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Endeavour Silver (EXK) Reports Record EBITDA, Cash-Flow, Revenues in Q3, 2010

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 11/10/10 — Endeavour Silver Corp. (TSX: EDR)(NYSE Amex: EXK)(DBFrankfurt: EJD) announced today its financial and operating results for the Third Quarter, 2010, including record quarterly EBITDA, cash-flow and revenues. Endeavour owns and operates two high-grade, underground, silver-gold mines in Mexico, the Guanacevi Mines in Durango State and the Guanajuato Mines in Guanajuato State.

The financial results are expressed in US dollars (“US$”) and are based on Canadian generally accepted accounting practices (Canadian “GAAP”). Shareholders are referred to the Company’s website for more details: Third Quarter 2010 Financial Statements – http://www.edrsilver.com/s/FinancialStatements.asp and Management Discussion and Analysis (“MD&A”) – http://www.edrsilver.com/s/MDA.asp.

Third Quarter 2010 Highlights (Compared to Q3, 2009)

--  Net Earnings climbed from $1.5 million loss to $0.1 million gain

--  EBITDA rose 826% to $6.5 million

--  Mine operating cash-flow escalated 181% to $10.9 million

--  Sales revenues increased 105% to $20.1 million

--  Cash costs increased 14% to $5.93 per oz silver produced (net of gold
    credits)

--  Silver production climbed 20% to 797,054 ounces (oz)

--  Gold production jumped 28% to 4,607 oz

--  Silver equivalent production rose 22% to 1,096,509 oz (65:1 silver: gold
    ratio, no base metals)

--  Plant expansion to 1,000 tonnes per day at Guanacevi now substantially
    complete

--  Acquired three new properties and identified three new silver-gold veins
    at Guanacevi

--  Discovered two new silver-gold veins at Guanajuato

--  Commenced new Lucero South access ramp to accelerate development and
    production of Lucero vein

--  Became debt-free with conversion of $10.1 million debentures into 5.3
    million units

--  Launched all-cash bid to acquire Cream Minerals (since amended)

Bradford Cooke, Chairman and CEO, commented, “Endeavour Silver’s record financial performance in Q3, 2010 can be attributed to our growing silver-gold production, improving cash costs and higher metal prices. Once again, our operating team did an excellent job, as Endeavour remains ahead of schedule on our 2010 production targets and our capital expansion projects for 2010 are now substantially complete.”

“Plant production should climb and cash costs should fall once again in Q4, 2010 as our mining operations approach the 1,000 tonne per day capacity at Guanacevi and the 600 tonne per day capacity at Guanajuato. Both mines now have very healthy ore stockpiles (90,000 tonnes at Guanacevi, 5,000 tonnes at Guanajuato) to facilitate the current phase of production growth.”

“Endeavour’s exploration team also “delivered the goods” in the third quarter, with the successful extension of the Lucero vein and the discovery of two new veins, Karina and Fernanda, at Guanajuato. As a result, management is now considering a substantial mine and mill expansion at Guanajuato for next year.”

“Last but not least, Endeavour amended its offer to acquire Cream Minerals yesterday with the support and recommendation of the Cream Board. If successful, our bid to acquire control of Cream is an integral part of our acquisition growth strategy. Management will remain focused on both organic growth and acquisition opportunities in the Fourth Quarter.”

Financial Results (see Consolidated Statement of Operations)

Sales Revenues increased 181% to $20.1 million in Q3, 2010 (Q3, 2009 – $9.8 million) thanks to sharply higher mineral production and metal prices. The Company sold 849,858 silver oz and 3,550 gold oz at average realized prices of $18.47 per oz and $1,241 per oz respectively. Costs of Sales were up 67% to $10.9 million (Q3, 2009 – $6.5 million) primarily due to the increased production rate.

Mine Operating Cash Flows increased 181% to $9.2 million (Q3, 2009 – $3.3 million) and Mine Operating Earnings rose to $5.3 million (Q3, 2009 – $1.3 million). The Company realized a positive Operating Income of $1.3 million (Q3, 2009 – Loss of $1.1 million), primarily due to higher Mine Operating Earnings. Income Before Tax was $2.2 million (Q3, 2009 – Loss of $1.7 million). The Company incurred an Income Tax Expense of $2.1 million (Q3, 2009 – Recovery of $0.3 million) for Net Earnings of $0.1 million (Q3, 2009 – loss of $1.5 million) for the period.

Cash Operating Costs increased 14% to $5.93 per oz silver produced in Q3, 2010 (Q3, 2009 – $5.19 per oz) primarily due to slightly lower grades and recoveries and minor escalations in costs, partially offset by higher gold production and gold prices. Endeavour reports its cash operating costs according to the Gold Institute reporting guidelines so they include offsite costs such as transportation, smelting and refining, net of by- product credits.

The Company made Capital Investments totalling $9.9 million in property, plant and equipment during the Third Quarter, 2010. The main focus of the capital expansion programs at Guanacevi continued to be the development of the Santa Cruz and Porvenir Cuatro access ramps, and the expansion of the crushing and other plant circuits. At Guanajuato, mine development continued on the South extensions of the Lucero and Bolanitos veins, and work commenced on the new Lucero South access ramp.

At September 30, 2010, the Company held cash and cash equivalents of $19.6 million and working capital totalled $42.4 million, up from $38.8 million at the end of 2009.

Operating Results (see Consolidated Table of Operations)

Silver production climbed 20% to 797,054 oz and gold production jumped 28% to 4,607 oz in Q3, 2010 compared to Q3, 2009, thanks to higher plant throughput at both Guanacevi and Guanajuato. As a result, silver and equivalent production rose 22% to 1,096,509 oz (65:1 silver: gold ratio, no base metals).

Plant throughputs in Q3, 2010 totalled 126,599 tonnes, up 36% compared to Q3, 2009 due to the benefits of the 2009-10 mine development programs at both operations and the 20% plant expansion at Guanajuato last year. Guanacevi averaged 815 tonnes per day (tpd) and Guanajuato averaged 560 tpd in Q3, 2010.

Consolidated silver grades averaged 265 grams per tonne (gpt) silver (8.5 oz per ton) and gold grades averaged 1.42 gpt gold (0.05 oz per ton), comparable to Q3, 2009. Consolidated silver and gold recoveries were down slightly as a result of processing new ores from the Porvenir Dos mine at Guanacevi and adjusting the ore blend from the Lucero, Bolanitos and Cebada mines at Guanajuato. Work is now underway to try and increase metal recoveries back to previous levels.

Fourth Quarter 2010 Outlook

In Q4, 2010, Endeavour anticipates its financial performance will continue to improve, to reflect significantly higher silver and gold bullion prices and a moderate increase in production. Cash operating costs should continue to trend downward toward the $5.00-$5.50 per oz range, and our profit margin is expected to rise accordingly. As a result, management expects to record its first year of net earnings in 2010.

Silver production remains slightly ahead of schedule for the year. Similar to 2009, the first two quarters of silver production in 2010 were scheduled to be relatively flat, as we focused on mine development and plant expansion capital programs. Silver production started rising again in the Third Quarter, 2010, as the new ore- bodies under development during the first half of the year at Guanacevi and Guanajuato entered into production.

Guanacevi mine production is scheduled to reach 1,000 tonnes per day (tpd), and Guanajuato mine production is targeting 600 tonnes per day (tpd) in Q4, 2010. Guanacevi currently draws 80% of its ore from the Porvenir Mine and the balance from Porvenir Dos. Both the Porvenir Cuatro and Santa Cruz access ramps were completed ahead of schedule, and both are now in ore development. Work on the new crushing and other existing circuits at the Guanacevi plant is now substantially complete and the plant is nearing full production.

At Guanajuato, the Lucero vein now contributes 80% of the ore production with the balance coming from Cebada and Bolanitos. With last year’s expansion of the Guanajuato plant capacity to 600 tpd, production is still climbing with the development of the ore zones on the Bolanitos and Lucero veins. Plant capacity is expected to be achieved when the new Lucero South access ramp is completed in Q4, 2010.

Exploration expenses should remain constant into the Fourth Quarter, 2010 as Endeavour pushes ahead on its exploration programs at several projects. A total of 10,000 meters of core drilling is planned during the fourth quarter for Guanajuato, Guanacevi, and San Sebastian, as well as surface surveys and target definition work on other properties.

At Guanacevi, the next phase of diamond drilling will be carried out in the San Pedro area. At Guanajuato, drilling continues at Lucero South and will be initiated in the Bolanitos North area.

At Parral, drill results will be assessed and released shortly. At San Sebastian, a Phase 1 drill program will get underway in the Real Alto area to test several prospective targets.

At El Toro, machine trenching, rock sampling & diamond drilling has been completed and assays are pending. At Arroyo Seco, drill results should be released in during the fourth quarter.

Q3, 2010 Conference Call at 10:30 AM PDT, Friday, November 12, 2010

A conference call to discuss the results will be held at 1:30 PM Eastern Time (10:30 AM Pacific Time) on Friday, November 12, 2010. To participate in the conference call, please dial the following:

800-319-4610                  Canada and USA (Toll-free)
604-638-5340                  Vancouver Dial In
1-604-638-5340                Outside of Canada & USA
No pass-code is necessary

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada & USA (Toll-free) or 1- 604-638-9010 outside of Canada and USA. The required pass code is 4890 followed by #.

Godfrey Walton, M.Sc., P.Geo., the President and COO, is the Qualified Person who reviewed this news release and oversaw the mining operations. Barry Devlin, M.Sc., P.Geo., the Vice President of Exploration, is the Qualified Person who reviewed this news release and supervised the exploration programs.

Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted five consecutive years of aggressive silver production, reserve and resource growth. The organic expansion programs now underway at Endeavour’s two operating silver mines in Mexico combined with its strategic acquisition and exploration programs should help Endeavour achieve its goal to become the next premier mid-tier silver mining company.

ENDEAVOUR SILVER CORP.

Dan Dickson, Chief Financial Officer

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include, but are not limited to, statements regarding Endeavour’s anticipated performance in 2010, including silver and gold production, timing and expenditures to develop new silver mines and mineralized zones, silver and gold grades and recoveries, cash costs per ounce, capital expenditures and sustaining capital and the use of proceeds from the Company’s recent financing. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements.

Such factors include, among others: fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, diminishing quantities or grades of mineral reserves as properties are mined; the ability to successfully integrate acquisitions; risks in obtaining necessary licenses and permits, and challenges to the company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

ENDEAVOUR SILVER CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited-Prepared by Management)
(expressed in thousands of US dollars, except for shares and per share
 amounts)

---------------------------------------------------------------------------
---------------------------------------------------------------------------
                             Three Months Ended           Nine Months Ended
                     September 30  September 30  September 30  September 30
                             2010          2009          2010          2009
---------------------------------------------------------------------------

Revenue              $     20,091  $      9,796  $     58,035  $     26,519

Cost of sales              10,858         6,516        30,291        18,039
Depreciation and
 depletion                  3,977         1,997        10,306         6,701
Exploration                 1,189           647         3,385         1,230
General and
 administrative             1,126           993         3,514         3,011
Accretion of
 convertible
 debentures                   248           444         1,088         1,018
Stock-based
 compensation               1,353           264         3,697           862
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Earnings (loss)             1,340        (1,065)        5,754        (4,342)

Foreign exchange gain
 (loss)                       244          (723)          153          (968)
Realized gain on
 marketable
 securities                   142             -           189             -
Mark to market gain
 (loss) on redemption
 call option                  413             -           703             -
Investment and other
 income                       117            43           286           239
---------------------------------------------------------------------------

Earnings (loss)
 before taxes               2,256        (1,745)        7,085        (5,071)
---------------------------------------------------------------------------
Income tax recovery
 (expense)                 (2,129)          258        (5,650)           12
---------------------------------------------------------------------------
Net earnings (loss)
 for the period               127        (1,487)        1,435        (5,059)
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Other comprehensive
 income, net of tax
 Unrealized gain
  (loss) on
  marketable
  securities                 (54)           119           (28)          119
 Unrealized foreign
  exchange gain
  (loss) on
  investments                  29           267             -           267
 Unrealized gain
  (loss) on other
  investments                  72             -           736             -
Realized gain on
 marketable
 securities included
 in net income               (142)            -          (189)            -
---------------------------------------------------------------------------
                             (95)           386           519           386
---------------------------------------------------------------------------
Comprehensive income
 (loss) for the
 period                        32        (1,101)        1,954        (4,673)
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Basic and diluted
 earnings (loss) per
 share               $       0.00  $      (0.03) $       0.02  $      (0.10)
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Weighted average
 number of shares
 outstanding           65,511,785    52,082,469    63,004,088    51,330,621
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ENDEAVOUR SILVER CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited-Prepared by Management)
(expressed in thousands of U.S. dollars)

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---------------------------------------------------------------------------
                                   Three Months Ended     Nine Months Ended
                                 September  September  September  September
                                        30,        30,        30,        30,
                                      2010       2009       2010       2009
---------------------------------------------------------------------------

Operating activities
Net earnings (loss) for the
 period                          $     127  $  (1,487) $   1,435  $  (5,059)
Items not affecting cash:
 Stock-based compensation            1,353        265      3,697        862
 Depreciation and depletion          3,977      1,997     10,306      6,701
 Future income tax expense
  (recovery)                         2,200        506      5,620       (525)
 Unrealized foreign exchange loss
  (gain)                               (97)       581        (71)     1,298
 Accretion of convertible
  debentures                           248        445      1,088      1,018
 (Gain) on redemption call option     (413)         -       (703)         -
 Realized (gain) on marketable
  securities                          (142)         -       (189)         -
Net changes in non-cash working
 capital                            (2,121)       (50)    (9,988)    (2,450)
---------------------------------------------------------------------------
Cash from (used for) operations      5,132      2,257     11,195      1,845
---------------------------------------------------------------------------

Investing activites
 Property, plant and equipment
  expenditures                      (9,916)    (4,861)   (22,779)   (11,329)
 Long term deposits                    (49)         -        (49)       (29)
 Investment in marketable
  securities                             -       (705)    (1,021)      (705)
 Proceeds from sale of marketable
  securities                         1,996          -      3,214          -
---------------------------------------------------------------------------
Cash used in investing activities   (7,969)    (5,566)   (20,635)   (12,063)
---------------------------------------------------------------------------

Financing activities
 Common shares issued, net of
  issuance costs                     1,471         18      3,373        383
 Issuance of convertible
  debentures                             -          -          -     11,225
 Debenture issuance costs                -          -          -     (1,191)
 Interest paid                        (364)      (321)      (989)      (477)
---------------------------------------------------------------------------
Cash from financing activites        1,107       (303)     2,384      9,940
---------------------------------------------------------------------------

Increase (decrease) in cash and
 cash equivalents                   (1,730)    (3,612)    (7,056)      (278)
Cash and cash equivalents,
 beginning of period                21,376      6,916     26,702      3,582
---------------------------------------------------------------------------
Cash and cash equivalents, end of
 period                          $  19,646  $   3,304  $  19,646  $   3,304
---------------------------------------------------------------------------
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ENDEAVOUR SILVER CORP.
CONSOLIDATED BALANCE SHEETS
(Unaudited-Prepared by Management)
(expressed in thousands of US dollars)

---------------------------------------------------------------------------
---------------------------------------------------------------------------
                                                  September 30  December 31
                                                          2010         2009
ASSETS
Current assets
 Cash and cash equivalents                         $    19,646  $    26,702
 Marketable securities                                      42        2,045
 Notes receivable                                        3,212        2,476
 Accounts receivable and prepaids                       17,350        7,467
 Inventories                                            11,023        6,100
 Due from related parties                                  390          243
---------------------------------------------------------------------------
Total current assets                                    51,663       45,033
Long term deposits                                       1,202        1,153
Redemption call option on convertible debentures             -        2,693
Mineral property, plant and equipment                   70,138       57,002
---------------------------------------------------------------------------
Total assets                                       $   123,003  $   105,881
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
 Accounts payable and accrued liabilities          $     7,318  $     5,230
 Current portion of promissory note                        231          231
 Accrued interest on convertible debentures                  -          254
 Income taxes payable                                    1,653          545
---------------------------------------------------------------------------
Total current liabilities                                9,202        6,260

Promissory note                                            106          248
Asset retirement obligations                             1,847        1,740
Future income tax liability                             13,723        8,103
Liability portion of convertible debentures                  -        8,149
---------------------------------------------------------------------------
Total liabilities                                       24,878       24,500
---------------------------------------------------------------------------

Shareholders' equity
Common shares, unlimited shares authorized, no par
 value, issued and outstanding 69,757,153 shares
 (2009 - 60,626,203 shares)                            128,278      112,173
Equity portion of convertible debentures                     -        2,164
Contributed surplus                                     13,788       12,948
Accumulated comprehensive income                         1,277          749
Deficit                                                (45,218)     (46,653)
---------------------------------------------------------------------------
Total shareholders' equity                              98,125       81,381
---------------------------------------------------------------------------
                                                   $   123,003  $   105,881
---------------------------------------------------------------------------
---------------------------------------------------------------------------

ENDEAVOUR SILVER CORP.
CONSOLIDATED MINE OPERATIONS

Comparative Table of Consolidated Mine Operations
---------------------------------------------------------------------------
---------------------------------------------------------------------------
                                Ore        Recovered      Reco- Cash Direct
                   Plant     Grades           Ounces    veries  Cost   Cost
                   T'put   Ag    Au        Ag     Au   Ag   Au $ per  $ per
Period            Tonnes (gpt) (gpt)      (oz)   (oz)  (%)  (%)   oz  tonne
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Production 2010
Q1, 2010         112,963  270  1.34   766,210  3,775 78.3 78.7  6.39  79.45
Q2, 2010         123,825  267  1.32   826,439  4,460 77.6 84.9  5.94  86.69
Q3, 2010         126,599  265  1.45   797,054  4,607 73.8 77.8  5.93  81.35
Q4, 2010
---------------------------------------------------------------------------
YTD 2010         363,387  267  1.37 2,389,703 12,842 76.5 80.5  6.08  82.58
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Production 2009
Q1, 2009          85,731  271  1.02   572,785  2,335 78.8 86.7  7.56  74.69
Q2, 2009          90,338  259  1.16   584,486  2,768 77.2 85.0  6.95  79.46
Q3, 2009          93,276  271  1.42   661,903  3,604 79.6 84.6  5.19  78.91
Q4, 2009         115,482  270  1.62   779,344  4,591 77.8 76.2  4.96  79.07
---------------------------------------------------------------------------
Total            384,827  268  1.33 2,598,518 13,298 78.3 82.6  6.04  78.14
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Production 2008
Q1, 2008          78,157  304  0.71   504,669  1,433 66.2 79.8 10.01  84.75
Q2, 2008          86,391  257  0.77   517,077  1,705 72.8 83.0  9.62  75.96
Q3, 2008          96,721  270  0.93   625,094  2,465 75.4 84.9  9.55  80.11
Q4, 2008          90,927  288  0.98   696,075  2,416 82.2 88.4  7.43  81.25
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Total            352,196  279  0.85 2,342,915  8,019 74.5 84.2  9.03  80.42
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---------------------------------------------------------------------------

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Q3, 2010 : Q3, 2009   36%  -2%    2%       20%    28%  -7%  -8%   14%     3%
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---------------------------------------------------------------------------
Q3, 2010 : Q2, 2010    2%  -1%   10%       -4%     3%  -5%  -8%    0%    -6%
---------------------------------------------------------------------------
---------------------------------------------------------------------------

---------------------------------------------------------------------------
YTD 2010 : YTD 2009   35%   0%   14%       31%    47%  -3%  -6%   -6%     6%
---------------------------------------------------------------------------
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Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
hugh@edrsilver.com
www.edrsilver.com

NetSol Technologies (NTWK) Announces First Quarter Fiscal 2011 Financial Results

CALABASAS, Calif., Nov. 10, 2010 (GLOBE NEWSWIRE) — NetSol Technologies, Inc. (“NetSol” or the “Company”) (Nasdaq:NTWK) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced its financial results for the first fiscal quarter ended September 30, 2010. The Company posted revenues of $8.4 million and quarterly net income of $1.6 million, or $0.04 per diluted share. These results compare to revenue of $7.6 million and a quarterly net loss of $0.3 million, or $0.01 per diluted share, for the same period last year. Summary financial data is provided below:

First Quarter Fiscal 2011 Financial Highlights

• Revenues for the first quarter of fiscal year 2011 increased by 10.2% year-over-year to $8.4 million, up from $7.6 million in the first quarter of fiscal 2010

• License fees totaled $3.5 million or 41% of total revenues

• Maintenance fees totaled $1.7 million or 20% of total revenues

• Service fees totaled $3.3 million or 39% of total revenues

• Net income for the first quarter increased to $1.6 million, compared with a net loss of $0.3 million for the first quarter of fiscal 2010
• Gross margin for the first quarter was 62.1% based on gross profit of $5.2 million, compared with a 53.3% margin in the same period last year
• Operating income and operating margin for the first quarter were $2.0 million and 24.1%, respectively, compared to $1.1 million and 15.0%, respectively, in the first quarter of fiscal 2010
• EBITDA totaled $2.8 million or $0.06 per diluted share, versus EBITDA of $1.2 million, or $0.04 per diluted share, in the year-ago period
• Earnings per diluted share were $0.04 for the quarter, compared with a loss per share of $0.01 in the same period a year ago

EBITDA is defined as earnings before interest, taxes, depreciation and amortization. The Company uses EBITDA as a measure of the Company’s operating trends. Investors are cautioned that EBITDA is not a measure of liquidity or of financial performance under Generally Accepted Accounting Principles (GAAP). The EBITDA numbers presented may not be comparable to similarly titled measures reported by other companies. EBITDA, while providing useful information, should not be considered in isolation or as an alternative to net income or cash flows as determined under GAAP. Consistent with the SEC’s Regulation G, the non-GAAP measures in this press release have been reconciled to the nearest GAAP measure, and this reconciliation is located under the financial table heading “Reconciliation to GAAP.”

