U.S. Global Investors (GROW) Announces Earnings Webcast

U.S. Global Investors, Inc. (Nasdaq: GROW) will host a webcast on Thursday, August 30, 2012, at 7:30 a.m. Central time to discuss the company’s earnings for the fiscal year 2012.

Financial data for the quarter will be released prior to the webcast.

Frank Holmes, CEO and chief investment officer; Susan McGee, president and general counsel; and Catherine Rademacher, chief financial officer, will participate in the webcast.

Click here to register for the earnings webcast or visit www.usfunds.com for more information. The earnings presentation can also be accessed by dialing 1(800) 446-1671. The confirmation number is 33174709. Please dial in at least 5 minutes prior to the start of the call.

About U.S. Global Investors, Inc.

U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas, the company provides advisory, transfer agency and other services to U.S. Global Investors Funds and other clients.

Crosshair (CXZ) Receives Initial Assay Results From CMB Property, Labrador

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 08/22/12 — Crosshair Energy Corporation (TSX:CXX)(NYSE MKT:CXZ)(NYSE Amex:CXZ) (“Crosshair” or the “Company”) is pleased to announce the receipt of the first set of assay results from the on-going drilling program on its CMB uranium/vanadium property in Labrador, Canada. To date, a total of 16 holes, totaling 2,923 metres, have been completed on the property, with the goal of expanding the existing uranium and vanadium resources, as well as testing new uranium targets on the property.

“We are pleased with the results from this first set of assays as they appear to confirm that the uranium mineralization at Two Time and the vanadium mineralization within the C Zone corridor is more extensive than our current resource estimates would indicate,” stated Mark Ludwig, Crosshair’s President & CEO. “We are looking forward to receiving the remainder of our assays in order to continue to advance these key deposits.”

Two Time Prospect

Drilling on the Two Time prospect was aimed at extending the deposit to the south and at depth. As illustrated in the table below, drill hole CMB-12-49 successfully intersected mineralization at the expected depth over a thicker interval, indicating the deposit is continuous to the south along strike and along dip. This hole represents a minimum 50m step out to the south from previous holes into the deposit.

-----------------------------------------------
                From      To   Interval
Hole ID          (m)     (m)        (m)   U3O8%
-----------------------------------------------
CMB-12-49      319.5   324.0        4.5   0.032
-----------------------------------------------
         and   345.4   346.4        1.0   0.032
-----------------------------------------------
         and   492.5   521.0       28.5   0.031
-----------------------------------------------
   including   494.0   498.0        4.0   0.051
-----------------------------------------------
         and   513.5   516.5        3.0   0.074
-----------------------------------------------

C Zone Corridor

Drilling within the C Zone corridor was focused on determining if the vanadium mineralization identified to date represents one continuous body within the corridor. Drill hole ML-12-197 was positioned halfway between the Area 1 prospect and the Trout Pond prospect. As the following table shows, vanadium mineralization was intersected supporting the interpretation of a single continuous zone of vanadium mineralization within the corridor.

------------------------------------------------
                From      To    Interval
Hole ID          (m)     (m)         (m)   V2O5%
------------------------------------------------
ML-12-197       66.0    68.0         2.0   0.153
------------------------------------------------
         and    76.0    78.0         2.0   0.167
------------------------------------------------
         and    96.0   106.0        10.0   0.150
------------------------------------------------

To date, assays for 302 samples, from four drill holes have been received. Drilling is continuing on the CMB project with additional assay results pending. The true width of the mineralized zone is 70% to 90% of the lengths stated above. Uranium analysis was carried out by Activation Labs of Ancaster, Ontario utilizing the delayed neutron counting (DNC) method, while multi-element analysis was performed using Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Standards, blanks, and duplicate assays were included at regular intervals in each sample batch submitted from the field as part of Crosshair’s ongoing Quality Assurance/Quality Control program.

The CMB project consists of a total of 2,383 claims in 25 licences and includes the Two Time mineralized prospect which currently contains an Indicated mineral resource estimate of 2.33 M pounds of uranium (1.82 M tonnes grading 0.058% U3O8) and an Inferred mineral resource estimate of 3.73 M pounds of uranium (3.16 M tonnes grading 0.053% U3O8) and is open for expansion.

In addition to the Two Time prospect, the CMB project also includes the C Zone corridor, which encompasses the C Zone, Area 1 and Armstrong prospects. This corridor has a current Indicated mineral resource estimate of 5.19 million pounds of uranium (6.92 million tonnes at 0.034% U3O8) and an additional Inferred mineral resource estimate of 5.82 million pounds of uranium (8.17 million tonnes at 0.032% U3O8). It also contains an Indicated mineral resource estimate of 42.8 million pounds of vanadium (14.7 million tonnes at 0.15% V2O5) and an additional Inferred resource estimate of 93.6 million pounds of vanadium (28.3 million tonnes at 0.16% V2O5). All the resources remain open both along strike and at depth.

Complete assay highlights with drill plan maps and additional information on the CMB Uranium/Vanadium Project can be found on the Crosshair website at: http://www.crosshairenergy.com/s/CentralMineralBelt.asp.

Stewart Wallis, P.Geo., a Director of Crosshair and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Wallis has verified that the results disclosed in the news release have been accurately summarized from the official assay certificates provided to Crosshair.

About Crosshair

Crosshair is a prominent player in the exploration and development of uranium and vanadium projects in the US and Canada. Its flagship properties, Bootheel and Juniper Ridge, have established resources and are located in uranium mining friendly Wyoming. Bootheel has the potential to be mined using in-situ recovery methods while Juniper Ridge appears to be suitable for an open-pit heap leach operation. The CMB Uranium/Vanadium Project is located in Labrador, Canada and has four currently defined resources – C Zone, Area 1, Armstrong and Two Time Zone. The Crosshair team is composed of knowledgeable and experienced professionals with global experience in exploration, mining and corporate finance that are committed to operating in an environmentally responsible manner.

Additional information about the CMB Uranium-Vanadium Project can be found in the technical reports filed on SEDAR at www.sedar.com entitled: “Technical Report on the Central Mineral Belt (CMB) Uranium-Vanadium Project, Labrador, Canada” prepared for Crosshair dated January 20, 2011 (Rev March 10, 2011) and “Technical Report on the CMBNW Property, Newfoundland & Labrador, Canada” prepared for Crosshair and Silver Spruce Resources dated June 22, 2009.

For more information on Crosshair and its properties, please visit the website at www.crosshairenergy.com.

ON BEHALF OF THE CROSSHAIR BOARD

Mark J. Morabito, EXECUTIVE CHAIRMAN

Cautionary Note Regarding Forward-Looking Information

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. Forward-looking statements or information relate to, among other things mineral resource estimates, increasing mineral resource estimates, additional mineralization, the details of the exploration program and the exploration potential of the Company’s properties. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the risks associated with outstanding litigation, if any; risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in uranium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume; tax consequences to U.S. shareholders and other risks and uncertainties, including those described in the Risk Factors section in the Company’s Annual Report on Form 20-F for the financial year ended April 30, 2012 filed with the Canadian Securities Administrators and available at www.sedar.com. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Cautionary Note Concerning Reserve and Resource Estimates

This press release uses the terms “reserves”, “resources”, “proven reserves”, “probable reserves”, “measured resources”, “indicated resources” and “inferred resources”. United States investors are advised that, while such terms are recognized and required by Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United States standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Mineral resources that are not mineral reserves do not have demonstrated economic viability. United States investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Inferred Resources are in addition to Measured and Indicated Resources. Further, inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher category. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist, or that they can be mined legally or economically. Disclosure of “contained ounces” is permitted disclosure under Canadian regulations, however, the SEC normally only permits issuers to report “resources” as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in this release may not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the SEC. National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all reserve and resource estimates referred to in this press release or released by the Company in the future have been or will be prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. The requirements of NI 43-101 are not the same as those of the SEC and any reserves reported by the Company in compliance with NI 43-101 may not qualify as reserves under the SEC’s standards.

Contacts:
Crosshair Energy Corporation
Konstantine Tsakumis
604-681-8030
604-681-8039 (FAX)
info@crosshairenergy.com
www.crosshairenergy.com

Crosshair Energy Corporation
Bevo Beaven
Investor Relations

QKL Stores (QKLS) Opens One New Supermarket

DAQING, China, Aug. 22, 2012 /PRNewswire-Asia/ — QKL Stores Inc. (the “Company”) (Nasdaq: QKLS), a leading regional supermarket chain in Northeastern China, today announced the opening of a new supermarket.

The Company’s 54th new store, situated in Kaiyuan City, Liaoning Province, was opened on August 22, 2012. Kaiyuan City, with a population of approximately 580,000 residents, is known as the national grain producing base, and has a history of over 1300 years. The supermarket is located in the center of the commercial district of the city, serving about 200,000 potential Chinese customers. This supermarket occupies approximately 5,700 sq. meters of gross space.

Mr. Zhuangyi Wang, Chairman and CEO, said, “Kaiyuan City is a growing city in the Northeast China region that can benefit from the varied assortment of quality fresh food and grocery products that are carried within our store locations. We are pleased to open our first store in this location and are encouraged with the schedule of our 2012 store opening plan.”

About QKL Stores Inc.:

Based in Daqing, China, QKL Stores, Inc. is a leading regional supermarket chain company operating in Northeast China. QKL Stores sells a broad selection of merchandise, including groceries, fresh food, and non-food items, through its retail supermarkets, hypermarkets and department stores; the company also has its own distribution centers that service its supermarkets. For more information, please access the Company’s website at: www.qklstoresinc.com.

Safe Harbor Statement

Certain statements in this release and other written or oral statements made by or on behalf of the Company are “forward looking statements” within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management’s expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company’s services and projects and the Company’s continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from those contemplated by any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements.

Contact Information

Community Bankers Trust (BTC) to Pay All Outstanding Dividends on TARP Preferred Stock

GLEN ALLEN, Va., Aug. 21, 2012 /PRNewswire/ — Community Bankers Trust Corporation, the holding company for Essex Bank (the “Company”) (NYSE Amex: BTC), announced today that it has received regulatory approval to pay all six dividends that have accrued and remain unpaid, including the dividend payable on August 15, 2012, with respect to its Fixed Rate Cumulative Perpetual Preferred Stock, Series A.  The Company issued the Preferred Stock to the United States Department of the Treasury in connection with the Company’s participation in the Treasury’s TARP Capital Purchase Program in December 2008.  The Company will make all dividend payments, and will pay all outstanding interest on the six payments, on August 21, 2012.

(Logo:  http://photos.prnewswire.com/prnh/20120727/PH46884LOGO)

The Company also received regulatory approval to pay the interest payment on its trust preferred securities that will be due September 30, 2012.

Rex L. Smith, III, the Company’s President and Chief Executive Officer, stated, “We are pleased that we are in the position to bring all the past payments current.  As our financial condition and earnings continue to improve, we expect to be able to focus our attention on paying the principal portion of the TARP obligation as soon as possible.”

Mr. Smith added, “I believe this shows the solid foundation we have created working with our regulators regarding our previous supervisory issues.  Additionally, I believe we will have the resources in the form of both earnings and our capital resources to allow us to pay our full obligation to the Treasury without diluting our current shareholders.”

The Company had previously made three dividend payments, each in the amount of $221,000, on the Preferred Stock since the Company began to defer payments in August 2010.  The amount of the payment that the Company will make to become current on the six outstanding dividends will be $1,326,000, plus interest that has accrued.

About Community Bankers Trust Corporation

The Company is the holding company for Essex Bank, a Virginia state bank with 24 full-service offices, 13 of which are in Virginia, seven of which are in Maryland and four of which are in Georgia.  The Company also operates one loan production office.  Additional information is available on the Company’s website at www.cbtrustcorp.com.

Forward-Looking Statements

This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. These forward-looking statements include, without limitation, statements with respect to the Company’s operations and goals. Actual results may differ materially from those included in the forward-looking statements due to a number of factors, including, without limitation, the effects of and changes in the following: the quality or composition of the Company’s loan or investment portfolios, including collateral values and the repayment abilities of borrowers and issuers; assumptions that underlie the Company’s allowance for loan losses; general economic and market conditions, either nationally or in the Company’s  market areas; the ability of the Company to comply with regulatory actions, and the costs associated with doing so; the interest rate environment; competitive pressures among banks and financial institutions or from companies outside the banking industry; real estate values; the demand for deposit, loan, and investment products and other financial services; the demand, development and acceptance of new products and services; the Company’s compliance with, and the timing of future reimbursements from the FDIC to the Company under, shared loss agreements with the FDIC; assumptions and estimates that underlie the accounting for loan pools under the shared loss agreements; consumer profiles and spending and savings habits; the securities and credit markets; costs associated with the integration of banking and other internal operations; management’s evaluation of goodwill and other assets on a periodic basis, and any resulting impairment charges, under applicable accounting standards; the soundness of other financial institutions with which the Company does business; inflation; technology; and legislative and regulatory requirements. Many of these factors and additional risks and uncertainties are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 and other reports filed from time to time by the Company with the Securities and Exchange Commission. This press release speaks only as of its date, and the Company disclaims any duty to update the information in it.

Hansen Medical (HNSN) Receives 30 Additional U.S. Patents for Medical Robotics

MOUNTAIN VIEW, CA — (Marketwire) — 08/21/12 — Hansen Medical, Inc. (NASDAQ: HNSN), a global leader in intravascular robotics, today announced that it has expanded its intellectual property portfolio in medical robotics with the issuance of 30 additional U.S. patents since January 2011. Hansen Medical also shares rights to more than 250 issued U.S. patents relating to medical robotics through licensing arrangement with third parties.

Certain of the patents provide additional coverage for Hansen Medical’s Magellan™ Robotic System, which is designed to treat a variety of peripheral vascular diseases and is currently being commercialized in the United States and the European Union. Several of the patents also provide additional coverage for Hansen Medical’s Sensei® X Robotic Catheter System, while others provide innovative solutions for potential future advancements to its robotic technologies.

“Patent protection is very important in our industry,” said Bruce J Barclay, Hansen Medical president and chief executive officer. “Significant value at Hansen Medical lies in the intellectual property assets we have developed for use in our products and that can be used across a number of platforms outside of our core markets. We continue to work diligently to build patent protection covering the innovative work being performed by our talented engineers and scientists at the company.”

Specifically, the 30 additional patents received by Hansen Medical are U.S. Patent No. 7,867,241, titled Flexible Instrument; 7,905,828, Flexible Instrument; 7,918,861, Flexible Instrument; 7,947,050, Surgical Instrument Coupling Mechanism; 7,972,298, Robotic Catheter System; 7,974,681, Robotic Catheter System; 7,901,399, Interchangeable Surgical Instrument; 7,922,693, Apparatus Systems and Methods for Flushing Gas from a Catheter of a Robotic Catheter System; 7,931,586, Flexible Instrument; 7,935,059, System and Method for 3-D Imaging; 7,947,051, Surgical Instrument Coupling Mechanism; 7,955,316, Coaxial Catheter System; 7,959,557, Robotic Medical Instrument System; 7,963,288, Robotic Catheter System; 7,976,539, System and Method for Denaturing and Fixing Collagenous Tissue; 8,005,537, Robotically Controlled Intravascular Tissue Injection System; 8,007,511, Surgical Instrument Design; 8,021,326, Instrument Driver for Robotic Catheter System; 8,041,413, Systems and Methods for Three-Dimensional Ultrasound Mapping; 8,052,621, Method of Sensing Forces on a Working Instrument; 8,052,636, Robotic Catheter System and Methods; 8,083,691, Apparatus and Method for Sensing Force; 8,092,397, Apparatus for Measuring Distal Forces on a Working Instrument; 8,108,069, Robotic Catheter System and Methods; 8,114,097, Flexible Instrument; 8,146,874, Mounting Support Assembly for Suspending a Medical Instrument Driver Above an Operating Table; 8,160,690, System and Method for Determining Electrode-Tissue Contact Based on Amplitude Modulation of Sensed Signal; 8,172,747, Balloon Visualization for Traversing a Tissue Wall; 8,187,229, Coaxial Catheter System; and 8,190,238, Robotic Catheter System and Methods.

About Hansen Medical, Inc.

Hansen Medical, Inc., based in Mountain View, California, is the global leader in intravascular robotics, developing products and technology designed to enable the accurate positioning, manipulation and control of catheters and catheter-based technologies. The Company’s Magellan™ Robotic System, NorthStar™ Robotic Catheter and related accessories, which are intended to facilitate navigation to anatomical targets in the peripheral vasculature and subsequently provide a conduit for manual placement of therapeutic devices, have undergone both CE marking and 510(k) clearance and are commercially available in the European Union, and the U.S. In the European Union, the Company’s Sensei® X Robotic Catheter System and Artisan Control Catheter are cleared for use during electrophysiology (EP) procedures, such as guiding catheters in the treatment of atrial fibrillation (AF), and the Lynx® Robotic Ablation Catheter is cleared for the treatment of AF. This robotic catheter system is compatible with fluoroscopy, ultrasound, 3D surface map and patient electrocardiogram data. In the U.S. the Company’s Sensei X Robotic Catheter System and Artisan Control Catheter were cleared by the U.S. Food and Drug Administration for manipulation and control of certain mapping catheters in EP procedures. In the United States, the Sensei System is not approved for use in guiding ablation procedures; this use remains experimental. The U.S. product labeling therefore provides that the safety and effectiveness of the Sensei X System and Artisan Control Catheter for use with cardiac ablation catheters in the treatment of cardiac arrhythmias, including AF, have not been established.

Additional information can be found at www.hansenmedical.com.

Forward-Looking Statements
This press release contains forward-looking statements regarding, among other things, statements relating to goals, plans, objectives, milestones and future events. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “plan,” “expects,” “potential,” “believes,” “goal,” “estimate,” “anticipates,” and similar words. These statements are based on the current estimates and assumptions of our management as of the date of this press release and are subject to risks, uncertainties, changes in circumstances and other factors that may cause actual results to differ materially from the information expressed or implied by forward-looking statements made in this press release. Examples of such statements include statements about the potential benefits of our technology and the value of our intellectual property portfolio. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others: engineering, regulatory, manufacturing, sales and customer service challenges in developing new products and entering new markets; potential safety and regulatory issues that could slow or suspend our sales; the effect of credit, financial and economic conditions on capital spending by our potential customers; the uncertain timelines for the sales cycle for newly introduced products; the rate of adoption of our systems and the rate of use of our catheters; the scope and validity of intellectual property rights applicable to our products; competition from other companies; our ability to recruit and retain key personnel; our ability to maintain our remedial actions over previously reported material weaknesses in internal controls over financial reporting; our ability to manage expenses and cash flow, and obtain additional financing; and other risks more fully described in the “Risk Factors” section of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 filed with the SEC on August 9, 2012 and the risks discussed in our other reports filed with the SEC. Given these uncertainties, you should not place undue reliance on the forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.

Hansen Medical, Heart Design (Logo), Hansen Medical (with Heart Design), Sensei and Lynx are registered trademarks, and Magellan and NorthStar are trademarks of Hansen Medical, Inc. in the United States and other countries.

