Mercantile Bancorp (MBR) Announces 2009 Financial Results

QUINCY, IL–(Marketwire – 04/06/10) – Mercantile Bancorp, Inc. (AMEX:MBR – News)

 
--  Debt Reduction Completed, Capital Structure Strengthened
--  Successful Debt Exchange for Missouri Bank
--  Sale of Two Illinois Banks
--  Core Bank Operating Results Remain Solid

Mercantile Bancorp, Inc. (AMEX:MBR – News) today reported an unaudited net loss from both continuing and discontinued operations of $4.3 million or $(.49) per share for the quarter ended December 31, 2009, compared with a net loss of $6.7 million or $(0.77) per share in fourth quarter 2008.

For the year ended December 31, 2009, the Company reported a net loss from both continuing and discontinued operations of $58.5 million or $(6.72) per share compared with a net loss of $8.8 million or $(1.01) per share in 2008. A significant portion of the 2009 net loss was attributable to non-cash expenses, including a $44.6 million goodwill impairment loss, $2.9 million in write-downs of foreclosed assets and $3.4 million in other-than-temporary impairments related to equity investments.

In 2009, the Company’s continuing operations reported net interest income of $21.2 million compared with $21.8 million in 2008. Provision for loan losses decreased to $22.1 million in 2009 from $23.2 million the previous year. Total noninterest income in 2009 was $7.8 million compared with $9.2 million in 2008. Total noninterest expense in 2009 increased to $71.5 million, compared with $38.6 million in 2008, primarily due to a $30.4 million goodwill impairment charge, and FDIC insurance premiums that included a one-time special assessment escalating to $2.8 million in 2009 versus $0.8 million in 2008, and expenses related to the Company’s recapitalization activities.

The Company’s net loss from discontinued operations was $8.0 million in 2009 compared to net income of $7.8 million in 2008. Included in the net loss from discontinued operations in 2009 was a goodwill impairment charge of $14.0 million related to the Company’s acquisition of HNB National Bank in 2007 and subsequent disposition in 2009.

Total assets at December 31, 2009, were $1.4 billion compared with $1.8 billion at year-end 2008 while total loans, net of allowance for loan losses, were $757.1 million at year-end 2009 compared with $1.3 billion at year-end 2008. Total deposits at December 31, 2009 were $954.5 million compared with $1.5 billion at December 31, 2008.

As previously disclosed, in December 2009 the Company completed the exchange of one of its wholly-owned subsidiary banks, HNB National Bank, located in Hannibal, Missouri for the retirement of $28 million in debt. In November 2009, the Company had reached agreement to sell two of its Illinois subsidiaries, Marine Bank & Trust and Brown County State Bank, in a transaction for cash that closed in February 2010. Part of the proceeds from this sale was used to repay an additional $16 million in debt.

Because of the exchange and sale of these subsidiary banks, the Company’s consolidated balance sheet as of December 31, 2009, excludes HNB National Bank. The assets and liabilities of Marine Bank & Trust and Brown County State Bank are included in the December 31, 2009 balance sheet, but are reflected as “Discontinued operations, assets held for sale” and “Discontinued operations, liabilities held for sale.” The consolidated statement of operations for 2009, as well as the restated statement of operations for 2008, reflects the income and expenses of all three banks as “Income (loss) from discontinued operations.”

For the quarter ended December 31, 2009, the Company reported net interest income from continuing operations of $5.5 million compared with $4.9 million in fourth quarter 2008. Provision for loan losses decreased to $4.4 million in fourth quarter 2009 from $8.6 million in the same period a year ago. Total noninterest income in fourth quarter 2009 was $1.8 million compared with $1.7 million in fourth quarter 2008.

“We have emerged in 2010 smaller and with a new mission,” said Ted T. Awerkamp, President and CEO. “We took a number of meaningful actions in 2009 to bolster the Company’s capital position and provide the foundation needed to pursue future opportunities. That said, however, we will implement additional changes in 2010 to reduce our cost structure. Aggressive plans have been developed and will be executed as the year unfolds to address our new size and a new direction this industry is taking. We have achieved much through a difficult stretch, but there is still work to do and it will be done in 2010.

“Our ongoing subsidiary institutions, Mercantile Bank, Heartland Bank and Royal Palm Bank, exceed regulatory standards for being well capitalized. Mercantile Bank recorded continuing stable operational performance. Heartland and Royal Palm both faced numerous difficulties in 2009, but have made excellent progress in stabilizing their loan portfolios and are positioning themselves for recovery.”

Awerkamp continued: “We believe the Company’s fourth quarter 2009 performance from continuing operations provides some valuable insights about our potential for the future. Net interest income increased, and the reduction in long-term debt will be a further benefit in that area. We also saw a significant decline in the provision for loan losses as we have worked diligently to address asset-quality issues. Increased fiduciary activities reflect an improving stock market and we also demonstrated sound operational controls in our expense items.

“Operational performance at our core Mercantile Bank franchise was on-plan as it recorded growth in a number of areas and experienced minimal issues related to problem loans. Royal Palm Bank, which we were able to recapitalize following our successful multi-step recapitalization and debt reduction plan at the holding company, is moving forward with its recovery, although slower than anyone would like. The Southwestern Florida economy remains one of nation’s most challenged areas because of its dependence on real estate and a backlogged court system.

“Heartland Bank in Leawood, Kansas has worked through many loan-related issues. We are confident in that bank’s prospects as the Kansas City area economy recovers. With the recapitalization of the holding company, including significant debt reduction, we’re confident in our ability to provide strong and stable support for our subsidiary banks.”

Awerkamp noted the management team at Heartland Bank, working closely with Mercantile Bancorp management, generated consecutive quarter improvements in net interest margin in 2009. Mercantile has a 56% controlling interest in Heartland’s parent corporation, Mid-America Bancorp, Inc. Awerkamp explained that Heartland has been aggressive in reserving for potential losses and in working to liquidate their problem assets. In 2009 the Company’s net loss related to its interest in Mid-America declined to $2.3 million compared with $4.1 million in 2008.

Outlook

Awerkamp concluded, “The deliberate and decisive actions taken have contracted the Company, but soundly position it to go forward with reduced debt, a solid capital footing and sound management teams. We retain considerable future upside in our Illinois, Indiana, Missouri, Kansas and Florida markets, particularly as the economy strengthens. Expense contraction and organizational streamlining to fit our new size will be achieved from the top down. We remain an institution with considerable earnings power.

“Our core markets have delivered solid returns for Mercantile Bancorp and our shareholders for many years. Despite low visibility for the economy and banking industry, we continue serving our customers and shareholders well, and maintaining our banks and Company as pillars of strength in the communities we diligently serve. We have taken corrective steps to get through the worst of the current times; we now will take steps to adapt to our new size and changing industry dynamics.”

About Mercantile Bancorp

Mercantile Bancorp, Inc. is a Quincy, Illinois-based bank holding company with majority-owned subsidiaries consisting of one bank in Illinois and one each in Kansas and Florida, where the Company conducts full-service commercial and consumer banking business, engages in mortgage banking, trust services and asset management, and provides other financial services and products. The Company also operates a Mercantile Bank branch office in Indiana. In addition, the Company has minority investments in eight community banks in Missouri, Georgia, Florida, Colorado, California and Tennessee. Further information is available on the company’s website at http://www.mercbanx.com/.

Forward-Looking Statements

This press release may contain “forward-looking statements” which reflect the Company’s current views with respect to future events and financial performance. The Private Securities Litigation Reform Act of 1995 (“the Act”) provides a safe harbor for forward-looking statements that are identified as such and are accompanied by the identification of important factors that could cause actual results to differ materially from the forward-looking statements. For these statements, the Company, together with its subsidiaries, claims the protection afforded by the safe harbor in the Act. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. These risks, uncertainties and other factors that may cause actual results to differ from expectations, are set forth in our Annual Report on Form 10-K for the year ended December 31, 2009, and Forms 10-Q for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009, as on file with the Securities and Exchange Commission, and include, among other factors, the following: general business and economic conditions on both a regional and national level; fluctuations in real estate values; the level and volatility of the capital markets, interest rates, and other market indices; changes in consumer and investor confidence in, and the related impact on, financial markets and institutions; estimates of fair value of certain Company assets and liabilities; federal and state legislative and regulatory actions; various monetary and fiscal policies and governmental regulations; changes in accounting standards, rules and interpretations and their impact on the Company’s financial statements. The words “believe,” “expect,” “anticipate,” “project,” and similar expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements. Any forward-looking statements in this release speak only as of the date of the release, and we do not assume any obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contained in the forward-looking statements.

Virage Logic (VIRL) Updates Second-Quarter Fiscal 2010 Outlook

Apr. 6, 2010 (Business Wire) — Virage Logic Corporation (NASDAQ: VIRL), the semiconductor industry’s trusted IP partner, today announced that it is raising second fiscal quarter ending March 31^st, revenue guidance to a range of $24.8 to $25.0 million, compared to its previously announced estimates of $23.5 to $24.0 million. Excluding the effects of stock based compensation, acquisition related expenses, amortization and any restructuring charges, non-GAAP per share results should fall into a range of $0.06 to $0.07 earnings per share (EPS) versus $0.01 to $0.02 per share as previously guided. During the second quarter, the Company expects to realize, before tax and any extraordinary charges, approximately $3.7 million to $4.1 million in non-GAAP adjustments, comprised primarily of stock-compensation, amortization and acquisition-related expenses.

“Rapid integration of our recent acquisitions, coupled with tight spending controls and a significant increase in royalty revenues, have contributed to improving both our top and bottom lines faster than we had forecasted,” stated J. Daniel McCranie, executive chairman, Virage Logic. “In addition, with a large shippable backlog and strong bookings performance in the second quarter, we expect to post total revenue for the third fiscal quarter of this year in a range of $26.0 to $27.0 million, with a resulting Non-GAAP EPS (excluding any restructuring charges) of $0.10 to $0.13.”

Virage Logic cautions that these anticipated results are preliminary, based on the best information currently available, and subject to the closing of its financial records and customary quarterly accounting procedures.

The company plans to report its final results for the second-quarter of fiscal 2010 after the close of market on May 5^th, 2010, including GAAP EPS and a reconciliation of GAAP and non GAAP EPS, and will provide a detailed business outlook at that time.

About Virage Logic

Virage Logic is a leading provider of semiconductor intellectual property (IP) for the design of complex integrated circuits. The company’s highly differentiated product portfolio includes processor solutions, interface IP solutions, embedded SRAMs and NVMs, embedded test and yield optimization solutions, logic libraries, and memory development software. As the semiconductor industry’s trusted IP partner, more than 400 foundry, IDM and fabless customers rely on Virage Logic to achieve higher performance, lower power, higher density and optimal yield, as well as shorten time-to-market and time-to-volume. For further information, visit http://www.viragelogic.com.

Use of Non-GAAP Information

We believe the financial figures we include that are not presented in accordance with GAAP assist investors in understanding our business and operating results. This information is intended to provide investors with useful supplemental data regarding the underlying economics of our business operations because operating results presented under GAAP may include charges that are nonrecurring or not necessarily relevant to ongoing operations, or are difficult to forecast for future periods. The Company’s management evaluates and makes operating decisions about its business operations primarily based on revenue and the core costs of those business operations. Management believes that goodwill impairment charges, valuation allowance on deferred tax assets, restructuring charges, acquisition-related charges and stock-based compensation are not part of its core business operations. Therefore, management presents non-GAAP financial measures by excluding these items from the period expenses. The income statement line items involved in the adjustment from GAAP to non-GAAP presentation are, restructuring charges, acquisition-related charges, amortization and stock-based compensation that are included in cost of revenues, research and development, general and administrative and sales and marketing expenses. To determine our non-GAAP tax provision, the Company recalculates tax based on non-GAAP income before taxes and adjusts accordingly.

