LTX-Credence (LTXC) Announces Third Quarter Results

MILPITAS, Calif., May 25, 2011 (GLOBE NEWSWIRE) — LTX-Credence Corporation (Nasdaq:LTXC), a global provider of focused, cost-optimized ATE solutions, today announced financial results for its fiscal quarter ended April 30, 2011.

Sales for the quarter were $58,665,000, compared to the prior quarter sales of $52,549,000. Net income for the quarter was $23,621,000, or $0.47 per diluted share on a GAAP basis. Excluding the $15,000,000 merger-related break-up fee, $1,900,000 of merger-related expenses, $248,000 of restructuring expense and $1,490,000 of amortization of purchased intangible assets, net income for the quarter was $12,259,000, or $0.24 per diluted share on a non-GAAP basis.

Dave Tacelli, chief executive officer and president, commented, “Our third quarter product revenues grew 16% sequentially, driven by a rebound in the RF power amplifier, power management and applications specific market segments. In particular, we experienced a sharp ramp in demand for the PAx test system which was introduced in the prior quarter.

With the continued strong performance resulting from our business model, we are focused on driving top line growth through market share gains. During the quarter we had success in winning business from multiple new customers, effectively displacing the established incumbent competitor. These wins were in several of our target market segments and were the result of our ability to deliver compelling cost effective test solutions to our customers.

Our fourth quarter guidance reflects increased strength in our target markets as well as overall growth in the SoC test industry. The midpoint of revenue guidance represents approximately 11% growth over our third quarter results.”

Fourth Quarter Fiscal 2011 Outlook

For the fiscal quarter ending July 31, 2011, revenue is expected to be in the range of $63 million to $67 million. Non-GAAP net income is expected to be in the range of $0.25 to $0.29 per share, assuming 50.5 million fully diluted shares outstanding. The non-GAAP net income guidance excludes amortization of purchased intangible assets of approximately $1.5 million.

The Company will conduct a conference call today, May 25, 2011, at 10:00 AM EDT to discuss this release. The conference call may be accessed via telephone by dialing 877.853.5334. The conference call will also be simulcast via the LTX-Credence web site (www.ltxc.com). Audio replays of the call can be heard through June 24, 2011 via telephone by dialing 800.642.1687, Conference ID number 63925313 or by visiting our web site at www.ltxc.com.

Information About Non-GAAP Measures

LTX-Credence supplements its GAAP financial results by providing non-GAAP measures to evaluate the operating performance of the Company. Non-GAAP net income for the quarter ended April 30, 2011 excludes the merger-related break-up fee; merger-related expenses, restructuring expense and amortization of purchased intangible assets. Management finds these non-GAAP measures to be useful for internal comparison to historical operating results as well as to the operating results of its competitors, and believes that this information is useful to investors for the same purposes. A reconciliation between the Company’s GAAP and non-GAAP results is provided in the attached tables. Readers are reminded that non-GAAP information is merely a supplement to, and not a replacement for, GAAP financial measures.

Safe Harbor for Forward-Looking Statements

Statements in this release regarding guidance for LTX-Credence’s fourth fiscal quarter, including the financial guidance on revenue and earnings or loss per share, financial operating results including net income or loss and earnings or loss per share, management’s expectations as to the future condition of LTX-Credence’s industry and the overall economic environment, and any other statements about management’s future expectations, beliefs, goals, plans or prospects constitute forward‑looking statements within the meaning of the United States securities laws, including the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “believes,” “targets”, “anticipates,” “plans,” “expects,” “may,” “will,” “would,” “intends,” “estimates” and similar expressions) should also be considered to be forward‑looking statements. These statements are subject to known and unknown risks and uncertainties that could cause actual results or events to differ materially from those stated or implied, including but not limited to: uncertain global economic and industry conditions, fluctuations in business and consumer spending; fluctuations in our sales and operating results; risks related to the timely development of new products, options and software applications, as well as the other risks described in our filings with the U.S. Securities and Exchange Commission, including those included under the heading “Business Risks” in our Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2011. LTX-Credence disclaims any intention or obligation to update any forward‑looking statements as a result of developments occurring after the date of this press release.

About LTX-Credence Corporation

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

LTX-Credence and LTXC are trademarks of LTX-Credence Corporation. All other trademarks are the property of their respective owners.

CONTACT: Rich Yerganian, LTX-Credence Corporation
         Tel. 781.467.5063
         Email rich_yerganian@ltxc.com

Quantum (QTWW) Receives Fleet Contract from Dow Chemical (DOW)

IRVINE, Calif., May 25, 2011 /PRNewswire/ — Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW) announced today that it has received a contract to deliver 100+ plug-in hybrid electric (PHEV) pickup truck fleet vehicles powered by Dow Kokam lithium ion battery technology to The Dow Chemical Company (NYSE: DOW).

Quantum developed the new hybrid drive system “Quantum F-Drive” specifically for the Ford F-150 pickup truck, one of the highest volume selling fleet vehicles in America. Quantum’s research and development group designed the system to meet the demanding truck applications of America’s largest fleet operators and to provide a mission-ready solution to meet President Barack Obama’s goal of converting the Federal government’s vehicle fleet to hybrids, electric vehicles and other alternative-fuel vehicles.

“Quantum is proud to be partnering with The Dow Chemical Company to launch the PHEV F-150 truck,” said Alan Niedzwiecki, President and CEO of Quantum Technologies. “We are excited and impressed by Dow’s progressive thinking, environmental stewardship and willingness to lead.”

“Dow is a recognized leader in sustainability, as demonstrated by our 2015 Sustainability Goals to reduce energy consumption and emissions, as well as in our mission to passionately innovate what is essential to human progress by providing sustainable solutions… like solar shingles and battery components for electric and hybrid-electric vehicles,” said Dave Kepler, Dow’s executive vice president, Business Services and Chief Sustainability Officer. “By converting approximately 5 percent of our U.S. truck fleet to PHEV battery technology, we are driving the adoption of energy alternatives beyond existing boundaries while we work to reduce emissions and dependence on fossil fuel for fleet operations.”

F-150 PHEV Technical Specifications

The F-Drive system provides a unique combination of low operating costs through substantially increased fuel efficiency, reliability, low maintenance cost, emission reduction benefits and extended range capability. Ideal for fleet vehicle driving characteristics, the F-150 PHEV has a 35 mile electric-only range, shifting to hybrid electric mode thereafter for a total range of over 400 miles.

Providing the energy and power balance required for demanding fleet applications, the 20 kWh Dow Kokam battery enables delivery of the required vehicle range in addition to speeds of up to 85 mph and 0-60 MPH acceleration in less than 12 seconds.

The F-Drive system, has been integrated in the F-150 truck such that there is no impingement into the cab or cargo bed and maintains full ground clearance. The fleet vehicles, incorporating Quantum’s F-Drive, will meet Department of Transportation Federal Motor Vehicles Safety Standards, US Environmental Protection Agency, California Air Resources Board emission requirements, and incorporate Dow Kokam Lithium Ion batteries.

“Quantum and Dow Kokam are cooperating to bring some of the first PHEV, light duty fleet vehicles to market that truly meet the performance demands and cost payback requirements of corporate fleets,” said Chuck Reardon, commercial vice president, Dow Kokam. “This is possible because Dow Kokam’s advanced battery technology and Quantum’s expert vehicle engineering are capable today of delivering the performance necessary to meet the needs of visionary companies like Dow.”

About Quantum

Quantum Fuel Systems Technologies Worldwide, Inc., (NASDAQ: QTWW) a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum’s wholly owned subsidiary, Schneider Power Inc., and affiliate Asola Advanced and Automotive Solar Systems GmbH complement Quantum’s emerging renewable energy presence through the development and ownership of wind and solar farms, and manufacture of high efficiency solar modules. Quantum’s portfolio of technologies includes electronic controls, hybrid electric drive systems, natural gas and hydrogen storage and metering systems and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and natural gas vehicles. Quantum’s powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, natural gas fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum’s customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.

