TeleCommunication Systems (TSYS) Selected by Global Manufacturer for Mobile Handset Location

TCS to Provide Industry-Leading Navigation, Integrated Maps and Software Components

Mattson Technology (MTSN) Reports Results for the Q2 2012

FREMONT, CA — (Marketwire) — 07/26/12 — Mattson Technology, Inc. (NASDAQ: MTSN), a leading supplier of advanced process equipment used to manufacture semiconductors, today announced results for the second quarter of 2012 ended July 1, 2012.

2012 Second Quarter Highlights:

• Net loss for the second quarter of 2012 was $3.3 million, or a $0.06 net loss per share. This compares with a net loss of $1.1 million or a $0.02 net loss per share in the first quarter. Excluding restructuring charges of $0.8 million, non-GAAP net loss per share was $0.04 in the second quarter, compared to the non-GAAP net loss per share of $0.01in the first quarter, excluding restructuring charges of $0.7 million.
• Gross margins were 38 percent for the second quarter of 2012, compared to 34 percent in the prior quarter. The increase in gross margin was primarily due to a favorable change in net sales deferrals as well as an increase of higher margin net sales of thermal systems and spares.
• As a result of our cost reduction efforts, total operating expenses decreased $1.9 million to $16.3 million for the second quarter of 2012, compared to $18.2 million in the prior quarter. Excluding restructuring charges, non-GAAP operating expenses decreased by $2.0 million to $15.5 million for the second quarter of 2012 from $17.5 million in the prior quarter.
• At July 1, 2012, working capital was $55.2 million, with cash, cash equivalents, and restricted cash of $30.7 million and no debt. The decrease in cash during the quarter of $6.7 million was primarily due to increased inventory of $5.8 million, which was principally the result of a customer requested delay in the shipment of systems during the quarter.

David L. Dutton, Mattson Technology’s president and chief executive officer, commented, “As previously announced on July 10, primarily due to a request from a foundry customer to delay the shipment of systems, net sales for the second quarter were lower than expected at $34.9 million, a decrease of 31 percent from $50.5 million in the first quarter. As we previously reported, we also experienced the NAND business softening during the second quarter. We are addressing the near term weakness in our sector by focusing on additional cost reductions and incremental revenue opportunities. We have invested in leading technology and low cost of ownership product offerings that are currently positioned in major customers that we believe will over time lead to share gains, particularly in the etch and rapid thermal processing markets.”

Dutton continued, “We expect to continue to be challenged with significantly lower net sales in the second half of 2012. We are continuing to focus on cost reduction activities and are seeking to reduce our cash flow break-even point to the mid-$30 million quarterly net sales run rate by the end of 2012. We are also continuing our efforts to secure asset based financing. We believe these measures will provide us with adequate liquidity to address our working capital needs.”

Second Quarter 2012 Financial Results

Second quarter 2012 net sales of $34.9 million decreased $15.6 million, or 31 percent, compared with $50.5 million in the first quarter of 2012, and decreased $16.4 million, or 32 percent, compared with $51.3 million in the second quarter of 2011. Gross margin for the second quarter of 2012 was 38 percent as compared to 34 percent in the first quarter of 2012, and represents an eleven-point increase over the 27 percent gross margin in the second quarter of 2011.

Total operating expenses were $16.3 million for the second quarter of 2012, a decrease of $1.9 million compared to the first quarter of 2012. Excluding restructuring charges, non-GAAP operating expenses were $15.5 million in the second quarter of 2012, a $2.0 million decrease compared with $17.5 million in the first quarter of 2012, and a $2.5 million decrease compared with $18.0 million in the second quarter of 2011.

Net loss for the second quarter of 2012 was $3.3 million, or a $0.06 net loss per share. This compares with a net loss of $1.1 million, or a $0.02 net loss per share, in the first quarter of 2012, and a net loss of $5.2 million, or a $0.10 net loss per share, reported in the second quarter of 2011. Excluding restructuring charges, the non-GAAP net loss per share in the second quarter of 2012 was $0.04 as compared to a non-GAAP net loss per share of $0.01 in the first quarter of 2012.

Conference Call

On Thursday, July 26, 2012, at 3:00 p.m. Pacific Time (6:00 p.m. Eastern Time), Mattson Technology will hold a conference call to review the following topics: 2012 second quarter financial results, current business conditions, the near-term business outlook and guidance for the third quarter of 2012. The conference call will be simultaneously webcast at www.mattson.com under the Investors section. In addition to the live webcast, a replay will be available to the public on the Mattson Technology website for one week following the live broadcast. To access the live conference call, please dial (970) 315-0417.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements regarding the Company’s future prospects and plans, including, but not limited to: increases in our market share in certain markets, reduction of costs to a cash flow break-even point, our ability to secure asset based financing and our ability to address our working capital needs. Forward-looking statements address matters that are subject to a number of risks and uncertainties that can cause actual results to differ materially. Such risks and uncertainties include, but are not limited to: the slowdown in NAND sales and delay in shipment to certain foundry customers; the Company’s expectations with respect to continued growth of its business; growth of the industry and the size of the Company’s served available market; the timing of significant customer orders for the Company’s products; customer acceptance of delivered products and the Company’s ability to collect amounts due upon shipment and upon acceptance; the Company’s cash position overall, especially as a result of payments made for inventory and the related collections upon shipment of such inventory; end-user demand for semiconductors, including the growing mobility electronics industry; customer demand for semiconductor manufacturing equipment; the Company’s ability to timely manufacture, deliver and support ordered products; the Company’s ability to bring new products to market, to gain market share with such products and the overall mix of the Company’s products; customer rate of adoption of new technologies; risks inherent in the development of complex technology; the timing and competitiveness of new product releases by the Company’s competitors; the Company’s ability to align its cost structure with market conditions; and other risks and uncertainties described in the Company’s Forms 10-K, 10-Q and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information provided in this news release.

About Mattson Technology, Inc.

Mattson Technology, Inc. designs, manufactures and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits. We are a leading supplier of plasma and rapid thermal processing equipment to the global semiconductor industry, and operate in three primary product sectors: dry strip, rapid thermal processing and etch. Through manufacturing and design innovation, we have produced technologically advanced systems that provide productive and cost-effective solutions for customers fabricating current and next-generation semiconductor devices. For more information, please contact Mattson Technology, Inc., 47131 Bayside Parkway, Fremont, CA, 94538. Telephone: (800) MATTSON/(510) 657-5900. Internet: www.mattson.com.

                          MATTSON TECHNOLOGY, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
            (Unaudited, in thousands, except per share amounts)

                                  Three Months Ended     Six Months Ended
                                 --------------------  --------------------
                                  July 1,    July 3,    July 1,    July 3,
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
Net sales                        $  34,884  $  51,259  $  85,388  $  98,308
  Cost of sales                     21,629     37,275     55,199     71,443
                                 ---------  ---------  ---------  ---------
    Gross profit                    13,255     13,984     30,189     26,865
                                 ---------  ---------  ---------  ---------
Operating expenses:
  Research, development and
   engineering                       5,791      6,645     12,421     13,160
  Selling, general and
   administrative                    9,705     11,380     20,572     22,892
  Restructuring charges                831        (13)     1,551        (78)
                                 ---------  ---------  ---------  ---------
    Total operating expenses        16,327     18,012     34,544     35,974
                                 ---------  ---------  ---------  ---------
Loss from operations                (3,072)    (4,028)    (4,355)    (9,109)
Interest income (expense), net          39         58         70         37
Other income (expense), net           (277)      (969)       105     (2,475)
                                 ---------  ---------  ---------  ---------
Loss before income taxes            (3,310)    (4,939)    (4,180)   (11,547)
Provision for (benefit from)
 income taxes                           36        274        285        (60)
                                 ---------  ---------  ---------  ---------
Net loss                         $  (3,346) $  (5,213) $  (4,465) $ (11,487)
                                 =========  =========  =========  =========
Net loss per share:
  Basic and diluted              $   (0.06) $   (0.10) $   (0.08) $   (0.22)
Shares used in computing net
 loss per share:
  Basic and diluted                 58,507     54,550     58,463     52,395

                          MATTSON TECHNOLOGY, INC.
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                 (unaudited, in thousands, except par value)

                                                     July 1,    December 31,
                                                       2012         2011
                                                   ------------ ------------
                                   ASSETS
Current assets:
  Cash and cash equivalents                        $    28,870  $    31,073
  Restricted cash                                        1,877        1,877
  Accounts receivable, net of allowance for
   doubtful accounts of $619 as of July 1, 2012
   and $684 as of December 31, 2011                     19,028       25,278
  Advance billings                                       2,418        5,071
  Inventories                                           36,581       29,203
  Prepaid expenses and other current assets              6,783        9,024
                                                   -----------  -----------
    Total current assets                                95,557      101,526
Property and equipment, net                              7,687       10,552
Intangibles, net                                           625          750
Other assets                                               740        1,015
                                                   -----------  -----------
      Total assets                                 $   104,609  $   113,843
                                                   ===========  ===========

