General Moly (GMO) Announces Hanlong’s Signing of Memo of Cooperation with EXIM Bank of China

Nov. 18, 2010 (Business Wire) — General Moly (NYSE Amex: GMO) (TSX: GMO) announced that the Company has been informed by Sichuan Hanlong Group (Hanlong) that Hanlong has signed a memo of cooperation over the past weekend with the Export-Import Bank of China, Chengdu branch (CEXIM). The agreement is focused on CEXIM providing up to $1.5 billion in loans to Hanlong to support its investment in overseas mining opportunities.

Under the previously-announced transaction between Hanlong and General Moly, Hanlong will provide a total of $745 million in financing to General Moly including a $665 million bank loan Hanlong will source and guarantee. In addition, Hanlong will purchase a 25% fully-diluted interest in the Company for $80 million in two equal tranches. The first $40 million will be invested for a 12.5% interest in General Moly on December 20, 2010 while the second $40 million will be invested when the Company receives permits for its Mt. Hope project and when the bank loan becomes available. The transaction with Hanlong is expected to provide all remaining capital necessary to place the Mt. Hope project into production.

General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE Amex (formerly the American Stock Exchange) and the Toronto Stock Exchange under the symbol GMO. Our primary asset, our interest in the Mt. Hope project located in central Nevada, is considered one of the world’s largest and highest grade molybdenum deposits. Combined with our second molybdenum property, the Liberty project that is also located in central Nevada, our goal is to become the largest primary molybdenum producer by the middle of the decade. For more information on the Company, please visit our website at http://www.generalmoly.com.

Forward-Looking Statements

Statements herein that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, political, operational and project development risks, including the Company’s ability to obtain required permits to commence production and its ability to raise required financing, adverse governmental regulation and judicial outcomes. The closing of the Hanlong transaction and obtaining bank financing are subject to a number of conditions precedent that may not be fulfilled. For a detailed discussion of risks and other factors that may impact these forward looking statements, please refer to the Risk Factors and other discussion contained in the Company’s quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.

General Moly

Investors:

Seth Foreman, 303-928-8591

sforeman@generalmoly.com

or

Business Development:

Greg McClain, 303-928-8601

gmcclain@generalmoly.com

or

Website: http://www.generalmoly.com

info@generalmoly.com

SuperMedia (SPMD) Connecting Consumers with Local Businesses Year-Round and into the Busy Holiday Season

Nov. 18, 2010 (Business Wire) — Throughout the often-hectic holiday season, consumers around the nation continue to turn to their local business white and yellow pages when searching for area service providers to help with last-minute holiday needs – from plumbers and auto mechanics to painters and contractors.

Superpages not only provides consumers with the ability to research the resources they need to get the job done, it also offers local companies greater opportunities to secure the business needed during a still-challenging economy.

SuperMedia (NASDAQ: SPMD), the advertising agency that gets local businesses across the country seen anytime and anywhere by ready-to-buy shoppers, has found that on a national average, its Superpages directories – featuring the business white pages and yellow pages – are being kept and used by consumers more than in past years.¹

Contributing to this success and differentiating SuperMedia from its competitors is the industry-leading Superpages SuperGuarantee® – a free consumer confidence program. Through the program, SuperMedia backs the work of select service-provider businesses and seeks to resolve any issues a consumer may have with the business or, if unable to resolve the issue, reimburses the consumer up to $500 of the cost of labor for the service.²

Not only are local service providers benefiting by positioning their businesses with the SuperGuarantee as a unique benefit to consumers, SuperMedia clients nationally – on average – are receiving 10 percent more calls this year than last year.³

“We are receiving calls and emails across the country from our clients, thanking us for helping them survive the recession,” said Sandra Crawford Williamson, chief marketing officer at SuperMedia. “Shoppers are working more often with contractors, painters, plumbers, auto mechanics and other service providers because of the backing of the SuperGuarantee appearing in our Superpages directories.”

Forward-Looking Statements

Certain statements included in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Statements that include the words “may,” “will,” “could,” “should,” “would,” “believe,” “anticipate,” “forecast,” “estimate,” “expect,” “preliminary,” “intend,” “plan,” “project,” “outlook” and similar statements of a future or forward-looking nature identify forward-looking statements.

You should not place undue reliance on these statements. These forward-looking statements include statements that reflect the current views of our senior management with respect to our financial performance and future events with respect to our business and industry in general. Forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements.

For a discussion of the risks and uncertainties see SuperMedia’s filings with the Securities and Exchange Commission, which you may view at www.sec.gov, and in particular, SuperMedia Inc’s Annual Report on Form 10-K for the fiscal year ending December 31, 2009 and SuperMedia Inc’s subsequent Quarterly Reports on Form 10-Q.

About SuperMedia LLC

SuperMedia LLC (NASDAQ: SPMD) is the advertising agency for local small- to medium-sized businesses across the United States. SuperMedia specializes in results. Click-here results. Ring-the-phone results. Knock-on-the-door results.

SuperMedia’s advertising solutions and services include: the award-winning SuperGuarantee® program, the SuperTradeExchange® program, the now easy-to-read Superpages directories, published for Verizon®, FairPoint® and Frontier®, Superpages.com®, EveryCarListed.com®, Superpages for your mobile and Superpages direct mail products. For more information, visit www.supermedia.com.

(SPMD-G)

¹ 2009-2010 Possession and Usage Studies – Burke Research.

² Restrictions apply. For full details, see the Terms and Conditions for the SuperGuarantee program at www.superguarantee.com.

³ SuperMedia Marketing Services – Beginning in late 2009 and 1st quarter 2010, call counts began to increase from previous year volumes. 10% average increase YTD 2010 from same period last year.

SuperMedia

Media Relations:

Andrew Shane, 972-453-6473

andrew.shane@supermedia.com

or

Investor Relations:

Cliff Wilson, 972-453-6188

cliff.wilson@supermedia.com

Exelixis (EXEL) Reports Promising Interim Data From Patients With Ovarian Cancer Treated With XL184

Nov. 18, 2010 (Business Wire) — Exelixis, Inc. (NASDAQ:EXEL) today reported interim data from the cohort of patients with advanced epithelial ovarian cancer, primary peritoneal, or fallopian tube carcinoma treated with XL184 in an ongoing phase 2 adaptive randomized discontinuation trial (RDT). Ignace Vergote, M.D., Ph.D., Head of the Department of Obstetrics and Gynaecology and Gynaecologic Oncology at the University Hospital Leuven, Leuven, Belgium will present the data in the Molecular-Targeted Therapies-Clinical Trials poster session (Abstract #407) on Thursday, November 18th, at the 22^nd EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics in Berlin, Germany.

XL184 Activity in Patients with Ovarian Cancer

As of the November 1, 2010 cut-off date, a total of 51 patients were enrolled into the ovarian cancer cohort, with 31 evaluable for response, and 41 evaluable for safety. The median number of prior systemic treatments was 2. Tumor shrinkage was observed in 30 of 37 (81%) patients with measurable metastatic lesions. Of 31 patients evaluable for response per RECIST, 10 (32%) achieved a confirmed partial response (PR). Stable disease (SD) was reported in 15 patients (48%) including 3 patients who achieved unconfirmed PRs. The overall week-12 disease control rate (DCR) was 64%.

Upon subset analysis, 5 of 17 platinum-refractory or -resistant patients (29%) evaluable for response per RECIST achieved a confirmed PR. SD was reported in 7 patients (41%) including 2 patients with unconfirmed PRs. The week-12 DCR was 59% in platinum-resistant/refractory patients. Durable responses have been observed, including 2 patients with platinum-refractory or resistant disease who remain on study for 34+ and 36+ weeks, and 3 patients with platinum-sensitive disease on study for 24, 24+, and 28+ weeks. Some patients have experienced reductions in the ovarian cancer blood marker CA125, but in general no clear concordance between CA125 changes and tumor shrinkage has been observed.

Safety data are available for 49 patients who had at least 6 weeks of follow-up. The most common Grade ≥ 3 adverse events, regardless of causality were PPE syndrome (12%), diarrhea (7%), fatigue, vomiting (each 5%), nausea, rash, abdominal pain, hypertension, and hypomagnesemia (each 2%).

“The activity of XL184 in women with both platinum-sensitive and platinum-resistant/refractory disease is unique and encouraging. The response rate and overall disease control rate of this oral agent are impressive especially in the group of patients with platinum refractory/resistant ovarian cancer, and compare favorably to other targeted and systemic agents in development,” said, Dr. Vergote. “I believe these encouraging data warrant further evaluation of XL184 in ovarian cancer.”

“The high response rate in patients with ovarian cancer is reflective of the broad anti-tumor activity of XL184 observed in multiple tumor types to date,” said Michael M. Morrissey, Ph.D., president and chief executive officer of Exelixis. “The data from the RDT underscore the novel and differentiated clinical activity of XL184 in diverse tumor indications with predominance of either soft tissue or bone involvement.”

To access the clinical data poster mentioned in this press release, please visit www.exelixis.com.

Broad Clinical Activity of XL184 – Randomized Discontinuation Trial

XL184 has demonstrated anti-tumor activity in 9 of 12 indications studied to date. In ongoing trials, compelling activity has been observed in medullary thyroid cancer, glioblastoma, and clear cell renal cancer. In the RDT, XL184 is being evaluated in nine different tumor types, with clear signals of activity in six: prostate, ovarian, hepatocellular, breast, non-small cell lung cancer and melanoma. The adaptive RDT design allowed for rapid simultaneous assessment of the activity of XL184 across nine different tumor indications. As of the November 1, 2010 cut-off date, a total of 397 patients have been enrolled into the nine disease-specific cohorts, with 273 evaluable for response, and 312 evaluable for safety. Of 273 patients evaluable for response per RECIST, 39 achieved a PR (either confirmed or unconfirmed) and 100 had SD at week 12. The week-12 DCR for the overall population was 49%, with the highest rates occurring in hepatocellular cancer (75%), castration-resistant prostate cancer (71%), ovarian cancer (64%), melanoma (45%), non-small cell lung cancer (42%) and breast cancer (42%). Of note, a breast cancer patient with evidence of bone metastasis on bone scan demonstrated evidence of resolution on bone scan accompanied by 29% reduction in tumor size. XL184 has been generally well tolerated with a consistent adverse event profile across the nine different RDT tumor types.

Conference Call and Webcast

A conference call to highlight the data from the six posters presented at the EORTC-NCI-AACR Symposium on the company’s randomized discontinuation trial of XL184 will be held on November 18, at 7:30 a.m. EST / 4:30 a.m. PST. To listen to a webcast of the call, visit the Event Calendar page under Investors at http://www.exelixis.com.