Investor Contacts:
Peter J. Mariani
Chief Financial Officer
Hansen Medical, Inc.
650.404.5800

FTI Consulting, Inc.
Brian Ritchie
212.850.5683
Email Contact

John Capodanno
212.850.5705

Dex One and SuperMedia (SPMD) Will Combine to Create a National Provider

Local Consultants Simplify Marketing for Business Owners

Dex One Corporation (NYSE: DEXO) and SuperMedia Inc. (NASDAQ: SPMD):

Highlights of the Combination

• Over 3,100 marketing consultants serving more than 700,000 local businesses
• Pro-forma combined 2011 revenue was $3.1 billion, with non-GAAP adjusted EBITDA of approximately $1.2 billion and non-GAAP free cash flow of $610 million
• Combined companies estimate annual expense synergies of $150-$175 million by 2015
• Preserves tax attributes of as much as $1.8 billion to benefit cash flow
• Merged company better positioned to retire debt with amended and extended lender agreements

Dex One Corporation (NYSE: DEXO) and SuperMedia Inc. (NASDAQ: SPMD) today announced that their Boards of Directors have approved a definitive agreement under which Dex One and SuperMedia will combine in a stock-for-stock merger of equals, creating a national provider of social, local and mobile marketing solutions through direct relationships with local businesses.

Upon closing of the transaction, Dex One shareholders are expected to own approximately 60 percent and SuperMedia shareholders are expected to own approximately 40 percent of the combined company.

The combined company will have over 5,800 employees, including more than 3,100 consultants who establish direct relationships with local business owners and offer a full suite of marketing solutions to help them retain and add customers. Initially, the combined company will have relationships with more than 700,000 businesses.

The business will benefit from improved operating scale, significant synergies and enhanced cash flow. On a pro-forma basis, for the full year 2011, the combined company would have reported $3.1 billion in revenue, $778 million in non-GAAP operating income (adjusted to exclude impairment charges of $1.8 billion) and $1.2 billion in non-GAAP adjusted EBITDA. Pro-forma cash from operations for the full year 2011 would have been $657 million, and non-GAAP free cash flow would have been $610 million. For the first half of 2012, the combined company would have reported pro-forma revenue of approximately $1.4 billion, $290 million in operating income and $586 million in non-GAAP adjusted EBITDA. First half 2012 pro-forma cash flow from operations for the combined company would have been $340 million and non-GAAP free cash flow for the period would have been $322 million.

“We believe this merger is in the best interests of shareholders, lenders, customers, employees and consumers,” said Alan Schultz, chairman of the board of directors of Dex One. “Dex One and SuperMedia are closely aligned with a solid value proposition for local businesses, and we expect the transaction to generate significant operational and financial synergies, which will create additional investor value.”

“Over the time we have spent together understanding each other’s company and exploring the market opportunities, we have become more and more enthusiastic about the potential of Dex One and SuperMedia combined to more effectively help businesses grow using the full range of local media,” added Douglas Wheat, chairman of the board of directors of SuperMedia. “We look forward to working together to help the new company realize that potential.”

“For the past two years, Dex One and SuperMedia have been on the same path of transformation, fully embracing digital media to help businesses grow through a complete suite of marketing solutions provided by our local consultants,” said Peter McDonald, president and CEO of SuperMedia. “Our common goal over many decades has been to drive results for local advertisers. By joining together, we will have nationwide presence to increase market share and achieve operating and service efficiencies. Having spent time in my career at Dex One and SuperMedia, I know that the great attitudes, best thinking and best practices of the talented individuals at both companies will combine to enhance the value we deliver to our clients and investors.”

“The two companies fit well together. The combined scale and scope of the new company creates a powerful platform to penetrate more of the market and further improve our competitive position,” said Alfred Mockett, CEO of Dex One. “This combination will accelerate the pace of the transformation each of us was pursuing independently, improve our financial condition and generate benefits for all constituencies.”

Financial Benefits for Shareholders and Lenders

The combined company estimates it will realize $150-$175 million of annual run rate cost synergies by 2015 due to scale efficiencies; rationalization of duplicative solutions, products and vendor relationships; headcount reductions; and adoption of the most cost effective management and operating practices and technology platforms and systems from Dex One and SuperMedia. The combined company expects to incur $100-$120 million of one-time transition expenses to achieve these synergies.

The combined company also will benefit from the application across a larger territory of the best of each company’s social, local and mobile marketing solutions, combined with the advice of its marketing consultants, to create and maintain local business relationships.

The combined company expects to preserve access to Dex One’s remaining tax attributes and generate future attributes, in aggregate totaling as much as $1.8 billion, to offset income attributable to the combined company following the completion of the transaction.

Organization and Leadership

Under the terms of the definitive merger agreement, Alan Schultz, chairman of the board of directors of Dex One, will be chairman of the board of directors of the combined company. The president and CEO of SuperMedia, Peter McDonald, will become CEO. Alfred Mockett, Dex One’s CEO, will continue to lead Dex One through the close of the transaction, at which point he will step down.

Following the close of the transaction, the combined company’s board of directors will include Schultz, McDonald, four additional members from the Dex One board, four additional members from the SuperMedia board and one independent director to be selected by the new board. The CFO of SuperMedia, Samuel (Dee) Jones, will become the CFO of the combined company.

The combined company will be called Dex Media. This is not intended to be a new brand in the marketplace. The Dex One and SuperMedia names and the brand names for their solutions and services have significant value with businesses and consumers. Decisions regarding if and when to implement brand and name changes in local markets will be made after further evaluation and planning. A decision regarding the location of the new company’s headquarters and other principal locations also will be made during the course of merger integration planning.

Transaction Structure

Under the terms of the agreement, Dex One and SuperMedia shareholders will exchange their shares for shares in Dex Media. Dex One shareholders will receive 0.20 shares for each Dex One share they own, and Super Media shareholders will receive 0.4386 shares for each SuperMedia share they own.

Approvals

The transaction must be approved by the stockholders for the two companies and is subject to negotiation of acceptable credit agreement amendments with both companies’ lenders. SuperMedia and Dex One intend to file a joint proxy statement/prospectus with the Securities and Exchange Commission (“SEC”) to submit the merger to their stockholders for approval. The transaction is expected to close in the fourth quarter of 2012.

Advisors

Houlihan Lokey is acting as financial advisor to Dex One, and Kirkland & Ellis LLP is acting as its legal counsel. Morgan Stanley & Co. LLC and Chilmark Partners are acting as financial advisors to SuperMedia, and Fulbright & Jaworski L.L.P and Cleary Gottlieb Steen & Hamilton LLP are acting as its legal counsel.

Investor Conference Call

Dex One and SuperMedia will host a conference call today, Aug. 21, at 10 a.m. EDT to discuss the proposed transaction. To participate, call (888) 603-6873 domestically or (973) 582-2706 internationally 15 minutes prior to the scheduled start time. The passcode is 21540686. Shortly before the conference call begins, slides will be posted under the investor relations sections of each company’s website that will be referred to during the call. A replay will be available for one week following the call until Aug. 28, at midnight EDT. In addition, an audio web cast of the call will be available live and will be archived on the investor relations portions of both company’s web sites. To access the replay, call (800) 585-8367 domestically or (404) 537-3406 internationally and enter access code 21540686.

A live audio webcast of the conference call will be available at www.DexOne.com and www.SuperMedia.com. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast.

Important Information For Investors and Security Holders

This communication 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. The proposed merger transaction between SuperMedia Inc. (“SuperMedia”) and Dex One Corporation (“Dex”) will be submitted to the respective stockholders of SuperMedia and Dex. In connection with the proposed transaction, Newdex, Inc., a subsidiary of Dex (“Newdex”), will file with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that will include a joint proxy statement/prospectus to be used by SuperMedia and Dex to solicit the required approval of their stockholders and that also constitutes a prospectus of Newdex. INVESTORS AND SECURITY HOLDERS OF SUPERMEDIA AND DEX ARE ADVISED TO CAREFULLY READ THE REGISTRATION STATEMENT AND JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS) AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE PARTIES TO THE TRANSACTION AND THE RISKS ASSOCIATED WITH THE TRANSACTION. A definitive joint proxy statement/prospectus will be sent to security holders of SuperMedia and Dex seeking their approval of the proposed transaction. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when available) and other relevant documents filed by SuperMedia and Dex with the SEC from the SEC’s website at www.sec.gov. Copies of the documents filed by SuperMedia with the SEC will be available free of charge on SuperMedia’s website at www.supermedia.com under the tab “Investors” or by contacting SuperMedia’s Investor Relations Department at (877) 343-3272. Copies of the documents filed by Dex with the SEC will be available free of charge on Dex’s website at www.dexone.com under the tab “Investors” or by contacting Dex’s Investor Relations Department at (800) 497-6329.

SuperMedia and Dex and their respective directors, executive officers and certain other members of management may be deemed to be participants in the solicitation of proxies from their respective security holders with respect to the transaction. Information about these persons is set forth in SuperMedia’s proxy statement relating to its 2012 Annual Meeting of Shareholders and Dex’s proxy statement relating to its 2012 Annual Meeting of Stockholders, as filed with the SEC on April 11, 2012 and March 22, 2012, respectively, and subsequent statements of changes in beneficial ownership on file with the SEC. These documents can be obtained free of charge from the sources described above. Security holders and investors may obtain additional information regarding the interests of such persons, which may be different than those of the respective companies’ security holders generally, by reading the joint proxy statement/prospectus and other relevant documents regarding the transaction (when available), which will be filed with the SEC.

Forward-Looking Statements

Certain statements contained in this document are “forward-looking statements” subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995, including but not limited to, statements about the benefits of the proposed transaction and combined company, including future financial and operating results and synergies, plans, objectives, expectations and intentions and other statements relating to the proposed transaction and the combined company that are not historical facts. Where possible, the words “believe,” “expect,” “anticipate,” “intend,” “should,” “will,” “would,” “planned,” “estimated,” “potential,” “goal,” “outlook,” “may,” “predicts,” “could,” or the negative of such terms, or other comparable expressions, as they relate to Dex, SuperMedia, the combined company or their respective management, have been used to identify such forward-looking statements. All forward-looking statements reflect only Dex’s and SuperMedia’s current beliefs and assumptions with respect to future business plans, prospects, decisions and results, and are based on information currently available to Dex and SuperMedia. Accordingly, the statements are subject to significant risks, uncertainties and contingencies, which could cause Dex’s, SuperMedia’s or the combined company’s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by, these statements.

Factors that could cause actual results to differ materially from current expectations include risks and other factors described in Dex’s and SuperMedia’s publicly available reports filed with the SEC, which contain discussions of various factors that may affect the business or financial results of Dex, SuperMedia or the combined company. Such risks and other factors, which in some instances are beyond either company’s control, include: the continuing decline in the use of print directories; increased competition, particularly from existing and emerging digital technologies; ongoing weak economic conditions and continued decline in advertising sales; the companies’ ability to collect trade receivables from customers to whom they extend credit; the companies’ ability to generate sufficient cash to service their debt; the companies’ ability to comply with the financial covenants contained in their debt agreements and the potential impact to operations and liquidity as a result of restrictive covenants in such debt agreements; the companies’ ability to refinance or restructure their debt on reasonable terms and conditions as might be necessary from time to time; increasing interest rates; changes in the companies’ and the companies’ subsidiaries credit ratings; changes in accounting standards; regulatory changes and judicial rulings impacting the companies’ businesses; adverse results from litigation, governmental investigations or tax related proceedings or audits; the effect of labor strikes, lock-outs and negotiations; successful realization of the expected benefits of acquisitions, divestitures and joint ventures; the companies’ ability to maintain agreements with major Internet search and local media companies; the companies’ reliance on third-party vendors for various services; and other events beyond their control that may result in unexpected adverse operating results.

With respect to the proposed merger, important factors could cause actual results to differ materially from those indicated by forward-looking statements included herein, including, but not limited to, the ability of Dex and SuperMedia to consummate the transaction on the terms set forth in the merger agreement; the risk that anticipated cost savings, growth opportunities and other financial and operating benefits as a result of the transaction may not be realized or may take longer to realize than expected; the risk that benefits from the transaction may be significantly offset by costs incurred in integrating the companies; potential adverse impacts or delay in completing the transaction as a result of obtaining consents from lenders to Dex or SuperMedia; failure to receive the approval of the stockholders of either Dex or SuperMedia for the transaction; and difficulties in connection with the process of integrating Dex and SuperMedia, including: coordinating geographically separate organizations; integrating business cultures, which could prove to be incompatible; difficulties and costs of integrating information technology systems; and the potential difficulty in retaining key officers and personnel. These risks, as well as other risks associated with the merger, will be more fully discussed in the proxy statement/prospectus included in the registration statement on Form S-4 that Newdex intends to file with the SEC in connection with the proposed transaction.

None of Dex, SuperMedia or the combined company is responsible for updating the information contained in this document beyond the publication date, or for changes made to this document by wire services or Internet service providers.

Basis of Presentation and Non-GAAP Financial Measures

For the readers’ convenience, the financial information accompanying this release provides a reconciliation of GAAP to non-GAAP and adjusted non-GAAP measures. SuperMedia and Dex One believe that the use of non-GAAP financial measures provides useful information to investors to gain an overall understanding of its current and expected financial performance. Specifically, both companies believe the non-GAAP results provide useful information to both management and investors by excluding certain expenses, gains and losses that the companies believe are not indicative of their core operating results. In addition, non-GAAP financial measures are used by each company’s management for budgeting and forecasting as well as subsequently measuring each company’s performance and both companies believe that they are providing investors with financial measures that most closely align to their internal measurement processes.

SPMD-G

Skinny Nutritional (SKNY) Introduces Alkaline Diet Focused Skinny Water pH+

CONSHOHOCKEN, PA — (Marketwire) — 08/21/12 — Skinny Nutritional Corp. (OTCBB: SKNY) introduces Skinny Water pH+, a high alkaline and electrolyte water that will change the way we think about the water we drink.

Inspired by the alkaline diet favored by celebrities, medical practitioners and a health-conscious generation, Skinny Water pH+ is infused with minerals to keep the body balanced. Rich in magnesium, zinc and potassium found in fruits and vegetables, an alkaline diet is believed to greatly benefit overall well-being — from higher energy levels to clearer skin, increased metabolism, mental clarity and immunity.

Keeping the body alkaline may also help promote weight loss. And because the human body is about 60% water, drinking high pH water helps balance the body’s chemistry, encouraging optimal health.

Skinny Water pH+ is formulated with select minerals and pure hydration to deliver an alkaline infusion anytime, anywhere. At a suggested retail price of $1.99 per liter, it is a cost-effective way to get alkaline water, compared to state-of-the-art filtration systems that cost several thousand dollars.

Skinny Water pH+ delivers on the belief that the human body should maintain an optimum balance of acidity and alkalinity. “The body is in an alkaline state when it reaches 7 on a scale of 1 to 10. Our bodies tend to be more acidic due to the acidic nature of the typical American diet that consists of soft drinks and processed foods. Skinny Water pH+ targets a pH level of 8 to 9 to help keep the body in balance,” states Michael Salaman, CEO of Skinny Water.

As a complement to the brand’s flavored waters, Skinny Water pH+ is crystal clear, with a pure and crisp taste that features a boost of electrolytes for replenishment and added energy. It is the ultimate beverage for pure hydration with the electrolytes and alkalinity you need to maintain your body’s best balance — the drink of choice for a positive, health-conscious lifestyle.

Skinny Water pH+ will feature education materials at point of sale along with the tagline Body in Balance® — three simple words that sum up a world of difference.

ABOUT SKINNY NUTRITIONAL CORP.
Headquartered in Conshohocken, Pa., Skinny Nutritional Corp., the creators of Skinny Water®, a zero-calorie, zero-sugar, zero-sodium and zero-preservative enhanced water with key electrolytes, antioxidants, and vitamins. Skinny Water comes in six great-tasting flavors that include: Acai Grape Blueberry, Raspberry Pomegranate, Orange Cranberry Tangerine, Lemonade Passionfruit, Pink Citrus Berry, and Goji Black Cherry. Skinny Nutritional Corp. also expects to launch additional Skinny-branded beverages in the coming months. For more information, visit www.SkinnyWater.com and www.facebook.com/skinnywater.

SAFE HARBOR STATEMENT
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. When used in this release, the words “believe,” “anticipate,” “think,” “intend,” “plan,” “will be,” “expect,” and similar expressions identify such forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the Company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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For press Inquiries please contact:
Cathy O’Brien
Catherine Pope
AAM Management
(212) 661-1336
cathy@aammanagement.com
catherine@aammanagement.com

For company inquiries please contact:
Michael Salaman,
Chief Executive Officer
Skinny Nutritional Corp.
1100 Hector Street, Suite 391
Conshohocken, PA 19428
(610) 784-2000

dELiA*s, Inc. (DLIA) Announces Second Quarter 2012 Results

dELiA*s, Inc. (NASDAQ: DLIA), a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, today announced the results for its second quarter of fiscal 2012.

Second Quarter Fiscal 2012 Highlights:

• Total revenue increased 8.9% to $48.3 million from $44.3 million in the second quarter of fiscal 2011. Revenue from the retail segment increased 8.8% to $28.7 million, including a comparable store sales increase of 14.0%. Revenue from the direct segment increased 9.1% to $19.6 million.
• Consolidated gross margin was 33.4% compared to 27.0% in the prior year quarter, primarily due to increased merchandise margins and leveraging of occupancy costs.
• Net loss was $5.2 million, or $0.17 per diluted share, compared to net loss for the second quarter of fiscal 2011 of $9.6 million, or $0.31 per diluted share.

Walter Killough, Chief Executive Officer, commented, “We are extremely pleased with our second quarter performance in both our retail and direct segments. Our results were driven by favorable customer reaction to the changes in our merchandise assortments and visual presentation for our dELiA*s brand, which led to double digit increases in both comparable store sales and in our dELiA*s direct business, as well as higher merchandise margins.”

Mr. Killough continued, “In our retail segment, based on current trends we expect mid-single digit positive comparable store sales for the month of August, with improved merchandise margins. In the dELiA*s direct business, we have released our July and August catalogs which have generated double-digit sales increases to date compared to last year. We believe our performance demonstrates that our strategic initiatives have been effective and should continue to deliver improved results.”

Results by Segment

Retail Segment Results

Total revenue for the retail segment for the second quarter of fiscal 2012 increased 8.8% to $28.7 million from $26.4 million in the second quarter of fiscal 2011. Retail comparable store sales increased 14.0% for the second quarter of fiscal 2012 compared to an increase of 7.2% for the second quarter of fiscal 2011.

Gross margin for the retail segment, which includes distribution, occupancy and merchandising costs, was 26.2% for the second quarter of fiscal 2012 compared to 16.0% in the prior year period. The increase in gross margin resulted primarily from higher merchandise margins, driven by increased full price selling and fewer markdowns, and the leveraging of reduced occupancy costs.

Selling, general and administrative (SG&A) expenses for the retail segment were $11.3 million, or 39.3% of sales, in the second quarter of fiscal 2012 compared to $11.8 million, or 44.7% of sales, in the prior year period. The decrease in SG&A expenses in dollars and as a percent of sales reflects the leveraging of reduced selling, overhead and depreciation expenses.

The operating loss for the second quarter of fiscal 2012 for the retail segment was $3.7 million compared to $7.5 million in the prior year period. Included in the second quarter of fiscal 2012 were store closing costs of $0.3 million.

The Company closed three stores during the second quarter of fiscal 2012, ending the period with 109 stores.

Direct Segment Results

Total revenue for the direct segment for the second quarter of fiscal 2012 increased 9.1% to $19.6 million from $18.0 million in the second quarter of fiscal 2011.

Gross margin for the direct segment was 44.0% for the second quarter of fiscal 2012 compared to 43.1% in the second quarter of fiscal 2011. The increase in gross margin resulted primarily from higher merchandise margins partially offset by higher shipping and handling costs.

SG&A expenses for the direct segment were $10.2 million, or 52.3% of sales, in the second quarter of fiscal 2012 compared to $9.6 million, or 53.6% of sales, in the prior year period. The increase in SG&A expenses in dollars resulted primarily from costs related to the closing of our customer contact center and additional investments in web-based marketing. The decrease in SG&A expenses as a percent of sales reflects the leveraging of selling and depreciation expenses on higher sales.

