ISTA Pharmaceuticals Reports Third Quarter 2009 Financial Results- Reports Operating Income and Positive Cash Flow Quarter - - Increases Full-Year 2009 Revenue Guidance to $106-$109 million -

IRVINE, Calif., Nov. 3 /PRNewswire-FirstCall/ -- ISTA Pharmaceuticals, Inc. , today reported financial results for the three months ended September 30, 2009. ISTA reported net revenue of $32.0 million for the three months ended September 30, 2009, a 47% increase over net revenue for the three months ended September 30, 2008. Included in the net revenue for the three months ended September 30, 2009 is $1.2 million associated with the launch of Bepreve(TM) (bepotastine besilate ophthalmic solution) 1.5% and $2.9 million of previously deferred revenue associated with the termination of a supply agreement. In addition, ISTA reported operating income of $5.2 million and positive cash flow of $8.2 million in the quarter, as the Company progresses towards reporting its first operating income breakeven year.

"In September, we received FDA approval to begin marketing Bepreve, a new treatment for ocular itching associated with allergic conjunctivitis. We immediately launched Bepreve, by making the decision to add over 60 new sales territories and shipping samples of Bepreve to key customers within days of the product's approval. I am pleased to report we have been receiving strong positive feedback from physicians using Bepreve in their practices," stated Vicente Anido, Jr., Ph.D., President and Chief Executive Officer of ISTA. "Our sales force is excited, and we are very proud of what we have accomplished so far, but we have just begun. The ocular allergy market is the largest market we have entered to date, and Xibrom and Istalol continue to show strong growth. We believe ISTA will finish 2009 in a strong position to allow us to continue building upon our commercial success next year.

"With respect to our product candidates under development, we reported positive preliminary Phase 3 results from our Xibrom 0.09% QD confirmatory clinical study and are working diligently to file a supplemental New Drug Application (sNDA) in 2009. Our rich late-stage pipeline includes a new low-dose formulation of bromfenac for dry eye, which is expected to enter Phase 3 studies during the first half of 2010, and bepotastine nasal spray, both of which represent even larger market opportunities than ocular allergy. We are confident in our core products and in our ability to grow our business even further over the coming years as we launch new products."

Net Revenue (in millions, except percentage data) Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September September % September September % 30, 2009 30, 2008 Change 30, 2009 30, 2008 Change Xibrom $21.4 $16.2 32% $55.1 $41.6 32% Istalol 5.1 3.9 31% 13.0 9.5 37% Vitrase 1.4 1.5 -7% 4.0 3.7 8% Bepreve 1.2 0.0 - 1.2 0.0 - Total product 29.1 21.6 35% 73.3 54.8 34% Other 2.9 0.1 - 3.1 0.2 - Total $32.0 $21.7 47% $76.4 $55.0 39% Third Quarter and Year to Date Operating Details

Net revenue for the three and nine months ended September 30, 2009 was $32.0 and $76.4 million, respectively, or an increase of 47% and 39%, respectively, over the same periods of 2008. Included in net revenue for the three and nine months in 2009 is $1.2 million associated with the launch of Bepreve and $2.9 million of previously deferred revenue associated with the termination of a supply agreement.

Gross margin for the three and nine months ended September 30, 2009 was 77%, or $24.7 million, and 76%, or $57.7 million, respectively, as compared to 73%, or $15.9 million, and 73%, or $40.2 million, respectively, for the same period in 2008. Product gross margin, excluding deferred revenue, was 75% for both the three and nine month periods ended September 30, 2009. The increase in product gross margin for the three and nine months ended September 30, 2009, as compared to the three and nine months ended September 30, 2008, was primarily the result of continued growth in prescription levels and market share, particularly for Xibrom.

Research and development expenses for the three and nine months ended September 30, 2009 were $6.3 million and $19.6 million, respectively, as compared to $7.8 million and $25.1 million, respectively, during the same periods in 2008. The decrease in research and development expenses for 2009 was primarily the result of a decrease in clinical development costs and the Company's focus on shorter term development projects.

Selling, general, and administrative expenses for the three and nine months ended September 30, 2009 were $13.2 million and $38.9 million, respectively, as compared to $13.2 million and $40.2 million, respectively, for the same periods in 2008. The decrease is primarily indicative of an overall improvement in expense management.

Operating income for the three months ended September 30, 2009 was $5.2 million, compared with an operating loss of $5.1 million in the same period of 2008. For the nine months ended September 30, 2009, the operating loss was $0.8 million, as compared with an operating loss of $25.0 million for the same period in 2008.

Net loss for the three and nine months ended September 30, 2009 including the non-cash warrant valuation charges, was $0.9 million, or $0.03 per share, and $57.2 million, or $1.72 per share, respectively, as compared with a net loss of $9.6 million, or $0.29 per share, and $32.8 million, or $0.99 per share, for the same periods in 2008. Net loss for the three months ended September 30, 2009 included $1.0 million, or $0.03 per share, in one-time non-cash charges. In addition, the non-cash warrant valuation charges for the three and nine months ended September 30, 2009, of $3.4 million, or $0.10 per share, and $50.7 million, or $1.53 per share, respectively, reflect the change in the valuation of the warrants primarily driven by an increase in our stock price plus an increase in related volatility.

At September 30, 2009, ISTA increased its cash to $55.0 million, as compared to $46.9 million at June 30, 2009.

Based upon the continued growth of ISTA's business, the Company provides this updated 2009 financial outlook:

-- Net product revenue for ISTA's four marketed products for the full-year 2009 now is expected to be $103 to $106 million. -- Total net revenue for full-year 2009, including net product revenue and $2.9 million from the one-time recognition of deferred revenue resulting from the previously disclosed modification of ISTA's partnership with Otsuka, now is expected to be $106 to $109 million. -- ISTA expects to be approximately operating income breakeven in 2009. -- Full-year 2009 gross margin guidance has been increased to 73% to 75%. -- Full-year 2009 research and development expenses are now expected to be approximately $23 to $26 million. -- ISTA expects its net loss for 2009 (excluding any mark-to-market valuation adjustments relating to warrants issued in 2008) will be approximately $7 to $10 million, as its increased net revenue will offset the costs associated with launching Bepreve and expanding its sales force. -- ISTA now expects to end 2009 with a cash balance of $45 to $55 million, including cash drawn on its Silicon Valley Bank Revolving Credit Facility. Conference Call

ISTA will host a conference call with a simultaneous webcast, today November 3, 2009, at 5:00 PM Eastern Time, to discuss its third quarter 2009 results. To access the live conference call, U.S. and Canadian participants may dial 800-510-9691; international participants may dial 617-614-3453. The access code for the live call is 62898415. To access the 24-hour audio replay, U.S. and Canadian participants may dial 888-286-8010; international participants may dial 617-801-6888. The access code for the replay is 52451599. The conference call will also be webcast live and archived on ISTA's website for 30 days at http://www.istavision.com/.

About ISTA Pharmaceuticals

ISTA Pharmaceuticals is the fourth largest branded ophthalmic pharmaceutical business in the U.S. ISTA's four marketed products plus its product candidates include therapies for inflammation, ocular pain, glaucoma, allergy, and dry eye. The Company is developing a strong product pipeline to fuel future growth and market share, thereby continuing its growth to become the leading niche ophthalmic pharmaceutical company in the U.S. For additional information regarding ISTA, please visit ISTA Pharmaceuticals' website at http://www.istavision.com/.

Bepreve(TM) (bepotastine besilate ophthalmic solution) 1.5%, Xibrom(TM) (bromfenac ophthalmic solution) 0.09%, Istalol® (timolol maleate ophthalmic solution) 0.5%, and Vitrase® (hyaluronidase injection) are trademarks of ISTA Pharmaceuticals.

Full prescribing information for Bepreve(TM) is available on ISTA Pharmaceuticals' website at http://www.istavision.com/pdf/Bepreve_insert.pdf

Full prescribing information for Xibrom is available on ISTA Pharmaceuticals' website at http://www.istavision.com/pdf/XibromPI_XIB553.pdf

Forward-looking Statements

Any statements contained in this press release that refer to future events or other non-historical matters are forward-looking statements. Without limiting the foregoing, but by way of example, statements contained in this press release relating to ISTA's 2009 expected financial results, the commercial launch of Bepreve, ISTA's expectation to begin a Phase 3 study for ISTA's low-dose formulation of bromfenac in the first half of 2010. Except as required by law, ISTA disclaims any intent or obligation to update any forward-looking statements. These forward-looking statements are based on ISTA's expectations as of the date of this press release and are subject to risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ from current expectations include, among others: timely and successful implementation of ISTA's strategic initiatives; delays and uncertainties related to ISTA's research and development programs (including the difficulty of predicting the timing or outcome of product development efforts and the FDA or other regulatory agency approval or actions); uncertainties and risks regarding market acceptance of and demand for ISTA's approved products and the impact of competitive products and pricing, including the introduction of competitive generic products; uncertainties and risks related to ISTA's ability to properly manage its growth; uncertainties and risks regarding the continued timely performance by ISTA's strategic partners of their respective obligations under existing collaborations and licensing arrangements; uncertainties and risks related to the continued availability of third party sourced products and raw materials on commercially reasonable terms, or at all; uncertainties and risks related to successful compliance with FDA and or other governmental regulations applicable to ISTA's facilities, products and/or business; uncertainties and risks related to the scope, validity, and enforceability of patents related to ISTA's products and technologies and the impact of patents and other intellectual property rights held by third parties; and such other risks and uncertainties as detailed from time to time in ISTA's public filings with the U.S. Securities and Exchange Commission, including but not limited to ISTA's Annual Report on Form 10-K for the year ended December 31, 2008 and ISTA's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009, and June 30, 2009.

ISTA Pharmaceuticals, Inc. Consolidated Statements of Operations (in thousands, except per share data) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2009 2008 2009 2008 Adjusted Adjusted Revenue: Product sales, net $29,080 $21,604 $73,309 $54,749 License revenue 2,917 69 3,055 208 ------- ------- ------- ------- Total revenue 31,997 21,673 76,364 54,957 Cost of products sold 7,304 5,806 18,647 14,761 ------- ------- ------- ------- Gross profit margin 24,693 15,867 57,717 40,196 Costs and expenses: Research and development 6,257 7,766 19,643 25,053 Selling, general, and administrative 13,187 13,198 38,874 40,150 ------- ------- ------- ------- Total costs and expenses 19,444 20,964 58,517 65,203 ------- ------- ------- ------- Income (loss) from operations 5,249 (5,097) (800) (25,007) Other (expense) income: Interest expense (2,364) (4,073) (5,647) (7,686) Gain (loss) on derivative valuation 319 (422) 1,158 (380) Loss on warrant valuation (3,396) - (50,703) - Other, net (725) 24 (1,183) 293 ------- ------- ------- ------- Total other expense, net (6,166) (4,471) (56,375) (7,773) ------- ------- ------- ------- Net loss $(917) $(9,568) $(57,175) $(32,780) ======= ======= ======= ======= Net loss per common share, basic and diluted $(0.03) $(0.29) $(1.72) $(0.99) ======= ======= ======= ======= Shares used in computing net loss per common share, basic and diluted 33,251 33,037 33,210 33,018 ISTA Pharmaceuticals, Inc. Summary of Consolidated Balance Sheet Data (in thousands) (unaudited) September 30, 2009 December 31, 2008 Adjusted Cash and cash equivalents $55,037 $48,316 Short-term investments - 4,700 Working capital 26,644 31,500 Total assets 84,970 82,660 Total stockholders' deficit (78,410) (17,199)

ISTA Pharmaceuticals, Inc.

CONTACT: Vince Anido, Ph.D., +1-949-788-5311, vanido@istavision.com; or
Lauren Silvernail, +1-949-788-5302, lsilvernail@istavision.com, both of ISTA
Pharmaceuticals; Investors: Juliane Snowden, jsnowden@burnsmc.com, or Media:
Justin Jackson, jjackson@burnsmc.com, both of Burns McClellan,
+1-212-213-0006, for ISTA Pharmaceuticals

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

Kenneth Cole Productions, Inc. Reports Better than Expected Q3 Results- Q3 Profit of $0.01 Per Share Exceeds Guidance of a Loss of $(0.03) to $(0.08) - - Gross Margin Gain and Expense Reduction Drives Improvement - - Inventory Down 36% Versus Year-Ago Quarter -

NEW YORK, Nov. 3 /PRNewswire-FirstCall/ -- Kenneth Cole Productions, Inc. today reported financial results for the third quarter ended September 30, 2009. The Company reported earnings per fully-diluted share of $0.01 for the quarter versus its prior guidance of a loss of between $(0.03) and $(0.08) per share and the year-ago loss of $(0.09) per share. The better than expected profit performance was the result of improved gross margins, effective inventory controls, and significant reductions in operating overhead versus the prior year's period.

As anticipated, third quarter net revenues decreased to $103.8 million versus $132.1 million in the year-ago period. This was largely due to a decline in wholesale sales resulting from the planned exit from the Company's Tribeca and Bongo businesses as well as reductions in associated private label programs and in off-price distribution.

Consolidated gross margin increased 220 basis points to 43.3% compared to 41.1% in the year-ago period, driven by improved margins in the Company's consumer direct business. Selling, general and administrative expenses declined $7.3 million, or 14.1%, in the third quarter to $44.6 million versus the year-ago level of $51.9 million as a result of various streamlining initiatives.

Inventory levels at the close of the quarter continued to improve and were down 35.5% to $36.4 million compared to $56.5 million at the end of the third quarter last year. The Company noted that its balance sheet remained strong at September 30, 2009 with cash of $50.0 million and no long-term debt.

Kenneth Cole, Chairman and Chief Creative Officer, commented, "Our business is improving, although we still have much work yet to do. Our renewed focus on product innovation is creating new opportunities for our brands and our business, which should accelerate our strategic transformation and drive increased value to our shareholders."

Jill Granoff, Chief Executive Officer, said, "I am pleased that our business returned to profitability in the third quarter. Through the collective efforts of our talented team, we have carefully managed our inventories, improved margins and reduced expenses, while maintaining a strong balance sheet. At the same time, we have begun a comprehensive effort to ensure that we have the right product, at the right price, in the right distribution to meet the needs of today's discerning consumer."

Also today, the Company issued financial guidance for the fourth quarter. The Company expects to report net revenues in the range of $107 million to $112 million versus the year-ago level of $127 million and operating earnings per share of between $0.04 and $0.08. A year ago, the Company reported a loss of $(0.67) per share, which included $(0.40) per share of non-operating charges.

About Kenneth Cole Productions, Inc.

Kenneth Cole Productions, Inc. designs, sources, and markets a broad range of footwear, handbags, apparel and accessories under the brand names Kenneth Cole New York; Kenneth Cole Reaction; Unlisted; and Le Tigre, as well as footwear under the proprietary trademark Gentle Souls. The Company has also granted a wide variety of third party licenses for the production of men's, women's and children's apparel as well as fragrances, watches, jewelry, eyewear, and several other accessory categories. The Company's products are distributed through department stores, better specialty stores, company-owned retail stores and its e-commerce website. Further information can be found at http://www.kennethcole.com/.

Forward Looking Statement Disclosure

The statements contained in this release, which are not historical facts, may be deemed to constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual future results might differ materially from those projected in such statements due to a number of risks and uncertainties, including but not limited to, demand and competition for the Company's products, the ability to enter into new product license agreements or to renew or replace existing product licensee agreements, changes in consumer preferences or fashion trends, delays in anticipated store openings, and changes in the Company's relationships with retailers, licensees, vendors and other resources. The forward looking statements contained herein are also subject to other risks and uncertainties that are described in the Company's reports and registration statements filed with the Securities and Exchange Commission.

Kenneth Cole Productions, Inc. (unaudited) (In thousands, except Quarter Ended Nine Months Ended per share & outstanding ------------- ----------------- share amounts) 09/30/09 09/30/08 09/30/09 09/30/08 -------- -------- -------- -------- Net sales $93,336 $120,161 $272,458 $333,669 Licensing and other revenue 10,416 11,947 28,569 32,087 ------ ------ ------ ------ Net revenue $103,752 $132,108 $301,027 $365,756 ======== ======== ======== ======== Gross profit 44,881 54,351 119,766 150,622 Selling, gen'l & administrative 44,595 51,896 136,507 150,113 Severance (Salary, Taxes, Restricted Stock & Benefits - - 1,235 - Net Lease Termination Benefit - - (509) - --- --- ---- --- Total Operating Expense 44,595 51,896 137,233 150,113 Operating income (loss) 286 2,455 (17,467) 509 Interest income 94 395 414 1,637 Investment impairment (287) (3,282) (727) (4,114) ---- ------ ---- ------ Total Interest & Other Expense 193 2,887 313 2,477 Income (loss) before taxes 93 (432) (17,780) (1,968) Income tax (benefit) expense (93) 1,122 (6,532) 831 --- ----- ------ --- Net income (loss) $186 ($1,554) ($11,248) ($2,799) ==== ======= ======== ======= Net income (loss) per share: Basic $0.01 ($0.09) ($0.63) ($0.15) ===== ====== ====== ====== Net income (loss) per share: Diluted $0.01 ($0.09) ($0.63) ($0.15) ===== ====== ====== ====== Average shares outstanding: Basic 18,018,000 17,903,000 17,954,000 18,604,000 Average shares outstanding: Diluted 18,423,000 17,903,000 17,954,000 18,604,000 Balance Sheet Data: 09/30/09 09/30/08 ------------------- -------- -------- Cash & Cash Equivalents $50,036 $50,992 Due from Factor/Accounts Receivable 40,691 55,948 Inventory 36,397 56,462 Total Assets 306,061 331,324 Working Capital 81,292 112,780 Accounts Payable & Accrued Expenses 44,869 44,338 Long-term Debt - - Total Shareholders' Equity 193,677 213,040

Kenneth Cole Productions, Inc.

CONTACT: David Edelman, Chief Financial Officer, Kenneth Cole
Productions, Inc., +1-212-265-1500, or Investors: James R. Palczynski,
Principal, Integrated Corporate Relations, Inc., +1-203-682-8229

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

WebMD Announces Third Quarter Financial ResultsTotal Revenue Increased 15%; Advertising Revenue Increased 20%

NEW YORK, Nov. 3 /PRNewswire-FirstCall/ -- WebMD Health Corp. , the leading source of health information, today announced financial results for the three months ended September 30, 2009.

"Our reported results mark another quarter of strong financial and operating performance," said Wayne Gattinella, President and CEO. "In the face of a generally challenging media environment, WebMD continues to expand its audience, revenue and operating margins. We are seeing strong momentum in our business and are excited about the opportunities for growth ahead of us."

Financial Summary

Revenue for the third quarter was $111.6 million, compared to $96.8 million in the prior year period, an increase of 15%. Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") for the third quarter was $33.1 million or $0.56 per share, compared to $25.5 million or $0.43 per share in the prior year period, an increase of 30%.

Income from continuing operations for the third quarter was $12.6 million or $0.21 per share, compared to $10.0 million or $0.17 per share in the prior year period. Income from discontinued operations was $0.2 million in the third quarter, compared to $0.8 million in the prior year period. Net income for the third quarter was $12.8 million or $0.21 per share, compared to $10.8 million or $0.18 per share in the prior year period.

WebMD's print directory business, Little Blue Book, was sold on September 30, 2009 and is reflected as a discontinued operation in the Company's financial statements for current and prior periods.

Public portal advertising and sponsorship revenue was $89.4 million for the third quarter, compared to $74.7 million in the prior year period, an increase of 20%. Traffic to the WebMD Health Network continued to grow strongly, reaching an average of 59.2 million unique users per month and total traffic of 1.4 billion page views during the third quarter, increases of 19% and 27%, respectively, from a year ago. In the third quarter, 1.6 million continuing medical education (CME) programs were completed on the WebMD Professional Network, an increase of 25% from the prior year period.

Private portal services revenue was $22.2 million for the third quarter compared to $22.1 million in the prior year period. The revenue and base of large employers and health plans utilizing WebMD's private Health and Benefits portals during the third quarter were comparable with the prior year period.

WebMD's third quarter results released today do not reflect the recently completed merger with HLTH Corporation, its former parent company, which was completed after the end of the quarter.

WebMD Launches New Consumer Health Portal in the UK

WebMD launched its first consumer health portal outside the U.S. in October. WebMD partnered with Boots, the leading pharmacy and health and beauty retailer in the UK, to launch a new health portal designed expressly for the health and wellness needs of the UK consumer. The new co-branded Boots WebMD site at http://www.boots.webmd.com/ features 44 condition and healthy living centers, daily health and wellness news, interactive health tools, WebMD's symptom checker, specialized health search, health videos and interactive slide shows. Mr. Gattinella said, "The site launched at the end of October to much fanfare and very positive initial user feedback in the UK. There is a large opportunity in the UK with over 20% of the estimated $30 billion of annual advertising expenditures in the UK spent online."

WebMD Launches Medscape Mobile for Physicians

In July, WebMD launched Medscape Mobile, WebMD's first mobile application for physicians. Medscape Mobile provides the most comprehensive drug information, clinical reference tools, medical news and continuing medical education on a mobile device. It is the only mobile application to deliver specialty-specific news and medical education, leveraging Medscape's assets and award winning professional editorial team. Development is underway to launch new product enhancements and additional mobile platforms including BlackBerry® later this year. Mr. Gattinella said, "Medscape Mobile continues to rank at the top of the App Store for medical applications, with already over 200,000 downloads since launching three months ago."

WebMD Launches Healthy Pets

In October, WebMD launched the WebMD Healthy Pets channel on WebMD.com, which provides pet owners with the latest health and wellness information to help their pets live healthier lives. WebMD Healthy Pets provides veterinarian-reviewed information on pet diet and nutrition, behavior and training, and preventive care. More than 75% of WebMD users are pet owners who also care for the health of their pets and nearly $700 million is spent annually on marketing pet supplies and services in the U.S. Mr. Gattinella said, "We continue to invest in new markets that have the opportunity to significantly expand our user base and penetrate new areas of revenue opportunity for the future."

Merger with HLTH Completed

As previously announced, WebMD and HLTH completed their merger on October 23, 2009. The applicable accounting treatment for the merger results in HLTH being treated as the acquiring entity and, as a result, the pre-acquisition consolidated financial statements of HLTH will become the historical financial statements of WebMD beginning with reporting for the fourth quarter of 2009. WebMD is furnishing, as Exhibit 99.5 to the Current Report on Form 8-K filed with the SEC by WebMD today, a copy of HLTH's financial information for the third quarter of 2009.

As of the merger closing date of October 23, 2009, WebMD had approximately $1 billion in cash and investments and had outstanding approximately $515 million in aggregate principal amount of convertible notes.

Financial Guidance

The Company reaffirmed its financial guidance for the fourth quarter and calendar year 2009 today and narrowed the ranges for its anticipated revenue and Adjusted EBITDA by raising the low end of those ranges. This financial guidance reflects the prior financial guidance for the Company's former parent, HLTH Corporation, whose historical financial statements are required to be adopted by WebMD as a result of the merger.

For 2009, WebMD expects: -- Total revenue to be approximately $430 million to $440 million, an increase of 15% to 18% over 2008; -- Adjusted EBITDA to be approximately $106 million to $111 million, an increase of 24% to 25% over 2008; -- Income from continuing operations to be approximately $11 million to $14 million, or $0.22 to $0.27 per share.

These amounts represent growth of approximately 19% to 23% in public portal advertising and sponsorship revenue and approximately 2% in private portal services revenue.

Additional detail is provided in a schedule attached to this release. Analyst and Investor Conference Call

As previously announced, WebMD will hold a conference call with investors and analysts to discuss its third quarter results at 4:45 pm (eastern) today. The call can be accessed at http://www.wbmd.com/ (in the Investor Relations section). A replay of the audio webcast will be available at the same web address.

About WebMD

WebMD Health Corp. is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through our public and private online portals and health-focused publications.

The WebMD Health Network includes WebMD Health, Medscape, MedicineNet, eMedicine, eMedicine Health, RxList and theHeart.org.

All statements contained in this press release and the related analyst and investor conference call, other than statements of historical fact, are forward-looking statements, including those regarding: guidance on our future financial results and other projections or measures of our future performance; market opportunities and our ability to capitalize on them; the benefits expected from new or updated products or services and from other potential sources of additional revenue; and expectations regarding the market for investments in auction rate securities (ARS). These statements speak only as of the date of this press release, are based on our current plans and expectations, and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: market acceptance of our products and services; our relationships with customers and strategic partners; changes in the markets for ARS; and changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet and information technology industries. Further information about these matters can be found in our Securities and Exchange Commission filings. Except as required by applicable law or regulation, we do not undertake any obligation to update our forward-looking statements to reflect future events or circumstances.

This press release, and the accompanying tables, include both financial measures in accordance with accounting principles generally accepted in the United States of America, or GAAP, as well as certain non-GAAP financial measures. The tables attached to this press release include reconciliations of these non-GAAP financial measures to GAAP financial measures. In addition, an "Explanation of Non-GAAP Financial Measures" is attached to this press release as Annex A.

WebMD®, Medscape®, eMedicine®, MedicineNet®, RxList®, Subimo®, Medsite®, and Summex®, are trademarks of WebMD Health Corp. or its subsidiaries.