About XL184

XL184, an inhibitor of tumor growth, metastasis and angiogenesis, simultaneously targets MET and VEGFR2, key kinases involved in the development and progression of many cancers, including ovarian cancer. It has recently been shown in preclinical models that treatment with selective inhibitors of VEGF signaling can result in tumors that are more invasive and aggressive compared to control treatment. In preclinical studies, upregulation of MET has been shown to occur in concert with development of invasiveness after selective anti-VEGF therapy, and may constitute a mechanism of acquired or evasive resistance to agents that target VEGF signaling. Accordingly, treatment with XL184 in similar preclinical studies resulted in tumors that were less invasive and aggressive compared to control or selective anti-VEGF treatment. Therefore, XL184 has the potential for improving outcomes in a range of indications, including those where selective anti-VEGF therapy has shown minimal or no activity.

About Exelixis

Exelixis, Inc. is a development-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics for the treatment of cancer. The company is leveraging its biological expertise and integrated research and development capabilities to generate a pipeline of development compounds with significant therapeutic and commercial potential for the treatment of cancer. Currently, Exelixis’ broad product pipeline includes investigational compounds in phase 3, phase 2, and phase 1 clinical development. Exelixis has established strategic corporate alliances with major pharmaceutical and biotechnology companies, including Bristol-Myers Squibb Company, sanofi-aventis, GlaxoSmithKline, Genentech (a wholly owned member of the Roche Group), Boehringer Ingelheim, and Daiichi-Sankyo. For more information, please visit the company’s web site at http://www.exelixis.com.

Forward-Looking Statements

This press release contains forward-looking statements by Exelixis, including, without limitation, statements related to the continued development and clinical and therapeutic potential of XL184. Words such as “encouraging,” “believe,” “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Exelixis’ current plans, assumptions, beliefs and expectations. Forward-looking statements involve risks and uncertainties. Exelixis’ actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the potential failure of XL184 to demonstrate safety and efficacy in clinical testing; Exelixis’ ability to conduct clinical trials of XL184 sufficient to achieve a positive completion; the sufficiency of Exelixis’ capital and other resources; the uncertain timing and level of expenses associated with the development of XL184; the uncertainty of the FDA approval process; market competition and changes in economic and business conditions. These and other risk factors are discussed under “Risk Factors” in Exelixis’ Quarterly Report for the quarter ended October 1, 2010 and Exelixis’ other reports filed with the Securities and Exchange Commission. Exelixis expressly disclaims any duty, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Exelixis’ expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

Exelixis, Inc.

Charles Butler, 650-837-7277

Vice President

Corporate Communications & Investor Relations

cbutler@exelixis.com

DeDe Sheel, 650-837-8231

Associate Director

Investor Relations

Exelixis, Inc.

dsheel@exelixis.com

Verigy (VRGY) and LTX-Credence (LTXC) to Merge, Creating a Leader in Semiconductor Test Solutions

Verigy (NASDAQ: VRGY) and LTX-Credence Corporation (NASDAQ: LTXC) today announced that they have entered into a definitive merger agreement that would create a semiconductor test company with the scale and presence to provide comprehensive solutions to customers across most major semiconductor market segments. The combined company, to be called Verigy, will feature a portfolio of leading semiconductor test systems consisting of innovative and cost-optimized test platforms that address the broad, divergent requirements of the wireless, graphics, computing, automotive, industrial, and entertainment markets.

With an expanded product portfolio, strong share position in target segments and large support network through a direct support team and key strategic partners such as Spirox in Taiwan and China, the new Verigy expects to be well-positioned to deliver significant value to customers, shareholders and employees. By combining two of the industry’s most highly skilled and experienced R&D teams under a common focus and direction, Verigy anticipates creating a stronger, more competitive innovator of test cell solutions that enable semiconductor manufacturers to meet time-to-market and cost-of-test demands.

Verigy president and COO, Jorge Titinger, and LTX-Credence president and CEO, David Tacelli, will serve as co-CEOs of the new company, which will be headquartered in Singapore with U.S. headquarters in Cupertino, California. Verigy chairman and CEO, Keith Barnes, will continue as the chairman of the board of directors, which will be comprised of 12 members, seven designated by Verigy and five by LTX-Credence. Furthermore, to facilitate the leadership change, Keith Barnes will transition from Verigy CEO to Verigy chairman of the board of directors as of Dec. 31, 2010, and Jorge Titinger will be promoted to Verigy CEO and president.

“The two companies share a long legacy of innovation in test solutions that meet customers’ technology needs and enable them to maximize profitability and competitiveness,” said Keith Barnes, Verigy chairman and CEO. “By joining forces, we expect the combined scale to strengthen our global presence, realize significant synergies and provide substantial benefits to our customers, shareholders and employees.”

“Verigy has a well-established presence in the high-performance digital, complex mixed-signal and RF-SOC segments while LTX-Credence has a broad SOC market footprint and expertise in cost-optimized solutions,” said Jorge Titinger, Verigy president and COO. “We expect the combination will enable the new Verigy to drive sustainable long-term growth and shareholder value through the expansion of our product and technology portfolio as well as our existing customer relationships. We are very excited by the possibilities that this new company represents.”

“Strategically, the complementary fit of Verigy and LTX-Credence makes us ideal merger partners, and we believe this combination will position the new Verigy for market leadership in the semiconductor test industry,” said David Tacelli, LTX-Credence president and CEO. “We look forward to working together to build a new company structured for consistent, strong financial performance.”

Transaction Terms

Under the terms of the agreement, the transaction will either be effected through a reorganization where Verigy and LTX-Credence would be wholly owned subsidiaries of Holdco, a newly created subsidiary, or through a merger where LTX-Credence would become a wholly owned subsidiary of Verigy. LTX-Credence shareholders will receive a fixed exchange ratio of 0.96 shares of Verigy stock or Holdco stock for each share of LTX-Credence stock. Upon closing, Verigy or Holdco, as applicable, will issue approximately 49 million shares on a fully diluted basis to complete the transaction. At that time, Verigy and LTX-Credence shareholders will own approximately 56 percent and 44 percent, respectively, of the combined company.

The combined company also expects to realize substantial synergies within one year of the close of the deal, with annual cost savings expected to reach at least $25 million, primarily from increased efficiencies in manufacturing and reduced operating expenses.

The transaction is subject to the approval of shareholders from both companies as well as other customary closing conditions and regulatory approvals. The companies expect the transaction to close in the first half of calendar 2011.

Shares of the combined company will trade on the NASDAQ under the symbol “VRGY.” Morgan Stanley acted as financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal counsel to Verigy. J.P. Morgan acted as financial advisor and WilmerHale acted as legal counsel to LTX-Credence.

Verigy Odd Lot and Repurchase Program

Verigy also announced today its board of directors has authorized an odd lot program that will result in the purchase of approximately 2.3 million shares, or 4 percent of Verigy’s current outstanding shares, from shareholders holding less than 100 shares of the combined company following the transaction. This is expected to simplify the combined company’s capital structure. In addition, Verigy’s board has authorized an annual stock repurchase program of up to 10 percent of the Verigy’s current outstanding shares, effective for approximately 12 months following the transaction. The repurchases are expected to be funded from available cash and short-term investments. The odd lot repurchase and stock repurchase program are both subject to shareholder approval at Verigy’s next shareholder meeting.

Conference Call and Webcast Information

Verigy and LTX-Credence will host a joint teleconference today at 5:30 AM PST to discuss the transaction, which will include formal remarks by Messrs. Barnes, Titinger and Tacelli, followed by a question-and-answer session. Participants should call 1-888-680-0878 (international callers, please use +617-213-4855 and provide the conference code 71343179 to secure a guaranteed line). Interested parties who are not available for the teleconference will have access to a replay of the call from approximately 10:30 AM PST on Nov. 18 until Noon, Dec. 2, 2010. The replay will be accessible by dialing 1-888-286-8010 (international callers, please use +617-801-6888) and entering conference code 11544361. Additionally, the webcast can be accessed at http://investor.verigy.com/ and http://investor.ltx-credence.com/.

About Verigy

Verigy provides advanced semiconductor test systems and solutions used by leading companies worldwide in design validation, characterization, and high-volume manufacturing test. Verigy offers scalable platforms for a wide range of system-on-chip (SOC) test solutions, and memory test solutions for Flash, DRAM including high-speed memories, as well as multi-chip packages (MCP). Verigy also provides advanced analysis tools that accelerate design debug and yield ramp processes. Additional information about Verigy can be found at www.verigy.com.

About LTX-Credence

LTX-Credence is a global provider of ATE solutions designed to deliver value through innovation enabling customers to implement best-in-class test strategies to maximize their profitability. LTX-Credence addresses the broad, divergent test requirements of the wireless, computing, automotive and entertainment market segments, offering a comprehensive portfolio of technologies, the largest installed base in the Asia-Pacific region, and a global network of strategically deployed applications and support resources. Additional information can be found at www.ltxc.com.

Additional Information and Where You Can Find It

This communication may be deemed to be solicitation material in respect of the proposed transaction between Verigy and LTX-Credence. In connection with the transaction, Verigy and Holdco will file a registration statement on Form S-4 with the SEC containing a joint proxy statement/prospectus. The joint proxy statement/prospectus will be mailed to the shareholders of Verigy and LTX-Credence. Investors and shareholders of Verigy and LTX-Credence are urged to read the registration statement and joint proxy statement/prospectus when it becomes available because it will contain important information about Verigy, Holdco, LTX-Credence and the proposed transaction. The registration statement and joint proxy statement/prospectus (when they become available), and any other documents filed by Verigy, Holdco or LTX-Credence with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by Verigy and LTX-Credence by contacting, respectively, Verigy Investor Relations by e-mail at judy.davies@verigy.com or by telephone at 1-408-864-7549 or by contacting LTX-Credence Investor Relations by e-mail at rich_yerganian@ltxc.com or by telephone at 1-781-467-5063. Investors and security holders are urged to read the registration statement, joint proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction. Verigy, LTX-Credence and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from their shareholders in favor of the proposed transaction. Information about the directors and executive officers of Verigy and LTX-Credence and their respective interests in the proposed transaction will be available in the joint proxy statement/prospectus. Additional information regarding the Verigy directors and executive officers is also included in Verigy’s proxy statement for its 2010 Annual Meeting of Shareholders, which was filed with the SEC on February 23, 2010. As of February 12, 2010, Verigy’s directors and executive officers beneficially owned approximately 1,595,151 shares, or 2.7 percent, of Verigy’s ordinary shares. Additional information regarding the LTX-Credence directors and executive officers is also included in LTX-Credence’s proxy statement for its 2011 Annual Meeting of Stockholders, which was filed with the SEC on November 8, 2010. As of September 30, 2010, LTX-Credence’s directors and executive officers beneficially owned approximately 1,940,204 shares, or 3.9 percent, of LTX-Credence’s common stock. These documents are available free of charge at the SEC’s web site at www.sec.gov and from Verigy and LTX-Credence, respectively, at the e-mail addresses and phone numbers listed above.