Operating loss for the second quarter of fiscal 2012 for the direct segment was $1.3 million as compared to $1.9 million in the prior year period. Included in the second quarter of fiscal 2012 was incremental gift card breakage income of $0.3 million, and the aforementioned costs related to the closing of our customer contact center of $0.3 million.

Balance Sheet Highlights

At the end of the second quarter of fiscal 2012, cash and cash equivalents were $11.7 million compared with $22.2 million at the end of the second quarter of fiscal 2011.

Total net inventories at the end of the second quarter of fiscal 2012 were $38.0 million compared with $39.9 million at the end of the second quarter of fiscal 2011. Inventory per average retail store was down 2.1% compared to the prior year period, and inventory for the direct segment was down 1.1% compared to the prior year.

First Six Month Results

For the six-month period ended July 28, 2012, total revenue increased 7.8% to $100.8 million from $93.5 million for the prior year period. Total gross margin was 33.3% compared to 30.4% for the prior year period. SG&A expenses were $43.1 million, or 42.7% of sales, for the first six months of fiscal 2012, compared to $43.3 million, or 46.3% of sales, for the prior year period.

The operating loss for the first six months of fiscal 2012 decreased to $8.5 million, compared to $14.8 million for the first six months of fiscal 2011.

Net loss for the first six months of fiscal 2012 decreased to $8.9 million, or $0.28 per diluted share, compared to a net loss of $14.1 million, or $0.45 per diluted share, for the first six months of fiscal 2011. Included in the first six months of fiscal 2012 is gift card breakage of $1.0 million, or $0.03 per diluted share, compared to $0.1 million, or $0.00 per diluted share, in first six months of fiscal 2011.

The provision for income taxes for fiscal 2012 was $0.1 million, or $0.00 per diluted share, compared to an income tax benefit of $0.9 million, or $0.03 per diluted share, for fiscal 2011.

Conference Call and Webcast Information

A conference call to discuss second quarter 2012 results is scheduled for Monday, August 20, 2012 at 10:00 A.M. Eastern Time. The conference call will be webcast live at www.deliasinc.com. A replay of the call will be available until September 20, 2012 and can be accessed by dialing (877) 870-5176 and providing the pass code number 8727634.

During the conference call, the Company may discuss and answer questions concerning business and financial developments and trends. The Company’s responses to questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been disclosed previously.

About dELiA*s, Inc.

dELiA*s, Inc. is a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women. Its brands – dELiA*s and Alloy – generate revenue by selling apparel, accessories and footwear to consumers through direct mail catalogs, websites, and dELiA*s mall-based retail stores.

Forward-Looking Statements

This announcement may contain forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our expectations and beliefs regarding our future results or performance. Because these statements apply to future events, they are subject to risks and uncertainties. When used in this announcement, the words “anticipate”, “believe”, “estimate”, “expect”, “expectation”, “should”, “would”, “project”, “plan”, “predict”, “intend” and similar expressions are intended to identify such forward-looking statements. Our actual results could differ materially from those projected in the forward-looking statements. Additionally, you should not consider past results to be an indication of our future performance. For a discussion of risk factors that may affect our results, see the “Risk Factors That May Affect Future Results” section of our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and quarterly reports on Form 10-Q. We do not intend to update any of the forward-looking statements after the date of this announcement to conform these statements to actual results, to changes in management’s expectations or otherwise, except as may be required by law.

Rosetta Genomics (ROSG) Expands Mgmt Team, Lab Capacities and Commercial Operations

Prepares for Anticipated Growth for Award-Winning, Next-Generation microRNA Diagnostics

PHILADELPHIA and REHOVOT, Israel, Aug. 20, 2012 /PRNewswire/ — Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostics, today announced the completion of three executive hires and an expansion of its commercial  operations in preparation for expected sales growth of its microRNA diagnostic assays, specifically its flagship product miRview^® mets².  The Company recently announced a co-marketing agreement with Precision Therapeutics, Inc. for miRview^® mets², as well as a recent decision by Medicare to reimburse the miRview^® mets² assay.

“In addition to the terrific management hires we are announcing today, we have begun the process of adding sales representatives to our oncology-focused sales team and have already doubled the capacity of our laboratory operations in anticipation of an increase in demand as our miRview^® mets² assay gains further market acceptance,” stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.  “In addition, we have begun the process of adding to our national accounts management team to work with private payers to increase the number of covered lives for our miRview^® mets² assay.

“With 200,000 patients in the U.S. diagnosed with Cancers of Unknown or Uncertain Primary (“CUP”) each year, there is a significant market opportunity for miRview^® mets².  Our goal is to articulate our value with this lead product and then leverage that success to advance the commercialization of other products in our portfolio,” added Mr. Berlin.

The following individuals recently joined or are soon expected to join the Company’s management team:

• As previously announced, Ron Kalfus joined Rosetta Genomics in May 2012 as Chief Financial Officer, succeeding interim CFO Tomer Assis.  Previously Mr. Kalfus served as CFO and Treasurer of MabCure Inc., a publicly traded biotechnology startup company focused on early cancer detection using monoclonal antibodies.  Prior to that he was with Toys “R” Us for four years where he was responsible for the company’s SEC reporting and later in the financial planning department managing the Toys “R” Us division’s annual budget.  Mr. Kalfus previously worked in public accounting where he specialized in audits of medium-sized enterprises and public companies.  He is a licensed CPA in the State of New Jersey, and holds a Masters in Accounting from Fairleigh Dickinson University and a Bachelor’s degree in Finance from the University of Georgia.
• Guy C. Malchi will join Rosetta Genomics on September 2, 2012, in the newly created position of Executive Vice President of Corporate Development.  Most recently he was with Champions Oncology, Inc. where he was General Manager, UK Diagnostic Subsidiary and Head of Pharma Business.  At Champions he designed and implemented the drug pipeline strategy and business plan, and signed several licensing deals and strategic partnerships with leading biotechnology firms and academic institutions.  Previously he was CEO of Optimata, Ltd., an Israeli biotechnology company that developed and marketed biosimulation predictive software.  Mr. Malchi spent seven years at TEFEN Ltd., Management Consulting in London, where he was a Founding Partner and Head of European Life Science Practice.  Mr. Malchi holds a B.Sc. in Industrial Engineering from Tel-Aviv University and an Executive MBA from the London Business School.  Guy will focus on leading the Company’s effort to leverage its microRNA platform in partnerships with pharmaceutical and biotechnology companies, as well as with medical technology and diagnostic companies.  In addition he will lead efforts aimed at licensing and/or acquiring new opportunities.
• Steve Miller joined the Company in June 2012 in the newly created position of Director of Marketing and Reimbursement.  Prior to Rosetta Mr. Miller operated his own marketing and reimbursement consultancy business.  Previously he spent nine years at Veridex, LLC, a Johnson & Johnson company focused on oncology medical devices and diagnostics, where he was Worldwide Product Director with responsibility for brand P&L, and the development and execution of annual marketing plans.  During his last two years with Veridex, Mr. Miller also played a key leadership role in brand reimbursement efforts. Prior to that he was Worldwide Product Director for the Ortho-Clinical Diagnostics blood donor screening franchise. Mr. Miller received a higher technical diploma in Applied Biology from the North East Surrey College of Technology in the UK.  Mr. Miller will focus on driving adoption of Rosetta’s marketed assays as well as widening the insurance coverage for these assays.

“It is with great pleasure that I welcome Ron, Guy and Steve to the Rosetta team.  Their collective experience, relationships and know-how will be invaluable as we work to capitalize on our powerful and versatile microRNA platform and as we leverage our growing commercial operation to expand product sales and attract potential partnerships and collaborations,” added Mr. Berlin.

About Rosetta Genomics

Rosetta develops and commercializes a full range of microRNA-based molecular diagnostics.  Founded in 2000, Rosetta’s integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Rosetta’s miRview® product line is commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab.  Frost & Sullivan recognized Rosetta Genomics with the 2012 North American Next Generation Diagnostics Entrepreneurial Company of the Year Award.

Forward-Looking Statement Disclaimer

Various statements in this release concerning Rosetta’s future expectations, plans and prospects, including without limitation, statements relating to Rosetta’s strategic plan and the market acceptance of Rosetta’s miRview^® assays, particularly miRview^® mets², constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995.  Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those risks more fully discussed in the “Risk Factors” section of Rosetta’s Annual Report on Form 20-F for the year ended December 31, 2011 as filed with the SEC.  In addition, any forward-looking statements represent Rosetta’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.

Ocean Power Tech (OPTT) Awarded FERC License For Oregon Wave Power Station

Ocean Power Technologies, Inc. (Nasdaq: OPTT) (“OPT” or “the Company”) today announced that its wholly-owned Oregon subsidiary, Reedsport OPT Wave Park, LLC, has received approval from the U.S. Federal Energy Regulatory Commission (“FERC”) for the full build-out of its planned 1.5 megawatt, grid-connected wave power station off Reedsport, Oregon.

This is the first FERC license for a wave power station issued in the United States and provides an important regulatory approval for the deployment of up to ten (10) OPT devices generating enough electricity for approximately 1,000 homes. Construction of the initial PowerBuoy^® is nearing completion and it is expected to be ready for deployment about 2.5 miles off the Reedsport coast later this year. OPT has received funding for this first system from the U.S. Department of Energy, with the support of the Oregon Congressional delegation, and from PNGC Power, an Oregon-based electric power cooperative.

Specifically, FERC has granted a 35-year license for grid-connected, wave energy production. This follows an extensive process of environment assessment, notifications to the public, assessment of Federal and State regulations, and consideration of a broad array of comments, recommendations and terms and conditions.

Charles F. Dunleavy, Chief Executive Officer of OPT, stated, “The issuance of this license by FERC is an important milestone for the U.S. wave energy industry as well as for OPT. It represents the culmination of thorough due diligence and consideration of input from a broad array of groups interested in our Reedsport project. The 35-year term of the license demonstrates the commercial potential of wave power, and this will support initiatives to secure financing for the project. We appreciate the efforts of many who have assisted us during this licensing process, and who recognize its positive significance for the economy and environment of Oregon as well as its coastal communities.”

In August 2010, OPT announced that it had signed a groundbreaking Settlement Agreement (“SA”) with 11 federal and Oregon state agencies and three non-governmental stakeholders for its utility-scale wave power project at Reedsport. FERC gave strong consideration to the agreements set forth in the SA in determining key provisions of the license. The SA supports the responsible, phased development by OPT of a 1.5 megawatt wave energy station in a manner that protects ocean resources and stakeholder interests. It covers a broad array of resource areas including aquatic resources, water quality, recreation, public safety, crabbing and fishing, terrestrial resources, and cultural resources. The SA includes an innovative Adaptive Management Plan that will be used to identify and implement environmental studies that may be required, and to provide a blueprint for the application of this new information as the wave power station develops.

After the initial PowerBuoy is deployed, OPT plans to construct the balance of the wave power station, consisting of up to nine additional PowerBuoys and grid connection infrastructure, subject to receipt of additional funding and all necessary regulatory approvals.

About Ocean Power Technologies

Ocean Power Technologies, Inc. (Nasdaq: OPTT) is a pioneer in wave-energy technology that harnesses ocean wave resources to generate reliable and clean and environmentally-beneficial electricity. OPT has a strong track record in the advancement of wave energy and participates in an estimated $150 billion annual power generation equipment market. OPT’s proprietary PowerBuoy® system is based on modular, ocean-going buoys that capture and convert predictable wave energy into clean electricity. The Company is widely recognized as a leading developer of on-grid and autonomous wave-energy generation systems, benefiting from 15 years of in-ocean experience. OPT is headquartered in Pennington, New Jersey, USA with an office in Warwick, UK, and operations in Melbourne and Perth, Australia. More information can be found at www.oceanpowertechnologies.com.

Forward-Looking Statements

This release may contain “forward-looking statements” that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current expectations about its future plans and performance, including statements concerning the impact of marketing strategies, new product introductions and innovation, deliveries of product, sales, earnings and margins. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company’s most recent Forms 10-Q and 10-K and subsequent filings with the SEC for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.

Asia Entertainment & Resources (AERL) New Incentive Program for Non-Credit Large Agents

Asia Entertainment & Resources Ltd. (“AERL” or the “Company”) (NASDAQ: AERL), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, today announced it will implement a new program for large VIP agents who do not require credit from AERL (“non-credit agents”), effective September 1.

As mentioned in an earlier release, the Company has recently tightened its credit policies due to the slowdown in the economy in China, which has slowed year-over-year growth of AERL’s Rolling Chip Turnover. As an incentive to attract more non-credit agents, the Company will, beginning September 1, provide an option for these non-credit large agents to share the win/loss under the revenue sharing model based on their proportionate contribution of total Rolling Chip Turnover.

With this new program, AERL expects to reignite growth in Rolling Chip Turnover by attracting non-credit agents to bring more patrons into the Company’s VIP rooms, which would not result in any additional credit risk to AERL. The increase in Rolling Chip Turnover should result in higher monthly revenue from the casino operators and ultimately allow AERL to negotiate for a higher interest-free line of credit from the casino operators. In addition, this may enable the Company to negotiate a higher revenue sharing percentage on the revenue sharing model and would provide the opportunity for AERL to receive invitations to open future VIP rooms at other casinos on favorable terms. Furthermore, the increase in Rolling Chip Turnover will help mitigate the volatility of the revenue sharing model. When the economy improves, the Company can consider extending credit to these non-credit agents, which will help to further expand the Company’s agent network.

”This incremental non-credit business will have lower margins than our existing credit business, but we believe the new program will ultimately be responsible for an increase in our net income,” said AERL Chairman Lam. “As well as providing long-term value for our shareholders, we believe the program will give these agents a sense of loyalty and belonging to our Company.”

About Asia Entertainment & Resources Ltd.

AERL, formerly known as CS China Acquisition Corp., acquired Asia Gaming & Resort Limited (“AGRL”) on February 2, 2010. AERL is an investment holding company which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, and is entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. AERL’s VIP room gaming promoters currently participate in the promotion of three major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One VIP gaming room is located at the top-tier 5-star hotel, the Star World Hotel & Casino in downtown Macau, and another is located in the luxury 5-star hotel, the Galaxy Macau™ Resort in Cotai, each of which is operated by Galaxy Casino, S.A. The third VIP gaming room is located at the Venetian Macao-Resort-Hotel in Cotai.

Forward Looking Statements

This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of AERL’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.

Hauppauge (HAUP) Introduces The Best HD Video Game Recorder Yet: HD PVR 2 Gaming Edition

Higher Performance, Easier Installation, HDMI In and Out, Smaller Size, 1080p “No Delay Pass-Through” and Much More

Longhai Steel (LGHS) Q2 2012 Earnings Call Transcript; TTM EPS of $1.23; Cash/Share of $1.67

Planar Systems (PLNR) Announces CFO Succession Plan

Planar Systems, Inc. (NASDAQ:PLNR), a worldwide leader in specialty display solutions today announced the succession plan for the company’s chief financial officer, Scott Hildebrandt, who is stepping down at the end of this calendar year. Ryan Gray, Planar’s vice president of finance, will become the company’s CFO on January 1, 2013. Mr. Hildebrandt will remain on the management team as senior vice president and CFO through the end of calendar 2012 to ensure a smooth transition, and will then move into a part time strategic role for Planar beginning in January of 2013.

Mr. Gray, age 38, joined Planar Systems in 2005 as the director of finance for worldwide operations. He was appointed vice president and corporate controller in 2009. In Mr. Gray’s current role as vice president of finance, he leverages his deep financial acumen and leadership skills to manage the finance and accounting functions worldwide as well as lead the company’s investor relations activities. In addition to helping to build Planar’s global finance organization, Mr. Gray brings nearly two decades of experience in the high technology industry to the CFO role at Planar. He has held significant financial planning and analysis, business partnering and treasury positions at Sequent, Radisys, Merant and Tektronix where he supported multi-hundred-million-dollar high tech businesses. He has a B.S. in Finance from the University of Portland.

“I have thoroughly enjoyed building and leading such a strong finance and accounting organization here at Planar,” said Mr. Hildebrandt. “Ryan and I have worked closely together to achieve a number of organizational successes through the years, and I have complete confidence in his ability to continue a focus on strong accounting and control discipline, investor relations, organizational development and value added business partnering.”

“Scott has been a tremendous asset to the organization, and I would like to thank him for the stewardship and leadership he has provided throughout his tenure,” said Gerry Perkel, president and CEO of Planar Systems. “I look forward to continuing to work with him in a strategic role. In addition, I’m pleased to have such a high-caliber executive like Ryan ready to step into the CFO role as a part of our orderly succession plans.”

ABOUT PLANAR

Planar Systems Inc. (NASDAQ:PLNR) is a global leader in digital display technology providing premier solutions for the world’s most demanding environments. Retailers, educational institutions, government agencies, businesses, utilities and energy firms, and home theater enthusiasts all depend on Planar to provide superior performance when image experience is of the highest importance. Planar solutions are used by the world’s leading organizations in applications ranging from digital signage to simulation and from interactive kiosks to large-scale data visualization. Founded in 1983, Planar is headquartered in Oregon, USA, with offices, manufacturing partners, and customers worldwide. For more information, visit www.planar.com.

SeniorFriendFinder.com (FFN) Offers Free Communication Weekend

Friday, August 17th through Sunday, August 19th

SUNNYVALE, Calif., Aug. 17, 2012 /PRNewswire/ — FriendFinder Networks Inc. (NasdaqGM: FFN) today announced that its leading website for mature singles, SeniorFriendFinder.com is offering a “Free Communication Weekend” beginning today, August 17 through Sunday, August 19.  Over the next three days, existing members as well as new sign-ups will have the opportunity to view profiles and send messages to all SeniorFriendFinder.com members.  With more than 2.4 million registrants since the site’s inception, SeniorFriendFinder.com is more than just a seniors dating service – it is a place where mature singles meet people for friendships, to share new experiences with, for dating and marriage.

“By providing open access for the weekend, members will clearly see the advantages of upgrading to a premium membership,” says Anthony Previte, Chief Executive Officer of FriendFinder Networks Inc.  “The free communication weekend will benefit the whole SeniorFriendFinder community and attract new members.”

SeniorFriendFinder.com’s platform offerings of chat rooms, instant messaging, photo galleries, private messaging and more provide its members a variety of options to connect with people in their community.  To sign-up and take advantage of the Free Communication Weekend, please visit www.SeniorFriendFinder.com.

About FriendFinder Networks Inc.
FriendFinder Networks Inc. (www.FFN.com) is an internet-based social networking and technology company operating several of the most heavily visited websites in the world, including AdultFriendFinder.com, Amigos.com, AsiaFriendFinder.com, Cams.com, FriendFinder.com, BigChurch.com and SeniorFriendFinder.com. FriendFinder Networks Inc. also distributes original pictorial and video content and engages in brand licensing. FriendFinder Networks is listed on the NasdaqGM under the ticker symbol FFN.

Media Contact for FriendFinder Networks Inc.
Lindsay Trivento
Director of Corporate Communications
561.912.7010 or ltrivento@ffn.com

EDAP (EDAP) Completes Follow-Up Phase and Data Collection for FDA ENLIGHT Trial

LYON, France, Aug. 17, 2012 (GLOBE NEWSWIRE) — EDAP TMS SA (Nasdaq:EDAP), the global leader in therapeutic ultrasound, today provided an update regarding its Ablatherm-HIFU (High Intensity Focused Ultrasound) ENLIGHT U.S. clinical trial for the indication of low risk, localized prostate cancer. The trial is a multi-center U.S. Phase II/III clinical trial conducted under an Investigational Device Exemption (IDE) granted by the FDA. As previously announced, the last Ablatherm-HIFU patient was treated in June 2010. The two year anniversary of the last patient treated occurred on June 30, 2012, which marked the conclusion of the two year follow-up phase, and the Company confirms the completion of all two year follow-up visits.