About Dow Kokam

Dow Kokam brings technologically advanced and economically viable battery solutions to the transportation, defense, industrial and medical industries. Uniting Dow, Kokam America and Dassault SVE creates the first battery and energy management systems manufacturer to combine viable, scalable large-format battery technology with the market franchise, manufacturing expertise and market knowledge necessary to become the clear partner of choice across industries.

Dow Kokam was established in 2009 to develop and manufacture advanced energy storage technologies for the transportation and other industries. The company is owned by The Dow Chemical Company, TK Advanced Battery LLC and Groupe Industriel Marcel Dassault.

Forward Looking Statements:

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report, other than those that are historical, are forward-looking statements and can generally be identified by words such as “may,” “could,” “will,” “should,” “assume,” “expect,” “anticipate,” “plan,” “intend,” “believe,” “predict,” “estimate,” “forecast,” “outlook,” “potential,” or “continue,” or the negative of these terms, and other comparable terminology. Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

More information can be found about the products and services of Quantum, Dow Kokam and Schneider Power and Asola at http://www.qtww.com/, www.dowkokam.com, or you may contact:

Brion D. Tanous
Principal, CleanTech IR, Inc.
Email: btanous@cleantech-ir.com
310-541-6824

Dale Rasmussen
Quantum Technologies
206-315-8242
Email: drasmussen@qtww.com

Erik Moser
On Behalf of Dow Kokam
312-729-4395
Email: emoser@golinharris.com

©2011 Quantum Fuel Systems Technologies Worldwide, Inc.
Advanced Technology Center
17872 Cartwright Road, Irvine, CA 92614
Phone 949-399-4500 Fax 949-399-4600

PHC, Inc. (PHC) and Acadia Healthcare Announce Signing of Definitive Merger Agreement

PEABODY, Mass. and FRANKLIN, Tenn., May 24, 2011 /PRNewswire/ — PHC, Inc., d/b/a Pioneer Behavioral Health (NYSE Amex: PHC), and Acadia Healthcare Company, Inc. today announced the signing of a definitive merger agreement. Upon the completion of the merger, Acadia stockholders will own approximately 77.5% of the combined company, and PHC stockholders will own approximately 22.5% of the combined company. Acadia intends to file a registration statement on Form S-4 with the Securities and Exchange Commission in connection with the transaction. Effective with the approval of the merger, the corporate headquarters will be in Franklin, Tennessee, and the combined company will do business under the name Pioneer Behavioral Health. Acadia intends to apply for listing of the combined company’s common stock to be issued in the merger on the NASDAQ stock market. Joey Jacobs, the Chairman and Chief Executive Officer of Acadia, will become the Chairman and Chief Executive Officer of the combined company. Bruce Shear, President & CEO of PHC, will become the Executive Vice Chairman and a member of the Board of Directors of the combined company.

The merger will bring together Acadia’s 19 behavioral health facilities, which, with approximately 1,700 beds in 13 states, produce annual revenues of approximately $260 million, with PHC’s five inpatient facilities with approximately 270 beds in four states. In addition, PHC’s internet and telephonic-based referral services, which include employee assistance programs and critical incident services, provide contracted services covering more than one million individuals. PHC’s revenues for the trailing 12 months ended March 31, 2011 were $59 million. On March 16, 2011, PHC announced that it has entered into a definitive agreement to acquire MeadowWood Behavioral Health.

Joey Jacobs, Chairman & Chief Executive Officer of Acadia, commented, “This merger with PHC will represent a significant expansion of our current revenues, facilities and beds and take us into four new states. In addition, access to the public markets will position the combined company to continue acting on attractive opportunities to expand our business through acquisition in the highly fragmented behavioral health industry. The management teams of the combined company are highly experienced in completing and integrating such transactions, as well as in producing on-going organic growth within acquired facilities. Based on the continuing opportunities we see in the market, our extensive record of success and our solid financial position as a combined company, we are confident of our prospects for further growth.”

Bruce A. Shear, President & CEO of PHC, added, “We are pleased with this agreement to join forces with the Acadia team. The Acadia management team has a demonstrated record of producing high quality care for patients and their families, which aligns perfectly with our clinical mission. The combined senior management teams will further improve both companies capabilities for growth during this exciting time in our industry. In addition, this transaction will enable our stockholders to participate with a management team that has an unparalleled history of producing long-term profitable growth in the behavioral health industry. We are confident that this transaction represents a great opportunity for PHC.”

The merger agreement has been approved by the boards of directors of both companies. Consummation of the transaction is subject to various conditions, including approval of the stockholders of PHC. Certain officers and directors of PHC have executed voting agreements under which they have committed to vote their shares of PHC in favor of the transaction. The transaction is expected to be completed in late summer of 2011. The transaction will be a stock for stock exchange except for payments to PHC shareholders for fractional shares and $5 million of merger consideration payable to Class B holders of PHC’s privately held securities. We anticipate that, after refinancing existing indebtedness of both companies, payment of the merger consideration to the Class B holders, payment of a dividend to the equity holders of Acadia prior to the merger, and payment of fees and expenses relating to the transaction, the combined company will have pro forma net funded indebtedness of approximately $285 million.

In connection with the transaction, Jefferies & Company, Inc. acted as exclusive financial advisor and Arent Fox LLP acted as legal advisor to PHC. Kirkland & Ellis LLP served as legal advisor to Acadia and Jefferies Finance LLC provided financing commitments to Acadia to support the transaction.

Additional Information

In connection with the proposed transaction, Acadia will file with the Securities and Exchange Commission (“SEC”) a registration statement that contains a PHC proxy statement that also will constitute an Acadia prospectus. SHAREHOLDERS OF PHC AND OTHER INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THE PROXY STATEMENT/PROSPECTUS) REGARDING THE PROPOSED TRANSACTION WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. PHC’s shareholders and other investors will be able to obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about PHC and Acadia, without charge, at the SEC`s Internet site (http://www.sec.gov). Copies of the proxy statement/prospectus can also be obtained, without charge, by directing a request to PHC, Inc., 200 Lake Street, Suite 102, Peabody, MA 01960, Attention: Investor Relations, Telephone: (978) 536-2777. WHEN IT BECOMES AVAILABLE, READ THE JOINT PROXY STATEMENT/PROSPECTUS CAREFULLY BEFORE MAKING A DECISION CONCERNING THE MERGER.

Participants in the Solicitation

PHC and its directors and executive officers and Acadia and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of PHC in connection with the proposed transaction. Information regarding the special interests of these directors and executive officers in the merger transaction will be included in the proxy statement/prospectus of PHC and Acadia referred to above. Additional information regarding the directors and executive officers of PHC is also included in PHC’s proxy statement for its 2010 Annual Meeting of Stockholders, which was filed with the SEC on October 27, 2010. These documents are or will be available free of charge at the SEC’s web site (http://www.sec.gov) and from Investor Relations at PHC at the address described above.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About Acadia Healthcare Company

Acadia was founded by Waud Capital Partners, a leading middle-market private equity investment firm with approximately $1 billion under management. Acadia operates a network of 19 behavioral health facilities with more than 1,700 beds in 13 states. Acadia provides premier psychiatric and chemical dependency services to its patients in a variety of settings, including inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and therapeutic school-based programs.

About PHC d/b/a Pioneer Behavioral Health

PHC, Inc., d/b/a Pioneer Behavioral Health, is a national healthcare company providing behavioral health services in five states, including substance abuse treatment facilities in Utah and Virginia, and inpatient and outpatient psychiatric facilities in Michigan, Pennsylvania, and Nevada. PHC also offers internet and telephonic-based referral services that includes employee assistance programs and critical incident services. Contracted services with government agencies, national insurance companies, and major transportation and gaming companies cover more than one million individuals. Pioneer helps people gain and maintain physical, spiritual and emotional health through delivering the highest quality, most culturally responsive and compassionate behavioral health care programs and services.