Cautionary Statement Regarding Forward-Looking Statements

This document contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements contained in this document include the strength of the combined company’s financial position and global presence; future financial and operating results; our expectations about the ability of the combined company to deliver significant value and substantial benefits to our customers, shareholders and employees; the ability of the combined company to be a stronger, more competitive innovator of test cell solutions, to drive sustainable long-term growth and to be a major challenger for leadership in the semiconductor test industry; expectations of meeting customers’ technology needs that enable them to maximize profitability and competitiveness; potential synergies, including the timing of the realization of such synergies; expectations about the combined company’s leadership and board composition; the ability of the combined company to drive and sustain long-term growth and shareholder value; anticipated expansion of product and technology portfolio as well as customer and partner relationships; and other statements regarding the proposed transaction. Any statements that are not statements of historical fact (including statements containing the words “believes,” “should,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. For example, if Verigy and LTX-Credence do not each receive required shareholder approval or the parties fail to satisfy other conditions to closing, the transaction will not be consummated. In any forward-looking statement in which Verigy or LTX-Credence expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: failure of the Verigy and LTX-Credence shareholders to approve the proposed merger; the challenges and costs of closing, integrating, restructuring and achieving anticipated synergies; the ability to retain key employees; and other economic, business, competitive, and/or regulatory factors affecting the businesses of Verigy and LTX-Credence generally, including those set forth in the filings of Verigy and LTX-Credence with the Securities and Exchange Commission, especially in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of their respective annual reports on Form 10-K and quarterly reports on Form 10-Q, their current reports on Form 8-K and other SEC filings. Verigy and LTX-Credence are under no obligation to (and expressly disclaim any such obligation to) update or alter any forward-looking statements as a result of developments occurring after the date of this press release.

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VERIGY CONTACT:
Judy Davies
VP, Investor Relations and Marketing Communications
+1 408-864-7549
Email Contact

LTX-CREDENCE CONTACT:
Rich Yerganian
VP, Investor Relations and Corporate Marketing
+1 781-467-5063
Email Contact

Uranium Energy Corp (UEC) to Ring NYSE Closing Bell to Celebrate the Transition to Uranium Producer

CORPUS CHRISTI, TX, Nov. 18 /PRNewswire/ – Uranium Energy Corp’s (NYSE-AMEX: UEC; the “Company”) President and CEO Amir Adnani will be joined by members of the Company’s management team to ring The Closing Bell® at the New York Stock Exchange on Friday, November 19, at 4:00 p.m., eastern time, to celebrate the Company’s start of uranium production in South Texas.

Mr. Adnani stated, “As announced by the Company yesterday, we have commenced uranium production using in-situ recovery (ISR) methods at the Palangana Project in South Texas. Palangana is the first ISR uranium mine to get into production in the U.S. in more than 5 years, and we are very proud of this achievement. The U.S. is graced with very significant uranium resources in the ground, yet currently imports the overwhelming majority of its uranium requirements for fueling its nuclear power plants. So, we are excited to be the first to initiate the process of revitalizing uranium mining here. This is really just the start of the Company’s major plans for expanding resources and production of uranium in the U.S.”

A live webcast of The Closing Bell, beginning at 3:59 p.m., will be available on the homepage of www.nyx.com.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium production, development and exploration company. The Company’s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery project, which has just initiated first production, and the Goliad in-situ recovery project which is in the final stages of mine permitting for production.  The Company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103

Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.  Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.  ‘This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.  The securities offered and sold in the private placement Offering have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.

Uranium Energy Corp (UEC) Begins Production at Palangana ISR Project

CORPUS CHRISTI, TX – Uranium Energy Corp (NYSE AMEX: UEC; the “Company”) is pleased to announce that the Company has started uranium production using in-situ recovery (ISR) methods at the Palangana Project in South Texas.

Phase I of three separate development phases of the wellfield at Production Area 1 (PAA-1) is 100% complete, with more than 45 injection wells and production wells drilled, cased and tested. The Company is very pleased with the water volume that each well has yielded during the testing phase. Now, gaseous oxygen and carbon dioxide are being added to the circulating ground water, which has activated the mining process of dissolving the uranium from surrounding sandstones.

Amir Adnani, President and CEO, stated, “We are exceedingly proud that Palangana is the first new ISR uranium mine to achieve production in the U.S. in over 5 years. Kudos are due to our many professionals who have been working very hard to reach this important milestone. Palangana is one of the Company’s four projects in South Texas. This initial production is really just the first step in the Company’s regional strategy of greatly expanding resources and production in the re-emerging South Texas Uranium Belt, with the next project, the nearby Goliad ISR project, anticipated to join Palangana as a producing asset next year.”

Harry Anthony, Chief Operating Officer, added, “The next milestone will be the start of regular deliveries of uranium-loaded resin beads to our Hobson processing plant, scheduled to commence before month-end. Shortly thereafter, we will be marketing and delivering yellowcake, the Company’s valuable final product. Hobson is a newly refurbished, state-of-the-art processing plant, and anchors the Company’s South Texas regional strategy with up to 3.0 million pounds of annual capacity.”

Phase 1 of the PAA-1 wellfield is in operation with 30 injection wells and 15 production wells on-line, with each being brought gradually up to maximum flow rates of approximately 50 gallons per minute.

Phases II and III of the PAA-1 wellfield each will contain 45 production and injection wells. All Phase II wells have been completed, and are targeted to commence mining in the first quarter of 2011. Installation of Phase III wells is underway with three rigs actively casing and then completing each well. The Company is scheduling these wells to come on-line and to start production during the second quarter of 2011. The average depth of wells throughout the PAA-1 wellfield is 450 feet.

Uranium Market

The spot uranium price continues to rise, presently at $59.50/lb. U3O8, up from a base set earlier this year just above $40/lb. The term or contract price is $62.00/lb. U3O8. Both prices are quotes from Ux Consulting, an industry price-publishing source. Uranium Energy Corp, as a new uranium-producing company, is ideally positioned with no debt and 100%-unhedged production.

About In-Situ Recovery (ISR) Mining

Uranium Energy Corp is employing in-situ recovery or ISR mining technology at the Palangana uranium project. ISR is injected-solution mining that reverses the natural process that deposited the uranium in the sandstones. On-site ground water is being fortified with gaseous oxygen and introduced to the uranium ore body through a pattern of injection wells. The solution dissolves the uranium from the sandstone host.

The uranium-bearing solution is brought back to surface through production wells where the uranium is concentrated on resin beads for trucking to the Company’s Hobson processing plant to be concentrated further and dried into yellowcake for market. This pattern of injection and recovery wells, plus surrounding monitor wells that serve as a safeguard, is called a wellfield. For more information on ISR mining, visit www.uraniumenergy.com and view the animated video noted on the home page.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium production, development and exploration company. The Company’s fully licensed and permitted Hobson processing facility is central to all of its projects in South Texas, including the Palangana in-situ recovery project, which has just initiated first production, and the Goliad in-situ recovery project which is in the final stages of mine permitting for production. The Company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE-AMEX: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103
Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labour disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.  Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.  ‘This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.  The securities offered and sold in the private placement Offering have not been registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.

ISTA Pharmaceuticals (ISTA) Granted Three-Year Market Exclusivity for BROMDAY

IRVINE, Calif., Nov. 17, 2010 /PRNewswire/ — ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), today announced the U.S. Food and Drug Administration (FDA) has granted the Company three years of marketing exclusivity for BROMDAY™ (bromfenac ophthalmic solution) 0.09%, as provided under the Drug Price Competition and Patent Term Restoration Act, commonly known as the Hatch-Waxman Act.  BROMDAY (formerly referred to as XiDay), the first and only once-daily prescription eye drop for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extraction, was approved by the FDA in October of 2010.  Under the Hatch-Waxman Act, the FDA may not approve an Abbreviated New Drug Application for a generic version of BROMDAY until October of 2013.

ISTA also announced it recently shipped the first orders of BROMDAY to wholesalers and expects BROMDAY to be available in pharmacies beginning the week of November 22, 2010.   The ISTA sales force has begun detailing BROMDAY to ophthalmologists, and the company expects to discontinue the twice-daily XIBROM product in early 2011.

ABOUT BROMDAY

BROMDAY is a once-daily eye drop formulation of a nonsteroidal anti-inflammatory compound for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extraction.  BROMDAY is approved for dosing once-daily beginning one day prior to surgery, on the day of surgery and continuing for the first 14 days after surgery.  Since 2005, ISTA has marketed XIBROM (bromfenac ophthalmic solution)® 0.09% in the U.S. for twice-daily use for the treatment of postoperative inflammation and the reduction of ocular pain in patients who have undergone cataract surgery.  ISTA acquired U.S. ophthalmic rights to bromfenac in May 2002 under a license from Senju Pharmaceuticals Co. Ltd.  XIBROM is the 2010 dollar market share leader in the $335 million U.S. ophthalmic nonsteroidal anti-inflammatory market.  ISTA reported XIBROM net sales of $81.1 million for the year ended December 31, 2009, and net sales of $71 million in the first nine months of 2010, up 29% over the first nine months of 2009.

INDICATIONS AND USAGE

BROMDAY is a nonsteroidal anti-inflammatory drug (NSAID) indicated for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extraction.

DOSAGE AND ADMINISTRATION

Instill one drop into the affected eye(s) once-daily beginning 1 day prior to surgery, continued on the day of surgery and through the first 14 days post-surgery.

DOSAGE FORMS AND STRENGTHS

Topical ophthalmic solution: bromfenac 0.09%

CONTRAINDICATIONS

None

WARNINGS AND PRECAUTIONS

• Sulfite Allergic Reactions
• Slow or Delayed Healing
• Potential for cross-sensitivity
• Increased bleeding of ocular tissues
• Corneal effects including keratitis
• Contact Lens Wear

ADVERSE REACTIONS

The most commonly reported adverse reactions in 2-7% of patients were abnormal sensation in the eye, conjunctival hyperemia and eye irritation (including burning/stinging).

Full prescribing information for BROMDAY is available on ISTA Pharmaceuticals’ website at www.istavision.com/pdf/BROMDAYPI101008.pdf.

ABOUT ISTA PHARMACEUTICALS

ISTA Pharmaceuticals, Inc. is the fourth largest and fastest growing branded prescription eye care business in the United States, with an expanding focus on allergy therapeutics.  ISTA currently markets five products, including treatments for ocular inflammation and pain associated with cataract surgery, glaucoma, and ocular itching associated with allergic conjunctivitis.  The Company’s development pipeline contains additional candidates in various stages of development to treat dry eye, ocular inflammation and pain, and nasal allergies. Headquartered in Irvine, California, the Company generated 2009 revenues of $111 million.  For additional information about ISTA Pharmaceuticals, please visit the corporate website at www.istavision.com.

BROMDAY™ (bromfenac ophthalmic solution) 0.09% and XIBROM (bromfenac ophthalmic solution)® 0.09% are trademarks of ISTA Pharmaceuticals, Inc.