John Rewcastle, Medical Director of EDAP-TMS, remarked, “After the second anniversary of the last patient treated, and according to the approved protocol, patients have two months to present at the trial sites for their last follow-up visit. Now that every patient has completed their follow-up visit, we will be in a position to commence the clinical analysis of the collected data. In parallel with this analysis, EDAP’s team in the U.S. and France has already started to compile the comprehensive Premarket Approval (PMA) submission that includes a detailed review of the Company’s technical and manufacturing capabilities, along with the clinical analysis of the collected U.S. patient data.”

Marc Oczachowski, Chief Executive Officer of EDAP-TMS, stated, “Our integrated team in the U.S. and France is committed to assembling the technical, non-clinical laboratory studies and clinical investigations sections of the submission, which is hundreds of pages long. We are on track to submit the filing to the U.S. FDA in the fourth quarter of 2012.”

About EDAP TMS SA

EDAP TMS SA develops and markets Ablatherm®, the most advanced and clinically proven choice for high-intensity focused ultrasound (HIFU) treatment of localized prostate cancer. HIFU treatment is shown to be a minimally invasive and effective treatment option with a low occurrence of side effects. Ablatherm-HIFU is generally recommended for patients with localized prostate cancer (stages T1-T2) who are not candidates for surgery or who prefer an alternative option, or for patients who failed radiotherapy treatment. Approved in Europe as a treatment for prostate cancer, Ablatherm-HIFU (High Intensity Focused Ultrasound) is currently undergoing evaluation in a multi-center U.S. Phase II/III clinical trial under an Investigational Device Exemption (IDE) granted by the FDA, the ENLIGHT U.S. clinical study. The Company also is developing this technology for the potential treatment of certain other types of tumors. EDAP TMS SA also produces and commercializes medical equipment (the Sonolith® range) for treatment of urinary tract stones using extra-corporeal shockwave lithotripsy (ESWL). For more information on the Company, please visit http://www.edap-tms.com, and http://www.hifu-planet.com

About ISTU

The International Society for Therapeutic Ultrasound (ISTU) is a non-profit organization founded in 2001 to increase and diffuse knowledge of therapeutic ultrasound to the scientific and medical community, and to facilitate the translation of therapeutic ultrasound techniques into the clinical arena for the benefit of patients worldwide.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding the Company’s growth and expansion plans, the conclusiveness of the results of and success of its Ablatherm-HIFU clinical trials and expectations regarding the IDE submission to and approval by the FDA of the Ablatherm-HIFU device. Such statements are based on management’s current expectations and are subject to a number of uncertainties, including the uncertainties of the regulatory process, and risks that could cause actual results to differ materially from those described in these forward-looking statements. Factors that may cause such a difference include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission and in particular, in the sections “Cautionary Statement on Forward-Looking Information” and “Risk Factors” in the Company’s Annual Report on Form 20-F. Ablatherm-HIFU treatment is in clinical trials, but not FDA-approved or marketed in the United States.

CONTACT: Blandine Confort
         Investor Relations / Legal Affairs
         EDAP TMS SA
         +33 4 72 15 31 72
         bconfort@edap-tms.com

         Investors:
         Stephanie Carrington
         The Ruth Group
         646-536-7017
         scarrington@theruthgroup.com

ENGlobal (ENG) Q2 2012 Earnings Date and Conference Call Webcast

Originally scheduled for August 14, 2012

Houston, TX, Aug. 17, 2012 (GLOBE NEWSWIRE) — ENGlobal Corporation (NASDAQ: ENG), a leading provider of energy-related project delivery solutions, announced today that it has rescheduled the announcement of its second quarter 2012 results originally scheduled for August 14, 2012 in order to provide management additional time to complete its Quarterly Report on Form 10-Q.

ENGlobal’s second quarter 2012 earnings announcement is scheduled for issuance on Monday, August 20, 2012 after market.  Likewise, the Company’s Quarterly Report on Form 10-Q for the same period is expected to be filed in conjunction with its earnings announcement on Monday, August 20, 2012.

ENGlobal will be discussing its second quarter results on a conference call and webcast that will be broadcast live over the Internet on Tuesday, August 21, 2012 at 11:00 a.m. Eastern Daylight Time (10:00 a.m. CDT).  To participate in the conference call, please dial (877) 711-4010 (Domestic) or (706) 643-4549 (International), and enter the Conference ID #94115037 approximately 10 minutes before the scheduled start time and request the “ENGlobal Second Quarter 2012 Earnings Call.” If you are unable to join the call, a replay will be available approximately three hours after the conclusion of the call until Monday, September 3, 2012. The replay can be accessed by dialing (855) 859-2056 (Domestic) or (404) 537-3406 (International), Conference ID #94115037.

The call will be webcast live at www.ENGlobal.com in the Investor Relations section, and an audio archive will be available on the Company’s website within two hours after the call concludes. The complete earnings release will be located in the Investor Relations section of the website on the News page.

About ENGlobal

ENGlobal (NASDAQ: ENG), founded in 1985, is a provider of engineering and related project services principally to the energy sector throughout the United States and internationally. ENGlobal operates through three business segments: Automation, Engineering & Construction, and Field Solutions. ENGlobal’s Automation segment provides services related to the design, fabrication & implementation of process distributed control and analyzer systems, advanced automation, and related information technology.  The Engineering & Construction segment provides consulting services relating to the development, management and execution of projects requiring professional engineering as well as inspection, construction management, mechanical integrity, field support, quality assurance and plant asset management. ENGlobal’s Field Solutions segment provides project management and staffing for right-of-way and site acquisition, inspection, permitting, regulatory, and legislative outreach. ENGlobal has approximately 1,900 employees in 12 offices and 9 cities. Further information about the Company and its businesses is available at www.ENGlobal.com.

Safe Harbor for Forward-Looking Statements

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties including, but not limited to; (1) the Company’s ability to achieve its business strategy while effectively managing costs and expenses; (2) the Company’s ability to successfully and profitably integrate acquisitions; and (3) the successful financial performance of each business unit.  Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in ENGlobal’s filings with the Securities and Exchange Commission. In addition, reference is hereby made to cautionary statements set forth in the Company’s most recent reports on Form 10-K and 10-Q, and other SEC filings. Also, the information contained in this press release is subject to the risk factors identified in the Company’s most recent Form 10-K.

Click here to join our email list: http://www.b2i.us/irpass.asp?BzID=702&to=ea&s=0.

CONTACT: Natalie Hairston
         281-878-1040
         ir@englobal.com

Ur-Energy (URG) Receives the Lost Creek Final Environmental Impact Statement from BLM

Lantronix (LTRX) to Present at 2012 Southern California Investor Conference, August 30

IRVINE, CA — (Marketwire) — 08/16/12 — Lantronix, Inc. (NASDAQ: LTRX), a leading global provider of smart M2M connectivity solutions, today announced that the company’s management will present at the 2012 Southern California Investor Conference on August 30, 2012 at the Marriott Hotel in Newport Beach, California.

Lantronix will provide an overview of the company’s business and a discussion of its technologies at the event. A live webcast of the presentation will be available via the investor relations section of the company’s website at www.lantronix.com.

About Lantronix
Lantronix, Inc. (NASDAQ: LTRX) is a global leader of smart, secure M2M communication technologies that simplify access and communication with and between virtually any electronic device. Our smart connectivity solutions enable sharing data between devices and applications to empower businesses to make better decisions based on real-time information, and gain a competitive advantage by generating new revenue streams, improving productivity and increasing efficiency and profitability. Easy to integrate and deploy, Lantronix products remotely and securely connect electronic equipment via networks and the Internet. Founded in 1989, Lantronix serves some of the largest medical, security, industrial and building automation, transportation, retail/POS, financial, government, consumer electronics/appliances, IT/data center and pro-AV/signage entities in the world. The company’s headquarters are located in Irvine, Calif.

For more information, visit www.lantronix.com. The Lantronix blog, http://www.lantronix.com/blog, features industry discussion and updates. To follow Lantronix on Twitter, visit http://www.twitter.com/Lantronix.

Investor Relations Contacts:
Lantronix, Inc.
Jeremy Whitaker
Chief Financial Officer
(949) 453-3990

E.E. Wang Lukowski
investors@lantronix.com

Arotech’s FAAC (ARTX) Gets $6.1M for Army National Guard Operator Driving Simulators

ANN ARBOR, MI — (Marketwire) — 08/16/12 — FAAC Incorporated, part of Arotech Corporation’s (NASDAQ: ARTX) Training and Simulation Division, has received a contract to supply its Military Operator Driving Simulators (ODS) to the Army National Guard (ARNG). Under the contract, valued at $6.1 million, FAAC will deliver a total of eight trailer systems to National Guard locations in Arizona, Indiana, Kansas, Kentucky, Massachusetts, South Dakota, and Nevada. Each trailer will include two driving simulators capable of training operators of the M915, M939, FMTV, HEMTT, PLS, HET, M1114 HMMWV, MRAP Cougar and MRAP-All Terrain (M-ATV) vehicles.

The first system will be delivered concurrent with the 134th National Guard Association of the United States General Conference & Exhibition to be held September 9-12 in Reno, NV. The system will be displayed on the exhibit floor with delivery to the Nevada National Guard immediately following the conference.

The ARNG ODS systems will provide student operators with a realistic and high-fidelity operational experience for both on-road & off-road conditions in differing environmental conditions over simulated geographical regions ranging from standard U.S. roadways to areas representing deployment locations. This award is a continuation of a multi-year Guard procurement strategy that has currently fielded 19 ARNG ODS systems.

“We are pleased to be in position to continue to support the readiness and preparation of the Army National Guard,” said Todd Glenn, FAAC Director of Military Business Development. “The Operator Driving Simulator provides an immersive, realistic, experience allowing Guard operators to learn skills necessary to operate the vehicles and prepare for conditions expected at widely varying deployment locations. Through use of the ODS, the National Guard can maintain operator proficiency, ensure training standards, and remain prepared to serve their essential role in our Nation’s defense,” concluded Glenn.

About Arotech’s Training and Simulation Division

Arotech’s Training and Simulation Division (ATSD) provides world-class simulation based training solutions. ATSD develops, manufactures, and markets advanced high-tech multimedia and interactive digital solutions for engineering, use-of-force, and driver training simulations for military, law enforcement, security, municipal and private industry personnel. The division’s fully interactive driver-training systems feature state-of-the-art vehicle simulator technology enabling training in situation awareness, risk analysis and decision-making, emergency reaction and avoidance procedures, and conscientious equipment operation. The division’s use-of-force training products and services allow organizations to train their personnel in safe, productive, and realistic environments. The division provides consulting and developmental support for engineering simulation solutions. The division also supplies pilot decision-making support software for the F-15, F-16, F-18, F-22, and F-35 aircraft, as well as simulation models for the ACMI/TACTS air combat training ranges.

Arotech’s Training and Simulation Division consists of FAAC Incorporated (www.faac.com), IES Interactive Training (www.ies-usa.com), and Realtime Technologies (www.simcreator.com).

About Arotech Corporation

Arotech Corporation is a leading provider of quality defense and security products for the military, law enforcement and homeland security markets, including multimedia interactive simulators/trainers and advanced zinc-air and lithium batteries and chargers. Arotech operates through two major business divisions: Training & Simulation and Battery & Power Systems.

Arotech is incorporated in Delaware, with corporate offices in Ann Arbor, Michigan, and research, development and production subsidiaries in Alabama, Michigan, and Israel. For more information on Arotech, please visit Arotech’s website at www.arotech.com.

Except for the historical information herein, the matters discussed in this news release, including any earnings guidance, include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary materially. These risks and uncertainties include, but are not limited to, risks relating to: product and technology development; the uncertainty of the market for Arotech’s products; changing economic conditions; delay, cancellation or non-renewal, in whole or in part, of contracts or of purchase orders; and other risk factors detailed in Arotech’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and other filings with the Securities and Exchange Commission. Arotech assumes no obligation to update the information in this release. Reference to the Company’s websites above does not constitute incorporation of any of the information thereon into this press release.

Contact
For more information on FAAC Incorporated or its military products, please contact
Todd Glenn
1.352.343.6606
or visit our website at www.faac.com

For more information on Arotech or investor and public relations, please contact
Victor Allgeier
TTC Group
1.646.290.6400

Midway (MDW) Reports Strong Progress at The Pan Gold Project, Nevada

Midway Reports Strong Progress at The Pan Gold Project, Nevada

Denver, CO US, August 16, 2012 /FSC/ – Midway Gold Corp. (MDW – TSX Venture, MDW – NYSE – Amex),today announced that engineering and permitting activities continue to advance at a rapid pace at its 100%-owned Pan heap leach gold project located in White Pine County, Nevada.  Recent project development activities include:

* Completion of the scoping phase of the federal permitting process, including public meetings. Base line studies are complete and JBR Environmental, a third-party consulting firm, is currently preparing a draft version of the Environmental Impact Statement (EIS).

* Selection of Jacobs Engineering Group for front-end engineering of mine related infrastructure including project buildings, roads, electrical and water supply.  Jacobs is one of the world’s largest and most diverse providers of engineering, technical, and construction services.  Forbes Magazine ranked Jacobs one of the top three engineering and construction companies in 13 of the last 14 years.

* Acquisition of adequate water rights for mineral processing and completion of a production size water well and five monitor wells.

* Completion of engineering for the heap leach pad and ponds by SRK Consulting.

* Completion of engineering design and permitting for a new access road and selection of a contractor.

* Selection of Summit Valley Technologies (SV), a division of FL Smidth, to provide gold recovery equipment for the processing plant. SV is a world-wide leader for supplying gold recovery equipment.

* Ongoing large scale column tests to determine gold recovery amounts from larger size material which could reduce crushing requirements and lower capital costs.

* Ongoing diamond drilling for crusher site characterization, reverse circulation drilling to test deep exploration targets, and follow-up condemnation drilling beneath proposed mine facilities.

Ken Brunk, Midway’s President and CEO, commented, “We continue to make excellent progress in the development of Pan which will be our first producing gold mine.  We have completed key milestones in our permitting process and selected high-quality engineering firms with significant experience in the construction of gold mines in Nevada.  Midway’s in-house engineers continue to optimize the mine plan and find ways to reduce capital and operating costs.  I am very pleased with the progress being made on multiple fronts to advance Pan toward commercial production.”

About the Pan Project

The Pan project is an oxidized, Carlin-style gold deposit mineable by shallow open pit methods and treatable by heap leaching. The project has a current Mineral Resource estimate of 1.13M oz of gold comprised of 579,000 oz gold in 37M tonnes of 0.49 gpt gold in the Measured category and 551,000 oz gold in 43M tonnes of 0.40 gpt gold in the Indicated category using a 0.14 gpt gold cutoff grade (NI 43-101 Technical Report; Sept. 1, 2011).

The Pan Project represents a US$99 million capital investment in an economically depressed part of Nevada (see Feasibility Study dated December 19, 2011).  Once in operation, the Pan mine is projected to provide 145 workers with stable, high-paying jobs.  In addition to direct employment, Midway expects the mine will have a multiplier effect by creating support jobs in the surrounding communities. A Feasibility Study was completed in November that shows the NPV (5%) of the project is robust at a range of gold prices, ranging from $123 million at $1,200/oz gold to $344M at $1,900/oz gold. The IRR grows from 32% to 79% using the same gold price range.  Both are after-tax figures (see press release dated November 15, 2011).

This release has been reviewed and approved for Midway by William S. Neal (M.Sc., CPG), Vice President of Geological Services of Midway, a “qualified person” as that term is defined in NI 43-101.

ON BEHALF OF THE BOARD
“Kenneth A. Brunk”
Kenneth A. Brunk, Chairman, President and CEO

About Midway Gold Corp.

Midway Gold Corp. is a precious metals company with a vision to explore, design, build and operate gold mines in a manner accountable to all stakeholders while assuring return on shareholder investments. For more information about Midway, please visit our website at www.midwaygold.com or contact R.J. Smith, Vice President of Administration, at (877) 475-3642 (toll-free).

Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the NYSE MKT accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to, reserve and resource estimates, estimated NPV of the project, anticipated IRR, estimated strip ratio, anticipated mining methods at the project, the estimated economics of the project, anticipated gold recoveries and annual production, estimated capital costs, operating cash costs and total production costs, planned development drilling and anticipated expansion of the resource, and the outcome of the permitting process. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company’s actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserved and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; risks related to projected project economics, recovery rates, and estimated NPV and anticipated IRR and other factors identified in the Company’s SEC filings and its filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company’s management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.

Cautionary note to U.S. investors concerning estimates of reserves and resources: This press release and the technical reports referred to in this press release use the terms “resource”, “reserve”, “measured resources”, “indicated resources” and “inferred resources”, which are terms defined under Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. Estimates of mineral resources in this press release and in the technical report referred to in this press release have been prepared in accordance with NI 43-101 and such definitions differ from the definitions in U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. Mineral resources are not mineral reserves and do not have demonstrated economic viability. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves as defined in the SEC’s Guide 7. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. It cannot be assumed that all or any part of mineral deposits in any of the above categories will ever be upgraded to Guide 7 compliant reserves. Accordingly, disclosure in this press release and in the technical reports referred to in this press release may not be comparable to information from U.S. companies subject to the reporting and disclosure requirements of the SEC.

To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/midwaygold08162012.htm

Source: Midway Gold Corp. (TSXV MDW) www.midwaygold.com

SPAR Group (SGRP) Completes Acquisition of Romanian Marketing Company

TARRYTOWN, NY — (Marketwire) — 08/16/12 — SPAR Group, Inc. (NASDAQ: SGRP), a diversified international merchandising and marketing services company that provides a broad array of services worldwide to help companies improve their sales, today announced the signing of a joint venture agreement to expand its operations in Romania. SPAR Group will control a 51% ownership interest in the company, SPAR Business Ideas Provider SRL, also known as SPAR BIP. SPAR BIP will specialize in the area of in-store merchandising.

“Management is extremely pleased with our most recent endeavor within the Romanian market, and we fully expect this addition to provide accretive earnings to our international business,” stated Gary Raymond, Chief Executive Officer of SPAR Group. “The New Venture has numerous marquee clients such as Coca-Cola, Kraft Foods, and Nestlé. Management intends to leverage SPAR BIP’s longstanding strategic relationships in order to expand our global footprint, increase market share and elevate our status as a leader within the merchandising and marketing services industry. We expect this new agreement to contribute approximately $4 million in revenue on an annual basis. Going forward, we will continue to evaluate similar opportunities and acquire similar profitable companies throughout 2012.”

Established in 2004, Business Ideas Provider SRL maintains contracts with Fortune 500 companies such as The Coca-Cola Company (KO), Kraft Foods Inc. (KFT), Nestlé S.A. (NSRGY), JTI, and Metro and has become the largest provider of in-store merchandising services in Romania since 2010. “What differentiates us from our competition is that we always try to innovate and develop more value added products for our clients. Our partnership with SPAR will bring added worldwide marketing and merchandising expertise and vision. We look forward to applying that vision and experience to our field teams to provide a superior product to our customers,” said Eugen Saulea, Managing Director and Partner of SPAR BIP.