Najeeb Ghauri, Chairman and CEO of NetSol Technologies, commented, “We are very pleased with the double-digit sales growth and improved margins we achieved during the first quarter, which reflect the successful execution of our business strategy. Our global client backlog continues to grow steadily, particularly in key emerging markets such as China and Thailand. We are poised to become a dominant IT force in China and other markets of Asia and to experience continued growth in North America and Europe. Additionally, both existing and prospective customers have expressed strong interest in our next-generation NetSol Financial Suite solution, R2, which we expect to begin contributing to our revenues by the end of fiscal 2011. We are very excited about this new product offering and believe it will offer our customers an even greater return on their IT investment.”

Mr. Ghauri continued, “We are on track to achieve our previously stated guidance of $40 million to $44 million in revenues and $0.15 to $0.20 EPS for the fiscal year. Economic indicators in both emerging and mature markets are very encouraging, and we are more bullish than ever in our outlook for fiscal 2011 and beyond.”

First Quarter Fiscal 2011 Results of Operations

Revenues

Revenues for the three months ended September 30, 2010 were $8.4 million as compared to $7.6 million for the three months ended September 30, 2009. The increase of $0.8 million, or 10.2%, was primarily due to an increase in global demand for the Company’s flagship product, NetSol Financial Suite (NFS)™. Net revenues from license fees increased 36.3% year-over-year to $3.5 million as compared to $2.6 million for the same period a year ago. The first quarter is historically NetSol’s softest quarter for sales due to seasonality.

Gross Profit

Gross profit for the three months ended September 30, 2010 was $5.2 million as compared to $4.1 million for the three months ended September 30, 2009. The increase of $1.1 million, or 28.5%, was primarily due to an increase in revenues and continued cost rationalization measures. Costs of sales for the three-month period were $3.2 million as compared to $3.6 million for the same period a year ago. The Company’s gross margin was 62.1% and 53.3% for the three months ended September 30, 2010 and 2009, respectively. The increase in gross margin was primarily due to management’s efforts to streamline the delivery and implementation of its products using its BestShoring® global delivery model.

Income from Operations

Operating income for the three months ended September 30, 2010 amounted to $2.0 million as compared to $1.1 million for the three months ended September 30, 2009. The increase of $0.9 million was primarily due to improved revenues and gross margins. Operating expenses for the three-month period totaled $3.2 million as compared to $2.9 million for the same period a year ago.

Net Income

Net income for the three months ended September 30, 2010 was $1.6 million as compared to a net loss of $0.3 million for the three months ended September 30, 2009, due to the reasons set forth above. Earnings per basic and diluted share were $0.04 for the quarter, compared with a loss per share of $0.01 for the same period a year ago.

Liquidity and Capital Resources

As of September 30, 2010, the Company had current assets of $36.4 million and current liabilities of $23.8 million. Cash and cash equivalents totaled $2.2 million as of September 30, 2010. The Company’s shareholders’ equity at September 30, 2010 was $50.6 million. The Company used $0.1 million in cash for operating activities during the three months ended September 30, 2010, as compared to $0.7 million in cash provided by operating activities for the three months ended September 30, 2009. The Company used $2.7 million in cash for investing activities during the three months ended September 30, 2010, as compared to $1.7 million for the same period in 2009. The Company generated $0.95 million in cash from financing activities for the three months ended September 30, 2010, as compared to $0.6 million for the same period in 2009.

First Quarter Fiscal 2011 Business Highlights

— NetSol agreed upon terms for a new global framework agreement with a major captive auto finance company. Under the terms, NetSol would expand its service delivery to the client in nine countries and install the complete NFS™ software solution in Japan, Korea and India.

— Existing Chinese clients have made a record number of requests for enhancements to their NFS™ platforms, indicating an increasing need to perform complex transactions. NetSol plans to move its Beijing office to larger premises and implement an accelerated local hiring program to service its growing support, sales and marketing needs in China.

— NetSol achieved CMMI (Capability Maturity Model Integration) Level 5 recertification from the Software Engineering Institute at Carnegie Mellon University in Pittsburgh. CMMI is an internationally recognized quality assurance standard for enhancing and evaluating an organization’s software development processes. Maturity Levels range from 1 to 5, with 5 being the highest ranking.

— In July, NetSol received a proposal to transfer ownership of its two wholly owned subsidiaries, NetSol Technologies Europe (“NTE”) and NetSol Technologies North America, Inc. (“NTNA”), to NetSol Technologies Ltd. (“NTPK”), the Company’s majority-owned subsidiary in Pakistan. NTPK is proposing to purchase the two subsidiaries from its parent company at a premium to book value in an all-stock transaction. If approved, the internal sale of both NTE and NTNA would increase NetSol’s ownership stake in NTPK from 58% to 76%. The planned acquisition is currently under review by the Securities and Exchange Commission of Pakistan.

— The Company signed a LeaseSoft license upgrade agreement with Singers Healthcare Finance Ltd., one of the UK’s leading providers of leasing solutions to the healthcare industry. Under the terms of the agreement, Singers Healthcare Finance Ltd. will upgrade to the latest version of NetSol’s LeaseSoft asset management solution.

— NetSol announced that North American sales of enhancements to its LeasePak lease management solution had increased significantly from the quarter ended in June 2010 into the first quarter of fiscal 2011. Enhancements include the purchase of additional services and software upgrades.

— NetSol announced the successful implementation of its NFS™ solution by Minsheng Financial Leasing Co., Ltd., a leading financial leasing company in China. The implementation marks NetSol’s entry into China’s financial leasing sector, which experienced a growth rate of 138.7% in 2009.

Financial Outlook for Fiscal Year 2011

The company reaffirms its previously stated guidance for its fiscal year 2011 financial results, projecting revenues of $40 million to $44 million and diluted EPS of $0.15 to $0.20 for the fiscal year ending June 30, 2011.

Conference Call and Webcast Information

NetSol will host a conference call today, November 10, 2010, at 11:00 a.m. EST (8:00 a.m. Pacific) to review the Company’s quarterly financial and operational performance. Najeeb Ghauri, Chairman and Chief Executive Officer of NetSol Technologies, will host the call.

To participate in the call please dial (877) 941-2068, or (480) 629-9712 for international calls, approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found at the Company’s website at http://www.netsoltech.com.

A replay of the call will be available for two weeks from 2:00 p.m. EST on November 10, 2010 until 11:59 p.m. EST on November 24, 2010. The number for the replay is (877) 870-5176, or (858) 384-5517 for international calls; the passcode for the replay is 4383287. In addition, a recording of the call will be available via the Company’s website at http://www.netsoltech.com for one year.

About NetSol Technologies, Inc.

NetSol Technologies, Inc. (Nasdaq:NTWK) (Nasdaq Dubai:NTWK) is a worldwide provider of global IT and enterprise application solutions. Since its inception in 1995, NetSol has used its BestShoring™ practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Specialized by industry, these product and services offerings include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. NetSol’s commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by 162 companies worldwide. NetSol Technologies’ clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. Headquartered in Calabasas, California, NetSol Technologies has operations and offices in Alameda, Adelaide, Bangkok, Beijing, Karachi, Lahore, London, and Riyadh.

To learn more about NetSol, visit www.netsoltech.com.

The NetSol Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7396

NetSol Technologies, Inc. Forward-looking Statements

This press release may contain forward-looking statements relating to the development of the Company’s products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “believe,” “expect,” “anticipate,” “intend,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company’s actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.

CONTACT:  RedChip Companies, Inc.
          Investor Relations Contact:
          Dave Gentry
          800-733-2447, Ext. 104
          407-644-4256, Ext. 104
          info@redchip.com
          http://www.redchip.com

FDA Approves Bionovo’s (BNVI) Clinical Development Plan for Menerba

Company, Tom Chesterman Of Bionovo, Inc., +1- 510-601-2000, investor@bionovo.com; Or Investors, Joe Diaz, Robert Blum Or Joe Dorame, All Of Lytham Partners, LLC, +1-602-889-9700, bnvi@lythampartners.com, For Bionovo, Inc.

Cimatron (CIMT) Reports Strong Third Quarter Results with Net Profit of $0.9M on a Non-GAAP Basis

GIVAT SHMUEL, Israel, November 10, 2010 /PRNewswire-FirstCall/ — Cimatron Limited (NASDAQ: CIMT) (“Cimatron” or the “Company”), a leading provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, today announced financial results for the third quarter and first nine months of 2010.

    Financial highlights

    - Q3/10 total revenue up 26% year-over-year on a constant currency basis

    - Q3/10 new licenses revenue up 51% year-over-year on a constant currency
      basis

    - Operating results in the first nine months of 2010 improved by $2.5M
      year-over-year

    - $4.3 million positive cash flow from operating activities in the first
      nine months of 2010, an 86% year-over-year increase

    - $10.2M cash balance at end of Q3/10

Commenting on the results, Danny Haran, President and Chief Executive Officer of Cimatron, said “We are very pleased with the strong third quarter results. We have seen solid growth in all our territories and all product lines, in what seems more and more like a sustainable market recovery. Traditionally, the third quarter is the weakest quarter of each year, due to the long summer vacations. This year presents a notable exception, with quarter-over-quarter improvement in all parameters from the second to the third quarter. The combination of continued revenue growth and tight budget control results in significant profitability improvement and strong cash flow. We are especially excited about the rapid growth in sales of new licenses, which is the best indication of market confidence and change in the business environment. Early indications suggest that this trend continues into Q4, which is traditionally the strongest quarter of each year”, concluded Mr. Haran.

The following provides details on Cimatron’s GAAP and non-GAAP results for the third quarter and first nine months of 2010:

GAAP:

Revenues for the third quarter of 2010 were $8.7 million, compared to $7.2 million recorded in the third quarter of 2009. For the first nine months of 2010, revenues were $25.1 million, compared to $23.2 million in the same period of 2009.

Gross Profit for the third quarter of 2010 was $7.3 million as compared to $5.8 million in the same period in 2009. Gross margin in the third quarter of 2010 was 84% of revenues, compared to a gross margin of 80% in the same quarter of 2009. For the first nine months of 2010, gross profit was $20.8 million, compared to $18.7 million in the same period of 2009. Gross margin for the nine months ended on September 30th, 2010 was 83% compared to a gross margin of 81% in the first nine months of 2009.

Operating profit in the third quarter of 2010 was $479 thousand, compared to an operating loss of $(901) thousand in the third quarter of 2009. In the first nine months of 2010, Cimatron recorded an operating profit of $726 thousand, compared to an operating loss of $(1.73) million in the first nine months of 2009.

Net Profit for the third quarter of 2010 was $320 thousand, or $0.04 per diluted share, compared to a net loss of $(731) thousand, or $(0.08) per diluted share recorded in the same quarter of 2009. In the first nine months of 2010 net profit was $498 thousand, or $0.06 per diluted share, compared to a net loss of $(1.38) million, or $(0.15) per diluted share, in the first nine months of 2009.

Non-GAAP:

Revenues for the third quarter of 2010 were $8.7 million, compared to $7.2 million recorded in the third quarter of 2009. For the first nine months of 2010, revenues were $25.1 million, compared to $23.2 million in the same period of 2009.

Gross Profit for the third quarter of 2010 was $7.5 million as compared to $6.0 million in the same period in 2009. Gross margin in the third quarter of 2010 was 85% of revenues, compared to a gross margin of 82% in the same quarter of 2009. In the first nine months of 2010, gross profit was $21.3 million, compared to $19.2 million in the first nine months of 2009. Gross margin for the nine months ended on September 30th, 2010 was 85%, compared to 83% in the first nine months of 2009.

Operating Profit in the third quarter of 2010 was $725 thousand, compared to an operating loss of $(654) thousand in the third quarter of 2009. In the first nine months of 2010, Cimatron reports an operating profit of $1.46 million, compared to operating loss of $(989) thousand in the first nine months of 2009.

Net profit for the third quarter of 2010 was $874 thousand, or $0.10 per diluted share, compared to a net loss of $(575) thousand, or $(0.06) per diluted share recorded in the same quarter of 2009.

In the first nine months of 2010, net profit was $1.36 million, or $0.15 per diluted share, compared to a net loss of $(907) thousand, or $(0.10) per diluted share, in the first nine months of 2009.

Conference Call

Cimatron’s management will host a conference call today, November 10th, 2010 at 9:00 EST, 16:00 Israel time. On the call, management will review and discuss the results, and will answer questions by investors.

To participate, please call one of the following teleconferencing numbers. Please begin placing your call at least 5 minutes before the conference call commences.

                              USA: +1-888-668-9141
                          International: +972-3-9180609
                               Israel: 03-9180609

For those unable to listen to the live call, a replay of the call will be available from the day after the call at the investor relations section of Cimatron’s website, at: http://www.cimatron.com

Reconciliation between results on a GAAP and Non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income included herein. Non-GAAP financial measures consist of GAAP financial measures adjusted to include recognition of deferred revenues of acquired companies and to exclude amortization of acquired intangible assets and deferred income tax, as well as certain business combination accounting entries. The purpose of such adjustments is to give an indication of our performance exclusive of non-cash charges and other items that are considered by management to be outside of our core operating results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.

Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. We believe that these non-GAAP measures help investors to understand our current and future operating performance, especially as our two most recent acquisitions have resulted in amortization and non-cash items that have had a material impact on our GAAP results. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.

About Cimatron

With over 25 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM solutions for mold, tool and die makers, as well as manufacturers of discrete parts. Cimatron is committed to providing comprehensive, cost-effective solutions that streamline manufacturing cycles, enable collaboration with outside vendors, and ultimately shorten product delivery time.

The Cimatron product line includes the CimatronE and GibbsCAM brands with solutions for mold design, die design, electrodes design, 2.5 to 5 axes milling, wire EDM, turn, Mill-turn, rotary milling, multi-task machining, and tombstone machining. Cimatron’s subsidiaries and extensive distribution network serve and support customers in the automotive, aerospace, medical, consumer plastics, electronics, and other industries in over 40 countries worldwide.

Cimatron is publicly traded on the NASDAQ exchange under the symbol CIMT. For more information, please visit the company web site at: http://www.cimatron.com.

Safe Harbor Statement

This press release includes forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate to the Company’s plans, objectives and expected financial and operating results. The words “may,” “could,” “would,” “will,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” and similar expressions or variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. The risks and uncertainties that may affect forward looking statements include, but are not limited to: currency fluctuations, global economic and political conditions, marketing demand for Cimatron products and services, long sales cycle, new product development, assimilating future acquisitions, maintaining relationships with customers and partners, and increased competition. For more details about the risks and uncertainties that relate to the Company’s business, refer to the Company’s filings with the Securities and Exchange Commission. The Company cannot assess the impact of or the extent to which any single factor or risk, or combination of them, may cause. Cimatron undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

                          CIMATRON LIMITED
                  CONSOLIDATED STATEMENTS OF INCOME
         (US Dollars in thousands, except for per share data)

                             Three months ended  Nine months ended
                                 September 30,       September 30,
                                2010      2009      2010      2009

    Total revenue              8,745     7,229    25,061    23,195

    Total cost of revenue      1,419     1,420     4,242     4,467

    Gross profit               7,326     5,809    20,819    18,728

    Research and development
    expenses, net              1,493     1,497     4,322     4,389

    Selling, general and
    administrative expenses    5,354     5,213    15,771    16,069
    Operating income (loss)      479      (901)      726    (1,730)

    Financial income
    (expenses), net              236        (8)       54       (17)

    Taxes on income             (376)      144      (256)      310

    Other                          1        (3)       (7)        -

    Net income (loss)            340      (768)      517    (1,437)

    Less: Net (income) loss
    attributable to the
    noncontrolling interest      (20)       37       (19)       60

    Net income (loss)
    attributable to
    Cimatron's shareholders    $ 320    $ (731)    $ 498  $ (1,377)
    Net income (loss) per
    share - basic and diluted $ 0.04   $ (0.08)   $ 0.06   $ (0.15)
    Weighted average number
    of shares outstanding

      Basic EPS
      (in thousands)           8,961     9,131     9,014     9,178

      Diluted EPS
      (in thousands)           8,961     9,131     9,014     9,178

                                       CIMATRON LIMITED
                     RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION
                     (US Dollars in thousands, except for per share data)

                           Three months ended         Three months ended
                              September 30,              September 30,

                                 2010                        2009
                        GAAP       Adj. NON-GAAP     GAAP     Adj. NON-GAAP

    Total revenue      8,745         -    8,745     7,229       -     7,229

    Total cost of
    revenue(1)         1,419      (147)   1,272     1,420    (147)    1,273

    Gross profit       7,326       147    7,473     5,809     147     5,956

    Research and
    development
    expenses, net      1,493         -    1,493     1,497       -     1,497

    Selling, general
    and administrative
    expenses(1)        5,354       (99)   5,255     5,213    (100)    5,113
    Operating income
    (loss)               479       246      725      (901)    247      (654)

    Financial income
    (expenses), net      236         -      236        (8)      -        (8)

    Taxes on income(2)  (376)      308      (68)      144     (91)       53

    Other                  1         -        1        (3)      -        (3)

    Net income (loss)    340       554      894      (768)    156      (612)

    Less: Net (income)
    loss attributable
    to the noncontrolling
    interest             (20)        -      (20)       37       -        37

    Net income (loss)
    attributable to
    Cimatron's
    shareholders       $ 320     $ 554    $ 874    $ (731)  $ 156    $ (575)
    Net income (loss)
    per share - basic
    and diluted       $ 0.04             $ 0.10   $ (0.08)          $ (0.06)

    Weighted average
    number of shares
    outstanding
      Basic EPS
      (in thousands)   8,961              8,961     9,131             9,131
      Diluted EPS
      (in thousands)   8,961              8,961     9,131             9,131

                                       CIMATRON LIMITED
                     RECONCILIATION BETWEEN GAAP AND NON-GAAP INFORMATION
                     (US Dollars in thousands, except for per share data)

                           Nine months ended          Nine months ended
                              September 30,              September 30,
                                 2010                       2009

                         GAAP     Adj. NON-GAAP      GAAP    Adj.  NON-GAAP

    Total revenue      25,061       -    25,061    23,195      -     23,195

    Total cost of
    revenue(1)          4,242    (441)    3,801     4,467   (441)     4,026

    Gross profit       20,819     441    21,260    18,728    441     19,169

    Research and
    development
    expenses, net       4,322       -     4,322     4,389      -      4,389

    Selling, general
    and administrative
    expenses(1)        15,771    (297)   15,474    16,069   (300)    15,769
    Operating income
    (loss)                726     738     1,464    (1,730)   741       (989)

    Financial income
    (expenses), net        54       -        54       (17)     -        (17)

    Taxes on income(2)   (256)    126      (130)      310   (271)        39

    Other                  (7)      -        (7)        -      -          -

    Net income (loss)     517     864     1,381    (1,437)   470       (967)

    Less: Net (income)
    loss attributable
    to the noncontrolling
    interest              (19)      -       (19)       60      -         60

    Net income (loss)
    attributable to
    Cimatron's
    shareholders        $ 498   $ 864   $ 1,362  $ (1,377) $ 470     $ (907)
    Net income (loss)
    per share - basic
    and diluted        $ 0.06            $ 0.15   $ (0.15)          $ (0.10)

    Weighted average
    number of shares
    outstanding
      Basic EPS
      (in thousands)    9,014             9,014     9,178             9,178
      Diluted EPS
      (in thousands)    9,014             9,014     9,178             9,178

                               CIMATRON LIMITED
                         CONSOLIDATED BALANCE SHEETS
                          (US Dollars in thousands)

                                            September 30,      December 31,
                                               2010               2009

    ASSETS

    CURRENT ASSETS:
      Total cash, cash equivalents and
      short-term investments                  $ 10,173           $ 6,684
      Trade receivables                          5,462             5,422
      Other current assets                       2,752             3,308
        Total current assets                    18,387            15,414
        Deposits with insurance companies
        and severance pay fund                   3,126             2,935
        Net property and equipment                 931             1,046
        Total other assets                      12,800            13,285
          Total assets                        $ 35,244          $ 32,680

    LIABILITIES AND SHAREHOLDERS' EQUITY
    CURRENT LIABILITIES:
      Short-term bank credit                     $ 114             $ 456
      Trade payables                             1,984             1,064
      Accrued expenses and other liabilities     7,136             6,991
      Deferred revenues                          4,492             2,397
        Total current liabilities               13,726            10,908

    LONG-TERM LIABILITIES:
      Accrued severance pay                      4,136             4,104
      Long-term loan                               147               204
      Deferred tax liability                     1,093             1,365
        Total long-term liabilities              5,376             5,673

      Total shareholders' equity                16,142            16,099
        Total liabilities and shareholders'
        equity                                $ 35,244          $ 32,680

                                CIMATRON LIMITED
                  STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                           (US Dollars in thousands)

                                                            Accumulated
                                               Additional      other
                      Noncontrolling     Share    paid-in  comprehensive
                            Interest   capital    capital  income (loss)
    Balance at
    December 31, 2009         $ (48)     $ 304   $ 18,204          $ 75
    Changes during the
    nine months ended
    September 30, 2010:
    Net income (loss)            19
    Exercise of share
    options                                  -         11
    Unrealized loss on
    derivative instruments                                         (116)
    Other                                                           281
    Stock option compensation                          45
    Investment in treasury
    stock
    Foreign currency
    translation adjustment                                         (485)
    Total comprehensive
    income
    Balance at September 30,
    2010                      $ (29)     $ 304   $ 18,260        $ (245)

    Table cont'd.