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 related to when BROMDAY might be available in pharmacies and ISTA’s intention to discontinue marketing and selling XIBROM in 2011 are forward-looking statements.  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, delays and uncertainties related to the FDA or other regulatory agency approval or actions 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, 2009, and its Quarterly Report on Forms 10-Q for the quarters ended March 3, June 30 and September 30, 2010.

China Medical Technologies (CMED) Reports Second Fiscal Quarter Financial Results

BEIJING, Nov. 17, 2010 /PRNewswire-Asia-FirstCall/ — China Medical Technologies, Inc. (the “Company”) (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic (“IVD”) company, today announced its unaudited financial results for the second fiscal quarter ended September 30, 2010 (“2Q FY2010”).

2Q FY2010 Highlights

• Revenues increased by 21.5% year-over-year to RMB201.8 million (US$30.2 million).
• Non-GAAP net income, as defined below, increased 270.1% year-over-year to RMB65.4 million (US$9.8 million).
• Non-GAAP diluted earnings per ADS*, as defined below, increased 273.1% year-over-year to RMB2.50 (US$0.37).
• Adjusted EBITDA, as defined below, increased 62.6% year-over-year to RMB116.3 million (US$17.4 million).
• Net cash generated from operations was RMB67.3 million (US$10.1 million).

Outlook for 3Q FY2010

• Target revenues are expected to be not less than RMB220.0 million (US$32.9 million), representing a year-over-year increase of not less than 27.7%.
• Target non-GAAP net income is expected to be not less than RMB74.0 million (US$11.1 million), representing a year-over-year increase of not less than 62.2%.
• Target non-GAAP diluted earnings per ADS* is expected to be not less than RMB2.82 (US$0.42), representing a year-over-year increase of not less than 62.1%.

Outlook for FY2010

• Target revenues are expected to be not less than RMB846.0 million (US$126.4 million), representing a year-over-year increase of not less than 17.0%. The year-over-year increase of annual revenues for FY2010 is lower than that of 3Q FY2010 because of the 10.9% year-over-year decrease in quarterly revenues of 1Q FY2010.
• Target non-GAAP net income is expected to be not less than RMB280.0 million (US$41.9 million), representing a year-over-year increase of not less than 49.5%.
• Target non-GAAP diluted earnings per ADS* is expected to be not less than RMB10.69 (US$1.60), representing a year-over-year increase of not less than 49.9%.

The above targets are based on the Company’s current views on the operating and market conditions, which are subject to change.

*One American Depositary Share (“ADS“) = 10 ordinary shares

See “Non-GAAP Measure Disclosures” below, where the impact of certain items on reported results is discussed.

“We are pleased to see the commencement of contribution from sales of HPV-DNA chips which are expected to become another main revenue stream and an important growth driver in addition to our FISH business during the next few years. We have received strong interest in our SPR equipment from many of our top tier hospital customers and significant purchase orders on our chips from hospitals which have used our chips for their patients on a regular basis. We expect substantial growth on sales of our chips in upcoming quarters. In addition, our FISH business continued its growth momentum and our ECLIA business has resumed year-over-year growth,” commented Mr. Xiaodong Wu, Chairman and Chief Executive Officer of the Company.

2Q FY2010 Unaudited Financial Results

The Company reported revenues of RMB201.8 million (US$30.2 million) for 2Q FY2010, representing a 21.5% increase from the corresponding period of FY2009.

The Company’s revenues are currently generated from two segments, molecular diagnostic systems and immunodiagnostic systems. The molecular diagnostic system segment includes FISH products and SPR products while the immunodiagnostic system segment consists of ECLIA products.

Molecular diagnostic system sales for 2Q FY2010 were RMB118.3 million (US$17.7 million), representing a 32.6% increase from the corresponding period of FY2009. The year-over-year increase was primarily due to the increase in usage of the Company’s FISH probes by existing and new hospital customers served by the Company’s direct sales personnel as well as the sales of SPR-based HPV-DNA chips of RMB3.8 million (US$0.6 million) to hospitals during 2Q FY2010.

Immunodiagnostic system sales for 2Q FY2010 were RMB83.5 million (US$12.5 million), representing an 8.7% increase from the corresponding period of FY2009. The year-over-year increase was primarily due to the increase in sales of the Company’s ECLIA reagent kits to existing and new distributors.

Gross margin was 55.2% for 2Q FY2010 which decreased year-over-year from 65.4% for the corresponding period of FY2009. Due to the commencement of sales of HPV-DNA chips, the amortization of SPR intangible assets amounted to RMB27.3 million (US$4.1 million) was classified from operating expenses to cost of revenues starting from 2Q FY2010. The year-over-year decrease in gross margin was primarily due to this change in classification. The gross margin for 2Q FY2010 would be 68.6% without this change in classification of expense.

Research and development expenses were RMB10.9 million (US$1.6 million) for 2Q FY2010, representing a 14.5% year-over-year increase. The year-over-year increase was primarily due to product research and development for FISH probes and SPR chips.

Sales and marketing expenses were RMB21.5 million (US$3.2 million) for 2Q FY2010, representing a 23.2% year-over-year increase. The year-over-year increase was primarily due to the increase in direct sales efforts for molecular diagnostic systems.

General and administrative expenses were RMB25.0 million (US$3.7 million) for 2Q FY2010, representing a 44.5% year-over-year decrease. The year-over-year decrease was primarily due to no cost of independent internal investigation and lower allowance for doubtful accounts for 2Q FY2010.

Interest expense on convertible notes was RMB32.0 million (US$4.8 million) for 2Q FY2010. As of September 30, 2010, the Company’s outstanding convertible notes of US$135 million and US$248 million bear interest at 3.5% and 4% per annum, respectively, and will mature in November 2011 and August 2013, respectively.

Interest expense on amortization of convertible notes issuance costs was RMB3.9 million (US$0.6 million) for 2Q FY2010.

Interest expense on amortization of share lending costs was RMB2.5 million (US$0.4 million) for 2Q FY2010.

Income tax expense was RMB21.8 million (US$3.3 million) for 2Q FY2010. The significant income tax expense was primarily because certain expenses of the Company such as stock compensation expense, amortization of acquired intangible assets and interest expense of convertible notes were not deductible for income tax purpose. In addition, the Company was required to accrue for withholding income tax on distributable earnings generated in China during 2Q FY2010.

Net loss was RMB2.9 million (US$0.4 million) for 2Q FY2010, representing a 94.1% decrease from the corresponding period of FY2009. The significant year-over-year decrease in net loss was primarily due to growth in molecular diagnostic system sales and recovery from immunodiagnostic system sales.

Non-GAAP net income, as defined below, was RMB65.4 million (US$9.8 million) for 2Q FY2010, representing a 270.1% increase from the corresponding period of FY2009.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) was RMB107.1 million (US$16.0 million) for 2Q FY2010, representing a 66.8% increase from the corresponding period of FY2009.

Adjusted EBITDA, which excludes stock compensation expense and gain on purchase of convertible notes from EBITDA, was RMB116.3 million (US$17.4 million) for 2Q FY2010, representing a 62.6% increase from the corresponding period of FY2009.

Stock compensation expense for 2Q FY2010 was RMB9.2 million (US$1.4 million), of which RMB0.1 million was allocated to cost of revenues, RMB1.1 million to research and development expenses, RMB0.2 million to sales and marketing expenses and RMB7.8 million to general and administrative expenses. The Company approved the grant of 2,100,000 restricted stock, equivalent to 210,000 ADSs, to directors, officers and certain employees on November 5, 2010. The restricted stock vests at the end of a three-year period.

Amortization of acquired intangible assets for 2Q FY2010 was RMB49.4 million (US$7.4 million) which was all allocated to cost of revenues.

As of September 30, 2010, the Company’s cash and cash equivalents was RMB805.9 million (US$120.5 million). Net cash generated from operating activities for 2Q FY2010 was RMB67.3 million (US$10.1 million). Net cash used in investing activities for 2Q FY2010 was RMB1.2 million (US$0.2 million). There was no financing activity for 2Q FY2010.

As of September 30, 2010, the Company’s net accounts receivable was RMB333.1 million (US$49.8 million), representing an increase of 7.0% from the balance at June 30, 2010.

For the convenience of readers, certain RMB amounts have been translated into U.S. dollars at the rate of RMB6.6905 to US$1.00, the noon buying rate in New York City for cable transfers of RMB per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board, as of Thursday, September 30, 2010. No representation is made that the RMB amounts could have been or could be converted into U.S. dollars at that rate or at any other rate on September 30, 2010 or at any other dates.

Update on Receivable from Chengxuan

The receivable of US$30 million from Chengxuan, one of the Company’s major shareholders and owned by Mr. Xiaodong Wu, is due on December 31, 2010 which relates to the sale of the Company’s HIFU business to Chengxuan. Chengxuan made an early payment of US$8 million to the Company in November 2010 and has indicated to the Company that the remaining amount will be paid on or before December 31, 2010.

Non-GAAP Measure Disclosures

The Company provides gross profit, operating income, net income, earnings per ADS, EBITDA and adjusted EBITDA on a Non-GAAP basis to enable investors to better assess the Company’s operating performance. The Non-GAAP measures described by the Company are reconciled to the corresponding GAAP measures in the exhibit below titled “Reconciliations of GAAP measures to Non-GAAP measures”.

The Company reported for 2Q FY2010 and provided estimates of net income and diluted earnings per ADS for 3Q FY2010 and full year FY2010 on a Non-GAAP basis. Each of the terms used by the Company is defined as follows:

• Non-GAAP gross profit represents gross profit reported in accordance with GAAP, adjusted for the effects of stock compensation expense and amortization of acquired intangible assets.
• Non-GAAP operating income represents operating income reported in accordance with GAAP, adjusted for the effects of stock compensation expense and amortization of acquired intangible assets.
• Non-GAAP net income represents net income reported in accordance with GAAP, adjusted for the effects of stock compensation expense, amortization of acquired intangible assets, non-cash interest expense of convertible notes, non-cash interest expense for amortization of share lending costs and gain on purchase of convertible notes.
• Non-GAAP earnings per ADS represents Non-GAAP net income divided by the weighted average number of ADSs used in computing basic and diluted earnings per ADS in accordance with GAAP.
• EBITDA represents net income reported in accordance with GAAP, adjusted for the effects of interest income, interest expenses, income tax expense, depreciation as well as amortization of acquired intangible assets.
• Adjusted EBITDA represents EBITDA adjusted for the effects of stock compensation expense and gain on purchase of convertible notes.

Non-GAAP financial measures are used by the Company in its financial and operating decision-making because management believes they reflect the Company’s ongoing business in a manner that allows meaningful period-to-period comparison. The Company’s management believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the Company’s current operating performance and future prospects in the same manner as management does, if they so choose.

The presentation of this additional financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the financial information included with this earnings announcement.

Conference Call

The Company’s senior management team will host an earnings conference call at 8:00 a.m. U.S. Eastern Time on November 17, 2010 (or 9:00 p.m. Beijing/Hong Kong time on the same date) to discuss the results following this earnings announcement.