                    LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                                 $    15,494  $    16,785
  Deferred revenue-current                               9,982       12,117
  Other current liabilities                             14,842       16,447
                                                   -----------  -----------
    Total current liabilities                           40,318       45,349
Deferred revenues, non-current                           3,499        3,158
Other long-term liabilities                              4,182        5,191
                                                   -----------  -----------
    Total liabilities                                   47,999       53,698
                                                   -----------  -----------
Commitments and contingencies
Stockholders' equity:
  Preferred stock, 2,000 shares authorized; none
   issued and outstanding                                    -            -
  Common stock, par value $0.001, 120,000 shares
   authorized; 62,744 shares issued and 58,654
   shares outstanding as of July 1, 2012; and
   62,547 shares issued and 58,366 shares
   outstanding as of December 31, 2011                      63           63
  Additional paid-in capital                           651,110      650,110
  Accumulated other comprehensive income                20,402       20,472
  Treasury stock, 4,181 shares as of July 1, 2012
   and December 31, 2011                               (37,986)     (37,986)
  Accumulated deficit                                 (576,979)    (572,514)
                                                   -----------  -----------
    Total stockholders' equity                          56,610       60,145
                                                   -----------  -----------
        Total liabilities and stockholders' equity $   104,609  $   113,843
                                                   ===========  ===========

Mattson Technology Contact
J. Michael Dodson
Mattson Technology, Inc.
tel 1-510-657-5900
fax 1-510-492-5963

Meru Networks (MERU) Reports Record Second Quarter 2012 Financial Results

26% sequential increase in quarterly revenues Total customer count increases to over 6,600 Strengthened financial position with $12 million growth debt financing

Power-One (PWER) Announces Second Quarter 2012 Results

• Exceeds revenue guidance with quarterly revenue of $322 million; up 24% year-over-year
• A record 1,263 megawatts of inverters shipped in the quarter
• Reports second quarter EPS of $0.30
• Operating cash flow of $56 million in the quarter

CAMARILLO, Calif., July 26, 2012 (GLOBE NEWSWIRE) — Power-One, Inc. (Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, today announced financial results for the second quarter of 2012. For the quarter ended July 1, 2012, Power-One recorded net sales of $322 million with Renewable Energy Solutions contributing $255 million and Power Solutions posting $67 million. Net income attributable to common stockholders for the second quarter was $47 million, or $0.30 per diluted share. This includes a gain, net of tax, of $0.06 per share on foreign currency remeasurement due to the recent weakening of the Euro versus the dollar.

“In the second quarter of 2012, Power-One shipped over 1.2 gigawatts of inverters, a company record, primarily driven by strength in Europe, particularly in the commercial rooftop segment of the market,” said Richard Thompson, Chief Executive Officer of Power-One, “Demand is very robust for our recently introduced TRIO 20/27.5KW inverters which have become our largest selling product line.”

“The higher revenue along with reductions in material costs enabled us to increase our operating income in the second quarter to $60 million, or 19% of revenue,” continued Mr. Thompson. “Improved profitability and working capital management added to our liquidity as cash and equivalents increased to $259 million. This further strengthens Power-One’s bankability in the renewable market.”

Renewable Energy Solutions

In the second quarter of 2012, Renewable Energy (RE) Solutions benefited from strength in the European region, particularly in Italy and Germany. Inverter and related products generated sales of $255 million and an operating margin of 26% for the second quarter of 2012. Operating margin doubled sequentially from the first quarter due to stable pricing, cost reductions in materials, and improved absorption on higher volumes. In the quarter, Power-One shipped 1,263 megawatts of inverters, up 88% sequentially and up 76% year-over-year.

Power Solutions

Power Solutions recorded sales of $67 million and an operating margin of 4% for the second quarter of 2012. In the quarter, the Servers, Storage and Networking segment faced weaker demand as some customers delayed their orders as a result of macroeconomic uncertainties. Power Solutions operating margin declined sequentially as a result of the reduced volumes and corresponding lower overhead absorption.

Balance Sheet

At July 1, 2012, Power-One had cash and cash equivalents of $259 million, as compared with $205 million at January 1, 2012. During the quarter, Power-One repurchased 1.1 million shares of common stock for approximately $5 million.

Business Outlook

As demand in Germany and Italy is expected to moderate, Power-One forecasts revenue of $260 million to $280 million in the third quarter of 2012. At the midpoint, this would represent a 10% increase over the revenue generated in the third quarter of 2011.

Earnings Conference Call

Power-One will discuss its 2012 second quarter results today at 2:00 p.m. Pacific Time. The call will be available both via the telephone at (877) 390-5535 or (631) 291-4579, conference ID # 99604981, or over the Internet through the Power-One investor relations web site at http://investor.power-one.com. To listen to the call, please log-in at least 10 minutes early to register, download, and install any necessary audio software. An accompanying slide presentation for the conference call is also available in the investor relations section of the web site. For those who cannot listen to the live broadcast, the webcast will be available on the investor relations section of the Power-One web site at http://investor.power-one.com/events.cfm throughout the current quarter.

About Power-One

Power-One is a leading provider of renewable energy and energy-efficient power conversion and power management solutions and is the world’s second largest designer and manufacturer of photovoltaic inverters. Its renewable energy products enable the industry’s highest yielding conversion of power from solar arrays for use by utilities, commercial enterprises and homes. Power-One has a 40 year history as the leader in high efficiency and high density power supply products for a variety of industries including Renewable Energy, Servers, Storage & Networking, Industrial and Network Power Systems. The company is headquartered in Camarillo, CA and has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is traded on NASDAQ under the ticker symbol PWER. For more information, please visit www.Power-One.com.

The Power-One, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7338

Safe Harbor Statement

Statements made in this press release which state the Company’s or management’s intentions, beliefs, expectations or predictions for the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and may include statements regarding anticipated future productivity. It is important to note that future performance and actual results could differ materially from those discussed in or underlying such forward-looking statements as a result of risks and uncertainties that cannot be predicted or quantified and that are beyond the Company’s control. Important factors that could cause actual results to differ materially include, but are not limited to: economic conditions in general and business conditions in the power supplies and renewable energy markets; foreign exchange rates; the Company’s ability to improve its operational and supply chain efficiencies; competitive factors such as pricing and technology; the timing and results achieved in completing product manufacturing transitions to Company facilities in China or other low-cost locations;  the threat of a prolonged economic slowdown or a lengthy or severe recession; continued volatility of the financial markets, including fluctuations in interest rates and trading prices of the Company’s equity securities; the results of pending legal proceedings; the Company’s ability to secure market share in higher margin, high-growth markets; the market growth of product sectors targeted by the Company as sectors of focus; and the Company’s ability to increase working capital.  Additional information concerning factors that could cause actual results to differ materially from expectations expressed in this press release are described in the Company’s reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 from time to time, which are also available through the Company’s Website at www.power-one.com or through the SEC’s Electronic Data Gathering and Analysis Retrieval System (EDGAR) at www.sec.gov. Power-One undertakes no obligation to publicly update or revise any forward-looking statement.

CONTACT: Investor Contact:
         Larry Clark
         Investor Relations for Power-One
         Investor.Relations@Power-One.com
         (310) 478-2700 ext. 29

Published Findings Demonstrate Cardium’s (CXM) Catheter Technology for Gene Delivery to Heart

GlobalWise (GWIV) Accepted as Member of Prestigious Organization Technology United

COLUMBUS, OH — (Marketwire) — 07/26/12 — GlobalWise Investments, Inc. (OTCBB: GWIV) (OTCQB: GWIV) (www.GlobalWiseInvestments.com) and its wholly owned subsidiary Intellinetics, Inc., a leading-edge technology company focused on the design, implementation and management of cloud-based Enterprise Content Management (“ECM”) systems in both the public and private sectors, today announce the acceptance of the Company as a member of the highly esteemed office technology organization, Technology United.

Technology United was established by GlobalWise Channel Partner MWAi’s CEO Mike Stramaglio to form a strategic hub alliance that provides the best-in-class and most aggressive solutions and services that can collectively cover the technology needs within the office space, including IT automation, security and document management services, such as those provided by GlobalWise.

“Technology United’s mission is to pull the best partners together with the best technology to deliver a superior user experience. The solutions created will allow businesses to enjoy efficiencies and cost savings that can significantly impact their bottom line,” stated Mike Stramaglio, CEO of MWAi and founder of Technology United.