Risk Factors

This news release contains forward-looking statements Generally words such as “may”, “will”, “should”, “could”, “anticipate”, “expect”, “intend”, “estimate”, “plan”, “continue”, and “believe” or the negative of or other variation on these and other similar expressions identify forward-looking statements. These forward-looking statements are made only as of the date of this news release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on current expectations and involve risks and uncertainties and our future results could differ significantly from those expressed or implied by our forward-looking statements. Such forward-looking statements include statements regarding the proposed transaction. Factors that may cause actual results to differ materially include the risk that PHC and Acadia may not be able to complete the proposed transaction, which is subject to customary closing conditions, including approval of PHC’s shareholders, risks that the businesses will not be integrated successfully, risks of disruption from the transaction and risks concerning the ability to borrow funds in amounts sufficient to enable the combined company to service its debt, and meet its working capital and capital expenditure requirements. These factors and others are more fully described in PHC’s periodic reports and other filings with the SEC.

Hanwha SolarOne (HSOL) Reports First Quarter 2011 Results

Pacira Pharmaceuticals, Inc. (PCRX) to Present at UBS Global Specialty Pharmaceuticals Conference

PARSIPPANY, N.J., May 24, 2011 /PRNewswire/ — Pacira Pharmaceuticals, Inc. (Nasdaq: PCRX), an emerging specialty pharmaceutical company, today announced that Gary Patou, M.D., chief medical officer, is scheduled to present at the UBS Global Specialty Pharmaceuticals Conference being held in London on Wednesday, May 25, 2011 at noon BST. Dr. Patou is expected to present an overview of the company.

A live audio webcast of Pacira’s presentation can be accessed by visiting the investors section of the company’s website at investor.pacira.com. A replay of the webcast will be archived on the Pacira website for two weeks following the presentation date.

About Pacira

Pacira Pharmaceuticals, Inc. is an emerging specialty pharmaceutical company focused on the development, manufacture and commercialization of novel pharmaceutical products, based on its proprietary DepoFoam drug delivery technology, for use in hospitals and ambulatory surgery centers. In December 2010, Pacira announced that its New Drug Application (NDA) for EXPAREL, the company’s most advanced investigational product candidate, had been accepted for filing by the U.S. Food and Drug Administration (FDA). The FDA has assigned a Prescription Drug User Fee Act (PDUFA) goal date of July 28, 2011 for the review of the EXPAREL NDA. EXPAREL is a bupivacaine-based product and has completed extensive Phase 3 clinical development for postoperative analgesia by infiltration. EXPAREL consists of bupivacaine encapsulated in DepoFoam, which is designed to address the limitations of widely used medications by enhancing their dosing and/or administration profile. Additional information about Pacira is available at www.pacira.com.

Contacts:

James S. Scibetta
Chief Financial Officer
Pacira Pharmaceuticals, Inc.
(973) 254-3570

Jennifer Beugelmans
Vice President, Investor Relations
Pure Communications, Inc.
(646) 596-7473

FPIC Insurance Group, Inc. (FPIC) to be Acquired by The Doctors Company

May 24, 2011 (Business Wire) — FPIC Insurance Group, Inc. (“FPIC”) (NASDAQ: FPIC), a leading provider of medical professional liability insurance for physicians, dentists, and other healthcare providers, and The Doctors Company, the nation’s largest insurer of physician and surgeon medical professional liability, today announced that they have entered into a definitive agreement pursuant to which The Doctors Company will acquire FPIC for $42.00 per share in cash, representing an aggregate purchase price of approximately $362 million. The $42.00 per share price represents a premium of approximately 31 percent over the $32.10 per share closing price of FPIC on May 23, 2011, the last trading day prior to today’s announcement.

John R. Byers, President and Chief Executive Officer of FPIC, stated, “This transaction will deliver significant value to our shareholders and place our organization with one of the largest and most respected medical professional liability insurance organizations in the nation. I would like to thank our employees, customers and business partners for their dedication and support to FPIC. They are the driving force behind our organization’s success.”

Kenneth M. Kirschner, Chairman of the Board of FPIC, further commented, “We are pleased to have found a strategic, well-respected partner in The Doctors Company, which shares our steadfast commitment to providing exceptional service to our policyholders and is committed to the long-term success of the medical professional liability insurance industry. We believe this transaction will benefit our policyholders while rewarding our shareholders for their investment in FPIC.”

“We are pleased to announce this partnership between our two physician-founded companies. We look forward to welcoming FPIC’s 18,000 insureds to The Doctors Company. Together, we will have increased financial strength and be in an even better position to fulfill our relentless commitment to advance, protect, and reward the practice of good medicine,” said Richard E. Anderson, MD, FACP, Chairman and CEO of The Doctors Company. “All our members will continue to receive aggressive claims defense, unmatched legislative and patient safety advocacy, outstanding service, and industry-leading member benefits.”

With this merger, The Doctors Company further enhances its position as the nation’s leading insurer of physician and surgeon medical liability with over 70,000 members.

The Board of Directors of FPIC has unanimously approved the transaction and has resolved to recommend that its shareholders approve the Merger Agreement. The transaction is expected to close by the fourth quarter of 2011 and is subject to customary closing conditions, including the receipt of regulatory approvals and approval by the holders of a majority of the outstanding shares of FPIC common stock.

Sandler O’Neill + Partners, L.P. acted as the financial advisor to FPIC and Weil, Gotshal & Manges LLP provided legal advice. Sandler O’Neill + Partners, L.P. provided a fairness opinion to the Board of Directors of FPIC in connection with the transaction. Macquarie Capital acted as the financial advisor to The Doctors Company and Farella Braun + Martel LLP provided legal advice.

About FPIC Insurance Group, Inc.

FPIC Insurance Group, Inc., through its subsidiary companies, is a leading provider of medical professional liability insurance for physicians, dentists, and other healthcare providers with over 18,000 policyholders, an A- rating by A.M. Best Company and an A- rating from Fitch Ratings. FPIC is the largest provider of medical professional liability insurance in Florida, the fourth largest provider in Texas and a top five provider in Georgia and Arkansas. In all, FPIC writes medical professional liability insurance in 14 states and is licensed to write in 32 states. Further information about FPIC is available on the Internet at www.fpic.com.

About The Doctors Company

Founded by doctors for doctors in 1976, The Doctors Company (www.thedoctors.com) is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company is the nation’s largest insurer of physician and surgeon medical professional liability with nearly 55,000 member physicians, $4 billion in assets, an A rating by Fitch Ratings, and an A- rating by A.M. Best Company.

Forward-Looking Statements

This press release, as well as certain other statements made by FPIC, may constitute or contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 that reflect, when made, FPIC’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to risks and uncertainties, as well as assumptions that, if they do not materialize or prove correct, could cause results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including statements of: (a) FPIC’s plans; (b) the outcome of contingencies; (c) beliefs or expectations; and (d) assumptions underlying any of the foregoing.

Forward-looking statements may be identified by their use of forward-looking terminology, such as “believes,” “expects,” “may,” “should,” “would,” “will,” “intends,” “plans,” “estimates,” “anticipates,” “projects” and similar words or expressions. You should not place undue reliance on these forward-looking statements, which reflect management’s opinions only as of the date of this release. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic, and competitive risks and uncertainties, many of which are beyond FPIC’s control or are subject to change, actual results could be materially different.