The dial-in details for the live conference call are as follows:

A live webcast of the conference call will be available on http://ir.chinameditech.com.

A replay of this webcast will be available for one month on this website.

A telephone replay of the call will be available after the conclusion of the conference call through 10:00 a.m. U.S. Eastern Time on November 18, 2010.

The dial-in details for the replay are as follows:

About China Medical Technologies, Inc.

China Medical Technologies, Inc. is a leading China-based advanced IVD company using molecular diagnostic technologies including Fluorescent in situ Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay (ECLIA), to develop, manufacture and distribute diagnostic products used for the detection of various cancers, diseases and disorders as well as companion diagnostic tests for targeted cancer drugs. The Company generates all of its revenues in China through the sale of diagnostic consumables including FISH probes, SPR-based DNA chips and ECLIA reagent kits to hospitals which are recurring users of the consumables for their patients. The Company sells FISH probes and SPR chips to large hospitals through its direct sales force and ECLIA reagent kits to small and mid-size hospitals through distributors. For more information, please visit http://www.chinameditech.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release, as well as its outlook for 3Q FY2010 and full year FY2010, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Allegheny Technologies (ATI) To Acquire Ladish (LDSH)

Nov. 17, 2010 (Business Wire) — Allegheny Technologies Incorporated (NYSE: ATI) and Ladish Co., Inc. (NASDAQ: LDSH) today announced that they have entered into a definitive merger agreement whereby ATI will acquire Ladish for an aggregate fully distributed equity value of approximately $778 million. Ladish shareholders will receive $24.00 in cash and 0.4556 of a share of ATI common stock for each share of Ladish common stock. Based on the volume weighted average price of ATI common stock over the last 10 trading days ending November 16, 2010, the aggregate consideration on a fully diluted basis is $48.00 per Ladish share. The transaction is subject to normal closing conditions, including approval by Ladish shareholders, and is expected to be completed in early 2011.

“ATI’s unique industry-leading product portfolio combined with Ladish’s technologically advanced forging, investment casting, and machining capabilities creates a more integrated, stable, and sustainable supply chain for the aerospace, defense, and industrial markets,” said L. Patrick Hassey, ATI’s Chairman and Chief Executive Officer.

“We like the people, the technology, and the market position of Ladish. Our strategy is to build unsurpassed manufacturing capabilities and develop innovative new products that add value for our customers. With this strategic acquisition, we leverage these capabilities to forward integrate and better position ATI to capitalize on secular growth trends in our key markets.

“Ladish expects sales of approximately $400 million in 2010 and anticipates that sales will continue to grow with the aerospace market recovery. In addition, we believe at least $100 million of sales can be added through market synergies. We expect this acquisition to generate positive cash flow to ATI immediately after the transaction closes. We expect the acquisition to be accretive to earnings after the first year.”

Gary J. Vroman, Ladish President and CEO said, “We have been preparing and positioning our company for market growth. Highly skilled people are trained and in place, and our equipment is ready to go. Integrating Ladish’s manufacturing operations with ATI’s broad product range of specialty metals immediately enhances our ability to serve our existing customer base. Beyond that, there are new markets now well within our reach that were previously a stretch for us. Without question, this merger significantly improves the long-term outlook for Ladish. We are looking forward to what the future will bring for our 1,700 dedicated employees in the United States and Poland.”

ATI will conduct a conference call at 10:00 a.m. today with investors and analysts to discuss this acquisition. To access the conference call, dial 866-770-7125 (for domestic callers) and 617-213-8066 (for international callers) and enter the password 57508354 when prompted. The conference call will be broadcast live on www.ATImetals.com. To access the call, click on “Conference Call”. Replay of the conference call will be available on the Allegheny Technologies website.

ATI will not be presenting at today’s Dahlman Rose investor conference that was previously announced and was scheduled to be held at 9:15 a.m. (ET).

Allegheny Technologies Incorporated is one of the largest and most diversified specialty metals producers in the world with revenues of $3.8 billion for the twelve months ending September 30, 2010. ATI has approximately 8,900 full-time employees world-wide who use innovative technologies to offer global markets a wide range of specialty metals solutions. Our major markets are aerospace and defense, oil and gas/chemical process industry, electrical energy, medical, automotive, food equipment and appliance, machine and cutting tools, and construction and mining. Our products include titanium and titanium alloys, nickel-based alloys and superalloys, grain-oriented electrical steel, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, and forgings and castings. The Allegheny Technologies website is www.ATImetals.com.

Ladish Co., Inc. is a leading producer of highly engineered, technically advanced metal components for the jet engine, aerospace and general industrial markets. Ladish is headquartered in Cudahy, WI with operations in Wisconsin, California, Connecticut, Oregon, and Poland. Ladish common stock trades on Nasdaq under the symbol LDSH.

Important Information for Investors and Security Holders

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. ATI will file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 that will include a proxy statement of Ladish that also constitutes a prospectus of ATI. ATI and Ladish also plan to file other documents with the SEC regarding the proposed transaction. A definitive proxy statement/prospectus will be mailed to shareholders of Ladish.

INVESTORS AND SHAREHOLDERS OF LADISH ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

Investors and security holders of ATI and Ladish may obtain these documents (and any other documents filed by ATI or Ladish with the SEC) free of charge at the SEC’s website at www.sec.gov. In addition, the documents filed with the SEC by ATI may be obtained free of charge by directing a request to: Allegheny Technologies Incorporated, 1000 Six PPG Place, Pittsburgh, Pennsylvania 15222-5479, Attention: Corporate Secretary, or from ATI’s website at www.atimetals.com. The documents filed with the SEC by Ladish may be obtained free of charge by directing a request to: Ladish Co., Inc. 5481 S. Packard Avenue, Cudahy, Wisconsin 53110, Attention: Wayne E. Larsen, Vice President Law/Finance and Secretary.

ATI, Ladish their respective directors and certain of their executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Ladish in connection with the proposed transaction. Information about the directors and executive officers of ATI is set forth in its proxy statement for its 2010 annual meeting of stockholders, which was filed with the SEC on April 2, 2010. Information about the directors and executive officers of Ladish is set forth in its proxy statement for its 2010 annual meeting of shareholders, which was filed with the SEC on March 15, 2010.

Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risk and uncertainties, and actual results or events may differ materially from those projected or implied in those statements. Examples include statements regarding the parties’ ability to consummate the proposed transaction and timing thereof, the benefits and impact of the proposed transaction, including effects on cash flow or earnings, the combined company’s ability to achieve the synergies and value creation that are contemplated by the parties, ATI’s ability to promptly and effectively integrate Ladish’s business, and the diversion of management time on transaction-related issues. Additional examples of forward-looking statements include information concerning ATI’s, Ladish’s or the combined company’s outlook, anticipated revenues or results of operations, and the anticipated benefits expected to be realized in connection therewith, as well as any other statement that does not directly relate to any historical or current fact.

These forward-looking statements often include words such as “believe,” “expect,” “project,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “would,” “should,” “could,” “forecast” or similar expressions. These statements are based on certain assumptions that ATI and Ladish have made in light of their experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that they believe are appropriate in these circumstances. ATI and Ladish believe these judgments are reasonable, but you should understand that no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial conditions of ATI, Ladish or the combined company, due to a variety of important factors, both positive and negative. Among other items, such factors could include the ability of the parties to obtain all necessary regulatory consents to the proposed transaction; the overall strength and stability of general economic conditions, both in the United States and in global markets, including the timing and strength of the current recovery; the effect of significant changes in the competitive environment, including as a result of industry consolidation, and the effect of competition in the parties’ respective markets; their ability to achieve cost savings and efficiencies and realize opportunities to increase productivity and profitability; their ability to accurately estimate future levels of business activity and adjust operations accordingly; impact of a major disruption in their communication or centralized information networks or payment systems; and changes in the existing, or the adoption of new, laws, regulations, policies or other activities of governments, agencies and similar organizations where such actions may materially affect their operations or the cost thereof.

ATI and Ladish caution you that you should not rely unduly on these forward-looking statements, which reflect their current beliefs and are based on information currently available. Neither ATI nor Ladish undertakes any obligation to update or revise any forward-looking statements as of any future date. Additional information concerning these statements and other factors can be found in ATI’s and Ladish’s filings with the SEC, including the respective Annual Reports on Form 10-K, the quarterly reports on Form 10-Q, current reports on Form 8-K and other documents ATI or Ladish have filed.

New Energy Systems Group (NEWN) Reports 236% Increase in Revenue

SHENZHEN, China, Nov. 16, 2010 /PRNewswire-Asia-FirstCall/ — New Energy Systems Group (NYSE Amex: NEWN) (“New Energy” or the “Company”), a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems, today announced financial results for the third quarter ended September 30, 2010.

Third Quarter 2010 Highlights

• Revenue increased 236.0% to $26.4 million
• Gross profit increased 197.0% to $7.2 million
• Net income increased 112.3% to $4.3 million
• Non-GAAP adjusted net income increased 160% to $5.1 million and non-GAAP adjusted EPS increased 24.2% to $0.41, despite higher tax rate and higher share count

Mr. Jack Yu, Chairman of New Energy stated, “I’m very pleased to report that we experienced strong organic growth in all of our business segments. We also generated strong growth in adjusted EPS despite a higher tax rate and a higher share count. With the increasing popularity of portable electronic devices and particularly Apple’s mobile devices, demand for our products remains very strong and is projected to remain strong for the foreseeable future. We have transformed our company into a fully integrated manufacturer that is now well-positioned to benefit from the growing worldwide demand for portable advanced technology products and the energy demands they require.  Currently, the vast majority of our products are sold and consumed in China, a market which is benefiting from increasing consumer spending for higher end consumer electronics like smart phones.  While we continue to see very attractive growth opportunities in China, we are also selectively pursuing sales opportunities in very large markets in North America, Europe and Asia.  Importantly, we continue to generate strong free cash flow from operations, which has enabled us to repay most of our debt. As of Sept 30, 2010 we had $8.9 million of cash and cash equivalents and only $0.5 million of debt.  This healthy balance sheet and strong cash flows from operations minimizes our need to raise equity and allows us to opportunistically make acquisitions such as the accretive acquisition of Kim Fai Solar Energy Technology., Ltd., which we announced last week.”

Revenue for the three months ended September 30, 2010 totaled $26.4, an increase of 236% year over year.  The acquisitions of Anytone® and New Power in December of 2009 and January of 2010, respectively, accounted for 80% of this revenue increase while organic revenue from E’Jenie increased 20%.

In the third quarter of 2010, Anytone® product sales, which include products “made for” Apple mobile devices and other leading consumer electronics manufacturers, contributed $12.1 million, or 45.6% of sales.  New Power battery cells sold to cell phone and handheld device manufacturers in China contributed $9.3 million to revenue in the quarter, representing approximately 35.3% of sales. E’Jenie’s battery cap and shell sales contributed $2.2 million, representing approximately 8.6% of revenue for the quarter.  New Energy believes that it has successfully integrated both acquisitions and achieved significant synergies and cost savings.