WEBMD HEALTH CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data, unaudited) Three Months Nine Months Ended Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenue $111,568 $96,797 $300,463 $263,451 Cost of operations 41,965 34,225 117,759 97,120 Sales and marketing 26,265 26,021 80,623 76,068 General and administrative 15,961 14,774 45,826 42,465 Depreciation and amortization 6,988 7,056 20,729 20,815 Interest income 834 2,616 2,733 8,419 Impairment of auction rate securities - - - 27,406 --- --- --- ------ Income from continuing operations before income tax provision 21,223 17,337 38,259 7,996 Income tax provision 8,622 7,375 15,469 15,308 ----- ----- ------ ------ Income (loss) from continuing operations 12,601 9,962 22,790 (7,312) Income (loss) from discontinued operations, net of tax 190 804 (5,100) 1,095 --- --- ------ ----- Net income (loss) $12,791 $10,766 $17,690 $(6,217) ======= ======= ======= ======= Basic income (loss) per common share: Income (loss) from continuing operations $0.22 $0.17 $0.39 $(0.13) Income (loss) from discontinued operations 0.00 0.02 (0.09) 0.02 ---- ---- ----- ---- Net income (loss) $0.22 $0.19 $0.30 $(0.11) ===== ===== ===== ====== Diluted income (loss) per common share: Income (loss) from continuing operations $0.21 $0.17 $0.39 $(0.13) Income (loss) from discontinued operations 0.00 0.01 (0.09) 0.02 ---- ---- ----- ---- Net income (loss) $0.21 $0.18 $0.30 $(0.11) ===== ===== ===== ====== Weighted-average shares outstanding used in computing basic and diluted net income (loss) per common share: Basic 57,777 57,770 57,676 57,699 ====== ====== ====== ====== Diluted 58,844 59,111 58,445 57,699 ====== ====== ====== ====== WEBMD HEALTH CORP. CONSOLIDATED SUPPLEMENTAL FINANCIAL INFORMATION (In thousands, except per share data, unaudited) Three Months Nine Months Ended Ended September 30, September 30, ------------- -------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenue Public portal advertising and sponsorship $89,414 $74,658 $232,695 $197,523 Private portal services 22,154 22,139 67,768 65,928 ------ ------ ------ ------ $111,568 $96,797 $300,463 $263,451 ======== ======= ======== ======== Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") (a) $33,123 $25,467 $75,029 $60,191 ------- ------- ------- ------- Adjusted EBITDA per basic common share $0.57 $0.44 $1.30 $1.04 ----- ----- ----- ----- Adjusted EBITDA per diluted common share $0.56 $0.43 $1.28 $1.04 ----- ----- ----- ----- Interest, taxes, non-cash and other items (b) Interest income 834 2,616 2,733 8,419 Depreciation and amortization (6,988) (7,056) (20,729) (20,815) Non-cash advertising - (178) (1,753) (1,736) Non-cash stock-based compensation (5,746) (3,512) (17,021) (10,657) Impairment of auction rate securities - - - (27,406) Income tax provision (8,622) (7,375) (15,469) (15,308) ------ ------ ------- ------- Income (loss) from continuing operations 12,601 9,962 22,790 (7,312) Income (loss) from discontinued operations, net of tax 190 804 (5,100) 1,095 --- --- ------ ----- Net income (loss) $12,791 $10,766 $17,690 $(6,217) ======= ======= ======= ======= Basic income (loss) per common share: Income (loss) from continuing operations $0.22 $0.17 $0.39 $(0.13) Income (loss) from discontinued operations 0.00 0.02 (0.09) 0.02 ---- ---- ----- ---- Net income (loss) $0.22 $0.19 $0.30 $(0.11) ===== ===== ===== ====== Diluted income (loss) per common share: Income (loss) from continuing operations $0.21 $0.17 $0.39 $(0.13) Income (loss) from discontinued operations 0.00 0.01 (0.09) 0.02 ---- ---- ----- ---- Net income (loss) $0.21 $0.18 $0.30 $(0.11) ===== ===== ===== ====== Weighted-average shares outstanding used in computing per share amounts: Basic 57,777 57,770 57,676 57,699 ====== ====== ====== ====== Diluted 58,844 59,111 58,445 57,699 ====== ====== ====== ====== (a) See Annex A - Explanation of Non-GAAP Financial Measures (b) Reconciliation of Adjusted EBITDA to net income (loss) WEBMD HEALTH CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, unaudited) September 30, 2009 December 31, 2008 ------------------ ----------------- ASSETS Current assets: Cash and cash equivalents $275,250 $191,659 Accounts receivable, net 87,072 93,082 Current portion of prepaid advertising - 1,753 Other current assets 9,286 11,358 Assets of discontinued operations - 12,575 --- ------ Total current assets 371,608 310,427 Investments 126,564 133,563 Property and equipment, net 52,286 54,165 Goodwill 208,967 208,967 Intangible assets, net 21,416 26,237 Other assets 13,259 22,573 ------ ------ $794,100 $755,932 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accrued expenses $31,760 $31,241 Deferred revenue 83,861 79,613 Due to HLTH 1,378 427 Liabilities of discontinued operations - 2,599 --- ----- Total current liabilities 116,999 113,880 Other long-term liabilities 7,539 8,334 Stockholders' equity 669,562 633,718 ------- ------- $794,100 $755,932 ======== ======== WEBMD HEALTH CORP. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands, unaudited) Nine Months Ended September 30, -------------------------------- 2009 2008 ---- ---- Cash flows from operating activities: Net income (loss) $17,690 $(6,217) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Loss (income) from discontinued operations, net of tax 5,100 (1,095) Depreciation and amortization 20,729 20,815 Non-cash advertising 1,753 1,736 Non-cash stock-based compensation 17,021 10,657 Deferred and other income taxes 14,835 14,977 Impairment of auction rate securities - 27,406 Changes in operating assets and liabilities: Accounts receivable 6,010 6,275 Other assets (587) (2,651) Accrued expenses and other long-term liabilities (276) (286) Due to HLTH 951 563 Deferred revenue 4,248 5,367 ----- ----- Net cash provided by continuing operations 87,474 77,547 Net cash provided by discontinued operations 728 3,205 --- ----- Net cash provided by operating activities 88,202 80,752 Cash flows from investing activities: Proceeds from maturities and sales of available-for-sale securities 1,800 43,300 Purchases of available-for-sale securities - (127,900) Purchases of property and equipment (14,131) (15,014) Cash received from sale of businesses, net of fees 2,840 1,133 ----- ----- Net cash used in continuing operations (9,491) (98,481) Net cash used in discontinued operations (8) (40) -- --- Net cash used in investing activities (9,499) (98,521) Cash flows from financing activities: Proceeds from issuance of common stock 4,823 3,453 Tax benefit on stock-based awards 65 315 -- --- Net cash provided by financing activities 4,888 3,768 Net increase (decrease) in cash and cash equivalents 83,591 (14,001) Cash and cash equivalents at beginning of period 191,659 213,753 ------- ------- Cash and cash equivalents at end of period $275,250 $199,752 ======== ======== FINANCIAL GUIDANCE SUMMARY WebMD Health Corp 2009 Financial Guidance (in millions, except per share amounts) Quarterly period ending, ------------------------ March June September December 31, 2009 30, 2009 30, 2009 31, 2009 Actuals Actuals Actuals Guidance Range ------- ------- ------- -------------- Revenue $90.3 $98.6 $111.6 $129.5 $139.5 ===== ===== ====== ====== ====== Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") (a) (d) $15.3 $20.0 $30.5 $40.0 $45.0 Adjusted EBITDA per diluted share $0.34 $0.43 $0.63 $0.68 $0.76 Interest, taxes, non-cash and other items (b) Interest income 2.3 2.0 1.8 1.5 2.0 Interest expense (6.5) (5.8) (5.5) (5.6) (5.6) Depreciation and amortization (7.1) (7.0) (7.1) (8.0) (7.5) Non-cash stock-based compensation (9.2) (9.4) (9.2) (9.5) (9.0) Non-cash advertising (1.8) - - - - Gain on repurchases of convertible notes 6.6 3.5 - - - Income tax benefit (provision) (c) 1.2 (0.7) (5.4) (10.5) (13.8) Other expenses (0.3) (0.6) (0.1) - - ---- ---- ---- ----- ----- Consolidated income from continuing operations before minority (non-controlling) interest $0.5 $2.0 $5.0 $7.9 $11.1 ==== ==== ==== ==== ===== Income (loss) from continuing operations attributable to Company shareholders (e) $(0.2) $0.7 $2.9 $7.4 $10.1 ===== ==== ==== ==== ===== Income (loss) from continuing operations per share: Basic $(0.00) $0.02 $0.06 $0.13 $0.18 Diluted $(0.00) $0.01 $0.05 $0.13 $0.17 Weighted-average shares outstanding (f): Basic 45.2 45.6 46.1 55.0 55.0 Diluted 45.2 46.7 48.6 59.0 59.0 Pro-forma share information (g) Pro-forma consolidated income from continuing operations before minority (non-controlling) interest per share: Basic $0.01 $0.04 $0.09 $0.14 $0.19 Diluted $0.01 $0.03 $0.08 $0.13 $0.18 Pro-forma Adjusted EBITDA per diluted share $0.27 $0.35 $0.51 $0.66 $0.74 Pro-forma weighted-average shares outstanding: Basic 54.7 55.2 55.8 57.0 57.0 Diluted 56.2 57.1 59.4 61.0 61.0 Year Ending December 31, 2009 Guidance Range -------------- Revenue $430.0 $440.0 ====== ====== Earnings before interest, taxes, non-cash and other items ("Adjusted EBITDA") (a) (d) $105.8 $110.8 Adjusted EBITDA per diluted share $2.12 $2.22 Interest, taxes, non-cash and other items (b) Interest income 7.6 8.1 Interest expense (23.4) (23.4) Depreciation and amortization (29.2) (28.7) Non-cash stock-based compensation (37.3) (36.8) Non-cash advertising (1.8) (1.8) Gain on repurchases of convertible notes 10.1 10.1 Income tax benefit (provision) (c) (15.4) (18.7) Other expenses (1.0) (1.0) ----- ----- Consolidated income from continuing operations before minority (non-controlling) interest $15.4 $18.6 ===== ===== Income (loss) from continuing operations attributable to Company shareholders (e) $10.8 $13.5 ===== ===== Income (loss) from continuing operations per share: Basic $0.23 $0.28 Diluted $0.22 $0.27 Weighted-average shares outstanding (f): Basic 48.0 48.0 Diluted 49.9 49.9 Pro-forma share information (g) Pro-forma consolidated income from continuing operations before minority (non-controlling) interest per share: Basic $0.28 $0.33 Diluted $0.26 $0.32 Pro-forma Adjusted EBITDA per diluted share $1.81 $1.90 Pro-forma weighted-average shares outstanding: Basic 55.7 55.7 Diluted 58.4 58.4 WebMD and HLTH completed their merger on October 23, 2009. The applicable accounting treatment for the merger results in HLTH being treated as the acquiring entity and, as a result, the pre-acquisition consolidated financial statements of HLTH will become the historical financial statements of WebMD beginning with reporting for the fourth quarter of 2009. The March, June and September 2009 quarterly information presented above, reflect HLTH's historical financial information, after adjustment for share and per share data based on the merger exchange ratio. Also presented above is pro-forma share information, presenting the effect of the merger as if it occurred as of January 1, 2009. (a) See Annex A - Explanation of Non-GAAP Financial Measures (b) Reconciliation of Adjusted EBITDA to consolidated income from continuing operations (c) The income tax provision excludes any benefit relating to any reversal in 2009 of the valuation allowance against deferred tax assets (d) Includes HLTH expenses previously categorized as 'Corporate' of $3.4, $3.2 and $2.6 for the March, June and September 2009 quarters, respectively (e) Represents income (loss) from continuing operations, net of minority (non-controlling) interest of HLTH for periods prior to the merger (f) Represents historical share information of HLTH, adjusted for the .4444 merger exchange ratio (g) Pro-forma weighted-average shares outstanding and related pro-forma share information assumes the merger took place on January 1, 2009 as follows: - Decreasing shares outstanding for the elimination of WebMD's 48.1 million Class B shares which have been retired - Increasing basic shares outstanding for HLTH's common shares which have been converted to WebMD shares based on the .4444 merger exchange ratio - Increasing diluted shares outstanding for HLTH's stock options which have been converted to WebMD options based on the .4444 merger exchange ratio The above December 2009 quarter and full year guidance excludes a gain related to the sale of our Porex business and a charge related to the merger and other actions, which include severance and related expenses. ANNEX A Explanation of Non-GAAP Financial Measures (All dollar amounts in thousands)

The accompanying WebMD Health Corp. press release and financial tables include both financial measures in accordance with U.S. generally accepted accounting principles, or GAAP, as well as non-GAAP financial measures. The non-GAAP financial measures represent earnings before interest, taxes, non-cash and other items (which we refer to as "Adjusted EBITDA") and related per share amounts. Adjusted EBITDA should be viewed as supplemental to, and not as an alternative for, "income (loss) from continuing operations" or "net income (loss)" calculated in accordance with GAAP. The tables attached to the accompanying press release include reconciliations of non-GAAP financial measures to GAAP financial measures.

Adjusted EBITDA is used by WebMD's management as an additional measure of WebMD's performance for purposes of business decision-making, including developing budgets, managing expenditures, and evaluating potential acquisitions or divestitures. Period-to-period comparisons of Adjusted EBITDA help WebMD's management identify additional trends in WebMD's financial results that may not be shown solely by period-to-period comparisons of income (loss) from continuing operations or net income (loss). In addition, WebMD uses Adjusted EBITDA in the incentive compensation programs applicable to many of its employees in order to evaluate WebMD's performance. WebMD management recognizes that Adjusted EBITDA has inherent limitations because of the excluded items, particularly those items that are recurring in nature. In order to compensate for those limitations, management also reviews the specific items that are excluded from Adjusted EBITDA, but included in income (loss) from continuing operations or net income (loss), as well as trends in those items. The amounts of those items are set forth, for the applicable periods, in the reconciliations of Adjusted EBITDA to income (loss) from continuing operations or to net income (loss) that accompany our press releases containing non-GAAP financial measures, including the reconciliations contained in the tables attached to the accompanying press release.

WebMD believes that the presentation of Adjusted EBITDA is useful to investors in their analysis of WebMD's results for reasons similar to the reasons why WebMD's management finds it useful and because it helps facilitate investor understanding of decisions made by WebMD's management in light of the performance metrics used in making those decisions. In addition, as more fully described below, WebMD believes that providing Adjusted EBITDA, together with a reconciliation of Adjusted EBITDA to income (loss) from continuing operations or to net income (loss), helps investors make comparisons between WebMD and other companies that may have different capital structures, different effective income tax rates and tax attributes, different capitalized asset values and/or different forms of employee compensation. However, Adjusted EBITDA is intended to provide a supplemental way of comparing WebMD with other public companies and is not intended as a substitute for comparisons based on "income (loss) from continuing operations" or "net income (loss)" calculated in accordance with GAAP. In making any comparisons to other companies, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance. Investors should pay close attention to the specific definition being used and to the reconciliation between such measures and the corresponding GAAP measures provided by each company under applicable SEC rules.

The following is an explanation of the items excluded by WebMD from Adjusted EBITDA but included in income (loss) from continuing operations:

-- Depreciation and Amortization. Depreciation and amortization expense is a non-cash expense relating to capital expenditures and intangible assets arising from acquisitions that are expensed on a straight-line basis over the estimated useful life of the related assets. WebMD excludes depreciation and amortization expense from Adjusted EBITDA because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of WebMD's business operations and (ii) such expenses can vary significantly between periods as a result of new acquisitions and full amortization of previously acquired tangible and intangible assets. Accordingly, WebMD believes this exclusion assists management and investors in making period-to-period comparisons of operating performance. Investors should note that use of tangible and intangible assets contributed to revenue in the periods presented and will contribute to future revenue generation and should also note that such expenses will recur in future periods. -- Stock-Based Compensation Expense. Stock-based compensation expense is a non-cash expense arising from the grant of stock-based awards to employees. WebMD believes that excluding the effect of stock-based compensation from Adjusted EBITDA assists management and investors in making period-to-period comparisons in its operating performance because it believes (i) the amount of such expenses in any specific period may not directly correlate to the underlying performance of WebMD's business operations and (ii) such expenses can vary significantly between periods as a result of the timing of grants of new stock-based awards, including grants in connection with acquisitions. Additionally, WebMD believes that excluding stock-based compensation from Adjusted EBITDA assists management and investors in making meaningful comparisons between WebMD's operating performance and the operating performance of other companies that may use different forms of employee compensation or different valuation methodologies for their stock-based compensation. Investors should note that stock-based compensation is a key incentive offered to employees whose efforts contributed to the operating results in the periods presented and are expected to contribute to operating results in future periods. Investors should also note that such expenses will recur in the future. Stock-based compensation expenses included in the Statement of Operations are summarized as follows: Three Months Nine Months Ended Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Non-cash stock-based compensation included in: Cost of operations $(1,743) $(997) $(4,921) $(2,930) Sales and marketing $(1,948) $(1,215) $(5,499) $(3,602) General and administrative $(2,055) $(1,300) $(6,601) $(4,125) Income (loss) from discontinued operations $85 $(63) $(89) $(118) -- Non-Cash Advertising Expense. This expense relates to the usage of non-cash advertising obtained from News Corporation ("Newscorp") in exchange for equity securities issued by our parent, HLTH Corporation in 2000. The advertising was available only on various Newscorp properties, primarily its television network and cable channels, without any cash cost to WebMD and expired this year. WebMD excludes this expense from Adjusted EBITDA (i) because it is a non-cash expense, (ii) because it is incremental to other non-television cash advertising expense that WebMD otherwise incurs and (iii) to assist management and investors in comparing its operating results over multiple periods. Investors should note that it is likely that WebMD derives some benefit from such advertising. Non-cash advertising expenses included in the Consolidated Statement of Operations in Sales and Marketing expense were $1,753 and $1,736 for the nine months ended September 30, 2009 and 2008, respectively, and $178 for the three months ended September 30, 2008. There were no non-cash advertising expenses for the three months ended September 30, 2009. -- Interest Income. Interest income is associated with the level of marketable debt securities and other interest bearing accounts in which WebMD invests. Interest income varies over time due to varying levels of securities available for investment. Transactions that WebMD has entered into in recent periods that have impacted securities available for investment include the initial public offering of equity in WebMD and acquisitions of other companies for varying amounts of cash since our initial public offering. Additional financing transactions as well as potential acquisitions that WebMD may enter into in the future could impact the levels and timing of securities available for investment. WebMD excludes interest income from Adjusted EBITDA (i) because it is not directly attributable to the performance of WebMD's business operations and, accordingly, its exclusion assists management and investors in making period-to-period comparisons of operating performance and (ii) to assist management and investors in making comparisons to companies with different capital structures. Investors should note that interest income will recur in future periods. -- Income Tax Provision (Benefit). WebMD maintains a valuation allowance on a portion of its net operating loss carryforwards, the amount of which may change from quarter to quarter based on factors that are not directly related to WebMD's results for the quarter. The valuation allowance is either reversed through the statement of operations or additional paid-in capital. The timing of such reversals has not been consistent and as a result, WebMD's income tax expense can fluctuate significantly from period to period in a manner not directly related to WebMD's operating performance. WebMD excludes the income tax provision (benefit) from Adjusted EBITDA (i) because it believes that the income tax provision (benefit) is not directly attributable to the underlying performance of WebMD's business operations and, accordingly, its exclusion assists management and investors in making period-to-period comparisons of operating performance and (ii) to assist management and investors in making comparisons to companies with different tax attributes. Investors should note that income tax provision (benefit) will recur in future periods. -- Other Items. WebMD engages in various activities and transactions that can impact WebMD's overall income (loss) from continuing operations. WebMD excludes these other items from Adjusted EBITDA when it believes these activities or transactions are not directly attributable to the performance of WebMD's business operations and, accordingly, their exclusion assists management and investors in making period-to-period comparisons of operating performance. Investors should note that these other items may recur in future periods. In the accompanying press release and financial tables, WebMD has excluded loss on the impairment of auction rate securities from Adjusted EBITDA.

WebMD

CONTACT: Investors: Risa Fisher, +1-212-624-3817, rfisher@webmd.net; or
Media: Kate Hahn, +1-212-624-3760, khahn@webmd.net

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

CU*Answers and Firethorn to Deliver Mobile Banking Services- Firethorn Application and SMS Service Will Drive Customer Adoption for More Than 165 Credit Unions -

BOSTON, Nov. 3 /PRNewswire-FirstCall/ -- Firethorn Holdings, LLC, a Qualcomm company , and CU*Answers today announced that the credit union service organization has selected Firethorn's Mobile Banking application and SMS service for its more than 165 credit unions. CU*Answers represents more than 1.5 million members with more than $10 billion in credit union assets.

"What makes us truly excited about this new relationship is that Firethorn has the opportunity to reach CU*Answers' credit unions with a single integration and branding, which is a first for us," said Dave Vigil, senior vice president of Firethorn. "CU*Answers and Firethorn share the same vision that the future of mobile banking is now. Financial institutions that develop their mobile strategies early will be well positioned to meet consumers' growing demand for these services."

In the second quarter of 2010, CU*Answers will offer Firethorn's mobile banking application and SMS service to its credit unions for deployment. Through the application, members can check their balances, pay their bills, transfer funds and receive offers, all from their mobile phones.

In addition to the mobile banking application, Firethorn's solution also provides CU*Answers with SMS capabilities, allowing members to receive account alerts or provider messages via SMS, or initiate requests for transaction history or balance information by sending an SMS message.

"The marketplace is abuzz with enthusiasm at the potential that mobile banking holds for consumers. The only way for that potential to be met by credit unions effectively is to build, learn and evolve our offerings now," said Randy Karnes, CEO for CU*Answers. "CU*Answers was looking for a provider that would allow us the flexibility to bring the product to market. Firethorn and our board of directors delivered the perfect plan."

Firethorn's mobile commerce platform features a combination of banking, payments and commerce solutions for the present and future generations of mobile services. The application provides consumers with simple, convenient and efficient access to financial account information and other services such as loyalty programs and targeted offers from financial institutions and retail merchants.

About CU*Answers

CU*Answers was founded over 35 years ago and is a 100 percent Credit Union owned CUSO located in Grand Rapids, Michigan. CU*Answers offers a wide variety of services for credit unions, including its flagship CU*BASE Processing System in both an Online (ASP) and In-house environment, Internet Development Services featuring the It's Me 247 Online Banking product, Member Check Processing and Direct Deposit processing services. CU*Answers provides combined services to 165 credit unions nationally representing nearly 1.5 million members and $10 billion in credit union assets. For more information about how "We Make Credit Unions Go," please visit CU*Answers at cuanswers.com.

About Firethorn

Firethorn Holdings, LLC, a Qualcomm company , is providing an important link in the emerging mobile commerce ecosystem. As a pioneer in mobile banking, Firethorn is transforming the traditional wallet into a streamlined, efficient and protected mobile revenue channel that will bridge relationships among financial institutions, retailers, wireless operators and consumers. Firethorn's innovative technology creates easily accessible, branded and personalized mobile commerce channels that give consumers access to their accounts, offers and transactions while on the go. For more information about Firethorn, visit http://www.firethornmobile.com/.

Firethorn is a registered trademark of Firethorn Holdings, LLC. Qualcomm is a registered trademark of Qualcomm Incorporated.

Contacts: Kelly Buday, Firethorn Phone: 1-678-978-5429 Email: kbuday@qualcomm.com Emily Kilpatrick, Qualcomm Corporate Communications Phone: 1-858-845-5959 Email: corpcomm@qualcomm.com John Gilbert, Qualcomm Investor Relations Phone: 1-858-658-4813 Email: ir@qualcomm.com

Firethorn Holdings, LLC; CU*Answers

CONTACT: Kelly Buday, Firethorn, +1-678-978-5429, kbuday@qualcomm.com,
or Emily Kilpatrick, Qualcomm Corporate Communications, +1-858-845-5959,
corpcomm@qualcomm.com, or John Gilbert, Qualcomm Investor Relations,
+1-858-658-4813, ir@qualcomm.com, all of Qualcomm

Web Site: http://www.firethornmobile.com/
http://www.cuanswers.com/

Masimo Reports Third Quarter 2009 Financial ResultsQ3 2009 Highlights: - Product revenues increased 14% to $75.1 million from $66.1 million in prior year - Rainbow revenues increased approximately 100% to $6.0 million from $3.0 million in prior year - Shipped 26,200 Masimo SET and Masimo Rainbow SET pulse oximetry units

IRVINE, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Masimo Corporation , the inventor of Pulse CO-Oximetry(TM) and Measure-Through Motion and Low-Perfusion pulse oximetry, today announced its financial results for the third quarter of 2009.

For the third quarter of 2009, Masimo reported product revenues of $75.1 million representing a 14% increase over $66.1 million for the third quarter of 2008. Including royalty revenues, Masimo reported total 2009 third quarter revenues of $87.4 million compared to $78.1 million for the third quarter of 2008. For the third quarter of 2009, Masimo reported earnings per share of $0.22 compared to $0.22 per share for the third quarter of 2008.

Masimo reported that it shipped 26,200 Masimo SET and Masimo Rainbow SET pulse oximetry units, excluding handheld units, during the third quarter of 2009, resulting in over 600,000 Masimo SET and Masimo Rainbow SET pulse oximeters in use worldwide. In the third quarter of 2009, revenues from Masimo Rainbow SET products increased to $6.0 million from $3.0 million in the same prior year quarter.