For each such non-GAAP measure, the adjustment provides management with information about the Company’s underlying operating performance that enables a more meaningful comparison of our finance results in different reporting periods. For example, since the Company does not acquire businesses on a predictable cycle, management excludes acquisition-related charges in order to provide a more consistent and meaningful evaluation of the Company’s operating expenses. Management also excludes goodwill impairment, valuation allowance on deferred tax assets and restructuring charges as these are non-recurring charges which are not expected to occur on a regular basis. Management also excludes the impact of stock-based compensation to help it compare current period operating expenses against the operating expenses for prior periods. In addition, the availability of non-GAAP information helps management track actual performance relative to financial targets. This information also helps investors compare the Company’s performance with other companies in the industry, which use similar financial measures to supplement their GAAP financial information.

The Company also presents non-GAAP net income (loss) per share excluding the net loss for NXP Strategic Outsourcing. Our operations related to NXP Strategic Outsourcing are distinct from our other operations given that they are run separately in the Netherlands, have operating costs that are associated only with them as opposed to our other operations, were only recently acquired and are in the process of being integrated. The only revenue associated from these operations is under our agreements with NXP. All general and administrative expenses of the Company are included in non-GAAP net income (loss) per share excluding operating loss for NXP Strategic Outsourcing (i.e. we have not allocated to NXP Strategic Operations, nor have we excluded from non-GAAP net income (loss) per share excluding operating loss for NXP Strategic Outsourcing, any general and administrative expenses). We believe that presenting net income without operating loss for NXP Strategic Outsourcing is helpful to investors because it enables them to track incremental expenses related to these operations as well as the progress of our integration effort towards the goal of achieving operating profit for the NXP Strategic Outsourcing operations.

Management recognizes that the use of these non-GAAP measures has limitations, including the fact that management must exercise judgment in determining which types of charges should be excluded from the non-GAAP financial information. Management believes that providing this non-GAAP financial information, in addition to GAAP information facilitates consistent comparison of the Company’s financial performance over time. The Company has historically provided non-GAAP information to the investment community, not as an alternative but as an important supplement to GAAP information, to enable investors to evaluate the Company’s core operating performance in the way that management does.

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

Statements made in this news release, other than statements of historical fact, and any assumptions underlying these statements, are forward-looking statements, including, for example, statements relating to the currently anticipated financial results for the second and third quarters of fiscal 2010, company trends, business outlook and technology leadership. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include Virage Logic’s ability to improve its operations; its ability to forecast its business, including its revenue, income and order flow outlook; Virage Logic’s ability to execute on its strategy; the company’s ability to overcome the challenges associated with establishing licensing relationships with semiconductor companies; the company’s ability to obtain royalty revenues from customers in addition to license fees; business and economic conditions generally and in the semiconductor industry in particular; competition in the market for semiconductor IP platforms; and other risks including those described in the company’s Annual Report on Form 10-K for the period ended September 30, 2009, and in Virage Logic’s other periodic reports filed with the SEC, all of which are available from Virage Logic’s website (www.viragelogic.com) or from the SEC’s website (www.sec.gov), and in news releases and other communications. Virage Logic disclaims any intention or duty to update any forward-looking statements made in this news release.

PURE Bioscience (PURE) Receives U.S. EPA Registration

Apr. 6, 2010 (Business Wire) — PURE Bioscience (NASDAQ:PURE), creator of the patented silver dihydrogen citrate (SDC) antimicrobial, announced today that it has received U.S. Environmental Protection Agency (EPA) registration for its SDC-based disinfectant and food contact surface sanitizer. The product will be marketed as IV-7 Ultimate Germ Defense for Food Contact Surfaces™ (IV-7) by PURE’s sales and marketing representative, Richmont Sciences, LLC. An EPA Category IV disinfectant/sanitizer, IV-7 provides an advantageous combination of high efficacy, low toxicity and efficiency by rapidly eliminating dangerous pathogens, yet no rinse is required.

IV-7 Ultimate Germ Defense for Food Contact Surfaces™ harnesses the broad-spectrum power of SDC for use on surfaces and equipment in dozens of settings including food processing plants, farms, food storage areas, restaurants, fast food operations, cafeterias, supermarkets, break rooms, schools, hospitals and other institutions, as well as in homes. IV-7 helps prevent cross-contamination in food contact environments and eliminates odors. In addition, the odorless IV-7 formula does not create irritating fumes, which is a particular benefit for restaurants.

Michael L. Krall, President and CEO of PURE Bioscience, stated, “Our completion of the rigorous six-year federal registration process to bring this much-needed technology to market will improve public safety protections in food processing, packaging, distribution and service. We are working diligently to register the product in all 50 states; however, because many food industry companies operate in single states or regions, we plan to begin selling IV-7 Ultimate Germ Defense for Food Contact Surfaces™ on a state-by-state basis later this month as registrations are issued.”

“This product is a major breakthrough in the war against germs for every part of the food industry,” added John Rochon, Chairman of Richmont. “There has never been anything like it. From food processing all the way to serving food at home and in restaurants, this is going to change the way we defend ourselves against germs. We believe that the food processing industry and the food service industry are going to love this product, and that it will ultimately save lives. In the home kitchen, it’s going to change the way people protect their families.”

Unlike traditional alcohol- or bleach-based surface disinfectants and sanitizers, IV-7 requires no hazard or warning statements and carries bacterial kill times as quick as 30 seconds, compared with 10 minutes for competing products. IV-7 provides powerful protection against a broad range of microbes, including those of particular concern in food processing and kitchen areas such as E. coli, Salmonella, Listeria and Campylobacter jejuni, as well as resistant pathogens such as MRSA. IV-7 continues to kill bacteria for up to 24 hours after usage – yet, with its EPA Category IV toxicity rating, the lowest classification, SDC is also labeled for use in sensitive areas such as those used by children.

The newly registered disinfectant/sanitizer is the third offering in PURE’s IV-7 line of products. Last month, PURE Bioscience launched IV-7 Ultimate Germ Defense™, an advanced disinfectant product initially targeted to janitorial and sanitation markets. Earlier in the year, IV-7 Water Purifier was shipped to Haiti for use in earthquake-ravaged areas. Donation of SDC in liquid concentrate form was made through Project Hope, and was sufficient to purify 40 million gallons of water for safe drinking.

Additional information about IV-7 Ultimate Germ Defense™ and IV-7 Ultimate Germ Defense for Food Contact Surfaces™ is now available at www.IV-7.net.

Food Safety – A Serious Public Health Issue

The Centers for Disease Control and Prevention (CDC) estimates that foodborne pathogens cause 76 million illnesses per year in the U.S., resulting in 325,000 hospitalizations and 5,200 deaths. Although Americans have come to expect such risks associated with meat products like raw hamburger, the proportion of outbreaks caused by seemingly innocuous fruits and vegetables is increasing. E. coli alone causes approximately 70,000 infections each year, and 5-10% of those infected develop a potentially fatal kidney complication called hemolytic uremic syndrome.

In addition to health problems, foodborne illnesses can also have a significant negative economic impact on businesses through food recalls and loss of consumer confidence. For example, Salmonellosis is estimated by the CDC to cost more than $1 billion in medical costs and lost wages annually.

About PURE Bioscience

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

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

China Information Security Technology (CPBY) Selected by the State Grid Corporation of China

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PharmAthene (PIP) Appoints Industry Leader Thomas R. Fuerst Chief Scientific Officer

ANNAPOLIS, Md., April 5 /PRNewswire-FirstCall/ — PharmAthene, Inc. (NYSE Amex: PIP), a biodefense company developing medical countermeasures against biological and chemical threats, today announced the appointment of Thomas R. Fuerst, Ph.D., as the company’s Senior Vice President, Chief Scientific Officer.  In this newly created role, Dr. Fuerst will oversee PharmAthene’s research and development programs and provide strategic scientific direction for the Company.

Dr. Fuerst is a senior biotechnology leader and former government official with over 20 years of experience in the research, development, and manufacturing of biological products, and strategic planning. He has served as a leader at the nexus of government, industry, and academia and brings to PharmAthene extensive scientific expertise and knowledge of state-of-the-art technologies and practices used in the discovery and development of vaccines and biotherapeutic products.

“Tom has dedicated his life and career to this industry and we are honored to have him as a new member of the PharmAthene team,” said David P. Wright, Chief Executive Officer. “His executive management experience in both government and private industry, coupled with specialized scientific and manufacturing expertise, will be a valuable asset to PharmAthene as we pursue our goal of becoming the leading provider of medical countermeasures to the U.S. government.”

Prior to joining PharmAthene, Dr. Fuerst was Director, Vaccines and Biologics (2004-2007), and Senior Science and Technology Advisor (2007-present) for the U.S. Department of Health and Human Services (HHS). In these positions, he led the development and acquisition of vaccines and biotherapeutic products for biodefense and other emerging public health threats, including anthrax, smallpox, botulism, and pandemic flu.  During his tenure at HHS, Dr. Fuerst helped establish the Biomedical Advanced Research and Development Authority (BARDA) and oversaw the planning, implementation, and monitoring of medical countermeasure development and acquisition, while managing a budget of approximately $3.0 billion.  Dr. Fuerst received several awards for his exemplary service including the Secretary’s Award for Distinguished Service, Outstanding Performance and Leadership in 2005 and 2006.

Previously, Dr. Fuerst served as Executive Director of Corporate Development at Sanofi Pasteur, Inc., where he oversaw the scientific and business transactions for vaccines and immunotherapeutic products for infectious diseases and cancer, and played a key role in establishing the company’s biodefense initiative post 9/11. He also led a collaborative R&D group to develop a next generation anthrax vaccine in response to the National Institute of Health’s Request for Proposal (RFP).

Prior thereto, he was Vice President, Research and Development, at Genelabs Technologies, additionally, Dr. Fuerst served as Director, Molecular Genetics, at MedImmune, Inc.  He also served as a senior fellow at the National Institutes of Health, NIAID, in Bethesda, MD.

Dr. Fuerst holds a B.A. in Biochemistry from the University of California at Berkeley, a Ph.D. in Molecular Genetics from Cornell University, and a MBA in Science, Technology, and Innovation from the George Washington University. He has published over fifty research articles and has been issued six patents. His professional affiliations include the American Society for Microbiology, the American Society for the Advancement of Science, and the Licensing Executive Society.

“The development and procurement of modern, state-of-the-art vaccines and therapeutics to protect the U.S. civilian population and military personnel represents an important national security imperative,” commented Dr. Fuerst.  “PharmAthene has established a leading portfolio of urgently needed, next generation medical countermeasures based on modern biotechnology principals, which incorporate significant product development and technological advancements that may provide significant health and economic advantages for our nation.  I am delighted to have the opportunity to apply my expertise in medical countermeasures development to assist PharmAthene in its mission, and look forward to working closely with our partners in government to advance these important technologies.”

About PharmAthene, Inc.

PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons. PharmAthene’s lead product development programs include:

• SparVax™ – a second generation recombinant protective antigen (rPA) anthrax vaccine
• Third generation rPA anthrax vaccine
• Valortim® – a fully human monoclonal antibody for the prevention and treatment of anthrax infection
• Protexia® – a novel bioscavenger for the prevention and treatment of morbidity and mortality associated with exposure to chemical nerve agents

For more information about PharmAthene, please visit www.PharmAthene.com.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements preceded by, followed by, or that include the words “potential”; “believe”; “anticipate”; “intend”; “plan”; “expect”; “estimate”; “could”; “may”; “should”; or similar statements are forward-looking statements. PharmAthene disclaims, however, any intent or obligation to update these forward-looking statements. Risks and uncertainties include risk associated with the reliability of the results of the studies relating to human safety and possible adverse effects resulting from the administration of the Company’s product candidates, unexpected funding delays and/or reductions or elimination of U.S. government funding for one or more of the Company’s development programs, the award of government contracts to our competitors, unforeseen safety issues, challenges related to the development, scale-up, technology transfer, and/or process validation of manufacturing processes for our product candidates, unexpected determinations that these product candidates prove not to be effective and/or capable of being marketed as products, as well as risks detailed from time to time in PharmAthene’s Forms 10-K and 10-Q under the caption “Risk Factors” and in its other reports filed with the U.S. Securities and Exchange Commission (the “SEC”).

Copies of PharmAthene’s public disclosure filings are available from its investor relations department and our website under the investor relations tab at www.PharmAthene.com.

Microvision (MVIS) Receives $8.5 Million Purchase Order

Apr. 5, 2010 (Business Wire) — Microvision (NASDAQ:MVIS), a leading developer of ultra-miniature projection display products, announced today that it has received an $8.5 million purchase order for its new ultra-miniature PicoP® laser projection display engine from a consumer electronics customer. The OEM plans to embed the PicoP engine inside a high-end mobile media player for release in late 2010 and plans to announce its launch at that time.

Microvision recently announced the completion and shipment of initial samples of its new display engine that incorporates a proprietary ASIC chipset half the original size and weight and that consumes one third less power than its predecessor while delivering uniformly bright, vivid color WVGA (848 X 480) images up to 200 inches. It also provides a 5000:1 contrast ratio – 5 times greater than other pico projector engines in the market today and is always in focus without the need for focusing dials or optics – an especially desirable benefit for mobile consumers.

“We are very pleased to receive the first purchase order for our new display engine,” said Alexander Tokman, President and CEO of Microvision. “This embedded application in a high-end mobile media player is part of our strategy to develop multiple premium distribution channels as we continue to advance the PicoP engine design and mature production capacity to meet anticipated demand across a variety of consumer electronic products including handsets.”

About Microvision (www.microvision.com)

Microvision provides the PicoP display technology platform designed to enable next-generation display and imaging products for pico projectors, vehicles displays, and wearable displays that interface to mobile devices. The company’s projection display engine uses highly efficient laser light sources which can create vivid images with high contrast and brightness. For more information, visit the company’s website (www.microvision.com) and corporate blog (www.microvision.com/displayground).

Forward-Looking Statements Disclaimer

Certain statements contained in this release, including those relating to OEM new product introduction are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the Company’s forward-looking statements include the following: our ability to raise additional capital when needed; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; and potential product liability claims and other risk factors identified from time to time in the Company’s SEC reports, including the Company’s Annual Report on Form 10-K filed with the SEC. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.

Accelrys, Inc. (ACCL) and Symyx Technologies, Inc. (SMMX) Announce Merger

SAN DIEGO, CA and SANTA CLARA, CA — (Marketwire) — 04/05/10 — Accelrys, Inc. (NASDAQ: ACCL) and Symyx Technologies, Inc. (NASDAQ: SMMX) today announced that they have signed a merger agreement that will establish a new leader in scientific informatics software.

The merger, structured as a tax-free, all-stock merger of equals, was approved by both companies’ Boards of Directors. On a combined basis, Accelrys and Symyx have a pre-announcement market capitalization of approximately $335 million, cash reserves of approximately $150 million (net of transaction costs), and no debt. Under the terms of the agreement, Symyx shareholders will receive 0.7802 shares of Accelrys common stock for each share of Symyx. Following the completion of the merger, Accelrys and Symyx shareholders will each own approximately 50 percent of the combined company. After a period of initial integration, full year net cost synergy savings are expected to be in the range of $10 million – $15 million. Additionally, the transaction is expected to be materially accretive to Non GAAP Earnings per Share.

The merger is expected to be completed by the end of June 2010, subject to customary closing conditions, shareholder and regulatory approvals.

Max Carnecchia, chief executive officer of Accelrys, will serve as chief executive officer of the combined company. Isy Goldwasser, chief executive officer of Symyx Technologies, will serve a transitional role in the combined company. The company will be headquartered in San Diego, California.

“Scientific R&D organizations are challenged by the need to increase productivity and performance while grappling with budget pressures, restructuring, changes in scientific processes, and globally dispersed operations,” said Max Carnecchia, chief executive officer of Accelrys. “These forces are creating profound changes in the processes of scientific discovery and the way R&D teams interact. New software solutions are urgently required to address these fundamental changes, and the merger of Accelrys and Symyx creates a new, leading-force in the industry to address this situation.”

“The merger of Accelrys and Symyx creates a differentiated company that is uniquely qualified to advance the state of the scientific informatics software industry,” said Isy Goldwasser, chief executive officer of Symyx Technologies. “No other company combines our deep domain knowledge in chemistry, biology and materials science, enterprise software capabilities (in scientific data management, decision support and analytics), professional expert services, and a broad choice of partners. This powerful and synergistic combination with Accelrys allows us to meet the changing needs of our customers by delivering more agile, flexible and open scientific R&D environments through adaptive end-to-end workflow solutions.”

The combined company will have more than 1,350 customers, including 29 of the top 30 biopharmaceutical companies, all five top chemical companies, all five top aerospace companies, three of the five top consumer packaged goods companies, a number of top US Federal Government Agencies, as well as many top academic institutions.

About Accelrys, Inc.
Headquartered in San Diego, California, Accelrys develops scientific business intelligence software and solutions for the life sciences, energy, chemicals, aerospace, and consumer products industries. Customers include many Fortune 500 companies and other commercial entities, as well as academic and government entities. Accelrys has a vast portfolio of computer-aided design modeling and simulation offerings which assist customers in conducting scientific experiments ‘in silico’ in order to reduce the duration and cost of discovering and developing new drugs and materials. Its scientific business intelligence platform underlies the company’s computer-aided design modeling and simulation offerings. The Accelrys platform can be used with both Accelrys and competitive products, as well as with customers’ proprietary predictive science products. Its flexibility, ease-of-use and advanced chemical, text and image analysis and reporting capabilities enable customers to mine, aggregate, analyze and report scientific data from disparate sources, thereby better utilizing scientific data within their organizations. For more information about Accelrys, visit www.accelrys.com.

About Symyx Technologies, Inc.
Symyx Technologies, Inc. (NASDAQ: SMMX) helps R&D-based companies in life sciences, chemicals, energy, and consumer and industrial products achieve breakthroughs in innovation, productivity, and return on investment. Symyx software and scientific databases power laboratories with the information that generates insight, enhances collaboration and drives productivity. Products include a market-leading electronic laboratory notebook, decision support software, chemical informatics and sourcing databases. Information about Symyx, including reports and other information filed by Symyx with the Securities and Exchange Commission, is available at www.symyx.com.

Financial Advisors
Jefferies & Company, Inc., acted as financial advisors to Accelrys and UBS Investment Bank acted as financial advisors to Symyx.

Conference Call
Accelrys will conduct a conference call at 9.00am EDT on April 5, 2010 to discuss the merger. To participate, please dial (866) 393-7459 (or +1-706-643-4624 if outside the United States) and enter the access code 67120774, approximately 15 minutes before the scheduled start of the call. The conference call will also be accessible live on the Investor Relations section of the Accelrys website at www.accelrys.com.

A replay of the conference call will be available online in the Investor Relations section of the Accelrys website and via telephone by dialing (800) 642-1687 (+1-706-645-9291 outside the United States) and entering access code 67120774, beginning 12.00pm EDT from April 5, 2010 through 11.59pm EDT on May 5, 2010.

Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to a variety of matters, including but not limited to: the timing and anticipated completion of the proposed merger; the benefits and synergies expected to result from the proposed merger; the anticipated customer base for Accelrys and Symyx following the completion of the proposed merger; and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Accelrys and Symyx and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and neither Accelrys nor Symyx undertakes any obligation to update or revise these statements, whether as a result of new information, future events or otherwise.

Factors that could cause actual results to differ materially from the forward-looking statements contained herein include, but are not limited to: any operational or cultural difficulties associated with the integration of the businesses of Accelrys and Symyx; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed merger; unexpected costs, charges or expenses resulting from the proposed merger; litigation or adverse judgments relating to the proposed merger; risks relating to the consummation of the contemplated merger, including the risk that the required stockholder approval might not be obtained in timely manner or at all or that other closing conditions will not be satisfied; the failure to realize synergies and cost savings from the transaction or delay in realization thereof; any difficulties associated with requests or directions from governmental authorities resulting from their reviews of the transaction; and any changes in general economic and/or industry-specific conditions. Additional factors that could cause actual results to differ materially from those described in the forward-looking statements are set forth in the Annual Report on Form 10-K of Accelrys for the year ended March 31, 2009, which was filed with the SEC on May 26, 2009, under the heading “Item 1A — Risk Factors” and in the Annual Report on Form 10-K of Symyx for the year ended December 31, 2009, which was filed with the SEC on February 26, 2010, under the heading “Item 1A — Risk Factors,” and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by each of Accelrys and Symyx.

Accelrys and Symyx also noted that a preliminary, draft press release relating to their transaction was inadvertently disseminated on April 2, 2010. The companies retract the errant April 2 release, which was issued in error.

Important Merger Information and Additional Information and Where to Find It
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed merger, Accelrys and Symyx will file relevant materials with the SEC, including the filing by Accelrys of a Registration Statement on Form S-4 containing a joint proxy statement/prospectus. Investors are strongly urged to read the joint proxy statement/prospectus when it becomes available and other documents filed with the SEC by Accelrys and Symyx, because they will contain important information about Accelrys, Symyx and the proposed merger. The joint proxy statement/prospectus and other documents that will be filed by Accelrys and Symyx with the SEC will be available free of charge at the SEC’s website, www.sec.gov, by directing a request when such a filing is made to Accelrys, Inc., 10188 Telesis Court, San Diego, California 92121-1761, Attention: Corporate Secretary or by directing a request when such a filing is made to Symyx Technologies, Inc., 3100 Central Expressway, Santa Clara, California 95051, Attention: Corporate Secretary.

Accelrys, Symyx and their respective directors and certain of their executive officers may be considered participants in the solicitation of proxies in connection with the proposed merger. Information about the directors and executive officers of Accelrys is set forth in Accelrys’ most recent definitive proxy statement, which was filed with the SEC on July 21, 2009. Information about the directors and executive officers of Symyx is set forth in Symyx’s most recent definitive proxy statement, which was filed with the SEC on April 29, 2009. Certain directors and executive officers of Accelrys and Symyx may have direct or indirect interests in the proposed merger due to securities holdings, pre-existing or future indemnification arrangements, vesting of options or rights to severance payments if their employment is terminated following the proposed merger. Investors may obtain additional information regarding the interests of such participants by reading the joint proxy statement/prospectus Accelrys and Symyx will file with the SEC when it becomes available.

Keryx (KERX) Receives FDA Fast Track Designation for KRX-0401 (Perifosine)

NEW YORK, April 5 /PRNewswire-FirstCall/ — Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for KRX-0401 (perifosine), the Company’s novel, potentially first-in-class, oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K) pathway, for the treatment of refractory advanced colorectal cancer.