About SPAR Group

SPAR Group, Inc. is a diversified international merchandising and marketing services Company and provides a broad array of services worldwide to help companies improve their sales, operating efficiency and profits at retail locations. The Company provides merchandising and other marketing services to manufacturers, distributors and retailers worldwide, primarily in mass merchandiser, office supply, grocery, drug, independent, convenience, electronics, toy and specialty stores, as well as providing furniture and other product assembly services, in-store events, radio frequency identification (“RFID”) services, technology services and marketing research. The Company has supplied these project and product services in the United States since certain of its predecessors were formed in 1979 and internationally since the Company acquired its first international subsidiary in Japan in May of 2001. Product services include restocking and adding new products, removing spoiled or outdated products, resetting categories “on the shelf” in accordance with client or store schematics, confirming and replacing shelf tags, setting new sale or promotional product displays and advertising, replenishing kiosks, providing in-store event staffing and providing assembly services in stores, homes and offices. Other merchandising services include whole store or departmental product sets or resets (including new store openings), new product launches, in-store demonstrations, special seasonal or promotional merchandising, focused product support and product recalls. The Company operates throughout the United States and internationally in 10 of the most populated countries, including China and India. For more information, visit the SPAR Group’s website at www.sparinc.com.

Certain statements in this news release are forward-looking, including (without limitation) expectations or guidance respecting the Company’s business fundamentals, including its cash-flow and earnings going forward and its capital structure. Undue reliance should not be placed on such forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company’s control. The Company’s actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of SPAR Group’s selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success of its international efforts, success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of those and other risk factors and cautionary statements that could affect future results, performance or trends are discussed in SPAR Group’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time. All of the Company’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.

Contact:
James R. Segreto
Chief Financial Officer
SPAR Group, Inc.
(914) 332-4100

Investors:
Alan Sheinwald
Alliance Advisors, LLC
(212) 398-3486
Email Contact

Chris Camarra
Alliance Advisors, LLC
(212) 398-3487

Digital Ally (DGLY) Announces Plans for Reverse Stock Split

OVERLAND PARK, KS — (Marketwire) — 08/16/12 — Digital Ally, Inc. (NASDAQ: DGLY), which develops, manufactures and markets advanced digital technology products for law enforcement, homeland security and commercial security applications, today announced that it has filed a notice with The Nasdaq Stock Market stating that its Board of Directors has voted to effect a 1-for-8 reverse split of its issued and outstanding common stock. The reverse stock split will be effective August 24, 2012.

The Company is taking such action in order to comply with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market. In order to remain listed, the closing bid price of the Company’s common stock must be $1.00 per share or higher for a minimum of ten consecutive business days prior to September 10, 2012, under applicable Nasdaq rules.

In September 2011, the Company received a notice from The Nasdaq Stock Market stating that the bid price of the Company’s common stock had closed below $1.00 per share for the previous 30 consecutive business days. Nasdaq provided the Company with two successive 180-day compliance periods to meet the minimum bid requirement, but it has been unable to do so to date.

The reverse split will reduce the Company’s issued and outstanding common stock from approximately 16,284,073 shares to approximately 2,035,509 shares. The number of authorized shares of common stock will be proportionally reduced from 75,000,000 to 9,375,000 shares. No fractional shares will be issued in connection with the reverse stock split. If, as a result of the reverse stock split, a stockholder would otherwise be entitled to a fractional share, the number of shares to be received by such stockholder will be rounded up to the next whole number.

About Digital Ally, Inc.

Digital Ally, Inc. develops, manufactures and markets advanced digital technology products for law enforcement, homeland security and commercial security applications. The Company’s primary development focus involves the field of Digital Video Imaging and Storage. For additional information, visit www.digitalallyinc.com

The Company is headquartered in Overland Park, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol “DGLY”.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: whether the Company will regain compliance with the minimum closing bid requirement for continued listing on The Nasdaq Capital Market; whether the Company will be able to improve its revenues and operating results during the balance of 2012 given the current economic environment; whether the Company’s new products will continue to generate an increasing portion of its total sales; competition from larger, more established companies with far greater economic and human resources; its ability to attract and retain customers and quality employees; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in its annual report on Form 10-K for the year ended December 31, 2011 and its report on Form 10-Q for the three and six months ended June 30, 2012 filed with the SEC.

For Additional Information, Please Contact:
Stan Ross
CEO
(913) 814-7774

or

RJ Falkner & Company, Inc.
Investor Relations Counsel
(830) 693-4400

Gilat (GILT) Announces Second Quarter 2012 Results

PETAH TIKVA, Israel, Aug. 15, 2012 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (Nasdaq:GILT) (TASE:GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the second quarter ended June 30, 2012.

Revenues for the second quarter of 2012 were $85.3 million, compared to $81.7 million for the same period in 2011. On a GAAP basis, operating income for the second quarter of 2012 was $2.4 million compared to an operating income of $0.2 million in the second quarter of 2011. Net income for the second quarter of 2012 was $0.9 million, or $0.02 per diluted share, and was approximately the same in the second quarter of 2011.

On a non-GAAP basis, operating income for the second quarter of 2012 was $4.8 million compared to an operating income of $2.7 million in the second quarter of 2011. On a non-GAAP basis, net income for the period was $3.2 million, or $0.07 per diluted share, compared to net income of $2.6 million, or $0.06 per diluted share, in the comparable period in 2011.

EBITDA for the second quarter of 2012 reached $8.6 million compared with $6.6 million in the comparable period in 2011.

“We are pleased with this quarter’s results and are optimistic about our prospects going forward,” stated Erez Antebi, Chief Executive Officer of Gilat. “Our Commercial Division continues to perform well and our Defense Division has started gaining traction both within the U.S. and in the global markets.”

“We saw a pick-up in our satellite-on-the-move business this quarter with new customer sales of our RaySat antennas in Russia, China, Israel and Mexico. We also received Commercial FAA Certification for our Wavestream Aerostream Transceiver earlier in the year and closed several deals with leading system integrators who provide satellite broadband services to commercial airlines and luxury cruise ships.”

“Operationally,” added Mr. Antebi, “we generated cash from operations this quarter. As our ongoing organizational changes bear fruit, we have begun to realize improved efficiencies and reduced operational expenses. Based on the solid pipeline we have developed, we expect the momentum of this quarter to continue into the second half of the year.”

Key Recent Announcements:

– Gilat has successfully completed the deployment of the first 10,000 VSATs with Optus as part of NBN Co’s Interim Satellite Service. The network is expected to grow to 48,000 sites by late 2015;

– Gilat’s SkyEdge II Hub and broadband satellite platform was chosen by Argentina’s Servicio Satelital S.A. to upgrade its existing network and provide additional support to hundreds of existing and new sites with broadband Internet and data connectivity;

– Cable & Wireless Panama, Panama’s largest telecommunications operator, chose SkyEdge II to be used to deliver broadband Internet and telephony connectivity nationwide;

– SkyEdge II-c Aries VSAT for the consumer market, which initially will be used to support SES Broadband satellite-based Internet service, won the renowned Bronze A’ Design Award;

– Wavestream was selected by Harris CapRock Communications to supply Ku-band solid state power amplifiers for integration into end-to-end VSAT antenna systems onboard Royal Caribbean cruise ships.

Conference Call and Webcast Details:

Gilat management will host a conference call today at 13:30 GMT/09:30 EDT/16:30 IDT to discuss the results. International participants are invited to access the call at (972) 3-918-0610, and US-based participants are invited to access the call by dialing (888) 407-2553. A replay of the conference call will be available beginning at approximately 16:00 GMT/12:00 EDT/19:00 IDT today, until 16:00 GMT/12:00 EST/19:00 IDT August 17, 2012. International participants are invited to access the replay at (972) 3-925-5921, and US-based participants are invited to access the replay by dialing (877) 456-0009. A replay of the call may also be accessed as a webcast via Gilat’s website at www.gilat.com and will be archived for 30 days.

Notes:

(1) The attached summary financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The attached summary financial statements are unaudited. To supplement the consolidated financial statements presented in accordance with GAAP, the Company presents Gilat’s EBITDA before the impact of non-cash share-based payment charges, depreciation and amortization, other income and other costs related to acquisition transactions. Non-GAAP presentations of net income, EBITDA and earnings per share are provided to enhance the understanding of the Company’s historical financial performance and comparability between periods.

(2) Operating income before depreciation, amortization, non-cash stock option expenses as per ASC 718 (formerly SFAS 123(R)) and other costs related to acquisition transactions (‘EBITDA’) is presented because it is a measure commonly used and is presented solely in order to improve the understanding of the Company’s operating results and to provide further perspective on these results. EBITDA, however, should not be considered as an alternative to operating income or net income for the period as an indicator of the operating performance of the Company.

Similarly, EBITDA should not be considered as an alternative to cash flows from operating activities as a measure of liquidity. EBITDA is not a measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. EBITDA may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Reconciliation between the Company’s Operating income and EBITDA is presented in the attached summary financial statements.

About Gilat Satellite Networks Ltd.

Gilat Satellite Networks Ltd (Nasdaq:GILT) (TASE:GILT) is a leading provider of products and services for satellite-based broadband communications. Gilat develops and markets a wide range of high-performance satellite ground segment equipment and VSATs, with an increasing focus on the consumer and Ka-band market. In addition, Gilat enables mobile SOTM (Satellite-on-the-Move) solutions providing low-profile antennas, next generation solid-state power amplifiers and modems. Gilat also provides managed network and satellite-based services for rural telephony and Internet access via its subsidiaries in the United States, Peru and Colombia.

With over 25 years of experience, and over a million products shipped to more than 85 countries, Gilat has provided enterprises, service providers and operators with efficient and reliable satellite-based connectivity solutions, including cellular backhaul, banking, retail, e-government and rural communication networks. Gilat also enables leading defense, public security and news organizations to implement advanced, on-the-move tactical communications on board their land, air and sea fleets using Gilat’s high-performance SOTM solutions. For more information, please visit us at www.gilat.com

The Gilat Satellite Networks Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5848

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission.

CONTACT: Rob Fink, KCSA
         Rfink@kcsa.com
         1 (212) 896 1206

         David Leichner, Gilat Satellite Networks Ltd.
         davidle@gilat.com
         (972) 3 925 2321

Wave (WAVX) Launches Cloud-Based Management for Self-Encrypting Drives

LEE, MA — (Marketwire) — 08/15/12 — Wave Systems Corp. (NASDAQ: WAVX) today launched Wave Cloud, a cloud-based service for enterprise-wide management of self-encrypting drives (SEDs). The company’s new subscription-based service introduces a game-changing platform for enterprises that wish to rapidly deploy centrally-managed hardware-based data encryption on laptops — all without the complexity and cost associated with maintaining on-premise servers.

SEDs provide one of the best defenses against data breach. Based on the Opal specification published by the Trusted Computing Group, the drives are available from leading storage vendors at little to no incremental cost from a wide range of PC suppliers, including Dell, HP, Lenovo and others. Solid-state versions of SEDs are also available. Advantages over software encryption include better performance (because encryption happens on a chip, it doesn’t compete for processing cycles); faster deployment (unlike software, SEDs don’t require an initial encryption cycle); and enhanced security (encryption cannot be turned off or otherwise compromised by the end user).

Yet despite the advantages, the need for dedicated servers and in-house IT expertise — along with tight IT budgets — has hampered wider encryption adoption.

“Organizations are looking for ways to leverage cloud offerings to reduce the complexity and costs of deploying endpoint encryption,” said Eric Ouellet, VP Secure Business Enablement at Gartner. “While the endpoint encryption market is relatively mature, deployment challenges remain. Offerings that can provide standardized, simple-to-use frameworks for typically cumbersome tasks could help accelerate growth in this segment.”

These factors, coupled with the rising popularity of cloud-based services, were the drivers for the development of Wave Cloud.

“Wave Cloud opens the door for a new generation of users to discover the top-shelf endpoint data protection afforded by SEDs,” said Brian Berger, Wave’s Executive Vice President of Marketing and Sales. “The service offers a capital-efficient and easily scalable means for rolling out self-encrypting drives in the enterprise — with the same management features to be expected from the Wave brand: remote management, policy enforcement and password retrieval.”

Subscriptions start at $37 per drive per year with a one-year agreement.

Wave Cloud has already elicited positive remarks from several beta customers, including DBConnect Solutions, Inc. based in Fort Wayne, Indiana. DBConnect is a remote service provider that specializes in Oracle data base administration for companies that use JD Edwards. Servicing small companies as well as multi-national, multi-billion global companies, DBConnect deployed Wave Cloud earlier this summer across all of its desktops and laptops used by their database administrators.

Doug Floyd, DBConnect’s Vice President of Technology, had been a proponent of SEDs, noting their better performance over software encryption, and the assurance they offered that everything on the drive was encrypted. But like other smaller firms without an internal IT staff, buying a desktop PC or server to install centralized management would have meant additional time and overhead fixing software or hardware issues. That’s why he elects to use cloud providers for most of the company’s business needs.

“It’s a great approach for small business. With Wave’s cloud service, I was able to quickly configure all of our SEDs from one central console. Because the Wave Cloud solution is hosted for us online, we can avoid the overhead of managing any additional hardware or software in house, which saves us time and money,” said Floyd. “We are able to assure our customers that even if an employee’s laptop is stolen, their data will still be safe, which is a great selling point for potential customers.”

Wave Cloud Advantages include:

• Rapid deployment. Available and deployable via the internet, Wave Cloud’s simple, point-and-click interface enables most deployments to complete in less than three days.
• Capital-efficient. Wave Cloud requires no on-site servers, and subscription fees scale to match the scope of endpoint protection that customers deploy. Pay only for what you use.
• Better performance. Because encryption happens on a chip within the SED’s drive, it doesn’t compete for processing cycles with the laptop’s CPU or slow down running applications.
• Enhanced security. An SED’s encryption is always on and cannot be turned off or otherwise compromised by the end user. SEDs are also impervious to cold-boot or side channel attacks.

Underscoring Wave’s commitment to providing leading-edge endpoint security, the company is developing additional value-added features for its Wave Cloud service which will debut later this year, including automatic enrollment of SEDs, easy integration with Microsoft BitLocker® encryption and Windows® 8 eDrive technology, and the ability to pair a device’s SED and Trusted Platform Module (TPM). This last feature promises to enhance endpoint security even further by allowing organizations to automatically switch off user authentication if an SED becomes disconnected from an organization’s network.

For more information on Wave Cloud, or to request a trial subscription, visit Wave at http://www.wave.com/products/Cloud/consultation.asp#. For additional information on the service, visit the Wave Cloud product page or download “How Cloud Computing Can Accelerate Endpoint Encryption”.

About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group.

Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements.

All brands are the property of their respective owners.

Company:
Wave Systems Corp.
Michael Wheeler
413-243-7026
mwheeler@wavesys.com

Investor Relations:
David Collins, Eric Lentini
212-924-9800

Longhai Steel (LGHS) Announces Strong Second Quarter 2012 Operating Results

XINGTAI CITY, CHINA — (Marketwire) — 08/14/12 — Longhai Steel Inc. (“Longhai” or the “Company”) (OTCQB: LGHS) (OTCBB: LGHS), a producer of high-quality steel wire products in the People’s Republic of China, today announced financial results for the three and six months ended June 30, 2012.

“We experienced a very productive first six months of 2012,” began Steven Ross, Executive Vice President of Longhai Steel. “We achieved record shipment volumes for the second consecutive quarter as the expanded production from our second facility continued to ramp. While revenue was impacted from lower steel prices, the Company sold 295,635 metric tons of steel in the second quarter, a sequential increase of 22% from the first quarter and an increase of 10% compared to the same quarter last year. As we ship more higher value steel wire to a more diversified customer base beginning in the third quarter, we expect further margin upside.”

Three Months ended June 30, 2012

----------------------------------------------------------------------------
              million USD                Q2 2012      Q2 2011      % Chg.
           (except for EPS)
----------------------------------------------------------------------------
 Net Sales                               $160.5       $165.7        -3.1%
----------------------------------------------------------------------------
 Gross Profit                             $4.8         $3.6        +33.8%
----------------------------------------------------------------------------
 Gross Margin                             3.0%         2.1%        +38.1%
----------------------------------------------------------------------------
 Operating Income                         $3.7         $3.2        +13.3%
----------------------------------------------------------------------------
 Net Income                               $2.4         $1.8        +31.9%
----------------------------------------------------------------------------
 EPS (Fully Diluted)                      $0.22        $0.18       +22.2%
----------------------------------------------------------------------------

Consolidated net revenues for the three months ended June 30, 2012 was $160.5 million compared to $165.7 million in the corresponding period a year ago, a decrease of 3.1%. Longhai sold 295,635 metric tons (“MT”) of steel in the second quarter of 2012 compared to 267,938 MT in the same period in 2011.

Gross profit was $4.8 million in the second quarter of 2012, representing a gross margin of 3.0% compared to $3.6 million and 2.1%, respectively, in the second quarter of 2011. These increases are primarily attributable to a higher spread between steel wire prices and steel billet prices, as billet prices decreased more than wire prices.

Selling, general and administrative expenses for the three months ended June 30, 2012 were $1.1 million compared to $0.3 in the second quarter of 2011. The year-over-year increase is primarily attributable to capital markets related expenses. Operating income for the three months ended June 30, 2012 increased 13.3% to $3.7 million.

Net income attributable to Longhai common shareholders was $2.4 million, an increase of 31.9% compared to $1.8 million in the second quarter of 2011. Earnings per diluted share was $0.22, an increase of 22.2% compared to $0.18 in the second quarter of 2011, based on 10.7 million and 9.9 million weighted average shares outstanding, respectively.

Six Months ended June 30, 2012

--------------------------------------------------------------------------
             million USD               1H 2012      1H 2011      % Chg.
          (except for EPS)
--------------------------------------------------------------------------
 Net Sales                             $296.3       $292.0        +1.5%
--------------------------------------------------------------------------
 Gross Profit                           $10.3        $7.5        +37.4%
--------------------------------------------------------------------------
 Gross Margin                           3.5%         2.6%        +35.5%
--------------------------------------------------------------------------
 Operating Income                       $7.9         $6.4        +23.4%
--------------------------------------------------------------------------
 Net Income                             $5.1         $3.7        +36.8%
--------------------------------------------------------------------------
 EPS (Fully Diluted)                    $0.49        $0.37       +32.4%
--------------------------------------------------------------------------

Net sales for the six months ended June 30, 2012 were $296.3 million, an increase of 1.5% compared to the same period a year ago. The Company shipped 538,011 MT of steel in the first half of 2012 compared to 478,167 MT in the first half of 2011.

Gross profit increased 37.4% in the first six months of 2012 to $10.3 million, representing a gross margin of 3.5%.

Operating income was $7.9 million, up 23.4% from $6.4 million in the first half of 2011. Net income from continuing operations was $5.1 million and fully diluted EPS was $0.49 for the first six months of 2012.

Longhai Steel had approximately $18.0 million of cash and cash equivalents at June 30, 2012 compared to $2.8 million at December 31, 2011. Cash flows from operations were $4.6 million for the first six months of 2012 as higher net income was offset by increases in advances to suppliers related to higher sales activity.

The Company had $3.7 million of short-term loans and $9.5 million of banker’s acceptance outstanding at June 30, 2012 compared to $3.6 million and nil, respectively, at December 31, 2011. Total shareholders equity increased to $64.3 million at June 30, 2012 from $57.5 million at December 31, 2011. Longhai Steel raised gross proceeds of $1.2 million through an equity financing in the second quarter of 2012.

Business Updates

Longhai commenced production of high quality steel wire from its second facility in Xingtai, Hebei province, China at the end of the second quarter of 2012. The state-of-the-art facility has a high-speed production line capable of producing a wide variety of conventional and higher value steel wire used in a variety of specialized applications steel wire rope, steel strand, steel belted radial tires, and steel welding rod. Longhai Steel sold all of its initial production to a major distributor in Hebei for domestic and export markets, which significantly reduces transportation costs and inventory risks. The Company also received positive feedback on its new higher value steel wire products and expects to ramp up production of high quality steel wire to full capacity by the end of 2012.