Factors that might cause such a difference include, without limitation, the following:

• the possibility that the closing of the transaction described in this press release does not occur or is delayed, either due to the failure of closing conditions, including approval of the Company’s shareholders, the failure to obtain required regulatory approvals or other reasons; and
• risks detailed from time to time in FPIC’s public filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2010, filed with the SEC on March 9, 2011, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 filed with the SEC on May 4, 2011 and materials to be filed in connection with shareholder approval of the merger transaction.

Other factors not currently anticipated by management may also materially and adversely affect the closing of the transaction described in this press release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of their dates. FPIC undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Additional Information and Where to Find It

FPIC intends to file a proxy statement in connection with seeking shareholder approval of the proposed merger. The proxy statement will be mailed to FPIC’s shareholders, who are urged to read the proxy statement and other relevant materials when they become available because they will contain important information about the merger. Investors and security holders may obtain free copies of these documents and other documents filed with the Securities and Exchange Commission at the SEC’s Web site at www.sec.gov. In addition, investors and security holders may view the documents filed with the SEC by FPIC at the “Investor Relations” section on its corporate website at www.fpic.com.

FPIC’s officers and directors may be participants in the solicitation of proxies from FPIC shareholders with respect to the merger. Information about FPIC’s executive officers and directors, and their ownership of FPIC common stock, is set forth in the proxy statement for FPIC’s 2011 Annual Meeting of Shareholders, which was filed with the SEC on April 14, 2011. Additional information regarding the direct and indirect interests of FPIC’s executive officers and directors in the merger will be in the preliminary and definitive proxy statements regarding the merger, which will be filed with the SEC.

FPIC Insurance Group, Inc.

Chuck Divita, 904-360-3611

Chief Financial Officer

Sify Tech (SIFY) and Deutsche Telekom Sign Partnership to Deliver IP and Virtual Private Network (VPN) Services Globally

CHENNAI, India, May 24, 2011 /PRNewswire-FirstCall/ — Sify Technologies Limited(NASDAQ Global Markets: SIFY), a leader in Enterprise Network and IT Services in India with global delivery capabilities and a pioneer in consumer internet services announced today their partnership with Deutsche Telekom International Carrier Sales & Solutions (ICSS), the international wholesalearm of Deutsche Telekom.

This partnership will provide customers and partners with top-of-the-line IP and VPN services in India and Europe, by leveraging on each others investments in Submarine, Terrestrial Networks and local network reach as well as regional partnership to reach new growth markets in South Asian, Middle East & Africa markets.

Mr. Raju Vegesna, Chairman and Managing Director, Sify Technologies Limited said “SIFY is excited with this partnership with Deutsche Telekom ICSS, which will help customers in growth markets like India. This partnership with Deutsche Telekom ICSS is an endorsement of Sify’s strength in high quality IP based Network Services. The alliance will strengthen each partner’s service portfolio and market reach. SIFY- Deutsche Telekom ICSS alliance will enable SIFY to bring matured quality services to the India market and extend the same across global growth markets in South Asia, Middle East & Africa. The combination will enable seamless and quality VPN services for Indian & European carriers and enterprises as they collaborate to reach out to the international markets.”

“Sify and Deutsche Telekom ICSS have entered into a win-win partnership, not just for Sify and Deutsche Telekom but for our customers. As the market changes and our customers face complex business challenges, this alliance between the top carriers of Europe and India will bring synergies that will benefit our customers jointly, said Dr. Holger Magnussen, Head of Deutsche Telekom ICSS. “It provides both the customers of Sify and Deutsche Telekom the ability to leverage on our complementary assets in Europe and India, to provide customers with unsurpassed level of service and a wider range of products more focused and aligned to customer needs.

This partnership overall, will provide more competitiveness in the market from the combined offering of our partnership, and I am excited of the opportunities and possibilities, this alliance will bring to both of us”.

As announced earlier, SIFY’s EIG (Europe India Gateway) submarine cable capacities are ready for activation and SIFY’s exclusive partnership with GBI (Gulf Bridge International) to land their Submarine Cable System in India, is scheduled to go live in second half of 2011. This is part of a larger full fledged strategy from SIFY to interconnect the Global Growth markets and enable SIFY’s ICT services globally.

About Sify Technologies

Sify is among the largest Managed Enterprise and Consumer Internet Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 625 cities and towns in India.

A significant part of the company’s revenue is derived from Corporate Services, which include corporate connectivity, network and communications solutions, security, network management services, enterprise applications and hosting. Sify is a recognized ISO 9001:2008 certified service provider for network operations, data center operations and customer support, and for provisioning of VPNs, Internet bandwidth, VoIP solutions and integrated security solutions, and ISO / IEC 20000 – 1:2005 certified for Internet Data Center operations. Sify has also established a formidable reputation in the emerging Cloud Computing market and is today regarded as a thought leader in the domain. Sify has licenses to operate NLD (National Long Distance) and ILD (International Long Distance) services and offers VoIP back haul to long distance subscriber telephony services. The company is India’s first enterprise managed services provider to launch a Security Operations Center (SOC) to deliver managed security services. A host of blue chip customers use Sify’s corporate service offerings.

Sify also caters to global markets in the specialized domains of eLearning Services and Remote Infrastructure Management Services. The eLearning Services designs, develops and delivers state-of-the-art digital learning solutions for non-profit, for-profit organizations and governmental organizations in the fields of Information technology, engineering, environment, healthcare, education and finance. The Remote Infrastructure Management Services provides dependable and economical solutions around managed services, hosting and monitoring.

Sify Software was established with the cumulative experience gained over the last decade in infrastructure, Data centre and connectivity business. It aims to be a solutions company that provides applications and services to improve business efficiencies of its current clients and prospect client bases.

Consumer services include broadband home access and the ePort cyber cafe chain across more than 200 cities and towns in India. Very recently, Sify also introduced a whole host of services for the retail consumer on the Consumer cloud platform, thereby becoming among the first to do so in India. Sify.com, the popular consumer portal, has channels on news, entertainment, finance, sports, games and shopping. Samachar.com is the popular portal aimed at non-resident Indians around the globe. The site’s content is available in 8 Indian languages, which include Hindi, Malayalam, Telugu, Kannada and Tamil, Punjabi and Gujarati in addition to English.

For more information about Sify, visit http://www.sifycorp.com.

About Deutsche Telekom

Deutsche Telekom is one of the world’s leading integrated telecommunications companies with around 128 million mobile customers, 36 million fixed-network lines and approximately 17 million broadband lines (as of March 31, 2011). The Group provides products and services for the fixed network, mobile communications, the Internet and IPTV for consumers, and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in over 50 countries and has around 244,000 employees worldwide. The Group generated revenues of EUR 62.4 billion in the 2010 financial year – more than half of it outside Germany (as of December 31, 2010).

About Deutsche Telekom International Carrier Sales & Solutions (ICSS)

International Carrier Sales & Solutions (ICSS), an integral part of Deutsche Telekom’s International Businesses unit within the Europe organization, is the global communications enabler of the Deutsche Telekom Group and more than 700 external customers worldwide. As one of the largest carriers in the world, ICSS provides global voice communication, Internet connectivity to millions of eyeballs, and global roaming and messaging on next generation platforms, as well as smart content distribution, media exchange, and virtual carrier solutions. The international customers of ICSS experience seamless service provisioning, including global reach and the highest quality. The variety of solutions provided by ICSS is based on an expanding ultramodern infrastructure: Deutsche Telekom’s international network.

For further information, see http://www.telekom-icss.com

Forward Looking Statements

This press release contains 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. The forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Sify undertakes no duty to update any forward-looking statements.

For a discussion of the risks associated with Sify’s business, please see the discussion under the caption “Risk Factors” in the company’s Annual Report on Form 20-F for the year ended March 31, 2010, which has been filed with the United States Securities and Exchange Commission and is available by accessing the database maintained by the SEC at http://www.sec.gov and Sify’s other reports filed with the SEC.