The Fast Track program of the FDA is designed to facilitate the development and expedite the review of new drugs that are intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs. Fast Track designated drugs ordinarily qualify for priority review, thereby expediting the FDA review process.

A randomized, double-blind Phase 3 trial investigating perifosine in combination with capecitabine (Xeloda®) versus placebo in combination with capecitabine in patients with refractory advanced colorectal cancer is expected to commence in the second quarter of 2010 under a Special Protocol Assessment (SPA) with the FDA.

Ron Bentsur, Chief Executive Officer of Keryx Biopharmaceuticals, commented, “We believe that this Fast Track designation adds substantial value to perifosine’s development in refractory advanced colorectal cancer.  We intend to initiate the Phase 3 colorectal study in the second quarter, with study completion expected in the second half of 2011.  With the SPA and Fast Track designation in place, we believe that commercialization of perifosine in this indication could potentially commence by mid-2012.”

In addition to colorectal cancer, perifosine is currently in a Phase 3 trial, under SPA, for the treatment of relapsed/refractory multiple myeloma, with Orphan Drug Status and Fast Track designation granted.

KRX-0401 (perifosine) is in-licensed by Keryx from Aeterna Zentaris, Inc. (Nasdaq: AEZS; TSX: AEZ) in the United States, Canada and Mexico.

About KRX-0401 (perifosine)

KRX-0401 (perifosine) is a novel, potentially first-in-class, oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K) pathway, and also affects a number of other key signal transduction pathways, including the JNK pathway, all of which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. The effects of KRX-0401 on Akt are of particular interest because of the importance of this pathway in the development of most cancers, with evidence that it is often activated in tumors that are resistant to other forms of anticancer therapy, and the difficulty encountered thus far in the discovery of drugs that will inhibit this pathway without causing excessive toxicity. High levels of activated Akt (pAkt) are seen frequently in many types of cancer and have been correlated with poor prognosis. KRX-0401 has demonstrated both safety and clinical efficacy in several tumor types, both as a single agent and in combination with novel therapies.

About Colorectal Cancer

According to the American Cancer Society, colorectal cancer is the third most common form of cancer diagnosed in the United States. It is estimated that over 146,000 people were diagnosed with some form of colorectal cancer with over 49,000 patients dying from colorectal cancer in 2009. Surgery is often the main treatment for early stage colorectal cancer. When colorectal cancer metastasizes (spreads to other parts of the body such as the liver) chemotherapy is commonly used. Treatment of patients with recurrent or advanced colorectal cancer depends on the location of the disease. Chemotherapy regimens (i.e. FOLFOX or FOLFIRI either with or without bevacizumab) have been shown to increase survival rates in patients with metastatic/advanced colorectal cancer. Currently, there are seven approved drugs for patients with metastatic/advanced colorectal cancer: 5-fluorouracil (5-FU), capecitabine (Xeloda®), irinotecan (Camptosar®), oxaliplatin (Eloxatin®), bevacizumab (Avastin®), cetuximab (Erbitux®), and panitumumab (Vectibix®). Depending on the stage of the cancer, two or more of these types of treatment may be combined at the same time or used after one another. For example, FOLFOX combines 5-FU, leucovorin and oxaliplatin and FOLFIRI combines 5-FU, leucovorin and irinotecan. Bevacizumab, a VEGF monoclonal antibody, is commonly administered with chemotherapy. Typically, patients who fail 5-FU, oxaliplatin, irinotecan, and bevacizumab-containing therapies, and who have wild-type KRAS status receive EGFR monoclonal antibody therapy with either cetuximab or panitumumab. Once patients progress on these agents, there are no further standard treatment options.

About Keryx Biopharmaceuticals, Inc.

Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of life-threatening diseases, including cancer and renal disease. Keryx is developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K) pathway, and also affects a number of other key signal transduction pathways, including the JNK pathway, all of which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 has demonstrated both safety and clinical efficacy in several tumor types, both as a single agent and in combination with novel therapies. KRX-0401 is currently in a Phase 3 trial, under Special Protocol Assessment (SPA), in multiple myeloma, with a Phase 3 trial in refractory advanced colorectal cancer, under SPA, pending commencement, and in Phase 2 clinical development for several other tumor types. Keryx is also developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. The Phase 3 clinical program of Zerenex in the treatment for hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease is pending commencement under an SPA agreement with the FDA. Keryx is headquartered in New York City.

Cautionary Statement

Some of the statements included in this press release, particularly those anticipating future clinical trials and business prospects for KRX-0401 (perifosine), may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: our ability to successfully and cost-effectively complete clinical trials for KRX-0401; the risk that the data (both safety and efficacy) from the Phase 3 trials will not coincide with the data analyses from the Phase 1 and Phase 2 clinical trials previously reported by the Company; the risk that fast track designation and priority review may not result in earlier approval; and other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.keryx.com. The information found on our website is not incorporated by reference into this press release and is included for reference purposes only.

National Dentex (NADX) Enters into Merger Agreement with GeoDigm

Apr. 5, 2010 (Business Wire) — National Dentex Corporation (NASDAQ: NADX), one of the largest owner/operators of dental laboratories in North America, today announced that it has entered into a definitive agreement and plan of merger to be acquired by GDC Holdings, Inc. (GDC), which is a holding company of GeoDigm Corporation (GeoDigm), a technology based manufacturing and laboratory company and a portfolio company of Welsh, Carson, Anderson & Stowe XI, L.P. (Welsh Carson).

Under the terms of the merger agreement, National Dentex’s shareholders will receive $17.00 in cash for each share of National Dentex common stock they hold, representing a premium of approximately 70% over National Dentex’s most recent closing share price of $10.02 on April 1, 2010.

The board of directors of National Dentex has unanimously approved and adopted the merger agreement and resolved to recommend that National Dentex’s shareholders approve the merger agreement.

“This agreement provides an attractive all-cash valuation to our shareholders,” said David L. Brown, Chairman and Chief Executive Officer of National Dentex. “We continually monitor emerging dental technologies, and we view GeoDigm’s ICON® platform as having the most transformative effect on lab operations, product quality, and consistency. Additionally we see GeoDigm’s high quality lab network as a natural complement to ours. So in addition to delivering value to National Dentex’s shareholders, the combination of National Dentex and GeoDigm creates clear value for National Dentex’s dental clients,” said Mr. Brown.

“GeoDigm’s technology and lab operations have a proven track record of increasing prosthetic quality and consistency for dentists in the upper Midwest,” added Andrew Hofmeister Chief Executive Officer of GeoDigm. “National Dentex’s strong management team and broad laboratory network are vital to extending ICON^® technology’s benefits to dental clients everywhere. Welsh Carson’s financial sponsorship greatly increases the National Dentex – GeoDigm combination’s acquisition capacity. This capacity offers unaffiliated laboratory owners an opportunity to acquire fundamentally transformative technology through joining an industry leader,” said Mr. Hofmeister.

The transaction is subject to customary conditions to closing, including the approval of National Dentex’s shareholders and requisite regulatory approvals. The transaction is not subject to a financing condition. National Dentex expects the transaction to close at the end of the quarter ending June 30, 2010.

Under the terms of the merger agreement, National Dentex may solicit acquisition proposals from third parties until the end of the day on May 12, 2010. There can be no assurance that an alternative transaction proposal will emerge. For further information regarding all items and conditions contained in the definitive merger agreement, please see our Current Report on Form 8-K, which will be filed in connection with this transaction.

BB&T Capital Markets serves as financial advisor to National Dentex and Signal Hill Capital Group LLC provided a fairness opinion to the Company’s Board of Directors. Posternak Blankstein & Lund LLP is serving as legal counsel to National Dentex. GDC and Welsh Carson’s legal counsel is Ropes & Gray LLP.

About National Dentex

National Dentex Corporation serves an active customer base of over 24,000 dentists through 44 dental laboratories located in 30 states and one Canadian province. National Dentex’s dental laboratories provide a full range of custom-made dental prosthetic appliances, including dentures, crowns, and fixed bridges, and other dental specialties.

About GDC Holding Company and GeoDigm

GeoDigm, based in Minneapolis, MN, is a leading innovator in dental and orthodontic imaging and manufacturing technology. The company deploys its proprietary, digitally-enabled production system exclusively through GeoDigm Laboratories, delivering improved products and services to its client base of over five thousand dentists and orthodontists.

About Welsh, Carson, Anderson & Stowe

Welsh, Carson, Anderson & Stowe is one of the largest and most successful private equity firms focused in two industry sectors: information/business services and healthcare. Founded in 1979, Welsh, Carson has organized 15 limited partnerships with total capital of over $20bn. The firm is currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P. and its current portfolio consists of 31 companies with combined revenues of approximately $27bn and EBITDA of $4bn.

About BBT Capital Markets

BB&T Capital Markets (www.bbtcapitalmarkets.com) offers an integrated platform of M&A advisory, public and private debt and equity services and corporate banking to corporations, governments, and nonprofit organizations. Its industry teams consist of Commercial & Industrial, Consumer, Defense & Government Services, Financial Services, Healthcare, and Logistics & Transportation Services. BB&T Capital Markets is a division of Scott & Stringfellow, LLC, member NYSE/SIPC. Scott & Stringfellow is a separate, non-bank subsidiary of BB&T Corporation (NYSE: BBT), one of the nation’s largest financial holding companies with more than $165 billion in assets.

Additional Information and Where You Can Find It

In connection with the proposed transaction, National Dentex will file a proxy statement and relevant documents concerning the proposed transaction with the SEC. Investors and security holders of National Dentex are urged to read the proxy statement and any other relevant documents filed with the SEC when they become available because they will contain important information about National Dentex and the proposed transaction. The proxy statement (when it becomes available) and any other documents filed by National Dentex with the SEC may be obtained free of charge at the SEC’s web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by National Dentex by contacting National Dentex Investor Relations at dbecker@nationaldentex.com or via telephone at 508-907-7800. Investors and security holders are urged to read the proxy statement and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction.

National Dentex and its directors and certain executive officers may, under SEC rules, be deemed to be participants in the solicitation of proxies from National Dentex’s shareholders in connection with the transaction. Information regarding the directors and executive officers and their respective interests in National Dentex by security holdings or otherwise is included in National Dentex’s proxy statements and Annual Reports on Form 10-K, previously filed with the SEC, and information concerning all of National Dentex’s participants in the solicitation will be included in the proxy statement relating to the proposed transaction when it becomes available. Each of these documents is, or will be, available free of charge at the SEC’s web site at http://www.sec.gov. In addition, shareholders may obtain free copies of the documents filed or to be filed with the SEC by National Dentex by contacting National Dentex at dbecker@nationaldentex.com or by phone at 508-907-7800.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this document include statements about the proposed transaction, future performance and completion of the transaction. These statements are based on management’s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. For example, conditions to the closing may not be satisfied and the transaction may involve unexpected costs, liabilities or delays, any of which could cause the transaction not to be consummated. Additional factors that may affect the future results of National Dentex are as set forth in its filings with the SEC, which are available at www.sec.gov. All forward-looking statements in this release are qualified by these cautionary statements and are made only as of the date of this release. National Dentex is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.

Air Transport Services Group, Inc. (ATSG) Hires Chief Commercial Officer

Apr. 1, 2010 (Business Wire) — Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced the appointment of industry veteran Rich Corrado,50, to the positions of Chief Commercial Officer of ATSG, and President of Cargo Aircraft Management, Inc. (CAM), ATSG’s aircraft leasing and global aviation solution company.