                                CIMATRON LIMITED
                  STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                           (US Dollars in thousands)

                          Retained
                          earnings                                  Total
                      (accumulated   Treasury  Comprehensive    shareholders'
                           deficit)     stock   income (loss)      equity
    Balance at
    December 31, 2009     $ (1,894)   $ (542)                     $ 16,099
    Changes during the
    nine months ended
    September 30, 2010:
    Net income (loss)          498                     517             517
    Exercise of share
    options                                                             11
    Unrealized loss on
    derivative instruments                            (116)           (116)
    Other                                              281             281
    Stock option
    compensation                                                        45
    Investment in
    treasury stock                      (210)                         (210)
    Foreign currency
    translation adjustment                            (485)           (485)
    Total comprehensive                                197
    income
    Balance at
    September 30, 2010    $ (1,396)   $ (752)                     $ 16,142

                              CIMATRON LIMITED
                          STATEMENTS OF CASH FLOWS
                          (US Dollars in thousands)

                                                       Nine months ended
                                                          September 30,
                                                         2010      2009

    Cash flows from operating activities:

    Net income (loss)                                   $ 517   $(1,437)

    Adjustments to reconcile net loss
    to net cash provided by operating activities:
    Depreciation and amortization                       1,131     1,224
    Increase (decrease) in accrued severance pay           (7)      301
    Gain from sale of property and equipment, net           5         -
    Stock option compensation                              45        54
    Deferred taxes, net                                   176      (259)

    Changes in assets and liabilities:
    Decrease in accounts receivable and
    prepaid expenses                                      114     2,245
    Decrease (increase) in inventory                        3       (20)
    Increase in deposits with insurance
    companies and severance pay fund                     (191)     (241)
    Increase in trade payables, accrued expenses and
    other liabilities                                   2,540       457
    Net cash provided by operating activities           4,333     2,324

    Cash flows from investing activities:
    Purchase of property and equipment                   (271)     (264)
    Net cash used in investing activities                (271)     (264)

    Cash flows from financing activities:
    Short-term bank credit                               (367)      (33)
    Long-term bank credit                                 (66)       (4)
    Proceeds from issuance of shares upon
    exercise of options                                    11         -
    Investment in treasury stock                         (210)     (128)
    Net cash used in financing activities                (632)     (165)

    Net increase in cash and cash equivalents           3,430     1,895
    Effect of exchange rate changes on cash                59      (108)
    Cash and cash equivalents at beginning of period    6,684     5,727

    Cash and cash equivalents at end of period       $ 10,173   $ 7,514

    Appendix A - Non-cash transactions
      Purchase of property on credit                     $ 28      $ 20

    Contact:

    Ilan Erez, Chief Financial Officer
    Cimatron Ltd.
    Tel.: +972-73-2370237
    E-mail: ilane@cimatron.com

Uranium Energy Corp (UEC) Commences Major Drilling Program at Salvo Project in South Texas

CORPUS CHRISTI, TX, Nov. 10 /PRNewswire/ – Uranium Energy Corp (NYSE AMEX: UEC; the “Company”) is pleased to announce the start of drilling at the Company’s 100%-controlled Salvo Project in Bee County, Texas. The objective of the current drilling program is to verify the historic resource and to expand on the resource by drilling new areas of mineralization. The exploration drill plan will consist of two phases, each utilizing two rigs.

Phase One will consist of approximately 50 holes, plus 5 core holes, which the Company expects, with favourable results, will culminate in an updated NI 43-101 resource estimate being available during the first quarter of 2011. First drilling started two days ago.

Phase Two will build upon the Phase One results, and include an additional 140 holes, with an estimated completion date during the second quarter of 2011. Following Phase Two drilling, the Company expects, again with favourable results, that an updated NI 43-101 resource estimate will be available by mid-2011.

The Salvo project consists of 1,513 acres of continuous leases located about ten miles southwest of Beeville, Texas. The Salvo lease is approximately 50 miles from the Company’s Hobson processing facility. Management anticipates that any mineral resource identified at Salvo will be extracted using in-situ recovery (ISR) methods and processed at the Hobson plant.

The Company earlier announced (see release dated July 19, 2010) an independent NI 43-101-compliant historic resource of 1,505,000 pounds of U3O8 based on 314 drill holes performed in the 1980s by Mobil Oil and Uranium Resources Inc. The historical resource estimate was performed using industry-accepted standards for its time. The Company is not treating the historical estimates as current mineral resources and the historical estimates should not be relied upon.

Clyde Yancey, VP of Exploration, said, “We are excited to get on the ground at Salvo and to verify and expand on the prospective resource here. First, historic disequilibrium factors (DEF), which were not applied to the historic resource, indicate a potential expansion by one-half or more. We will verify historic average DEF calculations and increase our understanding here. We also plan to drill prospective new zones aggressively.”

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed by Andrew Kurrus, P.G., Chief Geologist, Texas for the Company, a QP under NI 43-101.

About Uranium Energy Corp

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

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

Notice to U.S. Investors

The mineral resources referred to herein have been estimated in accordance with the definition standards on mineral resources of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in NI 43-101 and are not compliant with U.S. Securities and Exchange Commission (the “SEC”) Industry Guide 7 guidelines.  In addition, measured mineral resources, indicated mineral resources and inferred mineral resources, while recognized and required by Canadian regulations, are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC.  Accordingly, we have not reported them in the United States. Investors are cautioned not to assume that any part or all of the mineral resources in these categories will ever be converted into mineral reserves.  These terms have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility.  In particular, it should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability.  It cannot be assumed that all or any part of measured mineral resources, indicated mineral resources or inferred mineral resources will ever be upgraded to a higher category.  In accordance with Canadian rules, estimates of inferred mineral resources cannot form the basis of feasibility or other economic studies.  Investors are cautioned not to assume that any part of the reported measured mineral resources indicated mineral resources or inferred mineral resources referred to in this news release and in the Technical Report are economically or legally mineable.

Safe Harbor Statement

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

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

Great Basin (GBG) Encounters Bonanza Grades in Blanket Style Mineralization at Hollister

VANCOUVER, Nov. 9 /PRNewswire/ – Great Basin Gold Ltd. (“Great Basin” or the “Company”), (TSX:GBG.to – News) announces that trial mining in the Blanket Zone above the Main Clementine vein #18 at its Hollister project in Nevada has encountered bonanza grades of gold and silver.  The Company cautions investors and readers that we are making this announcement out of an abundance of concern over interpretation of this information and, as the information may be known locally in the region of the mine site, the Company felt obligated to make it public.

Channel sampling carried out in conjunction with trial mining in the Blanket Zone has encountered the bonanza grades over a strike distance of 170 feet (57 meters).Channel samples taken every 10 feet (3 meters) gave values ranging from a low of 1.5 oz/ton(52.0g/t) Au and 3.2 oz/ton(111.9 g/t) Ag to a high of 2,560.4 oz/ton (88,845.9 g/t) Au and 1,829.8 oz/ton (63,494.1 g/t) Ag over channel widths from 0.3 to 2 feet wide.  The current stope is continuously mineralized along  its 180-foot (60-meter) length. Diluted over 3.5 feet (the width of the stope development), the average sample values were 66.4 oz/ton (2,404 g/t) Au and 78.5oz/ton (2,723.9 g/t) Ag. Muck piles have also been sampled; grabs are taken over the pile to collect as representative a sample as possible (between 10-15 lb. are collected every 10 feet). The fully diluted value of the muck samples taken from the stope to date averages 22.3 oz/t (773.8 g/t) Au and 23.4 oz/ton (811.9 g/t) Ag.

The Blanket style mineralization at Hollister is typified by very fine grained disseminated gold hosted by tuffaceous horizons in the Tertiary (10-15 million years old) volcanics that lie unconformably on the basement Ordovician (~430 million year old) metasediments.  These zones of mineralization are thought to be “mineralization plumes” directly related to the activity of fluid which has focused in structures that control the underlying epithermal quartz – adularia veins, and propagated into the Tertiary volcanic pile.

Blanket mineralization was previously exploited by opencast methods during 1990-1992 by the Touchstone – Galactic Joint Venture.  According to historic records, 115,000 ounces of gold were produced by a heap leach operation that treated low grade ore (~0.003 oz/ton or 1 g/t Au).  Great Basin modeled all 46 drill intersections above the Tertiary unconformity, and +1 g/t grade shells generally locate above known mineralized quartz – adularia veins.   In general, this style has been located in the first ~30 feet (10 meters) above the unconformity, and may have dimensions in excess of 150 feet (50 meters) long and 60 feet (20 meters) wide. Grades from these 46 drill intersections average 0.45 oz/ton Au (15.4 g/t) and 1.7 oz/ton Ag (59 g/t).

Extrapolation of stope 3000N 1E to surface (approximately 200 feet  or 67 meters  vertically above), places this zone 300 feet (100 meters) west of the historical Clementine mercury mine.  It supports the near surface working metal zonation and gold deposition model for the Hollister mine, and indicates additional exploration potential.

Ferdi Dippenaar, President and CEO, commented: “In the past, we have identified the Blanket Zone as a target area worth exploring, and trial mining at the top of vein #18 has turned out to be a great way to test the prospective nature of this style of mineralization. Although we have encountered a limited amount of this high grade material through trial stoping, drilling is underway to determine the full extent of mineralization. More information will be made available as and when it becomes available. Based on our experience in the Main Clementine vein #18, we are evaluating the possibility of returning to previously stoped out areas above the Gwenivere high grade veins.”

Phil Bentley, Pr.Sci.Nat. (SACNAS) Vice President for Geology and Exploration for the Company and a qualified person, and Johan Oelofse, PrEng, FSAIMM, Chief Operating Officer for the Company and a qualified person, have reviewed this news release on behalf of Great Basin.

Great Basin is a mining company engaged in the exploration and development of gold properties. The Company is currently focused on bringing two mines in the world’s two richest gold producing regions into production. The Hollister gold project is located on the Carlin Trend in Nevada, USA and the Burnstone gold mine is located in the Witwatersrand Basin goldfield of South Africa.

Ferdi Dippenaar
President and CEO

No regulatory authority has approved or disapproved the information contained in this news release.

Cautionary and Forward Looking Statement Information

This document contains “forward-looking statements” that were based on Great Basin’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These include but are not limited to:

• uncertainties and costs related to the Company’s exploration and development activities, such as those associated with determining whether mineral resources or reserves exist on a property;
• uncertainties related to feasibility studies that provide estimates of expected or anticipated costs, expenditures and economic returns from a mining project; uncertainties related to expected production rates, timing of production and the cash and total costs of production and milling;
• uncertainties related to the ability to obtain necessary licenses, permits, electricity, surface rights and title for development projects;
• operating and technical difficulties in connection with mining development activities;
• uncertainties related to the accuracy of our mineral reserve and mineral resource estimates and our estimates of future production and future cash and total costs of production, and the geotechnical or hydrogeological nature of ore deposits, and diminishing quantities or grades of mineral reserves;
• uncertainties related to unexpected judicial or regulatory proceedings;
• changes in, and the effects of, the laws, regulations and government policies affecting our mining operations, particularly laws, regulations and policies relating to

• mine expansions, environmental protection and associated compliance costs arising from exploration, mine development, mine operations and mine closures;
• expected effective future tax rates in jurisdictions in which our operations are located;
• the protection of the health and safety of mine workers; and
• mineral rights ownership in countries where our mineral deposits are located, including the effect of the Mineral and Petroleum Resources Development Act (South Africa);

• changes in general economic conditions, the financial markets and in the demand and market price for gold, silver and other minerals and commodities, such as diesel fuel, coal, petroleum coke, steel, concrete, electricity and other forms of energy, mining equipment, and fluctuations in exchange rates, particularly with respect to the value of the U.S. dollar, Canadian dollar and South African rand;
• unusual or unexpected formation, cave-ins, flooding, pressures, and precious metals losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks);
• changes in accounting policies and methods we use to report our financial condition, including uncertainties associated with critical accounting assumptions and estimates;
• environmental issues and liabilities associated with mining including processing and stock piling ore;
• geopolitical uncertainty and political and economic instability in countries which we operate;  and
• labour strikes, work stoppages, or other interruptions to, or difficulties in, the employment of labour in markets in which we operate mines, or environmental hazards, industrial accidents or other events or occurrences, including third party interference that interrupt the production of minerals in our mines.

For further information on Great Basin , investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com.

HQ Sustainable Maritime Industries, Inc. (HQS) Announces Third Quarter 2010 Financial Results

SEATTLE, WA–(Marketwire – 11/09/10) – HQ Sustainable Maritime Industries, Inc. (AMEX:HQS – News) (“HQS” or the “Company”), a leading producer of functional, sustainable Tilapia biomass, including fish and personal healthcare products, today reported financial results for the third quarter ended September 30, 2010.

Third Quarter 2010 Results
For the third quarter of 2010, sales increased 27% to $28.2 million, compared to $22.2 million for the third quarter of the prior year. The increase in sales was primarily the result of strength from the new feed products added in late 2009.

Aquaculture product segment sales decreased by 4% to $13.4 million, compared to $14.0 million in the third quarter of 2009. The aquaculture product segment sales decrease is primarily related to an overall volume reduction of shrimp and ocean caught fish products sold in third quarter of 2010 compared to the third quarter of 2009, slightly offset by an increase in tilapia sales.

Health and bio-product segment sales increased by 6% to $8.6 million in the third quarter of 2010, compared to $8.1 million in the same period last year. In addition, the Company’s new feed mill generated sales of $6.2 million.

Gross profit for the third quarter of 2010 decreased 3% to $9.5 million, compared to $9.8 million in the third quarter of the prior year. The Company’s gross profit ratio decreased to 34% in the third quarter of 2010 versus 44.0% in the third quarter of 2009. Although higher sales were recognized in the third quarter of 2010, the gross profit ratio decreased mostly due to a lower mix of segment gross profit from the feed products operations in the third quarter of 2010.

For the third quarter of 2010 operating income increased by $2.9 million or 60% to $7.8 million compared to $4.9 million in the same period of the prior year. The operating income increase experienced in the third quarter of 2010 was primarily due to the recovery of bad debt, as the aging of receivables improved compared to the prior year period, which was slightly offset by lower gross profit. In the third quarter of 2010, the Company realized a recovery of $2.0 million in doubtful accounts compared to the recognition of a potential loss of $1.3 million in doubtful accounts in the third quarter of 2009.

EBITDA for the third quarter of 2010 increased 63% or $3.1 million to $8.0 million, compared to $4.9 million for the same period last year.

Net income for the third quarter of 2010 increased by 70% or $2.8 million to $6.9 million, or $0.40 per diluted share calculated on 16.6 million diluted shares compared to net income of $4.0 million, or $0.27 per diluted share calculated on 14.8 million diluted shares in the third quarter of 2009. Although the overall gross profit was less in the third quarter of 2010, the bad debt recovery had the most significant positive impact on the current quarterly results.

“We are extremely pleased with our third quarter financial performance. Our management team continues to execute on our operational and strategic initiatives for growth,” said Norbert Sporns, HQ Sustainable Maritime’s President and Chief Executive Officer. “We believe we have laid the groundwork for future financial and operational successes through our vertically integrated approach to all-natural Tilapia aquaculture bio-mass product development and distribution. We are very optimistic about our outlook for the remainder of 2010 and more importantly fiscal 2011 as we focus on long-term profitable growth and strong cash flow generation.”

Nine Month 2010 Results
For the first nine months of 2010, sales increased by 29% to $63.2 million compared to $49 million for the same period last year. The sales increase is primarily related to the growth in sales from the Company’s new feed product segment. Gross profit decreased 2% to $20.4 million compared to gross profit of $20.8 million for the first nine months of 2009. Operating income increased by 36% to $11.9 million compared to $8.7 million for the first nine months of 2009. Net income increased by 55% to $9.7 million, or $0.58 per diluted share, compared to net income of $6.2 million, or $0.47 per diluted share for the same period last year.

Balance Sheet
As of September 30, 2010, cash and cash equivalents were $64.5 million, compared to $37 million at December 31, 2009. As of September 30, 2010 the Company had no long term debt, except derivative liabilities mostly related to the warrants issued in August 2010, and which are non-cash.

Company Updates

• In October 2010, the Company expanded distribution of its Lillian’s Healthy Gourmet meals, which are now available in 33 Whole Foods Market and 106 Food City locations, as part of the Company’s retail supermarket chain rollout plan in North America. The Company will continue to work with its sales and marketing team to expand Lillian’s Healthy Gourmet consumer brand awareness and long-term distribution relationships in North America in the coming months.
• In September 2010, the Company opened its own subsidiary and health products retail store in Shanghai as part of its expanded direct outreach to the Chinese consumer. The Shanghai store is the first of several HQS health products retail stores that the Company plans to open in the Shanghai area, as well as additional store openings in other tier 1 cities.

Use of Non-GAAP Financial Information
This press release includes certain financial information EBITDA, which is not presented in accordance with GAAP. EBITDA was derived by taking earnings before financing costs, taxes, fair value change in derivative financial instruments and depreciation and amortization. The Company’s management believes that this non-GAAP measure provides investors with a better understanding of the Company’s historical results by focusing on its core business operations. Non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from non-GAAP information provided by other companies. A table included at the end of the attached financial tables provides a reconciliation of the non-GAAP financial information to the nearest GAAP measure.

Conference Call
The conference call is scheduled to begin at 8:30 a.m. ET on November 9, 2010. The call will be broadcast live over the Internet hosted at the Investor Relations section of HQ Sustainable Maritime’s website at http://www.hqfish.com/, and will be archived online through November 23, 2010. In addition, domestic participants may dial (877) 407-9039 and international participants may dial (201) 689-8470 to listen to the live broadcast.

A telephonic playback will be available from 11:30 a.m. ET, November 9, 2010, through November 23, 2010. Domestic participants may dial (877) 870-5176 and international participants may dial (858) 384-5517 to hear the playback. The passcode is 359589

About HQ Sustainable Maritime Industries, Inc.
HQ Sustainable Maritime Industries, Inc. is a leader in the production and marketing of functional, sustainable, biomass products focused on Tilapia aquaculture through vertically integrated operations. HQS practices cooperative farming of sustainable aquaculture, using all-natural enriched feeds. The Company produces and sells wholesale feed products as well as retail focused nutraceutical and health products including Omojo branded health products through direct and franchise sales in China. Additionally, the Company produces and sells Lillian’s Healthy Gourmet Meals and other fish products in the United States. The Company conducts fish processing, production and sales with operations based in the island province of Hainan, in the South China Sea. The Company holds HACCP and GMP certification from the U.S. FDA and the EU Code assignment of quality, permitting its products to be sold in these international markets. It has also achieved the ISO 9001 quality management system standards certification and the ISO 22000 certification for quality in food safety. The Aquaculture Certification Council, Inc. certified that HQS tilapia farming and processing standards met Best Aquaculture Practices and Moody International Certification Ltd. The Company’s certified co-op farming and processing are in conformity with the new Global G.A.P., the Global Partnership for Good Agriculture Practice, standards for Tilapia. The Chinese government gave organic certification to the Company’s tilapia processing, production, labeling, marketing and management system. The Feed Mill has been producing principally Tilapia feed since December of 2009 and is capable of 100,000 MT annual production. In addition to headquarters in Seattle, HQ has operational offices in Wenchang, Hainan. The Company’s website is: http://www.hqfish.com

Safe Harbor Statement
Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “intend,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of HQ Sustainable Maritime Industries, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company’s future operating results are dependent upon many factors, including but not limited to the Company’s ability to: (I) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company’s control; and (iv) other risk factors discussed in the Company’s periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under “Search for Company Filings.”