    For further information, please contact

    Sify Technologies Limited        Grayling Investor Relations
    Mr. Pijush Das                   Ms. Truc Nguyen (ext. 418)
    Investor Relations               Mr. Christopher Chu (ext. 426)
    +91-44-2254-0777 (ext. 2703)     +1-646-284-9400
    pijush.das@sifycorp.com          truc.nguyen@grayling.com
                                     christopher.chu@grayling.com

    Mr. Praveen Krishna
    Corporate Communications
    +91 44 22540777 (extn.2055)
    praveen.krishna@sifycorp.com

American DG Energy (ADGE) Prices Offering of $2.4 Million Senior Unsecured Convertible Debentures

Ampio Pharmaceuticals, Inc. (AMPE) Completes Evaluation of Data From Phase III Clinical Trials of Zertane(tm)

Spectrum Pharmaceuticals (SPPI) Announces ZEVALIN(R) and Belinostat Abstracts to Be Presented

May 23, 2011 (Business Wire) — Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, today announced ZEVALIN^® (ibritumomab tiuxetan) and Belinostat abstracts will be presented at the 2011 Annual Meeting of the American Society of Clinical Oncology (ASCO), to be held June 3-7, 2011 at the McCormick Place Convention Center in Chicago, Illinois.

Summary abstract are now available for viewing on the ASCO website (www.asco.org).

Online Only

About Belinostat

Belinostat (PXD 101) is a Class I and II HDAC inhibitor that is being studied in multiple clinical trials as a single agent or in combination with chemotherapeutic agents for the treatment of various hematological and solid cancers. Its anticancer effect is thought to be mediated through multiple mechanisms of action, including the inhibition of cell proliferation, induction of apoptosis (programmed cell death), inhibition of angiogenesis, induction of differentiation, and the resensitization of cells that have become resistant to anticancer agents such as platinums, taxanes and topoisomerase II inhibitors. Belinostat is the only HDAC inhibitor in clinical development with multiple potential routes of administration, including intravenous administration, continuous intravenous infusion and oral administration.

Belinostat is currently in a registrational trial, the BELIEF Study, under a Special Protocol Assessment (SPA), as a monotherapy for relapsed or refractory Peripheral T-Cell Lymphoma (PTCL), an indication for which it has been granted Orphan Drug and Fast Track designations by the U.S. Food and Drug Administration. Belinostat is also under investigation in a randomized Phase 2 trial, as a combination therapy with carboplatin and paclitaxel, for cancer of unknown primary (CUP). The CUP study is being run and fully funded by our partner Topotarget A/S. Additionally, the National Cancer Institute is currently conducting several clinical trials of belinostat in a variety of hematological and solid tumors, both as monotherapy as well as combination therapy.

About ZEVALIN^® and the ZEVALIN Therapeutic Regimen

ZEVALIN (ibritumomab tiuxetan), injection for intravenous use is indicated for the treatment of patients with previously untreated follicular non-Hodgkin’s Lymphoma (NHL), who achieve a partial or complete response to first-line chemotherapy. ZEVALIN is also indicated for the treatment of patients with relapsed or refractory, low-grade or follicular B-cell non-Hodgkin’s lymphoma.

ZEVALIN is a CD20-directed radiotherapeutic antibody. The ZEVALIN therapeutic regimen consists of three components: rituximab, Indium-111 (In-111) radiolabeled ZEVALIN for imaging, and Yttrium-90 (Y-90) radiolabeled ZEVALIN for therapy. The ZEVALIN therapeutic regimen is a form of cancer therapy called radioimmunotherapy. Radioimmunotherapy (RIT) is an innovative form of cancer treatment with a mechanism of action that is different from traditional chemotherapy. RIT builds on the combined effect of a targeted biologic monoclonal antibody augmented with the therapeutic effects of a beta-emitting radioisotope.

Important ZEVALIN^® Safety Information

Deaths have occurred within 24 hours of rituximab infusion, an essential component of the ZEVALIN therapeutic regimen. These fatalities were associated with hypoxia, pulmonary infiltrates, acute respiratory distress syndrome, myocardial infarction, ventricular fibrillation, or cardiogenic shock. Most (80%) fatalities occurred with the first rituximab infusion. ZEVALIN administration results in severe and prolonged cytopenias in most patients. Severe cutaneous and mucocutaneous reactions, some fatal, can occur with the ZEVALIN therapeutic regimen.

Please see full Prescribing Information, including Boxed WARNINGS, for ZEVALIN and rituximab. Full prescribing information can be found at www.ZEVALIN.com.

About Spectrum Pharmaceuticals, Inc.

Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology. The Company’s strategy is comprised of acquiring, developing and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. The Company markets two oncology drugs, FUSILEV and ZEVALIN, and has two drugs, apaziquone and belinostat, in late stage development along with a diversified pipeline of novel drug candidates. The Company has assembled an integrated in-house scientific team, including clinical development, medical research, regulatory affairs, biostatistics and data management, formulation development, and has established a commercial infrastructure for the marketing of its drug products. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company’s website at www.sppirx.com.

Forward-looking statement – This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements are based on management’s current beliefs and expectations. These statements include but are not limited to statements that relate to our business and its future, including certain company milestones, Spectrum’s ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees, around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company’s reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.

SPECTRUM PHARMACEUTICALS, INC. ^®, ZEVALIN^®, and FUSILEV^® are registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING CANCER CARE™ and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.

^© 2011 Spectrum Pharmaceuticals, Inc. All Rights Reserved

Spectrum Pharmaceuticals, Inc.

Paul Arndt

Senior Manager, Investor Relations

702-835-6300

Identive (INVE) and NXP Sign Multi-Year Value Added Reseller Agreement

SANTA ANA, Calif. and ISMANING, Germany, May 23, 2011 (GLOBE NEWSWIRE) — Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV), a provider of products, services and solutions for the security, identification and RFID industries, today announced the signing of a Value Added Reseller (VAR) agreement with NXP Semiconductors (Nasdaq:NXPI), under which the companies will work together to identify and address emerging opportunities in the secure identification market by promoting and selling Identive’s identification products, based on NXP’s RFID semiconductor technology. The agreement is for an initial three-year term and is then renewable on an annual basis.

Under the VAR agreement, NXP and Identive will work closely to identify, jointly assess and mutually address new market opportunities for secure identification applications and technologies. The agreement builds on the existing business relationship between the two companies, which currently includes cooperation on secure identification applications such as contactless readers for government and employee ID programs, near field communications (NFC) stickers for mobile phones and smart posters, and radio frequency identification (RFID) tags for tracking assets such as pharmaceutical products or library books. The expanded cooperation will increase the span and reach of both companies, commercially and technologically, and allow the 2 companies to address new markets with complete solution offerings such as NFC in mobile consumer products, with dedicated resources at both companies.

Steve Owen, Vice President Global Business Development & Sales, Identification, NXP Semiconductors explained: “Our agreement with Identive strengthens NXP’s Identification Partner network to offer complete and ready-to-use solutions for key target markets. Identive’s strong technology base of software, reader, tag and antenna designs and its knowhow across a wide range of applications, complements NXP’s offerings and strategy. Our goal is not just to secure more sales, but to promote and expand the market for secure identification technologies by providing innovative solutions to our customers. Partnering with Identive helps us to deepen and broaden our ability to address and grow the identification market.”

“NXP is an acknowledged technology leader in identification solutions, and we are very pleased to have established this partnership and executed this VAR agreement,” stated Joseph Tassone, Executive Vice President of Technology & Product Management for Identive Group. “Our expanded relationship with NXP allows us to gain additional insight into emerging application trends in the identification market. It also provides us access to advanced NXP technology that will enable us to deliver advanced products to our customers. For example, in recent weeks NXP and Identive have recently marketed and sold the new NXP FastPay IC for a European payment solution. Identive has also implemented a testing and diagnostic solution for a pharmaceutical customer based on NXP’s new ICODE SLiXs. Having a central point of contact with NXP for all of our transponder, reader infrastructure and other businesses will also help us to identify and leverage synergies within our own organization.”