Corrado, 50, will be responsible for the sales and marketing strategy and execution for the ATSG family of companies, as well as full P&L responsibility for CAM. He will report to ATSG President & CEO Joe Hete.

“Rich’s knowledge of business development, sales management, and strategic planning–paired with his specific industry experience–will be a great asset for us,” said Hete. “ATSG companies provide a wide range of aircraft and transportation service options, and Rich will help our customers get maximum advantage from these integrated services, in order to realize improved efficiencies and lowered costs.”

Corrado comes to ATSG from recent roles as Chief Operating Officer of AFMS Logistics Management, and President of Transform Consulting Group. He also held key senior marketing leadership positions in the parcel air express industry, serving as Executive Vice President of Air Services for DHL Express, and Senior Vice President of Marketing for Airborne Express. He holds a BA degree in Economics from Harvard University, and an MBA from Boston College.

“I am excited to be back with the ATSG family and am looking forward to driving sales and marketing programs that harness the value of the combined enterprise into a unique value proposition that integrates the strength of our aircraft assets, with the bundle of additional services that we can deliver for our customers,” said Corrado. “Our flexible, turnkey solutions will allow us to offer unmatched programs for our customers’ short and long-term aviation needs.”

About ATSG

ATSG is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier Certificates, ATSG provides air cargo lift, aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG’s subsidiaries include ABX Air, Inc.; Air Transport International, LLC; Capital Cargo International Airlines, Inc.; Cargo Aircraft Management, Inc.; LGSTX Services, Inc.; and Airborne Maintenance and Engineering Services, Inc. For more information, please see www.atsginc.com.

LGL (LIHR) Appoints New CEO

BRISBANE, AUSTRALIA — (Marketwire) — 03/31/10 — Leading gold miner Lihir Gold Ltd (LGL) (TSX: LGG)(ASX: LGL)(NASDAQ: LIHR) has appointed former BHP senior executive Graeme Hunt as Managing Director and Chief Executive Officer.

LGL Chairman Ross Garnaut said Mr Hunt was the ideal candidate for the CEO role, possessing strong leadership skills, wide mining industry knowledge and extensive experience in strategic development.

A metallurgist by training, Mr Hunt, 53, previously spent 34 years with BHP Billiton. Starting as a metallurgical trainee in 1975 at the Port Kembla Steelworks, he advanced his career through a variety of roles, eventually becoming President of the global Iron Ore division from 1999 to 2006, and then President of the global Aluminium division in 2006 and 2007. His final role at BHP was as President of Uranium, including responsibility for the Olympic Dam Expansion. He left BHP in March last year.

As President of Iron Ore, Graeme presided over a major programme of building and utilizing strategic options for increasing value through expanding production from a huge resource, which continues today.

Mr Hunt will relocate to Brisbane from Melbourne, and will take up his position immediately.

“We are delighted to have an executive of Graeme’s calibre in place to lead LGL to the next stage of its development,” said Dr Garnaut.

“LGL is well placed to deliver increasing returns to shareholders in the next few years, with major growth projects well advanced in Papua New Guinea and in West Africa.

“Graeme possesses all of the qualities and experience the Board was looking for to ensure that the company delivers on its commitments and builds on its strong asset base to create value for shareholders.”

Mr Hunt said he was looking forward to the opportunity to lead LGL into the next stage of its growth strategy.

“LGL has great assets in three countries, a talented management team in place, and significant untapped potential,” Mr Hunt said.

“I believe the company has an exciting future ahead of it and I am delighted to be a part of that growth and development,” he said.

Dr Garnaut also paid tribute to LGL’s Chief Financial Officer, Phil Baker, who stepped into the CEO role on a temporary basis in January.

“Phil has done an excellent job in the interim, and was seen in the market as an outstanding leader of the company. We are very fortunate to have him on the senior executive team, and we look forward to his continued contribution,” he said.

Mr Hunt’s contract is available on the company’s web site, at www.lglgold.com, along with a detailed career history.

AZZ incorporated (AZZ) Signs Agreement to Acquire North American Galvanizing & Coatings (NGA)

FORT WORTH, Texas, April 1 /PRNewswire-FirstCall/ — AZZ incorporated (NYSE: AZZ), a manufacturer of electrical products and a provider of galvanizing services, has entered into a definitive merger agreement with North American Galvanizing & Coatings, Inc. (“NGA”) (Nasdaq: NGA) to acquire NGA through a cash tender offer, followed by a merger with a subsidiary of AZZ, for a price of $7.50 per share in cash. The acquisition will be funded from AZZ’s cash on hand and its existing credit facility. The tender offer is scheduled to commence within five business days of April 30, 2010, and to expire on the 20th business day from and including the commencement date unless extended in accordance with the terms of the merger agreement and applicable law. The $7.50 per share price represents a premium of approximately 42.6% over the weighted average price of NGA’s common shares for the last 30 trading days. The transaction is valued at approximately $125.6 million. AZZ and NGA anticipate the transaction can close by the end of AZZ’s second fiscal quarter.

NGA’s Board of Directors has unanimously approved the merger agreement and the transactions contemplated by the merger agreement, and has resolved to recommend that NGA’s stockholders tender their shares in connection with the tender offer. The closing of the tender offer is subject to the tender of at least two thirds (2/3) of NGA’s outstanding shares and other customary conditions.

The merger agreement contains a “go-shop” provision whereby NGA’s Board of Directors, with the assistance of its financial advisor, has the right to solicit acquisition proposals from third parties until April 30, 2010. There can be no assurance that the solicitation of proposals will result in an alternative transaction. NGA does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors decides to accept an alternative proposal. Within 5 business days after the end of the go-shop period, AZZ will commence the tender offer referred to above.

“This not only represents a multiple facility addition to our network of plants and expansion of our geographic coverage, but significantly strengthens our marketing and customers service opportunities. It is indeed a privilege to acquire operations that have a rich heritage and that have enjoyed growth and expansion. The combined efforts of the dedicated employees of both organizations, expanded facility locations, and loyal customers should enhance our ability to capitalize on the anticipated market recoveries in our served markets. We believe this transaction is good for our industry, our customers, our employees and our shareholders,” stated David H. Dingus, president and chief executive officer of AZZ incorporated.

Important Information About the Tender Offer

This announcement and the description contained herein are for informational purposes only and are not an offer to purchase or a solicitation of an offer to sell securities of NGA. The tender offer described herein has not yet been commenced. At the time the tender offer is commenced, AZZ intends to file a tender offer statement on a Schedule TO containing an offer to purchase, a letter of transmittal and other related documents with the Securities and Exchange Commission (the “SEC”). At the time the tender offer is commenced, NGA intends to file with the SEC a solicitation/recommendation statement on Schedule 14D-9 and, if required, will file a proxy statement or information statement with the SEC at a later date. Such documents will be mailed to stockholders of record and will also be made available for distribution to beneficial owners of common stock of NGA. The solicitation of offers to buy common stock of NGA will only be made pursuant to the offer to purchase, the letter of transmittal and related documents. Stockholders are advised to read the offer to purchase and the letter of transmittal, the solicitation/recommendation statement, the proxy statement, the information statement and all related documents, if and when such documents are filed and become available, as they will contain important information about the tender offer and proposed merger. Stockholders can obtain these documents when they are filed and become available free of charge from the SEC’s website at www.sec.gov, or from the information agent that AZZ selects. In addition, copies of the solicitation/recommendation statement, the proxy statement and other filings containing information about NGA, the tender offer and the merger may be obtained, if and when available, without charge, by directing a request to North American Galvanizing & Coatings, Inc. Attention: Beth Pulley at 5314 S. Yale Street, Suite 1000, Tulsa, Oklahoma 74135, or on NGA’s corporate website at www.nagalv.com.

About North American Galvanizing & Coatings, Inc. (NASDAQ: NGA)

North American Galvanizing & Coatings, Inc. is a leading provider of corrosion protection for iron and steel components fabricated by its customers. NGA has a large number of hot dip galvanizing facilities in the United States. NGA’s galvanizing plants offer a broad line of services including centrifuge galvanizing for small threaded products, sandblasting, chromate quenching, polymeric coatings, and proprietary INFRASHIELD Coating Application Systems for polyurethane protective linings and coatings over galvanized surfaces. NGA’s mechanical and chemical engineers provide customized assistance with initial fabrication design, project estimates and steel chemistry selection. NGA’s galvanizing and coating operations are composed of eleven facilities located in Colorado, Kentucky, Missouri, Ohio, Oklahoma, Tennessee, Texas and West Virginia. The West Virginia facility began operating in the second quarter of 2009. These facilities operate galvanizing kettles ranging in length from 16 feet to 62 feet and have lifting capacities ranging from 12,000 pounds to 40,000 pounds. For more information about NGA, visit www.nagalv.com.

About AZZ incorporated (NYSE: AZZ)

AZZ incorporated is a specialty electrical equipment manufacturer serving the global markets of industrial, power generation, transmission and distributions, as well as a leading provider of hot dip galvanizing services to the steel fabrication market nationwide.

Safe Harbor Statement

Certain statements contained in this press release about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as, “may,” “should,” “expects, ” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial and economic data and management’s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. In addition, certain factors could affect the outcome of the matters described in this press release. These factors include, but are not limited to, (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, (2) the outcome of any legal proceedings that may be instituted against us or others following the announcement of the merger agreement, (3) the inability to complete the tender offer or the merger due to the failure to satisfy other conditions, (4) risks that the proposed transaction disrupts current plans and operations, and (5) the costs, fees and expenses related to the transaction. In addition, this release may contain forward-looking statements that involve risks and uncertainties including, but are not limited to, changes in customer demand and response to products and services offered by AZZ or NGA, including demand by the electrical power generation markets, electrical transmission and distribution markets, the industrial markets, and the hot dip galvanizing markets; prices and raw material cost, including zinc and natural gas which are used in the hot dip galvanizing process; changes in the economic conditions of the various markets that AZZ or NGA serve, foreign and domestic, customer request delays of shipments, acquisition opportunities, adequacy of financing, and availability of experienced management employees to implement AZZ’s growth strategy. AZZ has provided additional information regarding risks associated with the business in the AZZ’s Annual Report on Form 10-K for the fiscal year ended February 28, 2009 and other filings with the SEC, available for viewing on AZZ’s website at www.azz.com and on the SEC’s website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date of this press release and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Gentium (GENT) Announces Fourth Quarter and Year End 2009 Results

VILLA GUARDIA (COMO), Italy, March 31 /PRNewswire-FirstCall/ — Gentium S.p.A. (Nasdaq: GENT) today reported financial results for the quarter and year ended December 31, 2009.  The Company reports its financial condition and operating results using U.S. Generally Accepted Accounting Principles (GAAP). The Company’s financial statements are prepared using the Euro as its functional currency. On December 31, 2009, EUR 1.00 = $1.4332.

“Total product sales rose 78 percent in 2009 resulting from the successful implementation of the named-patient program in Europe and cost recovery program in the U.S.,” stated Gary Gemignani, Executive Vice President and Chief Financial Officer of Gentium S.p.A.  “For the fourth quarter 2009, we reported positive operating cash flow.  We expect revenues in 2010 to be in the range of $20 – $25 million and cash flow to be positive in 2010.”

“We are pleased that Defibrotide was selected as one of the highlights at the American Society of Hematology (ASH) conference and more recently at European Bone Marrow Transplant (EBMT) conference,” stated Dr. Khalid Islam, Chief Executive Officer of Gentium S.p.A. “We are currently completing certain preclinical and clinical studies requested by regulatory authorities and we anticipate filing for regulatory approval in the U.S. and Europe by the end of second quarter 2011. With the $7 million upfront payment in connection with our recent expansion of the license and cost sharing agreements with Sigma-Tau and substantial revenues being generated by the named-patient program, we have significantly strengthened our balance sheet.”