The membership in Technology United continues the GlobalWise approach to utilizing Channel Partners for lead generation and partnering approaches to solving complex office technology issues and provides a new avenue to sell cloud-based ECM solutions. Technology United members include Intel, Green Hills Software, Newfield IT and RIM, in addition to MWAi.

“I am excited our Company has been accepted into this prestigious, members-only organization,” stated William J. “BJ” Santiago, CEO of GlobalWise. “Mike has done a fantastic job putting together the best of the best in the office technology space. Each member represents a specific niche within this space, such as copier hardware, security, embedded technologies, tracking, and for our Company, the most cost effective cloud-based ECM solution for the SMB market. I see this membership as a great validator of our 18-year history as a software company providing the most robust ECM solutions in the industry.”

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.

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
Investors@MissionIR.com

Golden Star (GSS) Announces Continued Drilling Success

DENVER, CO–(Marketwire – July 25, 2012) – Golden Star Resources Ltd. (NYSE MKT: GSS) (TSX: GSC) (GHANA: GSR)

– Intersects 59.4 meters grading 2.5 grams per tonne (g/t) gold beneath the current 242 reserve pit designs

– Intersects 25.2 meters grading 4.1 g/t gold and 20.6 meters grading 2.7 g/t gold beneath the currently operating Starter Pit

– Intersects 33.9 meters grading 2.2 g/t gold and 31.9 meters grading 1.8 g/t gold beneath the currently operating South East Pit

Golden Star Resources Ltd. (NYSE MKT: GSS) (TSX: GSC) (GHANA: GSR) (“Golden Star” or the “Company”) today provided an update on exploration activities at its Wassa mine in Ghana. Complete drill results, plans and sections are posted on the Company’s website at www.gsr.com or click the following link: http://www.gsr.com/Operations/Wassa.asp. (Note: All references to “widths” in this news release are to true widths unless otherwise indicated and all references to “m” are to meters.)

The exploration drilling at Wassa Main continued to intersect wider zones of over 2 g/t gold mineralization along strike and down dip. The current drilling program consists predominantly of step-out drilling testing the extents of the deeper mineralization below the current reserve pit designs. Preliminary in-house resource models and pit shells show that this mineralization could be economic should the grades and widths intersected thus far show good continuity. In order to accelerate the 50,000-meter drilling program now underway below the Wassa Main pit designs, the Company is augmenting its current drilling fleet of two owner-operated drill rigs with three additional contractor-operated multipurpose drilling rigs. The drilling contract has been awarded and the contractor has begun mobilizing equipment to site to commence drilling during August 1, 2012.

During the second quarter of 2012 a further 33 drill holes were completed totaling 8,040 meters. Drilling continued testing the B Shoot, Starter, South East and 242 areas at Wassa. Drilling results from the Starter area, which is the surface projection of the interpreted large scale fold hinge zone, have thus far been encouraging. These results include hole STDD018, which intersected 4.1 g/t gold over 25.2 meters at 15 meters below the current mining surface and within the current reserve pit. This hole also intersected another deeper zone (approximately 65 meters below the reserve pit design) of 2.7 g/t gold over 20.6 meters. Further drilling has been planned to follow up on this deeper zone both along strike and down dip. Significant results from the Starter (hinge zone) drilling during the second quarter of 2012 are summarized in the table below.

Starter Q2 2012 significant drill intersections

----------------------------------------------------------------------------
                                                                   -
        Easting Northing Elev   Az    Dip   From   To   Drilled  True  Gold
Hole ID   (m)      (m)    (m) (deg.) (deg.)  (m)   (m)   Width  Width Grade
                                                           (m)    (m)   g/t
============================================================================
STDD015  39977    20251   961    90     -49   19.0  25.0   6.0    5.0   5.5
STDD016  39979    20225   961    90     -48   87.4 104.8   17.4   14.8  2.0
STDD016  39979    20225   961    90     -48  147.8 158.2   10.4   8.8   3.3
STDD018  40012    20375   958    90     -52  163.2 188.7   25.5   20.6  2.7
STDD018  40012    20375   958    90     -52   16.0  48.0   32.0   25.2  4.1
STDD019  40000    20332   957    90     -51  199.0 214.0   15.0   12.3  2.1
STDD019  40000    20332   957    90     -51  246.0 253.5   7.5    6.1   5.8
----------------------------------------------------------------------------

Additional drilling was also conducted along the limbs of the Wassa Main fold targeting both B Shoot and South East deeper mineralization on the eastern limb. The South East drilling continued to intersect wider zones of gold mineralization, including BSDD124, which intersected South East mineralization at depth but was collared in the B Shoot pit, which drilled 33.9 meters true width grading 2.2 g/t gold. This intersection is approximately 50 meters below the deepest part of the current reserve pit designs and has confirmed previously announced (see the Company’s February 6, 2012, news release) mineralization intersected in SEDD039 (36.3 meters grading 5.4 g/t gold) and SEDD035 (20.9 meters grading 1.9 g/t gold), which are located approximately 60 meters up dip and 50 meters along strike from hole BSDD124, respectively. Significant results intersected at B shoot and South East during the second quarter are tabulated below.

B Shoot Q2 2012 significant drill intersections

----------------------------------------------------------------------------
                                                                   -
        Easting Northing Elev   Az    Dip   From   To   Drilled  True  Gold
Hole ID   (m)      (m)    (m) (deg.) (deg.)  (m)   (m)   Width  Width Grade
                                                           (m)    (m)   g/t
============================================================================
BSDD124  40026    19825   983    90     -50   86.2  98.0   11.8   9.7   3.0
BSDD124  40026    19825   983    90     -50  239.5 280.9   41.4   33.9  2.2
BSDD124  40026    19825   983    90     -50  329.0 341.6   12.6   10.3  3.1
BSDD125  39757    20050  1015    90     -55  136.1 152.3   16.2   12.4  2.2
BSDD127  39854    20175   985    90     -59   80.4  88.8   8.4    6.0   12.3
BSDD127  39854    20175   985    90     -59  231.0 236.5   5.5    4.0   7.8
----------------------------------------------------------------------------

South East Q2 2012 significant drill intersections

----------------------------------------------------------------------------
                                                                   -
         Easting Northing Elev  Az     Dip    From   To  Drilled  True  Gold
 Hole ID   (m)      (m)    (m) (deg.) (deg.)  (m)   (m)   Width  Width Grade
                                                           (m)    (m)   g/t
============================================================================
SEDD050A  40071    19875  1009   90     -53  218.9 223.0   4.1    3.3   11.5
SEDD050A  40071    19875  1009   90     -53  237.2 252.9   15.7   12.5  2.7
 SEDD051  40052    19775  1008   90     -60  272.5 286.0   13.5   9.7   4.1
 SEDD052  40072    19850  1007   90     -55   48.0  53.0   5.0    3.9   10.6
SEDD057A  40331    19950  1001   90     -46   98.0 134.8   36.8   31.9  1.8
 SEDD058  40239    19951  1000   90     -55  161.7 166.7   5.0    3.9   21.3
----------------------------------------------------------------------------

Limited drilling was conducted on the western limb of the fold along the 242 trend. The drilling tested the down dip extent of mineralization and defined the boundaries of a diorite body, which occupies the core of the fold. The diorite is a syn-volcanic intrusion, which provides rheological contrasts with the surrounding mafic volcanic flows, generating dilation zones where wide accumulations of gold mineralization occur. For example, hole 242DD054 intersected 59.4 meters grading 2.5 g/t gold. Where the mineralized structure intersects the diorite body, mineralization is often present but exhibits narrower zones and lower grade. Further drilling has been planned to test the extents of the diorite on both margins within the hinge zone to assist in delineating geometry of the mineralization. Significant drilling results in the 242 limb are outlined in the underlying table.

242 Pit Q2 2012 significant drill intersections

----------------------------------------------------------------------------
                                                                   -
         Easting Northing Elev  Az     Dip    From   To  Drilled  True  Gold
 Hole ID   (m)      (m)    (m) (deg.) (deg.)  (m)   (m)   Width  Width Grade
                                                           (m)    (m)   g/t
============================================================================
242DD051  39912    20236   970   325    -70   73.2  78.0   4.8    4.4   5.9
242DD052  40019    20347   958   325    -75   54.0  67.0   13.0   11.4  2.3
242DD054  39756    20067  1000   325    -58  156.3 217.0   60.7   59.4  2.5
----------------------------------------------------------------------------

With the addition of the three contractor-operated drilling rigs to complete Phases 1 and 2 of the program, Golden Star expects to spend approximately $10.4 million over the next nine months, and drilling results will be used to update resource models and pit optimizations. Pending positive results of this program, further infill drilling campaigns in 2013 will be required to increase confidence in the classification of the resources and to enable possible conversion to reserves. Drilling results for the first half of 2012 are being incorporated into an updated resource estimate for the year-end resources and reserves statements.