 

         HQ SUSTAINABLE MARITIME INDUSTRIES, INC. AND SUBSIDIARIES

       (INCORPORATED IN THE STATE OF DELAWARE WITH LIMITED LIABILITY)

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

                            Three Months Ended         Nine Months Ended
                         ------------------------  ------------------------
                          September    September    September    September
                           30, 2010     30, 2009     30, 2010     30, 2009
                         -----------  -----------  -----------  -----------

SALES                    $28,210,259  $22,156,867  $63,242,341  $49,007,445
COST OF SALES             18,703,247   12,398,275   42,831,177   28,183,355
                         -----------  -----------  -----------  -----------
GROSS PROFIT               9,507,012    9,758,592   20,411,164   20,824,090
SELLING AND DISTRIBUTION
 EXPENSES                    466,832      417,076    1,255,714      961,378
MARKETING AND
 ADVERTISING               1,269,337    1,703,664    3,347,667    4,469,149
GENERAL AND
 ADMINISTRATIVE EXPENSES   1,815,708    1,432,869    5,728,567    5,062,834
DEPRECIATION AND
 AMORTIZATION                128,082       30,795      332,487      298,335
(RECOVERY OF)/DOUBTFUL
 ACCOUNTS                 (1,977,968)   1,309,803   (2,103,630)   1,328,990
                         -----------  -----------  -----------  -----------
INCOME FROM OPERATIONS     7,805,021    4,864,385   11,850,359    8,703,404
FINANCE COSTS                259,567      155,175      266,998      840,400
FAIR VALUE CHANGE IN
 DERIVATIVE FINANCIAL
 INSTRUMENTS                (254,321)    (154,200)    (619,027)      75,798
OTHER INCOME                 (60,505)      (8,384)     (98,319)     (47,149)
                         -----------  -----------  -----------  -----------
INCOME BEFORE INCOME
 TAXES                     7,860,280    4,871,794   12,300,707    7,834,355
INCOME TAXES
  CURRENT                    993,614      824,360    2,601,108    1,586,831
  DEFERRED                         -            -            -            -
                         -----------  -----------  -----------  -----------
NET INCOME ATTRIBUTABLE
 TO SHAREHOLDERS           6,866,666    4,047,434    9,699,599    6,247,524
OTHER COMPREHENSIVE
 INCOME
  FOREIGN CURRENCY
   TRANSLATION
   (LOSS)/GAIN             2,108,492      (51,777)   2,391,070     (104,177)
                         -----------  -----------  -----------  -----------
COMPREHENSIVE INCOME     $ 8,975,158  $ 3,995,657  $12,090,669  $ 6,143,347
                         ===========  ===========  ===========  ===========
NET INCOME PER SHARE
  BASIC                  $     0.420  $     0.297  $     0.636  $     0.491
                         ===========  ===========  ===========  ===========
  DILUTED                $     0.399  $     0.268  $     0.577  $     0.472
                         ===========  ===========  ===========  ===========
WEIGHTED AVERAGE COMMON
 SHARE OUTSTANDING
  BASIC                   16,352,132   13,639,455   15,244,167   12,716,956
                         ===========  ===========  ===========  ===========
  DILUTED                 16,552,132   14,840,283   15,737,106   13,912,762
                         ===========  ===========  ===========  ===========

          HQ SUSTAINABLE MARITIME INDUSTRIES, INC. AND SUBSIDIARIES

       (INCORPORATED IN THE STATE OF DELAWARE WITH LIMITED LIABILITY)

                    CONDENSED CONSOLIDATED BALANCE SHEETS

                                                September 30,   December 31,
                                                     2010           2009
                                                 (Unaudited)     (Audited)
                                                -------------  -------------
ASSETS
CURRENT ASSETS:
  Cash and cash equivalents                     $  64,469,046  $  36,957,303
  Trade receivables, net of provisions             52,052,376     58,186,055
  Inventories                                       2,187,885      2,204,931
  Prepaid expenses                                  2,712,784      1,194,910
                                                -------------  -------------
TOTAL CURRENT ASSETS                              121,422,091     98,543,199
                                                -------------  -------------
PROPERTY, PLANT AND EQUIPMENT, NET                 20,235,954     20,150,568
CONSTRUCTION IN PROGRESS                                    -         21,384
INTANGIBLE ASSETS                                     979,031        979,738
OTHER ASSETS
  Deferred taxes                                      113,087        110,936
  Deferred expenses                                   236,821              -
                                                -------------  -------------
                                                      349,908        110,936
                                                -------------  -------------
TOTAL ASSETS                                    $ 142,986,984  $ 119,805,825
                                                =============  =============

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
  Accounts payable and accrued expenses         $   6,610,552  $   6,770,470
  Tax payable                                       1,022,718        566,054
  Due to directors                                    830,570              -
  Derivative liabilities                                    -        445,694
                                                -------------  -------------
TOTAL CURRENT LIABILITIES                           8,463,840      7,782,218
LONG-TERM LIABILITIES
  Derivative liabilities                            2,238,845              -
                                                -------------  -------------
TOTAL LIABILITIES                                  10,702,685      7,782,218
                                                -------------  -------------
SHAREHOLDERS' EQUITY
  Preferred stock, $0.001 par value, 10,000,000
   shares authorized, 100,000 shares issued and
   outstanding                                            100            100
  Common stock, $0.001 par value, 200,000,000
   shares authorized, 17,884,001 and 14,681,002
   shares issued and outstanding as of September
   30, 2010 and December 31, 2009                      17,884         14,681
  Additional paid-in capital                       87,441,271     79,281,209
  Accumulated other comprehensive income           11,899,826      9,508,756
  Retained earnings                                24,996,016     15,737,809
  Appropriation of retained earnings                7,929,202      7,481,052
                                                -------------  -------------
TOTAL SHAREHOLDERS' EQUITY                        132,284,299    112,023,607
                                                -------------  -------------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY      $ 142,986,984  $ 119,805,825
                                                =============  =============

         HQ SUSTAINABLE MARITIME INDUSTRIES, INC. AND SUBSIDIARIES

       (INCORPORATED IN THE STATE OF DELAWARE WITH LIMITED LIABILITY)

              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

           FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2010 AND 2009

                                                   2010            2009
                                              -------------   -------------
OPERATING ACTIVITIES
   Net income                                 $   9,699,599   $   6,247,524
   Non-cash items:
   Depreciation and amortization                  1,404,021       1,048,345
   Loss of disposal of fixed assets                  33,708               -
   Transfer from construction in progress            14,910               -
   Fair value change in derivative financial
    instruments                                    (619,027)        (75,798)
   Financial and other non-cash services                  -       1,115,823
   Change in non-cash working capital items:
      Inventories                                    17,047        (367,571)
      Trade receivables, net of provisions        6,133,679     (12,690,375)
      Prepaid expenses                           (1,752,419)       (262,416)
      Accounts payables and accrued expenses       (159,915)      1,512,242
      Tax payable                                   456,664          21,750
                                              -------------   -------------
Cash flow generated from (used in) operating
 activities                                      15,228,267      (3,450,476)
                                              -------------   -------------
INVESTING ACTIVITIES
   Acquisition of property, plant and
    equipment                                    (1,118,605)       (163,842)
   Sales proceeds of disposal of fixed
    assets                                            2,203               -
   Construction in progress                           6,679      (6,570,719)
   Deferred expenses                               (234,545)              -
                                              -------------   -------------
Cash flow used in investing activities           (1,344,268)     (6,734,561)
                                              -------------   -------------
FINANCING ACTIVITIES
   Net cash proceeds from issuance of common
    stock                                        10,411,077      10,774,720
   Due to directors                                 825,839        (197,803)
                                              -------------   -------------
Cash flow generated from financing
 activities                                      11,236,916      10,576,917
                                              -------------   -------------
NET CHANGE IN CASH AND CASH EQUIVALENTS          25,120,915         391,880
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
 CASH EQUIVALENTS                                 2,390,828         230,881
Cash and cash equivalents, beginning of
 period                                       $  36,957,303      54,920,548
                                              -------------   =============
Cash and cash equivalents, end of period      $  64,469,046   $  55,543,309
                                              =============   =============
SUPPLEMENTARY CASH FLOWS DISCLOSURES
   Interest paid                              $           -   $           -
                                              =============   =============
   Taxes paid                                 $   2,171,657   $   1,565,081
                                              =============   =============
SUPPLEMENTARY DISCLOSURE OF NON-CASH
 INVESTING AND FINANCING ACTIVITIES
   Common shares issued for services          $           -   $     461,624
                                              =============   =============

          HQ SUSTAINABLE MARITIME INDUSTRIES, INC. AND SUBSIDIARIES
       (INCORPORATED IN THE STATE OF DELAWARE WITH LIMITED LIABILITY)
                      RECONCILIATION OF EBITDA TO GAAP

                              Three Months Ended        Nine Months Ended
                           -----------------------   -----------------------
                             30-Sep       30-Sep       30-Sep       30-Sep
                              2010         2009         2010         2009
                           ----------   ----------   ----------   ----------
Net Income Attributable to
 Shareholders             $ 6,866,666  $ 4,047,434  $ 9,699,599  $ 6,247,524
Income Tax                    993,614      824,360    2,601,108    1,586,831
Fair Value Change in
 Derivative Financial
 Instruments                 (254,321)    (154,200)    (619,027)      75,798
Finance Costs                 259,567      155,175      266,998      840,400
Deprecation and
 Amortization                 128,082       30,795      332,487      298,335
                           ----------   ----------   ----------   ----------
        EBITDA              7,993,608    4,903,564   12,281,165    9,048,888
                           ==========   ==========   ==========   ==========

Paragon Software (LOGI) Selected by Logitech for High Definition Video Storage and Playback

IRVINE, CA — (Marketwire) — 11/09/10 — Paragon Software Group (PSG) has been chosen by Logitech (SWISS: LOGN) (NASDAQ: LOGI), a quality leader in peripheral devices, to provide its high performance cross-platform Universal File System Driver (UFSD) technology. An innovative leader in data security and data management solutions, Paragon will provide technology solutions in Logitech high-definition video products for consumers and small business.

The first Logitech product to include Paragon’s technology is the Logitech® Alert™ HD digital video security system. Recently introduced, the Logitech Alert provides a simple way to setup an HD video monitoring and surveillance system, then access live video from virtually anywhere. With the addition of Paragon NTFS for Linux, the built-in DVR in Logitech Alert smart cameras can record high-definition 720p video onto an NTFS-formatted microSD card. Stored HD video can then be remotely played back later, or backed up to the user’s PC over their network.

Paragon’s NTFS for Linux is based on Paragon’s unique Universal File System Driver (UFSD) technology, which was specially developed to provide full high-performance access (read/write, format, etc.) to volumes of the most popular file systems (NTFS, HFS+, Ext2/3FS, etc.) under various kernels and operating systems (Windows, Mac, Linux, Android, VxWorks, etc.) where these file systems otherwise would not be supported.

“Logitech is a recognized leader in the consumer and SMB digital video market,” said Tom Fedro, president, Paragon Software Group. “Our UFSD technology embedded in Logitech products enables flawless, high-definition video storage and playback via NTFS-formatted micro-SD cards; this is an important advantage for consumers and business. We are very pleased to participate in Logitech’s vision to make HD video accessible to everyone.”

About Paragon Software Group
Paragon Software Group is an innovative software developer focused on two dynamic growth markets. The company’s comprehensive product line for the data storage market addresses the needs of data security, storage and management for PCs, servers and networks. A second portfolio of products focuses on mobile productivity applications for handheld devices. Founded in 1994, Paragon Software has offices in the USA, Germany, Japan, Poland and Russia delivering its solutions to consumers, small business and enterprise clients worldwide through a network of Value Added Resellers, distributors and OEMs as well as online through the company website. Paragon Software provides technology to a host of world class companies and partners including Cisco, Dell, ASUS, Seagate, Buffalo, Iomega, Siemens, Lenovo, Microsoft, Motorola, Nokia, and more. For more information please visit the company website at www.paragon-software.com.

Paragon Software is a trademark of Paragon Software Group. Logitech, the Logitech logo, and other Logitech marks are registered in Switzerland and other countries. All other trademarks are the property of their respective owners.

Media Contact:
Suzanne Gehret
Paragon Software Group
+1.949.825.6282
Email Contact

FalconStor Software (FALC) Enters Into Managed Services and Reseller Agreement with HP

Nov. 9, 2010 (Business Wire) — FalconStor Software, Inc. (NASDAQ: FALC), the provider of TOTALLY Open™ data protection solutions, today announced that FalconStor entered into a managed services and reseller agreement with HP Enterprise Services.

Under the terms of the agreement, effective October 1, 2010, FalconStor^® Network Storage Server (NSS) software will be used to create new disaster recovery (DR) and business continuity offerings for HP Business Continuity & Recovery Services (BCRS) customers. This agreement enables HP Enterprise Services to add new heterogeneous replication services to the comprehensive offerings of HP BCRS as well as the full data protection capabilities of the FalconStor NSS solution.

“The FalconStor NSS solution’s heterogeneous replication feature provides HP’s Business Continuity & Recovery Services a critical capability that allows HP to replicate between any brand of storage to and from the customer site and the BCRS recovery site,” said Bernie Wu, vice president of business development for FalconStor. “We look forward to working with HP and providing leading products in the growing market for cloud-based replication and DR solutions.”

About FalconStor Software

FalconStor Software, Inc. (NASDAQ: FALC) is the market leader in disk-based data protection. FalconStor delivers proven, comprehensive data protection solutions that facilitate the continuous availability of business-critical data with speed, integrity and simplicity. The Company’s TOTALLY Open™ technology solutions, built upon the award-winning IPStor^® platform, include the industry leading Virtual Tape Library (VTL) with deduplication, Continuous Data Protector (CDP), File-interface Deduplication System (FDS), and Network Storage Server (NSS), each enabled with WAN-optimized replication for disaster recovery and remote office protection, and the HyperFS™ file system. FalconStor products are available as OEM or branded solutions from industry leaders, including Acer, Data Direct Networks, Dynamic Solutions International, EMC, Fujitsu, Hitachi Data Systems, Huawei, Pillar Data Systems, SGI, SeaChange and Spectra Logic and are deployed by thousands of customers worldwide, from small businesses to Fortune 1000 enterprises.

FalconStor is headquartered in Melville, N.Y., with offices throughout Europe and the Asia Pacific region. FalconStor is an active member of the Storage Networking Industry Association (SNIA). For more information, visit www.falconstor.com or call 1-866-NOW-FALC (866-669-3252).

FalconStor, FalconStor Software and IPStor are registered trademarks and TOTALLY Open and HyperFS are trademarks of FalconStor Software, Inc., in the U.S. and other countries. All other company and product names contained herein may be trademarks of their respective holders.

Links to websites or pages controlled by parties other than FalconStor are provided for the reader’s convenience and information only. FalconStor does not incorporate into this release the information found at those links nor does FalconStor represent or warrant that any information found at those links is complete or accurate. Use of information obtained by following these links is at the reader’s own risk.

FalconStor Software, Inc.

Roman Kichorowsky, 631-773-4303

romank@falconstor.com

or

Metis Communications

Melissa Cohen, 617-236-0500

melissa@metiscomm.com

Chevron (CVX) Agrees to Acquire Atlas Energy, Inc. (ATLS) in a Transaction Valued at $4.3 Billion

Nov. 9, 2010 (Business Wire) — Atlas Energy, Inc. (NASDAQ: ATLS) (“Atlas Energy” or “ATLS”) announced today that it has entered into a definitive agreement to be acquired by Chevron Corporation (NYSE: CVX) (“Chevron”) in a transaction valuing Atlas Energy at $4.3 billion, including Atlas Energy’s currently outstanding debt. In the transaction, Atlas Energy shareholders will receive consideration valued at $43.34 per share in total, a 37% premium to Atlas Energy’s closing share price on November 8. Atlas Energy shareholders will receive $38.25 in cash for each outstanding share, and will also receive a pro-rata share of a distribution of over 41 million units of Atlas Pipeline Holdings, L.P. (NYSE: AHD) (“Atlas Holdings” or “AHD”). Based on AHD’s most recent closing price on November 8, these units have a value of $5.09 per Atlas Energy share. Closing of the transaction is subject to approval by Atlas Energy’s shareholders, other customary closing conditions and the completion of the following transactions:

• Atlas Energy and AHD have agreed that, prior to the Chevron – Atlas Energy merger and the distribution of AHD units to the Atlas Energy stockholders, AHD will acquire from Atlas Energy approximately 175 Bcfe of natural gas reserves, certain other energy assets and fee revenues from the investment management business owned by Atlas Energy, for consideration payable to Atlas Energy of $250 million, comprised of $220 million in newly issued AHD units and $30 million in cash. Following the issuance of these AHD units to Atlas Energy, Atlas Energy will own approximately 41 million units of AHD, or approximately 81% of the outstanding units of AHD, all of which will be distributed to Atlas Energy shareholders as part of the transactions. AHD will also acquire the general partner interest in AHD so that, following the AHD distribution, AHD will cease to be controlled by Atlas Energy.
• Atlas Energy and Atlas Pipeline Partners, L.P. (NYSE: APL) (“Atlas Pipeline” or “APL”) have agreed that, prior to the Chevron – Atlas Energy merger, Atlas Energy will acquire APL’s 49% interest in Laurel Mountain Midstream, LLC for $403 million in cash payable to APL.

Completion of each of the AHD transaction, the APL transaction and Atlas Energy’s sale to Chevron is cross-conditioned on completion of the others.

Edward E. Cohen, Chairman and CEO of Atlas Energy, observed, “All of our shareholders should benefit from this sale and upon its completion, Atlas will have achieved a return of well over 800% since its initial public offering less than 6 1/2 years ago. All of our employees and shareholders should know that, through Chevron’s acquisition of Atlas Energy, we will be bringing into the Marcellus Shale one of the world’s largest corporations, an energy company second to none in its skills and dedication to excellence. This augurs well for customers and suppliers, our joint venture partners, those of our employees who will be continuing with Chevron, the local communities in which we have been active – and our nation, for all of whom Chevron’s involvement in development of this resource will be of enormous benefit.”

Jefferies & Company, Inc. is acting as lead financial advisor, and Deutsche Bank Securities, Inc. is serving as co-financial advisor, to Atlas Energy. Wachtell, Lipton, Rosen & Katz is legal advisor to Atlas Energy. Goldman, Sachs & Co. is serving as financial advisor to Chevron, and Skadden Arps Slate Meagher Flom LLP is acting as legal advisor to Chevron.

Atlas Energy, Inc. is one of the largest independent natural gas producers in the Appalachian and Michigan Basins and a leading producer in the Marcellus Shale in Pennsylvania. Atlas Energy, Inc. is also the country’s largest sponsor and manager of tax-advantaged energy investment partnerships. Atlas Energy also owns 1.1 million common units and 8,000 preferred units in Atlas Pipeline Partners, L.P. and a 64% controlling interest in Atlas Pipeline Holdings. For more information, please visit our website at www.atlasenergy.com, or contact Investor Relations at InvestorRelations@atlasenergy.com.

Atlas Pipeline Partners, L.P. is active in the gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region of Oklahoma, southern Kansas, and northern and western Texas, APL owns and operates five active gas processing plants as well as approximately 8,300 miles of active intrastate gas gathering pipeline. In Appalachia, APL is a 49% joint venture partner with Williams in Laurel Mountain Midstream, LLC, which manages a natural gas gathering system focused on the Marcellus Shale in southwestern Pennsylvania. For more information, visit the Partnership’s website at www.atlaspipelinepartners.com or contact IR@atlaspipeline.com.

Atlas Pipeline Holdings, L.P. is a limited partnership which owns and operates the general partner of Atlas Pipeline Partners, L.P., through which it owns a 1.9% general partner interest, all the incentive distribution rights and approximately 5.8 million common limited partner units of Atlas Pipeline Partners, L.P.

Chevron Corporation is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. Chevron is based in San Ramon, Calif. More information about Chevron is available at http://www.chevron.com.

Safe Harbor for Forward-Looking Statements

This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Atlas Energy, Inc. (“Atlas Energy”) cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about the proposed acquisition of Atlas Energy by Chevron Corporation or any related transactions, Atlas Energy’s potential acquisition of an ownership interest in Laurel Mountain Midstream, LLC from Atlas Pipeline Partners, L.P. (“APL”), the potential separation of Atlas Pipeline Holdings, L.P. (“AHD”) from Atlas Energy, the potential sale of Atlas Energy’s drilling partnership business and other assets to AHD, future financial and operating results, resource potential, and Atlas Energy’s plans, objectives, expectations and intentions and other statements that are not historical facts. Although Atlas Energy believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, no assurance can be given that these expectations will be attained or that the transactions will be completed and it is possible that our actual circumstances and results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. The completion of and benefits from the transactions are subject to certain risks and uncertainties, including required approvals of Atlas Energy’s stockholders, the other conditions to the completion of the merger and the other transactions, and other risk factors relating to Atlas Energy’s business and its industry as detailed from time to time in Atlas Energy’s reports filed with the U.S. Securities and Exchange Commission. Atlas Energy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is directed to Atlas Energy’s filings with the U.S. Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K and its annual reports on Form 10-K, for a discussion of such risks and uncertainties.

Important Additional Information About this Transaction

Atlas Energy intends to file a proxy statement with the U.S. Securities and Exchange Commission in connection with the proposed merger of Atlas Energy and Chevron Corporation. Stockholders of Atlas Energy are urged to read the proxy statement when it becomes available, because it will contain important information. Stockholders will be able to obtain a free copy of the proxy statement, as well as other filings containing information about Atlas Energy and the merger, when available, without charge, at the U.S. Securities and Exchange Commission’s Internet site (www.sec.gov). In addition, copies of the proxy statement and other filings containing information about Atlas Energy and the proposed merger can be obtained, when available without charge, by directing a request to Atlas Energy, Attention: Investor Relations, Westpointe Corporate Center One, 1550 Coraopolis Heights Road, 2^nd Floor, Moon Township, PA 15108, by phone at (412) 262-2830, or on Atlas Energy’s Internet site at www.atlasenergy.com.

Atlas Energy and its directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from Atlas Energy stockholders in respect of the proposed merger. In addition, because Atlas Energy controls the general partnership interest in Atlas Pipeline Holdings, L.P. (“AHD”), which itself controls the general partnership interest in Atlas Pipeline Partners, L.P. (“APL”), directors and executive officers and other members of management and employees of AHD, APL and their respective general partner may be deemed to be participants in the solicitation of proxies from Atlas Energy stockholders in respect of the proposed merger. You can find information about Atlas Energy’s executive officers and directors in Atlas Energy’s definitive annual proxy statement filed with the SEC on April 13, 2010, information about the executive officers and directors of the general partner of AHD in the annual report on Form 10-K for AHD filed with the SEC on March 5, 2010, and information about the executive officers and directors of the general partner of APL in the annual report on Form 10-K for APL filed with the SEC on March 5, 2010. You can obtain free copies of Atlas Energy’s annual proxy statement, and Atlas Energy’s proxy statement in connection with the merger (when it becomes available), by contacting Atlas Energy’s investor relations department. You can obtain free copies of AHD’s annual report and APL’s annual report by contacting the investor relations department of AHD and APL, respectively. Additional information regarding the interests of such potential participants will be included in the proxy statement and the other relevant documents filed with the SEC when they become available.