Financial Highlights

For the fourth quarter ended December 31, 2009 compared to the prior year’s fourth quarter:

• Total revenues were EUR 4.05 million, compared with EUR 1.04 million
• Operating costs and expenses were EUR 4.08 million, compared with EUR 4.88 million
• Research and development expenses, which are included in operating costs and expenses, were EUR 0.86 million, compared with EUR 1.70 million
• Operating loss was EUR 0.04 million, compared with EUR 3.84 million
• Interest income/(expense), net, was EUR (0.01) million, compared with EUR 0.08 million.
• Pre-tax loss was EUR 0.05 million, compared with EUR 3.45 million
• Net loss was EUR 0.05 million, compared with EUR 3.45 million
• Basic and diluted net loss per share was EUR 0.003, compared with EUR 0.23 per share

For the year ended December 31, 2009 compared with the prior year:

• Total revenues were EUR 10.17 million, compared with EUR 7.44 million
• Operating costs and expenses were EUR 14.75 million, compared with EUR 27.77 million, which included a write-down of assets of EUR 3.40 million
• Research and development expenses, which are included in operating costs and expenses, were EUR 3.51 million, compared with EUR 9.57 million
• Operating loss was EUR 4.58 million, compared with EUR 20.33 million, which included a write-down of EUR 3.4 million in assets
• Interest income/(expense), net, was EUR (0.11) million, compared with EUR 0.25 million
• Net loss was EUR 4.53 million, compared with EUR 19.90 million, which included a write-down of EUR 3.4 million in assets
• Basic and diluted net loss per share was EUR 0.30 compared with EUR 1.33 per share
• Cash used in operating activities was EUR 5.16 million, compared with EUR 12.78 million
• Cash and cash equivalents amounted to EUR 1.39 million as of December 31, 2009

Recent Company Highlights

Gentium announced that it amended its existing License and Supply and Cost Sharing Agreements with Sigma-Tau Pharmaceuticals, Inc., to include a license for the prevention indication of Defibrotide in the Americas.  Gentium will continue to own exclusive rights to Defibrotide in Europe and the rest of the world.

In March 2010, Gentium announced management and corporate restructuring changes resulting from a strategic decision to consolidate the Company’s resources and operations within Italy.  Mr. Gary Gemignani, Executive Vice-President and Chief Financial Officer is leaving the Company, effective today, but will provide transitional services through a consulting agreement.

The Company presented an abstract containing the final results for the Phase II/III pediatric prevention trial of Defibrotide for the prevention of VOD at the annual meetings of ASH and EBMT. In the intent to treat analysis Defibrotide demonstrated a 40% reduction in the incidence of VOD within 30 days after SCT, the primary endpoint of the study. In addition, a pre-specified analysis showed that the incidence and severity of acute graft versus host disease by day 100 in allogeneic SCT recipients was significantly reduced from 63% for the control arm to 45% for the prophylaxis arm.

Operating Results

Product sales were EUR 9.70 million for 2009 compared to EUR 5.44 million for 2008, an increase of EUR 4.26 million or 78%. The increase was primarily due to the launch in April 2009 of the named-patient program and the launch in September 2009 of the cost recovery program in the U.S.  Named-patient program and cost recovery program sales, net, for the year ended December 31, 2009 amounted to EUR 4.90 million, which are net of EUR 0.79 million of service fees.

The active pharmaceutical ingredient, or API, revenues slightly decreased from EUR 4.79 million in 2008 to EUR 4.6 million, reflecting the decrease in volume of suglicotide offset by a price increase and higher sales volume of urokinase.

Sales to a related party, Sirton, for the year ended December 31, 2009 and 2008 represented 2% and 12% of the total product sales, respectively. The decrease in sales to a related party was primarily due to the fact that in the second quarter of 2009 the Company terminated the supply agreement with Sirton and entered into direct sales agreements with Sirton’s customers in order to mitigate the risk associated with Sirton’s poor financial condition and terminated the supply agreement with Sirton.

Other revenues were EUR 0.47 million for 2009 compared to EUR 1.99 million for 2008. The decrease versus the prior year is primarily attributable to a decrease in activities that were reimbursed from Sigma Tau under our cost sharing agreement, offset by a milestone payment from Sigma-Tau of $0.35 million for completion of the phase III clinical trial.

Cost of goods sold was EUR 4.0 million for 2009 compared to EUR 5.60 million in 2008. Cost of goods sold as a percentage of product sales, net, was 41% in 2009 compared to 103% in 2008. The percentage decrease is primarily due to higher margins on Defibrotide sold through the named-patient program and price increases in the API business. The Company fully expensed the cost of inventory in the prior year.  Additionally, the higher percentage of cost of goods sold in 2008 was primarily due to the fact that product sales to a related party, Sirton, were not recognized in the amount of EUR 1.08 million due to Sirton’s poor financial condition and concerns over the ability to collect such receivables.

The Company incurred research and development expenses of EUR 3.51 million in 2009 compared to EUR 9.57 million for 2008. Research and development expenses in 2009 and 2008 are net of EUR 0.85 and EUR 0.79 million, respectively, of government grants in the form of a tax credit. The decrease from the prior year is mainly due to completion of clinical trials.

General and administrative expenses were EUR 6.04 million in 2009 compared to EUR 7.67 million in 2008. In 2008, we established a reserve for doubtful in accounts in the amount of EUR 1.78 million, of which EUR 0.68 was released in 2009.  Additionally, the Company had lower payroll costs due to the temporary layoffs under a special public fund used in Italy under the “Cassa Integrazione Guadagni” program and decrease in stock based compensation expenses.

In 2008, the Company recorded an impairment of EUR 3.40 million. Write-down of assets include the write-down of acquired trademarks, marketing authorizations, inventory, and the Company’s patents.  The trademarks and marketing authorizations have been written-down due to the expiration and non-renewal by the Company of the distribution agreement with Crinos S.p.A., which raised concern about the ability to recover the cost of these assets.

Interest income/(expense), net amounted to EUR (0.11) million and EUR 0.26 million in 2009 and 2008, respectively. The decrease in interest income/(expense), net is a result of a lower amounts of invested funds in 2009 compared to the prior period as well as a decrease in interest rates.

Net loss was EUR 4.53 million in 2009 compared to EUR 19.90 million in 2008. The difference was primarily due to increased net sales and higher margins associated with the named-patient and cost recovery programs and a decrease in development activities related to the treatment and prevention studies.

The Company ended the fourth quarter of 2009 with EUR 1.39 million in cash and cash equivalents, compared with cash and cash equivalents of EUR 11.49 million as of December 31, 2008. Absent the need to fund any additional clinical trials, management believes that the Company’s cash and cash equivalents, including the upfront payment received from Sigma-Tau Pharmaceuticals, Inc. in connection with the expansion of the license agreement for Defibrotide in the Americas, together with revenues generated from its named-patient and cost recovery programs, will be sufficient to meet the Company’s obligations for at least the next twelve months.

About VOD

Veno-occlusive disease is a potentially life-threatening condition, which typically occurs as an important complication of stem cell transplantation. Certain high-dose conditioning regimens used as part of SCT can damage the lining cells of hepatic blood vessels and so result in VOD, a blockage of the small veins of the liver that leads to liver failure and can result in significant dysfunction in other organs such as the kidneys and lungs (so-called severe VOD). SCT is a frequently used treatment modality following high-dose chemotherapy and radiation therapy for hematologic cancers and other conditions in both adults and children. There is currently no approved agent for the treatment or prevention of VOD in the US or the EU.

About Gentium

Gentium S.p.A., located in Como, Italy, is a biopharmaceutical company focused on the development and manufacture of drugs to treat and prevent a variety of diseases and conditions, including vascular diseases related to cancer and cancer treatments. Defibrotide, the Company’s lead product candidate, is an investigational drug that has been granted Orphan Drug status by the U.S. FDA and Orphan Medicinal Product Designation by the European Commission both to treat and to prevent VOD and Fast Track Designation by the U.S. FDA to treat VOD.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements.” In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” the negative of these terms and other comparable terminology. These statements are not historical facts but instead represent the Company’s belief regarding future results, many of which, by their nature, are inherently uncertain and outside the Company’s control. It is possible that actual results, including with respect to the possibility of any future regulatory approval, may differ materially from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in our Form 20-F filed with the Securities and Exchange Commission under the caption “Risk Factors.”

    GENTIUM S.p.A.
    Balance Sheets
    (in thousands, except share data)
                                                     As of December 31,
                                                  2008              2009
    ASSETS
    Cash and cash equivalents              EUR  11,491     EUR     1,392
    Accounts receivable                            625             3,213
    Accounts receivable from related
     parties, net                                  816               501
    Inventories, net                               907             1,551
    Prepaid expenses and other current
     assets                                      1,682             1,431
                                                 -----             -----
    Total Current Assets                        15,521             8,088

    Property, manufacturing facility and
     equipment, at cost                         21,019            21,262
    Less: Accumulated depreciation              10,268            11,545
                                                ------            ------
    Property, manufacturing facility and
     equipment, net                             10,751             9,717

    Intangible assets, net of amortization          95                76
    Available for sale securities                  510               263
    Other non-current assets                        24                23
    Total Assets                           EUR  26,901     EUR    18,167
                                                ======            ======

    LIABILITIES AND SHAREHOLDERS' EQUITY
    Accounts payable                       EUR   5,823     EUR     4,379
    Accounts payable to Crinos                   4,000                 -
    Accounts payables to related parties           325               286
    Accrued expenses and other current
     liabilities                                   810             1,907
    Current portion of capital lease
     obligations                                    65                67
    Current maturities of long-term debt         1,346               408
                                                 =====               ===
    Total Current Liabilities                   12,369             7,047

    Long-term debt, net of current
     maturities                                  3,268             3,098
    Capital lease obligation                       158                91
    Termination indemnities                        655               601
                                                   ===               ===
    Total Liabilities                           16,450            10,837

    Share capital (EUR 1.00 and no par
     value as of December 31, 2008 and
     2009, respectively; 18,454,292 and
     18,302,617 shares authorized as of
     December 31, 2008 and 2009,
     respectively; 14,956,317 shares
     issued and outstanding at December
     31, 2008 and 2009)                         14,956           106,962
    Additional paid in capital                  90,619                 -
    Accumulated other comprehensive loss           (17)                -
    Accumulated deficit                        (95,107)          (99,632)
    Total Shareholders' Equity                  10,451             7,330
                                                ------             -----
    Total Liabilities and Shareholders'
     Equity                                EUR  26,901     EUR    18,167
                                                ======            ======

    GENTIUM S.p.A.
    Statements of Operations
    (Unaudited, in thousands, except per share data)

                    For the Three Months Ended           For the Year Ended
                            December 31,                     December 31,
                         2008           2009            2008             2009
    Revenues:
    Product sales
     to related
     party            EUR  96         EUR  -        EUR  651         EUR  195
    Product sales
     to third
     parties              944          3,714           4,792            9,507
                          ---          -----           -----            -----
    Total product
     sales              1,040          3,714           5,443            9,702
    Other revenues          -             61              25              129
    Other revenues
     from related
     party                  -            274           1,970              337
                          ---            ---           -----              ---
    Total Revenues      1,040          4,049           7,438           10,168