Gross profit in the third quarter of 2010 was $7.2 million, an increase of 197.0% year over year.  Gross margin for the period was 27.4%.

Operating expenses for the three months ended September 30, 2010 were $1.6 million and were 6% of sales.  The two newly acquired subsidiaries increased operating expenses by $1.1 million during the period which was mostly the result of non-cash depreciation and amortization expenses of $0.9 million for the period.  General and administrative expenses for the three months ended September 30, 2010 were $1.5 million compared to $0.1 million for the same period in 2009 due to the combination of the newly acquired subsidiaries, which added $0.9 million of non-cash expenses relating to amortization and stock based equity compensation.  Operating income for the quarter was $5.6 million, an increase of 148.6% year-over-year.

Net income for the quarter was $4.3 million, a 112.3% increase from $2.0 million for the three months in 2009.  GAAP diluted earnings per share were $0.34.  Excluding non-cash charges of $0.9 million for the period, the Company reported non-GAAP adjusted net income and non-GAAP adjusted earnings per share of $5.2 million and $0.41 in EPS for the three month period ended September 30, 2010.

Revenue for the nine months ended September 30, 2010 totaled $72.2 million, versus $15.9 million, an increase of 355% year-over-year.  The increase was primarily due to the acquisitions of Anytone® and New Power acquired in December of 2009 and January of 2010 respectively. Anytone® sales contributed $33.1 million in sales, representing approximately 45.8% of sales. NewPower battery cell sales contributed $25.3 million to battery cell revenues in the quarter, representing approximately 35.3% of sales. E’Jenie’s battery cap and shell sales contributed $7.8 million, an increase of 80.0% over 2009, and accounted for 10.8% of revenue during the nine month period.

Gross profit for all three business segments for the period was $19.8 million, an increase of 315.7% year-over-year.  Increases in gross profit were attributed to additional profits from the acquisitions of Anytone and NewPower.  Gross profit margins were 27.4%.

Sales, general and administrative expenses for the nine months ended September 30, 2010 were $4.7 million compared to $0.4 million for the same period in 2009 as a result of the newly acquired business units. In addition, the Company recorded $2.6 million in non-cash amortization and stock-based compensation in nine month period.

Net income for the period was $11.6 million, a 201.5% increase from $3.9 million for the nine months in 2009.  GAAP earnings per share were $0.92 per 12.6 million fully diluted shares outstanding.  Non-GAAP adjusted net income was $14.2 million with earnings per shares or $1.13, increases of 263.0% and 79.4% respectively.

Use of Non-GAAP Financial Measures

GAAP results for the three months and nine months ended September 30, 2010 include non-cash charges related to amortization and stock-based compensation. To supplement the Company’s condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information excluding the impact of these items in this release. It is a departure of U.S. GAAP; however, the Company’s management believes that this non-GAAP measure provides investors with a better understanding of how the results relate to the Company’s historical performance. A reconciliation of the adjustments to GAAP results appears in the table accompanying this press release. This additional non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from the non-GAAP information provided by other companies.

Adjusted Earnings Table

Due to the effects of non-cash expenses relating to amortization and stock-based compensation, New Energy reports GAAP and non-GAAP adjusted net income and earnings per share.  The Company believes non-GAAP adjusted income and non-GAAP adjusted earnings per share more properly reflect the performance of its operations.

Financial Condition

As of September 30, 2010, the Company had $8.9 million in cash and cash equivalents, up from $3.7 million as of December 31, 2009; accounts receivable was $18.8 million, compared to $9.8 million as of December 31, 2009.  Inventories were $2.1 million compared to $0.5 million at December 31, 2009. The Company had only $0.5 million of debt.  Cash flow from operations was $11.5 million for the nine months ended September 30, 2010 versus $4.7 million in the same period prior year.

Full Year 2010 Guidance

Based on the strong results through the first nine months of 2010, the Company expects to exceed its prior guidance of $88 million of revenues, $15.6 million of non-GAAP adjusted net income, and $1.23 of non-GAAP adjusted earnings per share, respectively, for the full year 2010. Management is currently evaluating its financial forecast for the remainder of the year, including the impact from the recently announced Kim Fai Solar Energy acquisition, and will provide an update as soon as the process is complete.

Business Updates

On November 12, 2010, New Energy announced the acquisition of Kim Fai Solar Energy Technology, Co. Ltd. (“Kim Fai“) for $24 million in cash and stock. Kim Fai is a manufacturer of consumer, commercial and residential solar energy and battery systems, including remote battery products for handheld communication and computing devices. New Energy expects Kim Fai to add approximately $24 million of revenue and $5 million of net income in 2011.

Conference Call

To attend the call, please use the dial-in information below.  When prompted, ask for the “New Energy Call” and/or be prepared to provide the conference ID.

Please dial in at least 10 minutes before the call to ensure timely participation. A playback will be available through November 21, 2010. To listen, please call 1-877-870-5176 within the United States or 1-858-384-5517 if calling internationally. Utilize the pass code 4385382 for the replay.

About New Energy Systems Group

New Energy Systems Group is a vertically integrated original design manufacturer and distributor of lithium ion batteries and backup power systems for mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. The company’s end-user consumer products are sold under the Anytone® brand in China, and the company has begun expanding its international sales efforts. The fast pace of new mobile device introductions in China combined with a growing middle class make it fertile ground for New Energy’s end-user consumer products, as well as its high powered, light weight lithium ion batteries. In addition to historically strong organic growth, New Energy is expected to benefit from economies of scale, broader distribution, greater production capacity and higher profit margins in 2010. Additional information about the company is available at: www.newenergysystemsgroup.com.

Forward Looking Statements

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

(tables to follow)

IsoRay, Inc. (ISR) Announces First Quarter Fiscal Year 2011 Results

RICHLAND, Wash.–(BUSINESS WIRE)– IsoRay Inc. (AMEX:ISR) the exclusive manufacturer of Cesium-131 used in internal radiation therapy (brachytherapy) for the treatment of lung, brain, colon, head and neck, ocular melanoma, and prostate cancer as well as cancers throughout the body due to its proprietary radioisotope technology, announced its financial results for the quarter ended September 30, 2010.

In first quarter of fiscal year 2011, 93% of revenue was generated from the sales of Cesium-131 (Cs-131) brachytherapy seeds for the treatment of prostate cancer. The additional 7% of revenue was generated by sales for the treatment of lung, head and neck, ocular and colon cancer. This is an increase of 193% in non-prostate cancer treatment revenue over the first quarter of fiscal year 2010. The Company had cash and cash equivalents of $1,024,569 as of September 30, 2010.

IsoRay Chairman and CEO Dwight Babcock commented, “Our first fiscal quarter has seen significant developments that point to our gaining traction in the medical community’s adoption of Cesium-131 for the treatment of cancers throughout the body. Our recently announced lung cancer study and the breast cancer feasibility study are milestone achievements and we expect these advancements to set the tone for the year ahead. In addition, we have high expectations for the progress we are seeing in our research and development work building on IsoRay’s acquisition of the GliaSite® radiation therapy system, the world’s only FDA-cleared balloon catheter device used in the treatment of brain cancer.”

Mr. Babcock’s comments highlight two key announcements made during the first quarter of fiscal year 2011. The company announced the initiation of a multi-institutional study of Cesium-131 internal radiation therapy for use in Non Small Cell Lung Cancers (NSCLC). A number of institutions and physicians will be working to collect scientific data to further the use of IsoRay’s patented Cesium-131 in conjunction with surgery for NSCLC. The study expands participation in the application of IsoRay’s breakthrough internal radiation treatment. It allows doctors to aggressively treat lung cancer using a single procedure upon tumor removal and is already demonstrating its impact as a new vital weapon in the war on cancer. The implications of this announcement are significant because lung cancer continues to be the leading cause of cancer deaths worldwide. This year alone, an estimated 225,000 cases of lung cancer will be diagnosed of which some 80% will be Non Small Cell Lung Cancer.

The Company also announced it has completed an initial feasibility study which demonstrates the ability to use its patented Cesium-131 internal radiation therapy in accelerated partial breast irradiation (APBI) for breast cancer treatment. APBI is one of the most exciting, emerging treatments available today for early stage, localized breast cancer. This new application of Cesium-131 will have a significant impact on breast cancer and improve the quality of life for many women who are battling the devastating disease.

Mr. Babcock reiterated that IsoRay remains uniquely positioned as the brachytherapy isotope provider of choice due to the unique characteristics of Cesium-131. Its high energy and short half-life remain important distinctions compared to IsoRay’s competitors in low dose rate brachytherapy who are treating prostate cancer only.

In other developments in the first fiscal quarter of 2011, IsoRay has successfully moved forward with its initiative to expand awareness of its landmark Cesium-131 treatment. In the first phase of this effort, IsoRay CEO Dwight Babcock was interviewed by three prestigious media outlets including Washington, D.C.’s highly regarded news and information station, WTOP, the Georgia News Network and the nationally acclaimed American Urban Radio Network with its more than 26 million listeners.

At the annual meeting of the American Society for Therapeutic Radiation and Oncology (ASTRO), the premier medical society for radiation oncologists and other members of the radiation therapy treatment team, Cesium-131 was featured in 4 presentations at the annual meeting in October of this year.

About IsoRay, Inc.

IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc., is the exclusive producer of Cesium-131 internal radiation therapy, which is expanding brachytherapy options throughout the body. Learn more about this innovative Richland, Washington company and explore the many benefits and uses of Cesium-131 by visiting www.isoray.com.

Safe Harbor Statement

Statements in this news release about IsoRay’s future expectations, including: the advantages of our Cesium-131 seed, future demand for IsoRay’s existing and planned products, whether the increase in non-prostate cancer treatment revenue seen in the first quarter of fiscal 2011 as compared to the first quarter of fiscal 2010 will continue in the future, whether revenue will increase in future periods, whether IsoRay will be able to expand its base beyond prostate cancer, whether IsoRay’s Cesium-131 seed will be used to treat additional cancers and malignant disease, whether Cesium-131 will be able to be used for APBI in human patients, whether the use of Cesium-131 to treat breast or other cancers using APBI or other methods will be successful in the initial and any future implants, whether a clinical trial for APBI will be completed, the advantages of the Gliasite delivery system, whether Cesium-131 will be successfully used in other delivery devices to treat malignant disease, whether IsoRay will be successful in launching any new products and whether such products will result in cost increases, whether changes in IsoRay’s sales and marketing strategy will result in improved sales, and all other statements in this release, other than historical facts, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). This statement is included for the express purpose of availing IsoRay, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as sufficient capital to fund protocols and enhance delivery systems for other applications, physician acceptance, training and use of IsoRay’s products, changing levels of demand for IsoRay’s current and proposed future products, whether the brachytherapy industry as a whole continues to experience declining sales, whether later studies and protocols support the findings of the initial studies, success of future research and development activities, patient results achieved when Cesium-131 is used for the treatment of cancers and malignant diseases beyond prostate cancer, the ability for users of the Cesium-131 implants to comply with regulations related to ongoing radiation emitting from the breast, whether resources are available as needed to conduct a clinical trial for APBI and whether results of any such trial are favorable, whether the liquid form of Cesium-131 is able to be used successfully with the Gliasite delivery system, the timing and viability of the Gliasite delivery system and whether the Company will be able to raise additional capital to commercialize the delivery system, develop proper dosage rates, and obtain favorable reimbursement rates for the Gliasite delivery system, IsoRay’s ability to successfully manufacture, market and sell its products, IsoRay’s ability to enforce its intellectual property rights, changes in reimbursement rates, changes in laws and regulations applicable to our product, and other risks detailed from time to time in IsoRay’s reports filed with the SEC.