This document 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 U.S. Securities Act of 1933, as amended.

Atlas Energy, Inc.

Brian J. Begley, 877-280-2857

215-553-8455 (fax)

Vice President – Investor Relations

Prana Biotechnology (PRAN) Plans to Advance Alzheimer’s Clinical Trial

NEW YORK, NY — (Marketwire) — 11/08/10 — Prana Biotechnology (NASDAQ: PRAN) (ASX: PBT) has today announced it has received confirmation that a re-elected Victorian Labor Government would commit $15 million AUD to the Mental Health Research Institute (MHRI) as crucial funding toward the commencement of a large scale trial of PBT2. MHRI is Prana Biotechnology’s long standing partner in Alzheimer’s research and PBT2 is its lead compound for the treatment of Alzheimer’s and Huntington’s Disease.

The grant would go towards the further development of PBT2 by Prana, including a clinical trial involving 525 patients with mild to moderate Alzheimer’s Disease, treated for twelve months. The study is aimed to confirm the results received in an earlier trial. The company is seeking further funding to run the trial. PBT2 has already demonstrated very promising results in an earlier Phase IIa trial, which in just 12 weeks showed significant improvement in cognitive tests that measure executive function in Alzheimer’s patients.

“At a time when so many Alzheimer’s drug candidates have failed, PBT2 has delivered positive results and has generated a great deal of interest in the global scientific community. The funding will come at a very important time for Prana and it is another vote of confidence in the promise of this drug,” said Mr. Geoffrey Kempler, CEO of Prana Biotechnology.

“This grant money would be used in a crucial stage of the development of PBT2. It would enable Prana to proceed with the planned Phase IIb trial in a larger clinical setting. We hope to build on the positive clinical results we’ve already achieved and take us one step closer to delivering a new treatment for Alzheimer’s. This will be welcome news for the many people touched by the disease.”

PBT2 is a novel and exciting treatment for Alzheimer’s Disease, a degenerative disease that is the sixth leading cause of death in the United States and the fourth largest killer of adult Australians. PBT2 works by correcting an imbalance of metals in the ageing brain. Scientists believe this imbalance is one of the underlying causes of Alzheimer’s Disease and other neurodegenerative conditions. PBT2 offers a unique therapeutic strategy in the treatment and ultimate modification of the disease process. Prana’s research has won strong praise from leading scientists including Sir Gustav Nossal, a world renowned research biologist and former winner of the Albert Einstein World Award for Science, who describes Prana’s research as “one of the iconic discoveries in Australian medical and health research.”

The $15 million grant, conditional on the re-election of the Brumby Government, is significant to a biotechnology company such as Prana and represents a strong endorsement of the world-leading work being undertaken by Prana. The company’s deep pipeline includes Alzheimer’s Disease, Huntington’s Disease, Parkinson’s Disease, and brain cancer, all of which have the potential to produce new treatments based on Prana’s world leading technology. It also ensures that the pioneering work of Prana will remain in Victoria, Australia.

International scientists have applauded the Brumby Government’s commitment to this research, saying it will put Victoria at the forefront of development in this area. Rudolph E. Tanzi, Ph.D., the Joseph P. and Rose F. Kennedy Professor of Neurology, at Harvard Medical School said: “The combined preclinical and clinical data on PBT2 leads me to believe that PBT2 has the best chance of all currently available potential competitors to be the first effective disease modifying treatment for Alzheimer’s Disease. The Victorian Premier deserves congratulations for pledging this funding.”

About Prana Biotechnology Limited

Prana Biotechnology was established to commercialize research into Alzheimer’s Disease, Huntington’s Disease and other major age-related neurodegenerative disorders. The Company was incorporated in 1997 and listed on the Australian Stock Exchange in March 2000 and listed on NASDAQ in September 2002. Researchers at prominent international institutions including The University of Melbourne, The Mental Health Research Institute (Melbourne) and Massachusetts General Hospital, a teaching hospital of Harvard Medical School, contributed to the discovery of Prana’s technology.

For further information please visit the Company’s web site at www.pranabio.com.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. The Company has tried to identify such forward-looking statements by use of such words as “expects,” “intends,” “hopes,” “anticipates,” “believes,” “could,” “may,” “evidences” and “estimates,” and other similar expressions, but these words are not the exclusive means of identifying such statements. Such statements include, but are not limited to any statements relating to the Company’s drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company’s drug development program, including, but not limited to, PBT2, and any other statements that are not historical facts. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to the difficulties or delays in financing, development, testing, regulatory approval, production and marketing of the Company’s drug components, including, but not limited to, PBT2, the ability of the Company to procure additional future sources of financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company’s drug compounds, including, but not limited to, PBT2, that could slow or prevent products coming to market, the uncertainty of patent protection for the Company’s intellectual property or trade secrets, including, but not limited to, the intellectual property relating to PBT2, and other risks detailed from time to time in the filings the Company makes with Securities and Exchange Commission including its annual reports on Form 20-F and its reports on Form 6-K. Such statements are based on management’s current expectations, but actual results may differ materially due to various factions including those risks and uncertainties mentioned or referred to in this press release. Accordingly, you should not rely on those forward-looking statements as a prediction of actual future results.

Contacts:
Prana Biotechnology Limited
+61 3 9349 4906

US — IR and Media
Leslie Wolf-Creutzfeldt
Grayling USA
+1 (646) 284-9400

Aastrom Biosciences (ASTM) Reports Quarterly Operating Results

ANN ARBOR, Mich., Nov. 8, 2010 (GLOBE NEWSWIRE) — Aastrom Biosciences, Inc. (Nasdaq:ASTM), a leading developer of expanded autologous cellular therapies for the treatment of severe cardiovascular diseases, today reported operating results for the quarter ended September 30, 2010. The company will hold a conference call to discuss these results at 9:30 a.m. (ET) today; log-in and dial-in information are listed at the end of this announcement.

“This is an exciting time for Aastrom. We have made significant progress in our late-stage clinical development programs. We received Fast Track designation, and submitted documents in support of a special protocol assessment (SPA) for our Phase 3 CLI program. We also established a new partnership with ATEK Medical that will enable us to grow and further advance our cell cassette manufacturing capabilities. Finally, we strengthened our management team and Board with industry veterans who will provide important counsel as we move forward,” said Tim Mayleben, president and CEO of Aastrom Biosciences.

Aastrom will present data from an interim analysis of its Phase 2b RESTORE-CLI clinical trial at a VEITHsymposium™ non-CME satellite session on November 18 at 1:00 p.m. (ET). This event will include a webcast presentation by Dr. Richard Powell, RESTORE-CLI Principal Investigator, and a Q&A session with Dr. Powell, CEO Tim Mayleben and Dr. Sharon Watling, vice president clinical and regulatory at Aastrom Biosciences. Details on the webcast and conference call, including log-in and dial-in information, will be made available at www.aastrom.com/investor.cfm approximately one week before the event.

Operating Results for the Quarter ended September 30, 2010

As of September 30, 2010, the company had a total of approximately $14.5 million in cash and cash equivalents, compared to $19.1 million in cash, cash equivalents and short-term investments at June 30, 2010. The primary use of cash, cash equivalents and short-term investments during the quarter ended September 30, 2010 was to finance operations, working capital requirements and capital expenditures.

Research and development expenses for the quarter ended September 30, 2010 were $4.2 million, compared to $2.9 million for the same period in 2009. This increase was associated with preparations for the Phase 3 CLI development program.

Selling, general and administrative expenses for the quarter ended September 30, 2010 were $1.7 million, compared to $0.9 million for the same period in 2009. This change is due to a $0.4 million increase in non-cash stock-based compensation expense with the remainder primarily due to higher employee expenses and general consulting.

Net loss for the quarter ended September 30, 2010 was $5.8 million, or $0.21 per share, compared to a net loss of $3.8 million, or $0.18 per share, for the same period in 2009. The increase in net loss is due to the fluctuations in research and development expenses and selling, general and administrative expenses as described above. Loss per share comparisons were impacted by the issuance of 6.5 million shares of common stock on January 21, 2010.

Aastrom Conference Call Information

Tim M. Mayleben, president and CEO and Scott C. Durbin, chief financial officer, will host a conference call to review and discuss the September 30, 2010 operating results at 9:30 a.m. (ET) today, November 8, 2010. Interested parties should call toll-free (877) 312-5881, or from outside the U.S. (253) 237-1173, and reference Aastrom’s first quarter conference call. The call will be available live at www.aastrom.com/investor.cfm. Please access the site at least 15 minutes prior to the scheduled start time in order to download the required audio software if necessary (RealPlayer or Windows Media Player). A podcast of the call will also be available after the live event at http://www.aastrom.com/events.cfm. If you are unable to participate during the live call, the webcast will be available for replay at http://www.aastrom.com/events.cfm until February 8, 2011. An audio replay of the call will be available until (no time specified) (ET) on November 15, 2010 by calling (800) 642-1687, or from outside the U.S. at (706) 645-9291. The passcode for the replay is 17933343.

About Aastrom Biosciences

Aastrom Biosciences is an emerging biotechnology company developing expanded autologous cellular therapies for use in the treatment of severe cardiovascular diseases. The company’s proprietary cell-processing technology enables the manufacture of mixed-cell therapies expanded from a patient’s own bone marrow and delivered directly to damaged tissues. Aastrom has advanced its cell therapies into late-stage clinical development, including a planned Phase 3 clinical program for the treatment of patients with critical limb ischemia and two ongoing Phase 2 clinical trials in patients with dilated cardiomyopathy. For more information, please visit Aastrom’s website at www.aastrom.com.

The Aastrom Biosciences, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3663

This document contains forward-looking statements, including without limitation, statements concerning clinical trial plans, objectives and expectations, clinical activity timing, intended product development, disease treatment and progression, patient symptoms and responses to treatment, development of supplier relationships, treatment options and expected timing of collecting and analyzing treatment data, all of which involve certain risks and uncertainties. These statements are often, but are not always, made through the use of words or phrases such as “anticipates,” “intends,” “estimates,” “plans,” “expects,” “we believe,” “we intend,” and similar words or phrases, or future or conditional verbs such as “will,” “would,” “should,” “potential,” “could,” “may,” or similar expressions. Actual results may differ significantly from the expectations contained in the forward-looking statements. Among the factors that may result in differences are the inherent uncertainties associated with clinical trial and product development activities, regulatory approval requirements, competitive developments, and the availability of resources and the allocation of resources among different potential uses. These and other significant factors are discussed in greater detail in Aastrom’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. These forward looking statements reflect management’s current views and Aastrom does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this release except as required by law.

CONTACT:  Berry & Company
          Media contact
          Stephen Zoegall
          212 253-8881
          szoegall@berrypr.com

          Aastrom Biosciences
          Investor Contact
          Kimberli O'Meara
          734 930-5777
          ir@aastrom.com

Uranium Resources, Inc. (URRE) Provides Third Quarter 2010 Update

Nov. 8, 2010 (Business Wire) — Uranium Resources, Inc. (NASDAQ: URRE) (URI), today provided an update on the Company’s activities and announced its financial results for the third quarter of 2010, which ended September 30, 2010.

Recent Highlights

Letter of Intent Signed with Industry Leader. On November 4, 2010, URI announced the signing of a non-binding letter of intent with Cameco Resources, a subsidiary of Cameco (NYSE: CCJ), for a large ranch in South Texas. The agreement, which is contingent on URI successfully completing a lease agreement with the land owners, outlines a three-phase exploration program that would be funded by Cameco. There is an option for a production joint venture.

Liquidity Position Further Strengthened. On November 5, 2010, URI successfully completed the second draw down under its existing shelf registration statement when it closed its underwritten registered offering of 8,222,500 shares of common stock at a price of $1.16 per share, including the exercise by the underwriter of an over-allotment option, with net proceeds to URI of approximately $9.0 million. The Company plans to use the proceeds for general corporate purposes and to fund future potential acquisitions.

URI Settles Lease Agreement in Texas. On September 29, 2010, URI settled a two-year old lawsuit regarding a lease agreement in Texas; and as a result, eliminated costly legal fees while enabling discussions on additional properties with an estimated 250,000 pounds of in place mineralized uranium material.

Tenth Circuit Court Ruling Stands. No petitions were filed by the deadline to review the June 2010 United States Court of Appeals for the 10th Circuit en banc ruling that URI’s Section 8 property in Churchrock, New Mexico is not Indian Country, thus affirming the authority of the State of New Mexico to issue the underground injection control permit, which was granted to URI in 1989.

Documents Submitted to NRC to Activate License. In October, URI submitted the necessary documents to the U.S. Nuclear Regulatory Commission to activate its NRC License. URI is currently awaiting a determination from the Commission, and once active, the license may be utilized according to its present terms and conditions while pending renewal from the NRC.

Opponents petitioned the United States Supreme Court for review of the March 2010, 10th Circuit Court of Appeals’ ruling that upheld the Company’s NRC license to conduct in-situ recovery (ISR) uranium mining at the Churchrock/Crown Point project. The Supreme Court has not yet acted on the petition which does not impede the Company’s progress.

Section 13 Drilling Completed. URI completed drilling on its Section 13 property in Ambrosia Lake in September. Core samples were shipped to an outside laboratory for the purpose of determining the suitability of the property for ISR mining. Results are expected to be completed in December 2010. If the property is not ISR amenable, then it will fall into the Company’s conventional mining portfolio. URI has approximately 2.4 million pounds of in-place, mineralized uranium material in the Ambrosia Lake district.

NASDAQ Listing. URI regained compliance with the $1.00 per share minimum bid price requirement for continued listing on the NASDAQ Capital Market on October 7, 2010.

Don Ewigleben, President and CEO of Uranium Resources, noted, “The first nine months of 2010 have been a dynamic and rewarding time for the Company. We have made measurable progress on all fronts, as we have continued to deliver on our strategic initiatives. Last week, we completed the sale of 8,222,500 shares of common stock which provided net proceeds of approximately $9.0 million. As a result, we have further strengthened our balance sheet with the requisite capital to fund our growth strategy.”

Mr. Ewigleben commented on recent milestones and developments, “Our recent letter of intent with Cameco Resources has significantly enhanced our Texas opportunities; and coupled with the settlement of the litigation regarding a lease agreement, we are optimally positioned to move forward on our Texas strategy. In New Mexico, we are also making substantial progress as we completed drilling activity on our Ambrosia Lake property and await results by the end of the year. Moreover, no petitions were filed by the deadline to review the June 2010, United States Court of Appeals for the 10th Circuit ruling that URI’s New Mexico property is not Indian Country, thus affirming the authority of the State of New Mexico to issue the underground injection control permit.”

Mr. Ewigleben concluded, “Our 30-plus years in uranium exploration, development, and mining operations, our experience as the only uranium company with approved restoration of an ISR mining operation in the United States and our significant asset base provides us a significant advantage in the uranium industry. Strategically, we continue to advance our properties toward production as we identify new projects and opportunities to grow our asset base, and, importantly, as we establish relationships and develop opportunities to continually grow value.”

Liquidity Discussion

Cash at September 30, 2010 was $10.5 million compared with $11.4 million at the end of the trailing second quarter and $6.1 million at the end of 2009. The significant increase from the prior year end reflected the Company’s common stock offering in June 2010 and the over-allotment option that was exercised in July. Subsequent to the end of the third quarter, URI completed another common stock offering, including an over-allotment, which resulted in net proceeds of $9.0 million. The cash balance as of the close of the offering on November 5, 2010 was $18.8 million.

As previously mentioned, on September 29, 2010, URI settled a Texas land lease dispute and agreed to pay the plaintiffs $1.38 million in cash, which includes amounts for prior royalties that the plaintiffs had previously rejected. The payment of this settlement is subject to execution of amendments to the leases and to documentation of other aspects of the settlement and dismissal of the suit and is expected to be made prior to year end 2010.

The Company used $1.9 million in cash in operating activities during the third quarter of 2010 compared with $1.3 million and $2.0 million used in operations in the second quarter and first quarter of 2010, respectively. For the nine-month period of 2010, URI used $5.2 million in operations compared with $3.3 million used in operations during the corresponding period of 2009.

Teleconference and Webcast

The Company is hosting a conference call and webcast today at 1:30 p.m. ET. During the call, Don Ewigleben, President and Chief Executive Officer, will review financial results for the quarter, provide an update on URI’s strategies and outlook, and discuss the recent stock offering. A question-and-answer session will follow.

The URI conference call can be accessed by dialing (201) 689-8562 and entering conference ID number 359643. The live listen-only audio webcast can be monitored on the Company’s Web site at www.uraniumresources.com, where it will be archived afterwards. To listen to the archived call, dial (858) 384-5517, and enter conference ID number 359643. The replay will be available from 4:30 p.m. ET the day of the teleconference until 11:59 p.m. ET Monday, November 15, 2010.

A transcript will also be placed on the Company’s Web site, once available.

About Uranium Resources, Inc.

Uranium Resources Inc. explores for, develops and mines uranium. Since its incorporation in 1977, URI has produced over 8 million pounds of uranium by in-situ recovery (ISR) methods in the state of Texas where the Company currently has ISR mining projects. URI also has 183,000 acres of uranium mineral holdings and 101.4 million pounds of in-place mineralized uranium material in New Mexico and a NRC license to produce up to 1 million pounds of uranium per year. The Company acquired these properties over the past 20 years along with an extensive information database of historic mining logs and analysis. None of URI’s properties are currently in production.

URI’s strategy is to fully exploit its resource base in New Mexico and Texas, expand its asset base both within and outside of New Mexico and Texas, partner with larger mining companies that have undeveloped uranium or with junior mining companies that do not have the mining experience of URI, as well as provide restoration expertise to those that require the capability or lack the proficiency.

Uranium Resources routinely posts news and other information about the Company on its web site at www.uraniumresources.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that the Company expects or anticipates will occur in the future, including but not limited to statements relating to the Company’s mineralized uranium materials, timing of receipt of mining permits, production capacity of mining operations planned for properties in South Texas and New Mexico, planned dates for commencement of production at such properties, revenue, cash generation and profits are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, the spot price and long-term contract price of uranium, weather conditions, operating conditions at the Company’s mining projects, government regulation of the mining industry and the nuclear power industry, world-wide uranium supply and demand, availability of capital, timely receipt of mining and other permits from regulatory agents and other factors which are more fully described in the Company’s documents filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

Investors:

Kei Advisors LLC

Deborah K. Pawlowski, 716-843-3908

dpawlowski@keiadvisors.com

or

Media:

Uranium Resources, Inc.

April Wade, 505-440-9441

awade@uraniumresources.com

or

Company:

Uranium Resources, Inc.

Don Ewigleben, 972-219-3330

President & Chief Executive Officer

FuelCell Energy (FCEL) Announces Largest Renewable Biogas Wastewater Treatment Installation for a Direct FuelCell(R) Power Plant

DANBURY, Conn., Nov. 8, 2010 (GLOBE NEWSWIRE) — FuelCell Energy, Inc. (Nasdaq:FCEL) a leading manufacturer of ultra-clean high efficiency power plants using renewable and other fuels for commercial, industrial, government, and utility clients, today announced the sale of a 2.8 megawatt (MW) DFC3000 power plant to be installed at a wastewater treatment plant operated by Inland Empire Utilities Agency (IEUA), a municipal water district based in Chino, California. Renewable biogas created by the wastewater treatment process will be the primary fuel source for the generation of ultra-clean electricity. UTS Bioenergy LLC will purchase the DFC3000 and sell the power generated to IEUA under a 20 year power purchase agreement.  FuelCell Energy will service the power plant under a long term service agreement and the unit is expected to be operational in early 2012.

“Installation of this fuel cell operating on renewable biogas is an important component of our renewable energy generation strategy,” said Terry Catlin, Board President, Inland Empire Utilities Agency. “The clean electrical generation process and the reliable 24/7 operating nature of the fuel cell will help us attain the objectives of our strategic energy plan and position us to meet ever more stringent clean air emission requirements.”

This distributed generation fuel cell helps the IEUA reach its goal of generating all of their power needs on-site in a renewable manner and reducing reliance on the electric grid.

Fuel cells use an electrochemical process to efficiently generate clean electricity, without combustion. The primary byproducts of this process are high-quality heat and water. The lack of combustion eliminates almost all pollutants such as NOx, SOx or particulate matter.  The fuel cell power plant will replace existing internal-combustion engines so the clean power generation will help IEUA meet the stringent emission regulations issued by the South Coast Air Quality Management District (SCAQMD), the local air pollution control agency. This reduction in pollutants is equivalent to removing at least 353 cars from the road.

Fuel cells are highly efficient and can achieve efficiencies up to 90 percent when byproduct heat is utilized. The byproduct heat from this power plant will be used to help create the renewable biogas by heating the anaerobic digesters that produce the biogas. High efficiency decreases energy costs and provides more electrical output from the same amount of biogas than less efficient alternatives.

“Fuel cells represent an economically and environmentally compelling solution for converting renewable waste streams into clean electricity,” said Arun Sharma, Vice President Business Development, UTS BioEnergy LLC. “We believe fuel cells are a critical component of improving the reliability and efficiency of power supplies and expect to replicate this fuel cell business model with other power users that have baseload 24/7 energy requirements.”

