earnings 2,265 1,105 105.0% ===== ===== Earnings per common share Basic $0.21 $0.10 ===== ===== Diluted $0.21 $0.10 ===== ===== Average number of common shares outstanding Basic 10,803 10,595 ====== ====== Diluted 10,948 10,749 ====== ====== CONDENSED CONSOLIDATED BALANCE SHEET (in thousands of dollars) (unaudited) (unaudited) (audited) Sept. 26, Sept. 27, June 27, 2009 2008 2009 ---- ---- ---- ASSETS Cash & short term investments $18,791 $9,572 $39,236 Accounts Receivable, net 24,499 21,693 9,503 Inventory 23,692 25,505 8,499 Prepaid expenses and other current assets 2,643 5,631 3,344 ----- ----- ----- Total current assets 69,625 62,401 60,582 Net property, plant and equipment 3,686 3,747 3,743 Other assets 10,825 9,105 10,758 ------ ----- ------ Total Assets $84,136 $75,253 $75,083 ======= ======= ======= LIABILITIES & SHAREHOLDERS' EQUITY Short-term notes payable 1,840 2,284 1,840 Accounts payable 11,992 12,141 3,887 Other current liabilities 2,405 1,830 3,979 ----- ----- ----- Total current liabilities 16,237 16,255 9,706 Long-term debt 75 167 97 Accrued retirement costs and other 19,609 11,606 19,372 Shareholders' equity, net 48,215 47,225 45,908 ------ ------ ------ Total liabilities & shareholders' equity $84,136 $75,253 $75,083 ======= ======= =======

    R.G. Barry Corporation

    CONTACT: Roy Youst, Director Investor & Corp. Communications,
    +1-614-729-7275, or Jose G. Ibarra, Senior Vice President Finance-CFO,
    +1-614-729-7270

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




    Bank of America Introduces Clarity Commitment(TM) for Home Equity ProductsSimple One-Page Summary of Key Loan Terms Allows Borrowers to Review Their Loan Details in Plain Language

    CALABASAS, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Bank of America announced today that its popular Clarity Commitment(TM) home loan summary - a consumer-friendly document hailed as a lending industry model - is now available for home equity lines of credit and home equity loans.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b )

    The Clarity Commitment is a tangible demonstration of the Bank of America Home Loans brand promise to lend responsibly and help customers become successful homeowners. A simple one-page summary of key loan terms, this document lets borrowers review their loan details in plain language so they are confident they have chosen a loan that is right for them.

    "We are pleased to introduce the Clarity Commitment to our home equity customers," said Henry Fulton, Home Equity and Reverse Mortgage executive for Bank of America Home Loans. "We take our commitment to responsible lending very seriously. The Home Equity Clarity Commitment helps us provide our customers with the simplicity and transparency they desire and deserve."

    The bank introduced the Clarity Commitment last April for refinance and purchase first mortgage loans. It has since been expanded to a portion of modified first mortgage loans; closed-end, fixed-rate, full-draw reverse mortgages; and now for home equity loans and lines of credit as of Oct. 25. Since its inception last spring, more than 730,000 first mortgage Bank of America customers have received Clarity Commitments with their loan documents.

    The Home Equity Clarity Commitment is provided on all standalone home equity lines of credit and home equity loans with terms greater than 36 months. It is available in all Bank of America sales channels and is provided to the customer at the point of sale; as a re-disclosure in the event of a loan product change; and with closing packages. (Note: Applications originated through bankofamerica.com will receive the Clarity Commitment in the closing package only.)

    When first introduced to the public in April, Bank of America's Clarity Commitment was held up as a model for the lending industry by industry associations and national media. Similar Clarity Commitments for card and deposits products are scheduled to be released in December 2009 and the first half of 2010, respectively.

    Bank of America

    Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 53 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award-winning online banking with more than 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

    http://www.bankofamerica.com/

    Photo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b Bank of America

    CONTACT: Jumana Bauwens, +1-800-796-8848,
    Jumana.bauwens@bankofamerica.com, or Rick Simon, +1-800-796-8448,
    rick.simon@bankofamerica.com, both of Bank of America; or First Call Contact:
    Kevin Stitt of Bank of America, +1-704-386-5667

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




    PharmAthene To Host Third Quarter 2009 Conference Call and Webcast on Thursday, November 12, 2009

    ANNAPOLIS, Md., Nov. 3 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (NYSE Amex: PIP) a biodefense company developing medical countermeasures against biological and chemical threats, announced today that its financial results for the third quarter of 2009 will be released on Thursday, November 12, 2009.

    PharmAthene management will be hosting a conference call to discuss its third quarter 2009 financial results. The call is scheduled to begin at 11:00 a.m. Eastern Time on Thursday, November 12, 2009, and is expected to last approximately 45 minutes.

    The dial-in number within the United States is 866-700-7173. The dial-in number for international callers is 617-213-8838. The participant pass code is 45158592.

    A replay of the conference call will be available beginning at approximately 2:00 p.m. Eastern Time on November 12, 2009 until approximately 11:59 p.m. Eastern Time on December 12, 2009. The dial-in number from within the United States is 888-286-8010. For international callers, the dial-in number is 617-801-6888. The participant pass code is 97434742.

    The conference call will also be webcast and can be accessed from the company's website at http://www.pharmathene.com/. A link to the webcast may be found under the Investor Relations section of the website. The web cast will be available for 30 days, or until approximately December 12, 2009.

    About PharmAthene, Inc.

    PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons.

    PharmAthene's lead product development programs include: -- SparVax(TM) - a second generation recombinant protective antigen (rPA) anthrax vaccine -- Third generation rPA anthrax vaccine -- Valortim® - a fully human monoclonal antibody for the prevention and treatment of anthrax infection -- Protexia® - a novel bioscavenger for the prevention and treatment of morbidity and mortality associated with exposure to chemical nerve agents -- RypVax(TM) - a recombinant dual antigen vaccine for plague For more information about PharmAthene, please visit http://www.pharmathene.com/. Contact: Stacey Jurchison PharmAthene, Inc. Phone: 410-269-2610 Stacey.Jurchison@PharmAthene.com

    PharmAthene, Inc.

    CONTACT: Stacey Jurchison, PharmAthene, Inc., +1-410-269-2610,
    Stacey.Jurchison@PharmAthene.com

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

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