About Identive Group

Identive Group, Inc. (Nasdaq:INVE) (Frankfurt:INV) is an international technology company focused on building the world’s signature group in secure identification-based technologies. The businesses within Identive Group have deep industry expertise and are well-known global brands in their individual markets, providing leading-edge products and solutions in the areas of physical and logical access control, identity management and RFID systems to governments, commercial and industrial enterprises and consumers. Identive’s growth model is based on a combination of strong technology-driven organic growth from the businesses within the group and disciplined acquisitive development. For additional info visit: www.identive-group.com.

The Identive Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8072

CONTACT: Darby Dye
         +1 949 553-4251
         ddye@identive-group.com

         Annika Oelsner
         +49 89 9595 5220
         aoelsner@identive-group.com

Advanced Photonix, Inc. (API) to Participate at Investor Conferences

May 19, 2011 (Business Wire) — Advanced Photonix, Inc.® (NYSE Amex: API) will participate in 12^th Annual B. Riley & Co. Investor Conference in California later this month. The conference is May 23-25, 2011 at the Loews Santa Monica Beach Hotel in Santa Monica, California. API’s Chairman and CEO, Rick Kurtz, is scheduled to present on Tuesday, May 24 at 1:30 p.m.

This prestigious two-day, invitation-only annual event, brings together a targeted audience of leading institutional investors, financial services professionals and other qualified investors. The conference will feature presentations by over 150 companies in a broad range of sectors, including: technology, consumer, retail, and financials. One-on-one meetings with company management teams will be available for all client investors. For more information on the conference, the most current list of presenting companies, or registration information, visit www.brileyco.com. Registered conference attendees may request a one-on-one meeting through the B. Riley conference website at http://www.brileyco.com/conference.

Rick Kurtz and Rob Risser, COO and CFO of API, will also participate in one-on-one meetings throughout the event. The presentation will be accessible on the Company’s web site, www.advancedphotonix.com, after the conference.

About Advanced Photonix, Inc.

Advanced Photonix, Inc.® (NYSE Amex: API) is a leading supplier with a broad offering of optoelectronic products to a global customer base. We provide optoelectronic solutions, high-speed optical receivers and terahertz instrumentation for telecom, homeland security, military, medical and industrial markets. With our patented technology and state-of-the-art manufacturing we offer industry leading performance, exceptional quality, and high value added products to our OEM customer base. For more information visit us on the web at www.advancedphotonix.com.

The information contained herein includes forward looking statements that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, unforeseen technological obstacles which may prevent or slow the development and/or manufacture of new products; potential problems with the integration of the acquired company and its technology and possible inability to achieve expected synergies; obstacles to successfully combining product offerings and lack of customer acceptance of such offerings; limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company; and a decline in the general demand for optoelectronic products. API-G

Advanced Photonix, Inc.

Richard Kurtz, (734) 864-5688

IR@advancedphotonix.com

Fuwei Films (FFHL) Announces the Completion of the Major Shareholders’ Ownership Transfer

BEIJING, May 19, 2011 /PRNewswire-Asia-FirstCall/ — Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) (“Fuwei” or the “Company”), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that the Company received a second notification dated May 17, 2011 (the “Second Notification”) from the Weifang State-Owned Assets Operation Administration Company, a wholly-owned subsidiary of Weifang State-Owned Asset Management and Supervision Committee (the “Administration Company”) regarding the transfer of ownership of Fuwei stock previously controlled by the Company’s major shareholders.

The Company previously announced the receipt of the first notification from the Administrative Company pursuant to which the former major shareholders of the Company, Messrs. Jun Yin, Duo Wang and Tong Ju Zhou, transferred their entire ownership in several intermediate holding companies to the Administration Company, Ms. Qing Liu, and Mr. Zhixin Han.

As discussed in the Second Notification, Ms. Qing Liu and Mr. Zhixin Han have transferred their entire ownership in the intermediate holding company, Easebright Investments Limited, to the Administration Company. As a result of the transfer, and based on the information provided by the Administration Company, the Company believes that 65.45% of its outstanding ordinary shares are controlled indirectly by the Administration Company.

In light of the completion of the major shareholders’ ownership transfer, the Hearing Panel of the NASDAQ Stock Market LLC (“NASDAQ”) issued a notification dated May 18, 2011, informing the Company that the staff’s public interest concern deficiency of the Company has been cured, and that the Company is in compliance with all applicable listing standards. As a result, the scheduled hearing before the Hearings Panel has been cancelled, and the Company’s ordinary shares will continue to be listed and trade on The Nasdaq Stock Market.

“We are pleased to announce the completion of the major shareholders’ ownership transfer and the withdrawal of the delisting notification, which will allow the management to focus their efforts on the business of the Company,” said Mr. Xiaoan He, Chairman and Chief Executive Officer of the Company. “In addition, the management expects that the new major shareholders will promote the continued growth and development of the Company as a Nasdaq-listed public company.”

About Fuwei Films

Fuwei Films conducts its business through its wholly owned subsidiary, Fuwei Films (Shandong) Co., Ltd. (“Shandong Fuwei”). Shandong Fuwei develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, otherwise known as BOPET film (biaxially oriented polyethylene terephthalate). Fuwei’s BOPET film is widely used to package food, medicine, cosmetics, tobacco, and alcohol, as well as in the imaging, electronics, and magnetic products industries.

Safe Harbor

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission which, among other things, include competition in the BOPET film industry; growth of, and risks inherent in, the BOPET film industry in China; uncertainty as to future profitability and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms, particularly in view of the volatility in the prices of petroleum products in recent years. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of the risk factors.

Clean Diesel Technologies, Inc. (CDTI) to Provide Catalyst Engineering Services and Support to Chinese Venture

PURE Bioscience (PURE) Reports Study Showing Effectiveness of SDC Against Biofilm

May 19, 2011 (Business Wire) — PURE Bioscience, Inc. (NASDAQ: PURE), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, today announced preliminary in vitro laboratory results demonstrating SDC’s effectiveness against biofilm in tests conducted by the University of Medicine & Dentistry of New Jersey.

Dr. Narayanan Ramasubbu, Associate Professor, Department of Oral Biology, stated, “We have used SDC against single species biofilms of Aggregatibacter actinomycetemcomitans, a causative agent in localized aggressive periodontitis, and S. epidermidis, a pathogen associated with hospital settings. Our results show that these bacteria in the biofilm state are killed within minutes at 30 ppm of SDC. Not only did SDC kill biofilm bacteria but also it inhibited the biofilm formation at levels as low as 1.5 ppm in a citrate-containing medium.”

According to Dr. Ramasubbu, biofilm bacteria predominate, numerically and metabolically, in virtually all nutrient-sufficient ecosystems, including the oral cavity. Biofilms play a role in the pathogenesis of dental caries, periodontitis, infective endocarditis, cystic fibrosis, pneumonia, prostatitis, osteomyelitis, otitis media, infectious kidney stones and other chronic infections. Bacterial cells in a biofilm are surrounded by a self-synthesized, three-dimensional matrix (slime or extracellular polysaccharide, EPS) that holds the cells together in a mass and firmly attaches the bacterial mass to a range of living and non-living surfaces.

Dr. Ramasubbu also explained that the exopolysaccharide mediates resistance to killing by antibiotics, detergents and antimicrobial peptides. However, bacteria in the biofilm can survive because of channels in them that circulate nutrients and water. Biofilms can be comprised of a single microbial species or multiple microbial species and eradicating them requires very specific, highly effective and environmentally safe agents that can adapt to the resistance.