For the first nine months of 2009, Masimo reported product revenues of $219.7 million representing a 17% increase over $188.0 million for the first nine months of 2008. Including royalty revenues, Masimo reported total 2009 year to date revenues of $256.5 million compared to $224.0 million for the prior year period. For the first nine months of 2009, Masimo reported earnings per share of $0.65, up 20% from $0.54 per share for the first nine months of 2008.

Joe E. Kiani, Chairman and Chief Executive Officer of Masimo, said, "We are encouraged by the continuing growth of our business, especially during a period of historical economic turmoil. We are seeing great enthusiasm combined with solid growth for our latest innovation, Masimo Rainbow SET technology, which has ushered in new noninvasive measurements, including hemoglobin and carbon monoxide."

Masimo also reported that as of October 3, 2009, cash and cash equivalents totaled $174.7 million, up from $146.9 million at January 3, 2009.

Conference Call

Masimo will hold a conference call today at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results. The dial-in numbers are (888) 520-7182 for domestic callers and +1 (706) 679-9937 for international callers. The reservation number for both dial-in numbers is 35275093. A live web cast of the conference call will be available online from the "Investor Relations" page of the Company's corporate website at http://www.masimo.com/. After the live web cast, the call will remain available on Masimo's website through December 3, 2009. In addition, a telephonic replay of the call will be available until November 17, 2009. The replay dial-in numbers are (800) 642-1687 for domestic callers and +1 (706) 645-9291 for international callers. Please use reservation code 35275093.

About Masimo

Masimo develops innovative monitoring technologies that significantly improve patient care-helping solve "unsolvable" problems. In 1995, the company debuted Measure-Through Motion and Low-Perfusion pulse oximetry, known as Masimo SET®, which virtually eliminated false alarms and increased pulse oximetry's ability to detect life-threatening events. More than 100 independent and objective studies demonstrate Masimo SET provides the most reliable SpO2 and pulse rate measurements even under the most challenging clinical conditions, including patient motion and low peripheral perfusion. In 2005, Masimo introduced Masimo Rainbow SET® Pulse CO-Oximetry(TM), a breakthrough noninvasive blood constituent monitoring platform that can measure many blood constituents that previously required invasive procedures. Rainbow SET continuously and noninvasively measures total hemoglobin (SpHb(TM)), oxygen content (SpOC(TM)), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), and PVI®, in addition to oxyhemoglobin (SpO2), pulse rate (PR), and perfusion index (PI), allowing early detection and treatment of potentially life-threatening conditions. Founded in 1989, Masimo has the mission of "Improving Patient Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications." Additional information about Masimo and its products may be found at http://www.masimo.com/. Information on the company's website does not form part of this press release.

Forward-Looking Statements

All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements about: our financial condition, results of operations, prospects and business generally; and expectations regarding our ability to design and deliver innovative new noninvasive technologies. These forward-looking statements are based on management's current expectations and beliefs and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to: our dependence on Masimo SET and Masimo Rainbow SET products and technologies for substantially all of our revenue; any failure in protecting our intellectual property exposure to competitors' assertions of intellectual property claims; the highly competitive nature of the markets in which we sell our products and technologies; any failure to continue developing innovative products and technologies; the lack of acceptance of any new products and technologies of ours; obtaining regulatory approval of our current and future products and technologies, including the recently announced total hemoglobin measurement; the risk that the implementation of our international realignment will not produce the anticipated operational and financial benefits, including a continued lower effective tax rate; the loss of our customers the failure to retain and recruit senior management; product liability claims exposure; a failure to obtain expected returns from the amount of intangible assets we have recorded; the maintenance of our brand; the impact of the decline in the worldwide credit markets on us and our customers; the amount and type of equity awards that we may grant to employees and service providers in the future; and other factors discussed in the "Risk Factors" section of our most recent periodic reports filed with the Securities and Exchange Commission ("SEC"), which you may obtain for free on the SEC's website at http://www.sec.gov/. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Masimo Corporation Investor Contact: Mark P. de Raad Executive Vice President and Chief Financial Officer Masimo Corporation (949) 297-7080 mderaad@masimo.com Media Contact: Dana Banks Manager, Public Relations Masimo Corporation (949) 297-7348 dbanks@masimo.com

Masimo, SET, Signal Extraction Technology, Improving Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications, Rainbow, SpHb, SpCO, SpMet, PVI, Pulse CO-Oximetry and Pulse CO-Oximeter are trademarks or registered trademarks of Masimo Corporation.

MASIMO CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) October 3, January 3, 2009 2009 ---- ---- (Unaudited) ASSETS Current assets Cash and cash equivalents $174,686 $146,910 Accounts receivable, net of allowance for doubtful accounts 39,222 30,715 Royalties receivable 11,434 11,375 Inventories 31,254 27,400 Prepaid expenses 7,267 4,780 Deferred tax assets 10,511 10,511 Other current assets 793 551 --- --- Total current assets 275,167 232,242 Deferred cost of goods sold 27,600 28,431 Property and equipment, net 12,118 12,979 Deferred tax assets 8,817 8,781 Intangible assets, net 7,825 7,410 Other assets 4,462 3,505 ----- ----- Total assets $335,989 $293,348 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $13,806 $15,914 Accrued compensation 17,051 15,607 Accrued liabilities 7,168 5,566 Income taxes payable 890 10,862 Deferred revenue 17,314 17,233 Current portion of long-term debt 226 465 --- --- Total current liabilities 56,455 65,647 Long-term debt, less current portion 187 157 Other liabilities 8,667 8,046 ----- ----- Total liabilities 65,309 73,850 Stockholders' equity Common stock 58 57 Treasury stock (1,209) (1,209) Additional paid-in capital 190,832 179,666 Accumulated other comprehensive income (loss) 120 (7) Retained earnings 80,052 40,884 ------ ------ Total Masimo Corporation stockholders' equity 269,853 219,391 Noncontrolling interest 827 107 --- --- Total stockholders' equity 270,680 219,498 ------- ------- Total liabilities and stockholders' equity $335,989 $293,348 ======== ======== MASIMO CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in thousands, except share information) (unaudited) Three Months Ended Nine Months Ended ------------------ ----------------- October 3, September 27, October 3, September 27, 2009 2008 2009 2008 ---- ---- ---- ---- Revenue: Product $75,146 $66,125 $219,690 $187,954 Royalty 12,295 12,007 36,812 36,054 ------ ------ ------ ------ Total revenue 87,441 78,132 256,502 224,008 Cost of goods sold 25,198 22,393 73,517 64,917 ------ ------ ------ ------ Gross profit 62,243 55,739 182,985 159,091 Operating expenses: Research and development 7,742 6,020 22,761 18,298 Selling, general and administrative 33,476 29,167 99,122 89,062 Antitrust litigation 185 46 228 491 --- --- --- --- Total operating expenses 41,403 35,233 122,111 107,851 ------ ------ ------- ------- Operating income 20,840 20,506 60,874 51,240 Non-operating income (expense): Interest income 48 545 161 2,129 Interest expense (54) (19) (71) (722) Other 301 (413) 286 (235) --- ---- --- ---- Total non-operating income (expense) 295 113 376 1,172 --- --- --- ----- Income before provision for income taxes 21,135 20,619 61,250 52,412 Provision for income taxes 7,814 7,554 21,414 19,955 ----- ----- ------ ------ Net income including noncontrolling interest 13,321 13,065 39,836 32,457 Net income attributable to the noncontrolling interest (266) - (668) - ---- --- ---- --- Net income attributable to Masimo Corporation $13,055 $13,065 $39,168 $32,457 ======= ======= ======= ======= Net income per share attributable to Masimo Corporation stockholders: Basic $0.23 $0.23 $0.68 $0.58 ===== ===== ===== ===== Diluted $0.22 $0.22 $0.65 $0.54 ===== ===== ===== ===== The following table presents details of the share based compensation expense that is included in each functional line item in the condensed consolidated statements of income above (in thousands): Three Months Ended Nine Months Ended ------------------ ----------------- October 3, September 27, October 3, September 27, 2009 2008 2009 2008 ---- ---- ---- ---- Cost of goods sold $102 $55 $273 $159 Research and development 645 608 1,878 1,627 Selling, general and administrative $1,683 $1,328 $5,752 $3,952 MASIMO CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Nine Months Ended ----------------- October 3, September 27, 2009 2008 ---- ---- Cash flows from operating activities: Net income including noncontrolling interest $39,836 $32,457 Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities: Depreciation and amortization 4,512 4,226 Share based compensation 7,903 5,738 Loss on disposal of property and equipment 3 - Provision for doubtful accounts 682 20 Provision for obsolete inventory 346 1,175 Provision for warranty costs 1,582 1,085 Income tax benefit from exercise of stock options 1,403 14,488 Excess tax benefit from share based payment arrangements (185) (2,449) Changes in operating assets and liabilities: Increase in accounts receivable (9,377) (2,428) (Increase) decrease in royalties receivable (59) 2,491 Increase in inventories (4,233) (7,287) (Increase) decrease in deferred cost of goods sold 891 (797) Increase in prepaid expenses (2,407) (887) (Increase) decrease in other assets (1,165) 1,422 Decrease in accounts payable (2,124) (126) Increase in accrued compensation 1,191 882 Decrease in accrued liabilities (48) (1,397) Increase (decrease) in income taxes payable (9,781) 2,453 Increase (decrease) in deferred revenue (99) 1,516 Increase in other liabilities 833 65 --- --- Net cash provided by operating activities 29,704 52,647 ------ ------ Cash flows from investing activities: Purchases of property and equipment (2,889) (5,344) Increase in intangible assets (1,100) (2,195) Increase in restricted cash (15) - --- --- Net cash used in investing activities (4,004) (7,539) ------ ------ Cash flows from financing activities: Repayments on long-term debt (268) (30,310) Proceeds from issuance of common stock 1,834 8,477 Excess tax benefit from share based payment arrangements 185 2,449 Dividends paid - (13) --- --- Net cash provided by (used in) financing activities 1,751 (19,397) Effect of foreign currency exchange rates on cash 325 159 --- --- Net increase in cash and cash equivalents 27,776 25,870 Cash and cash equivalents at beginning of period 146,910 96,733 ------- ------ Cash and cash equivalents at end of period $174,686 $122,603 ======== ========

Masimo Corporation

CONTACT: Investors, Mark P. de Raad , Executive Vice President and Chief
Financial Officer, +1-949-297-7080, mderaad@masimo.com, or Media, Dana Banks,
Manager, Public Relations, +1-949-297-7348, dbanks@masimo.com, both of Masimo
Corporation

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

Global Axcess Corp Announces Third Quarter 2009 Financial Results- Net Income Increased 72% to $476,000 with EPS of $0.02 for Third Quarter 2009 - - Adjusted EBITDA Increased 5.4% to $3.6 Million for First Nine Months of 2009 -

JACKSONVILLE, Fla., Nov. 3 /PRNewswire-FirstCall/ -- Global Axcess Corp (OTC Bulletin Board: GAXC; the "Company"), an independent provider of self-service kiosk solutions, today announced the financial results for the third quarter and nine months ended September 30, 2009.

Financial Highlights for the Quarter Ended September 30, 2009 -- Gross margin increased to 47.5% from 43.4% in the same period last year. -- Income from continuing operations increased 17% to $623,300 from $532,700 in the same period last year. -- Interest expense decreased 42.4% to $147,300 from $255,900 in the same period last year primarily due to a decrease in debt balances and refinancing the debt to a lower interest rate. -- Net income increased 72% to $476,000 from $276,800 in the same period last year. Financial Highlights for Nine Months Ended September 30, 2009 -- Income from continuing operations increased 30% to $2.1 million from $1.6 million in the same period last year. -- Interest expense decreased 34.8% to $509,800 from $782,300 in the same period last year primarily due to a decrease in debt balances and refinancing the debt to a lower interest rate. -- Net cash provided by continuing operating activities increased 52.1% to $3.3 million compared to net cash provided by continuing operating activities of $2.1 million in the year-ago period. -- Adjusted EBITDA increased 5.4% to $3.6 million from $3.5 million in the year-ago period. -- Net income increased 34.6% to $1.1 million from $839,300 in the same period last year. Operational Highlights for the Quarter Ended September 30, 2009 -- Signed a new three-year contract, valued at more than $750,000 per year, with a national grocery chain that has 400 locations nationwide; the Company will install, maintain and conduct transaction processing for ATMs in 51 of their retail outlets. -- Signed a five-year contract, valued at more than $550,000 per year, with a new customer that is a regional convenience store chain in the Southeastern United States, for ATMs at 52 locations. -- Successful roll out of the Company's DVD rental kiosk initiative to 24 sites. Financial Results

The Company reported revenues from continuing operations of $5.3 million for the three-month period ended September 30, 2009 compared to $5.7 million for the three-month period ended September 30, 2008. This 6.0% decrease was partly due to lower transaction volumes during the summer months and elimination of lower profit ATM locations. The Company typically sees an increase in transaction activity during the summer months, but lower vacation travel and the slower economy reduced the positive seasonal impact. However, as the economy has improved, the Company has seen an increase in transaction volumes beyond the stable core levels, and October's activity surpassed the seasonally stronger June levels. Gross profit from continuing operations was $2.5 million, or 47.5% gross margin, for the third quarter 2009 compared to $2.5 million, or 43.4% gross margin, for the same period of 2008. The gross margin percentage increased 410 basis points in the year-over-year period primarily due to the decreased cost of revenues resulting from lower fuel costs, lower interest rates and reduced residual payments for the distributor's client account.

SG&A expenses were $1.4 million, or 25.7% of revenue, for the third quarter 2009 compared to $1.4 million, or 24.2% of revenue, for the same period in 2008. Depreciation and amortization expenses decreased to $505,700 from $522,200 for the same period in 2008. Operating income from continuing operations increased 17% to $623,300 for the quarter ended September 30, 2009 compared to $532,700 in the year-ago period. During the third quarter of 2009, the Company recorded net interest expense of $147,300 compared to net interest expense of $255,900 for the same period in 2008. The 42.4% decrease was mainly due to a decrease in debt balances and refinancing the debt to a lower interest rate. EBITDA (earnings before net interest, taxes, depreciation and amortization) for the third quarter of 2009 was $1.1 million, flat compared to the third quarter of 2008. Adjusted EBITDA (EBITDA before stock compensation expenses) increased to $1.2 million for the third quarter of 2009 from $1.1 million for the third quarter of 2008. EBITDA represents a non-GAAP (Generally Accepted Accounting Principles) financial measure. A table reconciling this measure to the appropriate GAAP measure is included in this release.

Net income for the third quarter ended September 30, 2009 increased 72% to $476,000, or $0.02 per share (based on 21.9 and 23.5 million basic and diluted weighted average shares outstanding, respectively), compared to net income of $276,800, or $0.01 per share (based on 21.0 million basic and diluted weighted average shares outstanding, respectively), for the same period of 2008.

Mr. George McQuain, Chief Executive Officer of the Company, stated, "This was another successful quarter for Global Axcess, marked by further increases in our profitability on all counts. This is a testament to our focus on long-term, sustainable profitability through our lean operating infrastructure demonstrating the scalability of our business. The positive bottom-line results for the quarter do not reflect any material contribution from the two agreements we announced during the quarter, or any contribution from our DVD kiosk initiative, currently in a pilot program stage. The two contracts we signed during the quarter, which in aggregate we expect to generate $1.3 million annually with the potential for follow-on business, are both expected to ramp during the fourth quarter and contribute significantly to our first quarter 2010 results. In addition, we are continuing to see interest from national and regional chains in our ATM services, and had substantive traffic and information requests following our participation in the National Association of Convenience Stores conference in Las Vegas. The Company has several proposals in the final stages of discussion and we are optimistic that we will announce agreements to further expand our ATM network in the coming months. We are moving to augment our marketing and sales teams to help us grow our top line and we are currently interviewing sales personnel."

Mr. McQuain continued, "In addition to our success on the ATM side of the business, we are simultaneously focused on adding additional services to accelerate our growth. Our goal is to leverage our ability to deploy, manage, maintain and process transactions from a wider range of self-service kiosks beyond the traditional ATM. Our DVD rental kiosks pilot program has been a success operationally. We are now focused on growing the rental traffic at the kiosks and are making various adjustments to better optimize the initiative. We remain excited about this opportunity but recognize that we have work to do to effectively deploy this solution on a broader scale. Interest in this offering at the National Association of Convenience Stores conference was tremendous, and we are building a robust database of potential locations should we expand this program during 2010."

For the nine-month period ended September 30, 2009, total revenue was $16.1 million, a decrease of $927,800, or 5.4%, compared to $17.0 million in the year-ago period. Gross profit for the nine-month period was $7.6 million, reflecting a gross margin of 47.5%, compared to gross profit of $7.4 million, reflecting a gross margin of 43.7%, for the comparable 2008 period. SG&A expenses for the nine-month period were $4.0 million or 24.8% of revenue compared to $4.0 million, or 23.4% of revenue for the prior-year period. Operating income from continuing operations for the nine-month period increased 30% to $2.1 million compared to $1.6 million in the year-ago period. Net income for the nine-month period ended September 30, 2009 increased 34.6% to $1.1 million, or $0.05 per share (based on 21.6 million basic and 22.4 million diluted weighted average shares outstanding, respectively) compared to net income for the comparable prior-year period of $839,300, or $0.04 per share (based on 21.0 million basic and diluted weighted average shares outstanding, respectively). EBITDA decreased to $3.1 million for the nine months ended September 30, 2009 from $3.3 million from the year-ago period. Adjusted EBITDA (EBITDA before stock compensation expenses and loss on early extinguishment of debt) increased 5.4% to $3.6 million for the nine months ended September 30, 2009 from $3.5 million in the year-ago period.

Net cash provided by continuing operating activities during the nine-month period ended September 30, 2009 was $3.3 million compared to net cash provided by continuing operating activities of $2.1 million in the year-ago period, representing a 52.1% increase year over year. Shareholders' equity increased 10.2% to $14.8 million from $13.5 million at December 31, 2008.

Michael J. Loiacono, Chief Financial Officer of the Company, stated, "Global Axcess was successful in expanding our profitability and significantly increasing our cash flow from continuing operations, despite a slight decrease in revenue. We expect further increases in our profitability and growing cash flows through careful expense management and the focus on higher margin sites and agreements. The growth in our ATM network, both from contracts already announced and potential new agreements should help us to grow our top line and accelerate our profitability."

Conference Call Information

The conference call will take place at 10 a.m. Eastern to discuss the Company's financial results for third quarter 2009. Anyone interested in participating should call (888) 609-5668 and enter pass code 1846282 if calling within the United States, or (913) 312-1516 and pass code 1846282 if calling internationally, approximately 5 to 10 minutes prior to 10 a.m. There will be a playback available until November 12, 2009. To listen to the playback, please call (888) 203-1112 if calling within the United States or (719) 457-0820 if calling internationally. Please use pass code 1846282 for the replay. A transcription of the call can be accessed at the Company's website at http://www.globalaxcess.biz/. The transcription will be available through February 4, 2010.

About Global Axcess Corp

Headquartered in Jacksonville, Florida, Global Axcess Corp was founded in 2001 with a mission to emerge as the leading independent provider of self-service kiosk services in the United States. The Company provides turnkey ATM and other self-service kiosk management solutions that include cash and inventory management, project and account management services. Global Axcess Corp currently owns, manages or operates over 4,500 ATMs and other self-service kiosks in its national network spanning 43 states. For more information on the Company, please visit http://www.globalaxcess.biz/.

This press release may contain forward-looking statements. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as: "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. Various important risks and uncertainties may cause the Company's actual results to differ materially from the results indicated by these forward-looking statements. For a list and description of the risks and uncertainties the Company faces, please refer to Part I, Item 1 of the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 3, 2009, and other filings that have been filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, and such statements are current only as of the date they are made.

- tables follow - GLOBAL AXCESS CORP AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Audited) September 30, 2009 December 31, 2008 ASSETS Current assets Cash and cash equivalents $1,898,483 $1,560,910 Automated teller machine vault cash 250,000 - Accounts receivable, net of allowance of $8,027 in 2009 and $9,799 in 2008 802,352 848,373 Inventory, net of allowance for obsolescence of $101,260 in 2009 and $54,033 in 2008 235,489 276,731 Deferred tax asset - current 615,332 615,332 Prepaid expenses and other current assets 118,382 164,968 Total current assets 3,920,038 3,466,314 Fixed assets, net 5,194,853 4,723,138 Other assets Merchant contracts, net 10,821,793 11,331,126 Intangible assets, net 4,090,923 4,118,426 Restricted cash 800,000 - Other assets 30,307 9,232 Total assets $24,857,914 $ 23,648,236 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $2,767,008 $2,527,396 Automated teller machine vault cash payable 250,000 - Notes payable - related parties - current portion, net 26,017 24,010 Notes payable - current portion 19,213 - Senior lenders' note payable - current portion, net 1,428,571 606,705 Capital lease obligations - current portion 704,791 779,990 Total current liabilities 5,195,600 3,938,101 Long-term liabilities Notes payable - related parties - long-term portion, net 1,294,016 1,304,595 Notes payable - long-term portion 78,336 - Senior lenders' note payable - long-term portion, net 2,857,143 4,240,086 Capital lease obligations - long-term portion 316,804 425,582 Deferred tax liability - long-term portion 275,532 275,532 Total liabilities 10,017,431 10,183,896 Stockholders' equity Preferred stock; $0.001 par value; 5,000,000 shares authorized, no shares issued and outstanding - - Common stock; $0.001 par value; 45,000,000 shares authorized, 21,021,786 shares issued and 21,883,924 and 20,973,924 shares outstanding 21,932 21,022 Additional paid-in capital 22,858,820 22,613,424 Accumulated deficit (8,028,303) (9,158,140) Treasury stock; 47,862 shares of common stock at cost (11,966) (11,966) Total stockholders' equity 14,840,483 13,464,340 Total liabilities and stockholders' equity $24,857,914 $23,648,236 GLOBAL AXCESS CORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended September 30, 2009 September 30, 2008 Revenues $5,314,857 $5,652,977 Cost of revenues 2,787,699 3,199,906 Gross profit 2,527,158 2,453,071 Operating expenses Depreciation expense 303,864 329,061 Amortization of intangible merchant contracts 201,790 193,173 Selling, general and administrative 1,367,182 1,367,572 Stock compensation expense 30,979 30,540 Total operating expenses 1,903,815 1,920,346 Operating income from continuing operations before items shown below 623,343 532,725 Interest expense, net (147,299) (255,900) Net Income $476,044 $276,825 Income per common share - basic: Net Income per common share $0.02 $0.01 Income per common share - diluted: Net Income per common share $0.02 $0.01 Weighted average common shares outstanding: Basic 21,883,924 20,973,924 Diluted 23,471,284 21,043,567 GLOBAL AXCESS CORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Nine Months Ended September 30, 2009 September 30, 2008 Revenues $16,098,699 $17,026,465 Cost of revenues 8,457,522 9,578,552 Gross profit 7,641,177 7,447,913 Operating expenses Depreciation expense 863,206 1,108,318 Amortization of intangible merchant contracts 590,474 577,502 Selling, general and administrative 3,994,416 3,987,978 Stock compensation expense 86,064 152,564 Total operating expenses 5,534,160 5,826,362 Operating income from continuing operations before items shown below 2,107,017 1,621,551 Interest expense, net (509,789) (782,281) Loss on early extinguishment of debt (467,391) - Net Income $1,129,837 $839,270 Income per common share - basic: Net Income per common share $0.05 $0.04 Income per common share - diluted: Net Income per common share $0.05 $0.04 Weighted average common shares outstanding: Basic 21,579,475 20,973,924 Diluted 22,442,190 20,998,495 GLOBAL AXCESS CORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Nine Months Ended September 30, 2009 September 30, 2008 Cash flows from operating activities: Income from continuing operations $1,129,837 $839,270 Adjustments to reconcile net income from continuing operations to net cash provided by continuing operating activities: Stock based compensation 86,064 152,564 Stock options issued to consultants in lieu of cash compensation 16,063 - Loss on early extinguishment of debt 467,391 - Depreciation expense 863,206 1,108,318 Amortization of intangible merchant contracts 590,474 577,502 Amortization of capitalized loan fees 21,706 34,824 Allowance for doubtful accounts (1,707) (13,220) Allowance for inventory obsolescence 47,227 - Non-cash interest expense (income) on swap agreement with senior lender (7,921) 14,300 Accretion of discount on notes payable 47,211 124,491 Changes in operating assets and liabilities: Change in automated teller machine vault cash (250,000) - Change in accounts receivable 47,728 (47,197) Change in inventory (247,818) 24,097 Change in prepaid expenses and other current assets 40,186 (10,735) Change in other assets (21,075) 5,907 Change in intangible assets, net (70,696) 633 Change in accounts payable and accrued liabilities 247,533 (671,047) Change in automated teller machine vault cash payable 250,000 - Net cash provided by continuing operating activities 3,255,409 2,139,707 Cash flows from investing activities: Costs of acquiring merchant contracts (81,141) (39,483) Purchase of property and equipment (628,365) (178,725) Net cash used in investing activities (709,506) (218,208) Cash flows from financing activities: Proceeds from issuance of common stock 9,100 - Proceeds from senior lenders' notes payable 5,000,000 39,028 Proceeds from notes payable 69,905 - Change in restricted cash (800,000) - Principal payments on senior lenders' notes payable (5,814,286) (552,658) Principal payments on notes payable (7,208) (25,000) Principal payments on notes payable - related parties (17,139) (15,299) Principal payments on capital lease obligations (648,702) (779,993) Net cash used in financing activities (2,208,330) (1,333,922) Increase in cash 337,573 587,577 Cash, beginning of period 1,560,910 540,161 Cash, end of the period $1,898,483 $1,127,738 Cash paid for interest $447,764 $603,579 The following table sets forth a reconciliation of net income from continuing operations to EBITDA from continuing operations for the three months ended September 30, 2009 and 2008: For the Three Months Ended September 30, 2009 September 30, 2008 Net income from continuing operations $476,044 $276,825 Interest expense, net 147,299 255,900 Depreciation expense 303,864 329,061 Amortization of intangible merchant contracts 201,790 193,173 EBITDA from continuing operations $1,128,997 $1,054,959 The following table sets forth a reconciliation of net income from continuing operations to EBITDA from continuing operations before stock compensation expense and loss on early extinguishment of debt ("Adjusted EBITDA") for the three months ended September 30, 2009 and 2008: For the Three Months Ended September 30, 2009 September 30, 2008 Net income from continuing operations $476,044 $276,825 Interest expense, net 147,299 255,900 Depreciation expense 303,864 329,061 Amortization of intangible merchant contracts 201,790 193,173 Stock compensation expense 30,979 30,540 Adjusted EBITDA $1,159,976 $1,085,499 The following table sets forth a reconciliation of net income from continuing operations to EBITDA from continuing operations for the nine months ended September 30, 2009 and 2008: For the Nine Months Ended September 30, 2009 September 30, 2008 Net income from continuing Operations $1,129,837 $839,270 Interest expense, net 509,789 782,281 Depreciation expense 863,206 1,108,318 Amortization of intangible merchant contracts 590,474 577,502 EBITDA from continuing operations $3,093,306 $3,307,371 The following table sets forth a reconciliation of net income from continuing operations to EBITDA from continuing operations before stock compensation expense and loss on early extinguishment of debt ("Adjusted EBITDA") for the nine months ended September 30, 2009 and 2008: For the Nine Months Ended September 30, 2009 September 30, 2008 Net income from continuing Operations $1,129,837 $839,270 Interest expense, net 509,789 782,281 Depreciation expense 863,206 1,108,318 Amortization of intangible merchant contracts 590,474 577,502 Stock compensation expense 86,064 152,564 Loss on early extinguishment of debt 467,391 - Adjusted EBITDA $3,646,761 $3,459,935

Global Axcess Corp

CONTACT: Investor Relations, Sharon Jackson of Global Axcess Corp,
+1-904-395-1149, IR@GAXC.biz; or Brett Maas, Brett@haydenir.com, or Jeff
Stanlis, Jeff@haydenir.com, both of Hayden IR, +1-646-536-7331, for Global
Axcess Corp

Web Site: http://www.globalaxcess.biz/

Overstock.com Reports Q3 2009 Results

SALT LAKE CITY, Nov. 3 /PRNewswire-FirstCall/ -- Overstock.com, Inc. today reported financial results for the quarter ended September 30, 2009.