Conference Call

Mr. Steven Ross, Executive Vice President of Longhai Steel will host the conference call. To attend the call, please use the dial in information below:

Date: Thursday, August 16, 2012
Time: 11:30am Eastern Standard Time
Conference Line (U.S.): 1-877-317-6776
International Dial-In: 1-412-317-6776
Conference ID: 10017460
Webcast: http://webcast.mzvaluemonitor.com/Home/Login/394
www.mzvaluemonitor.com

Please dial in at least 10-minutes before the call to ensure timely participation.

A playback of the call will be available until 9:00 am ET on August 30, 2012. To listen, call 1-877-344-7529 within the United States or 1-412-317-0088 when calling internationally. Please use the replay pin number 10017460.

About Longhai Steel Inc.

Longhai Steel Inc. is a leading producer of high-quality steel wire in eastern China, with annual capacity of 1.5 million metric tons. Longhai’s wire is manufactured into screws, nails, and wire mesh used for fencing and to reinforce concrete. Longhai recently expanded its production facility to include specialized applications such as steel wire rope, steel strand, steel belted radial tires, and steel welding rod. Demand is based on spending in the construction, automotive and infrastructure industries in China. Company website: www.longhaisteelinc.com.

Safe harbor statement

Certain statements in this news release are forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “could,” “estimates,” “expect,” “future,” “intends,” “may,” “plans,” “should,” “will,” and similar statements.

The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding China’s economic growth, general industry conditions including local supply and price of wire, environmental risks, Longhai ‘s business or growth strategy, Longhai’s ability to achieve the new facility’s production expectation; Longhai’s ability to develop and produce higher margin products that achieve market acceptance; the success of Longhai ‘s investments, risks, and uncertainties regarding fluctuations in earnings, its ability to sustain its previous levels of profitability including its ability to manage growth, intense competition, wage increases in China, its ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, its ability to successfully complete and integrate potential acquisitions, withdrawal of governmental financial incentives, political instability and regional conflicts, and legal restrictions on raising capital or acquiring companies outside China. Although Longhai believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements. Although these expectations and the factors influencing them will likely change, we are under no obligation to inform you if they do. These and additional risks that could affect Longhai’s future operating and financial results are more fully described in its filings with the U.S. Securities and Exchange Commission. These filings are available at www.sec.gov.

Longhai may, from time to time, make additional written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q, and 8-K, in its annual report to shareholders, in news releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Longhai does not undertake to update any forward-looking statements that may be made from time to time by or on its behalf, except as required by law.

                             LONGHAI STEEL INC.
                         CONSOLIDATED BALANCE SHEETS
                                 (UNAUDITED)

                                           June 30, 2012   December 31, 2011
                                            (Unaudited)
                                         ----------------- -----------------
ASSETS
  Current Assets
    Cash and cash equivalents            $      18,027,281 $       2,765,153
    Accounts receivable                            860,203           905,232
    Inventory                                    5,280,401         3,633,190
    Advance to suppliers                        74,340,164        27,183,336
    Tax receivable                               1,114,941         3,643,142
    Prepaid expenses                               234,150            10,881
    Notes receivable                                     -            15,727
    Other current assets                         4,544,544         2,376,867
    Current deferred tax assets                     72,785            65,964
    Due from related parties                             -        32,844,632
                                         ----------------- -----------------
  Total current assets                         104,474,469        73,444,124

    Property, plant and equipment, net          21,075,655        22,514,658
    Intangible assets, net                          37,004            42,463
    Non-current deferred tax assets                 52,396            53,864
                                         ----------------- -----------------
TOTAL ASSETS                             $     125,639,524 $      96,055,109
                                         ================= =================

LIABILITIES AND STOCKHOLDERS' EQUITY
  Current Liabilities
    Banker's acceptance                  $       9,502,241 $               -
    Accounts payable                             7,290,606         8,093,254
    Advance from customers                      30,549,985        19,269,063
    Income tax payable                           8,384,601         6,467,260
    Accrued liabilities                            552,555           518,295
    Tax payable                                    578,409           594,317
    Loan from third party                        3,651,288         3,625,069
    Due to related party                           785,179                 -
                                         ----------------- -----------------
  Total current liabilities                     61,294,864        38,567,258

                                         ----------------- -----------------
TOTAL LIABILITIES                               61,294,864        38,567,258
                                         ----------------- -----------------

STOCKHOLDERS' EQUITY
    Common Stock, .001 par value,
     100,000,000 shares authorized,
     12,105,421 and 10,050,418 shares
     issued and outstanding,
     respectively                                   12,105            10,050
    Additional paid-in capital                   4,585,007         3,194,658
    Statutory reserve                            1,475,198         1,475,198
    Accumulated other comprehensive
     income                                      4,522,141         4,119,896
    Retained earnings                           53,750,209        48,688,049
                                         ----------------- -----------------
TOTAL STOCKHOLDERS' EQUITY                      64,344,660        57,487,851
                                         ----------------- -----------------

TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY                                  $     125,639,524 $      96,055,109
                                         ================= =================

                             LONGHAI STEEL INC.
       CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
                                 (UNAUDITED)

                     Three Months Ended June 30,  Six Months Ended June 30,
                     --------------------------- ---------------------------
                          2012          2011          2012          2011

Revenue
From unrelated party  $158,908,596  $164,052,372  $293,100,705  $288,518,287
From related party       1,574,887     1,646,404     3,161,914     3,496,351
                     ------------- ------------- ------------- -------------
                       160,483,483   165,698,776   296,262,619   292,014,638

Cost of revenue      (155,720,612) (162,139,025) (285,946,421) (284,508,440)
                     ------------- ------------- ------------- -------------
Gross profit             4,762,871     3,559,751    10,316,198     7,506,198

General and
 administrative
 expenses                (956,224)     (321,022)   (1,508,185)   (1,110,390)
Selling expense          (134,884)             -     (400,988)       (5,599)
Other operation
 expenses                        -             -     (500,337)             -
                     ------------- ------------- ------------- -------------
Income from
 operations              3,671,763     3,238,729     7,906,688     6,390,209

Interest income              2,706         1,705         4,755         3,254
Interest expense         (325,219)     (828,487)     (888,390)   (1,400,867)
Other
 income/(expenses)          35,445       (2,562)        13,983       (9,405)
                     ------------- ------------- ------------- -------------
Total other income
 and expenses            (287,068)     (829,344)     (869,652)   (1,407,018)

Income before income
 taxes                   3,384,695     2,409,385     7,037,036     4,983,191
Income tax expense     (1,028,510)     (622,817)   (1,974,876)   (1,282,954)

Net income              $2,356,185    $1,786,568    $5,062,160    $3,700,237
                     ------------- ------------- ------------- -------------

Earnings per share -
 basic                       $0.22         $0.18         $0.49         $0.37
Earnings per share -
 diluted                     $0.22         $0.18         $0.48         $0.37

Weighted average
 shares outstanding
 - basic                10,641,811    10,000,000    10,346,114    10,000,000
Weighted average
 shares outstanding
 - diluted              10,642,105    10,000,000    10,454,153    10,000,000

Comprehensive Income
Net income              $2,356,185    $1,786,568    $5,062,160    $3,700,237
Other comprehensive
 income                     42,747       779,449       402,245     1,068,105
                     ------------- ------------- ------------- -------------
Comprehensive income    $2,398,932    $2,566,017    $5,464,405    $4,768,342
                     ------------- ------------- ------------- -------------

 The accompanying notes are an integral part of these unaudited consolidated
                             financial statements

                             LONGHAI STEEL INC.
                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                 FOR SIX MONTHS ENDED JUNE 30, 2012 AND 2011
                                 (UNAUDITED)

                                                 Six Months Ended June 30,
                                               ----------------------------
                                                    2012           2011
Cash flows from operating activities:
Net income                                     $   5,062,160  $   3,700,237
Adjustments to reconcile net income to cash
 provided by (used in) operating activities:
Depreciation                                       1,644,966      1,575,802
Deferred tax assets / liabilities                     (4,514)          (938)
Amortization of intangible assets                      2,056              -
Share-based payment expenses                         192,676        145,322
Changes in operating assets and liabilities:
Accounts receivable                                   51,366        917,067
Notes receivable                                      15,837    (11,464,716)
Inventory                                        (1,647,090)      1,007,228
Advance to suppliers                             (46,966,545)      (512,718)
Prepaid expenses and other current assets         (2,374,232)     4,191,304
Tax receivable                                     2,533,635     (3,462,424)
Due to / from related parties                     33,859,723        595,657
Accounts payable                                    (859,301)     9,591,099
Accrued liabilities                                  100,949        130,061
Advance from customers                            11,146,039      3,972,365
Income tax payable                                 1,872,070     (1,057,433)
                                               -------------  -------------
CASH PROVIDED BY OPERATING ACTIVITIES              4,629,523      9,327,913

Cash flows from investing activities:
Cash paid for fixed assets purchased by
 related party                                       (70,319)      (611,090)
Cash lending to related parties                            -     (3,817,500)
Purchase of property and equipment                   (19,299)       (81,181)
                                               -------------  -------------
CASH USED IN INVESTING ACTIVITIES                    (89,618)    (4,509,771)

Cash flows from financing activities:
Cash advance from related parties                          -     10,840,420
Cash repayment to related parties                          -    (13,074,044)
Proceeds from common stock issued in private
 placement                                         1,200,000              -
Borrowing from bank                                9,502,241              -
Banker's acceptance                                4,702,966              -
Repayment to bank                                 (4,702,966)             -
                                               -------------  -------------
CASH PROVIDED BY (USED IN) FINANCING
 ACTIVITIES                                       10,702,241     (2,233,624)
Effect of exchange rate changes on cash               19,982         44,760
                                               -------------  -------------
Net increase in cash and cash equivalents         15,262,128      2,629,278
                                               -------------  -------------

Cash and cash equivalents, beginning balance       2,765,153        293,445
                                               -------------  -------------
Cash and cash equivalents, ending balance      $  18,027,281  $   2,922,723
                                               -------------  -------------

SUPPLEMENTARY DISCLOSURE:
Interest paid                                  $     820,606  $   1,397,670
                                               -------------  -------------
Income tax paid                                $     107,113  $   2,341,285
                                               -------------  -------------

Contacts:

Longhai Steel Inc.
Steven Ross (English)
Phone: 949-720-1265
Email: sross@longhaisteelinc.com

Cindy Han
(English and Chinese)
Phone: 86-139-3099-8773
Email: dhan2625@163.com

MZ Group — North America
Derek Gradwell
SVP, Natural Resources
Phone: 949-259-4995
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us

MZ Group — North America
Scott Powell
Senior Vice President
Tel: +1-212-301-7130
Email: scott.powell@mzgroup.us

GlobalWise (GWIV) Reports Second Quarter 2012 Financial Results

COLUMBUS, OH — (Marketwire) — 08/14/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) and its wholly owned subsidiary Intellinetics, Inc., an enterprise content management (“ECM”) software development, sales and marketing company serving both public and private sector clients, today announce financial results for the second quarter ended June 30, 2012.

Financial Highlights for the Second Quarter 2012:

• Total revenue increased by 146% to $887,285 compared to $360,328 in the first quarter, and an increase of 52% compared to $582,051 in the year-ago second quarter;
• Gross profit improved to $597,123, a 959% increase over the first quarter of $56,381, and a 64% increase compared to $364,661 in the year-ago second quarter;
• Gross profit margin increased to 67% compared to 16% in the first quarter and 63% in the year-ago second quarter;
• Total operating expenses decreased by 69% to $680,062 compared to $1,148,905 in the first quarter; up from $421,636 in the year-ago second quarter;
• Loss from operations decreased by 1,217% to ($82,939) compared to ($1,092,524) in the first quarter; up from ($56,975) in the year-ago second quarter;
• Net loss decreased by 639% to ($155,250) compared to ($1,147,873) in the first quarter; up from ($93,039) in the year-ago second quarter.

The Company’s operating expenses in the second quarter reflect additional costs associated with being a public company and strategic investments in human talent, technology and process assets that we believe help establish a solid foundation for profitable geometric growth in its subscriber base and revenue. Combined, these investments drive cost and cycle time out of the marketing, sales and order fulfillment processes. As a result, GlobalWise is better positioned to be able to harvest demand from captive markets with little additional operating cost and expects expenses to remain relatively stable at current levels as revenue continues to increase.

“GlobalWise’s dynamic approach to the ECM software market is taking hold in 2012,” stated William J. “BJ” Santiago, CEO of GlobalWise. “Two important changes have occurred in the past 18 months that are becoming the catalysts for our extraordinary growth. First, the advancement of our ECM software to a cloud-delivery model reduces our cost of service delivery and time to installation. Second, moving from a domestic direct-sales model to an international Channel Partner strategy has dramatically increased our ability to sell our software to a greater number of clients in a lower-cost manner. Our second-quarter revenue growth of 146% vs. the prior quarter and 52% growth year-over-year is a direct, tangible result of these developments. Simply put, we’re now selling more software faster and have reduced our average sales cycle from a historic 18 – 24 months to 3 – 6 months.”

Since the beginning of 2012, the Company has signed eight new Channel Partners with several potential new partners pending. In 2011, 14 new Channel Partners were signed. The increase in sales capacity is driving significant and consistent revenue growth, and the trend is expected to continue throughout 2012 and beyond.

Fiscal Year 2012 Guidance:

Based upon the Company’s current sales funnel and recent Channel Partner activity, GlobalWise currently expects to exceed $3.3 million in annual revenue in 2012 vs. $1.7 million in 2011. Management anticipates exiting 2012 at an annualized revenue run rate for 2013 in excess of $5.0 million, as existing Channel Partners increase their sales and marketing efforts and new Channel Partners are added. GlobalWise expects to be increasingly well positioned for growth and profitability in future periods as projected revenues increase, operating expenses continue to decline as a percentage of revenue, and the cost of continuing as a public company normalizes.

“Our sales funnel is growing steadily with qualified clients through our Channel Partner eco-system,” added Mr. Santiago. “The Channel Partners need a cloud-based ECM solution to complement their product strategy and increase the number of value added services provided to clients. We strategically choose partners who sell enterprise software, consulting services or office equipment focused around document management. We can quickly train them on our template based ECM software and/or how to integrate the software into their existing business application software or hardware products. This new sales strategy allows us to focus on what we do best – software engineering, support and cloud services delivery – and allows our partners to do what they do best – demand generation for industry leading business software solutions.”

About GlobalWise Investments, Inc.

GlobalWise Investments, Inc., via its wholly owned subsidiary Intellinetics, Inc., is a Columbus, Ohio based Enterprise Content Management (ECM) pioneer with industry-leading software that delivers cloud ECM based solutions on-demand. The Company’s flagship platform, Intellivue™, represents a new industry benchmark and game-changing solution by enabling clients to access and manage the content of every scanned document, file, spreadsheet, email, photo, audio file or video tape – virtually anything that can be digitized – in their enterprise from any PC, laptop, tablet or smartphone from anywhere in the world.

For additional information, please visit the Company’s corporate website: www.GlobalWiseInvestments.com

This press release may contain “forward-looking statements.” Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.

Financial Tables Follow

                GLOBALWISE INVESTMENTS, INC. and SUBSIDIARY
              Condensed Consolidated Statements of Operations
                                (Unaudited)

                           For the Three Months       For the Six Months
                              Ended June 30,            Ended June 30,
                         ------------------------  ------------------------
                             2012         2011         2012         2011
                         -----------  -----------  -----------  -----------

Revenues:
  Sale of software
   licenses without
   modification          $    34,939  $    19,925  $    56,678  $    36,800
  Sale of software
   licenses with
   substantive
   modification              393,403      227,979      413,395      242,764
  Software as a service       24,596       37,910       53,637       69,327
  Software maintenance
   services                  195,857      160,209      373,308      314,242
  Consulting services        238,490      136,028      350,595      158,044
                         -----------  -----------  -----------  -----------

    Total revenues           887,285      582,051    1,247,613      821,177
                         -----------  -----------  -----------  -----------

Cost of revenues:
  Sale of software
   licenses without
   modification               14,627        5,084       31,832        9,451
  Sale of software
   licenses with
   substantive
   modification              109,229      121,052      262,855      229,490
  Software as a service        7,364        6,930       13,894       13,516
  Software maintenance
   services                   36,404       29,449       61,284       52,172
  Consulting services        122,538       54,875      224,244      116,904
                         -----------  -----------  -----------  -----------

    Total cost of
     revenues                290,162      217,390      594,109      421,533
                         -----------  -----------  -----------  -----------

Gross profit                 597,123      364,661      653,504      399,644
                         -----------  -----------  -----------  -----------

Operating expenses:
  General and
   administrative            348,976      278,773    1,169,198      501,631
  Sales and marketing        323,439      132,524      645,333      266,925
  Depreciation                 7,647       10,339       14,437       21,133
                         -----------  -----------  -----------  -----------

    Total operating
     expenses                680,062      421,636    1,828,968      789,689
                         -----------  -----------  -----------  -----------

Loss from operations         (82,939)     (56,975)  (1,175,464)    (390,045)

Interest expense, net        (72,311)     (36,064)    (127,659)     (74,099)
                         -----------  -----------  -----------  -----------

Net loss                 $  (155,250) $   (93,039) $(1,303,123) $  (464,144)
                         ===========  ===========  ===========  ===========

Basic and deiluted net
 loss per share:         $         -  $         -  $     (0.04) $     (0.02)

Weighted average number
 of common shares
 outstanding - basic and
 diluted                  32,590,850   22,757,100   31,589,531   22,757,100
                         ===========  ===========  ===========  ===========

                        GLOBALWISE INVESTMENTS, INC.
                   Condensed Consolidated Balance Sheets

                                   ASSETS
                                                 Unaudited
                                                  June 30,     December 31,
                                               -------------  -------------
                                                    2012           2011
                                               -------------  -------------

Current assets:
  Cash                                         $      17,366  $     140,271
  Accounts receivable, net                           400,168        335,453
  Prepaid expenses and other current assets           44,835         18,398
                                               -------------  -------------

    Total current assets                             462,369        494,122

Property and equipment, net                           72,112         32,771
Other assets                                          41,400         46,404
                                               -------------  -------------

    Total assets                               $     575,881  $     573,297
                                               =============  =============

                   LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities:
  Accounts payable and accrued expenses        $     999,909  $     389,080
  Accrued expenses, related parties                   17,494              -
  Deferred revenues                                  745,975        964,043
  Notes payable - current                          1,417,203        747,778
  Notes payable - related party - current            300,000              -
                                               -------------  -------------
    Total current liabilities                      3,480,581      2,100,901

Long-term liabilities:
  Deferred compensation                              234,107        215,011
  Notes payable - net of current portion           1,385,029      1,528,915
  Notes payable - related party                      276,707        262,707
  Deferred interest expense                           34,564         17,063
  Other long-term liabilities - related
   parties                                           171,575        157,859
                                               -------------  -------------

    Total long-term liabilities                    2,101,982      2,181,555
                                               -------------  -------------

    Total liabilities other than shares            5,582,563      4,282,456
Shares subject to mandatory redemption                              111,235
                                               -------------  -------------

    Total liabilities                              5,582,563      4,393,691

Commitments and contingencies
Excess of liabilities over assets (deficit)                -     (3,820,394)
                                               -------------  -------------
    Total liabilities and excess of
     liabilities over assets (deficit)             5,582,563        573,297
                                               -------------  -------------
Stockholders' deficit:
  Common stock, $0.001 par value, 50,000,000
   shares authorized; 32,590,850 shares issued
   and outstanding at March 31, 2012                  32,591              -
  Additional paid-in capital (deficit)               (52,975)             -
  Accumulated deficit                             (4,986,298)             -
                                               -------------  -------------
    Total stockholders' deficit                   (5,006,682)             -
                                               -------------  -------------
    Total liabilities and excess of
     liabilities over assets (deficit) and
     stockholders' deficit                     $     575,881  $     573,297
                                               =============  =============

GlobalWise Investments, Inc.
Columbus, Ohio
www.GlobalWiseInvestments.com
614-388-8909
Contact@GlobalWiseInvestments.com

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975

TransAtlantic Petroleum (TAT) Announces Second Quarter 2012 Financial Results

HAMILTON, Bermuda, Aug. 14, 2012 (GLOBE NEWSWIRE) — TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE Amex:TAT) (the “Company” or “TransAtlantic”) announces financial results for the quarter ended June 30, 2012.