Mitchel Wasel, Vice President of Exploration, commented, “The commitment from the Board to expand the drilling program at the Wassa Main deposits will enable Golden Star to make informed decisions on possible expansion scenarios over the next 18 months. Recent drilling results, which indicate that Wassa mineralization at depth is wider and higher grade than what has been mined to date, clearly support the Company’s plans to move forward aggressively with this drilling program.”

COMPANY PROFILE

Golden Star Resources holds the largest land package in one of the world’s largest and most prolific gold producing regions. The Company holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana, West Africa. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in Brazil in South America. Golden Star has approximately 259 million shares outstanding. Additional information is available at www.gsr.com.

Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Such statements include: our expectations regarding our planned drilling and exploration activities for the remainder of 2012 and the timing thereof; the impact of our results of exploration on our reserves and resources and on the Wassa pit and Wassa operations; the potential for infill drilling campaigns in 2013; the timing of commencement of contract drilling; plans to spend approximately $10.4 million over the next nine months; and the timing of decisions with respect to expansion plans. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties. Factors that could cause actual results to differ materially include timing of and unexpected events during exploration; variations in ore grade; variations in relative amounts of refractory, non-refractory and transition ores; technical or permitting issues, and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Form 10-K for 2011 and subsequent Forms 10-Q for 2012 and other filings of the Company with the United States Securities and Exchange Commission and the applicable Canadian securities regulatory authorities. The forecasts contained in this press release constitute management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.

QA/QC:

The technical contents of this press release have been reviewed by S. Mitchel Wasel, BSc Geology, a Qualified Person pursuant to National Instrument 43-101. Mr. Wasel is Vice President of Exploration for Golden Star and an active member and Registered Chartered Professional of the Australasian Institute of Mining and Metallurgy.

The results for Wassa quoted herein are based on the analysis of saw-split HQ/NQ diamond half core or a three kilogram single stage riffle split of a nominal 25 to 30 kg Reverse Circulation chip sample which has been sampled over nominal one meter intervals (adjusted where necessary for mineralized structures). Sample preparation and analyses have been carried out at SGS Laboratories in Tarkwa using a 1,000 gram slurry of sample and tap water which is prepared and subjected to an accelerated cyanide leach (LEACHWELL). The sample is then rolled for twelve hours before being allowed to settle. An aliquot of solution is then taken, gold extracted into Di-iso Butyl Keytone (DiBK), and determined by flame Atomic Absorption Spectrophotometry (AAS). Detection Limit is 0.01ppm.

All analytical work is subject to a systematic and rigorous Quality Assurance-Quality Control (QA-QC). At least 5% of samples are certified standards and the accuracy of the analysis is confirmed to be acceptable from comparison of the recommended and actual “standards” results. The remaining half core is stored on site for future inspection and detailed logging, to provide valuable information on mineralogy, structure, alteration patterns and the controls on gold mineralization.

Additional information on earlier drilling results at Wassa are available in our February 6, 2012, press release.

TriQuint (TQNT) Announces Second Quarter 2012 Results

TriQuint Semiconductor, Inc. (NASDAQ:TQNT), a leading RF solutions supplier and technology innovator, announces its financial results for the quarter ended June 30, 2012, including the following highlights:

• Revenue for the quarter was $178.0 million
• GAAP net loss for the quarter was $16.5 million, or $(0.10) per share
• Non-GAAP net loss for the quarter was $15.0 million, or $(0.09) per share
• Booked $13 million in orders for F-35 Lightning II Joint Strike Fighter and TPQ-53 Army radar
• Announced $12.3 million GaN DARPA contract to develop Ultra-Fast Power Switch technology
• Shipping MMPA & BAW content on new Galaxy* phone for Verizon
• Introduced industry’s first 802.11ac Wi-Fi RF module for next-generation smartphones and tablets
• Closed major design wins in Fiber-to-the-Home and optical networks

Commenting on the results for the quarter ended June 30, 2012, Ralph Quinsey, President and Chief Executive Officer, stated, “TriQuint’s second quarter performance was in line with expectations. Mobile devices demand was soft in the second quarter as the smartphone industry prepares for a seasonally strong second half, and our Defense and Networks revenue was slightly up year-to-date with a healthy outlook for the remainder of the year. We believe TriQuint is well positioned for revenue growth and improved financial performance in the second half of 2012.”

Summary Financial Results for the Three and Six Months Ended June 30, 2012:

Revenues for the second quarter of 2012 were $178.0 million, down 22% from the second quarter of 2011 and down 18% sequentially. Mobile Devices market revenue declined 24%, Networks declined 5% and Defense was consistent sequentially. Revenue for the six months ended June 30, 2012 was $394.7 million, down 13% from the six months ended July 2, 2011.

GAAP

Gross margin for the second quarter of 2012 was 25.2%, down sequentially from 28.9%. Gross margin for the six months ended June 30, 2012 was 27.2%, down from 39.6% for the same period in 2011 due to low factory utilization.

Operating expenses for the second quarter of 2012 were $69.4 million, or 39% of revenue, up from $66.2 million in the previous quarter due primarily to higher medical and engineering expenses. Operating expenses for the six months ended June 30, 2012 were $135.5 million compared to $138.0 million for the same period in 2011.

Net loss for the second quarter of 2012 was $16.5 million or $(0.10) per share, down from net income of $1.9 million, or $0.01 per diluted share, in the previous quarter. Net loss for the six months ended June 30, 2012 was $14.6 million or $(0.09) per share compared to a net income of $29.0 million or $0.17 per share for the six months ended July 2, 2011.

Cash and investments decreased by $32.5 million to $162.4 million in the quarter due primarily to the stock repurchase of nearly 4.9 million shares for approximately $25 million.

Non-GAAP

Gross margin for the second quarter was 27.9%, down sequentially from 30.4%. Gross margin for the six months ended June 30, 2012 was 29.2% down from 40.7% for the same period in 2011.

Operating expenses for the quarter were $64.3 million, or 36% of revenue, up from $61.4 million in the prior quarter. Operating expenses for the six months ended June 30, 2012 was $125.7 million or 32% of revenue.

Net loss for the second quarter of 2012 was $15.0 million, or $(0.09) per share, down sequentially from net income of $4.1 million or $0.02 per diluted share. Net loss for the six months ended June 30, 2012 was $10.9 million or $(0.07) per share compared to a net income of $55.0 million or $0.32 per diluted share for the six months ended July 2, 2011.

Please see the discussion of non-GAAP financial measures below and the attached supplemental schedule for a reconciliation of GAAP to non-GAAP financial measures.

Outlook:

The Company believes third quarter 2012 revenues will be between $195 million and $205 million and non-GAAP gross margin is expected to be between 30% and 32%. Third quarter non-GAAP net income per share is expected to be about breakeven. The Company is 90% booked to the midpoint of revenue guidance.

Additional Information Regarding June 30, 2012 Results:

GAAP and non-GAAP financial measures are presented in the tables below (in millions, except for percentage and per share information). Non-GAAP financial measures are reconciled to the corresponding GAAP financial measures in the financial statement portion of this press release.

Conference Call:

TriQuint will host a conference call this afternoon at 2:00 p.m. PDT to discuss the results for the quarter and our future expectations for the company. To access the conference call, please dial (888) 813-6582 domestically, or (706) 643-7082 internationally, approximately ten minutes prior to the beginning of the call, using passcode 91818717. The call can also be heard via webcast accessed through the “Investors” section of TriQuint’s web site at: http://invest.triquint.com. A replay of the conference call will be available until August 1, 2012.

Non-GAAP Financial Measures:

This press release provides financial measures for non-GAAP net income (loss), diluted earnings (loss) per share, gross profit, gross margin, operating expenses and operating income (loss) that exclude equity compensation expense, non-cash tax expense, certain entries associated with acquisitions, restructuring charges and other specifically identified non-routine items, and are therefore not calculated in accordance with accounting principles generally accepted in the United States (“GAAP”). The charges associated with acquisitions reflect the amortization of intangible and tangible assets recorded in connection with acquisition accounting and charged to the income statement. The non-cash tax expense excludes certain deferred tax charges and benefits that do not result in a tax payment or tax refund. Management believes that these non-GAAP financial measures provide meaningful supplemental information that enhances management’s and investors’ ability to evaluate TriQuint’s operating results.