Key Q3 2009 metrics (comparison to Q3 2008): -- Revenue: $195.1M vs. $186.9M (4% increase); -- Gross margin: 19.3% vs. 17.2% (210 basis point improvement); -- Gross profit: $37.7M vs. $32.1M (17% increase); -- Sales and marketing expense: $12.2M vs. $11.9M (2% increase); -- Contribution (non-GAAP measure): $25.5M vs. $20.2M (26% increase); -- G&A/Technology expense: $25.6M vs. $24.4M (5% increase); -- Net loss: $(787,000) vs. $(1.6)M (50% decrease in net loss); -- EPS: $(0.03)/share vs. $(0.07)/share ($0.04/share improvement); and -- Adjusted EBITDA (TTM) (non-GAAP financial measure): $19.7M vs. $4.7M ($15.0M improvement). Dear Owner:

We saw our financial results improve versus Q3 2008. Revenue growth turned positive and Contribution dollars are up 26% over last year due to higher gross profit and a more efficient marketing spend. Our net loss has narrowed to 0.4% of revenue. For the first nine months of 2009, our net loss is $2.5 million, an $11.2 million improvement over the same period last year.

As we move into our peak selling season, our inventory is good and we are well positioned to deliver great deals to the cost conscious consumer.

As previously announced, we have received a notice from the Securities and Exchange Commission stating that the SEC is conducting an investigation concerning our previously-announced financial restatements of 2006 and 2008 and other matters. The subpoena accompanying the notice covers documents related to the restatements and also to our billings to our partners in the fourth quarter of 2008 and related collections, and our accounting for and implementation of software relating to our accounting for customer refunds and credits, including offsets to partners, and related matters. We have been and will continue to cooperate fully with the investigation. In addition, we have received a comment letter from the SEC's Division of Corporation Finance regarding our 2008 Form 10-K/A and June 30, 2009 Form 10-Q. We have responded to the comment letter, but have not yet resolved all of the staff's comments.

I look forward to discussing your business with you on our conference call, and until then, I remain,

Your humble servant, Patrick M. Byrne

P.S. Please email questions to Kevin Moon at kmoon@overstock.com prior to the conference call.

Key financial and operating metrics discussion:

Total revenue -- Total revenue for the three months ended September 30, 2009 and 2008 was $195.1 million and $186.9 million, respectively, a 4% increase. For the nine months ended September 30, 2009 and 2008, total revenue decreased 3% to $558.6 million from $578.5 million.

Gross profit -- Gross profit for the three months ended September 30, 2009 and 2008 was $37.7 million and $32.1 million, respectively, a 17% increase, representing 19.3% and 17.2% of total revenue for those respective periods. For the nine months ended September 30, 2009 and 2008, gross profit was $111.3 million and $99.3 million, respectively, a 12% improvement, representing 19.9% and 17.2% of total revenue for those respective periods.

For the nine months ended September 30, 2009, we reduced total Cost of goods sold by $1.7 million due to recoveries from partners who were underbilled in 2008 for certain fees and charges, and for a refund of overbillings by a freight carrier for charges from the fourth quarter of 2008. These recoveries accounted for 31 basis points of the 270 basis point improvement in gross profit from the nine months ended September 30, 2008. Without this reduction, gross profit for the nine months ended September 30, 2009 would be $109.5 million (19.6% as a percentage of total revenue), a 10% increase from the nine months ended September 30, 2008 rather than the 12% increase described above. In the third quarter of 2009, we recognized $117,000 of recoveries from partners and a freight carrier for charges related to 2008.

In September 2009, we executed a new supplier agreement with a majority of our fulfillment partners with the goal to better manage costs related to product returns. The impact of this change resulted in a reduction of Cost of goods sold related to our fulfillment partner business of approximately $350,000 in Q3 2009.

Contribution (a non-GAAP financial measure) and Contribution margin (a non-GAAP financial measure) -- Contribution for the three months ended September 30, 2009 and 2008 was $25.5 million (13.1% Contribution margin) and $20.2 million (10.8% Contribution margin), respectively, a 26% increase in Contribution, or a 230 basis point improvement in Contribution margin, when compared to the same period in the prior year. For the nine months ended September 30, 2009 and 2008, Contribution was $74.4 million (13.3% Contribution margin) and $58.1 million (10.0% Contribution margin), respectively, a 28% increase, or a 330 basis point increase when compared to the same period in the prior year.

Contribution (a non-GAAP financial measure) (which we reconcile to "Gross profit" in our statement of operations) consists of gross profit less sales and marketing expense and reflects an additional way of viewing our results. Contribution Margin is Contribution as a percentage of revenues. When viewed with our GAAP gross profit less sales and marketing expenses, we believe Contribution and Contribution margin provide management and users of the financial statements information about our ability to cover our operating costs, such as technology and general and administrative expenses. Contribution and Contribution Margin are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. You should review our financial statements and publicly-filed reports in their entirety and not rely on any single financial measure. The material limitation associated with the use of Contribution is that it is an incomplete measure of profitability as it does not include all operating expenses or non-operating income and expenses. Management compensates for these limitations when using this measure by looking at other GAAP measures, such as operating income (loss) and net income (loss).

For further details on Contribution, see the calculation of this non-GAAP financial measure below (in thousands):

Three months ended Nine months ended September 30, September 30, ------------- ------------- 2008 2009 2008 2009 ---- ---- ---- ---- Total revenue $186,855 $195,081 $578,505 $558,591 Cost of goods sold 154,736 157,412 479,206 447,323 ------- ------- ------- ------- Gross profit 32,119 37,669 99,299 111,268 Less: Sales and marketing expense 11,934 12,187 41,197 36,849 ------ ------ ------ ------ Contribution $20,185 $25,482 $58,102 $74,419 ------- ------- ------- ------- Contribution margin 10.8% 13.1% 10.0% 13.3%

Sales and marketing expenses -- Sales and marketing expenses totaled $12.2 million and $11.9 million for the three month periods ended September 30, 2009 and 2008, respectively, representing 6.2% and 6.4% of total net revenue for those respective periods. Comparing the third quarter of 2009 with the same quarter of 2008, sales and marketing expenses increased 2%. For the nine month periods ended September 30, 2009 and 2008, sales and marketing expenses decreased 11% to $36.8 million in 2009 from $41.2 million in 2008, representing 6.6% and 7.1% of total revenue for those respective periods. The decrease in sales and marketing costs was primarily due to more efficient marketing spending in 2009.

Technology expenses -- Technology expenses totaled $12.4 million and $14.1 million for the third quarters of 2009 and 2008, representing 6.4% and 7.6% of revenue for the third quarters of 2009 and 2008, respectively. Comparing the third quarter of 2009 to the third quarter of 2008, technology expenses decreased 12% primarily due to decreased depreciation expense for technology equipment and software development of approximately $2.7 million, which was partially offset by an increase in compensation of approximately $1.5 million related to an increase in technology staff.

For the nine month periods ended September 30, 2009 and 2008, technology expenses totaled $38.9 million and $43.9 million, respectively, representing 7.0% and 7.6% of total revenue for those respective periods, a decrease of 12%. The decrease is primarily due to a $10.3 million decrease in expenses related to depreciation of technology equipment and software development and the expiration of an operating lease in Q2 of 2008 which was not renewed, which was partially offset by an increase in compensation of approximately $5.0 million related to an increase in technology staff.

General and administrative ("G&A") expenses -- G&A expenses totaled $13.2 million and $10.3 million for the three months ended September 30, 2009 and 2008, respectively, 6.8% and 5.5% of total revenue for those respective periods. The $2.9 million increase in G&A expenses for the three month period ended September 30, 2009 compared to the same period in 2008 is primarily attributable to an increase in compensation expense of approximately $1.9 million related to an increase in general and administrative staff, and an increase in legal expense of approximately $1.6 million; which was partially offset as we recognized a reduction of legal expense of $683,000 from a $2.75 million settlement payment discussed below.

For the nine month periods ended September 30, 2009 and 2008, G&A expenses totaled $38.8 million and $30.8 million, representing 7.0% and 5.3% of total revenue for both periods, respectively. The increase of $8.1 million in G&A expenses, which represents an increase of 26% for the nine month period ended September 30, 2009 compared to the same period in 2008 is primarily due to an increase in compensation expense of approximately $5.9 million related to an increase in general and administrative staff, which includes expense of $1.25 million related to termination of a consulting arrangement with Icent LLC. Icent LLC's chief executive officer is James V. Joyce, who resigned from his position as a member of the Board of Directors on April 1, 2009.

The increase in G&A expenses is also related to additional facilities expenses relating to a new customer service center in the first part of 2009, increased moving related expenses and an increase of legal expenses of approximately $2.0 million during the nine month period ended September 30, 2009 compared to the same period of 2008; we incurred $4.2 million in legal expense for the nine months ended September 30, 2009 compared to $2.9 million of legal expense in the same period of 2008, which was partially offset as we recognized a reduction of legal expense of $1.9 million from a $2.75 million payment that we received from an insurer in the settlement of a dispute regarding insurance coverage of a legal matter. The remaining balance of $859,000 is recorded in accrued liabilities at September 30, 2009 in the accompanying Consolidated Balance Sheets. Our future recognition of amounts from the remaining balance is subject to a number of contingencies, including our incurring further related legal fees.

Restructuring -- During the nine months ended September 30, 2009, we reduced our accrued restructuring liability by $218,000 as a result of our subleasing office space in our corporate headquarters earlier than originally anticipated.

Operating loss -- Operating loss for the three months ended September 30, 2009 was $(154,000) compared to operating loss of $(4.3) million for the three months ended September 30, 2008, a $4.1 million improvement. For the nine months ended September 30, 2009 and 2008, operating losses were $(3.1) million and $(16.6) million, respectively, a $13.5 million improvement.

Other income (expense) -- Other income of $3.0 million for the nine months ended September 30, 2009, was due primarily to gains from the early extinguishment of some of our 3.75% Convertible Senior Notes ("Senior Notes"). During the three months ended June 30, 2009, we retired $2.5 million of our Senior Notes and recorded an $884,000 gain, net of amortization of debt discount of $29,000. This was in addition to the $4.9 million of Senior Notes that were retired during the first quarter of 2009 when we recorded a $1.9 million gain, net of amortization of debt discount of $63,000. We did not retire any of our Senior Notes during the three months ended September 30, 2009.

Net loss -- Net loss for the three months ended September 30, 2009 was $(787,000), or $(0.03) per common share, compared to a net loss of $(1.6) million, or $(0.07) per common share for the three months ended September 30, 2008. For the nine months ended September 30, 2009 and 2008, net losses were $(2.5) million and $(13.7) million, respectively, or $(0.11) and $(0.60) loss per common share for those periods, respectively.

Adjusted EBITDA -- Adjusted EBITDA (a non-GAAP financial measure) for the three months ended September 30, 2009 and 2008 was $3.8 million and $2.2 million, respectively. For the twelve months ended September 30, 2009 and 2008, Adjusted EBITDA was $19.7 million and $4.7 million, respectively.

Adjusted EBITDA (a non-GAAP financial measure) (which we reconcile to "Net loss" in our statement of operations) consists of earnings before interest, taxes, depreciation, amortization, stock-based compensation, other income (expense) and discontinued operations. Adjusted EBITDA is used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Adjusted EBITDA reflects an additional way of viewing our results that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our results. You should review our financial statements and publicly-filed reports in their entirety and not rely on any single financial measure.

We believe that discussing Adjusted EBITDA at this stage of our business is useful to us and to financial statement users, as Adjusted EBITDA is a reasonable measure of the continuing operations of our business. As we made significant investments in our infrastructure during 2005 and 2006 through large capital expenditures, the result was increased depreciation expense in our income statement. Therefore, in addition to net income or loss, which includes recurring non-cash expenses such as depreciation, amortization and stock-based compensation, we use adjusted EBITDA, which excludes all non-cash expenses, as a measurement of cash generated by the business. We use Adjusted EBITDA to demonstrate the difference between our GAAP net losses and actual cash being used or generated by the business. The Adjusted EBITDA measurement also excludes non-operating income or expenses and discontinued operations, as we use it to measure only cash generated by the continuing operations of the business. We also believe that our Adjusted EBITDA measure is consistent with similar EBITDA measures used by other companies in our industry and measures used by industry analysts in comparing companies within our industry.

The material limitation associated with the use of Adjusted EBITDA is that it does not address the potential impact on cash from changes in balance sheet accounts, or from cash used for investing activities such as capital expenditures, and therefore does not demonstrate the overall change in cash position or liquidity of the business as a whole. Management compensates for these limitations when using this measure by looking at other GAAP and non-GAAP measures, such as the consolidated statement of cash flows, free cash flow, and working capital, in conjunction with Adjusted EBITDA, when evaluating the overall cash picture of the business. We also look at net income in conjunction with Adjusted EBITDA in evaluating overall company performance, with the overall goal of attaining GAAP net income/earnings.

Our calculation of Adjusted EBITDA is set forth below (in thousands): Three months Twelve months ended ended September 30, September 30, ------------- ------------- 2008 2009 2008 2009 ---- ---- ---- ---- Net loss $(1,589) $(787) $(20,142) $(1,483) Add back amounts for computation of Adjusted EBITDA: Depreciation and amortization, including internal-use software and website development, and other amortization 5,580 2,946 24,634 14,816 Stock-based compensation expense to employees and directors 990 835 4,378 3,339 Stock-based compensation to consultants for services (134) - 90 88 Stock-based compensation related to performance share plan - - (600) (1,300) Issuance of common stock from treasury for 401(k) matching contribution - 185 (415) 185 Interest income (664) (11) (398) (616) Interest expense 847 941 - 3,376 Other (income) expense, net (2,849) (297) (2,849) 1,310 ------ ---- ------ ----- Adjusted EBITDA $2,181 $3,812 $4,698 $19,715 ====== ====== ====== =======

Free cash flow (a non-GAAP financial measure) -- Free cash flow for the three months ended September 30, 2009 and 2008 totaled $9.5 million and $(9.1) million, respectively. For the twelve months ended September 30, 2009 and 2008, Free cash flow was $13.3 million and $(805,000).

Free cash flow reflects an additional way of viewing our cash flows and liquidity that, when viewed with our GAAP results, provides a more complete understanding of factors and trends affecting our cash flows and liquidity. Free cash flow, which we reconcile to "Net cash provided by (used in) operating activities," is cash flow from operations reduced by "Expenditures for fixed assets, including internal-use software and website development." Although we believe that cash flow from operating activities is an important measure, since it includes both the cash impact of the continuing operations of the business and changes in the balance sheet that impact cash, we believe free cash flow is a useful measure to evaluate our business since purchases of fixed assets are a necessary component of ongoing operations. Therefore, we believe it is important to view free cash flow as a complement to our entire consolidated statements of cash flows.

Our calculation of Free cash flow is set forth below (in thousands): Three months Twelve months ended ended September 30, September 30, ------------- ------------- 2008 2009 2008 2009 ---- ---- ---- ---- Net cash provided by (used in) operating activities $(275) $11,980 $14,864 $22,693 Expenditures for fixed assets, including internal-use software and website development (8,809) (2,486) (15,669) (9,441) ------ ------ ------- ------ Free cash flow $(9,084) $9,494 $(805) $13,252 ======= ====== ===== =======

Cash and working capital -- At September 30, 2009, Overstock.com had Cash and cash equivalents of $79.1 million. Working capital was $34.1 million and $39.7 million at September 30, 2009, and December 31, 2008, respectively. The decrease in our working capital is primarily related to the retirement of our Senior Notes during the first six months of 2009.

About Overstock.com

Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/. Overstock.com regularly posts information about the company and other related matters on its website under the heading "Investor Relations."

Overstock.com® is a registered trademark of Overstock.com, Inc. Any other trademarks are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including statements regarding our ability to provide deals to our customers, our future cooperation with the SEC and resolving the SEC staff's concerns in the normal course. Our Form 10-K/A for the year ended December 31, 2008, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.

Overstock.com, Inc. Consolidated Statements of Operations (unaudited) (in thousands, except per share amounts) Three months ended Nine months ended September 30, September 30, -------------- -------------- 2008 2009 2008 2009 ---- ---- ---- ---- Revenue, net Direct $34,176 $32,369 $125,771 $96,216 Fulfillment partner 152,679 162,712 452,734 462,375 ------- ------- ------- ------- Total net revenue 186,855 195,081 578,505 558,591 ------- ------- ------- ------- Cost of goods sold Direct 30,633 28,453 110,307 82,657 Fulfillment partner 124,103 128,959 368,899 364,666 ------- ------- ------- ------- Total cost of goods sold 154,736 157,412 479,206 447,323 ------- ------- ------- ------- Gross profit 32,119 37,669 99,299 111,268 ------ ------ ------ ------- Operating expenses: Sales and marketing 11,934 12,187 41,197 36,849 Technology 14,119 12,445 43,946 38,883 General and administrative 10,321 13,191 30,751 38,849 Restructuring - - - (218) --- --- --- ---- Total operating expenses 36,374 37,823 115,894 114,363 ------ ------ ------- ------- Operating loss (4,255) (154) (16,595) (3,095) Interest income 664 11 2,708 161 Interest expense (847) (941) (2,636) (2,550) Other income, net 2,849 297 2,851 2,987 ----- --- ----- ----- Net loss $(1,589) $(787) $(13,672) $(2,497) ------- ----- -------- ------- Net loss per common share - basic and diluted $(0.07) $(0.03) $(0.60) $(0.11) Weighted average common shares outstanding - basic and diluted 22,768 22,824 22,954 22,815 Other data: Gross bookings (in 000s) $204,656 $212,793 $630,561 $609,213 Auction gross merchandise volume (in 000s) $2,530 $2,351 $7,105 $10,782 Average customer acquisition cost (shopping) $21.82 $18.21 $24.83 $20.09 Overstock.com, Inc. Consolidated Balance Sheets (in thousands) December 31, September 30, 2008 2009 ---- ---- Assets (unaudited) Current assets: Cash and cash equivalents $100,577 $79,111 Marketable securities 8,989 - ----- --- Cash, cash equivalents and marketable securities 109,566 79,111 Accounts receivable, net 6,985 8,589 Notes receivable 1,250 - Inventories, net 17,723 17,532 Prepaid inventory, net 761 3,616 Prepaid expense 9,694 10,192 ----- ------ Total current assets 145,979 119,040 Fixed assets, net 23,144 20,536 Goodwill 2,784 2,784 Other long-term assets, net 538 2,015 --- ----- Total assets $172,445 $144,375 -------- -------- Liabilities and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $62,120 $36,238 Accrued liabilities 25,154 29,034 Deferred revenue 19,026 19,192 Capital lease obligations, current - 491 --- --- Total current liabilities 106,300 84,955 Other long-term liabilities 2,572 2,226 Capital lease obligations, non-current - 892 Convertible senior notes, net 66,558 59,398 ------ ------ Total liabilities 175,430 147,471 ------- ------- Redeemable common stock - 705 Stockholders' equity (deficit): Common stock 2 2 Additional paid-in capital 338,620 340,497 Accumulated deficit (264,985) (267,734) Treasury stock (76,670) (76,566) Accumulated other comprehensive income 48 - --- --- Total stockholders' deficit (2,985) (3,801) ------ ------ Total liabilities and stockholders' deficit $172,445 $144,375 -------- -------- Overstock.com, Inc. Consolidated Statements of Cash Flows (unaudited) (in thousands) Three months Nine months ended ended September 30, September 30, ------------- ------------- 2008 2009 2008 2009 ---- ---- ---- ---- Cash flows from operating activities: Net loss $(1,589) $(787) $(13,672) $(2,497) Adjustments to reconcile net loss to cash provided by (used in) operating activities: Depreciation and amortization, including internal-use software and website development 5,580 2,946 17,964 10,113 Realized loss on marketable securities - - - 39 Loss on settlement of notes receivable - - - - Loss on disposition of fixed assets - - - 184 Stock-based compensation to employees and directors 990 835 3,242 2,559 Stock-based compensation to consultants for services (134) - 181 10 Stock-based compensation relating to performance share plan - - 300 - Issuance of common stock from treasury for 401(k) matching contribution - 185 19 185 Amortization of debt discount 85 125 257 270 Gain from early extinguishment of debt (2,849) - (2,849) (2,810) Restructuring charges - - - (218) Notes receivable accretion (136) - (408) - Changes in operating assets and liabilities Accounts receivable, net (104) (850) 1,127 (2,604) Inventories, net (3,445) (5,509) 8,162 191 Prepaid inventory, net (1,904) (1,710) (980) (2,855) Prepaid expenses (454) 1,668 (3,363) (670) Other long-term assets, net - 377 - (80) Accounts payable 3,442 9,187 (35,699) (25,882) Accrued liabilities 1,109 3,833 (11,524) 3,762 Deferred revenue (533) 1,922 (3,235) 166 Other long-term liabilities (333) (242) (392) - ---- ---- ---- --- Net cash provided by (used in) operating activities (275) 11,980 (40,870) (20,137) ---- ------ ------- ------- Cash flows from investing activities: Purchases of marketable securities (10,186) - (35,548) - Maturities of marketable securities 13,298 - 54,637 - Sales of marketable securities prior to maturity - - - 8,902 Expenditures for fixed assets, including internal-use software and website development (8,809) (2,486) (15,258) (6,009) Collection of note receivable 250 - 1,506 1,250 --- --- ----- ----- Net cash provided by (used in) investing activities (5,447) (2,486) 5,337 4,143 ------ ------ ----- ----- Cash flows from financing activities: Payments on capital lease obligations - (151) (3,796) (579) Drawdowns on line of credit 1,326 - 7,722 1,612 Paydowns on line of credit (1,326) - (7,722) (1,612) Payments to retire convertible senior notes (6,550) - (6,550) (4,563) Purchase of treasury stock (1,452) - (13,452) (333) Exercise of stock options 547 3 1,471 3 --- --- ----- --- Net cash (used in) financing activities (7,455) (148) (22,327) (5,472) ------ ---- ------- ------ Effect of exchange rate changes on cash 23 - (9) - Net increase (decrease) in cash and cash equivalents (13,154) 9,346 (57,869) (21,466) Cash and cash equivalents, beginning of period 56,679 69,765 101,394 100,577 ------ ------ ------- ------- Cash and cash equivalents, end of period $43,525 $79,111 $43,525 $79,111 ------- ------- ------- ------- Twelve months ended September 30, ------------- 2008 2009 ---- ---- Cash flows from operating activities: Net loss $(20,142) $(1,483) Adjustments to reconcile net loss to cash provided by (used in) operating activities: Depreciation and amortization, including internal-use software and website development 24,634 14,816 Realized loss on marketable securities - 373 Loss on settlement of notes receivable - 3,929 Loss on disposition of fixed assets - 324 Stock-based compensation to employees and directors 4,378 3,339 Stock-based compensation to consultants for services 90 88 Stock-based compensation relating to performance share plan (600) (1,300) Issuance of common stock from treasury for 401(k) matching contribution (415) 185 Amortization of debt discount 343 347 Gain from early extinguishment of debt (2,849) (2,810) Restructuring charges - (218) Notes receivable accretion (544) (137) Changes in operating assets and liabilities Accounts receivable, net (1,806) 1,038 Inventories, net 6,237 (51) Prepaid inventory, net 451 302 Prepaid expenses (678) 571 Other long-term assets, net 105 (596) Accounts payable 2,349 1,579 Accrued liabilities 2,176 3,005 Deferred revenue 1,606 (538) Other long-term liabilities (471) (70) ---- --- Net cash provided by (used in) operating activities 14,864 22,693 ------ ------ Cash flows from investing activities: Purchases of marketable securities (81,601) - Maturities of marketable securities 71,571 9,905 Sales of marketable securities prior to maturity - 16,642 Expenditures for fixed assets, including internal-use software and website development (15,669) (9,441) Collection of note receivable 1,506 1,250 ----- ----- Net cash provided by (used in) investing activities (24,193) 18,356 ------- ------ Cash flows from financing activities: Payments on capital lease obligations (3,801) (579) Drawdowns on line of credit 8,976 6,853 Paydowns on line of credit (8,976) (6,853) Payments to retire convertible senior notes (6,550) (4,563) Purchase of treasury stock (13,452) (333) Exercise of stock options 2,519 3 ----- --- Net cash (used in) financing activities (21,284) (5,472) ------- ------ Effect of exchange rate changes on cash (7) 9 Net increase (decrease) in cash and cash equivalents (30,620) 35,586 Cash and cash equivalents, beginning of period 74,145 43,525 ------ ------ Cash and cash equivalents, end of period $43,525 $79,111 ------- -------

Overstock.com, Inc.