Orient Paper Inc. (ONP) Provides Fourth Quarter Fiscal Year 2010 Guidance

BAODING, China, Nov. 16, 2010 /PRNewswire-Asia-FirstCall/ — Orient Paper, Inc. (AMEX:ONP) (“Orient Paper” or the “Company”), a leading manufacturer and distributor of diversified paper products in Hebei, China, today provided updated financial guidance for the fourth quarter of fiscal year 2010

Based on Orient Paper’s operating results in October, 2010, the Company expects to generate revenues of approximately $33.0 million and adjusted net income of at least $5.0 million in the fourth quarter of fiscal year 2010.

“We expect the new boilers to be placed in service in the fourth quarter after the installation and government inspection are complete. Due to increasing demands in the market and the tight paper product supplies as a result of government-mandated regional paper mill closures, average selling prices for paper products in the domestic market have risen in the last few months.  We feel confident that our sales in the fourth quarter of 2010 will bounce back to a much higher level as compared to the third quarter of 2010. We believe this market trend will continue into 2011 and expect our new 360,000 tons per annum corrugating medium paper production line, which is scheduled to be launched in the first quarter of 2011, to more than double our corrugating medium paper capacity to meet the future market opportunities,” stated Mr. Zhenyong Liu, Chief Executive Officer of Orient Paper, Inc.

About Orient Paper, Inc.

Orient Paper, Inc., through its wholly owned subsidiary, Shengde Holdings, Inc., controls and operates Baoding Shengde Paper Co., Ltd. (“Baoding Shengde”), and Hebei Baoding Orient Paper Milling Co., Ltd (“HBOP”). Founded in 1996, HBOP is engaged in the production and distribution of products such as corrugating medium paper, offset printing paper, and other paper and packaging-related products in China. The Company uses recycled paper as its primary raw material. Baoding Shengde, founded in June 2009 located in Baoding, is engaged in the production and distribution of digital photo paper. As one of the largest paper producers in Hebei Province, China, HBOP is strategically located in Baoding, a city in close proximity to Beijing where the majority of publishing houses are based. Orient Paper is led by an experienced management team committed to diversifying the Company’s product offering and delivering tailored services to its customers. For more information, please visit http://www.orientpaperinc.com.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, anticipated revenues from the digital photo paper business segment; the actions and initiatives of current and potential competitors; the Company’s ability to introduce new products; the Company’s ability to implement the planned capacity expansion of corrugate medium paper; market acceptance of new products; general economic and business conditions; the ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

Apricus Biosciences (APRI) Receives Canadian Approval for Vitaros®

SAN DIEGO–(BUSINESS WIRE)– Apricus Biosciences, Inc. (“Apricus Bio”) (Nasdaq:APRI), announced today that Health Canada has granted marketing approval for Vitaros^® as a first-line therapy for erectile dysfunction. Vitaros^® is Apricus Bio’s proprietary, topically-applied, on-demand treatment for erectile dysfunction.

Commenting on today’s news, Bassam Damaj, Ph.D., President and Chief Executive Officer of Apricus Bio, stated, “We at Apricus Bio are thrilled to have received this approval from Health Canada. The achievement of this milestone is a testament to the focus and dedication of the Apricus Bio team and our success in executing on our stated growth strategy.”

Dr. Damaj continued, “Data from our clinical trials showed that patients responded to treatment within minutes of applying Vitaros. Now, for the first time, men suffering from erectile dysfunction will have access to a patient-friendly, on-demand topical treatment. We view this Canadian approval as a validation of the NexACT technology as a transdermal delivery mechanism that is safe and effective. We intend to quickly finalize our marketing strategy to bring the product to the Canadian patient population. In addition, we will use this approval as the basis for seeking registration of the product for marketing in over 100 international markets.”

Vitaros^® incorporates alprostadil, a well-recognized vasodilator that is currently marketed as an injectable product or an intra-urethral insert product for patients with erectile dysfunction. Apricus Bio incorporated its proprietary NexACT drug delivery technology in the development of Vitaros as a patient-friendly topically-applied treatment for erectile dysfunction.

The product has been studied in over 3,300 patients including difficult to treat populations (diabetes, cardiac problems, sildenafil (Viagra^®) failures and post prostatectomy patients). Vitaros demonstrated clinical efficacy and excellent safety profile versus the currently approved oral therapies, and is not contraindicated for patients taking alpha blockers or nitrate medication. Viagra^® is a registered trademark of Pfizer.

About Apricus Biosciences

Backed by NexMed, USA and Bio-Quant, Inc., its revenue generating CRO business, Apricus Bio has leveraged the flexibility of its proven NexACT^® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes. Future growth is expected to be driven primarily through out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies, worldwide. Concurrently, the Company is seeking to monetize its existing product pipeline, including its approved drug erectile dysfunction treatment, Vitaros, as well as compounds in development from pre-clinical through Phase 3, currently focused on dermatology, sexual dysfunction and cancer. For further information on Apricus Bio and its subsidiaries, visit http://www.apricusbio.com.

Forward-Looking Statement Safe Harbor

Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to successfully commercialize Vitaros in Canada, receive registration of Vitaros in other countries, replicate pre-clinical study results in subsequent human clinical studies, enter into partnership agreements and successfully execute business plans. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s most recent annual report on Form 10-K and subsequent quarterly reports filed on Form 10-Q. Copies of these reports are available from the SEC’s website or without charge from the Company.

Tii Network Technologies (TIII) Reports Third Quarter 2010 Results; Achieves Record Sales for the Three and Nine Months

EDGEWOOD, N.Y., Nov. 15, 2010 /PRNewswire-FirstCall/ — Tii Network Technologies, Inc. (Nasdaq: TIII), a leader in designing, manufacturing and marketing network products for the communications industry, today reported results of operations for the three and nine months ended September 30, 2010.

Net sales for the three months ended September 30, 2010 were $18,625,000 compared to $7,460,000 in the comparable prior year period, an increase of $11,165,000 or 150%.  Net sales for the nine months ended September 30, 2010 were $36,713,000 compared to $19,703,000 in the comparable prior year period, an increase of $17,010,000 or 86%.  The sales growth was primarily due to the sales from our newly acquired Copper Products Division (“CPD”), which Tii acquired from Porta Systems Corp. in May 2010, increased sales to existing customers and sales to new customers from market share gains made in the fourth quarter of last year.  Sales from the newly acquired CPD totaled $7,530,000 and $9,400,000 during the three and nine months ended September 30, 2010, respectively, accounting for 67% and 55% of the total sales increase for the three and nine month periods, respectively.

Operating income for the three months ended September 30, 2010 was $1,308,000 compared to $90,000 in the comparable prior year period, an increase of $1,218,000.  The increase is primarily attributable to a $2,497,000 increase in gross profit as a result of the increase in sales, partially offset by a $1,279,000 increase in operating expenses.  Operating income for the nine months ended September 30, 2010 was $2,388,000 compared to an operating loss of $24,000 in the comparable prior year period, an improvement of $2,412,000.   The improvement is primarily attributable to a $4,981,000 increase in gross profit as a result of the increase in sales, partially offset by a $2,569,000 increase in operating expenses.

The increases in operating expenses in the 2010 periods from the 2009 periods were primarily attributable to additional salaries and related benefits resulting from the CPD acquisition, an increase in commissions resulting from the increase in sales, and transaction and integration costs of approximately $96,000 and $840,000 incurred during the three and nine months ended September 30, 2010, respectively, in connection with the CPD acquisition.  Under revised guidance on accounting for business combinations, all acquisition costs are expensed as incurred instead of constituting part of the purchase price of the acquired business.

Net income for the three months ended September 30, 2010 was $815,000, or $0.06 per diluted share, compared to $104,000, or $0.01 per diluted share, for the same prior year period, an increase of $711,000.  The current quarter results include a tax provision of $511,000 compared to a $13,000 tax benefit in the same prior year period.  Net income for the nine months ended September 30, 2010 was $1,470,000, or $0.10 per diluted share, compared to net loss of $81,000, or $0.01 per diluted share, for the same prior year period, an improvement of $1,551,000.  The results for the nine months ended September 30, 2010 include a tax provision of $945,000 compared to $62,000 in the same prior year period.  Our income tax provision for each period consists of amounts necessary to align our year-to-date tax provision with the effective tax rate we expect for the full year.  That rate differs from the U.S. statutory rate primarily as a result of the non-deductibility of certain share-based compensation expense for income tax purposes that has been recognized for financial statement purposes, a foreign tax rate differential and state taxes.

Kenneth A. Paladino, President and Chief Executive Officer, stated, “The third quarter sales level of $18.6 million represents the highest in the company’s history, and an increase of 150% over the prior year period.  Our operating income for the quarter was also up significantly to $1.3 million compared to $90,000 in the prior year period and, excluding legal settlement payments received in a quarter many years ago, also represents the highest in the Company’s history.

The quarter’s increased sales level results from incremental business from our recent acquisition, which accounted for 67% of the increase, as well as an increase in sales of our historical products.  Our business was strong across all of our product lines this past quarter due to the improved economy and the continued replenishment of supply chains by our customers.

The integration of the Copper Products Division continues to go as planned, the associated costs are diminishing and we expect to be substantially complete by year-end.  As we expected, our margins as a percent of sales were down for the quarter but with the critical integration issues behind us, we will now be able to increase our efforts on improving operating efficiencies.

We are very pleased with the tangible benefits we are realizing from our recent acquisition which has increased our business base, broadened our product lines and increased our sales channels.  These new sales, together with strength in our core business, have combined for record results this quarter confirming that we are successfully executing the right strategy.”

About Tii Network Technologies, Inc.

Tii Network Technologies, Inc. (Nasdaq: TIII) headquartered in Edgewood, New York, designs, manufactures and sells products to the service providers in the communications industry for use in their networks.  Our products are typically found in the Telco Central Office, outdoors in the service providers’ distribution network, at the interface where the service providers’ network connects to the users’ network, and inside the users’ home or apartment, and are critical to the successful delivery of voice and broadband communication services. Additional information about the company can be found at www.tiinettech.com.