“Clean, efficient and dependable fuel cell power generation offers our clients a cost effective path to address their strategic energy goals and environmental stewardship simultaneously,” said Chip Bottone, Senior Vice President and Chief Commercial Officer, FuelCell Energy, Inc.

This project is eligible for a grant under the California Self-Generation Incentive Program (SGIP). The SGIP promotes the installation of clean distributed generation power sources.

IEUA, formed in 1950, is a municipal water district located in western San Bernardino County, California. IEUA’s mission is to supply imported drinking water, collect and treat wastewater, produce beneficially reusable compost and high quality recycled water to the 850,000 residents living within its 242-square miles service area.

UTS BioEnergy LLC develops, owns and operates alternative energy projects with a specialty on biogas production and conversion to electricity and heat. The Company, based in Encinitas, California, has extensive experience transforming a variety of waste streams into energy in a cost effective manner.

About FuelCell Energy

DFC® fuel cells are generating power at over 50 locations worldwide. The Company’s power plants have generated over 600 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power companies around the world. The Company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at www.fuelcellenergy.com

This news release contains forward-looking statements, including statements regarding the Company’s plans and expectations regarding the continuing development, commercialization and financing of its fuel cell technology and business plans. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, general risks associated with product development, manufacturing, changes in the regulatory environment, customer strategies, potential volatility of energy prices, rapid technological change, competition, and the Company’s ability to achieve its sales plans and cost reduction targets, as well as other risks set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Direct FuelCell, DFC, DFC/T, DFC-H2 and FuelCell Energy, Inc. are all registered trademarks of FuelCell Energy, Inc. DFC-ERG is a registered trademark jointly owned by Enbridge, Inc. and FuelCell Energy, Inc.

CONTACT:  FuelCell Energy, Inc.
          Kurt Goddard, Vice President Investor Relations
          203-830-7494
          ir@fce.com

Highway Holdings (HIHO) Reports Strong Fiscal 2011 Second Quarter Results

HONG KONG, Nov. 8, 2010 (GLOBE NEWSWIRE) — Highway Holdings Limited (Nasdaq:HIHO) today reported strong results for its second fiscal quarter ended September 30, 2010, reflecting an improved business environment among its major customers and new business gains.

Net income for the 2011 fiscal second quarter increased to $410,000 or $0.11 per diluted share, from $139,000, or $0.04 per diluted share, a year earlier. Net sales for same period climbed 50 percent to $7.8 million from $5.2 million a year earlier.

Net income for the first half of fiscal 2011 was $ 454,000, or $0.12 per diluted share, compared with net income of $3,000, or $0.00 per diluted share, a year earlier. Net sales for the six-month period jumped 45.3 percent to $14.3 million from $9.8 million a year ago.

“Results for the quarter and first half of fiscal 2011 reflect a greatly improved business environment, with increased order flow from existing and new customers,” said Roland Kohl, president and chief executive officer.

Despite a significant increase in both net sales and net income, Kohl stated that net income could have been higher. He noted that operating income for the quarter was $167,000, or approximately two percent of net sales, due to a 60 percent increase in labor costs, most of which had not yet been passed through to customers under terms of existing contracts. Under terms of many of the company’s OEM contracts, prices are adjusted quarterly to reflect increases in raw material and employment costs. Kohl added that the company’s strong sales gains for the quarter were not sufficient to offset these sharp labor and personnel cost increases. “We anticipate operating income will improve in future quarters as these higher labor costs are passed through as price increases to our customers,” Kohl said. He said that prior initiatives designed to reduce dependency on certain labor processes through assembly automation and robotic manufacturing technology helped to partially offset the higher labor costs in the quarter.

Kohl noted further that investments in automation systems and the initial start-up costs associated with manufacturing of a recently announced order for protective mobile phone cases also impacted cost of sales, as well as selling and general administrative expenses in the second quarter.

“Once manufacturing of the protective mobile cases ramps up and reaches projected levels, we will be better able to absorb certain costs and realize better efficiency. This, combined with projected higher sales, should contribute to enhanced profitability in the second half,” Kohl said.

Selling, general and administrative expenses increased to $1.43 million during the second quarter from $1.22 million in same quarter a year ago. The increase in selling, general and administrative expenses was the result of the increased costs associated with adding managers and technicians necessary to service the increased business — in addition to the impact of higher wages paid to existing personnel. Kohl noted that the company has now substantially completed its consolidation of its factories in Ping Hu and He Yuan into its main facility in Shenzhen, and that the company is presently in negotiations to sell the company’s factory in Wuxi. These actions will contribute to further cost reductions in the future.

The company realized a currency exchange gain of $235,000 during the quarter, which partially offset the $257,000 currency loss incurred in the first quarter of this fiscal year – reflecting the weakening and strengthening value of the Euro compared with the U.S. dollar. For the six-month period, the company realized a currency exchange loss of $22,000 compared with a currency exchange gain of $348,000 a year earlier. Since the company does not engage in currency exchange rate hedging, the company will in the future continue to realize currency exchange gains and losses as a result of the fluctuation of currency exchange rates.

Kohl highlighted the company’s strong balance sheet, with cash and cash equivalents and restricted cash further increasing by approximately $800,000 to $7.8 million, or approximately $2.07 cash per share.

Current liabilities at September 30, 2010 totaled $6.8 million and current assets were $17.2 million. Total shareholders’ equity at September 30, 2010 was $11.9 million, or $ 3.15 per diluted share, compared with $11.7 million, or $3.11 per diluted share, at March 31, 2010.

About Highway Holdings

Highway Holdings produces a wide variety of high-quality products for blue chip original equipment manufacturers — from simple parts and components to sub-assemblies. It also manufactures finished products, such as LED lights, radio chimes and other electronic products. Highway Holdings is headquartered in Hong Kong, with manufacturing facilities in Shenzhen in the People’s Republic of China.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements which involve risks and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the company’s revenues, operations, markets, products and prices, and other factors discussed in the company’s various filings with the Securities and Exchange Commission, including without limitation, the company’s annual reports on Form 20-F.

CONTACT:  Maier & Company, Inc.
          Gary S. Maier
          (310) 442-9852

Sprott Resource Lending Corp. (SIL.TO) Third Quarter Highlights Transition

TORONTO, ONTARIO–(Marketwire – 11/05/10) – Sprott Resource Lending Corp. (the “Corporation” or “Sprott Resource Lending”) (TSX:SIL – News)(AMEX:SILU – News) today reported its financial results for the three and nine months ended September 30, 2010.

During the third quarter, the Corporation made a material change to its strategy pursuant to its’ shareholder-approved plan to refocus its activities as a natural resource lender providing bridge, mezzanine and precious metal financing to resource companies. Prior to this change, the Corporation invested in mortgages secured by Canadian real estate under the name of Quest Capital.

Peter Grosskopf, President and CEO, stated, “Our near-term outlook is guided by our transition from real estate to resource lending. This is likely to take several months, during which real estate loan collections are expected to roughly dovetail new commitments to resource transactions. We are encouraged by the number of attractive investment opportunities in our pipeline and we expect to begin deploying some of our cash in resource loans in the near future. With our strong and growing cash position and the deal origination support available through our principal shareholders, we are on our way to launching our new business.

Additionally, we are pleased to announce that the Corporation is expanding its lending criteria to enter into “precious metal” lending which should further enhance our origination opportunities.”

Third Quarter Results

The results of the third quarter largely reflect operations as a real estate lender and the transition to resource lending. The Corporation has not yet invested its cash of over $108 million in lending to the natural resource sector.

 

--  Real estate loans repaid and sold in the quarter amounted to $45.9
    million increasing the cash resources available for deployment in
    resource loans;
--  Net loss for the period was $16.2 million ($0.11 per share) compared to
    a loss of $5.2 million ($0.03 per share) a year earlier primarily as a
    result of increases in loan loss expense, salaries and benefits and a
    decrease in interest income, offset by a $3.2 million increase in income
    tax recoveries;
--  Loan loss expense was $16.9 million compared to $8.1 million a year
    earlier mainly due to a change in the valuation of the underlying
    properties and results from continuing remediation negotiations;
--  Interest income was $1.9 million, down from $5.2 million a year ago
    reflecting a 41% decrease in average loan principal outstanding and a
    reduction to 3% from 6% in the annualized interest yield on the real
    estate loan portfolio;
--  Net interest income was $1.6 million, down from $2.7 million a year ago
    when interest expense for dividends on preferred shares and interest on
    revolving debt were incurred (both expenses were extinguished in late
    2009);

Nine Month Results

 

--  Net loss for the period was $16.8 million ($0.12 per share) compared to
    a loss of $8.1 million ($0.05 per share) a year earlier;
--  Loan loss expense was $21.0 million compared to $16.6 million a year
    earlier;
--  Interest income was $9.2 million, down from $20.8 million a year ago;
--  Net interest income was $8.7 million, compared to $13.1 million a year
    ago;
--  Real estate loans repaid and sold amounted to $131.9 million compared to
    $49.2 million a year ago;
--  Total assets were $270.3 million compared to $298.4 million at December
    31, 2009;
--  Total liabilities were $4.7 million compared to $24.5 million at
    December 31, 2009;
--  Shareholders' equity was $265.6 million compared to $273.9 million at
    year end as a result of the net loss incurred in the period and the
    purchase and cancellation of $17.1 million of common shares, partially
    offset by $24.7 million in proceeds from a private placement and stock-
    based compensation of $0.9 million.

Real Estate Portfolio

At September 30, 2010, 24 real estate loans with a carrying value of $143.5 million (December 31, 2009 – 34 loans, carrying value $274.2 million) were included in loans receivable. During this transition period, the Corporation continues to monetize its remaining real estate portfolio. In the third quarter, $46 million of loans were monetized, bringing total monetization to approximately $132 million over the first nine months of 2010.

Jim Grosdanis, Chief Financial Officer said, “We are pleased with our real estate loan monetization progress and we are focused on efficiently monetizing the remainder of our real estate loans. Due to the nature of the remaining real estate loans and real estate market volatility, it’s difficult to predict when monetization will be completed but management’s target is substantial completion by the end of the first quarter of 2011.”

Dividend Update

As a resource lender, the Corporation plans to pay a common share dividend calculated as the proportion of the Company’s average net assets equal to the average 30-year Government of Canada bond yield, or similar index. The timing of such dividend cannot be accurately predicted as it depends on the Corporation’s ability to deploy a sufficient amount of its capital into resource loans on a profitable basis. The goal is to commence dividend payments in 2011 and management will provide further guidance over time.

Third Quarter Conference Call

Sprott Resource Lending has scheduled an investor conference call to discuss its full financial results today at 11:00 am ET. The call can be accessed by dialing (416) 644-3416. The call will be recorded and a replay made available until November 12, 2010 at midnight. The replay can be accessed about one hour after the call at (416) 640-1917, passcode 4377292 followed by the number sign.

About Sprott Resource Lending Corp.

Sprott Resource Lending specializes in bridge, mezzanine and precious metal lending to mining, exploration and development companies and bridge and mezzanine financing to oil and gas companies on a global basis. Headquartered in Toronto, the Corporation seeks to generate income from lending activities as well as the upside potential of bonus arrangements with borrowers generally tied to the securities of the borrower.

Sprott Resource Lending (www.sprottlending.com) was founded by Quest Capital Corp. and Sprott Lending Consulting Limited Partnership. Sprott Lending Consulting LP is a wholly owned subsidiary of Sprott Inc., the parent of Sprott Asset Management LP (www.sprott.com), a leading Canadian independent money manager.

For more information about Sprott Resource Lending, please visit SEDAR (www.sedar.com).

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release may include certain statements that constitute “forward-looking statements”, and “forward looking information” within the meaning of applicable securities laws (“forward-looking statements” and “forward-looking information” are collectively referred to as “forward-looking statements”, unless otherwise stated). Such forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Forward-looking statements may relate to the Corporation’s future outlook and anticipated events or results and may include statements regarding the Corporation’s future financial position, business strategy, budgets, litigation, projected costs, financial results, taxes, plans and objectives. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. These forward-looking statements were derived utilizing numerous assumptions regarding expected growth, results of operations, performance and business prospects and opportunities that could cause our actual results to differ materially from those in the forward-looking statements. While the Corporation considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect.

Forward-looking statements should not be read as a guarantee of future performance or results. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. To the extent any forward-looking statements constitute future-oriented financial information or financial outlooks, as those terms are defined under applicable Canadian securities laws, such statements are being provided to describe the current potential of the Corporation and readers are cautioned that these statements may not be appropriate for any other purpose, including investment decisions. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward looking statements contained in this press release are expressly qualified in their entirety by this cautionary notice.

iGo, Inc. (IGOI) to Present at 2010 AeA Classic Financial Conference

Tony Rossi, Financial Profiles, +1-310-478-2700 x13, trossi@finprofiles.com

Asia Entertainment & Resources Ltd. (AERL) Announces Results of Warrant Redemption and Preliminary 2011 Guidance

Nov. 5, 2010 (Business Wire) — Asia Entertainment & Resources Ltd. (“AERL”) (NASDAQ: AERL, AERLW), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, today announced the results of its warrant redemption, which concluded on October 28, 2010. The ordinary share purchase warrants were originally issued by AERL, which was formerly known as CS China Acquisition Corp. (“CS China”), in connection with CS China’s initial public offering in August 2008.

Of the 14,648,000 warrants outstanding and available for exercise, 7,095,790 non-insider warrants were exercised at US$5.00, raising gross proceeds of approximately $35.5 million for AERL, while 3,944,210 non-insider warrants expired unexercised, and the holders of these warrants were paid US$0.01 per warrant upon their extinguishment. 3,608,000 were considered insider warrants, and 3,505,771 of these warrants were submitted for cashless exercise into 1,343,050 shares. Of these new shares, 1,296,976 shares (or approximately 97% of new shares) are restricted until October 28, 2011.

As of October 28, 2010, AERL has ordinary shares issued and outstanding of approximately 21.0 million. The Company intends to use the proceeds from the warrant redemption to continue the expansion of its VIP room gaming business. In addition, AERL is announcing preliminary guidance for 2011. Pending the completion of the acquisition of King’s Gaming Promotion Limited, the VIP room gaming promoter that operates at the Venetian Macao-Resort-Hotel on the Cotai Strip, AERL is expecting 2011 Rolling Chip Turnover of US$1.15 billion per month and full year net income of US$55-60 million.

About Asia Entertainment & Resources Ltd.

AERL, formerly known as CS China Acquisition Corp., acquired AGRL on February 2, 2010. AGRL is an investment holding company of subsidiaries that, through profit interest agreements with affiliated companies known as VIP gaming promoters, are entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. AGRL’s VIP room gaming promoters currently participate in the promotion of two major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One of the VIP gaming rooms is located at the top-tier MGM Grand Macau Casino in downtown Macau that is operated by the MGM Grand Paradise S.A. The other Macau VIP gaming facility is located in the luxury 5-star hotel, the Star World Hotel & Casino in downtown Macau, which is operated by Galaxy Casino, S.A.

Forward Looking Statements

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

Asia Entertainment & Resources Ltd.

James Preissler, 646-450-8808

preissj@aerlf.com

Hyperdynamics (HDY) Raises $30 Million in a Private Placement of Common Stock

HOUSTON, Nov. 4, 2010 /PRNewswire-FirstCall/ — Hyperdynamics Corporation (NYSE Amex: HDY) is pleased to announce that it has entered into a $30 million definitive private placement agreement to sell 15 million common shares at a price of $2.00 per share to funds managed by affiliates of BlackRock, one of the world’s preeminent investment management firms.  The closing of the private placement is subject to the satisfaction of customary closing conditions.

The net proceeds from the sale will facilitate the drilling of Hyperdynamics’ exploration program that is scheduled to start in late 2011 offshore Republic of Guinea, as well as for working capital and general corporate purposes.  Hyperdynamics is the operator and 77% owner in a 9,650-square-mile oil and gas concession in offshore Guinea. U.K.-based Dana Petroleum owns 23% of the license.

With this purchase, the BlackRock managed funds will own approximately 12% of Hyperdynamics common shares.  Hyperdynamics will be required to file a resale registration statement within 30 days that covers the resale by the purchasers of the shares.

“We are very pleased that a company with the stature of BlackRock, which is one of the world’s largest asset managers and a major investor in the energy industry, sees strong value in Hyperdynamics,” said Ray Leonard, Hyperdynamics President and Chief Executive Officer.  “The financial backing from BlackRock provides us with additional flexibility in determining our plans regarding sales of additional participation interests in the oil and gas concession in offshore Guinea while continuing to serve as operator.”

Additional information about the transaction is available in a Current Report on Form 8-K filed with the SEC by Hyperdynamics today. This press release shall not constitute an offer to sell or the solicitation of an offer to buy such common stock.

About Hyperdynamics

Hyperdynamics is an emerging independent oil and gas exploration and production company that is exploring for oil and gas offshore the Republic of Guinea in West Africa.  To find out more, visit our website at www.hyperdynamics.com.

Forward Looking Statements

This news release and the Company’s website referenced in this news release contain 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, regarding Hyperdynamics Corporation’s future plans and expected performance that are based on assumptions the Company believes to be reasonable. Statements preceded by, followed by or that otherwise include the words “believes”, “expects”, “anticipates”, “intends”, “projects”, “estimates”, “plans”, “may increase”, “may result”, “will result”, “may fluctuate” and similar expressions or future or conditional verbs such as “will”, “should”, “would”, “may” and “could” are generally forward-looking in nature and not historical facts. A number of risks and uncertainties could cause actual results to differ materially from these statements, including without limitation, funding and exploration efforts, fluctuations in oil and gas prices and other risk factors described from time to time in the Company’s reports filed with the SEC, including the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2010. The Company undertakes no obligation to publicly update these forward looking statements to reflect events or circumstances that occur after the issuance of this news release or to reflect any change in the Company’s expectations with respect to these forward looking statements.

HDY-IR

Aurizon (ARZ) Reports 80.8 Metres at 1.21 Grams of Gold Per Tonne

VANCOUVER, Nov. 4 /PRNewswire/ – Aurizon Mines Ltd. (TSX:ARZ.to – News) (“Aurizon”) is pleased to announce results from the first thirteen (13) drill holes at the Marban Block property, located in the Malartic gold camp, in the Abitibi region of Quebec.

Significant intersections include:

    -   11.89 grams of gold per tonne over 2.4 metres (MB-10-104),

    -   5.13 grams of gold per tonne over 6.0 metres (MB-10-106),

    -   80.8 metres averaging 1.21 grams of gold per tonne, including 11.06
        grams of gold per tonne over 3.6 metres (MB-10-107),

    -   7.81 grams of gold per tonne over 4.3 metres (MB-10-110), and

    -   33.19 grams of gold per tonne over 2.4 metres (MB-10-117).

The drill holes were collared within the central portion of the Marban gold deposit and tested the entire width of the Marban Mine Sequence from surface to a vertical depth of 300 metres. The Mine Sequence, consisting of deformed mafic volcanic rocks, is approximately 250 metres wide in this area and hosts several important sulphide and gold mineralised shear zones extending along a 1.3 kilometre strike length. The results from the initial thirteen (13) holes at Marban are encouraging and confirm the potential for both bulk tonnage gold mineralisation and higher-grade ore shoots at shallow depths.

Aurizon Option

Aurizon can earn up to a 65% interest the Marban Block property under the terms of an option and joint venture agreement dated July 5, 2010 between the Company and NioGold Mining Corporation (“NioGold”). The initial 50% interest can be earned by incurring expenditures of C$20 million over three years, completing an updated NI 43-101 compliant mineral resource estimate, and by making a resource payment for 50% of the total gold ounces defined by the mineral resource estimate. NioGold is the project operator during the initial earn-in period (see Aurizon news release dated July 6, 2010).

The first year program under the terms of the option agreement includes 50,000 metres of diamond drilling. The program is mainly directed at better defining and increasing the near surface gold mineral resources at the Marban and Norlartic deposits of the Marban Block. The Marban Block includes the Gold Hawk, First Canadian, Norlartic and Marban properties and consists of forty-two (42) mining claims and three (3) mining concessions covering 976 hectares in the heart of the Malartic gold mining camp, Abitibi region, Quebec (see Aurizon news release dated July 6, 2010). Two drill rigs are currently in operation on the Marban deposit of the Marban Block.