CONTACT: media, Roger Johnson, +1-801-947-4430, rojohnson@overstock.com,
or investors, Kevin Moon, +1-801-947-3282, kmoon@overstock.com, both of
Overstock.com, Inc.

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

Maxwell Technologies Reports 3rd Quarter Financial ResultsUltracapacitor Sales Up 38%, Total Revenue Up 22% vs. Q3 2008 CONFERENCE CALL & WEBCAST AT 5 P.M. (EST) TODAY - DETAILS BELOW

SAN DIEGO, Nov. 3 /PRNewswire-FirstCall/ -- Maxwell Technologies, Inc. today reported revenue of $26.1 million for its third quarter ended September 30, 2009, up 22 percent over the $21.4 million recorded in the same period in 2008. Operating loss for the third quarter 2009 was $1.7 million, compared with $4.0 million in the same period last year. Net loss for Q309 was $4.6 million, or $0.18 per share, including a non-cash charge of $2.8 million, or $0.11 per share, reflecting a quarterly "mark-to-market" valuation of conversion features and warrants associated with convertible debentures issued in 2005. That compares with a net loss of $5.7 million, or $0.27 per share, including a non-cash charge of $1.0 million, or $0.05 per share for the conversion feature valuation in Q308.

Third quarter BOOSTCAP® ultracapacitor sales increased by 38 percent to $10.5 million, compared with $7.6 million for the same period last year. Sales of high voltage capacitor and microelectronics products also continued to grow, combining for Q309 revenue of $15.6 million, up 13 percent from the $13.8 million recorded in Q308.

"Continuing shipments to fulfill purchase orders totaling $13.5 million that we received in April from three leading Chinese bus producers for 48-volt ultracapacitor modules to support braking energy recuperation and torque assist systems in diesel-electric hybrid transit buses helped to drive another strong quarter for ultracapacitor sales," said David Schramm, Maxwell's president and chief executive officer. "That sales volume, along with significant ongoing manufacturing cost reductions for ultracapacitor products, enabled the company to generate positive cash flow from operations for the second consecutive quarter."

"Primary markets for our products, such as public transportation, renewable energy, electric utility infrastructure and aerospace continue to be stable," Schramm added. "Sales are up more than 27 percent and operating results have shown significant improvement compared with the first three quarters of 2008. We expect sequential sales growth and additional operating results improvement in the fourth quarter, capping a year of solid progress."

Other significant recent developments include: -- Selection of Maxwell's BOOSTCAP ultracapacitors by Continental AG, one of the world's leading automotive electronics and mechatronics suppliers, as the energy storage element of a voltage stabilization and stop-start fuel efficiency system that Continental has developed for automobiles. -- Introduction of an enhanced version of Maxwell's PC-10 ultracapacitor product, incorporating proprietary electrode to ensure the reliability of backup power in enterprise storage, power wireless transmitters in smart utility meters and support other industrial applications.

Q309 gross margin was 38 percent, compared with 29 percent in Q308. Operating expenses totaled approximately $11.6 million, or 45 percent of revenue in Q309, compared with $10.1 million, or 47 percent of revenue in Q308. Cash, cash equivalents and restricted cash totaled $38.2 million as of September 30, 2009, compared with $39.5 million as of June 30, 2009. Complete financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations will be available with the filing of the company's Quarterly Report on Form 10-Q with the Securities & Exchange Commission.

As reported previously, the company is conducting an internal review of payments made to an independent sales agent in China in connection with sales of high voltage capacitor products produced by Maxwell's Swiss subsidiary. The company believes that the amount of the payments was immaterial in all periods involved. However, because the company's international operations make it subject to the U.S. Foreign Corrupt Practices Act (FCPA), management is conducting further review to determine how these payments should be treated for FCPA purposes. The internal review has not been completed, and the company is voluntarily sharing information related to the review with the Securities and Exchange Commission and Department of Justice and has provided documents as requested by the SEC in connection with its review of this matter.

Management will conduct a conference call and simultaneous webcast to discuss third quarter financial results and the future outlook at 5 p.m. (EST) today. The call may be accessed by dialing toll-free, (800) 862-9098 from the U.S. and Canada, or (785) 424-1051 for international callers. The live webcast may be accessed via the following link: http://www.maxwell.com/ and will be archived for subsequent Internet replay at http://www.maxwell.com/.

Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Our BOOSTCAP® ultracapacitor cells and multi-cell modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our CONDIS® high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Our radiation-mitigated microelectronic products include power modules, memory modules and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications.

Forward-Looking Statements - Statements in this news release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as:

-- the company's history of losses and uncertainty about its ability to achieve or maintain profitability; -- disruption of global financial markets and reduced credit availability; -- general economic conditions in the markets served by our products; -- demand for original equipment manufacturers' products reaching anticipated -- levels; -- cost-effective manufacturing and the success of outsourced product assembly; -- the impact of competitive products and pricing; -- risks and uncertainties involved in foreign operations, including the impact of currency fluctuations; -- product liability or warranty claims in excess of reserves.

For further information regarding risks and uncertainties associated with Maxwell's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of our SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of these filings may be obtained by contacting Maxwell's investor relations department at (858) 503-3434 or at our investor relations website: http://www.maxwell.com/. All information in this release is as of November 3, 2009. The company undertakes no duty to update any forward-looking statement to reflect actual results or changes in the company's expectations.

MAXWELL TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (Unaudited) September 30, December 31, 2009 2008 ---- ---- ASSETS Current assets: Cash and cash equivalents $30,233 $12,576 Restricted cash - 8,000 Trade and other accounts receivable, net 20,634 14,107 Inventories, net 19,050 18,502 Prepaid expenses and other current assets 1,612 1,645 ----- ----- Total current assets 71,529 54,830 Property and equipment, net 17,341 17,355 Intangible assets, net 3,084 3,755 Goodwill 22,783 22,408 Prepaid pension asset 2,760 2,592 Restricted cash 8,000 - Other non-current assets 1,282 1,373 ----- ----- Total assets $126,779 $102,313 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $15,227 $12,592 Accrued warranty 840 905 Accrued employee compensation 5,564 4,353 Short-term borrowings and current portion of long-term debt 10,768 18,888 Deferred tax liability 456 456 --- --- Total current liabilities 32,855 37,194 Convertible debenture and long- term debt, excluding current portion 9,812 582 Stock warrants 3,769 318 Other long-term liabilities 609 972 --- --- Total liabilities 47,045 39,066 ------ ------ Commitments and contingencies Stockholders' equity: Common stock, $0.10 par value per share, 40,000 shares authorized; 25,886 and 22,521 shares issued and outstanding at September 30, 2009 and December 31, 2008, respectively 2,615 2,253 Additional paid-in capital 220,298 192,228 Accumulated deficit (147,839) (134,902) Accumulated other comprehensive income 4,660 3,668 ----- ----- Total stockholders' equity 79,734 63,247 ------ ------ Total liabilities and stockholders' equity $126,779 $102,313 ======== ======== MAXWELL TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ---------------- ----------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenues: Sales $26,101 $20,973 $73,314 $56,035 License fee and service revenue - 407 - 1,469 --- --- --- ----- Total revenues 26,101 21,380 73,314 57,504 Cost of sales 16,164 15,239 47,409 41,427 ------ ------ ------ ------ Gross profit 9,937 6,141 25,905 16,077 Operating expenses: Selling, general and administrative 7,288 6,044 17,962 16,448 Research and development 4,274 4,003 12,066 10,796 Amortization of intangibles 86 94 267 270 -- -- --- --- Total operating expenses 11,648 10,141 30,295 27,514 ------ ------ ------ ------ Loss from operations (1,711) (4,000) (4,390) (11,437) Interest expense, net (59) (132) (202) (399) Amortization of debt discount and prepaid debt costs (73) (553) (695) (1,922) Loss on embedded derivatives and warrants (2,761) (1,011) (7,175) (1,971) ------ ------ ------ ------ Loss from continuing operations before income taxes (4,604) (5,696) (12,462) (15,729) Income tax provision 33 11 475 512 -- -- --- --- Net loss $(4,637) $(5,707) $(12,937) $(16,241) ======= ======= ======== ======== Basic and diluted net loss per common share $(0.18) $(0.27) $(0.54) $(0.79) ====== ====== ====== ====== Weighted average shares used in computing basic and diluted net loss per common share 25,673 20,992 23,974 20,560 ====== ====== ====== ======

Maxwell Technologies, Inc.

CONTACT: Michael Sund of Maxwell Technologies, Inc., +1-858-503-3233,
msund@maxwell.com

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

FARO to Present at the Robert W. Baird's 2009 Industrial Conference

LAKE MARY, Fla., Nov. 3 /PRNewswire-FirstCall/ -- FARO Technologies, Inc., the world leader in portable computer-aided measurement and imaging innovations, announced that President and CEO Jay Freeland and Senior Vice President and CFO Keith Bair will present at the Robert W. Baird's 2009 Industrial Conference at 12:40pm CST/1:40pm EST on November 10, 2009, at the Four Seasons Hotel in Chicago, IL.

The audio will be simultaneously web cast on http://www.faro.com/Baird-Q4-09.

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

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

About FARO

With approximately 20,000 installations and 9,500 customers globally, FARO Technologies, Inc. designs, develops, and markets portable, computerized measurement and imaging devices and software used to create digital models - or to perform evaluations against an existing model - for anything requiring highly detailed 3-D measurements, including part and assembly inspection, factory planning and asset documentation, as well as specialized applications ranging from surveying, recreating accident and crime scenes to digitally preserving historical sites.

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

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

FARO Technologies, Inc.

CONTACT: Keith Bair, Senior Vice President, CFO, +1-407-333-9911,
keith.bair@faro.com

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

Monsanto Company Sets Webcasts for Biennial Investor Event

ST. LOUIS, Nov. 3, 2009 /PRNewswire-FirstCall/ -- Monsanto Company announced it will hold a series of webcasts in conjunction with its biennial investor event scheduled for Nov. 10-11 at Research Triangle Park, N.C. During presentations at the event, company executives will discuss Monsanto's strategic initiatives, financial targets, product performance, research and development pipeline and other matters related to the company's business.

On Tuesday, Nov. 10, a webcast beginning at 2:30 p.m. E.T. will offer presentations from the following Monsanto executives: Hugh Grant, president and chief executive officer; Ted Crosbie, vice president, breeding; Brett Begemann, executive vice president of seeds and traits; Consuelo Madere, vice president, vegetable business; and Carl Casale, executive vice president and chief financial officer.

On Wednesday, Nov. 11, the event will focus on Monsanto's R&D capability, with presentations by Chief Technology Officer Robb Fraley, Ph.D.; Steve Padgette, Ph.D., vice president, biotechnology; Bob Reiter, Ph.D., vice president, breeding technology. The series of presentations will begin at 8 a.m. E.T. and will conclude by 12 p.m. E.T.

Slides and a simultaneous audio webcast of the presentations will be accessible [just to make clear the slides are not accessible until the webcast] by visiting the investor section of Monsanto's web site at http://www.monsanto.com/investors. Following the live broadcast, a replay of the webcast will be available on the Monsanto web site for three weeks.

About Monsanto Company

Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: http://www.monsanto.com/. Follow our business on Twitter at http://www.twitter.com/MonsantoCo, on Facebook at http://www.facebook.com/MonsantoCo, or subscribe to our News Release RSS Feed.

CONTACT Media - Kelli Powers (314-694-4003)

Monsanto Company

CONTACT: Media, Kelli Powers of Monsanto Company, +1-314-694-4003

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

AirTran Airways Reports October Traffic

ORLANDO, Fla., Nov. 3 /PRNewswire-FirstCall/ -- AirTran Airways, a subsidiary of AirTran Holdings, Inc. , today reported traffic for the month of October. The airline reported that revenue passenger miles (RPMs) and available seat miles (ASMs) represent new monthly records for the month of October.

For October, traffic grew by 5.2 percent to more than 1.5 billion RPMs and the airline enplaned nearly 2 million passengers.

AirTran Airways October 2009 Traffic (Preliminary) October 2009 October 2008 Change ------------ ------------ ------ Revenue Passenger Miles (000) 1,505,874 1,431,476 5.2 percent Available Seat Miles (000) 1,901,825 1,777,512 7.0 percent Load Factor 79.2 percent 80.5 percent -1.3 points Passengers Enplaned 1,998,120 1,975,017 1.2 percent Y-T-D 2009 Y-T-D 2008 Change ---------- ---------- ------ Revenue Passenger Miles (000) 15,582,830 16,168,501 -3.6 percent Available Seat Miles (000) 19,400,086 20,227,525 -4.1 percent Load Factor 80.3 percent 79.9 percent 0.4 points Passengers Enplaned 20,084,377 20,839,691 -3.6 percent

AirTran Airways, a subsidiary of AirTran Holdings, Inc. and 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: AirTran Airways Christopher White Cynthia Tinsley-Douglas 678.254.7442

AirTran Airways

CONTACT: Christopher White or Cynthia Tinsley-Douglas, both of AirTran
Airways, +1-678-254-7442

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

Cipher appoints Dr. William Claypool to Board of DirectorsToronto Stock Exchange Symbol: DND

MISSISSAUGA, ON, Nov. 3 /PRNewswire-FirstCall/ -- Cipher Pharmaceuticals Inc. (TSX: DND) today announced that Dr. William Claypool, M.D., has been appointed to its Board of Directors.

Since October 2008, Dr. Claypool has been a Senior Partner at Pennmark Associates, LLC, a pharmaceutical development consulting firm. Prior to that, Dr. Claypool served as President, CEO and Chairman of Phoenix Data Systems, Inc, from January 2001 until it was acquired by Bio-Imaging Technologies, Inc. in March 2008. From January 2001 until June 2001, he served as President and CEO of The GI Company. From 1991 to 2001 Dr. Claypool held a number of senior management positions with SmithKline Beecham Pharmaceuticals, including Senior Vice-President and Director of Worldwide Clinical Development and Medical Affairs. Dr. Claypool has served as Director of ViroPharma since December 2003 and was a member of the Board of Directors and served on the Audit Committee of 3 Dimensional Pharmaceuticals. Dr. Claypool received his medical degree from the University of Connecticut School of Medicine.

"I am very pleased to welcome William to Cipher's Board," said William Garriock, Chairman of Cipher Pharmaceuticals. "He brings a wealth of clinical development expertise, having led global clinical development at SmithKline Beecham, as well as significant Board-level experience in the life sciences industry, which makes him a valuable addition to our Board of Directors."

Dr. Claypool will serve on Cipher's Nominating and Governance, Compensation, and Audit Committees.

About Cipher Pharmaceuticals Inc.

Cipher Pharmaceuticals is a drug development company focused on commercializing novel formulations of successful, currently marketed molecules using advanced drug delivery technologies. Cipher's strategy is to in-license products that incorporate proven drug delivery technologies and advance them through the clinical development and regulatory approval stages, after which the products are out-licensed to international partners. Because Cipher's products are based on proven technology platforms applied to currently marketed drugs, they are expected to have lower approval risk, shorter development timelines and significantly lower development costs. The Company's lead compound, CIP-FENOFIBRATE, received final approval from the U.S. Food and Drug Administration and Health Canada in the first quarter of 2006. The product is being marketed in the United States by Kowa Pharmaceuticals America under the label Lipofen(R). In addition, Cipher is developing formulations of the pain reliever tramadol (tentative FDA approval in February 2009) and the acne treatment isotretinoin (FDA approvable letter in April 2007).

Cipher is listed on the Toronto Stock Exchange under the symbol 'DND' and has approximately 24 million shares outstanding. For more information, please visit http://www.cipherpharma.com/.

Cipher Pharmaceuticals Inc.

CONTACT: Craig Armitage, Investor Relations, The Equicom Group, (416)
815-0700 ext 278, (416) 815-0080 fax, carmitage@equicomgroup.com; Larry
Andrews, President and CEO, Cipher Pharmaceuticals, (905) 602-5840 ext 324,
(905) 602-0628 fax, landrews@cipherpharma.com

United Security Bancshares, Inc. Reports Third Quarter Results

THOMASVILLE, Ala., Nov. 3 /PRNewswire-FirstCall/ -- United Security Bancshares, Inc. today reported net income of $1.0 million, or $0.17 per diluted share, for the third quarter ended September 30, 2009, compared with $1.4 million, or $0.23 per diluted share, for the same period of 2008.

"We are pleased to report that United Security maintained its solid profitability in the third quarter despite the weak economy," stated R. Terry Phillips, President and Chief Executive Officer of United Security Bancshares, Inc. "We remain focused on improving our operating results but expect that the continuation of soft real estate markets and higher unemployment in our core markets will result in lower loan demand and will put additional pressure on our loan quality metrics."

"United Security and First United Security Bank continue to be rated as 'well-capitalized,' the highest regulatory rating. We believe that our strong capital base provides us with an important buffer to the soft economy. We remain diligent in monitoring our loan quality metrics and working through our non-performing assets to minimize future losses and to protect our capital base," continued Mr. Phillips.

Third Quarter Results

United Security's net income was down from 2008 due to lower net interest income, lower non-interest income and higher non-interest expenses. Net interest income was reduced by lower loan demand and lower interest rates. Non-interest expenses were up from 2008 due to higher costs for FDIC insurance premiums and increased expenses for other real estate owned (OREO).

Interest income totaled $11.8 million in the third quarter of 2009, compared with $12.8 million in the third quarter of 2008. The decrease in interest income was due to a decline in yield and a change in the mix of earning assets.

Interest expense declined 17.5% to $3.3 million in the third quarter of 2009, compared with $4.0 million in the third quarter of 2008. The decline in interest expense was due primarily to lower rates, offset partially by an increase in interest-bearing liabilities. Average deposits increased 3.1% to $499.3 million, compared with $484.1 million in the third quarter of 2008.

Net interest income decreased 3.8% to $8.5 million in the third quarter of 2009, compared with $8.8 million in the third quarter of the prior year. Net interest margin was 5.46% in the third quarter of 2009, compared with 5.91% in the third quarter of 2008. The decline in net interest income was due to a decrease in average loans, combined with the decline in net interest margin.

"Our net interest margin has been under pressure due to our asset yields declining at a faster rate than our funding costs since last year," noted Mr. Phillips. "The overall decline in our loans has also resulted in our excess liquidity being invested in short-term investments that have a much lower yield than our loan portfolio. In addition, the increase in non-accrual loans since last year has reduced our interest income, further affecting our margin."

Provision for loan losses was $1.5 million in the third quarter of 2009, or 1.5% annualized of average loans, compared with $1.9 million, or 1.9% annualized of average loans, in the third quarter of 2008. Net interest income after provision for loan losses rose to $7.0 million in the third quarter of 2009, compared with $6.9 million in the third quarter of 2008.

"Our provision for loan losses was up slightly from the second quarter of 2009, reflecting an increase in our non-performing loans," stated Mr. Phillips. "We have experienced an increase in our non-performing loans since last year as a result of the soft economy. We remain focused on working through our non-performing loans and foreclosed real estate to improve our credit quality and to improve our future earnings potential."

Total non-interest income decreased 21.7% to $1.2 million in the third quarter of 2009, compared with $1.5 million in the third quarter of the prior year. The decline in non-interest income was due to lower service charges, credit life insurance income and other income.

Non-interest expense increased 8.5% to $7.0 million in the third quarter of 2009, compared with $6.4 million in the third quarter of 2008. Salary and employee benefit costs were up 8% to $3.5 million due, in part, to higher health insurance costs. Other expenses rose 14.8% to $2.6 million due to higher FDIC insurance premiums and costs related to OREO, offset partially by lower legal expenses compared with the third quarter of 2008.

Nine Month Results

For the first nine months of 2009, net income increased 8.0% to $5.2 million, or $0.86 per diluted share, compared with $4.8 million, or $0.79 per diluted share, for the first nine months of 2008. The 2009 results include $2.7 million, or $0.30 per share, of non-interest income related to the settlement of a lawsuit.

For the 2009 nine-month period, net interest income declined 3.6% to $25.4 million, compared with $26.4 million for the same period last year. The decrease in net interest income was due primarily to a decline in interest earned on loans related to lower volume and yields.

Provision for loan losses declined to $4.9 million in the first nine months of 2009, or 1.5% annualized of average loans, compared with $5.5 million, or 1.7% annualized of average loans, for the same period in 2008.

Non-interest income rose 40.2% to $6.4 million for the first nine months of 2009, compared with $4.6 million for the same period in 2008. The increase in non-interest income resulted primarily from proceeds of $2.7 million from the settlement of a lawsuit.

Non-interest expense was up 6.0% for the first nine months of 2009 to $19.6 million, compared with $18.5 million in the same period of 2008. The increase was due to higher salary and benefits, FDIC insurance and assessment costs, offset partially by lower legal expenses.

Shareholders' equity totaled $82.7 million, or book value of $13.75 per share, at the end of the third quarter of 2009. Return on average assets for the first nine months of 2009 was 1.01%, and return on average equity was 8.64%. Regular dividends were $0.11 per share in the third quarter of 2009.

About United Security Bancshares, Inc.

United Security Bancshares, Inc. is a bank holding company that operates nineteen banking offices in Alabama through First United Security Bank. In addition, the Company's operations include Acceptance Loan Company, Inc., a consumer loan company, and FUSB Reinsurance, Inc., an underwriter of credit life and credit accident and health insurance policies sold to the bank's and ALC's consumer loan customers. The Company's stock is traded on the Nasdaq Capital Market under the symbol "USBI."

Forward-Looking Statements

This press release contains forward-looking statements as defined by federal securities laws. Statements contained in this press release that are not historical facts are forward-looking statements. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. USBI undertakes no obligation to update these statements following the date of this press release, except as required by law. In addition, USBI, through its senior management, may make from time to time forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of USBI's senior management based upon current information and involve a number of risks and uncertainties. Certain factors that could affect the accuracy of such forward-looking statements are identified in the public filings made by USBI with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of USBI or its senior management should be considered in light of those factors. With respect to the adequacy of the allowance for loan losses for USBI, these factors include, but are not limited to, the rate of growth (or lack thereof) in the economy, the relative strength and weakness in the consumer and commercial credit sectors and in the real estate markets and collateral values. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.