These non-GAAP financial measures are not intended to be used in isolation and should not be considered a substitute for any other performance measure determined in accordance with GAAP. Investors and potential investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool, including that other companies may calculate similar non-GAAP financial measures differently than we do, limiting their usefulness as a comparative tool. The company compensates for these limitations by providing specific information regarding the GAAP amount excluded from the non-GAAP financial measures. The company further compensates for the limitations of our use of non-GAAP financial measures by presenting comparable GAAP measures more prominently. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures contained within this press release with our GAAP net income and net income per share.

Forward-Looking Statements:

This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding TriQuint’s anticipated third quarter revenues, non-GAAP gross margin, net income and our bookings to revenue; expected seasonality in the smartphone market; and revenue growth and improved financial performance. These forward-looking statements are statements of management’s opinion and are subject to various assumptions, risks, uncertainties and changes in circumstances. Actual results may vary materially from those expressed or implied in the statements herein or from historical results, due to changes in economic, business, competitive, technological and/or regulatory factors. More detailed information about risk factors that may affect actual results are set forth in TriQuint’s reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission. These reports can be accessed at the SEC web site, www.sec.gov. Except as required by law, TriQuint undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements.

A reader of this release should understand that it is not possible to predict or identify all risk factors and should not consider the risk factors described in TriQuint’s filings with the Securities and Exchange Commission to be a complete statement of all potential risks and uncertainties.

Facts About TriQuint

Founded in 1985, TriQuint Semiconductor (NASDAQ: TQNT) is a leading RF solutions supplier and technology innovator for the world’s top communications, defense and aerospace companies. People and organizations around the world need real-time, all-the-time connections; TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. With the industry’s broadest technology portfolio, recognized R&D leadership, and expertise in high-volume manufacturing, TriQuint creates standard and custom products using gallium arsenide (GaAs), gallium nitride (GaN), surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies. The company has ISO9001-certified manufacturing facilities in the U.S., production in Costa Rica, and design centers in North America and Germany. For more information, visit www.triquint.com.

TriQuint: Connecting the Digital World to the Global Network^®

*Other names and brands may be claimed as the property of others

TQNT – F

Our earnings release contains forward looking estimates of non-GAAP gross margin and earnings per share for the third quarter of 2012. We provide these non-GAAP measures on a prospective basis for the same reasons that we provide them to investors on a historical basis. The following table provides a reconciliation of GAAP gross margin and loss per share to non-GAAP gross margin and earnings per share for the third quarter of 2012 based on the mid-point of guidance.

Hudson Technologies (HDSN) to Host Conference Call to Discuss Second Quarter Results

Hudson Technologies, Inc. (NASDAQ: HDSN) will host a conference call and webcast on Thursday, August 2, 2012 at 10:00 a.m. Eastern Time to discuss the Company’s second quarter and six month results.

To access the live webcast, log onto the Hudson Technologies website at www.hudsontech.com, and click on “Investor Relations”.

To participate in the call by phone, dial (877) 407-9205 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8054.

A replay of the teleconference will be available until September 1, 2012 and may be accessed by dialing (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use account number 286 and pass code 397607. A transcript of the call will be available on the Hudson Technologies website approximately 24 hours after its completion.

About Hudson Technologies

Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide^® Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide^® Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. For further information on Hudson, please visit the Company’s web site at www.hudsontech.com.

Safe Harbor Statement under the Private Securities Litigation Act of 1995

Statements contained herein, which are not historical facts constitute forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the markets for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of refrigerants), the Company’s ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements which become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing and other risks detailed in the Company’s periodic reports filed with the Securities and Exchange Commission. The words “believe”, “expect”, “anticipate”, “may”, “plan”, “should” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

iCAD (ICAD) to Host Second Quarter 2012 Financial Results Conference Call

iCAD, Inc. (Nasdaq: ICAD), an industry-leading provider of advanced image analysis, workflow solutions and radiation therapy for the early identification and treatment of cancer, today announced that the Company will release financial results for the second quarter and six months ended June 30, 2012, following the close of the market on Wednesday, August 1, 2012.

Ken Ferry, President and Chief Executive Officer, and Kevin C. Burns, Executive Vice President and Chief Financial Officer, will host a conference call for investors beginning at 10:00 a.m. ET on Thursday, August 2, 2012 to discuss the second quarter 2012 financial results and to answer questions.

Shareholders and other interested parties may participate in the conference call by dialing 800-510-9834 (domestic) or 617-614-3669 (international) and entering passcode 86742657. The call also will be broadcast live on the Internet at www.streetevents.com, www.fulldisclosure.com and www.icadmed.com.

A replay of the conference call will be accessible two hours after its completion through August 9, 2012 by dialing 888-286-8010 (domestic) or 617-801-6888 (international) and entering passcode 47354887. The call will also be archived for 90 days at www.streetevents.com, www.fulldisclosure.com and www.icadmed.com.

About iCAD, Inc.

iCAD is an industry-leading provider of Computer-Aided Detection (CAD) technologies, advanced image analysis, workflow solutions and radiation therapies for the early identification and treatment of common cancers. iCAD offers a comprehensive range of high-performance, upgradeable CAD solutions for mammography and advanced image analysis and workflow solutions for Magnetic Resonance Imaging, for breast and prostate cancers and Computed Tomography for colorectal cancer. iCAD’s Xoft system, offers radiation treatment for early-stage breast cancer that can be administered in the form of intraoperative radiation therapy or accelerated partial breast irradiation. The Xoft system is also cleared for the treatment of non-melanoma skin cancer and endometrial cancer. For more information, call (877) iCADnow, or visit www.icadmed.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:

Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the Company’s ability to defend itself in litigation matters, the risks relating to the Company’s acquisition of Xoft including, the expected benefits of the acquisition may not be achieved in a timely manner, or at all; the Xoft business operations may not be successfully integrated with iCAD’s and iCAD may be unable to achieve the expected synergies, business and strategic objectives following the transaction, the risks of uncertainty of patent protection; the impact of supply and manufacturing constraints or difficulties; product market acceptance; possible technological obsolescence; increased competition; customer concentration; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe”, “demonstrate”, “intend”, “expect”, “estimate”, “anticipate”, “likely”, and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release. For additional disclosure regarding these and other risks faced by iCAD, please see the disclosure contained in our public filings with the Securities and Exchange Commission, available on the Investors section of our website at http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.

CytRx (CYTR) Initiates Phase 1b Clinical Trial in Advanced Solid Tumors

CytRx Corporation (NASDAQ: CYTR), a biopharmaceutical company specializing in oncology, today announced the initiation of a Phase 1b clinical trial to determine the maximum tolerated dose and to evaluate preliminary efficacy of aldoxorubicin (formerly INNO-206) administered in combination with the commonly used chemotherapeutic agent doxorubicin in patients with advanced solid tumors who have failed other therapies. Aldoxorubicin is a tumor-targeting conjugate of doxorubicin.

“Recent trials conducted by Dr. Felix Kratz of the Tumor Biology Institute in Freiburg, Germany using animal models of human tumors showed that the combination of aldoxorubicin and free doxorubicin administered at 50% each of their respective maximum tolerated dose provided complete and prolonged remissions in ovarian and pancreatic cancers with minimal weight loss compared with each drug administered individually at its maximum tolerated dose,” said Sant P. Chawla, M.D., F.R.A.C.P., Director of the Sarcoma Oncology Center in Santa Monica, Calif. “Given these favorable results, the combination of aldoxorubicin plus doxorubicin warrants further evaluation as a treatment for patients with solid tumors.”

The single-center Phase 1b clinical trial will be conducted under the direction of Dr. Chawla and will enroll up to 24 patients. Doxorubicin will be administered at 50% of its maximum tolerated dose in combination with escalating doses of aldoxorubicin to determine the maximum tolerated dose of the combination of these two drugs in this patient population.

In June, CytRx reported results for a Phase 1b/2 clinical trial indicating that aldoxorubicin administered at its maximum tolerated dose showed clinical benefit (defined as partial response and stable disease of more than four months following up to eight cycles of treatment) in 10 of 13 (77%) evaluable patients with relapsed or refractory soft tissue sarcoma. All patients in the Phase 1b/2 trial had either not responded to or relapsed after treatment with between one and three prior chemotherapy regimens. Based on the results of this trial CytRx plans to meet with the FDA in the second half of 2012 to discuss a potential Phase 3 pivotal trial as a therapy for patients with soft tissue sarcomas whose tumors have progressed following treatment with chemotherapy.

“We are delighted that such a distinguished sarcoma expert as Dr. Chawla has agreed to serve as principal investigator for yet another trial with aldoxorubicin,” said CytRx CEO Steven A. Kriegsman. “Dr. Chawla led our Phase 1b/2 clinical trial with aldoxorubicin in patients with advanced solid tumors and presented clinical results from this trial at the American Society of Clinical Oncology (ASCO) conference last month. He also is leading our global Phase 2b clinical trial designed to compare aldoxorubicin head-to-head with doxorubicin as a first-line treatment for patients with advanced soft tissue sarcoma. Enrollment completion and data analysis are expected for this trial in 2013.”