Michael L. Krall, President and CEO of PURE Bioscience, commented, “SDC’s ability to eliminate and even prevent biofilm presents a phenomenal market opportunity for PURE. We’re directing ongoing research projects on biofilm not only in public health, but also in industrial environments, including food processing, and oil and gas, as we begin to present SDC as a viable solution to this costly and dangerous problem.”

SDC is a new molecular entity, developed and patented worldwide by PURE Bioscience. An electrolytically generated source of stabilized ionic silver in liquid form, SDC provides superior antimicrobial efficacy with residual protection while mitigating bacterial resistance. SDC is colorless, odorless, tasteless, non-toxic and formulates well with other compounds, making it an ideal basis for a broad range of products. SDC is available in pre-formulated, ready-to-use products; including PURE’s disinfectant and food contact surface sanitizer, and is also available in varying strengths of concentrate for use as an additive or raw material.

About PURE Bioscience, Inc.

PURE Bioscience, Inc. develops and markets technology-based bioscience products that provide solutions to numerous global health challenges, including Staph (MRSA). PURE’s proprietary high efficacy/low toxicity bioscience technologies, including its silver dihydrogen citrate-based antimicrobials, represent innovative advances in diverse markets and lead today’s global trend toward industry and consumer use of “green” products while providing competitive advantages in efficacy and safety. Patented SDC is an electrolytically generated source of stabilized ionic silver, which formulates well with other compounds. As a platform technology, SDC is distinguished from competitors in the marketplace because of its superior efficacy, reduced toxicity and the inability of bacteria to form a resistance to it. PURE is headquartered in El Cajon, California (San Diego metropolitan area). Additional information on PURE is available at www.purebio.com.

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s cash position and liquidity requirements, acceptance of the Company’s current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

PURE Bioscience Investor Contact:

Lippert/Heilshorn & Associates

Don Markley, Senior Vice President

310-691-7100

dmarkley@lhai.com

or

PURE Bioscience Media Contact:

Gutenberg Communications

Michael Gallo

212-239-8594

mgallo@gutenbergpr.com

NeoStem (NBS) Announces Agreement with Nankai Hospital in Tianjin

NEW YORK, May 17, 2011 /PRNewswire/ — NeoStem, Inc. (NYSE Amex: NBS) (“NeoStem” or the “Company”), an international biopharmaceutical company with product and service revenues, global research and development capabilities and operations in three distinct business units – U.S. adult stem cells, China adult stem cells, and China pharmaceuticals – announced today that an affiliated entity has entered into an agreement with Tianjin Nankai Hospital in the People’s Republic of China (PRC) to offer NeoStem’s licensed treatments for orthopedic applications.

In December 2010, NeoStem announced an agreement with Shijiazhuang Third Hospital in Hebei Province. This new agreement with Tianjin Nankai Hospital adds another location where Chinese citizens can receive adult stem cell treatments for arthritis and orthopedic conditions based on technology exclusively licensed by NeoStem for Asia.

Nankai Hospital is located in Tianjin, approximately 80 miles from Beijing, less than a 30 minute ride on the new high-speed train. Tianjin is a city with a population of over 14 million with a reputation for advanced industry and innovation and which boasts investment or branch offices estimated at over one-half of Fortune Global 500 companies and over 400 hospitals. Tianjin Nankai Hospital has approximately 1,100 patient beds, of which approximately 88 are dedicated to orthopedics. Following the completion of its planned new hospital building, orthopedic beds are expected to be expanded to approximately 1,000 beds.

Dr. Li Ping, President of Tianjin Nankai Hospital, said, “Offering NeoStem’s licensed technology in our hospital means patients with orthopedic and arthritis conditions have the advantage of using their body’s own cells for self-regeneration.” Dr. Robin L. Smith, Chairman and CEO of NeoStem, said, “We are very excited about our new relationship with Tianjin Nankai Hospital, another large Chinese hospital to grow revenues from mature adult stem cell-based treatments.”

About NeoStem, Inc.

NeoStem, Inc. is engaged in the development and manufacturing of cell-based therapies in the U.S. Its January 2011 acquisition of Progenitor Cell Therapy, LLC (“PCT”) is central to the Company’s strategic mission of capturing the paradigm shift to cell therapy. The acquisition of PCT gives NeoStem not only access to a world class contract manufacturing cell therapy company but provides a platform and expertise around the evaluation, development and regulatory requirements to develop autologous, allogeneic, immunomodulatory and vaccine-based therapeutics. NeoStem also holds the worldwide exclusive license to VSEL(TM) Technology, which uses very small embryonic-like stem cells, shown to have several physical characteristics that are generally found in embryonic stem cells, and is pursuing the licensing of other technologies for therapeutic use. NeoStem owns 80% of Athelos Corporation, a company developing a T-cell therapeutic with potential in a range of auto-immune conditions such as graft versus host disease, asthma and diabetes. Furthermore, NeoStem is building its Chinese presence by establishing an operations lab for cell-based manufacturing in Beijing as well as commercializing cellular therapies in China through the establishment of a network of hospitals. NeoStem also owns a majority-interest in Suzhou Erye Pharmaceutical Company Limited, a world class manufacturing and distribution operation of generic antibiotics in China.

For more information, please visit: http://www.neostem.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward looking statements include statements herein with respect to the successful execution of the Company’s strategy, including with respect to the expansion and success of the hospital network in China, about which no assurances can be given. The Company’s actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 6, 2011, as well as other periodic filings made with the Securities and Exchange Commission. The Company’s further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.

Versar, Inc. (VSR) Announces Significant Revenue and Earnings Growth

May 17, 2011 (Business Wire) — Versar, Inc. (NYSE Amex: VSR) today announced solid financial results for the third quarter of fiscal year 2011, ending April 1, 2011. Gross revenue for the third quarter of $31.5 million was 29% higher than the $24.4 million reported during the same period last year. Net income for the third quarter of fiscal year 2011 was $629 thousand or $0.07 per share compared to a loss of $1.5 million or ($0.16) per share for the same period last year. Third quarter fiscal year 2011 Gross profit of $4.2 million was 223% higher than the $1.3 million reported during the third quarter of fiscal year 2010 and Operating Income of $1.4 million was approximately $3.6 million higher than the $2.3 million loss reported during the same period last year.

Third quarter year on year revenue growth benefitted from Versar’s two acquisitions completed in fiscal year 2010 and strong performance in the Company’s Compliance and Environmental and National Security Business Segments. Further, Versar’s cost reduction efforts, combined with ongoing efficiency improvements, kept selling, general and administrative (SG&A) expenses flat compared to last year, even as revenue grew 40% during the first nine months of fiscal year 2011.

For the first nine months of fiscal year 2011, gross revenue was $102.7 million, 40% higher compared to $73.5 million reported in the first nine months of last fiscal year. The Company reported net income of $2.1 million, or $.23 per share, for the first nine months of fiscal year 2011 compared to a loss of $1.6 million, or ($0.17) per share, during the same period in fiscal year 2010, a $.40 per share turn around. Gross Profit for the first nine months of fiscal year 2011 of $10.7 million was 100% higher than the same period last year and Operating Income for the first nine months of fiscal year 2011 of $3.7 million was $6.1 million higher than $2.4 million loss reported during the same period last year.

Funded backlog at the end of the third quarter was approximately $71.0 million, a decrease of 6% compared to approximately $75.5 million as of March 26, 2010; however funded backlog grew to $85.6 million by the end of April, a 16% increase over the same period last year as contract funding began to flow following the recent resolution of the Federal FY 2011 Budget concerns.