Forward Looking Statement

Certain statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  When used in this release, words such as “may,” “should,” “seek,” “believe,” “expect,” “anticipate,” “estimate,” “project,” “intend,” “strategy” and similar expressions are intended to identify forward looking statements regarding events, conditions and financial trends that may affect our future plans, operations, business strategies, operating results and financial position. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause our actual results, performance or achievements to differ materially from those described or implied in the forward-looking statements as a result of several factors.  We undertake no obligation to update any forward-looking statement to reflect future events. Among those factors are:

Relating specifically to our recent acquisition:

• our ability to successfully complete the integration of the acquired products and sales force into our business;
• our ability to execute our plans with our manufacturing partner to improve gross margins of the acquired products; and
• the stability of the Pound Sterling and Mexican Peso relative to the U.S. dollar exchange rate.

Relating to our overall business:

• general economic and business conditions, especially as they pertain to the telecommunications industry;
• potential changes in customers’ spending and purchasing policies and practices, which are effected by customers’ internal budgetary allotments that may be impacted by the current economic climate, particularly in the United States;
• pressures from customers to reduce pricing without achieving a commensurate reduction in costs;
• the ability to market and sell products to new markets beyond our principal copper-based telephone operating company (“Telco”) market which has been declining over the last several years, due principally to the impact of alternate technologies;
• the ability to timely develop products and adapt our existing products to address technological changes, including changes in our principal market;
• exposure to increases in the cost of our products, including increases in the cost of our petroleum-based plastic products and precious metals;
• the ability to obtain raw materials and components used in manufacturing our products given the supply shortages of these items resulting from increased economic activity;
• competition in our principal market and new markets into which we have been seeking to expand;
• dependence on, and ability to retain, our “as-ordered” general supply agreements with our largest customers and our ability to win new contracts;
• dependence on third parties for certain product development;
• dependence for products and product components from Pacific Rim and Mexican contract manufacturers, including on-time delivery that could be interrupted as a result of third party labor disputes, political factors or shipping disruptions, quality control and exposure to changes in costs, including wages, and changes in the valuation of the Chinese Yuan and Mexican Peso;
• weather and similar conditions, including the effect of typhoons or hurricanes on our assembly facilities in the Pacific Rim and Mexico, which can disrupt production;
• the effect of hurricanes in the United States which can effect the demand for our products and the effect of harsh winter conditions in the United States which can temporarily disrupt the installation of certain of our products by Telcos;
• the ability to attract and retain technologically qualified personnel; and
• the availability of financing on satisfactory terms.

We undertake no obligation to update any forward-looking statement to reflect events after the date of this Report.

— Statistical Tables Follow —

Telestone Technologies Corp. (TSTC) Reports Record Third Quarter Results

BEIJING, Nov. 15, 2010 /PRNewswire-Asia-FirstCall/ — Telestone Technologies Corporation (“Telestone” or the “Company”) (Nasdaq: TSTC), a leading developer and provider of telecommunications local access network solutions based in China, today announced its financial results for its third quarter ended September 30, 2010.

Third Quarter 2010 Highlights

• Revenue was $43.1 million, up 128.2% from 3Q2009
• Company secured approximately 23.5% of revenues from WFDS™ installations;
• Q3 2010 gross margins were 45.3%, exceeding management guidance of 42%
• Net income up 184.0% from Q3 2009; $1.14 in fully diluted EPS
• Company announced first US-based WFDS™ contract for a Houston-based hospital on August 9, 2010

Summary Financials

“Our performance in the third quarter showed a marked acceleration in our business and is consistent with our growth expectations for the year,” began Han Daqing, CEO and Chairman of Telestone.  “Investments in sales and marketing earlier this year helped ensure our WFDS systems were chosen as the last mile network of choice at targeted installation sites and we have seen a dramatic pickup in our installations year long.  Having secured a solid backlog of both 3/G and WFDS™ contracts and installations, we are confident in achieving our full year guidance of $129.4 million in revenues and $22.9 million in net income.”

Business Overview and Third Quarter 2010 Financial Performance

For the three months ended September 30, 2010 Telestone revenues increased 128.2% to $43.1 million.   Product revenues increased 57.8% to $17.5, while professional services revenues increased 228.3% to $25.6 million.   Increases in professional services are representative of the Company’s value provided to its Big 3 telecommunication customers and building owner who have opted for fiber optic installations versus traditional booster-antenna 2/G or 3/G systems.  WFDS-enabled solutions accounted for 23.5% of sales for the quarter and Telestone’s backlog of projects it plans to complete in 2010 was $61.5 million by September 30, 2010.

Corresponding gross profit was $19.5 million, an increase of 119.2% year-over-year.  Gross margins for the quarter were 45.3%, and resulted from WFDS™ installations, which contribute margins of between 45-50%.

Selling, general and administrative expenses (SG&A) were $5.2 million, accounting for 11.9% of total revenues, as compared to $3.2 million or 16.9% of total revenues, for the corresponding period of 2009.    The increase in sales and marketing costs are directly attributed to efforts to secure WFDS™ systems for 3/G networks from the “Big 3”.  The sales efforts began in the second quarter of the 2010 year and extended into the third quarter of 2010.  The result of additional sales and marketing expenses through both quarters resulted in a significant increase in revenues and profits for the period ended September 30, 2010.

Operating income in the third quarter of 2010 grew 155.8% to $14.1 million, with operating margin expanding 360 basis points to 32.7%.  For the three months ended September 30, 2010, net income of $12.1 million represented an increase of 184.0% from the same period in 2009.  Based on 10.6 million shares, earnings per weighted average diluted shares increased 178.0% to $1.14 per share for the quarter, compared to $0.41 in the same period of 2009.

Nine Months Results

* Adjusted net income reported by the Company in the first nine months of 2010 excludes a non-cash stock-based compensation charge of $2.1 million related to the issuance of stocks to certain directors of Shandong Guolian Telecommunications Technology, and a one-time noncash stock-based compensation charge of $0.5 million for professional services rendered.

Total revenue for the first nine months of fiscal 2010 was $70.9 million, up 82.1% from $38.9 million in the prior year’s period.  Revenues from WFDS™ installations accounted for approximately 24.5% of revenue in the nine months of the year. China Mobile accounted for 57.7% of revenues, China Unicom accounted for 29.6% of revenues and China Telecom accounted for 11.4% of revenues for the first nine months of 2010.

Gross profit in the first nine months of 2010 increased 71.7% to $32.0 million, while gross profit margins of  45.1%  exceeded guided gross margins expectations of 42% for the year.

Selling, general and administrative (SG&A) expenses in the first nine months of fiscal year 2010 were $15.9 million compared to $8.5 million in the prior year’s period, as a result of increased sales and marketing costs incurred mostly in the second quarter of the year.  Additionally, during the first quarter of fiscal 2010 the general administrative expenses were allocated a non-cash charge of $2.6 million related to the issuance of stock to Shandong Guolian Telecommunications Technology Limited in connection with Telestone’s acquisition of the company in 2007 and professional services rendered.  Excluding the effects of the non-cash charge, the SG&A expenses would have been $13.1 million.

Operating income in the first nine months of 2010 was $15.2 million, an increase of 62.8%. Excluding the effects of the previously-mentioned non-cash charge of $2.6 million, operating income was $17.8 million, an increase of 89.4% year over year.  Adjusted operating income margins for the first nine months of 2010 were 25.1%.

GAAP net income for the first nine months of 2010 was $12.6 million, compared to $7.4 million in the prior year’s corresponding period, a 71.7% increase year over year. Adjusted net income excluding the aforementioned non-cash expenses is $15.2 million, an increase of 105.4% year over year.

Earnings per weighted average diluted share were $1.20 based on 10.6 million diluted shares, while adjusted earnings were $1.43 per share, compared to $0.71 in the year ago period.

Financial Position

Cash and cash equivalents improved by approximately $2.1 million from June 30, 2010 to $9.8 million. The current ratio at September 30, 2010 was 2.0-to-1 compared to 2.2-to-1 at December 31, 2009. Accounts receivable and inventories were $134.1 million and $2.7 million at September 30, 2010 compared to $89 million and $4.4 million, respectively at December 31, 2009. Short-term bank loans grew by $2.9 million to $8.8 million from the end of 2009. The Company secured a new bank line from the Bank of Beijing for approximately $44 million in September 2010. Management believes it has sufficient funds available to achieve its growth targets.

Guidance, Backlog and Business Outlook

Telestone is reaffirming guidance of $129.4 million in revenue, $22.9 million in net income and $2.17 in EPS for the 2010 year.  Telestone’s backlog of installations slated for completion, inspection and final billing to their customers in the fourth quarter total $61.5 million by September 30, 2010.

Based on news provided to the market by other last mile network installers in China and convergence projects announced recently, the Chairman of Telestone, Mr. Han Daqing, stated, “To meet the network convergence plans, we launched WFDS™-ULAN(Unified Local Access Network) in the first quarter of this year and gained traction and market acceptance in the first nine months of the year. We were one of the first network installers to address this market.  Long term, we believe that our solution will become the preferred choice by the telecom carriers in China.   In addition to our WFDS-ULAN application to the telecom carriers, over the next six months we plan to launch WFDS-UOINS (Unified Office Information Network System) geared towards small, medium and large businesses. The solution will replace the traditional office local access network (“LAN”) and provide customers numerous advantages. Within the next 12 months, we will also roll out WFDS-UPCMS (Unified Premises Control & Management System) for properly owners, landlords, and building managers that address inefficient control and building monitoring systems available today. Finally, within the next 24 months, we will hope to launch WFDS-UPINS (Unified Premises Information Network System) for large industrial and commercial zones, which will enable all three applications mentioned above within one integrated ‘cloud’ network. We are confident that with these new WFDS-focused product developments and network designs, Telestone will become a worldwide leader in the industry.”

Third Quarter Earnings Conference Call

To attend the call, please use the dial-in information below.

Please dial in at least 10-minutes before the call to ensure timely participation. This call is also being webcast and can be accessed by clicking on this link http://www.corpasia.net/cancast/us/index.php?id=usTSTC_1&version=e

About Telestone Technologies Corporation

Telestone is a leading innovator in local access network technologies and solutions. Telestone is a global company with 30 sales offices throughout China and a network of international branch offices and sales agents. For more than 10 years, Telestone has been installing radio-frequency based 1G and 2G systems throughout China for China’s leading telecommunications companies. After intensive research on the demands of carriers in the 3G age, Telestone developed and commercialized its third generation technology for the local access network, WFDS™ (Wireless Fiber-Optic Distribution System), which provides a scalable, multi-access local access network solution for China’s three cellular protocols. Telestone offers services that include project design, project manufacturing, installation, maintenance and after-sales support. Telestone Technologies has approximately 1,200 employees.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of Telestone Technologies Corporation and its subsidiary companies. Forward-looking statements can be identified by the use of forward-looking terminology such as “believes, expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Telestone Technologies is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.