Selected Highlights

• Adjusted EBITDAX from continuing operations for the second quarter of 2012 totaled $21.2 million (Adjusted EBITDAX is a non-GAAP financial measure that is defined and reconciled to net income later in this press release);
• Second quarter of 2012 results were impacted by $15.1 million of unrealized mark-to-market derivative gains, $1.3 million of foreign exchange losses, a $2.0 million non-cash expense related to a contingent liability on a property in Bulgaria, a $1.2 million non-cash expense related to inventory count adjustments, $15.1 million net income from discontinued operations, and other items totaling $0.2 million of expense reductions.
• Net debt (outstanding borrowings less cash and cash equivalents) reduced to $4.9 million at June 30, 2012, allowing a change to the going concern assumption in TransAtlantic’s Quarterly Report on Form 10-Q.

Second Quarter 2012 Results

For the three months ended June 30, 2012, total net sales increased to approximately 413 thousand barrels of oil equivalent (“Mboe”), compared to net sales of approximately 362 Mboe for the same period last year and approximately 452 Mboe in the first quarter of 2012. During the three months ended June 30, 2012, the Company sold an average of 4,544 boe per day. Total net sales were comprised of approximately 233 thousand net barrels (“Mbbls”) of oil at an average rate of approximately 2,564 net bbls per day and approximately 1,081 net million cubic feet (“MMcf”) of natural gas at an average rate of approximately 11.9 net MMcf per day.

For the quarter ended June 30, 2012, the Company’s average realized price (unhedged) was $97.45 per bbl of oil and $8.48 per thousand cubic feet (“Mcf”) of natural gas, compared to an average realized price of $109.28 per bbl and $7.34 per Mcf in the quarter ended June 30, 2011 and $108.38 per bbl and $7.60 per Mcf in the quarter ended March 31, 2012.

Total revenues increased to $32.5 million for the three months ended June 30, 2012 compared to $31.6 million realized in the same period in 2011 and $34.9 million for the three months ended March 31, 2012. Net income from continuing operations for the three months ended June 30, 2012 was $7.9 million, or $0.02 per share (basic and diluted), compared to a net loss of $1.9 million, or $0.01 per share (basic and diluted), for the three months ended June 30, 2011 and $2.6 million, or $0.01 per share (basic and diluted) for the three months ended March 31, 2012. Reported net income for the second quarter of 2012 included $15.1 million of unrealized mark-to-market derivative gains, $1.3 million of foreign exchange losses, a $2.0 million non-cash expense related to a contingent liability on a property in Bulgaria, a $1.2 million non-cash expense related to inventory count adjustments, $15.1 million net income from discontinued operations, and other items totaling $0.2 million of expense reductions.

Adjusted EBITDAX from continuing operations for the three months ended June 30, 2012 was $21.2 million compared to $17.7 million for the three months ended June 30, 2011 and $22.4 million for the quarter ended March 31, 2012.

Change of Going Concern Assumption

TransAtlantic’s financial statements have included a “going concern” assumption since the Company’s Annual Report on Form 10-K, filed on April 21, 2011. Following the close of the sale of TransAtlantic’s oilfield services business on June 13, 2012, the Company used a portion of the net cash proceeds of $155.7 million to pay off its $73.0 million credit agreement with Dalea, its $11.0 million credit facility with Dalea, its $0.9 million promissory note with Viking Drilling, LLC, and its $1.8 million credit agreement with a Turkish bank. Subsequently, TransAtlantic used $45.2 million of the proceeds to reduce borrowings under its senior secured credit agreement (“credit facility”) with Standard Bank Plc and BNP Paribas (Suisse) SA.

As of June 30, 2012 the Company had outstanding borrowings on the credit facility of $32.8 million, cash and cash equivalents of approximately $27.9 million, and $44.7 million of availability under its credit facility. As a result, management believes that the conditions that led to the substantial doubt about our ability to continue as a going concern at December 31, 2011 no longer exist at June 30, 2012.

Adjusted EBITDAX is a non-GAAP financial measure that represents earnings from continuing operations before income taxes, interest, depreciation, depletion, amortization, impairment, abandonment, and exploration expenses, unrealized derivative losses and non-cash share-based compensation expense.

The Company believes Adjusted EBITDAX assists management and investors in comparing the Company’s performance and ability to fund capital expenditures and working capital requirements on a consistent basis without regard to depreciation, depletion and amortization, impairment of natural gas and oil properties and exploration expenses, which can vary significantly from period to period. In addition, management uses Adjusted EBITDAX as a financial measure to evaluate the Company’s operating performance. Adjusted EBITDAX is also widely used by investors and rating agencies.

Adjusted EBITDAX is not a measure of financial performance under GAAP. Accordingly, it should not be considered as a substitute for net income, income from operations, or cash flow provided by operating activities prepared in accordance with GAAP. Information regarding income taxes, interest, depreciation, depletion, amortization, impairment, abandonment, and exploration expense is unavailable on a forward looking basis. Net income, income from operations, or cash flow provided by operating activities may vary materially from Adjusted EBITDAX. Investors should carefully consider the specific items included in the computation of Adjusted EBITDAX. The Company has disclosed Adjusted EBITDAX to permit a comparative analysis of its operating performance and debt servicing ability relative to other companies.

About TransAtlantic

TransAtlantic Petroleum Ltd. is an international energy company engaged in the acquisition, development, exploration and production of oil and natural gas. The Company holds interests in developed and undeveloped oil and natural gas properties in Turkey, Bulgaria and Romania.

The TransAtlantic Petroleum Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12745

(NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)

Forward-Looking Statements

This news release contains statements expectations, plans, goals, objectives, assumptions or information about future events, conditions, results of operations or performance that may constitute forward-looking statements or information under applicable securities legislation. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. In addition to other assumptions identified in this news release, assumptions have been made regarding, among other things, the ability of the Company to continue to develop and exploit attractive foreign initiatives.

Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by the Company and described in the forward-looking statements or information. These risks and uncertainties include but are not limited to market prices for natural gas, natural gas liquids and oil products; estimates of reserves and economic assumptions; the ability to produce and transport natural gas, natural gas liquids and oil; the results of exploration and development drilling and related activities; economic conditions in the countries and provinces in which we carry on business, especially economic slowdowns; actions by governmental authorities, receipt of required approvals, increases in taxes, legislative and regulatory initiatives relating to fracture stimulation activities, changes in environmental and other regulations, and renegotiations of contracts; political uncertainty, including actions by insurgent groups or other conflict; the negotiation and closing of material contracts; shortages of drilling rigs, equipment or oilfield services.

The forward-looking statements or information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Note on boe

Barrels of oil equivalent, or boe, is derived by the Company by converting natural gas to oil in the ratio of six thousand cubic feet (“Mcf”) of natural gas to one bbl of oil. A boe conversion ratio of 6 Mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Boe may be misleading, particularly if used in isolation.

CONTACT: Chad Potter, VP, Financial and Investor Relations
         Phone: (214) 220-4323
         Internet: http://www.transatlanticpetroleum.com
         Address: 16803 Dallas Parkway
                  Suite 200
                  Addison, Texas 75001

Partner Communications (PTNR) Reports Second Quarter 2012 Results

Partner Communications Company Ltd. (“Partner” or “the Company”) (Nasdaq:PTNR)(TASE:PTNR), a leading Israeli communications operator, announced today its results for the quarter ending June 30, 2012.

Q2 2012 Highlights (compared with Q2 2011)

• Total Revenues: NIS 1,428 million (US$ 364 million), a decrease of 24%
• Service Revenues: NIS 1,213 million (US$ 309 million), a decrease of 11%
• Equipment Revenues: NIS 215 million (US$ 55 million), a decrease of 59%
• OPEX¹: NIS 853 million ($217 million), a decrease of 7%
• EBITDA²: NIS 423 million (US$ 108 million), a decrease of 28%
• EBITDA Margin: 30% of total revenues compared with 31%
• Operating Profit: NIS 245 million (US$ 62 million), a decrease of 35%
• Net Profit: NIS 120 million (US$ 31 million), a decrease of 41%
• Capital Expenditures: NIS 113 million (US$ 29 million), an increase of 51%
• Free Cash Flow before interest payments³: NIS 313 million (US$ 80 million), an increase of 98%
• Net Debt: NIS 4.2 billion (US$ 1.1 billion), a decrease of NIS 0.7 billion
• Cellular Subscriber Base: 3.10 million at quarter-end
• Cellular ARPU: NIS 101 (US$ 26), a decrease of 10%

Mr. Haim Romano, Partner’s CEO, said:

“The Company’s financial and operational results of the second quarter reflect the Company’s operations in one of the most volatile periods of the Israeli cellular market. The Multiplicity of mobile operators that are operating in the market today created a new reality that requires the Company to make changes and adjustments both to its marketing and business operations and to its cost structure.

Partner, that has set innovative standards for quality customer service and has been a leader in this field, believes that customer service is still one of the cornerstones of the Company. The simplifying of processes, excellence in customer service, offering innovative products and services and advanced technology, all these enrich and enhance the customer experience and strengthen loyalty.

In accordance with this strategy, we are focusing on strengthening the relationship with our customers, creating maximum availability and providing customized solutions for all customer interface channels, physical and digital. The Company adheres to its “Clear” policy that does not discriminate between existing and new customers and reflects the Company’s consumer vision: simplicity, fairness and clarity at all interfaces with the customer. The ARPU for the current quarter is a result of this policy.

In addition, Partner launched the 012 Mobile brand which is based on a self-service model through the internet intended for customers who want pure cellular network services, at a particularly attractive price and who are interested in a young and fresh brand, yet familiar and part of a leading communications group. The brand was launched at the end of the reported quarter and therefore its impact is not reflected in the quarterly results.

With respect to technological progress and leadership, the Company continues with the optimization and enhancement of the network for high speeds and the preparation for fourth generation in large areas around the country and in many areas significant technological leadership is already visible with respect to the browsing experience and speed and the quality of the calls.

With respect to the investment in advanced technology and information systems, Mr. Haim Romano added that “The Board of Directors approved the management recommendation to invest approximately NIS 60 million over the next two years in upgrading the IT systems and positioning them as one of the world’s advanced information systems that will provide an innovative, simple and fast interface experience that will enhance the customer experience.”

Mr. Haim Romano also noted that “The Company is vigorously operating to accelerate television services over the internet (OTT). Once the conditions are ripe, Partner will offer an innovative, quality and attractive solution also in this area, including the option of investing in original productions.”

“The operational efficiency measures taken by the Company continue while in the past nine months, the operating expenses were decreased by approximately NIS 100 million. As part of this comprehensive process, the Company continues to adjust its workforce level mainly through an orderly process of reducing recruitment and eliminating unstaffed positions. The number of positions was reduced from October 2011 until the end of July 2012 by approximately 2,100 positions. At the same time, we continue to work towards completing the operational merger with 012 Smile which is expected to be completed in the third quarter of this year.”

In conclusion, Mr. Haim Romano noted: “The financial robustness of the Company and its significant strengths in addition to the consistent investment in the Company’s assets provide a platform to successfully contend with current and future challenges.”

Mr. Ziv Leitman, Partner’s Chief Financial Officer commented:

“In view of the significant changes in the telecommunications market over the past year, my remarks will be confined to comparing the results of the second quarter with those of the first quarter of 2012.

The financial results of the second quarter compared to the previous quarter reflect on the one hand the impact of the intensifying competition, and on the other hand, the impact of measures implemented by the Company.

This quarter, revenues declined and particularly equipment revenues, mainly due to a sharp decrease in the quantity of cellular equipment sold, from NIS 330 million in the first quarter of 2012 to NIS 215 million this quarter. The main factors that led to the decrease included increased competition in handset sales, increasingly stringent customer payment terms, a general decrease in market demand, and the termination of granting special benefits for customers who purchase new handsets.

This decrease in sales of equipment had a positive impact on the Company’s free cash flow, and indeed the free cash flow (after interest payments) was relatively strong this quarter, totaling NIS 270 million, of which around a third can be attributed to the decrease in working capital. As long as these trends of low levels of equipment sales together with high proportions of equipment sales by credit card and cash continue in the coming quarters, working capital will continue to decrease and free cash flow will respectively continue to be affected positively.

In parallel, the Company continues with its efficiency measures, through strict control of the cost structure. The Company’s operating expenses (excluding equipment, depreciation and amortization) decreased in this quarter by approximately NIS 19 million. The transmission services agreement with Bezeq (that was reported by the Company in April 2012) contributed approximately NIS 10 million to the reduction in expenses, which was offset by one-time expenses in a similar amount related to the reduction in the workforce. The Company continues to adjust the cost structure to one appropriate to the level of revenues through reductions in operating expenses.

EBITDA for this quarter decreased by NIS 15 million, to a total of NIS 423 million, EBITDA was mainly affected by the decrease in profit from equipment sales and by the decrease in cellular and fixed line service revenues, partially offset by cutbacks in expenses.

Due to the change in the inter-segment charging following an adjustment made to transmission service prices to reflect market prices (as a result of the new agreement with Bezeq), EBITDA for the fixed line segment was reduced in the quarter by approximately NIS 8 million, with EBITDA for the cellular segment increasing by the same amount.

This quarter, MOU increased by approximately 3%, together with an increase in the proportion of subscribers subscribed to bundled packages which include airtime, SMS and data services for a fixed fee. The proportion of revenues from such bundled packages reached this quarter over 50% of total revenues arising from outgoing airtime, data and content services.

Financial expenses for the quarter increased by approximately NIS 18 million compared with the previous quarter, due to the impact of the increase in the CPI index level of 1.2% this quarter compared with no change in the previous quarter. The impact of the increase in CPI was partially offset with gains from exchange rate movements and other items.

Investments in fixed assets in the first half of this year totaled NIS 246 million. The Company continues to make investments in infrastructure, network and information systems and intends to invest at a higher rate in the second half of the year than in the first half.

The Parliamentary Finance Committee approved the amendment to the royalty regulations (cellular, fixed line and ILD). Following the amendment, the rates of the royalties paid to the State by the Partner Group shall be reduced in 2012 and shall be abolished as of 2013 onwards. As a result, there will be a significant reduction in the royalty expenses in the second half of 2012, and in 2013 the Company’s obligation to pay royalties will be abolished completely. Average quarterly royalty expenses for the third and fourth quarters of 2012 are expected to be lower than those for the second quarter of 2012 by approximately NIS 12 million.

The Company’s net debt at the end of the quarter totaled NIS 4.2 billion, reflecting a decrease of approximately NIS 0.7 billion over the last 12 months. In view of the relatively high cash balance, the Company decided to take a number of measures to reduce the level of debt and financing costs:

• In July 2012, the Company completed the early repayment of bank loans in the amount of NIS 80 million, of which NIS 30 million was due to be repaid in December 2012, NIS 25 million which was due to be repaid in June 2013 and NIS 25 million which was due to be repaid in December 2013;
• Also in July 2012, the Company significantly reduced the unused credit facility with a leading commercial bank, partially used for short term financing, from an amount of NIS 780 million to an amount of NIS 60 million;
• On August 13, 2012, the Company adopted a buy-back plan of its Series B, C, D and E Notes in the total amount of up to NIS 200 million (approximately US$ 51 million) in transactions on the TASE or outside TASE, until August 12, 2013.

The Board of Directors approved a dividend distribution for the first half of 2012 in the amount of NIS 1.03 (US 26 cents) per share or ADS, totaling approximately NIS 160 million (US$ 41 million), the equivalent of 60% of the Company’s net profit for the first half of 2012.”

Key Financial and Operating Indicators⁴

Partner Consolidated Results

Financial Review

Total revenues in Q2 2012 were NIS 1,428 million (US$ 364 million), a decrease of 24% from NIS 1,887 million in Q2 2011.

Service revenues totaled NIS 1,213 million (US$ 309 million) in Q2 2012, decreasing by 11% compared with NIS 1,360 million in Q2 2011.

Service revenues for the cellular segment were NIS 949 million (US$ 242 million) in Q2 2012, decreasing by 12% from NIS 1,074 million in Q2 2011. The decrease largely reflected the continuing price erosion of cellular services including voice and data services, following the entry of new competitors in recent months, as well as a decrease in revenues from roaming services. Service revenues for the fixed line segment totaled NIS 300 million (US$ 76 million) in Q2 2012, a decrease of 8% from NIS 325 million in Q2 2011. The decrease in service revenues for the fixed line segment reflected the decrease in the average subscriber base in the fixed line market over the period, as well as price erosion in fixed line services.

Equipment revenues in Q2 2012 were NIS 215 million (US$ 55 million), a decrease of 59% compared with NIS 527 million in Q2 2011. The decrease largely reflected the significant reduction in the quantity of cellular equipment sold in Q2 2012 compared with Q2 2011. The main factors that led to the reduction included strengthened competition for handset sales, increasingly stringent payment terms, a general decrease in market demand reflecting the high proportion of smartphones sold last year, and an end to the use of special discounts for customers with new handsets.

Gross profit totaled NIS 428 million (US$ 109 million) in Q2 2012, decreasing by 27% compared to NIS 586 million in Q2 2011, principally reflecting the decrease in gross profit from cellular services and cellular equipment sales.

Other income, net, totaled NIS 30 million (US$ 8 million) in Q2 2012, compared with NIS 26 million in Q2 2011, reflecting an increase in recognized deferred revenue from handset payment installment plans from sales over the previous 12 months.

In Q2 2012, operating profit was NIS 245 million (US$ 62 million), compared to NIS 377 million in Q2 2011, a decrease of 35%. For the cellular segment, operating profit decreased by 33%. For the fixed line segment, operating profit decreased by 53%, reflecting the reduction in fixed line segment revenues as discussed above.

EBITDA in Q2 2012 totaled NIS 423 million (US$ 108 million), a decrease of 28% from NIS 586 million in Q2 2011. EBITDA for the cellular segment was NIS 367 million (US$ 94 million) in Q2 2012, decreasing by 27% from NIS 502 million in Q2 2011. EBITDA for the fixed line segment was NIS 56 million (US$ 14 million) in Q2 2012, decreasing by 33% compared with Q2 2011.

Financial expenses, net in Q2 2012 were NIS 73 million (US$ 19 million), a decrease of 26% compared with NIS 99 million in Q2 2011. The decrease mainly reflected the lower debt level (see Funding and Investing Review below), together with a decrease in the average cost of debt.

Net profit was NIS 120 million (US$ 31 million) in Q2 2012, a decrease of 41% from NIS 205 million in Q2 2011. Based on the weighted average number of shares outstanding during Q2 2012, basic (reported) earnings per share or ADS, was NIS 0.77 (US$ 0.21), a decrease of 42% compared to NIS 1.32 in Q2 2011.

Funding and Investing Review

In Q2 2012, cash flows generated from operating activities before interest payments, net of cash flows used for investing activities (“Free Cash Flow“) totaled NIS 313 million (US$ 80 million), an increase of 98% from NIS 158 million in Q2 2011.