About CytRx Corporation

CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The CytRx oncology pipeline includes three programs in clinical development for cancer indications: aldoxorubicin (formerly known as INNO-206), tamibarotene and bafetinib. With its tumor-targeted doxorubicin conjugate aldoxorubicin, CytRx has initiated an international Phase 2b clinical trial as a treatment for soft tissue sarcomas, has completed its Phase 1b/2 clinical trial primarily in the same indication, recently initiated a Phase 2 trial for patients with advanced pancreatic ductual adenocarcinomas, and plans to meet with the FDA in the second half of 2012 to discuss a potential Phase 3 pivotal trial as a therapy for patients with soft tissue sarcomas whose tumors have progressed following treatment with chemotherapy. CytRx’s pipeline also includes tamibarotene, which it is testing in a double-blind, placebo-controlled, international Phase 2b clinical trial in patients with non-small-cell lung cancer, and which is in a Phase 2 clinical trial as a treatment for acute promyelocytic leukemia (APL). The Company completed its evaluation of bafetinib in the ENABLE Phase 2 clinical trial in high-risk B-cell chronic lymphocytic leukemia (B-CLL), and plans to seek a partner for further development of bafetinib. For more information about the Company, visit www.cytrx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including the risk that any human testing of aldoxorubicin in combination with doxorubicin as a therapy for cancer, including the Phase 1b maximum tolerated dose study described in this press release, might not produce positive results or results similar to those seen in preclinical studies, risks and uncertainties related to the outcome, timing and results of CytRx’s other ongoing and planned clinical trials with aldoxorubicin, the risk that aldoxorubicin alone, or in combination with free doxorubicin, might not show greater efficacy than doxorubicin alone notwithstanding the administration of higher doses than the standard of care, the risk that additional longer-term dosing of aldoxorubicin might cause adverse events not seen to date, uncertainties regarding whether aldoxorubicin effectively targets doxorubicin to tumors, uncertainties regarding regulatory approvals for current and future clinical testing of aldoxorubicin and the scope of the clinical testing that may eventually be required by regulatory authorities for aldoxorubicin, the significant time and expense that will be incurred in developing any of the potential commercial applications for aldoxorubicin, including for soft tissue sarcomas, risks related to CytRx’s ability to manufacture its drug candidates, including aldoxorubicin, in a timely fashion, cost-effectively or in commercial quantities in compliance with stringent regulatory requirements, risks related to CytRx’s need for additional capital or strategic partnerships to fund its ongoing working capital needs and development efforts, including any future clinical development of aldoxorubicin, and the risks and uncertainties described in the most recent annual and quarterly reports filed by CytRx with the Securities and Exchange Commission and current reports filed since the date of CytRx’s most recent annual report. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Chyron (CHYR) to Provide 10 HyperX3.1 Graphics Systems for NBC Olympics’ Coverage

NEW YORK, NY — (Marketwire) — 07/24/12 — Chyron (NASDAQ: CHYR) will provide 10 HyperX3.1 on-air graphics playout systems to NBC Olympics during its production of the 2012 London Olympic Games, July 27-August 12, 2012. The announcement was made today by Philip Paully, Director, Graphics Engineering and Operations, NBC Olympics, and Peter Morrone, Senior Vice President, Product Engineering, Chyron.

“In our operation, there’s no room for error, and every second counts. The centralized asset storage capability powered by Chyron’s HyperX3.1 and Apple®’s Xsan 2 is a tremendous time-saver, enabling our operators to instantly access media assets that were once only available to the Mac® systems,” Paully said.

Relying on Chyron’s HyperX3.1 and Apple’s Xsan 2 storage area network, this collaborative workflow environment promises to bring powerful new efficiencies and time savings to the NBC Olympics’ graphics production team as they insert graphics displays for the network’s live coverage of the London Games.

NBC Olympics worked closely with Chyron and Dynamic Performance Technologies to integrate this powerful graphics workflow solution. After building graphics elements in Adobe® Creative Suite®, the NBC Olympics production team is able to move them seamlessly to editing suites and then to devices for playout to air. Since HyperX3.1 supports Adobe’s XMP metadata platform, artists are able to embed critical information about each graphical element, for instance, the correctly spelled name, age, and home country embedded in a specific athlete’s head shot.

The finished graphics can then be instantly accessed by the HyperX3.1 operators by clicking a folder from their workstations, a capability that previously was only possible by searching for the assets on a server and then downloading them into the playout system. Any changes to image metadata need only be made once, and the metadata fields are automatically populated at every point at which the graphic will be used. When the graphic is inserted into the programming, the accompanying metadata is automatically extracted and displayed, so NBC Olympics’ production staff no longer needs to worry if names are spelled correctly and information about the graphic is accurate.

“This summer’s London Olympic Games promise to be a record-breaker, with more than 3,500 hours of broadcast content over a 19-day period from more than a dozen different sports venues. Since much of this programming will be produced live, accuracy and efficiency is critical to success,” Morrone said. “We are honored to provide NBC Olympics with state-of-the-art HyperX3.1 graphics playout systems integrated with Adobe’s XMP and Apple’s Xsan 2 for their production of the London Olympics.”

About NBC Olympics:
A division of the NBC Sports Group, NBC Olympics is responsible for producing, programming and promoting NBCUniversal’s Olympic coverage. It is renowned for its unsurpassed Olympic heritage, award-winning production, and ability to aggregate the largest audiences in U.S. television history.

Having produced every Summer Olympics since Seoul in 1988 and every Winter Olympics since Salt Lake City in 2002, the networks of NBCUniversal are synonymous with the Games in the United States. In 2011, NBCUniversal acquired the U.S. media rights on all platforms to the 2014 Sochi Winter Olympics, the 2016 Rio Summer Olympics, the 2018 Pyeongchang Winter Olympics, and the 2020 Summer Olympics. At the conclusion of the 2020 Games, NBCUniversal will have presented 17 total Olympic Games and 11 consecutive, the most for a U.S. media company in both categories.

NBC has won an unprecedented 91 Emmy Awards for its Olympics coverage, as well as a prestigious Peabody Award for its presentation of the Beijing Opening Ceremony in 2008, which USA Today said was “the best overall Olympic experience ever provided by a U.S. network.”

In addition to its unsurpassed heritage and award-winning production, NBCUniversal is known for aggregating large Olympic audiences, as nine of the top 11 most-watched U.S. television events of all time are Olympic Games presented across the networks of NBCUniversal. The Beijing Summer Olympics rank No. 1 with 215 million viewers.

About Chyron
Chyron (NASDAQ: CHYR) is a leading provider of Graphics as a Service for on-air and digital video applications including newsrooms, studios, sports broadcasting facilities, and corporate video environments. An Emmy® Award-winning company whose products have defined the world of digital and broadcast graphics, Chyron’s graphics solutions include the Axis World Graphics online content creation software and order management system, on-air graphics systems, clip servers, channel branding, and graphics asset management solutions, all of which may be incorporated into the company’s BlueNet™ end-to-end graphics workflow. More information about Chyron products and services is available on the company websites: www.chyron.com and www.axisgraphics.tv. The company’s investor relations information is at www.chyron.com via the “Investors” link.

Blog: http://chyronchat.com
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Chyron Contact:
Allyson Patanella
PR/Marketing Coordinator
Tel: +1 (631) 845-2102
Email: Email Contact

Agency Contact:
Sarah Schraad Wall Street Communications
Tel: +1 (303) 567-4048

Nanosphere (NSPH) Announces Exercise of Over-Allotment and Closing of Common Stock Offering

NORTHBROOK, Ill., July 24, 2012 (GLOBE NEWSWIRE) — Nanosphere, Inc. (the “Company”) (Nasdaq:NSPH), a leader in the development and commercialization of advanced molecular diagnostics systems, today announced the closing of its previously announced underwritten public offering of 12,075,000 shares of its common stock at a public offering price of $2.40 per share, including 1,575,000 shares of common stock issued pursuant to the underwriters’ exercise in full of their over-allotment option, resulting in gross proceeds of approximately $29.0 million. Piper Jaffray & Co. acted as the sole book-running manager and Roth Capital Partners acted as co-manager for the offering.

Net proceeds from the sale of the shares after underwriting discounts and commissions and other offering expenses are expected to be approximately $26.9 million. The Company plans to use the net proceeds from the offering for general corporate purposes and working capital.

The offering was made pursuant to a prospectus supplement to the Company’s prospectus, dated September 15, 2009, filed as part of the Company’s effective $100 million shelf registration statement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Copies of the final prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402 or by telephone at 800-747-3924 or by email at prospectus@pjc.com.