    Assay results are summarized in the table below.
    Marban 2010 Drilling Results
    -------------------------------------------------------------------------
    Hole #     Line  Station            Az          Dip      Depth    From
                                                                     (metres)
    -------------------------------------------------------------------------
    MB-10-102  0+50 W   0+75 S  N180 degrees  -45 degrees      225.0    45.0
                                                                       144.0
                                                           including   160.5
    -------------------------------------------------------------------------
    MB-10-103  0+50 W   1+45 S  N180 degrees  -45 degrees      179.0    99.0
    -------------------------------------------------------------------------
    MB-10-104  0+45 W   0+13 S  N180 degrees  -47 degrees      304.0   124.3
                                                                       160.8
    -------------------------------------------------------------------------
    MB-10-105  0+50 W   1+45 N  N180 degrees  -45 degrees      304.0   203.4
                                                                       265.7
                                                                       283.1
                                                           including   286.7
    -------------------------------------------------------------------------
    MB-10-106  0+50 W   2+15 N  N180 degrees  -45 degrees      444.0   224.7
                                                                       254.3
                                                           including   274.0
                                                                       303.1
                                                           including   309.1
                                                                       353.5
                                                           including   361.9
                                                                       385.7
                                                           including   398.9
    -------------------------------------------------------------------------
    MB-10-107  0+50 E   2+35 N  N180 degrees  -55 degrees      513.0   287.2
                                                           including   323.6
                                                                       378.6
                                                                       427.9
    -------------------------------------------------------------------------
    MB-10-110  0+00     0+40 S  N180 degrees  -50 degrees      253.0   202.0
    -------------------------------------------------------------------------
    MB-10-111  0+50 E   0+80 S  N180 degrees  -55 degrees      275.0    48.3
                                                                       140.8
                                                           including   179.4
    -------------------------------------------------------------------------
    MB-10-112  0+50 E   1+40 S  N180 degrees  -55 degrees      224.5   147.2
    -------------------------------------------------------------------------
    MB-10-113  1+00 E   0+75 S  N180 degrees  -55 degrees      231.0   101.0
                                                                       203.3
    -------------------------------------------------------------------------
    MB-10-114  0+50 E   1+05 N  N180 degrees  -56 degrees      374.0   267.0
                                                                       334.1
                                                           including   335.3
                                                           including   353.6
    -------------------------------------------------------------------------
    MB-10-115  0+50 E   0+20 S  N180 degrees  -55 degrees      228.6   178.8
                                                           including   187.0
    -------------------------------------------------------------------------
    MB-10-117  0+02 W   0+43 N  N180 degrees  -52 degrees      248.0   115.0
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Hole #          To          Length     Grade (grams of
                 (metres)        (metres)     gold per tonne)        Zone(s)
    -------------------------------------------------------------------------
    MB-10-102       46.2             1.2                5.14               2
                   168.5            24.5                0.73             A-T
                   168.5             8.0                1.78               T
    -------------------------------------------------------------------------
    MB-10-103      100.2             1.2                4.08               T
    -------------------------------------------------------------------------
    MB-10-104      126.1             1.8                2.01               E
                   163.2             2.4               11.89              D1
    -------------------------------------------------------------------------
    MB-10-105      221.5            18.1                1.32             E-Z
                   266.9             1.2                7.46              D1
                   304.0            20.9                1.36             B-C
                   287.9             1.2               13.05               B
    -------------------------------------------------------------------------
    MB-10-106      225.9             1.2                6.40               2
                   277.6            23.3                1.86              EZ
                   275.2             1.2               28.80               E
                   317.2            14.1                2.47              D1
                   315.1             6.0                5.13              D1
                   374.0            20.5                1.89               C
                   367.2             5.3                4.30              C1
                   418.9            33.2                1.22             A-T
                   407.0             8.1                2.31               T
    -------------------------------------------------------------------------
    MB-10-107      368.0            80.8                1.21        B-D1-E-X
                   327.2             3.6               11.06              D1
                   391.0            12.4                0.44              C2
                   460.8            32.9                0.42          C1-A-T
    -------------------------------------------------------------------------
    MB-10-110      206.3             4.3                7.81               T
    -------------------------------------------------------------------------
    MB-10-111       49.5             1.2                6.51               2
                   191.5            50.7                0.56      A-B-C-D1-T
                   189.4            10.0                1.64               T
    -------------------------------------------------------------------------
    MB-10-112      150.8             3.6                2.03               T
    -------------------------------------------------------------------------
    MB-10-113      102.0             1.0                4.56               E
                   214.6            11.3                0.61               T
    -------------------------------------------------------------------------
    MB-10-114      310.2            43.2                0.35         B-C1-C2
                   361.4            27.3                0.74               T
                   336.1             0.8                4.44               T
                   356.0             2.4                3.11               T
    -------------------------------------------------------------------------
    MB-10-115      194.4            15.6                1.26            C-D1
                   193.2             6.2                2.45               C
    -------------------------------------------------------------------------
    MB-10-117      117.4             2.4               33.19               2
    -------------------------------------------------------------------------
    * Results for Holes MB-10-108 and 109 are pending. Hole MB-10-116
        was abandoned at 71 metres depth due to drilling difficulties.

Quality Control and Qualified Person

Reported intervals are in core lengths but are anticipated to approximate true width, except where structural complexities occur, as the holes were drilled nearly perpendicular to the principal local structural orientation.

Diamond drill holes were drilled with NQ-size core in order to obtain larger sample volumes of the mineralised zones. The core was sealed and delivered by the drilling contractor to NioGold’s facilities located at the Norlartic mine site. The core was photographed for reference, logged and mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Half core samples were bagged, sealed and delivered to ALS Chemex in Val-d’Or, Quebec, an accredited laboratory. The remaining core is stored on site for reference. Samples were assayed by the fire-assay method using an atomic absorption finish on a 50 gram pulp split. A quality assurance and quality control program (QA/QC) was implemented by NioGold and the laboratory to insure the precision and reproducibility of the analytical method and results. The QA/QC program includes the insertion of standards, blanks and field duplicates in the sample batches sent to the laboratory and a systematic re-assaying of samples returning values above 2 grams of gold per tonne by the fire-assay method using a gravimetric finish. As well, pulps grading above 0.5 grams of gold per tonne are sent to Bourlamaque Assay Laboratories Ltd. in Val-d’Or for check assaying.

Information of a scientific or technical nature in this news release has been reviewed by Martin Demers, P. Geo, Manager, Exploration, a Qualified Person as defined by National Instrument 43-101.

Additional Information

The attached sketch shows the geological context of the Marban Block property, the position of the drill holes and a plan view of the Marban Block deposit.

http://files.newswire.ca/734/NR110410_Sketch.pdf

About Aurizon

Aurizon is a gold producer with a growth strategy focused on developing its existing projects in the Abitibi region of north-western Quebec, one of the world’s most favourable mining jurisdictions and prolific gold and base metal regions, and by increasing its asset base through accretive transactions. Aurizon shares trade on the Toronto Stock Exchange under the symbol “ARZ” and on the NYSE Amex under the symbol “AZK”. Additional information on Aurizon and its properties is available on Aurizon’s website at http://www.aurizon.com.

Forward Looking Statements and Information

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities regulations in Canada and the United States (collectively, “forward-looking information”). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

Specifically, this news release contains forward-looking information with respect to future exploration work on the Marban Block property. Forward-looking information contained in this news release is based on certain assumptions that the Company believes are reasonable, that the current price of and demand for gold will be sustained or will improve. However, forward-looking information involves 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 the forward-looking information. Such factors include, among others, the risk that actual results of exploration activities will be different than anticipated, that required supplies, equipment or personnel will not be available or will not be available on a timely basis or that the cost of labour, equipment or supplies will increase more than expected, that the future price of gold will decline, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources are not as estimated, that actual costs or actual results of reclamation activities are greater than expected; that changes in project parameters as plans continue to be refined may result in increased costs, of accidents, labour disputes and other risks generally associated with exploration, unanticipated delays in obtaining governmental approvals or financing or in the completion of exploration activities, as well as those factors and other risks more fully described in Aurizon’s Annual Information Form filed with the securities commission of all of the provinces and territories of Canada and in Aurizon’s Annual Report on Form 40-F filed with the United States Securities and Exchange Commission, which are available on Sedar at www.sedar.com and on Edgar at www.sec.gov/. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

LaBarge, Inc. (LB) Reports Record Sales and Earnings for Fiscal 2011 First Quarter

ST. LOUIS–(BUSINESS WIRE)– LaBarge, Inc. (NYSE Amex: LB), a provider of electronics manufacturing services (EMS), today announced that strong, broad-based customer demand helped propel the Company’s financial results to record quarterly levels in the fiscal 2011 first quarter ended October 3, 2010, which consisted of 14 weeks instead of the typical 13 weeks.

“LaBarge had an excellent first fiscal quarter with bookings, sales and earnings setting new Company records and gross margin expanding from the same period last year. Our robust first-quarter results are attributable to outstanding operational execution and continued broad-based strength in customer demand, particularly in the defense, industrial and natural resources market sectors,” said Craig LaBarge, chairman of the board, chief executive officer and president.

Fiscal 2011 first-quarter net sales grew 35 percent to a record $85,448,000, compared with $63,155,000 in the comparable period a year earlier. Fiscal 2011 first-quarter net earnings grew 59 percent to a record $4,928,000, or $0.31 per diluted share, compared with $3,103,000, or $0.19 per diluted share, in the comparable period a year earlier.

Gross margin in the fiscal 2011 first quarter increased 100 basis points to 20.4 percent, compared with 19.4 percent in the fiscal 2010 first quarter.

Selling, general and administrative (SG&A) expense was $9,401,000, or 11.0 percent of sales, in the fiscal 2011 first quarter, compared with $8,090,000, or 12.8 percent of sales, in the fiscal 2010 first quarter.

Operating income in the fiscal 2011 first quarter was $8,030,000, or 9.4 percent of sales, up 94 percent from $4,140,000, or 6.6 percent of sales, in the fiscal 2010 first quarter.

Interest expense in the fiscal 2011 first quarter was $398,000, compared with $508,000 in the fiscal 2010 first quarter, reflecting lower average debt levels in the current-year period.

Income tax expense in the fiscal 2011 first quarter was $2,710,000, compared with $505,000 in the fiscal 2010 first quarter. Income tax expense in the 2010 period was impacted favorably by a one-time positive tax adjustment of $795,000.

Net cash from operating activities in the fiscal 2011 first quarter was $3,037,000, down from $6,262,000 in the fiscal 2010 first quarter, reflecting higher inventories in the current-year period to support increased sales levels.

Total debt at October 3, 2010, was $33,335,000, down 11 percent from $37,327,000 at June 27, 2010. Stockholders’ equity at October 3, 2010, was $120,598,000, up 4 percent from $115,640,000 at June 27, 2010.

Business Overview

Shipments to customers in the defense, industrial, natural resources and medical market sectors comprised approximately 96 percent of LaBarge’s fiscal 2011 first-quarter net sales.

Shipments to defense customers represented the largest portion of fiscal 2011 first-quarter net sales at 36 percent, compared with 49 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the defense market sector were virtually unchanged from the comparable period a year earlier.

Shipments to industrial customers represented 27 percent of fiscal 2011 first-quarter net sales, versus 17 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the industrial market sector increased 106 percent from the comparable period a year earlier, due to increased shipments across a wide range of industrial customers.

Shipments to natural resources customers represented 25 percent of fiscal 2011 first-quarter net sales versus 16 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the natural resources market sector increased 114 percent from the comparable period a year earlier, largely due to much higher shipments of electronic assemblies and systems to oil-and-gas and wind power customers.

Shipments to medical customers represented 9 percent of fiscal 2011 first-quarter net sales, versus 11 percent in the fiscal 2010 first quarter. In actual dollars, fiscal 2011 first-quarter net sales from the medical sector grew 8 percent from the comparable period a year earlier. The growth in medical sales from the prior year was the result of increased shipments to several medical sector customers.

Commentary and Outlook

“Order activity in all major market sectors was very strong during the fiscal 2011 first quarter, driving bookings to a record $113,596,000, up 70 percent from the comparable period a year earlier. Orders in the defense market sector led the way with first-quarter defense bookings growing 77 percent from the same period a year earlier,” said Mr. LaBarge. Higher bookings during the current-year first fiscal quarter resulted in backlog at October 3, 2010, increasing to $226,876,000, up 14 percent from $198,727,000 at June 27, 2010, and up 32 percent from $171,712,000 at the end of the fiscal 2010 first quarter. Approximately 78 percent of backlog at October 3, 2010, was scheduled to ship in the following 12 months.

“We expect sales and earnings in the fiscal 2011 second quarter, which will be a normal 13-week quarter, to be significantly higher than in last year’s second quarter. With regard to the 2011 full fiscal year, we expect net sales of $325 million to $340 million and diluted earnings per share of $1.12 to $1.18, compared with net sales of $289.3 million and diluted earnings per share of $0.93 in the 2010 fiscal year. Based on our current pipeline of new business opportunities, we believe bookings in our major market sectors will continue at a strong pace and will drive ongoing business strength throughout the current fiscal year,” said Mr. LaBarge.

Today’s Conference Call Webcast

Today, at 11 a.m. Eastern Time, LaBarge will host a live audio webcast of its discussion with the investment community regarding financial results for the Company’s fiscal 2011 first quarter. The webcast can be accessed on the Internet through http://viavid.net/dce.aspx?sid=00007CB1 and the investor relations calendar area of http://www.labarge.com. Following the live discussion, a replay of the webcast will be available at the same locations on the Internet. Any financial or statistical information presented during the call, including any non-GAAP financial measures, the most directly comparable GAAP measures and reconciliation to GAAP results, can be accessed via the news and events area of http://www.labarge.com.

About LaBarge, Inc.

LaBarge, Inc. is a broad-based provider of electronics to technology-driven companies in diverse industrial markets. The Company provides its customers with sophisticated electronic and electromechanical products through contract design and manufacturing services. Headquartered in St. Louis, LaBarge has operations in Arkansas, Missouri, Oklahoma, Pennsylvania, Texas and Wisconsin. The Company’s Web site address is http://www.labarge.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect LaBarge, Inc.’s operating results. These risks and factors are set forth in documents LaBarge, Inc. files with the Securities and Exchange Commission, specifically in the Company’s most recent Annual Report on Form 10-K and other reports it files from time to time. These forward-looking statements speak only as of the date such statements were made, or as of the date of the report or document in which they are contained, and the Company undertakes no obligation to update such information.

DG(R) (DGIT) Reports Third Quarter 2010 Results

DALLAS, TX — (Marketwire) — 11/04/10 — DG® (NASDAQ: DGIT), a leading provider of digital media services to the advertising, entertainment and broadcast industries, today reported record third quarter financial results. Consolidated revenue for the third quarter 2010 increased 18% to $56.9 million compared to $48.3 million in the same period of 2009. Third quarter adjusted EBITDA increased 24% to $26.0 million compared to $21.0 million for the same period of 2009.

“The Q3 results were driven by 59% growth in HD revenues, a result of both increasing demand from marketers and advertisers for HD spots, as well as accelerating HD adoption by the leading network and television broadcasters,” said Scott Ginsburg, Chairman and CEO of DG. “A solid start to the new television season and strong performance in the entertainment and automotive verticals surpassed Company expectations.”

“At the same time DG took steps to bring digital technology to the Direct Response advertising space, which is one of the last unconverted segments of the North America broadcast market,” said Neil Nguyen, President and Chief Operating Officer of DG. “The Company acquired Matchpoint Media, a leader in the infomercial distribution market, and launched a dual edge server solution to address the specific needs of this market. We made significant progress in leveraging this technology in our longform business, and are pleased with the success in transitioning our Pathfire business to a retail model, signing a number of customer agreements in the quarter.”

Third quarter highlights include:

• Revenue growth of 18% compared to the year-earlier period.
• Adjusted EBITDA was $26.0 million, up 24% from the same period of 2009, which reported Adjusted EBITDA of $21.0 million.
• Revenue from the Company’s Internet media service division, Unicast, increased 31% from the year earlier period.
• As of September 30, 2010, the Company reported $91.7 million in cash and no debt.
• Revenue from the delivery of HD advertising content increased 59% to $24.7 million compared to $15.6 million in the same period of 2009.
• Net income was $9.9 million, or $0.34 per diluted share, compared to net income of $5.4 million, or $0.22 per diluted share in the same period of 2009.
• Non-GAAP net income was $12.8 million, or $0.44 per diluted share, compared to non-GAAP net income of $7.4 million, or $0.30 per diluted share in the same period of 2009.
• The Company acquired Matchpoint Media, a leader in the $5 billion Direct Response industry, on October 1, 2010 for $26 million in cash.

The Company recorded the following items during the third quarter including:

• A benefit of approximately $0.8 million related to the settlement of a vendor lawsuit, which reduced cost of revenues.
• Approximately $0.4 million in general and administrative expenses for costs related to certain ongoing securities claims.
• Approximately $0.5 million in general and administrative expenses for transaction related costs.
• Approximately $0.7 million in interest expense related to write down of the remaining deferred financing costs in connection with the Company’s termination of its revolving credit facility.

The Company recorded approximately $3.5 million of costs in general and administrative expenses for the nine months ended September 30, 2010 related to the settlement of a vendor lawsuit.

Q4 and Full Year 2010 Outlook

The Company expects revenues for the fourth quarter, ending December 31, to be approximately $67 million to $69 million and adjusted EBITDA to be approximately $29 million to $31 million. For Full Year 2010 the Company expects revenues of $238 million to $240 million and adjusted EBITDA of approximately $107 to $109 million. These estimates include the fourth quarter results from Matchpoint Media, which was acquired as of October 1, 2010.

“With industry leading technology and unmatched customer service, paired with the financial strength driven by the solid free cash flow generated by the business model, we look forward to exploring strategic opportunities to expand value to customers and shareholders,” concluded Mr. Ginsburg.

The terms “Adjusted EBITDA” and “non-GAAP net income” are defined below.

Third Quarter 2010 Financial Results Webcast

The Company’s third quarter conference call will be broadcast live on the Internet at 8:30 a.m. ET on Thursday, November 4, 2010. The webcast is open to the general public and all interested parties may access the live webcast on the Internet at the Company’s Web site at www.DGit.com. Please allow 15 minutes to register and download or install any necessary software.

Non-GAAP Reconciliation, Adjusted EBITDA, Non-GAAP Net Income Definitions

In addition to providing financial measurements based on generally accepted accounting principles in the United States of America (GAAP), the Company has historically provided additional financial measures that are not prepared in accordance with GAAP (non-GAAP). Legislative and regulatory changes discourage the use of and emphasis on non-GAAP financial measures and require companies to explain why non-GAAP financial measures are relevant to management and investors. We believe that the inclusion of these non-GAAP financial measures in this press release helps investors to gain a meaningful understanding of our past performance and future prospects, consistent with how management measures and forecasts our performance, especially when comparing such results to previous periods or forecasts. Our management uses these non-GAAP measures, in addition to GAAP financial measures, as the basis for measuring our core operating performance and comparing such performance to that of prior periods and to the performance of our competitors. These measures are also used by management in its financial and operational decision-making. There are limitations associated with reliance on these non-GAAP financial measures because they are specific to our operations and financial performance, which makes comparisons with other companies’ financial results more challenging. By providing both GAAP and non-GAAP financial measures, we believe that investors are able to compare our GAAP results to those of other companies while also gaining a better understanding of our operating performance as evaluated by management.

The Company defines “Adjusted EBITDA” as net income, before interest, taxes, depreciation and amortization, share-based compensation, restructuring charges and benefits, and gains and losses on derivative instruments. The Company considers Adjusted EBITDA to be an important indicator of the Company’s operational strength and performance and a good measure of the Company’s historical operating trends.

Adjusted EBITDA eliminates items that are either not part of the Company’s core operations, such as gains and losses from derivative instruments, and net interest expense, or do not require a cash outlay, such as share-based compensation. Adjusted EBITDA also excludes depreciation and amortization expense, which is based on the Company’s estimate of the useful life of tangible and intangible assets. These estimates could vary from actual performance of the asset, are based on historical costs, and may not be indicative of current or future capital expenditures.

The Company defines “non-GAAP net income” as net income before amortization of intangible assets and share-based compensation expense. “Non-GAAP net income” also excludes the one-time charges related to the early payoff of all outstanding indebtedness, specifically the loss recognized to terminate interest rate swap agreements and write-off of deferred loan fees. All amounts excluded from “non GAAP net income” are reported net of the tax benefit these expenses provide.

The Company considers non-GAAP net income to be another important indicator of the overall performance of the Company because it eliminates the effects of events that are non-cash, or are not expected to recur as they are not part of our ongoing operations.

Adjusted EBITDA and non-GAAP net income should be considered in addition to, not as a substitute for, the Company’s operating income and net income, as well as other measures of financial performance reported in accordance with GAAP.

Reconciliation of Non-GAAP Financial Measures

In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, the Company is presenting the most directly comparable GAAP financial measures and reconciling the non-GAAP financial measures to the comparable GAAP measures.

About DG

DG FastChannel®, Inc. (now known as DG) provides innovative technology-based solutions to the advertising, broadcast and publishing industries. The Company serves more than 5,000 advertisers and agencies through a media distribution network of more than 28,000 radio, television, print and Web publishing destinations throughout the United States, Canada and Europe. DG utilizes satellite and internet transmission technologies, creative and production resources, digital asset management and syndication services that enable advertisers and agencies to work faster, smarter and more competitively. Through its Unicast, SourceEcreative, Treehouse and Springbox operating units, DG extends its benchmark of excellence to a wide roster of services ranging from custom rich media solutions and interactive marketing to direct response marketing and global creative intelligence. For more information, visit www.DGit.com.

Forward-Looking Statements

This release contains forward-looking statements relating to the Company. These forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. Such risks and uncertainties include the Company’s ability to integrate recent acquisitions and other risks relating to DG’s business which are set forth in the Company’s filings with the Securities and Exchange Commission. DG assumes no obligation to publicly update or revise any forward-looking statements.