Cash generated from operations increased by 69% from NIS 247 million in Q2 2011 to NIS 417 million (US$ 106 million) in Q2 2012. The increase was mainly explained by the changing movements in operating working capital, which increased by NIS 320 million in Q2 2011 reflecting the impact of the high level of handset sales in Q2 2011, but which decreased by NIS 79 million in Q2 2012, reflecting the impact of the low level of handset sales in Q2 2012.

The level of investment in fixed assets in Q2 2012 including intangible assets but excluding capitalized subscriber acquisition and retention costs, net, was NIS 113 million (US$ 29 million), increasing by 51% from NIS 75 million in Q2 2011. The Company continues to make investments in infrastructure, network and information systems and intends to invest in the second half of the year at a higher rate than in the first half of the year.

The level of net debt⁶ at the end of Q2 2012 was NIS 4.21 billion, compared with NIS 4.64 billion at the end of 2011, a decrease of NIS 0.4 billion in the first half of the year.

Series B, C, D and E Notes Buy-Back Plan

The Company’s Board of Directors resolved to approve a debt buy-back plan, according to which the Company may, from time to time, repurchase its Series B, C, D and E Notes, which are traded on the Tel Aviv Stock Exchange (“TASE”) (the “Series Notes” and the “Plan”, respectively).

Under the Plan, the Company is authorized to repurchase Series Notes up to an aggregate amount of NIS 200 million (approximately US$ 51 million) in open-market transactions on the TASE or outside TASE, until August 12, 2013.

The Board of Directors’ resolution is not a commitment to purchase any Series Notes. If any Series Notes are repurchased, the price, timing and amounts of such repurchases will be determined based on market conditions and other factors. The Company may suspend or discontinue the Plan at any time. Repurchases of Series Notes may be carried out by the Company or any of its subsidiaries.

Dividend

The Board of Directors approved the distribution of a cash dividend (paid in NIS) for the first half of 2012 of NIS 1.03 (26 US cents) per share or ADS (in a total of approximately NIS 160 million or US$ 41 million) to shareholders and ADS holders of record on August 29, 2012. The dividend is expected to be paid on September 11, 2012

Business and Regulatory Developments

1. Increasing Competition in the Cellular Market

During May 2012, two new cellular operators, Hot Mobile (Mirs Communications Ltd.) and Golan Telecom Ltd. (“the New Operators”) began operations. The entrance into the telecommunications market of the New Operators has increased the competition in the cellular market. The New Operators offer customers cellular communication unlimited plans which include unlimited calls and messages at lower prices than those that were offered in the market until that time. Subsequently, the existing cellular companies including Partner, and the mobile virtual operators, also launched unlimited packages. As part of its competitive strategy, the Company has launched, under the 012 Mobile brand, a self-service cellular service mainly through the website.

Following the increased competition and in light of the entrance of the New Operators into the already saturated market, the Company’s market share has declined and the churn rate has increased. The level of ARPU and churn rate in the second quarter of 2012 do not reflect the full impact of the increased competition. The Company continues to assess market developments and believe in its ability to cope with the changes in the competitive environment.

For further information regarding the competition and its possible effects on the Company, see the Company’s 2011 Annual Report (20-F/A) filed with the SEC on March 26, 2012 (“2011 Annual Report”) “Item 3D.1 RISKS RELATING TO THE REGULATION OF OUR INDUSTRY – we operate in a highly regulated telecommunications market which limits our flexibility in managing our business and may materially and adversely affect our business and results of operations” and “3D.2 RISKS RELATING TO OUR BUSINESS OPERATIONS – competition resulting from consolidation in the telecommunications industry, the expanded offering of full service telecommunications group, and new entrants into the mobile telecommunications market, despite its current saturation, as well as other actual and potential changes in the competitive environment and communications technologies, may cause an increase in subscriber acquisition and retention costs and a decrease in tariffs, and may reduce our subscriber base and increase our churn rate, each of which could adversely affect our business and results of operations.”

2. Ministry of Communications Hearings

a. On June 26, 2012, the Ministry of Communications published a hearing in which it proposes to abolish the payment that internet service providers (“ISPs”) are currently required to pay to broadband internet access infrastructure providers – the fixed line operators (currently Bezeq and HOT) for the transfer of the traffic between end users and the ISPs. In accordance with the Ministry’s proposal, the payment for the broadband internet access infrastructure service shall be paid only by the end users.

b. On July 2, 2012, the Ministry of Communications published a hearing with respect to “calling cards for cellular and international pre-paid calls” that is intended to constitute an interim arrangement in order to prevent significant damage to the ability of the independent international operators (corporations that are not affiliated with cellular or fixed line operators) to compete in the international call market through pre-paid calling cards, in light of the changes in the market. Until a new and permanent arrangement is achieved, the Ministry is considering to determine the following:

i. The manner in which the price will be displayed by the international operator to its customers that call by using pre-paid calling cards of cellular operators shall be split and will detail the payment for the international call and the payment for the interconnect component that is passed onto the cellular operator.

ii. The calling cards that will be marketed by the cellular operators shall be marketed in an equal manner towards all of the international operators and all of the calling cards that will be marketed by the international operators shall be marketed in an equal manner towards all of the cellular operators – at a unified and non-discriminatory price in accordance with the type of subscriber or service.

iii. The cellular operator shall not charge the international operator any distribution, billing or collection commissions.

3. Amendment to the Communications Law regarding financial sanctions

On August 5, 2012, an amendment to the Communications Law was published with respect to the imposition of gradual financial sanctions on various licensees in the telecommunications market according to which breach of the license provisions, even if it affects a lone customer, allows the Ministry of Communications to impose financial sanctions on the licensees that are based on a certain percentage of the annual income of the violator and the degree of severity of the violation, which materially increases the extent of monitoring and enforcement measures of the Ministry of Communications towards the telecommunication companies.

4. Amendment to the Consumer Protection Law

On July 25, 2012, the Parliamentary Economics Committee approved an amendment to the Consumer Protection Law according to which, as of January 1, 2013, if a supplier overcharges a consumer in a continuous transaction in which the supplier lawfully charges the consumer’s bank account or credit card in installments, the supplier will refund the consumer the overcharged amount within four business days together with interest as well as an additional payment for the consumer’s expenses in the amount of NIS 16. In addition, the amendment determined that if the supplier overcharged and did not refund the consumer, the court may award compensation without proof of damages in an amount that does not exceed NIS 10,000.

5. Facilitation of the import of cellular handsets

On August 2, 2012, the Parliamentary Economics Committee approved a reform with respect to the import of cellular handsets that includes two facilitations that are intended to remove import barriers: the exemption from the receipt of a commercial license and the exemption from the receipt of a type approval in the import of new cellular handsets that meet acceptable European and American standards. The reform will be effective 30 days from the date of publication in the official gazette.

6. Possible amendments with respect to the erection of cell sites

On July 17, 2012, the Parliamentary Internal Affairs and Environmental Protection Committee held a meeting to discuss a proposed amendment to the Non-Ionizing Radiation Law, according to which, safety permits from the Ministry of Environmental Protection will not be issued to cell sites that are within 75 meters of senior citizens institutions, including senior citizen housing, education institutions, shelters and hospitals and that any permit that was issued to a cell site that does not fulfill the said provision shall expire within 6 months from the date of the amendment. The Committee decided not to pass the proposed amendment for parliamentary approval, but rather to promote a bill that would limit the statutory threshold for exposure to non-ionizing radiation to a maximum of 1 microwatt per square centimeter and would abolish the exemption set in the law for the erection of wireless access devices. The proposed bill was referred to preliminary review by the parliament.

If the bill is approved, it will cause significant damage to the Company’s network coverage in urban areas since it will be required to remove hundreds of telecommunication sites which, as a result, will adversely affect the Company’s revenues. In addition, we may need to change the location of our network sites to less suitable locations or to dismantle existing network sites, which may have an adverse effect on the quality and capacity of our network coverage.

Cellular Segment Financial Review⁷

Total revenues for the cellular segment in Q2 2012 were NIS 1,156 million (US$ 295 million), a decrease of 27% from NIS 1,594 million in Q2 2011.

Service revenues for the cellular segment were NIS 949 million (US$ 242 million) in Q2 2012, decreasing by 12% from NIS 1,074 million in Q2 2011. The decrease largely reflected the continuing price erosion of cellular services including voice and data services, following the entry of new competitors in recent months as described above, as well as a decrease in revenues from roaming services, mainly reflecting the impact of an increase in competition from alternative roaming solutions. The lower revenues also reflected the decrease in the average postpaid subscriber base of approximately four percent, year-on-year.

Revenues from cellular data and content services excluding SMS⁸ in Q2 2012 totaled NIS 144 million (US$ 37 million), a decrease of 15% compared with NIS 170 million in Q2 2011. The decrease mainly reflected price erosion of data and content services including browsing and other services, as well as the impact of new consumer regulations in 2011.

Since over half of outgoing airtime and content and data (including SMS) revenues is derived from customers who subscribe to bundled packages which include airtime, data and SMS, the reporting of data and content service revenues relies heavily on the allocation of those revenues between the different services offered in the bundled packages.

SMS service revenues⁷ totaled NIS 115 million (US$ 29 million) in Q2 2012, an increase of 6% compared with NIS 109 million in Q2 2011.

In Q2 2012, the gross profit from cellular services totaled NIS 325 million (US$ 83 million), compared with NIS 385 million in Q2 2011, a decrease of 16%. This mainly reflected the reduction in cellular service revenues, partially offset by a reduction in the cost of cellular service revenues, reflecting a decrease in payroll and related expenses, depreciation and amortization expenses, and the decrease in transmission expenses as described above.

From May 24, 2012, the royalty rate paid to the Ministry of Communications by cellular operators was reduced from 2.5% to 1%. The royalty rate has since been reduced further to 0.292% from August 1, 2012, such that the annual royalty rate for 2012 will be 1.3%. For more information see the Company’s Press release and immediate report on form 6-K dated August 1, 2012.

In Q2 2012, revenues from cellular equipment sales totaled NIS 207 million (US$ 53 million), a decrease of 60% from NIS 520 million in Q2 2011. As explained, the decrease largely reflected the significant reduction in cellular equipment sales, with the main factors that led to the reduction including a strengthening of competition for handset sales, increasingly stringent payment terms, a general decrease in market demand reflecting the high proportion of smartphones sold last year, and an end to the use of special discounts for customers with new handsets.

The gross profit from cellular equipment sales in Q2 2012 was NIS 31 million (US$ 8 million), compared with NIS 115 million in Q2 2011, a decrease of 73%. This was mainly due to the lower quantity of cellular equipment sales, as well as a decrease in the level of profit per equipment device sale.

Gross profit for the cellular segment in Q2 2012 totaled NIS 356 million (US$ 91 million), a decrease of 29% compared to NIS 500 million in Q2 2011.

Selling, marketing, general and administration expenses for the cellular segment in Q2 2012 amounted to NIS 155 million (US$ 40 million), decreasing by 13% from NIS 179 million in Q2 2011. The decrease mainly reflected decreases in payroll and related expenses, and selling commissions, partially offset by an increase in bad debts and doubtful accounts expenses reflecting the NIS 16 million one-time reductions in bad debts and doubtful accounts expenses which was recorded in Q2 2011.

Overall, operating profit for the cellular segment in Q2 2012 was NIS 231 million (US$ 59 million), decreasing by 33% compared with NIS 347 million in Q2 2011.

EBITDA for the cellular segment totaled NIS 367 million (US$ 94 million) in Q2 2012, a decrease of 27% from NIS 502 million in Q2 2011. As a percentage of total cellular revenues, EBITDA in Q2 2012 was 32%, compared with 31% in Q2 2011.

Cellular Segment Operational Review

During the second quarter of 2012, the cellular subscriber base (including mobile data and 012 Mobile subscribers) decreased by approximately 49,000, to total approximately 3.1 million subscribers at quarter-end. The post-paid cellular subscriber base, including mobile broadband subscribers, decreased by approximately 55,000 and totaled approximately 2.2 million (71% of the base) at quarter end. The pre-paid subscriber base increased by approximately 6,000 and totaled approximately 0.9 million (29% of the base) at quarter end.

The quarterly churn rate for Q2 2012 was 8.9% compared with 6.5% in Q2 2011 and 8.0% in Q1 2012. The high rate of churn largely reflects the impact on postpaid subscribers of the two new cellular operators which entered the market during the second quarter with aggressive offerings, and the MVNOs. Total cellular market share at the end of the second quarter is estimated to be approximately 31%, compared with 32% at the end of the previous quarter.

The monthly Average Revenue Per User (“ARPU”) for cellular subscribers for Q2 2012 was NIS 101 (US$ 26), a decrease of 10% from NIS 112 in Q2 2011. The decrease mainly reflects the ongoing price erosion as described above.

The monthly average Minutes of Use per subscriber (“MOU”) for cellular subscribers in Q2 2012 was 437 minutes, an increase of 10% from 396 minutes in Q2 2011. This increase largely reflects the continued increase in the proportion of cellular subscribers with bundled packages that include large or unlimited quantities of minutes, and occurred despite the continued increase in the proportion of mobile broadband subscribers in the subscriber base which puts downward pressure on the MOU since such subscribers do not generate significant airtime use.

Fixed Line Segment Review⁹

In Q2 2012, total revenues for the fixed line segment was NIS 308 million (US$ 79 million) compared with NIS 332 million in Q2 2011, a decrease of 7%.

Fixed line segment service revenues totaled NIS 300 million (US$ 76 million) in Q2 2012, a decrease of 8% compared with NIS 325 million in Q2 2011. As described above, the decrease reflected the decrease in the average subscriber base in the fixed line market over the period, as well as price erosion in fixed line services.

The total number of active fixed lines including 012 Smile was approximately 281,000 at the end of Q2 2012, compared with approximately 292,000 at the end of Q2 2011. The ISP subscriber base was approximately 609,000 as of the end of Q2 2012, compared with approximately 632,000 at the end of Q2 2011.

Revenues from equipment sales in the fixed line segment in Q2 2012 totaled NIS 8 million (US$ 2 million), compared with NIS 7 million in Q2 2011.

Gross Profit for the fixed line segment was NIS 72 million (US$ 18 million) in Q2 2012, compared with NIS 86 million in Q2 2011, a decrease of 16%. The decrease was largely attributable to the decrease in revenues, partially offset by a decrease in the cost of service revenues related to lower depreciation and amortization expenses and a decrease in payments made to infrastructure providers.

Selling, marketing, general and administration expenses for the fixed line segment totaled NIS 58 million (US$ 15 million) in Q2 2012, increasing by 4% from NIS 56 million in Q2 2011.

Operating profit for the fixed line segment was NIS 14 million (US$ 4 million) in Q2 2012, a decrease of 53% compared to NIS 30 million in Q2 2011. The decrease largely reflected the impact of the lower service revenues, as described above.

EBITDA for the fixed line segment in Q2 2012 totaled NIS 56 million (US$ 14 million), compared with NIS 84 million in Q2 2011, a decrease of 33%, again reflecting the impact of the lower service revenues.

Conference Call Details

Partner will hold a conference call on Tuesday, August 14, 2012 at 10.00 a.m. Eastern Time / 5.00 p.m. Israel Time.

Please call the following numbers (at least 10 minutes before the scheduled time) in order to participate:

International: +972.3. 9180610
North America toll-free: + 1.888.407.2553

A live webcast of the call will also be available on Partner’s website at: http://www.orange.co.il/en/Investors-Relations/lobby/

If you are unavailable to join live, the replay numbers are:

International: +972.3.925.5918
North America: +1.888.295.2634

Both the replay of the call and the webcast will be available from August 14, 2012 until August 18, 2012.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “project”, “goal”, “target” and similar expressions often identify forward-looking statements but are not the only way we identify these statements. All statements other than statements of historical fact included in this press release regarding our future performance, plans to increase revenues or margins or preserve or expand market share in existing or new markets, plans to reduce expenses, and any statements regarding other future events or our future prospects, are forward-looking statements.

We have based these forward-looking statements on our current knowledge and our present beliefs and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions about Partner, consumer habits and preferences in cellular telephone usage, trends in the Israeli telecommunications industry in general, the impact of current global economic conditions and possible regulatory and legal developments. For a description of some of the risks we face, see “Item 3D. Key Information – Risk Factors”, “Item 4. – Information on the Company”, “Item 5. – Operating and Financial Review and Prospects”, “Item 8A. – Consolidated Financial Statements and Other Financial Information – Legal and Administrative Proceedings” and “Item 11. – Quantitative and Qualitative Disclosures about Market Risk” in the Company’s 2011 Annual Report (20-F) filed with the SEC on March 22, 2012, as amended on March 26, 2012. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and actual results may differ materially from the results anticipated. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The financial results presented in this press release are audited financial results.

The results were prepared in accordance with IFRS, other than EBITDA and free cash flow before interest payments, which are non-GAAP financial measures.

The financial information is presented in NIS millions (unless otherwise stated) and the figures presented are rounded accordingly.

The convenience translations of the Nominal New Israeli Shekel (NIS) figures into US Dollars were made at the rate of exchange prevailing at June 30, 2012: US $1.00 equals NIS 3.923. The translations were made purely for the convenience of the reader.

Use of Non-GAAP Financial Measures:

Earnings before financial interest, taxes, depreciation, amortization and exceptional items (including impairment charges) (‘EBITDA’) is presented because it is a measure commonly used in the telecommunications industry and is presented solely to enhance the understanding of our operating results. This measure, however, should not be considered as an alternative to operating income or income for the year as indicators of our operating performance. Similarly, this measure should not be considered as an alternative to cash flow from operating activities as a measure of liquidity. EBITDA is not a measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. EBITDA may not be indicative of our historic operating results nor is it meant to be predictive of potential future results.

Reconciliation between our net cash flow from operating activities and EBITDA on a consolidated basis is presented in the attached summary financial results.

About Partner Communications

Partner Communications Company Ltd. (“Partner”) is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony and internet services) under the orange™ brand. The Company provides mobile communications services to over 3 million subscribers in Israel. Partner’s ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).

Partner is an approximately 45%-owned subsidiary of Scailex Corporation Ltd. (“Scailex”). Scailex’s shares are traded on the Tel Aviv Stock Exchange under the symbol SCIX and are quoted on “Pink Quote” under the symbol SCIXF.PK. Scailex currently operates in two major domains of activity in addition to its holding in Partner: (1) the sole import, distribution and maintenance of Samsung mobile handset and accessories products primarily to the major cellular operators in Israel (2) management of its financial assets.

For more information about Scailex, see http://www.scailex.com

For more information about Partner, see http://www.orange.co.il/investor_site

About 012 Smile Telecom Ltd.

012 Smile is a wholly owned subsidiary of Partner Communications which provides international long distance services, internet services and local telecommunication fixed-line services (including telephony services using VOB) under the 012 Smile brand. The completion of the purchase of 012 Smile by Partner Communications took place on March 3, 2011. For further details see the press release dated March 3, 2011.

¹Operating expenses including cost of service revenues, selling, marketing and administrative expenses and excluding depreciation and amortization.

²For definition of EBITDA measure, see “Use of Non-GAAP Financial Measures” below.

³Cash flows from operating activities before interest payments, net of cash flows used for investing activities.

⁴See also definitions on first page.

⁵Includes Primary Rate Interface (“PRI”) lines and subscribers of Voice over Broadband (“VoB”) services.

⁶Total current and non-current borrowings less cash and cash equivalents.

⁷Includes intersegment revenues and costs of revenues.

⁸In Q4 2011, the Company adjusted its allocation of credits between the different cellular services. The services revenues for Q2 2011 have been restated under the new methodology for the purposes of comparison.

⁹The analysis includes intersegment revenues and costs of revenues.

* Net of treasury shares