About Nanosphere, Inc.

Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene® System, for detection of life threatening infections and cardiovascular diseases. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL. Additional information is available at http://www.nanosphere.us.

The Nanosphere, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4344

Except for historical information, the matters discussed in this press release are “forward-looking statements” and are subject to risks and uncertainties. Actual results could differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (i) Nanosphere’s ability to develop commercially viable products; (ii) Nanosphere’s ability to achieve profitability; (iii) Nanosphere’s ability to produce and market its products; (iv) Nanosphere’s ability to obtain regulatory approval of its products; (v) Nanosphere’s ability to protect its intellectual property; (vi) competition and alternative technologies; and (vii) Nanosphere’s ability to obtain additional financing to support its operations. Additional risks are discussed in the Company’s current filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The forward-looking statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACT: Investors:
         Nanosphere, Inc.
         Roger Moody, 847-400-9021
         Chief Financial Officer
         rmoody@nanosphere.us

         or

         Media
         The Torrenzano Group
         Ed Orgon, 212-681-1700
         ed@torrenzano.com

StemCells (STEM) and Keryx Biopharmaceuticals Showing Strong Gains as Biotech Soars in 2012

NEW YORK, NY — (Marketwire) — 07/24/12 — The Biotechnology Industry has been soaring in 2012 as companies — both large and small — have shown impressive growth. The SPDR S&P Biotech ETF (XBI) and the First Trust NYSE Arca Biotech Index ETF (FBT) year-to-date are up 38 percent and 37 percent, respectively, outperforming the broader market by a wide margin. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on StemCells, Inc. (NASDAQ: STEM) and Keryx Biopharmaceuticals (NASDAQ: KERX).

Access to the full company reports can be found at:

www.ParagonReport.com/STEM
www.ParagonReport.com/KERX

Despite having to negotiate a more challenging regulation process biotech companies have continued to show investors strong gains in 2012. The FDA Amendments Act of 2007 forced regulators to increase standards for approvals of new drugs, introducing mandatory risk evaluation and mitigation strategies. According to a Pharmaceuticals & Biotechnology report from IMAP, several pharmaceutical firms have altered their drug portfolios from primary care driven blockbusters towards specialties such as oncology, immunology and inflammation, where the medical need is “so high that prices are more easily accepted by the regulators.”

Paragon Report releases regular market updates on the Biotechnology Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.

StemCells is engaged in the research, development, and commercialization of cell-based therapeutics and tools for use in stem cell-based research and drug discovery. The company recently announced preclinical data demonstrating that its proprietary human neural stem cells restored memory and enhanced synaptic function in two animal models relevant to Alzheimer’s disease. Shares of the company have soared nearly 90 percent this year.

Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of renal disease. Keryx is developing Zerenex (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. Shares of the company have rebounded nearly 50 percent over the last three months.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.paragonreport.com/disclaimer

Frozen Food Express Industries (FFEX) Announces Profit in Q2 FY12

Strategic Initiatives on Track; Restores Profitability

DALLAS, July 24, 2012 (GLOBE NEWSWIRE) — Frozen Food Express Industries, Inc. (Nasdaq:FFEX) today announced its financial and operating results for the quarter ended June 30, 2012. Highlights of second quarter of 2012 financial results include:

• Income from operations of $1.6 million compared to a loss of $3.8 million in the same period of 2011.
• Net income of $1.1 million compared to a loss of $3.3 million in the same period of 2011.
• Total operating revenue decreased 5.6% to $95.7 million, primarily due to the exit from the dedicated dry van services business.
• Total operating revenue, net of fuel surcharges, decreased 2.9% to $76.3 million.
• Revenue per truck per week increased 6.7% to $3,559 compared to $3,335 in the same period of 2011.
• Net income per share of diluted common stock was $0.06, compared to a net loss per diluted common share of $0.19 in the same period of 2011.

“Excluding fuel surcharge revenue and the revenue contribution from dedicated dry van services, a business which we exited last year, we experienced a 5.7% revenue growth benefiting from both higher yields and pricing in our refrigerated services and the impact of the new water services revenue on our logistics services,” said Russell Stubbs, the Company’s President and Chief Executive Officer. “Our LTL business continues to benefit from improved demand and pricing, producing 7.5% growth, the best second quarter performance in five years.”

During the second quarter of 2012, total operating expenses decreased $10.9 million, or 10.4%, to $94.1 million compared to $105.1 million during the second quarter of 2011, which yielded an operating ratio of 98.4 compared to a 103.7 for the same period in 2011. Fuel costs decreased $5.6 million and represented approximately half of the year-over-year cost savings. The reduction in fuel costs was related to fewer trucks in service, lower fuel prices, and increased fuel economy from a younger fleet.  Excluding fuel costs, operating costs decreased 6.7%, driven by decreases in deprecation, salaries and wages, as well as reduced maintenance costs.  Net of the impact of fuel on revenue and expenses, the company generated an operating ratio of 97.4 in the second quarter of 2012, compared to a 101.4 in the second quarter of 2011.

For the six months ended June 30, 2012, total operating revenue decreased 5.1%, or $9.8 million, to $183.6 million compared to $193.4 million in the same period of 2011. Total operating revenue, excluding fuel surcharges, decreased 3.7% to $146.5 million from $152.1 million during the same period a year ago. Net loss for the six months ended June 30, 2012 was $4.6 million, compared to a net loss of $11.2 million in the same period of 2011. In the first six months of 2012, on a per share basis, the net loss equated to $0.26 per diluted share compared to a net loss of $0.64 per diluted share in the same period of 2011.

Strategic Plan Update

Updates on the key elements of its strategic plan to restore profitability during fiscal 2012 include:

• Exit low margin/ low return businesses – During the fourth quarter of 2011, the Company completed the sale of 415 dry van trailers and 228 tractors and no longer provides dry van services via a dedicated fleet of dry van trailers.  This action removed a line of lower margin services, and lowered the average age of the fleet to 2.1 years during the first six months of 2012 from 2.8 years during the same period last year. As a result, during the first six months of 2012, tractor maintenance expense was in line with our plan and fuel economy improved by approximately 5 percent.

• Reinvest in growth businesses – The Company began providing bulk tank water transportation services for the crude oil drilling industry during the fourth quarter of 2011. “We are pleased with the results we are obtaining from this operation,” said Mr. Stubbs, “After a slow start in the first quarter we are on track to achieve the earnings contribution goals set in our plan for this year.”

• Improve operating efficiencies – Non-driver employee headcount at the end of the second quarter was 681, a 4.9% reduction from the same period a year ago. The Company is on track to realize annualized cost savings of approximately $5 million as the result of its previously announced reduction in non-driver staffing levels.

• Improve yields in core temperature controlled business – The Company believes market conditions are improving in the Company’s core refrigerated truckload (TL) and less-than-truckload (LTL) shipping markets. As a result, revenue per loaded mile has increased 7.0% during the first six months of 2012 and LTL shipments and revenue per hundredweight increased 8.4% and 4.7%, respectively.

Outlook

The Company expects that quarterly results will continue to improve throughout the year.   In addition, capital expenditures are not expected to exceed $1.0 million, net of proceeds from disposition, and cash flows are expected to remain positive throughout the balance of fiscal 2012. “The strategic initiatives that we have implemented are on track and yielding positive results. We have posted our first quarter of profitability since the economic recession began and are well positioned to build on the progress we have made. Given the higher fixed cost nature of the LTL business, incremental contribution from even modest improvements in revenue can have a significant impact on our profitability and returns, which is evident in our improving results. Combined with a growing contribution from our water transportation business, we are on track to restore the Company to profitability this year,” said Russell Stubbs.

Conference Call

The Company plans to host a conference call on Monday, July 30, 2012 at 5:00 PM Eastern Time (4:00 PM Central Time) to discuss its financial results for the first half of 2012 and review its strategic plan for returning to profitability. Parties interested in participating in the conference call may dial-in at (866) 757-6808. The conference call will be webcast and can be accessed at www.ffex.net.

About FFEX

Frozen Food Express Industries, Inc. is one of the leading temperature-controlled truckload and less-than-truckload carriers in the United States with core operations in the transport of temperature-controlled products and perishable goods including food, health care and confectionery products. Service is offered in over-the-road and intermodal modes for temperature-controlled truckload and less-than-truckload, as well as dry truckload on a non-dedicated fleet basis. We also provide bulk tank water transportation, brokerage/logistics and dedicated services to our customers. Additional information about Frozen Food Express Industries, Inc. can be found at http://www.ffeinc.com. To join our email alert list, please click on the following link: http://financials.ffex.net/alerts.cfm. The Company’s common stock is traded on the Nasdaq Global Select market under the symbol FFEX.