(Financial Tables Follow)

                                     DG
           Unaudited Condensed Consolidated Statements of Income
                  (In thousands, except per share amounts)

                                  Three Months Ended     Nine Months Ended
                                     September 30,         September 30,
                                 --------------------  --------------------
                                    2010       2009       2010       2009
                                 ---------  ---------  ---------  ---------

Revenues                         $  56,939  $  48,268  $ 171,437  $ 133,403
Cost of revenues                    18,135     16,913     54,477     52,975
Sales and marketing                  3,291      3,174      9,868      9,022
Research and development             2,709      1,423      7,254      3,508
General and administrative           6,809      5,725     21,579     15,928
                                 ---------  ---------  ---------  ---------
Operating expenses, excluding
 depreciation and amortization
 and share-based compensation       30,944     27,235     93,178     81,433
                                 ---------  ---------  ---------  ---------

Adjusted EBITDA                     25,995     21,033     78,259     51,970
Depreciation and amortization        7,115      6,893     21,496     19,527
Share-based compensation             1,235      1,092      3,463      3,390
                                 ---------  ---------  ---------  ---------
Operating income                    17,645     13,048     53,300     29,053
  Write-off of deferred loan
   fees                                713         --      2,875        266
  Loss on interest rate swap
   termination                          --         --      2,135         --
  Other interest expense, net            9      2,378      2,235      9,335
                                 ---------  ---------  ---------  ---------
Interest expense and other, net        722      2,378      7,245      9,601
                                 ---------  ---------  ---------  ---------
Income before income taxes          16,923     10,670     46,055     19,452
Provision for income taxes           7,023      5,312     19,113      8,914
                                 ---------  ---------  ---------  ---------
Net income                       $   9,900  $   5,358  $  26,942  $  10,538
                                 =========  =========  =========  =========

Earnings per share:
    Basic                        $    0.35  $    0.22  $    0.99  $    0.47
    Diluted                      $    0.34  $    0.22  $    0.98  $    0.46

Weighted average shares
 outstanding:
    Basic                           28,400     23,828     26,896     22,101
    Diluted                         28,666     24,308     27,274     22,557

                                      DG
   Reconciliation of GAAP Net Income to Non-GAAP Net Income and Adjusted
                                   EBITDA
                  (In thousands, except per share amounts)
                                (Unaudited)

                                  Three Months Ended     Nine Months Ended
                                     September 30,         September 30,
                                 --------------------  --------------------
                                    2010       2009       2010       2009
                                 ---------  ---------  ---------  ---------

Net income                       $   9,900  $   5,358  $  26,942  $  10,538
Amortization of intangibles          3,027      2,930      9,080      8,790
Share-based compensation             1,235      1,092      3,463      3,390
Write-off of deferred loan fees
 and loss on interest rate swap
 termination                           713         --      5,010        266
Income tax effect of above items    (2,065)    (2,002)    (7,285)    (5,458)
                                 ---------  ---------  ---------  ---------
  Non-GAAP net income               12,810      7,378     37,210     17,526

Other interest expense, net              9      2,378      2,235      9,335
Add back income tax effect of
 items within Non-GAAP net
 income shown above                  2,065      2,002      7,285      5,458
Provision for income taxes           7,023      5,312     19,113      8,914
Depreciation expense                 4,088      3,963     12,416     10,737
                                 ---------  ---------  ---------  ---------
  Adjusted EBITDA                $  25,995  $  21,033  $  78,259  $  51,970
                                 =========  =========  =========  =========

Non-GAAP earnings per share:
  Basic                          $    0.45  $    0.31  $    1.37  $    0.78
  Diluted                        $    0.44  $    0.30  $    1.35  $    0.77

Weighted average shares
 outstanding:
  Basic                             28,400     23,828     26,896     22,101
  Diluted                           28,666     24,308     27,274     22,557

   Reconciliation of Diluted GAAP Earnings per Share to Diluted Non-GAAP
                             Earnings per Share
                                (Unaudited)

                                  Three Months Ended     Nine Months Ended
                                     September 30,         September 30,
                                 ---------  ---------  ---------  ---------
                                    2010       2009       2010       2009
                                 ---------  ---------  ---------  ---------

GAAP earnings per share -
 diluted                         $    0.34  $    0.22  $    0.98  $    0.46
Amortization of intangibles           0.10       0.12       0.33       0.39
Share-based compensation              0.04       0.04       0.13       0.15
Write-off of deferred loan fees
 and loss on interest rate swap
 termination                          0.03         --       0.18       0.01
Income tax effect of above items     (0.07)     (0.08)     (0.27)     (0.24)
                                 ---------  ---------  ---------  ---------
  Non-GAAP earnings per share -
   diluted                       $    0.44  $    0.30  $    1.35  $    0.77
                                 =========  =========  =========  =========

                                   DG
                 Condensed Consolidated Balance Sheets
                             (In thousands)

                                                September 30,  December 31,
                                                     2010          2009
                                                -------------  ------------
                                                 (unaudited)
Cash                                            $      91,677  $     33,870
Accounts receivable, net                               48,592        51,309
Property and equipment, net                            40,807        41,520
Goodwill                                              214,777       214,777
Deferred income taxes                                  15,265        28,066
Intangibles, net                                       93,330       102,411
Other                                                   4,588         6,339
                                                -------------  ------------
  Total assets                                  $     509,036  $    478,292
                                                =============  ============

Accounts payable and accrued liabilities        $      16,095  $     21,878
Deferred revenue                                        1,657         2,206
Debt                                                       --       102,462
Other                                                   2,586         4,580
                                                -------------  ------------
  Total liabilities                                    20,338       131,126
Total stockholders' equity                            488,698       347,166
                                                -------------  ------------
  Total liabilities and stockholders' equity    $     509,036  $    478,292
                                                =============  ============

For more information contact:
Omar Choucair
Chief Financial Officer
DG
972/581-2000

JoAnn Horne
Market Street Partners
415/445-3233

North American Financial Holdings Agrees to Invest $181 Million in Capital Bank (CBKN)

B. Grant Yarber, President and Chief Executive Officer, Capital Bank Corporation, +1-919-645-3494, gyarber@capitalbank-us.com; Christopher G. Marshall, Chief Financial Officer, North American Financial Holdings, Inc., +1-704-554-5901, cmarshall@nafhinc.com

Puda Coal (PUDA) Signs Agreements to Acquire Additional Coal Mines Under Pinglu Project Phase II

TAIYUAN, China, Nov. 3, 2010 /PRNewswire-Asia-FirstCall/ — Puda Coal, Inc. (NYSE Amex: PUDA) (“Puda Coal” or the “Company”), a supplier of high grade metallurgical coking coal used to produce coke for steel manufacturing in China and a consolidator of twelve coal mines in Shanxi Province, today announced that Shanxi Puda Coal Group Co. Ltd (“Shanxi Coal”), a 90% subsidiary of Puda Coal, entered into separate coal mining rights and mining assets transfer agreements with two coal mines located in Pinglu County, Shanxi Province, on October 28, 2010, Shanxi Pinglu Renling Coal Industry Ltd. (“Renling Coal”) and Pinglu County Donggou Coal Mine (“Donggou Coal”).

Pursuant to the agreement with Renling Coal, Shanxi Coal will pay Renling Coal an aggregate purchase price of RMB 205,000,000 (approximately $30.65 million) in cash, of which RMB 38,830,000 ($5.80 million) is for Renling Coal’s tangible assets and RMB 166,170,000 ($24.85 million) is for the mining rights of and compensation to Renling Coal.

Pursuant to the agreement with Donggou Coal, Shanxi Coal will pay Donggou Coal an aggregate purchase price of RMB 77,500,000 (approximately $11.59 million) in cash, of which RMB 9,130,000 ($1.37 million) is for Donggou Coal’s tangible assets and RMB 68,370,000 ($10.22 million) is for the mining rights of and compensation to Donggou Coal.

Under each agreement, Shanxi Coal agrees to pay 50% of the purchase price within three days of signing, 40% of the purchase price within 30 days after assets transfer is completed and the mining permits and property deeds are transferred, and the remaining 10% of the purchase price six months after the mining permits and property deeds are transferred.

Pursuant to the above agreements, Renling Coal and Donggou Coal will be responsible for canceling or terminating their respective employment contracts (or labor relationships) with their staff, paying all unpaid wage, premium and welfare expenses, and bearing all of the expenses caused by the cancellation or termination of the employment contracts.

Shanxi Coal plans to place all the purchased assets of Renling Coal and Donggou Coal into Shanxi Pinglu Dajinhe Jinyi Coal Industry Co., Ltd., a newly established project company approved by the Shanxi provincial government, which is one of the three project companies to be set up by Shanxi Coal as Phase II of the Pinglu Project.

Phase II of the Pinglu Project will be co-developed by Shanxi Coal, Mr. Zhao Ming and Mr. Gao Jianping (the “Co-Investors”) based on the Investment Cooperation Agreement signed on August 1, 2010, pursuant to which Shanxi Coal, Mr. Ming Zhao and Mr. Jianping Gao will contribute 40%, 30% and 30%, respectively, of the total investment needed for the consolidation and construction of Phase II of the Pinglu Project.

The Co-Investors authorized Shanxi Coal to manage Phase II of the Pinglu Project. The Renling Coal and Donggou Coal mining assets acquisition, as well as the subsequent project company construction, will be developed by the Co-Investors.

Upon completion of the transfer of the mining rights and mining assets under the above agreements, Shanxi Coal plans to close down Donggou Coal and consolidate its underground coal reserves into Renling Coal, which will undergo improvements and construction to increase the designed annual capacity of the two coal mines from the current aggregate annual capacity of 450,000 metric tons to 900,000 metric tons. The Company expects to complete the consolidation and restructuring within twelve months after the closing of the asset acquisitions.  Renling Coal and Donggou Coal have high quality thermal coal reserves and the underground coal reserves are intact and easy to explore.

“Our Pinglu Project Phase II continues to gain momentum as we have entered into definitive agreements to purchase four coal mines to be consolidated as part of Phase II,” commented Mr. Liping Zhu, CEO of Puda Coal. “We become increasingly confident in our ability to manage the coal mine consolidation process as we transform Puda Coal into an integrated coal washing and coal mining company. We believe our vertically integrated operations will further mitigate our operating risks, diversify our revenue sources and enhance our operating margin.”

About Puda Coal, Inc.

Puda Coal, through its subsidiaries, supplies premium high grade metallurgical coking coal used to produce coke for steel manufacturing in China. The Company currently possesses 3.5 million metric tons of annual coking coal capacity. The Company has recently moved upstream into coal mining, as a consolidator and acquirer of coal mines in Shanxi Province, including the Pinglu projects and the Jianhe projects. On September 30, 2009, Shanxi Coal, a 90% indirect subsidiary of the Company, was appointed by the Shanxi provincial government as an acquirer and consolidator of eight thermal coal mines located Pinglu County in southern Shanxi Province. Shanxi Coal plans to consolidate the eight coal mines into five, increasing their total annual capacity from approximately 1.6 million to 3.6 million metric tons. Shanxi Coal received another approval by the Shanxi provincial government to consolidate four additional coking coal mines into one coal mine in Huozhou County. After the completion of the consolidation, the Jianhe project is expected to increase the total annual capacity from 720,000 metric tons to 900,000 metric tons, according to the Shanxi provincial government’s approval. For more information, please visit http://www.pudacoalinc.com

Forward-Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. For example, the closing of the transactions contemplated under each coal mine acquisition agreement is subject to various closing conditions, and the anticipated annual capacity of the acquired coal mines will be subject to risks and uncertainties relating to market and geological conditions as well as our management‘s ability to operate and manage the coal mines. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Asia Entertainment & Resources Ltd. (AERL) Announces Rolling Chip Turnover for October 2010

Nov. 3, 2010 (Business Wire) — Asia Entertainment & Resources Ltd. (“AERL”) (NASDAQ: AERL, AERLW), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, today announced unaudited Rolling Chip Turnover (as defined below) for the month of October 2010 which includes the Golden Week holiday which started October 1st. Rolling Chip Turnover for the month of October 2010 for the company’s two VIP rooms in Macau was US$1.147 billion, up 72% year-over-year, compared to US$667 million for the month of October 2009. Rolling Chip Turnover for the first ten months of 2010 in Macau was US$7.882 billion, up 99% year-over-year, compared to US$3.951 billion for the first ten months of 2009.

The Company’s VIP rooms are primarily focused on high stakes baccarat. Baccarat accounts for approximately 88% of total Macau casino winnings according to the Macau Gaming Inspection and Coordination Bureau (DICJ). In Macau, two remuneration methods are used to compensate VIP room gaming promoters. On a fixed commission basis, VIP room gaming promoter revenues are based on an agreed percentage of Rolling Chip Turnover. On a win/loss split basis, the VIP room gaming promoter receives an agreed percentage of the “win” in the VIP gaming room (plus certain incentive allowances), and is required to also bear the same percentage of losses that might be incurred. Compared to the fixed commission basis, the win/loss split basis subjects the VIP room gaming promoter to the risk of losses from the gaming patron’s activity and greater volatility.

In the first nine months of 2009, all of AERL’s business was on a win/loss split model. However, to reduce the risks of losses and volatility, at the end of October 2009, AERL successfully transitioned the VIP room in the Galaxy Star World in Downtown Macau to a fixed 1.25% commission on Rolling Chip Turnover. During the first ten months of 2010, the majority of AERL’s business was on a fixed commission basis. The VIP room at the MGM Grand Hotel and Casino continues to operate at an approximately 43% (including certain incentive allowances) win/loss split basis. At this rate, and assuming a win rate (the percentage that a casino’s win is of the total amount bet) of 2.9%, AERL would have the same revenues at the MGM Grand Hotel as if it operated under a 1.25% fixed commission basis. However, if the win rate was over 2.9%, AERL would have more revenues than if it operated on the 1.25% fixed commission basis. For the month of October, the win rate at MGM – which generates approximately 20% of the Rolling Chip Turnover – continues to be below the average of 2.9%. Because the larger part of AERL’s revenues is now directly related to Rolling Chip Turnover, the Company is concentrating its marketing efforts to increase the number of patrons and the amount of play at its VIP gaming room that operates under the 1.25% fixed commission basis. Consequently, in order to increase the Rolling Chip Turnover, the Company reinvests its earnings to increase the amount of cage capital available to finance the increased patron activity. Based on a statistical average of 3.00%, AERL’s net profit before general and administrative expenses is typically 0.45% of the Rolling Chip Turnover.

Under the win/loss split model, AERL’s VIP gaming promoters’ gross win rate as a percentage of Rolling Chip Turnover has historically ranged between approximately 1.1% and 4.5%. The industry average gross win rate for Baccarat is approximately 2.85% to 3.00%. Theoretical win rates for AERL’s VIP gaming promoters’ VIP gaming room operations depend on a variety of factors, some beyond their control, such as the element of chance that characterizes the gaming industry. Theoretical win rates are also affected by other factors, including gaming patrons’ skill and experience, the mix of games played, the financial resources of gaming patrons, the spread of table limits, the volume of bets placed by AERL’s VIP gaming promoters’ gaming patrons and the amount of time gaming patrons spend on gambling — thus VIP gaming rooms’ actual win rates may differ greatly over short time periods, such as from quarter to quarter, and could cause quarterly results to be volatile. These factors, alone or in combination, have the potential to negatively impact the VIP gaming rooms’ win rates.

Definition of Rolling Chip Turnover

Rolling Chip Turnover is used by casinos to measure the volume of VIP business transacted and represents the aggregate amount of bets players make. Bets are wagered with “non-negotiable chips” and winning bets are paid out by casinos in so-called “cash” chips. “Non-negotiable chips” are specifically designed for VIP players to allow casinos to calculate the commission payable to VIP room gaming promoters. Commissions are paid based on the total amount of “non-negotiable chips” purchased by each player. VIP room gaming promoters therefore require the players to “roll,” from time to time, their “cash chips” into “non-negotiable” chips for further betting so that they may receive their commissions (hence the term “Rolling Chip Turnover”). Through the promoters, “non-negotiable chips” can be converted back into cash at any time. Betting using rolling chips, as opposed to using cash chips, is also used by the DICJ to distinguish between VIP table revenue and mass market table revenue.

About Asia Entertainment & Resources Ltd.

AERL, formerly known as CS China Acquisition Corp., acquired AGRL on February 2, 2010. AGRL is an investment holding company of subsidiaries that, through profit interest agreements with affiliated companies known as VIP gaming promoters, are entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. AGRL’s VIP room gaming promoters currently participate in the promotion of two major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One of the VIP gaming rooms is located at the top-tier MGM Grand Macau Casino in downtown Macau that is operated by the MGM Grand Paradise S.A. The other Macau VIP gaming facility is located in the luxury 5-star hotel, the Star World Hotel & Casino in downtown Macau, which is operated by Galaxy Casino, S.A.

Forward Looking Statements

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

Asia Entertainment & Resources Ltd.

James Preissler, 646-450-8808

preissj@aerlf.com

Fushi Copperweld, Inc. (FSIN) Announces Receipt of ‘Going Private’ Proposal at $11.50 Per Share

BEIJING, Nov. 3, 2010 /PRNewswire-Asia-FirstCall/ — Fushi Copperweld, Inc. (“Fushi” or the “Company”) (Nasdaq: FSIN ), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today announced that its Board of Directors has received a proposal letter from its Chairman and Chief Executive Officer, Mr. Li Fu (“Mr. Fu”) and Abax Global Capital (Hong Kong) Limited on behalf of funds managed by it and its affiliates (“Abax”) for Mr. Fu and Abax to acquire all of the outstanding shares of Common Stock of Fushi not currently owned by Mr. Fu and his affiliates in a going private transaction for $11.50 per share in cash, subject to certain conditions. Mr. Fu and his affiliates own approximately 29.2% of Fushi’s Common Stock.  According to the proposal letter, Mr. Fu and Abax will form an acquisition vehicle for the purpose of completing the acquisition and plan to finance the acquisition with a combination of debt and equity capital. The proposal letter states that the equity portion of the financing would be provided by Mr. Fu, Abax and related sources. The proposal letter also states that Mr. Fu and Abax are currently in discussion to engage a financial advisor to the acquisition vehicle that will be formed by Mr. Fu and Abax.

Fushi’s Board of Directors has formed a special committee of independent directors consisting of John F. “Jack” Perkowski, Barry Raeburn and Feng Bai (the “Special Committee”) to consider this proposal. The Special Committee intends to retain independent advisors, including an independent financial advisor, to assist it in its work. No decisions have been made by the Special Committee with respect to Fushi’s response to the proposal. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

About Fushi Copperweld

Fushi Copperweld, Inc., through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co. Ltd., and Copperweld Bimetallics LLC, is the leading manufacturer and innovator of copper-clad bimetallic engineered conductor products for electrical, telecommunications, transportation, utilities and industrial applications. With extensive design and production capabilities, and a long-standing dedication to customer service, Fushi Copperweld is the preferred choice for bimetallic products worldwide.

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as “will” “believes”, “expects” or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC’s electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.

Magic Software (MGIC) Triples Operating Profits for Third Quarter of 2010

Tania Amar, VP Marketing, Magic Software Enterprises Ltd., Tel. +972 (0)3 538 9300, ir@magicsoftware.com

Lincoln Educational Services Corp. (LINC) Reports Third Quarter Results

CONTACT: Lincoln Educational Services Corporation
         Cesar Ribeiro, Chief Financial Officer
         973-736-9340

Aoxing Pharmaceutical (AXN) Announces Management Changes

NEW YORK, NY–(Marketwire – 11/02/10) – Aoxing Pharmaceutical Co., Inc. (AMEX:AXN – News) (“Aoxing Pharma”), a specialty pharmaceutical company focusing on research, development, manufacturing and distribution of narcotic and pain-management products, today announced that Hui (David) Shao has resigned from his position as Chief Financial Officer to pursue other opportunities, effective on November 1, 2010. Mr. Shao has agreed to stay on in a consulting capacity to assist in the transition through the filing of Aoxing Pharma’s September 2010 10-Q. Guoan Zhang has been appointed interim CFO, and will assume Mr. Shao’s responsibilities. Mr. Zhang is the Controller for Aoxing Pharma’s subsidiary, Hebei Aoxing Pharmaceutical Co., Inc.

“Mr. Shao has played an important leadership role in helping Aoxing achieve a great deal of success and we thank him for all his efforts,” said Mr. Zhenjiang Yue, Chairman and CEO of Aoxing Pharma. “Over the past few years we have improved our financial standing and secured several international collaborations, including the recent joint venture with Johnson Matthey, greatly expanding the reach and future potential for Aoxing. We wish Mr. Shao well on his future endeavors and appreciate his support in helping us accomplish many major milestones.”

“I am proud to have been a part of Aoxing Pharma over the past several years as we have transformed into one of the leading Chinese specialty pharmaceutical companies,” said Mr. Shao. “Though I am moving on to an opportunity in another sector, I have worked closely with Guoan Zhang and am confident that he is very capable of handling the CFO duties.

The Company has commenced a search for a new Chief Financial Officer, being led by John O’Shea, head of the nominating committee of Aoxing Pharma’s Board of Directors.

About Aoxing Pharmaceutical Company, Inc.

Aoxing Pharmaceutical Company, Inc is a US incorporated specialty pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, outside Beijing, Aoxing has the largest and most advanced manufacturing facility in China for highly regulated narcotic medicines. Its facility is one of the few GMP facilities licensed for the manufacture of narcotic medicines by the China State Food and Drug Administration (SFDA). It has a joint venture collaboration with Johnson Matthey Plc to produce and market narcotics and neurological drugs in China. It also has strategic alliance partnerships with QRxPharma, Phoenix PharmaLabs, Inc and American Oriental Bioengineering, Inc. For more information, please visit: www.aoxingpharma.com.

Safe Harbor Statement from Aoxing Pharmaceutical Company, Inc

Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other risk factors identified in the Company’s filings with the Securities and Exchange Commission, including the Form 10-K for the year ended June 30, 2010, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.