    Operating costs
     and expenses:
    Cost of goods sold  1,279            872           5,596            4,002
    Research and
     development        1,696            855           9,569            3,512
    General and
     administrative     1,308          2,078           7,668            6,036
    Depreciation and
     amortization         153            210             998              916
    Charges from
     related parties       93             69             537              279
    Write-down of
     acquired assets      351              -           3,403                -
                          ---            ---           -----              ---
                        4,880          4,084          27,771           14,745
    Operating loss     (3,840)           (35)        (20,333)          (4,577)
                       ------            ---         -------           ------

    Foreign currency
     exchange gain
     (loss), net          310             (1)            173              162
    Interest income
     (expense), net        83            (12)            256             (110)

    Loss before
     income tax
     expenses          (3,447)           (48)        (19,904)          (4,525)

    Income tax
     expense                -              -               -                -
    Net loss      EUR  (3,447)      EUR  (48)    EUR (19,904)      EUR (4,525)

    Shares used
     in computing
     net loss per
     share, basic
     and diluted   14,956,317 EUR 14,956,317  EUR 14,956,263   EUR 14,956,317

    Net loss per
     share:
     Basic and
     diluted net
     loss per
     share         EUR  (0.23) EUR    (0.003) EUR      (1.33) EUR       (0.30)

    GENTIUM S.p.A.
    Statements of Cash Flows
    (in thousands)
                       For the Three Months Ended        For the Year Ended
                               December 31,                 December 31,
                           2008           2009           2008          2009
    Cash Flows From
     Operating
     Activities:
    Net loss         EUR (3,447)       EUR (48)   EUR (19,904)   EUR (4,525)
    Adjustments
     to reconcile
     net income
     to net cash
     provided by
     (used in)
     operating
     activities:
    Write-down of
     intangible
     assets                (396)             -          2,175             -
    Write-down of
     inventory            1,228             19          1,228            19
    Unrealized
     foreign
     exchange
     loss/(gain)            (11)            25           (337)         (223)
    Depreciation
     and
     amortization           335            330          1,699         1,300
    Stock based
     compensation           379            329          1,973         1,386
    Loss on fixed
     asset disposal           -              2              7             2
    Allowance/
     (release) for
     doubtful accounts       16           (271)         1,783          (684)
    Loss on
     marketable
     securities               -              2              -             2
    Changes in
     operating
     assets and
     liabilities:
    Accounts
     receivable            (363)        (1,009)        (1,001)       (2,603)
    Inventories            (105)          (651)          (625)         (663)
    Prepaid
     expenses and
     other current
     and noncurrent
     assets                 960            507            568           524
    Accounts payable
     and accrued
     expenses               216          1,416           (310)          363
    Termination
     indemnities             (3)             -            (31)          (54)
    Net cash
     provided by
     (used in)
     operating
     activities          (1,191)           651        (12,775)       (5,156)
                         ------            ---        -------        ------

    Cash Flows
     From Investing
     Activities
    Capital
     expenditures            (5)             -           (437)         (245)
    Intangible
     assets
     expenditures             -              -           (154)           (3)
    Sales of
     marketable
     securities               -            262              -           262
    Acquisition of
     Crinos Assets            -              -              -        (4,000)
    Net cash
     provided by
     (used in)
     investing
     activities              (5)           262           (591)       (3,986)
                             ---           ---            ----        ------

    Cash Flows
     From Financing
     Activities:
    Proceeds from
     long-term debt         147             -               -             -
    Proceeds from
     warrant and
     stock option
     exercises, net           -             -              38             -
    Repayment of long-
     term debt             (485)         (205)         (1,216)       (1,108)
    Repayment of
     short term
     borrowings               -             -            (279)            -
    Principal payment
     of capital lease
     obligation             (21)          (17)           (107)          (65)
    Proceeds from
     long term debt           -             -             147             -
    Net cash used in
     financing
     activities            (359)         (222)         (1,417)       (1,173)
                           ----          ----          ------        ------

    Increase/
     (Decrease)
     in cash and
     cash equivalents    (1,555)          691          (14,783)     (10,315)
    Effect of exchange
     rate on cash and
     cash equivalents       (53)           (3)             310          216
    Cash and cash
     equivalents,
     beginning of
     period              13,099           704           25,964       11,491
    Cash and cash
     equivalents,
     end of
     period          EUR 11,491     EUR 1,392       EUR 11,491    EUR 1,392
                         ------         -----           ------        -----

FieldPoint Petroleum Corp. (FPP) Announces Stock Buy-Back

AUSTIN, Texas–(BUSINESS WIRE)–FieldPoint Petroleum Corporation (AMEX:FPP – News) announced that on March 26, 2010, its Board of Directors authorized the Company to repurchase shares of its Common Stock at an aggregate cost not to exceed $250,000. Stock purchases may be made in open market or privately-negotiated transactions, if and when management determines to effect purchases. Repurchases shall occur subject to prevailing market conditions and will be funded from available cash. Repurchases will also be subject to compliance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

About FieldPoint Petroleum Corp. www.fppcorp.com

FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming.

This press release may contain projection and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Any such projections or statement reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and gas prices and unexpected decreases in oil and gas production is included in the company’s periodic reports filed with the Securities and Exchange Commission (at www.sec.gov).

Omeros (OMER) Reports Phase 2 Data Showing Multiple Clinical Benefits

SEATTLE, March 31 /PRNewswire-FirstCall/ — Omeros Corporation (Nasdaq: OMER) today announced that a Phase 2 clinical trial of OMS103HP, its PharmacoSurgery™ product candidate for arthroscopy, demonstrated that patients treated with OMS103HP during arthroscopic knee meniscectomy surgery achieved statistically significant clinical benefits.  OMS103HP is an investigational drug product that is added to arthroscopic irrigation solution and is designed to improve postoperative joint function and motion and reduce postoperative pain.

The Phase 2 clinical trial was a multicenter, randomized, double-blind, vehicle-controlled study. Of the 161 patients who were enrolled and treated, 143 patients met the predetermined surgical criteria and were included in the data analysis (71 OMS103HP and 72 vehicle). There were no important differences in demographic characteristics between the two treatment groups.

This study has shown that OMS103HP provides greater efficacy than vehicle as measured by visual analog scale (VAS) pain scores, passive knee flexion and patient reported functional scores using the Knee Injury and Osteoarthritis Outcome Score (KOOS).  The patient reported outcomes showed a sustained benefit through postoperative Day 90. OMS103HP was well tolerated, and adverse events were more frequent in the vehicle dose group.

Pain scores in the immediate 24-hour period and up to seven days postoperatively were measured using a validated, 100-point, VAS. Range of motion assessments were made at baseline and day seven postoperatively. The protocol was amended to collect patient self reports using the KOOS, which consists of five subscale scores: symptoms, pain, activities of daily living, sport and recreation function, and knee-based quality of life. The KOOS subset consisted of 67 subjects (33 OMS103HP and 34 vehicle).

“We are pleased with the clinical results of this Phase 2 trial, which show that OMS103HP significantly improved patients’ functional scores, increased their knee flexion and decreased their pain after arthroscopy,” stated Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros.  “These data are not only consistent with those from our earlier Phase 2 arthroscopic ACL trial that demonstrated functional improvement over a 30-day course of physical therapy, they showed sustained clinical benefit throughout an even longer 90-day follow-up period.”

About OMS103HP

OMS103HP is being developed for use during arthroscopic surgery to reduce postoperative pain and improve postoperative joint motion and function.  OMS103HP is injected into standard arthroscopic irrigation solutions and perfused through the joint in low concentrations during surgery.  It is currently being evaluated in a Phase 3 clinical program for anterior cruciate ligament (ACL) surgery and has also completed a Phase 2 clinical trial for meniscectomy surgery.  If approved, OMS103HP would be the first commercially available drug delivered directly to the surgical site to improve function following arthroscopic surgery.

About Meniscectomy Surgery

Arthroscopic meniscectomy is a minimally invasive surgical procedure to remove or repair a torn meniscus cartilage in the knee. Postoperative recovery to normal function may take months.  Approximately four million arthroscopic operations were performed in the United States in 2006, including 2.6 million knee arthroscopy operations.

About Omeros Corporation

Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. The Company’s most clinically advanced product candidates are derived from its proprietary PharmacoSurgery™ platform designed to improve clinical outcomes of patients undergoing a wide range of surgical and medical procedures. Omeros has five ongoing clinical development programs, including four from its PharmacoSurgery™ platform and one from its Addiction program, the most advanced of which is in Phase 3 clinical trials. Omeros may also have the near-term capability, through its GPCR (G-protein coupled receptor) program, to add an unprecedented number of wholly new drug targets to the market. Behind its clinical candidates and GPCR platform, Omeros is building a diverse pipeline of antibody and small-molecule preclinical programs targeting inflammation and central nervous system disorders.

Conference Call and Webcast Today at 4:30 p.m. Eastern Time

The Omeros management team will host a conference call today, March 31, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time), to discuss the OMS103HP Phase 2 clinical data, as well as the Company’s fourth quarter and year-end 2009 financial results and development highlights.  Interested parties may participate in the conference call by dialing 888-500-6973 (United States and Canada) or 719-457-2637 (International). In addition, the live conference call is being webcast and can be accessed on the “Events” page of the Company’s website at http://www.omeros.com.

A replay of the webcast will be available on the Company’s website for one week.  A telephone replay will also be available for one week starting at 7:30 p.m. Eastern Time on March 31, which can be accessed by dialing 888-203-1112 (United States and Canada) or 719-457-0820 (International) and entering conference ID number 2664433.

Forward-Looking Statements

This press release contains forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, which are subject to the “safe harbor” created by those sections. Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Omeros’ actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, the risks, uncertainties and other factors described under the heading “Risk Factors” in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 19, 2009. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.

Air Transport Services Group (ATSG) Announces New Long-Term Agreements with DHL

Mar. 30, 2010 (Business Wire) — Air Transport Services Group, Inc. (NASDAQ: ATSG), today announced the execution of new long-term agreements under which the subsidiaries of ATSG will continue providing aircraft and operating support to the U.S. portion of DHL’s international logistics network.

The principal operating agreements are:

• A new five-year Air Transportation Services Agreement between its subsidiary, ABX Air, and DHL, which specifies the terms under which ABX will continue providing 767 aircraft operating support to the U.S. portion of DHL’s international logistics network on a primarily fixed-price, rather than cost-plus basis. The agreement covers Crew, aircraft Maintenance and Insurance (CMI) services necessary to initially operate thirteen scheduled Boeing 767 aircraft in DHL’s domestic cargo network through March 2015, with an option for the parties to extend the agreement through March 2020.
• Seven-year lease agreements between DHL and Cargo Aircraft Management (CAM), ATSG’s aircraft leasing subsidiary, covering thirteen Boeing 767 freighter aircraft, including four aircraft on which DHL held an option to lease under an agreement struck in June 2009. Seven of the thirteen leases are anticipated to become effective in April 2010, with all thirteen targeted to be in place by April 2011, predicated on the conversion schedule for standard 767 freighter door modifications currently underway. ABX Air will provide interim 767 freighter aircraft under similar economic terms as required by DHL until such time as all freighter door modifications are completed.

ABX Air and DHL also entered into an agreement terminating their current ACMI Agreement, which had been in place since August 15, 2003, and was set to expire August 15, 2010. The termination agreement covers the settlement and release of all residual liabilities and commitments related to the ACMI Agreement and former Hub and Line-haul Services Agreement, as well as the Severance and Retention Agreement between the parties.

Key features of these agreements, as well as other significant items agreed between the parties, are summarized below.