The Frozen Food Express Industries, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3209

Forward-Looking Statements

This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements relating to plans, strategies, objectives, expectations, intentions, and adequacy of resources, and may be identified by words such as “will”, “could”, “should”, “believe”, “expect”, “intend”, “plan”, “schedule”, “estimate”, “project”, and similar expressions. Those statements are based on current expectations and are subject to uncertainty and change. Although our management believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Should one or more of the risks or uncertainties underlying such expectations not materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. Among the key factors that are not within our management’s control and that may cause actual results to differ materially from those projected in such forward-looking statements are demand for the Company’s services and products, and its ability to meet that demand, which may be affected by, among other things, competition, weather conditions and the general economy, the availability and cost of labor and owner-operators, the ability to negotiate favorably with lenders and lessors, the continued growth of hydraulic fracturing techniques for oil and gas drilling in West Texas, the effects of terrorism and war, the availability and cost of equipment, fuel and supplies, the market for previously-owned equipment, the impact of changes in the tax and regulatory environment in which the Company operates, operational risks and insurance, risks associated with the technologies and systems used and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Given the volatility in fuel prices and the impact fuel surcharge revenues have on total operating revenues, we often make reference to total operating revenue excluding fuel surcharges to provide a more consistent basis for comparison of operating revenue without the impact of fluctuating fuel prices. Readers should review and consider these factors along with the various disclosures by the Company in its press releases, stockholder reports and filings with the Securities and Exchange Commission. The Company does not assume, and specifically disclaims, any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.

The following table summarizes and compares the significant components of revenue and presents our operating ratio and revenue per truck per week for each of the three and six month periods ended June 30:

The following table summarizes and compares selected statistical data relating to our freight operations for each of the three and six month periods ended June 30:

The following table summarizes and compares the makeup of our fleets between company-provided tractors and tractors provided by owner-operators as of June 30:

CONTACT: Frozen Food Express Industries, Inc.

         Russell Stubbs, President and CEO
         John Hickerson, EVP and COO
         John McManama, SVP and CFO
         (214) 630-8090
         Dave Mossberg, Investor Relations
         Three Part Advisors, LLC
         817 310-0051

Ultrapetrol (ULTR) Completes the Sale of 14 Barges and Provides Business Update

Adjusted EBITDA for 2012 to be Between $60.0 and $66.0 million

NASSAU, Bahamas, July 24, 2012 (GLOBE NEWSWIRE) — Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR) (the “Company”), an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), today announced the sale of a further 14 wet and dry barges to a third party in Colombia. The barges are scheduled for delivery starting at the end of 2012 and extending through the second quarter of 2013. This sale will provide the Company with proceeds of $20.3 million, of which 50% will be advanced by the buyer. With this sale, the yard is fully employed until the end of the first quarter of 2013.

In addition, the Company provided a brief update on its operations and EBITDA expectations for the remainder of the year. In the River Business, levels in the High Paraguay River have recovered and it is currently expected that iron ore shipments will continue as normal until October 2012.

In the Offshore Supply Business, the first newbuilding from a shipyard in India, the UP Jade, is arriving in Rio de Janeiro, Brazil next Friday, July 27, 2012 and will be delivered to Petrobras on a four year charter at a rate of $33,000 per day. As previously announced, the Company is currently under firm negotiations with Petrobras to renew the contracts for three of its PSV’s that expire in 2012, each for four year periods at increased rates. These new contracts are expected to generate a combined increase in earnings of approximately $8.0 million per year.

The Company expects 2012 adjusted EBITDA to be between $60.0 and $66.0 million (including the EBITDA resulting from the firm sale of 24 barges which will be built for a third party and that will be leased to the Company as previously reported).

About Ultrapetrol

Ultrapetrol is an industrial transportation company serving the marine transportation needs of its clients in the markets on which it focuses. It serves the shipping markets for containers, grain and soya bean products, forest products, minerals, crude oil, petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels. More information on Ultrapetrol can be found at www.ultrapetrol.net.

The Ultrapetrol (Bahamas) Limited logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3164.

Forward-Looking Statements

Our disclosure and analysis in this release concerning our operations, cash flows and financial position, including, in particular, the likelihood of our success in developing and expanding our business, include forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “projects,” “forecasts,” “will,” “may,” “should,” and similar expressions are forward-looking statements. Although these statements are based upon assumptions we believe to be reasonable based upon available information, including projections of revenues, operating margins, earnings, cash flow, working capital, and capital expenditures, they are subject to risks and uncertainties. These forward-looking statements represent our estimates and assumptions only as of the date of this release and are not intended to give any assurance as to future results. As a result, you should not place undue reliance on any forward-looking statements. We assume no obligation to update any forward-looking statements to reflect actual results, changes in assumptions or changes in other factors, except as required by applicable securities laws.

ULTR-G

CONTACT: The IGB Group
         Leon Berman
         212-477-8438
         lberman@igbir.com
         or
         David Burke
         646-673-9701
         dburke@igbir.com

Kandi Vehicle (KNDI) to Expand Into Shandong Market

JINHUA, CHINA — (Marketwire) — 07/23/12 — Kandi Technology Corp. (the ‘Company’ or ‘Kandi’) (NASDAQ: KNDI), a leading Chinese manufacturer and developer of pure electric vehicles (EVs) and all-terrain vehicles (ATVs), today announced that the Company’s wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. (“Kandi Vehicles”), has signed a framework agreement with the government of Weifang Binhai Economic Development Zone (“Weifang Development Zone”) in Wei Fang City of Shandong Province, under which Kandi Vehicles intends to invest and establish a project company in the development zone that will have a capacity annually to produce key components and parts for 100,000 EVs (the “Project”).

Shandong is the first province in China that commercialized EV and has the biggest EV market in China. Weifang Development Zone (http://www.wfbinhai.gov.cn) is a national level economic and technology development zone and a key automotive industry base approved by the National Development and Reform Commission. It is also the National Priority Area in Shandong Peninsula Blue Economic Zone and the Yellow River Delta Efficient Eco-economic Zone.

In order to gain market position for Kandi EVs in Shandong province and receive the support from the local government, upon the invitation of Weifang Development Zone, Kandi Vehicles has discussed and executed the framework agreement with Weifang Development Zone on July 13, 2012 after extensive discussion and negotiation between the parties. The main provisions of the framework agreement are as follows:

1. The Project is invested by Kandi Vehicles. The annual revenue of the Project is expected to be approximately RMB3 billion when it reaches its full capacity.

2. Weifang Development Zone will nominate the Project as one of the key projects to be supported in Shandong Province and will try to receive support for this Project under the provincial government’s preferential policies.

3. Weifang Development Zone agrees to provide Kandi Vehicles 500 mu (approximately 333,300 square meters) construction land for project use at a favorable price.

4. Upon the completion of the Project, Weifang Development Zone will work actively to gain national, provincial and municipal supportive policies for the EV industry, and fully promote the use and acceptance of Kandi EVs in Shandong province. In principle, the government will have a special supportive policy for no less than 20,000 EVs every year.

5. The Project will receive local government tax incentive and preferential treatment.

6. The entire project is expected to be completed within 2 years as soon as Kandi Vehicles obtains the land-use right.

Mr. Xiaoming Hu, Chairman and the Chief Executive Officer of Kandi, commented, “Shandong provincial government’s strong support is essential for Kandi to enter into the EV market in Shandong province. The practice is that local governments have various supporting policies for local companies, therefore the cooperation with Weifang Development Zone to establish a local project company will provide a firm foundation for Kandi to become the leader in the EV market in China. In the meantime, Kandi has full confidence that it will achieve success in the EV market in Shandong.”

About Kandi Technologies, Corp.

Kandi Technologies, Corp. (KNDI) is a manufacturer and exporter of a variety of vehicles in China, making it a world leader in the production of popular off-road vehicles (ORVs). It also ranks among the leading manufacturers in China of all-terrain vehicles (ATVs), specialized utility vehicles (UTVs), and a recently introduced second-generation high mileage, two-seat three-wheeled motorcycle. Another major company focus has been on the manufacture and sale of the COCO electric vehicle (EV), a highly economical, beautifully designed, all-electric super mini-car for neighborhood driving and commuting. The convertible and hardtop models of the COCO EV are available in the United States and other countries, while the Chinese government has approved the sale of Kandi EVs in China since 2010. More information can be viewed at its corporate website is http://www.chinakandi.com.

Safe Harbor Statement

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

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2045899

Company Contact:
China
Email: IR@kandigroup.com
Phone: 86-579-82239856

U.S.A.
Email: IR@kandigroup.com

United Security Bancshares (UBFO) – Net Income $2.2 million during the Second Quarter