UNITED SECURITY BANCSHARES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Dollars in Thousands, Except Per Share Data) September 30, December 31, 2009 2008 ---- ---- (Unaudited) ASSETS Cash and Due from Banks $11,641 $13,246 Interest-Bearing Deposits in Banks 128 126 --- --- Total Cash and Cash Equivalents 11,769 13,372 Federal Funds Sold 19,875 1,105 Investment Securities Available-for-Sale, at fair market value 192,852 184,213 Investment Securities Held-to-Maturity, at cost 1,250 0 Federal Home Loan Bank Stock, at cost 5,700 5,236 Loans, net of allowance for loan losses of $7,992 and $8,532, respectively 397,746 399,483 Premises and Equipment, net 17,542 17,495 Cash Surrender Value of Bank-Owned Life Insurance 12,039 11,724 Accrued Interest Receivable 4,608 4,843 Goodwill 4,098 4,098 Investment in Limited Partnerships 1,879 1,993 Other Assets 25,868 24,440 ------ ------ Total Assets $695,226 $668,002 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Deposits $500,014 $485,117 Accrued Interest Expense 3,037 3,402 Short-Term Borrowings 718 2,294 Long-Term Debt 100,000 90,000 Other Liabilities 8,709 8,525 ----- ----- Total Liabilities 612,478 589,338 ------- ------- Commitments and Contingencies Shareholders' Equity: Common Stock, par value $0.01 per share, 10,000,000 shares authorized; 7,317,560 shares issued; 6,017,649 and 6,018,154 shares outstanding, respectively 73 73 Surplus 9,233 9,233 Accumulated Other Comprehensive Income, net of tax 4,356 2,476 Retained Earnings 90,211 87,999 Less Treasury Stock: 1,299,911 and 1,299,406 shares at cost, respectively (21,125) (21,117) ------- ------- Total Shareholders' Equity 82,748 78,664 ------ ------ Total Liabilities and Shareholders' Equity $695,226 $668,002 ======== ======== UNITED SECURITY BANCSHARES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Dollars in Thousands, Except Per Share Data) Three Months Ended Nine Months Ended September 30, September 30, 2009 2008 2009 2008 ---- ---- ---- ---- (Unaudited) (Unaudited) INTEREST INCOME: Interest and Fees on Loans $9,661 $10,535 $29,150 $32,860 Interest on Investment Securities 2,143 2,299 6,568 6,541 ----- ----- ----- ----- Total Interest Income 11,804 12,834 35,718 39,401 INTEREST EXPENSE: Interest on Deposits 2,338 3,047 7,515 10,174 Interest on Borrowings 952 941 2,793 2,867 --- --- ----- ----- Total Interest Expense 3,290 3,988 10,308 13,041 ----- ----- ------ ------ NET INTEREST INCOME 8,514 8,846 25,410 26,360 PROVISION FOR LOAN LOSSES 1,489 1,927 4,857 5,467 ----- ----- ----- ----- NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 7,025 6,919 20,553 20,893 NON-INTEREST INCOME: Service and Other Charges on Deposit Accounts 758 842 2,150 2,448 Credit Life Insurance Income 231 295 646 554 Other Income 218 404 3,615 1,572 --- --- ----- ----- Total Non-Interest Income 1,207 1,541 6,411 4,574 NON-INTEREST EXPENSE: Salaries and Employee Benefits 3,538 3,276 10,175 9,641 Occupancy Expense 498 503 1,412 1,403 Furniture and Equipment Expense 316 361 926 1,064 Other Expense 2,598 2,263 7,117 6,414 ----- ----- ----- ----- Total Non-Interest Expense 6,950 6,403 19,630 18,522 ----- ----- ------ ------ INCOME BEFORE INCOME TAXES 1,282 2,057 7,334 6,945 PROVISION FOR INCOME TAXES 255 655 2,166 2,159 --- --- ----- ----- NET INCOME $1,027 $1,402 $5,168 $4,786 ====== ====== ====== ====== BASIC AND DILUTED NET INCOME PER SHARE $0.17 $0.23 $0.86 $0.79 ===== ===== ===== ===== DIVIDENDS PER SHARE $0.11 $0.27 $0.49 $0.81 ===== ===== ===== =====

United Security Bancshares, Inc.

CONTACT: Robert Steen, +1-334-636-5424

North Central Bancshares, Inc. Announces Preliminary Results for Third Quarter 2009

FORT DODGE, Iowa, Nov. 3 /PRNewswire-FirstCall/ -- North Central Bancshares, Inc. (the "Company") , the holding company for First Federal Savings Bank of Iowa (the "Bank"), announced today net income of $1.00 million, or $0.65 per diluted share, for the quarter ended September 30, 2009, compared to a net loss of $(2.75) million, or $(2.05) per diluted share, for the quarter ended September 30, 2008. Net income increased by $5.58 million to $2.68 million, or $1.71 per diluted share, for the nine months ended September 30, 2009, compared to a net loss of $(2.90) million, or $(2.17) per diluted share, for the nine months ended September 30, 2008. The increase in earnings for the third quarter 2009 and nine month period year to date compared to the same periods in 2008 was primarily due to a decrease in other-than-temporary impairment on the investment portfolio and an increase in net interest income, offset in part by increases in provision for loan losses and FDIC insurance expense.

Net interest income for the quarter ended September 30, 2009 was $3.75 million, compared to net interest income of $3.29 million for the quarter ended September 30, 2008. The increase in net interest income was primarily due to an increase in net interest spread (the difference in the average yield on assets and average cost of liabilities). Net interest spread increased to 3.27% for the quarter ended September 30, 2009 from 2.70% for the quarter ended September 30, 2008.

The Company's provision for loan losses was $450,000 and $60,000 for the quarters ended September 30, 2009 and 2008, respectively. The provision for loan losses for the first nine months of 2009 was $1.22 million compared to $280,000 for the first nine months of 2008. Additions to the allowance for loan losses during the first nine months of 2009 were driven by a variety of factors including a deterioration of economic conditions both locally and nationally, downgrades in internal risk ratings, reductions in appraised values, and higher levels of charge-offs. The Company establishes provisions for loan losses, which are charged to operations, in order to maintain the allowance for loan losses at a level which is deemed to be appropriate based upon an assessment of prior loss experience, industry standards, past due loans, economic conditions, the volume and type of loans in the Bank's portfolio, and other factors related to the collectibility of the Bank's loan portfolio.

The allowance for loan losses at September 30, 2009 was 1.52 percent of loans and 51.92 percent of nonaccrual loans, compared to 1.32 percent of loans and 134.34 percent of nonaccrual loans at December 31, 2008. Nonperforming assets were $13.62 million, or 3.01 percent of total assets, at September 30, 2009, compared to $9.21 million, or 1.95 percent of total assets, at December 31, 2008, and $12.07 million, or 2.62 percent of total assets, at June 30, 2009.

The Company's noninterest income was $1.93 million and $1.92 million for the quarters ended September 30, 2009 and 2008, respectively. The increase in noninterest income, for the quarter ended September 30, 2009 compared to September 30, 2008, was primarily due to increases in mortgage banking income by $66,000, investment and insurance sales by $46,000, and loan prepayment fees by $30,000. These increases were offset in part by a decrease in abstract fees of $15,000, fees and service charges on checking accounts of $86,000, and foreclosed real estate net earnings of $29,000.

Total securities gains increased to $6,000 for the quarter ended September 30, 2009 compared to a loss of $3.85 million for the quarter ended September 30, 2008. During the quarter and nine months ended September 30, 2008 the Company recorded an other-than-temporary impairment on securities available-for-sale of $3.85 million and $5.81 million, respectively, primarily due to investments in Fannie Mae and Freddie Mac preferred stock. The Company no longer holds investments in these entities.

The Company's noninterest expense was $3.73 million and $3.56 million for the quarters ended September 30, 2009 and 2008, respectively. The increase in noninterest expense was primarily due to increases in compensation and employee benefits primarily due to an increase in the number of full time equivalent employees, FDIC insurance expense and professional fees, offset by deceases on impairment on other real estate owned and data processing fees for the quarters ended September 30, 2009 and 2008, respectively.

The Company's provision for income taxes was $513,000 and $495,000 for the quarters ended September 30, 2009 and 2008, respectively. The increase in the provision for income taxes was primarily due to an increase in income before income taxes and an increase in the Company's effective tax rate. During the third quarter 2008, the Company recorded other-than-temporary impairments with minimal tax benefit.

Total assets at September 30, 2009 were $453.3 million, compared to $473.3 million at December 31, 2008. Net loans decreased by $16.9 million, or 4.2 %, to $383.9 million at September 30, 2009, from $400.8 million at December 31, 2008. The decrease in net loans was primarily due to payments, prepayments, and sales of loans, offset in part by the origination of one-to-four family residential, multi-family and consumer loans. At September 30, 2009, net loans consisted of (i) $154.6 million of one-to-four family real estate representing a decrease of $15.7 million from December 31, 2008, (ii) $89.0 million of commercial real estate loans representing a decrease of $6.6 million from December 31, 2008, (iii) $64.8 million of multi-family real estate loans representing an increase of $7.3 million from December 31, 2008, and (iv) $75.5 million of consumer loans representing a decrease of $1.9 million from December 31, 2008. Cash and cash equivalents decreased $4.5 million, or 27.7%, to $11.8 million at September 30, 2009, compared to $16.3 million at December 31, 2008. The decrease in cash and cash equivalents was primarily due to a decrease in FHLB borrowed funds and deposits. Securities available-for-sale increased $2.3 million from December 31, 2008, primarily due to the purchase of $8.0 million of securities during the nine months ended September 30, 2009, offset by payments, maturities and sale of securities.

Deposits decreased $21.4 million, or 6.1%, to $328.8 million at September 30, 2009, from $350.2 million at December 31, 2008. The decrease in deposits was primarily due to a decrease in certificates of deposits and brokered deposits, offset by increases in NOW, money market and savings accounts. Borrowed funds decreased $9.5 million, or 11.6%, to $72.8 million at September 30, 2009, from $82.3 million at December 31, 2008.

The Bank remains "well capitalized" for regulatory capital purposes. See the Selected Financial Ratios included in the Financial Highlights below. Stockholders' equity was $48.1 million at September 30, 2009, compared to $35.2 million at December 31, 2008. Common stockholders' equity per share was $28.15 at September 30, 2009, compared to $26.21 at December 31, 2008. The ratio of stockholders' equity to total assets was 10.61% at September 30, 2009, compared to 7.44% at December 31, 2008.

All common stockholders of record on September 18, 2009, received a quarterly cash dividend of $0.01 per common share on October 9, 2009. In addition, on August 15, 2009 the Company paid an aggregate cash dividend of $127,500 on the cumulative preferred stock issued to the Treasury. As of September 30, 2009, the Company had 1,346,448 shares of common stock outstanding and 10,200 shares of cumulative preferred stock outstanding.

About the Company and the Bank

North Central Bancshares, Inc. serves north central and southeastern Iowa at eleven full service locations in Fort Dodge, Nevada, Ames, Perry, Ankeny, Clive, West Des Moines, Burlington, and Mount Pleasant, Iowa through its wholly-owned subsidiary, First Federal Savings Bank of Iowa, headquartered in Fort Dodge, Iowa.

The Bank's deposits are insured by the Federal Deposit Insurance Corporation up to the full extent permitted by law.

Statements included in this press release and in future filings by North Central Bancshares, Inc. with the Securities and Exchange Commission, in North Central Bancshares, Inc. press releases, and in oral statements made with the approval of an authorized executive officer, which are not historical or current facts, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. North Central Bancshares, Inc. wishes to caution readers not to place undue reliance on such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect North Central Bancshares, Inc.'s actual results, and could cause North Central Bancshares, Inc.'s actual financial performance to differ materially from that expressed in any forward-looking statement: (1) competitive pressures among depository and other financial institutions may increase significantly; (2) revenues may be lower than expected; (3) changes in the interest rate environment may reduce interest margins; (4) general economic conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and/or a reduced demand for credit; (5) legislative or regulatory changes, including changes in accounting standards, may adversely affect the business in which the Company is engaged; (6) competitors may have greater financial resources and developed products that enable such competitors to compete more successfully than the Company; and (7) adverse changes may occur in the securities markets or with respect to inflation. The foregoing list should not be construed as exhaustive, and North Central Bancshares, Inc. disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events.

For more information contact: David M. Bradley, Chairman, President and Chief Executive Officer, 515-576-7531

FINANCIAL HIGHLIGHTS OF NORTH CENTRAL BANCSHARES, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Financial Condition (Unaudited) (Dollars in Thousands, except per share and share data) September 30, 2009 December 31, 2008 --------------------------- ------------------ ----------------- Assets Cash and cash equivalents $11,766 $16,282 Securities available-for-sale 29,881 27,530 Loans (net of allowance for loan loss of $5,957 and $5,379, respectively) 383,867 400,787 Other assets 27,742 28,699 ------ ------ Total assets $453,256 $473,298 ------------ ======== ======== Liabilities Deposits $328,752 $350,170 Other borrowed funds 72,826 82,349 Other liabilities 3,577 5,567 ----- ----- Total liabilities 405,155 438,086 Stockholders' equity 48,101 35,212 ------ ------ Total liabilities and stockholders' equity $453,256 $473,298 ======== ======== Stockholders' equity to total assets 10.61% 7.44% ====== ===== Book value per common share $28.15 $26.21 ====== ====== Total shares of common stock outstanding 1,346,448 1,343,448 ========= ========= Total shares of cumulative preferred stock outstanding 10,200 - ====== === Condensed Consolidated Statements of Income (Unaudited) (Dollars in Thousands, except per share data) For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 ---- ---- ---- ---- Interest income $6,158 $6,966 $18,910 $21,609 Interest expense 2,406 3,676 8,149 11,864 ----- ----- ----- ------ Net interest income 3,752 3,290 10,761 9,745 Provision for loan loss 450 60 1,220 280 --- -- ----- --- Net interest income after provision for loan loss 3,302 3,230 9,541 9,465 Noninterest income 1,933 1,922 6,078 5,530 Securities gains/(losses), net 6 (3,851) (38) (5,811) Noninterest expense 3,726 3,556 11,580 10,935 ----- ----- ------ ------ Income /(loss) before income taxes 1,515 (2,255) 4,001 (1,751) Income taxes 513 495 1,323 1,152 --- --- ----- ----- Net income/(loss) $1,002 $(2,750) $2,678 $(2,903) ====== ======= ====== ======= Preferred stock dividends and accretion of discount 132 - 383 - --- --- --- --- Net income/(loss) available to common shareholders 870 (2,750) 2,295 (2,903) === ======= ===== ======= Basic earnings/(loss) per common share $0.65 $(2.05) $1.71 $(2.17) ===== ====== ===== ====== Diluted earnings/(loss) per common share $0.65 $(2.05) $1.71 $(2.17) ===== ====== ===== ====== Selected Financial Ratios For the Three Months For the Nine Months Ended September 30, Ended September 30, 2009 2008 2009 2008 ---- ---- ---- ---- Performance ratios Net interest spread 3.27% 2.70% 3.05% 2.58% Net interest margin 3.51% 2.90% 3.29% 2.79% Return on average assets 0.88% (2.25)% 0.77% (0.77)% Return on average equity 8.42% (27.22)% 7.68% (9.43)% September 30, September 30, 2009 2008 ---- ---- Capital ratios (First Federal Savings Bank of Iowa) Tangible* 9.71% 7.34% Core* 9.71% 7.34% Risk-based* 14.64% 11.14% *Exceeds regulatory definition of "well capitalized"

North Central Bancshares, Inc.

CONTACT: David M. Bradley of North Central Bancshares, Inc.,
+1-515-576-7531

November is National Alzheimer's Awareness MonthLoJack SafetyNet Educational Podcast Features Panel of Experts Addressing Patient and Caregiver Issues

WESTWOOD, Mass., Nov. 3 /PRNewswire-FirstCall/ -- What: In recognition of November as National Alzheimer's Awareness Month, LoJack Corporation has hosted an educational podcast (http://blog.lojack.com/2009/10/30/lojack-safetynet-alzheimers-awareness-month .aspx) that provides valuable information related to Alzheimer's including:

-- The rising incidence of Alzheimer's in the U.S. -- Common day-to-day challenges faced by people with Alzheimer's and their caregivers -- Risks such as the common, yet life-threatening issue of wandering and steps caregivers can take to protect loved ones -- Advice for caregivers on building a strong support network -- Valuable resources for caregivers of those with Alzheimer's

Who: The podcast addressed these subject matters with a panel of experts, including:

-- Gerald Flaherty, Vice President for Medical & Scientific Programs at the Massachusetts/New Hampshire Chapter of the national Alzheimer's Association, who has co-authored an award-winning book on dementia and wandering and a training guide for police on missing persons with dementia -- Jill Gilbert, Vice President at Caring.com, the leading online destination for people caring for aging parents. -- John Paul Marosy, General Manager, LoJack SafetyNet, who is an innovator in elder care with a 30-year career that includes serving in executive positions with leading healthcare organizations, as well as authoring award-winning books on elder care issues. Background:

The podcast is part of LoJack's educational efforts on issues related to cognitive conditions such as Alzheimer's disease and autism. LoJack recently launched a new system, LoJack SafetyNet, that works with Project Lifesaver and enables public safety agencies to track and rescue people at risk of wandering.

Resources: http://www.alz.org/ http://www.alz.org/manh/ http://www.caring.com/ http://www.lojack.com/safetynet/pages/resources.aspx http://www.projectlifesaver.org/ CONTACTS: Jeanne Bock, jbock@tieronepr.com, 781-861-5249 Laura Feng, lfeng@tieronepr.com, 978-975-1414 Paul McMahon, pmcmahon@lojack.com, 781-251-4130

LoJack Corporation

CONTACT: Jeanne Bock, +1-781-861-5249, jbock@tieronepr.com, or Laura
Feng, +1-978-975-1414, lfeng@tieronepr.com, both of Tier One Partners, or Paul
McMahon of LoJack Corporation, +1-781-251-4130, pmcmahon@lojack.com

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

Infinity Property and Casualty Corporation Declares Quarterly Dividend

BIRMINGHAM, Ala., Nov. 3 /PRNewswire-FirstCall/ -- Infinity Property and Casualty Corporation announced today that it declared a quarterly dividend of $0.12 per share of Infinity Property and Casualty Common Stock. The dividend is payable on December 18, 2009 to holders of record on December 4, 2009.

Infinity Property and Casualty Corporation is a national provider of personal automobile insurance with a concentration on nonstandard auto insurance. Its products are offered through a network of approximately 12,500 independent agencies and brokers. For more information about Infinity, please visit http://www.ipacc.com/.

Infinity Property and Casualty Corporation

CONTACT: Amy Jordan, Investor Relations, +1-205-803-8186,
amy.jordan@ipacc.com

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

AK Steel Honored With Award for Technical Research Paper

WEST CHESTER, Ohio, Nov. 3 /PRNewswire-FirstCall/ -- AK Steel said today that it has received the 42nd Outstanding Author Award from the Galvanizers Association for a technical paper entitled "Furnace Atmosphere Monitoring at AK Steel Coating Lines." The award was presented at the association's annual meeting held in October in Louisville, Kentucky. The 2009 award marks the tenth time that the company has received the honor.

The award-winning paper highlights the importance of careful monitoring and control of thermal and atmospheric profiles within continuous coating line furnaces that are used in certain steel finishing processes. Hot-dip galvanizing and aluminizing processes require heating steel in a highly-controlled, hydrogen-containing atmosphere to prepare the steel for good adherence of coatings, such as zinc and aluminum. The coatings are applied for corrosion resistance in a variety of applications, primarily for automotive bodies, appliance and construction uses.

"AK Steel is proud to receive this important recognition," said James L. Wainscott, chairman, president and CEO of AK Steel. "The award is a testament to our talented and innovative research organization, as well as to AK Steel's long-standing commitment to excellence in steel research."

AK Steel research center associates Dr. Joyce Niedringhaus, Dr. Rob Comstock and Dr. Luis Garza authored the paper. Also contributing were AK Steel researchers Jeff Alder, Dr. Jerry Arnold, Sandi Gillum, Jeremy Hansman, Dr. Glenn Huppi, Bob Kelly and Dr. Farrell Kilbane. Dr. Niedringhaus presented the paper on behalf of AK Steel at a previous association meeting.

Founded in 1936, the Galvanizers Association is a worldwide organization with nearly 150 member companies. Members are producers of continuous galvanized iron, steel sheet and pipe products, along with their suppliers.

About AK Steel

AK Steel produces flat-rolled carbon, stainless and electrical steels, primarily for automotive, appliance, construction and electrical power generation and distribution markets. The company employs about 6,000 men and women in Middletown, Mansfield, Coshocton and Zanesville, Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its corporate headquarters in West Chester, Ohio. Additional information about AK Steel is available on the company's web site at http://www.aksteel.com/.

AK Tube LLC, a wholly owned subsidiary of AK Steel, employs about 250 men and women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces carbon and stainless electric resistance welded (ERW) tubular steel products for truck, automotive and other markets. Additional information about AK Tube LLC is available on its web site at http://www.aktube.com/.

AK Steel

CONTACT: Media: Alan H. McCoy, Vice President, Government and Public
Relations, +1-513-425-2826; Investors: Albert E. Ferrara, Jr., Vice President,
Finance & CFO, +1-513-425-2888

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

Investors Bancorp, Inc. Announces 2009 Annual Meeting Results, Director Retirement, and Change in Fiscal Year End

SHORT HILLS, N.J., Nov. 3 /PRNewswire-FirstCall/ -- Investors Bancorp, Inc. ("Company"), the holding company for Investors Savings Bank ("Bank"), held its 2009 Annual Meeting of Stockholders on Tuesday, October 27, 2009 at 9:00 a.m., local time at The Murray Hill Inn, 535 Central Avenue, New Providence, New Jersey 07094.

At the Annual Meeting, Patrick J. Grant, Kevin Cummings, Joseph H. Shepard III were elected to serve as Directors, each for a three-year term. The Company's stockholders also ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for the year ending June 30, 2010.

The Company announced the retirement of John A. Kirkpatrick, a member of the boards of directors of Investors Bancorp, Inc. and Investors Savings Bank since 1992, retired effective October 27, 2009. Each of the Boards of Directors of Investors Bancorp, Inc. and Investors Savings Bank boards was reduced to eleven members. The responsibilities of chairman of the audit committee will be shared by directors Brian D. Dittenhafer and Stephen J. Szabatin as co-chairmen.

The Company also announced its Board of Directors approved a change in the Company's fiscal year end from June 30 to December 31. The change will become effective at the end of the quarter ending December 31, 2009 with the filing of the Company's Form 10-K.

About Investors Bancorp, Inc.

Investors Bancorp, Inc. is the holding company for Investors Savings Bank, which operates from its corporate headquarters in Short Hills, New Jersey, and 65 branch offices located in Essex, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Union and Warren Counties, New Jersey. For more information, please visit the Company's website at http://www.isbnj.com/.

Investors Bancorp, Inc.

CONTACT: Domenick Cama, ISBC, +1-973-924-5105, dcama@isbnj.com

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

Hub Group, Inc. to Participate in the Stephens Inc. Fall Investment Conference on November 18, 2009

DOWNERS GROVE, Ill., Nov. 3 /PRNewswire-FirstCall/ -- Hub Group, Inc. announced today it will participate in the Stephens Inc. Fall Investment Conference on Wednesday, November 18, 2009.

David Yeager, Chairman and Chief Executive Officer, will present a business overview and highlights of Hub's third quarter 2009 results. Hub's presentation will be at approximately 2:00 p.m. Eastern Time on Wednesday, November 18, 2009. The presentation will be webcast live over the internet. You can access the webcast through the Investors link on the Company's website at http://www.hubgroup.com/.

ABOUT HUB GROUP: Hub Group, Inc. is a leading asset-light freight transportation management company providing comprehensive intermodal, truck brokerage and logistics services. The Company operates through a network of over 30 offices throughout the United States, Canada and Mexico.

CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that are not historical, including statements about Hub Group's or management's intentions, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently uncertain and subject to risks. Such statements should be viewed with caution. Actual results or experience could differ materially from the forward-looking statements as a result of many factors. Factors that could cause actual results to differ materially include the factors listed from time to time in Hub Group's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended December 31, 2008 and the report on Form 10-Q for the period ended September 30, 2009. Hub Group assumes no liability to update any such forward-looking statements.

Hub Group, Inc.

CONTACT: Amy Lisek of Hub Group, Inc., +1-630-795-2214

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

Michigan Recovery Continues to Build in September, Reports Comerica Bank's Michigan Economic Activity Index

DALLAS, Nov. 3 /PRNewswire-FirstCall/ -- Comerica Bank's Michigan Economic Activity Index improved two points in September, to a level of 79. September's reading marks the fourth consecutive monthly increase in the Index, which moved to its highest level since December 2008. Compared to its May low, the Index is now up 10 points, or 14.5 percent. August's level was revised from 78 to 77.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO)

"As expected, the Michigan car sales component of our Index declined sharply in September due to the expiration of the cash-for-clunkers program, however, surging auto and steel production fully offset the drop in vehicle sales," said Dana Johnson, Chief Economist at Comerica Bank. "Overall, five components were up, two were unchanged, and two were down in September. Over the next several months, as other sectors of the Michigan economy are bolstered by improving national trends, our Index will likely continue to trend higher."

The Michigan Economic Activity Index equally weights nine, seasonally-adjusted coincident indicators of real economic activity. These indicators reflect activity in the construction, manufacturing and service sectors as well as job growth and consumer outlays. Historical data is available upon request.

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $59.6 billion as of September 30, 2009.

To receive this Index directly to your email inbox, go to http://www.comerica.com/econsubscribe to subscribe.