Tony Otten, CEO of Versar said, “Through nine months of fiscal year 2011 we have now exceeded the entire revenue total of fiscal year 2010. Our four business segments were once again all in the black and gross profit margins continue to improve. Net income for the third quarter of fiscal year 2011 was 145% higher than the same period last year and would have been higher if not for non-recurring expenses associated with severance for our former CFO and a change in the fair market value of a previous acquisition. I continue to be optimistic for the Company’s year-end results and for the coming fiscal year.”

VERSAR, INC., headquartered in Springfield, VA, is a publicly held global project management company providing sustainable solutions to government and commercial clients in construction management, environmental services, munitions response, telecommunications and energy. VERSAR operates a number of web sites, including the corporate Web sites, www.versar.com, www.homelanddefense.com, www.geomet.com; www.viap.com; www.dtaps.com; www.adventenv.com, and www.ppsgb.com.

This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended June 25, 2010, as updated from time to time in the Company’s periodic filings. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.

Versar, Inc.

Michael J. Abram

Senior Vice President

703-642-6706

mabram@versar.com

O’Charley’s Inc. (CHUX) Reports Comparable Sales Increases

May 17, 2011 (Business Wire) — O’Charley’s Inc. (NASDAQ: CHUX) today reported operating results for the 16-week period ended April 17, 2011.

Financial and Operating Highlights

• Comparable sales and guest counts increased in all three restaurant concepts:
  • O’Charley’s comparable sales and guest counts for company-operated restaurants increased by 0.4 percent and 0.9 percent, respectively.
  • Ninety Nine Restaurants’ comparable sales and guest counts increased 3.1 percent and 0.9 percent, respectively.
  • Stoney River Legendary Steaks’ comparable sales and guest counts increased by 8.4 percent and 13.9 percent, respectively.
• First quarter revenue decreased by 0.8 percent to $265.0 million from $267.1 million in the first quarter of 2010 as a 1.5 percent increase in blended comparable restaurant sales was offset by a 2.2 percent decrease in restaurant sales resulting from restaurant closures in the prior year.
• The calendar shift of Easter into the second quarter of 2011 positively impacted first quarter restaurant sales by 0.4 percent.
• Restaurant-level margins declined to 14.7 percent of restaurant sales from 15.8 percent of restaurant sales in the same prior year quarter.
• Income from operations was $5.3 million, or 2.0 percent of revenue, compared to income from operations of $3.2 million, or 1.2 percent of revenue in the same prior year quarter. The company recognized impairment charges of $0.2 million and $3.1 million during the first quarters of 2011 and 2010, respectively.

• Income from continuing operations was $1.9 million, or $0.09 per diluted share, in the first quarter of 2011 compared to a loss from continuing operations of $1.6 million, or $0.08 per diluted share, in the same prior year quarter.
• Net income for the first quarter of 2011 was $1.8 million, or $0.08 per diluted share, compared to a net loss in the same prior year quarter of $4.3 million, or $0.21 per diluted share.
• The Company finished the quarter with $36.5 million of cash on the balance sheet and over $33 million remaining availability on its revolving credit facility.

“During the first quarter, we saw comparable sales increase at the O’Charley’s concept for the first time in 5 years. Our Ninety Nine and Stoney River concepts each had their third consecutive quarter of comparable sales improvement. Stoney River also had their sixth consecutive quarter of guest count increases,” said David W. Head, president and chief executive officer of O’Charley’s Inc.

“We believe that our improved sales performance was driven by our focus on these key points of our turnaround plan: (1) lead with food and win with food: serving a menu of memorable offerings priced to provide a compelling value for our guests; (2) operate great restaurants: consistently delivering a quality dining experience; (3) drive guest visits through effective messages: clearly communicating the attributes of our concepts; and (4) provide attractive and comfortable restaurants: delivering a great environment for our guests every day at each O’Charley’s, Ninety Nine and Stoney River restaurant.”

“While we are encouraged by the improvement in comparable sales and our improvements in our guest satisfaction metrics, we recognize that this is but the first step in strengthening guest loyalty in all three of our concepts. We are focused on translating this progress into long-term sustainable growth in sales and profitability. We are following a disciplined plan, with a highly-dedicated management team focused on executing our plan. Every team member understands that our work has just begun and we do not equate one quarter of positive sales and guest counts with success.”

Outlook for the Second Quarter of 2011

For the second quarter of 2011, the Company is forecasting total revenue of between $190 million and $195 million, loss/income from operations of between a loss of $1 million and income of $2 million, and adjusted EBITDA of between $9 million and $12 million. The Company’s second quarter is a 12-week quarter, whereas its first quarter was a 16-week quarter. Based upon historical seasonal patterns, average weekly sales per restaurant and restaurant level margins are higher in the first quarter than in the subsequent three quarters. Adjusted EBITDA is a non-GAAP financial measure. A reconciliation of adjusted EBITDA to income from operations is included with the supplementary information to this release.

Investor Conference Call and Web Simulcast

O’Charley’s Inc. will conduct a conference call on its 2011 first quarter earnings release on May 17, 2011, at 9:00 a.m. Eastern Time. The number to call for this interactive teleconference is (800) 762-8779, and the confirmation passcode is 4436705. Please dial in 10 minutes prior to the beginning of the call. A replay of the conference call will be available through May 31, 2011, by dialing (800) 406-7325 and entering passcode 4436705.

The live broadcast of O’Charley’s conference call will be available online:

http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=82565&eventID=3987671.

If you are unable to participate during the live Webcast, the call will be archived on the Company’s Web site at www.ocharleysinc.com, as well as www.streetevents.com and www.earnings.com, and will be available through May 31, 2011.

About O’Charley’s Inc.

O’Charley’s Inc., headquartered in Nashville, Tennessee, is a multi-concept restaurant company that operates or franchises a total of 343 restaurants under three concepts: O’Charley’s, Ninety Nine Restaurant, and Stoney River Legendary Steaks. The O’Charley’s concept includes 227 restaurants in 18 states in the Southeast and Midwest, including 221 company-owned and operated O’Charley’s restaurants, and 6 restaurants operated by franchisees. The menu, with an emphasis on fresh preparation, features several specialty items, such as hand-cut and aged USDA choice steaks, a variety of seafood and chicken, freshly baked yeast rolls, fresh salads with special-recipe salad dressings and signature caramel pie. The Company operates Ninety Nine restaurants in 106 locations throughout New England and upstate New York. Ninety Nine has earned a strong reputation as a friendly, comfortable place to gather and enjoy great American food and drink at a terrific price. The menu features a wide selection of appetizers, salads, sandwiches, burgers, entrees and desserts. The Company operates 10 Stoney River Legendary Steaks restaurants in six states in the Southeast and Midwest. This steakhouse concept appeals to both upscale casual-dining and fine-dining guests by offering high-quality food and attentive customer service typical of high-end steakhouses, but at more moderate prices.

Forward Looking Statement

The forward looking statements in this press release and statements made by or on behalf of the Company relating hereto, including those containing words like “forecast,” “expect,” “project,” “believe,” “may,” “could,” “anticipate,” and “estimate,” are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to the finalization of the Company’s first quarter financial and accounting procedures, and may be affected by certain risks and uncertainties, including, but not limited to, the deterioration in the United States economy and the related adverse effect on our sales of decreased consumer spending; the Company’s ability to comply with the terms and conditions of its financing agreements; the Company’s ability to maintain or increase operating margins and comparable store sales at its restaurants; the effect that increases in food, labor, energy, interest costs and other expenses have on our results; the effect of increased competition; the Company’s ability to sell or sublease closed restaurants and other surplus assets; and the other risks described in the Company’s filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking statements included herein, you should not regard the inclusion of such information as a representation by us that our objectives, plans and projected results of operations will be achieved and the Company’s actual results could differ materially from such forward-looking statements. The Company does not undertake any obligation to publicly release any revisions to the forward-looking statements contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.