Photo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Comerica Bank

CONTACT: Media, Dana Johnson, Senior Vice President and Chief Economist,
+1-214-462-6839, djohnson@comerica.com, or Data, Meaghan Derrick, Research
Assistant, +1-214-462-6815, maderrick@comerica.com, both of Comerica Bank

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

Knight Libertas élargit son équipe pour la division Marchés émergents internationaux

JERSEY CITY, New Jersey, LONDRES et HONG KONG, November 3 /PRNewswire/ --

Knight Capital Group, Inc. (Nasdaq : NITE) a annoncé aujourd'hui la création par Knight Libertas d'une équipe de vente pour sa division Marchés émergents internationaux, basée à Greenwich, dans le Connecticut, à Hong Kong et à Londres. En poste dès aujourd'hui, les collaborateurs suivants ont rejoint le groupe des opérateurs-courtiers de titres de placement à revenu fixe institutionnels : Augusto Castilho, Eamon Tubridy, Alfredo Viegas et Elena Antonova aux Etats-Unis ; Alesandro Gherzi, Alisa Mujagic, Nipun Ramaiya, Darren Reiss, Richard Segal et Will Trossell au Royaume-Uni et Jay Lee et Felix Sun en Asie.

<< Knight est ravie d'annoncer ces embauches réalisées dans le cadre de l'expansion de notre division des Marchés émergents internationaux, qui se concentrera sur des sociétés de renom à travers l'Amérique latine, l'Europe de l'Est/la Russie, l'Afrique et l'Asie >>, a déclaré Dan Mullineaux, directeur général, responsable mondial des titres à revenu fixe sur les marchés émergents. << Nous continuerons à ajouter des talents de premier niveau dans les régions situées sur les trois principaux fuseaux horaires au fur et à mesure de la construction d'une plate-forme de services complète, englobant des capacités commerciales, opérationnelles, stratégiques, de recherche et de marchés de capitaux >>.

Knight Libertas un opérateur-courtier de titres à revenu fixe institutionnels qui fournit des services d'exécution de transactions, de recherche fondamentale en investissements et de marchés de capitaux à travers un large éventail de titres de placement à revenus fixes, y compris les Crédit et les Titres garantis par l'État sur les Marchés émergents. Knight Libertas fournit également de la liquidité sur le marché secondaire et de l'analyse basée sur le crédit pour des obligations de Première qualité et à Rendement élevé, des Emprunts bancaires et des titres adossés à des crédits immobiliers/à des créances hypothécaires (ABS/MBS), entre autres titres.

L'équipe Marchés émergents états-unienne est basée au 1 Greenwich Park South, 2e étage, Greenwich, CT 06831, téléphone +1-203-629-9526 et télécopieur +1-203-629-0418. Knight Libertas LLC est une filiale à 100 % de Knight Capital Group, Inc.

L'équipe Marchés émergents européenne opère depuis les bureaux londoniens de Knight basés à City Place House, 55 Basinghall Street, London EC2V 5DU, téléphone +44 (0)20-7997-2200 et télécopieur +44 (0)20-7997-2220. Knight Libertas UK est une division de Knight Capital Europe Limited, qui est une filiale à 100 % de Knight Capital Group, Inc.

L'équipe Marchés émergents d'Asie-Pacifique opère depuis les bureaux hongkongais de Knight basés au 2 International Finance Centre, Suites 4506-4509, 8 Finance Street, Central, Hong Kong, téléphone +852-3987-5000 et télécopieur +852-3987-5100. Knight Libertas (Asia) Limited est une filiale de Knight Libertas LLC, toutes les deux étant des filiales à 100 % de Knight Capital Group, Inc.

Biographies

États-Unis Augusto Castilho Directeur, équipe Marchés émergents Knight Libertas

Augusto Castilho est directeur Amérique latine des Ventes de la division Marchés émergents chez Knight Libertas.

Avant de rejoindre Knight Libertas, M. Castilho était le responsable Revenus fixes sur les Marchés émergents pour la division Titres d'Itau États-Unis, s'occupant de tous types d'investisseurs institutionnels en Amérique du Nord. Il a également vendu des investissements alternatifs à des fonds de pension, des fonds de dotation, des fondations et autres institutions similaires aux États-Unis. Avant son poste à New York, Augusto Castilho était Directeur de portefeuille et Opérateur en chef de devises pour la division Gestion d'actifs d'Itau, avec 15 milliards USD d'actifs de clients institutionnels brésiliens sous gestion. Il a également travaillé au sein d'institutions de premier niveau aux États-Unis et au Brésil, notamment Louis Dreyfus, Wachovia et Merrill Lynch, en tant qu'opérateur de l'argent institutionnel, sous les ordres du Trésorier.

M. Castilho est spécialisé en titres internationaux, garantis par l'État et institutionnels. Il compte également sur une profonde connaissance des produits de crédit structurés, des dérivés, des devises, des taux d'intérêt et des marchés du G-7.

M. Castilho est diplômé d'administration d'entreprise de FGV-Fundacao Getulio Vargas, avec des options en finance et en gestion. Il détient également un Master en économie de l'IBMEC, avec une spécialisation en économétrie et en macroéconomie ainsi qu'un diplôme supérieur de finance de l'Université de Harvard, avec des options en modélisation d'actifs et dérivés.

--- Eamon Tubridy Directeur, équipe Marchés émergents Knight Libertas

Eamon Tubridy est un directeur des Ventes de la division Marchés émergents chez Knight Libertas.

Avant de rejoindre Knight Libertas, M. Tubridy a travaillé chez RBS dans la vente sur les marchés émergents. Il compte près de 20 ans d'expérience sur les marchés émergents, principalement du côté acheteur, en tant qu'opérateur et analyste au sein des organisations suivantes : Salomon Brothers Asset Management, OppenheimerFunds, Nomura Corporate Research & Asset Management et Moore Capital.

Eamon Tubridy détient un diplôme supérieur en finance de l'Université de New York. Il est analyste financier agréé (CFA).

--- Alfredo Viegas Directeur, équipe Marchés émergents Knight Libertas

Alfredo Viegas est un directeur des Ventes de la division Marchés émergents chez Knight Libertas.

Avant de rejoindre Knight Libertas, M. Viegas a géré les crédits internationaux et les fonds spéculatifs (<< hedge funds >>) multistratégiques. Chez Advent Capital, il a codirigé l'arbitrage de convertibles et des fonds multistratégiques et chez Tiedemann Investment Group, il a géré un fonds spéculatif international piloté par événement (<< event-driven hedge fund >>). Précédemment, Alfredo Viegas a géré des fonds sur des marchés émergents aussi bien dans les créances que dans les capitaux propres. The Lexington World Wide, un fonds mutuel d'actions qu'il a géré, était classé No 1 aux États-Unis des fonds d'actions des marchés émergents en 1999 parmi 342 fonds. Chez Salomon Brothers, il était stratège en capitaux propres pour l'Amérique latine et analyste des obligations institutionnelles sur les marchés émergents. Sa carrière a débuté chez Morgan Stanley où il s'occupait de l'ensemble de l'Amérique latine.

Alfredo est diplômé de l'Université Wesleyan et détient un Master en astrophysique de l'Université de Swinburne.

--- Elena Antonova Adjointe, équipe Marchés émergents Knight Libertas

Elena Antonova est une analyste de bureau au sein de l'équipe Marchés émergents chez Knight Libertas.

Avant de rejoindre Knight Libertas, Mme Antonova a été analyste chez RenCap Securities, dans le domaine des capitaux propres et des revenus fixes sur les marchés émergents. Précédemment, Elena Antonova a travaillé pour KPMG en Russie en tant qu'auditrice.

Elena Antonova détient un Master de l'Université Brandeis, International Business School.

--- Europe Alessandro Gherzi Directeur, équipe Marchés émergents Knight Libertas UK

Alessandro Gherzi est un directeur des Ventes de la division Marchés émergents chez Knight Libertas à Londres.

Avant de rejoindre Knight Libertas, M. Gherzi était en poste chez J.P. Morgan, où il travaillait dans la vente de crédits, de disponibilités, de devises et de produits structurés, en charge principalement des comptes CIS. Précédemment, Alessandro Gherzi faisait partie de la division Organisation et Ventes sur les marchés émergents chez Crédit Suisse First Boston. Il a également travaillé pour Lehman Brothers International (Europe) dans le groupe Syndication et Marchés de capitaux d'emprunt.

Alessandro Gherzi détient une Licence et un Master en gestion de la London School of Economics and Political Science. Il détient également un Master paneuropéen de la Communauté des écoles de gestion européennes. Il parle couramment le russe, l'italien et l'anglais.

--- Alisa Mujagic Directeur, équipe Marchés émergents Knight Libertas UK

Alisa Mujagic est une directrice des Ventes de la division Marchés émergents et des Transactions africaines chez Knight Libertas à Londres.

Avant de rejoindre Knight Libertas, Mme Mujagic était responsable des ventes et des échanges de créances institutionnelles et nationales, locales et externes, pour la zone Moyen-Orient et Afrique Subsaharienne chez UBA Global Capital. Précédemment, Mme Mujagic était directrice adjointe chez UBS Investment Bank, en charge de la dette externe et locale en Égypte et en Afrique subsaharienne.

Alisa Mujagic est titulaire d'un Master en affaires internationales de l'Université Columbia. Elle est également diplômée du Mercy College.

--- Nipun Ramaiya Directeur, équipe Marchés émergents Knight Libertas UK

Nipun Ramaiya est un directeur de la division Ventes sur les Marchés émergents chez Knight Libertas à Londres.

Avant de rejoindre Knight Libertas, M. Ramaiya échangeait et structurait des produits de Marchés émergents pour la Royal Bank of Scotland. Avant d'intégrer la RBS, il opérait sur les Marchés émergents pour Merrill Lynch. À ce poste, il échangeait des options de Devises ainsi que des Dérivés sur événement de crédit (CDS) sur les Marchés locaux et les Marchés émergents.

M. Ramaiya détient un diplôme supérieur de technologie en ingénierie aéronautique de l'Indian Institute of Technology et un Master gestion d'entreprise en finance de l'Université de l'État de Pennsylvanie.

--- Darren Reiss Directeur, équipe Marchés émergents Knight Libertas UK

Darren Reiss est un directeur des Ventes de la division Marchés émergents chez Knight Libertas à Londres.

Avant de rejoindre Knight Libertas, M. Reiss était directeur des ventes sur les marchés émergents chez HSBC, en charge des fonds spéculatifs (<< hedge funds >>) au Royaume-Uni. Précédemment, M. Reiss a constitué l'équipe de vente de MarketAxess au Royaume-Uni. Il a débuté sa carrière chez Hambors/RBC où il était responsable des ventes de crédits de première qualité sur les marchés du Benelux.

Darren Reiss détient un diplôme supérieur en mathématiques et en gestion de Manchester University.

--- Richard Segal Directeur, équipe Marchés émergents Knight Libertas UK

Richard Segal est un directeur de l'équipe Marchés émergents chez Knight Libertas à Londres.

M. Segal a rejoint Knight Libertas avec pour mission d'analyser les produits institutionnels dans la zone Europe, Moyen-Orient et Afrique (EMEA) ainsi que les titres garantis par l'État sur les marchés émergents. Au cours des deux dernières années, il s'est concentré sur les marchés africains au sein d'UBA et Renaissance Capital. Juste avant cela, il était stratège en chef chez Argo Capital, un fonds international de crédits sur les marchés émergents. Plus tôt dans sa carrière, M. Segal a travaillé dans des institutions telles que Salomon Brothers, Bank of America et Santander Investment. Il a occupé la fonction de consultant pour de grandes banques commerciales, des investisseurs institutionnels et des entreprises, époque à laquelle il s'est concentré sur l'Europe de l'Est et l'Asie centrale.

Au cours de sa carrière, M. Segal a mis au point une série de modèles économiques et financiers concernant les risques des titres garantis par l'État, la structure à échéance unique des obligations et la valeur relative des devises et des matières premières. Il est l'éditeur et le coauteur d'un guide sur les marchés de capitaux subsahariens, l'auteur de << The Russian Economy in 1994 >> (L'économie de la Russie en 1994) et a contribué à l'élaboration de << The Handbook of International Investing >> (Le guide de l'investissement international).

Richard Segal est titulaire d'un diplôme supérieur en sciences économiques du Massachusetts Institute of Technology.

--- Will Trossell Directeur, équipe Marchés émergents Knight Libertas UK

Will Trossell est un directeur de l'équipe Marchés émergents chez Knight Libertas à Londres.

Avant de rejoindre Knight Libertas, M. Trossell a mis en place le bureau des ventes sur les marchés émergents chez Calyon CIB, centré sur l'échange d'obligations de crédits et de dérivés sur événement de crédit (CDS). Avant cela, il faisait partie de l'équipe des ventes sur les marchés émergents chez UBS.

Will Trossell a obtenu un diplôme supérieur en sciences économiques de Plymouth.

--- Asie-Pacifique Jay Lee Directeur, équipe Marchés émergents Knight Libertas, Hong Kong

Jay Lee est un directeur des Ventes de la division Marchés émergents chez Knight Libertas à Hong Kong.

Avant de rejoindre Knight Libertas, M. Lee dirigeait les Crédits structurés et les Ventes de crédits chez Calyon CIB où il était en charge des marchés coréens. Précédemment, Jay Lee a été vice-président des Revenus fixes chez Fortis Bank.

Jay Lee a obtenu un diplôme supérieur en développement du tourisme et des loisirs de l'Université Kyoung-Ki.

--- Felix SUN Directeur, équipe Marchés émergents Knight Libertas, Hong Kong

Felix SUN est un directeur des Ventes de la division Marchés émergents chez Knight Libertas à Hong Kong.

Avant de rejoindre Knight Libertas, M. SUN a travaillé pendant deux ans chez RBC dans la vente de produits à revenus fixes et structurés. Précédemment, il a occupé pendant six ans le poste de gestionnaire d'un portefeuille d'obligations pour la banque Ping An. M. SUN a également travaillé en tant qu'analyste en gestion de risque chez AXA Investment Managers. Il a initié sa carrière à la Bank of Tokyo-Mitsubishi UFJ en tant que directeur marketing du département des ventes des prêts institutionnels.

M. SUN détient un master en gestion d'entreprise de l'École Supérieure de Gestion.

À propos de Knight

Knight Capital Group, Inc. (Nasdaq : NITE) est une société internationale de marchés de capitaux proposant des services d'accès au marché et d'exécution de transactions pour de multiples catégories de sociétés, côté acheteur et côté vendeur. Le modèle de marché hybride de Knight se caractérise par des services complémentaires électroniques et vocaux d'exécution de transactions pour les titres de placement internationaux et à revenu fixe ainsi que pour les devises, les contrats à terme et les options. Notre société est régulièrement classée principale source de liquidité hors devises dans les capitaux propres états-uniens. Knight fournit également des services de marchés de capitaux aux émetteurs institutionnels. Le siège de Knight est situé à Jersey City, dans le New Jersey, et compte sur une présence mondiale en expansion à travers l'Amérique du Nord, l'Europe et la région Asie-Pacifique. Pour de plus amples informations, veuillez vous rendre sur le site www.knight.com.

Certains énoncés contenus dans le présent communiqué peuvent constituer des << énoncés prospectifs >> au sens de la loi Private Securities Litigation Reform Act de 1995. Ces énoncés prospectifs ne sont pas des faits de nature historique et sont basés sur des attentes, des estimations et des projections actuelles concernant le secteur d'activité de la Société, les convictions de la direction et certaines hypothèses émises par la direction, dont une grande partie est, de par sa nature, incertaine et en dehors de notre contrôle. Les lecteurs sont par conséquent avertis que ces énoncés prospectifs ne constituent pas des garanties de performance future et sont assujettis à certains risques, incertitudes et hypothèses difficiles à prévoir, y compris, mais sans s'y limiter, des risques associés aux coûts, à l'intégration, à la performance et au fonctionnement des activités récemment acquises ou susceptibles d'être acquises à l'avenir par la Société, et des risques associés aux coûts et dépenses associés à la sortie de la Société de l'activité de Gestion d'actifs. Étant donné que ces énoncés impliquent des risques et des incertitudes, les résultats et les performances réels de la Société sont susceptibles d'être considérablement différents des résultats exprimés ou sous-entendus dans ces énoncés prospectifs. Compte tenu de ces incertitudes, les lecteurs sont avertis de ne pas se fier outre mesure à ces énoncés prospectifs. Sauf obligation légale, la Société rejette également toute obligation de mettre à jour ses opinions sur tout risque ou incertitude, ou d'annoncer publiquement les résultats de toute révision des énoncés prospectifs du présent communiqué. Les lecteurs sont invités à examiner avec soin les risques et incertitudes divulgués dans les rapports de la Société déposés auprès de la Securities and Exchange Commission (SEC) des États-Unis, y compris, mais sans s'y limiter, ceux détaillés dans les sections << Certain Factors Affecting Results of Operations >> (Certains facteurs influençant les résultats des opérations) et << Risk Factors >> (Facteurs de risque) du rapport annuel de la Société sur formulaire 10-K pour l'exercice clos le 31 décembre 2008 et dans d'autres rapports ou documents que la Société dépose ou fournit périodiquement à la SEC. Ces informations doivent aussi être lues conjointement aux états financiers consolidés de la Société et aux notes connexes compris dans le rapport annuel de la Société sur formulaire 10-K pour l'exercice clos le 31 décembre 2008 et dans d'autres rapports ou documents que la Société dépose ou fournit périodiquement à la SEC.

Knight Capital Group

Margaret Wyrwas, directeur général associé de la communication, du marketing et des relations investisseurs, +1-201-557-6954, mwyrwas@knight.com, ou Kara Fitzsimmons, directrice des relations médias, +1-201-356-1523, kfitzsimmons@knight.com, ou Jonathan Mairs, vice-président de la communication institutionnelle, +1-201-356-1529, jmairs@knight.com, ou Jennifer Day, vice-présidente de la communication marketing - revenus fixes institutionnels, +1-201-356-1506, jday@knight.com

Oil Refineries' Major Shareholders Amend Control Agreement Following Impending Acquisition Balance of Carmel Olefins

HAIFA, Israel, November 3 /PRNewswire/ -- Oil Refineries Ltd. (TASE: ORL.TA) (hereinafter: the "Company", "ORL"), Israel's largest oil refiner, announced today that, following its announcement of October 28, 2009 with regards to the signing of the agreement with Israel Petrochemical Enterprises Ltd. (hereinafter: "IPE") to acquire IPE's share in Carmel Olefins Ltd. (hereinafter: "CAOL"), in exchange for the Company's allocating 17.75% of its issued share capital (following the transaction)[1], its major shareholders', the Israel Corporation Ltd. (hereinafter: "Israel Corp.") and IPE, have signed an addendum to the Joint Control Agreement signed June 5, 2009.

The Addendum is subject to receipt of the Israeli Ministers' approval to the Addendum under the Government Companies' Decree (Definition of National Government Interests in Oil Refineries Ltd., 2007), and the control permits granted under it, as well as the allocation to IPE of 431,610,944 of ORL's shares, representing 17.75% of the Company's issued and outstanding share capital, under the above said agreement signed October 27, 2009.

The Addendum addresses the definition of core controlling shares whereby the core controlling shares will be defined as 40% of ORL's issued and outstanding shares, following the said allocation to IPE, 55.625% of which will be held by the Israel Corp. and 44.375% by IPE. The balance of shares by the two shareholders will be deemed free and not bound by the said Addendum.

Furthermore, the Addendum refers to the parties' rights of first refusal, Tag Along rights, Buy-Me-Buy-You rights, Nomination of Directors, Nomination of Managers and Advisors, voting rights on certain manners as well as additional provisions in the instance of selling controlling shares in the Company.

The above describes only highlights of the notice and is not of an comprehensive nature, the translation of the full immediate report issued to the Tel Aviv Stock Exchange and the Israel Securities Authority will be available on the Company's website (http://www.orl.co.il, under Investor Relations, by November 4, 2009.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's largest oil refinery. ORL operates sophisticated and state-of-the-art industrial facilities with refining capacity of 9.8 million tons of crude oil per year, with a Nelson complexity index of 7.4, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. The Company is also active in the area of Polymers (through Carmel Olefins Ltd.) and Aromatics (through wholly-owned Gadiv Petrochemical Industries Ltd.). ORL is traded on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit the Company's website: http://www.orl.co.il

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

[1] Following completion of the transaction Israel Corp. will hold approximately 37.08% of the Company, and IPE will hold 30.72%.

Company Contact: Rony Solonicof Chief Economist and Head of Investor Relations Oil Refineries Tel. +972-4-878-8320 ContactIREn@orl.co.il Investor Relation Contacts: Ehud Helft \ Fiona Darmon GK Investor Relations Tel. +1-646-797-2868 \ +972-52-695-4400 info@gkir.com

Oil Refineries Ltd

Company Contact: Rony Solonicof, Chief Economist and Head of Investor Relations, Oil Refineries, Tel. +972-4-878-8320, ContactIREn@orl.co.il; Investor Relation Contacts: Ehud Helft \ Fiona Darmon, GK Investor Relations, Tel. +1-646-797-2868 \ +972-52-695-4400, info@gkir.com

Old Republic to File Third Quarter, 2009 SEC Form 10-Q Report With an Unresolved Revenue Accounting Matter

CHICAGO, Nov. 3 /PRNewswire-FirstCall/ -- Old Republic International Corporation today announced that it will shortly file its third quarter 2009 Form 10-Q report with the Securities and Exchange Commission. The filing will take place even though the Company's independent auditors, PricewaterhouseCoopers LLP ("PwC") have communicated their disagreement with the Company's treatment of certain third quarter 2009 reinsurance transactions consummated by the Company's Mortgage Guaranty subsidiary. The transactions and the financial statement treatment afforded to them were disclosed in the Company's October 22, 2009 earnings press release as follows:

"During this year's third quarter, the Mortgage Guaranty Group recaptured business previously ceded to several captives. In substance, the transactions are cut-off reinsurance arrangements whereby the captives have remitted to the Company the reserves on existing claim obligations and a risk premium for claims that will occur after the recapture date. Accordingly, the Company recorded proceeds of $148.9 million and established a combination of claim reserves ($68.4 million) and premium reserves ($82.5 million) all of which resulted in little consequential effect on the pretax loss for the quarter and first nine months of 2009."

To effect the transactions the Company calculated a necessary, actuarially determined total premium designed to at least cover all future claims occurring after termination of the existing reinsurance contracts. The economic basis of the premium offered and agreed to by the captives consisted of the combination of an initial front end risk premium ($82.5 million) paid in cash and marketable securities, and a subsequent additional risk premium equal to all estimated future renewal premiums that would have otherwise inured to the captives had the reinsurance agreements remained in place. Accordingly, to reflect the economic substance of the cut-off reinsurance arrangements, the initial front end risk premium has been recorded as a balance sheet unearned premium reserve. This reserve will revert to earned premiums in future periods' income statements pursuant to an amortization schedule that simulates the estimated timing of the future renewal risk premiums that will henceforth be retained by the Company. In so doing, the Company will be consistent with its own and generally accepted industry-wide insurance accounting practices pertaining to cut-off reinsurance arrangements and, assuming the reasonableness of its usual risk transfer pricing methodology, its consequent underwriting results should not be materially better or worse than they would have been if the reinsurance agreements had remained in place.

PwC has informed the Company that based on its analysis of the transactions and interpretation of generally accepted accounting principles ("GAAP"), it has concluded that immediate recognition of a gain in the amount of $82.5 million is required in the third quarter of 2009. In addition, PwC has advised that, as a result of this disagreement, it is unable to complete its review of the Company's consolidated financial statements included in the third quarter 2009 Form 10-Q.

In Old Republic management's opinion, recognition of the $82.5 million initial front end risk premium as a current period revenue and bottom line gain would create the appearance of much improved third quarter 2009 results when none existed or occurred. Given the economic substance of the transactions, the appearance so created would also cause misleading inferences relative to such matters as trends in premium revenue and claim costs as well as the actual underwriting results of Old Republic's Mortgage Guaranty line for the nine quarterly periods since the onset of economic dislocations.

In view of the un-reconciled financial accounting positions taken by the Company and its independent auditors, Old Republic intends to petition the SEC to seek resolution of the matter.

Since there is no assurance that the Company's position will prevail, this press release is being issued to alert shareholders, rating agencies, and others who may be relying on the Company's published financial reports to the possibility that its accounting methodology in the above regards might not be sustained. In the latter circumstance, and with the further assumption that PwC's financial accounting position would be deemed preferable by the SEC, then Old Republic would be required to restate its previously issued financial statements for the three and nine months ended September 30, 2009. A summarized version of financial statements and pertinent statistics reflecting such possible restatement is shown in the accompanying table.

About Old Republic

Chicago-based Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages primarily in the property & liability, mortgage guaranty, and title insurance fields. One of the nation's 50 largest publicly owned insurance organizations, Old Republic has assets of approximately $14.30 billion and shareholders' equity of $3.90 billion or $16.54 per share. Its current stock market valuation is approximately $2.5 billion, or $10.65 per share.

The nature of Old Republic's business requires that it be managed for the long run. For the 25 years ended in 2008, the Company's total market return, with dividends reinvested, has grown at a compounded annual rate of 9.6 percent per share. For the same period, the total market return, with dividends reinvested, for the S&P 500 Index has grown at a 9.8 percent annual compound rate. During those years, Old Republic's shareholders' equity account, inclusive of cash dividends, has risen at an average annual rate of 12.1 percent per share, and the regular cash dividend has grown at a 10.3 percent annual compound rate. According to the most recent edition of Mergent's Dividend Achievers, Old Republic is one of just 120 companies, out of 10,000-plus publicly held corporations, that have posted at least 25 consecutive years of annual dividend growth.

Safe Harbor Statement

Historical data pertaining to the operating results, liquidity, and other performance indicators applicable to an insurance enterprise such as Old Republic are not necessarily indicative of results to be achieved in succeeding years. In addition to the factors cited below, the long-term nature of the insurance business, seasonal and annual patterns in premium production and incidence of claims, changes in yields obtained on invested assets, changes in government policies and free markets affecting inflation rates and general economic conditions, and changes in legal precedents or the application of law affecting the settlement of disputed and other claims can have a bearing on period-to-period comparisons and future operating results.

Some of the oral or written statements made in the Company's reports, press releases, and conference calls following earnings releases, can constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Of necessity, any such forward-looking statements involve assumptions, uncertainties, and risks that may affect the Company's future performance. With regard to Old Republic's General Insurance segment, its results can be affected, in particular, by the level of market competition, which is typically a function of available capital and expected returns on such capital among competitors, the levels of interest and inflation rates, and periodic changes in claim frequency and severity patterns caused by natural disasters, weather conditions, accidents, illnesses, work-related injuries, and unanticipated external events. Mortgage Guaranty and Title Insurance results can be affected by similar factors, and by changes in national and regional housing demand and values, the availability and cost of mortgage loans, employment trends, and default rates on mortgage loans. Mortgage Guaranty results, in particular, may also be affected by various risk-sharing arrangements with business producers, as well as the risk management and pricing policies of government sponsored enterprises. Life and health insurance earnings can be affected by the levels of employment and consumer spending, variations in mortality and health trends, and changes in policy lapsation rates. At the parent holding company level, operating earnings or losses are generally reflective of the amount of debt outstanding and its cost, interest income on temporary holdings of short-term investments, and period-to-period variations in the costs of administering the Company's widespread operations.

A more detailed listing and discussion of the risks and other factors which affect the Company's risk-taking insurance business are included in Part I, Item 1A - Risk Factors, of the Company's 2008 Form 10-K annual report to the Securities and Exchange Commission, which Item is specifically incorporated herein by reference.

Any forward-looking statements or commentaries speak only as of their dates. Old Republic undertakes no obligation to publicly update or revise any and all such comments, whether as a result of new information, future events or otherwise, and accordingly they may not be unduly relied upon.

Accompanying Financial Data: -- Old Republic International Corporation: Unresolved Mortgage Guaranty Revenue Recognition Accounting Matter For the latest news releases and other corporate documents on Old Republic: write to: Investor Relations Old Republic International Corporation 307 North Michigan Avenue Chicago, IL 60601 312-346-8100 or visit us at http://www.oldrepublic.com/. Old Republic International Corporation: Unresolved Mortgage Guaranty Revenue Recognition Accounting Matter(*) ($in millions, except per share data) ------------------------------------------------------------------------ ORI Consolidated ------------------------------------------------------------------------ Quarters Ended Nine Months Ended September 30, September 30, --------------------------- --------------------------- With With Possible Possible Restate- Restate- As Reported ment(*) As Reported ment(*) 2008 2009 2009 2008 2009 2009 ------- ------- ------- ------- ------- ------- Net premiums and fees earned $835.2 $856.1 $938.6 $2,517.5 $2,445.4 $2,527.9 Net benefits and claims incurred 683.2 671.2 671.2 2,017.1 1,962.8 1,962.8 Pretax operating income (loss) (80.1) (110.7) (28.2) (208.3) (289.6) (207.1) Income taxes (credits) (34.8) (44.6) (15.7) (93.3) (119.9) (91.0) ------- ------- ------- ------- ------- ------- Net operating income (loss) $(45.3) $(66.1) $(12.5) $(114.9) $(169.6) $(116.0) ======= ======= ======= ======= ======= ======= Net operating income (loss) per diluted share $(.20) $(.28) $(.05) $(.50) $(.72) $(.49) ======= ======= ======= ======= ======= ======= Benefits and claim ratio 81.8% 78.4% 71.5% 80.1% 80.3% 77.6% ======= ======= ======= ======= ======= ======= Ending Shareholders' Equity: Total $3,914.3 $3,901.3 $3,954.9 Per common share $16.96 $16.54 $16.77 ======= ======= ======= ORI Mortgage Guaranty Segment ------------------------------------------------------------------------ Quarters Ended Nine Months Ended September 30, September 30, --------------------------- --------------------------- With With Possible Possible Restate- Restate- As Reported ment(*) As Reported ment(*) 2008 2009 2009 2008 2009 2009 ------- ------- ------- ------- ------- ------- Net premiums earned $148.4 $138.9 $221.4 $445.2 $425.8 $508.3 Net claims incurred 301.3 297.3 297.3 855.9 867.7 867.7 Pretax operating income (loss) (152.8) (160.4) (77.9) (415.9) (443.0) (360.5) Income taxes (credits) (54.8) (57.4) (28.5) (149.7) (159.1) (130.2) ------- ------- ------- ------- ------- ------- Net operating Income (loss) $(97.9) $(102.9) $(49.3) $(266.2) $(283.8) $(230.2) ======= ======= ======= ======= ======= ======= Claim ratio 203.1% 214.0% 134.3% 192.3% 203.8% 170.7% ======= ======= ======= ======= ======= ======= Net Net Operating Premiums Earned Claim Ratio Income (Loss) ----------------- ----------------- ----------------- With With With Possible Possible Possible As Restate- As Restate- As Restate- Reported ment(*) Reported ment(*) Reported ment(*) ------- ------- ------- ------- ------- ------- 3rd Quarter 2007 $133.9 $133.9 161.9% 161.9% $(52.6) $(52.6) 4th Quarter 2007 141.2 141.2 178.7 178.7 (71.5) (71.5) 1st Quarter 2008 147.6 147.6 181.1 181.1 (78.1) (78.1) 2nd Quarter 2008 149.1 149.1 192.5 192.5 (90.0) (90.0) 3rd Quarter 2008 148.4 148.4 203.1 203.1 (97.9) (97.9) 4th Quarter 2008 147.2 147.2 220.5 220.5 (114.5) (114.5) 1st Quarter 2009 145.3 145.3 199.9 199.9 (92.6) (92.6) 2nd Quarter 2009 141.5 141.5 197.7 197.7 (88.3) (88.3) 3rd Quarter 2009 $138.9 $221.4 214.0% 134.3% $(102.9) $(49.3) ======= ======= ======= ======= ======= ======= (*) Data in the columns headed "With Possible Restatement" shows the effect that the immediate recognition of the initial front end risk premium would have on ORI's reported earnings and trends therein for the three and nine months ended September 30, 2009 and in relation to preceding quarters.

Old Republic International Corporation

CONTACT: A.C. Zucaro, Chairman & CEO of Old Republic International
Corporation, +1-312-346-8100; or Leslie Loyet, Analysts/Investors of Financial
Relations Board, +1-312-640-6672, lloyet@mww.com

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

Alaska Air Group to Hold Investor Meeting on November 10

SEATTLE, Nov. 3 /PRNewswire-FirstCall/ -- Alaska Air Group, Inc. , the parent company of Alaska Airlines, Inc., and Horizon Air Industries, Inc., will hold an investor day on Tuesday, Nov. 10, 2009, at the New York Stock Exchange, 20 Broad Street, New York. Remarks by company management will begin at 9:30 a.m. Pacific time/12:30 p.m. Eastern time. Interested parties may listen to the presentation and question-and-answer period via webcast at http://www.alaskaair.com/investors.

Alaska Airlines and Horizon Air, subsidiaries of Alaska Air Group , together serve more than 90 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico. Alaska Airlines ranked "Highest in Customer Satisfaction among Traditional Network Carriers" in the J.D. Power and Associates 2008 and 2009 North America Airline Satisfaction Studies(SM). For reservations, visit alaskaair.com. For more news and information, visit the Alaska Airlines/Horizon Air Newsroom at alaskaair.com/newsroom.

Alaska Air Group, Inc.

CONTACT: Media, Bobbie Egan, Media Relations Manager, +1-206-392-5134,
or Investors/analysts, Shannon Alberts, Managing Director of Investor
Relations, +1-206-392-5218, both of Alaska Air Group, Inc.

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

Graphic Packaging Continues Manufacturing IntegrationThe Company Plans to Close Two U.S. Folding Carton Plants

MARIETTA, Ga., Nov. 3 /PRNewswire/ -- Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company , today announced that it plans to close two manufacturing facilities and transition business to other U.S. operating locations. These closures are part of the Company's continued efforts to achieve synergies related to the March 2008 combination with Altivity Packaging, LLC ("Altivity").

Graphic Packaging's folding carton facilities in Fort Wayne, Indiana, and Santa Clara, California, are expected to discontinue production by mid-year 2010. The company's Santa Clara recycled paperboard mill and Orchard Park, California, facility will not be affected by the closures.

"As one of the world's largest packaging companies, we continue to push aggressively in 2009 to integrate assets from the 2008 combination between Altivity Packaging and Graphic Packaging and streamline operations," said David W. Scheible, president and chief executive officer of Graphic Packaging International, Inc. "These key closures will complete the plant rationalization element of our integration efforts."

"We intend to continue to compete as the lowest cost producer in our markets. Our initiatives to integrate and optimize our manufacturing base ensure that our customers are reliably supported from a solid network of efficient, low-cost manufacturing facilities. As a result of our focus on these goals, we are better positioned today to strengthen our earnings performance and continue to reduce debt even under the current challenging operating environment," Scheible said.

Forward-looking Statements

Any statements of the Company's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements, which include statements regarding production shutdowns, facility closures and transition of business to other locations, are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's present expectations. These risks and uncertainties include, but are not limited to, the Company's ability to implement its business strategies, including productivity initiatives and cost reduction plans, and the impact of regulatory and litigation matters. Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements. Additional information regarding these and other risks is contained in the Company's periodic filings with the SEC.

About Graphic Packaging International, Inc.

Graphic Packaging International, Inc., a subsidiary of Graphic Packaging Holding Company , headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The company is one of the largest producers of folding cartons and holds a leading market position in coated-recycled boxboard and specialty bag packaging. The company's customers include some of the most widely recognized companies in the world. Additional information about Graphic Packaging, its business and its products is available on the company's web site at http://www.graphicpkg.com/.

Graphic Packaging International, Inc.

CONTACT: Investors: Kevin Crum, +1-770-644-3071; or Media: Cindy
Baerman, +1-770-644-3215, +1-404-775-5043 (cell)

Peregrine Pharmaceuticals Regains Full Compliance With Nasdaq Continued Listing Requirements

TUSTIN, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. today announced that on November 3, 2009, the Company received notice from the NASDAQ Market Listing Qualifications Department stating that it has regained compliance with the minimum bid price rule for the continued listing of its common stock on the NASDAQ Capital Market, as set forth in NASDAQ Marketplace Rule 5550(a)(2).

Pursuant to NASDAQ's rules, Peregrine was required to evidence a closing bid price of at least $1.00 per share for 10 consecutive trading days. The letter received from NASDAQ confirms that this requirement has been met and that Peregrine is now in full compliance with all NASDAQ continued listing requirements. As a result, Peregrine's shares will continue to trade on the NASDAQ Capital Market.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials for the treatment of cancer and serious viral infections. The company is pursuing three separate clinical programs in cancer and HCV infection with its lead product candidates bavituximab and Cotara®. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (http://www.avidbio.com/), which provides development and biomanufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at http://www.peregrineinc.com/.

Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Peregrine Pharmaceuticals' intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Factors that could cause actual results to differ materially or otherwise adversely impact the company's ability to obtain regulatory approval for its product candidates include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended April 30, 2009 and the quarterly report on Form 10-Q for the quarter ended July 31, 2009. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Peregrine Pharmaceuticals, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.

Contacts: GendeLLindheim BioCom Partners Investors Media info@peregrineinc.com Barbara Lindheim (800) 987-8256 (212) 918-4650

Peregrine Pharmaceuticals, Inc.

CONTACT: Investors, GendeLLindheim BioCom Partners, 1-800-987-8256,
info@peregrineinc.com; or Media, Barbara Lindheim, +1-212-918-4650, for
Peregrine Pharmaceuticals, Inc.

Web Site: http://www.peregrineinc.com/
http://www.avidbio.com/

ITW Announces Plans to Webcast Presentation for Baird's 2009 Industrial Conference

GLENVIEW, Ill., Nov. 3 /PRNewswire-FirstCall/ -- Illinois Tool Works Inc. today announced plans to webcast its presentation at Robert W. Baird's upcoming 2009 Industrial Conference to be held at the Four Seasons Hotel in Chicago, Illinois. ITW's presentation, featuring Chairman and Chief Executive Officer David B. Speer, will take place Tuesday, November 10, 2009 from 12:40 - 1:10 p.m. CT. The URL for the presentation is:

http://www.wsw.com/webcast/baird10/itw/

With $17.1 billion in 2008 revenues, ITW is a multinational manufacturer of a diversified range of value-adding and short lead-time industrial products and equipment. The Company consists of 895 business units in 54 countries and employs some 59,000 people.

Illinois Tool Works Inc.

CONTACT: John Brooklier of Illinois Tool Works Inc., +1-847-657-4104,
jbrooklier@itw.com

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

Oil Refineries' Major Shareholders Amend Control Agreement Following Impending Acquisition Balance of Carmel Olefins

HAIFA, Israel, November 3 /PRNewswire-FirstCall/ -- Oil Refineries Ltd. (hereinafter: the "Company", "ORL"), Israel's largest oil refiner, announced today that, following its announcement of October 28, 2009 with regards to the signing of the agreement with Israel Petrochemical Enterprises Ltd. (hereinafter: "IPE") to acquire IPE's share in Carmel Olefins Ltd. (hereinafter: "CAOL"), in exchange for the Company's allocating 17.75% of its issued share capital (following the transaction)[1], its major shareholders', the Israel Corporation Ltd. (hereinafter: "Israel Corp.") and IPE, have signed an addendum to the Joint Control Agreement signed June 5, 2009.

The Addendum is subject to receipt of the Israeli Ministers' approval to the Addendum under the Government Companies' Decree (Definition of National Government Interests in Oil Refineries Ltd., 2007), and the control permits granted under it, as well as the allocation to IPE of 431,610,944 of ORL's shares, representing 17.75% of the Company's issued and outstanding share capital, under the above said agreement signed October 27, 2009.

The Addendum addresses the definition of core controlling shares whereby the core controlling shares will be defined as 40% of ORL's issued and outstanding shares, following the said allocation to IPE, 55.625% of which will be held by the Israel Corp. and 44.375% by IPE. The balance of shares by the two shareholders will be deemed free and not bound by the said Addendum.

Furthermore, the Addendum refers to the parties' rights of first refusal, Tag Along rights, Buy-Me-Buy-You rights, Nomination of Directors, Nomination of Managers and Advisors, voting rights on certain manners as well as additional provisions in the instance of selling controlling shares in the Company.

The above describes only highlights of the notice and is not of an comprehensive nature, the translation of the full immediate report issued to the Tel Aviv Stock Exchange and the Israel Securities Authority will be available on the Company's website (http://www.orl.co.il/, under Investor Relations, by November 4, 2009.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's largest oil refinery. ORL operates sophisticated and state-of-the-art industrial facilities with refining capacity of 9.8 million tons of crude oil per year, with a Nelson complexity index of 7.4, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. The Company is also active in the area of Polymers (through Carmel Olefins Ltd.) and Aromatics (through wholly-owned Gadiv Petrochemical Industries Ltd.). ORL is traded on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit the Company's website: http://www.orl.co.il/

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

[1] Following completion of the transaction Israel Corp. will hold approximately 37.08% of the Company, and IPE will hold 30.72%.

Company Contact: Rony Solonicof Chief Economist and Head of Investor Relations Oil Refineries Tel. +972-4-878-8320 ContactIREn@orl.co.il Investor Relation Contacts: Ehud Helft \ Fiona Darmon GK Investor Relations Tel. +1-646-797-2868 \ +972-52-695-4400 info@gkir.com

Oil Refineries Ltd

CONTACT: Company Contact: Rony Solonicof, Chief Economist and Head of
Investor Relations, Oil Refineries, Tel. +972-4-878-8320,
ContactIREn@orl.co.il; Investor Relation Contacts: Ehud Helft \ Fiona Darmon,
GK Investor Relations, Tel. +1-646-797-2868 \ +972-52-695-4400, info@gkir.com

DIRECTV Partners With HDNet and HDNet Movies to Offer On Demand ProgrammingTop satellite service now offers 20 hours of HDNet programming and over 25 movies from HDNet Movies each month to its HD subscribers

DALLAS, Nov. 3 /PRNewswire/ -- HDNet, the independent network delivering all of its programming in true high definition, announced today a deal in which DIRECTV, the nation's No. 1 satellite service, now offers more than 20 hours of HD programming from HDNet, and more than 25 movies from its sister network HDNet Movies, on a video on demand basis every month.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080324/HDNETLOGO) (Logo: http://www.newscom.com/cgi-bin/prnh/20080313/LATH533LOGO)

"HDNet is excited to partner DIRECTV on their VOD offering," said Mark Cuban, chairman and co-founder of HDNet. "Now, HD subscribers will have access to HDNet's critically acclaimed movies, in-depth news, provocative originals and exciting MMA coverage not only on our linear channels but also on a video on demand basis."

"HDNet has been a part of the DIRECTV platform since its debut in 2001 and we are excited to continue to grow our relationship with the launch of its new on demand service," said Dan Hartman, senior vice president of Programming for DIRECTV, Inc. "HDNet's line up of unique movies and sports programming is a perfect addition to the DIRECTV On Demand platform, which offers more than 5,000 titles for customers to choose from."

DIRECTV HD customers will be able to experience the unique and provocative brand of content that HDNet offers, including blockbuster concerts, in-depth news from "Dan Rather Reports", exciting Mixed Martial Arts events from around the globe," "Ring of Honor Wrestling, "New York Confessions," and of course, the exotic travel locals and beautiful women of "Get Out!" and "Bikini Destinations."

The agreement allows DIRECTV customers with HD Access to enjoy HDNet's great, original programming, much of which will be available within 24 hours of its network premiere.

DIRECTV customers who subscribe to the HD Extra Pack will also have access to more than 25 movies from HDNet Movies' slate of top performing, critically acclaimed feature films and box office hits - each and every month. As always, these films will be presented in their original aspect ratio, uncut, unedited and delivered in true high definition.

DIRECTV subscribers can see great films including, "Lost in Translation" starring Bill Murray, "21 Grams," starring Naomi Watts, classics like "Hoosiers" starring Gene Hackman and "Waterworld," starring Kevin Costner, comedies such as "The Nutty Professor" starring Eddie Murphy, and thrillers like "Darkman," starring Liam Neeson and "The Illusionist," starring Edward Norton and many, many more.

The programming provided by HDNet and HDNet Movies on DIRECTV will be refreshed on a weekly basis.

About HDNet

HDNet (http://www.hd.net/, twitter.com/hdnet) is the independent network with unique and provocative content that appeals to men of all ages and is delivered in true high definition.

HDNet is the exclusive, high definition home for popular, original programming, including television's only HD news feature programs "HDNet World Report," and the Emmy Award winning "Dan Rather Reports," featuring legendary journalist Dan Rather. Only HDNet goes beyond the headlines to deliver real news that is redefining the way we look at our world. HDNet News is provocative, sometimes controversial and always relevant - telling the important stories of our time in-depth, with attitude and with independence.

HDNet presents championship sports coverage featuring five regular season games from the Premiere Season of the United Football League. HDNet also features the best of Mixed Martial Arts with its Friday night series, "HDNet Fights" (http://www.hdnetfights.com/, twitter.com/hdnetfights). "HDNet Fights" works with leading MMA promoters including DREAM, Sengoku, XFC, M-1, K-1, K-1 Max, MFC, Adrenaline and more. HDNet produces more live Mixed Martial Arts events than any other network and HDNet's "Inside MMA" is the hottest Mixed Martial Arts program on television, giving MMA fans their weekly fix for everything MMA.

HDNet also delivers the world's largest and most diverse concert line-up through the HDNet Concert Series. The HDNet Concert Series features leading artists and bands including Coldplay, Gwen Stefani, John Mayer and more. HDNet also features revealing lifestyle programming featuring "Art Mann Presents," "New York Confessions," "Deadline" and "Get Out!" HDNet is also the exclusive high definition home to critically acclaimed and award winning documentaries as part of the InFocus series. "NASA on HDNet" presents all live shuttle launches through 2010.

Only HDNet Movies (http://www.hdnetmovies.com/, twitter.com/hdnetmovies) delivers exclusive Sneak Previews of new movies before they hit theaters. The HDNet Movies Sneak Preview series features top Hollywood stars in critically acclaimed performances including Gwyneth Paltrow, Joaquin Phoenix, Demi Moore, Michael Caine, Tom Hanks, Vera Farmiga, Parker Posey, Brian Cox, Matthew Broderick, Brittany Snow, Eric Bana, John Malkovich, Emily Blunt, Robin Williams, Charlize Theron and Kim Basinger.

In addition to being the exclusive home of Sneak Previews, HDNet Movies presents viewers with over one hundred films and an average of twenty-five "HD Premieres" each month. HDNet Movies viewers enjoy the best films from the classics of the 1950s-1970s, to favorite films from the 1980s and 1990s, to recently released theatrical films.

HDNet Movies offers subscribers a premium movie viewing experience in true HD, and more original movies shot entirely in HD than any other network.

Launched in 2001 by Mark Cuban and General Manager Philip Garvin, the HDNet networks are available on AT&T, Charter Communications, Comcast, DIRECTV, DISH Network, Insight, Mediacom, Verizon and more than 40 NCTC cable affiliated companies. To receive HDNet information via email, simply go to http://www.hd.net/listpage.

About DIRECTV, Inc.

DIRECTV, Inc. , the nation's leading satellite television service provider, presents the finest television experience available to more than 18.3 million customers in the United States and is leading the HD revolution with more than 130 HD channels. Each day, DIRECTV subscribers enjoy access to over 265 channels of 100% digital picture and sound, exclusive programming, industry-leading customer satisfaction (which has surpassed national cable companies for nine years running) and superior technologies that include advanced DVR and HD DVR services and the most state-of-the-art interactive sports packages available anywhere. For the most up-to-date information on DIRECTV, please visit directv.com.

Photo: http://www.newscom.com/cgi-bin/prnh/20080324/HDNETLOGO
http://www.newscom.com/cgi-bin/prnh/20080313/LATH533LOGO
http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com HDNet

CONTACT: Colette Carey of HDNet, +1-303-542-5576

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

Electronic Game Card, Inc. Mourns the Passing of its Executive Chairman, The Lord Leonard SteinbergCEO Kevin Donovan and Board Member Eugene Christiansen to serve jointly in the Interim Office of the Chairman

IRVINE, Calif., NEW YORK and LONDON, Nov. 3 /PRNewswire-FirstCall/ -- Electronic Game Card, Inc. (BULLETIN BOARD: EGMI) ("EGC"), announced today with great sadness that the Company's Executive Chairman, Leonard Steinberg, Baron Steinberg of Belfast, died suddenly of a heart attack November 2, 2009 on his 73rd birthday in London, England.

Lord Steinberg was one of Britain's most successful businessmen and one of the most well known personalities in the gaming industry. He founded Stanley Leisure in Belfast in 1958 with one licensed betting shop. Stanley Leisure plc became the largest casino operator and fourth largest retail bookmaker with 600 shops in the United Kingdom.

In 2005 Stanley Leisure's retail bookmaking operations were sold for pounds Sterling 504 million (approximately $1 billion) and returned pounds 327 million (approximately $650 million) to shareholders. In 2006, Stanley Leisure then sold the 45 casinos to Genting International for approximately $1.3 billion.

In addition to his highly successful business career, Lord Steinberg was made a Conservative Life Peer in 2004 and was an active member of the House of Lords in the United Kingdom. He was a well known philanthropist as Founder and Chairman of the Steinberg Family Charitable Trust.

"Leonard's passing gives me much pain and sadness and a tremendous sense of loss for his family, many friends and colleagues. All who knew Leonard greatly admired his wisdom, support and personal approach to relationships. Words cannot describe how much we all respected Leonard and appreciated the opportunity to work closely with him," commented Kevin Donovan, interim Joint Chairman and CEO of Electronic Game Card, Inc. "While we are all deeply saddened with his passing, management, the Board and company consultants will continue to work hard to take this company to the next level, and are accelerating our commitment to growth to honor this great man and the faith he had in us and the future of the company."

Interim Joint Chairman Eugene Christiansen said, "This news has come as a shock to all of us. We are deeply saddened. The Steinberg family is in the midst of their mourning period. The company is convening its Board of Directors to take appropriate actions in light of this unfortunate and untimely development."

For More Information Contact: Yvonne L. Zappulla Managing Director Grannus Financial Advisors, Inc. Call 212-681-4108 e-mail: yvonne@grannusfinancial.com or Kevin Donovan Chief Executive Officer Electronic Game Card, Inc. Call 866-924-2924 e-mail: investor.relations@electronicgamecard.com About Electronic Game Card, Inc.

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

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

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

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

Electronic Game Card, Inc.

CONTACT: Yvonne L. Zappulla, Managing Director, Grannus Financial
Advisors, Inc., +1-212-681-4108, yvonne@grannusfinancial.com; Kevin Donovan,
Chief Executive Officer, Electronic Game Card, Inc., 1-866-924-2924,
investor.relations@electronicgamecard.com

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

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News archive of December 2009
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