CMI Agreement:

• Five year CMI agreement beginning March 31, 2010 with a two year extension right at DHL’s sole option and up to a five-year extension option subject to mutual agreement
• Provides for ABX Air to be the exclusive operator for up to thirteen Boeing 767-200 series aircraft operated in DHL’s U.S. domestic air network
• Firm pricing for 2010 with confirmed annual escalations through 2012; escalations beyond 2012 based on the consumer price index; flight crew costs escalated based on provisions of ABX Air’s labor agreement with its pilots’ union
• Significant incentive potential based upon monthly on-time aircraft performance above target levels, as adjusted for controllable delays; similar disincentive potential for service results below target levels
• Agreed pricing adjustments for flight crew and other costs resulting from an increase or decrease in the number of scheduled aircraft
• DHL to provide fuel at its expense and will reimburse ABX Air for customary pass-through charges
• ABX Air to provide spare aircraft support
• Airborne Maintenance & Engineering Services, Inc., an ATSG subsidiary, to provide airframe heavy maintenance services for the thirteen aircraft from its maintenance facility in Wilmington, Ohio, for a minimum of three years
• Remaining $31.0 million DHL Note to be amortized on a monthly basis so as to be extinguished at the end of the initial five year term, with no cash payment requirement from ABX Air
• Payment by DHL to ABX Air of a material termination fee in the event DHL elects to terminate for convenience (amount reduces during the five year term), with no option to terminate during the first year
• Payment by ABX Air to DHL of a material termination fee in the event DHL terminates the CMI agreement due to an ABX Air event of default (amount reduces during the five-year term)
• DHL’s obligations under the CMI are guaranteed by Deutsche Post AG, DHL’s parent

Lease Agreement:

• Initially, thirteen 767 freighter aircraft, each for a term of seven years; seven commencing on or about April 1, 2010, with the other six anticipated to be in place by April 2011
• ABX Air to provide interim 767 freighter aircraft to DHL under similar economic terms until such time as modifications for all thirteen aircraft are completed
• Leases are guaranteed by Deutsche Post AG, DHL’s parent
• Four of the thirteen leases are for Boeing 767 aircraft for which DHL held lease options pursuant to a June 2009 agreement
• DHL is responsible for the cost of routine airframe heavy maintenance during the term of the lease

Significant Items Resolved through Termination Agreement:

• DHL agreed to pay ABX Air $31.1 million in settlement of open DC-9 and Boeing 767 freighter aircraft put values
• Pursuant to a Letter Agreement between ABX Air and DHL signed in March 2009, ABX agreed to pay $15.0 million toward the outstanding DHL Note balance, thereby reducing the remaining balance outstanding to $31.0 million
• DHL agreed to pay ABX Air an additional $11.2 million for reimbursement of accrued vacation paid out to ABX employees adversely impacted by DHL’s restructuring in the United States. ABX Air agreed to seek no additional reimbursement

Joe Hete, ATSG President and CEO, said, “These new agreements clearly evidence the continuing long-term relationship between ABX Air and DHL and address the significant remaining questions relating to the impact of DHL’s U.S. restructuring on ABX Air. Exiting the cost-plus structure of the ACMI Agreement in favor of the CMI Agreement and aircraft leases provides us an opportunity to achieve appropriate market returns for our assets for years forward, and our customer the opportunity to lock in flexibility and excellent service at a predictable price. We are very pleased to continue to support DHL as it provides its customers premium service for their international freight transiting the United States.”

Ken Allen, Chief Executive Officer of DHL Express and member of the Management Board of the world’s largest logistics company, Deutsche Post World Net, added, “We have a high regard for the service capability of ABX Air and the 767 freighter aircraft it operates on our behalf in the U.S. network, and are pleased to continue to partner with them under the new CMI arrangement.”

Hete concluded, “After months of intensive negotiations, the agreements we are announcing today truly reflect a new chapter for ABX Air. These agreements, coupled with the five-year collective bargaining agreement recently executed with its flight crews, position ABX Air to be a major player in the global ACMI market for years to come. Having emerged from the events of the past year with a stronger balance sheet, greater long-term security and diversity of cash flows, and renewed focus on serving our customers, I believe the ATSG family of companies is well positioned to generate attractive returns for its shareholders and excellent service to its customers in 2010 and beyond.”

Conference Call

Air Transport Services Group will host a conference call to review its financial results for 2009 and these agreements with DHL on Thursday, April 1, 2010, at 10:00 a.m. Eastern Daylight Savings time. Participants should dial (888) 713-4215 and international participants should dial (617) 213-4867 ten minutes before the scheduled start of the call and ask for conference ID #23057952.

The call will also be webcast live (listen-only mode) and will include slides that will progress automatically during the call. If you are joining the teleconference and wish to access the slides please go either to the Company’s website at www.atsginc.com, or to earnings.com for individual investors, and www.streetevents.com for institutional investors. A replay of the conference call will be available beginning two hours after the conclusion of the call. It will be available by phone for eight days after the call at (888) 286-8010 (international callers (617) 801-6888); use pass code ID #81854905. The webcast replay will remain available for 30 days.

About ATSG

ATSG is a leading provider of air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. Through five principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides air cargo lift, aircraft leasing, aircraft maintenance services, airport ground services, fuel management, specialized transportation management, and air charter brokerage services. ATSG’s subsidiaries include ABX Air, Inc., Air Transport International, LLC, Capital Cargo International Airlines, Inc., Cargo Aircraft Management, Inc., LGSTX Services, Inc., and Airborne Maintenance and Engineering Services, Inc. For more information, please see www.atsginc.com.

Safe Harbor Statement

Except for historical information contained herein, the matters discussed in this release contain forward-looking statements that involve risks and uncertainties. There are a number of important factors that could cause Air Transport Services Group’s (“ATSG’s”) actual results to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, the timely completion of 767 freighter modifications as anticipated under the new agreements with DHL, ABX Air’s ability to maintain on-time service under the CMI Agreement, and other factors that are contained from time to time in ATSG’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should carefully review this release and should not place undue reliance on ATSG’s forward-looking statements. These forward-looking statements were based on information, plans and estimates as of the date of this release. ATSG undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes.

ArQule (ARQL) Announces Results of Phase 2 Trial

Mar. 31, 2010 (Business Wire) — ArQule, Inc. (Nasdaq: ARQL) today announced that ARQ 197, when used in combination with erlotinib, demonstrated a 66% improvement in median Progression-Free Survival (PFS) in patients with advanced, refractory non-small cell lung cancer (NSCLC). In the intent to treat (ITT) population (n = 167), median PFS was 16.1 weeks in the ARQ 197 plus erlotinib arm, compared with 9.7 weeks in the erlotinib plus placebo arm.

The difference in PFS between the two arms did not achieve statistical significance (hazard ratio = 0.809) by applying a log-rank test. When adjusting for imbalances in the distribution of key prognostic factors, the difference in PFS was statistically significant (hazard ratio = 0.675) by applying a Cox regression analysis specified for secondary efficacy analyses.

Improvement in median PFS was more pronounced in the pre-defined sub-group of patients with non-squamous histology (n = 117); median PFS was 18.9 weeks in the treatment arm versus 9.7 weeks in the control arm, which represents a 94% improvement. Based on an exploratory Cox regression analysis, the endpoint of PFS was met in the sub-group and achieved statistical significance (hazard ratio = 0.613).

There were no clinically relevant differences in adverse event rates between the treatment and control arms. The majority of adverse events were mild in intensity and included rash, diarrhea and fatigue.

“We believe the treatment benefit observed in this trial would represent a meaningful clinical improvement over standard therapy if replicated in Phase 3 trials,” said Dr. Brian Schwartz, chief medical officer of ArQule. “We are especially encouraged by the potential benefit for the large sub-group of non-squamous cell patients. We will thoroughly analyze our extensive database from this trial, including additional patient sub-group characteristics, to optimize ongoing and future trials of ARQ 197.”

Complete data from this trial, which will include biomarker analyses, will be presented at a future medical meeting during 2010.

One hundred sixty-seven patients were evaluated in the Phase 2 trial. Participating patients were EGFR (epidermal growth factor receptor) inhibitor naïve and were randomized one-to-one to receive either the combination of ARQ 197 plus erlotinib or placebo plus erlotinib in second and third line settings. ARQ 197 is an orally available, small molecule inhibitor of the c-Met receptor tyrosine kinase. Erlotinib, marketed as Tarceva™, is an inhibitor of the EGFR tyrosine kinase.

ARQ 197 is also currently being evaluated in clinical trials as a single agent and in combination with other anti-cancer therapies in a number of indications, including c-Met-associated soft-tissue sarcomas, hepatocellular carcinoma, pancreatic adenocarcinoma, germ cell tumors and colorectal cancer.

Patients, physicians and other healthcare professionals seeking additional information regarding trials involving ARQ 197 may call 1-800-373-7827.

The American Cancer Society’s estimates of the impact of lung cancer in the U.S. during 2009 include approximately 219,000 new cases (both non-small cell and small cell) and 159,000 deaths resulting from the disease, accounting for 28 percent of all cancer deaths. Lung cancer is the leading cause of cancer death among both men and women.

Conference Call and Webcast

ArQule will hold a conference call at 8:30 a.m. eastern time today, March 31, 2010 to discuss the results of the trial described above.

A replay of the conference call will be available beginning at Noon on March 31, 2010 for seven days and can be accessed by dialing toll-free (800) 642-1687 and outside the U.S. (706) 645-9291. The confirmation code for replayed calls is 66413046.

About c-Met and ARQ 197

When abnormally activated, the c-Met receptor tyrosine kinase plays multiple roles in aspects of human cancer, including cancer cell growth, survival, angiogenesis, invasion and metastasis. Pre-clinical data have demonstrated that ARQ 197 inhibits c-Met activation in a range of human tumor cell lines and shows anti-tumor activity against several human tumor xenografts. In clinical trials to date, treatment with ARQ 197 has been well tolerated and has resulted in tumor responses and prolonged stable disease across broad ranges of tumors and doses.

About ArQule, Inc. and Daiichi Sankyo, Co., Ltd.

On December 19, 2008, ArQule and Daiichi Sankyo, Co., Ltd. signed a license, co-development and co-commercialization agreement to co-develop ARQ 197 in the U.S., Europe, South America and the rest of the world, excluding Japan, China (including Hong Kong), South Korea and Taiwan, where Kyowa Hakko Kirin Co., Ltd. has exclusive rights for development and commercialization.

About ArQule

ArQule is a biotechnology company engaged in the research and development of next-generation, small-molecule cancer therapeutics. The Company’s targeted, broad-spectrum products and research programs are focused on key biological processes that are central to human cancers. ArQule’s lead product, in Phase 2 clinical development, is ARQ 197, an inhibitor of the c-Met receptor tyrosine kinase. The Company is also conducting Phase 1 clinical testing with ARQ 621, designed to inhibit the Eg5 kinesin motor protein. The Company’s pre-clinical pipeline includes a compound designed to inhibit the B-RAF kinase. ArQule’s current discovery efforts, which are based on the ArQule Kinase Inhibitor Platform (AKIP™), are focused on the identification of novel kinase inhibitors that are potent, selective and do not compete with ATP (adenosine triphosphate) for binding to the kinase. The most advanced AKIP™ program is focused on the discovery of inhibitors of fibroblast growth factor receptor (FGFR).

This press release contains forward-looking statements regarding the progress of the Company’s clinical trials, including its Phase 2 trial with ARQ 197 in non-small cell lung cancer (NSCLC) and trials which may be conducted by Daiichi Sankyo and/or Kyowa Hakko Kirin under their agreements with the Company. These statements are based on the Company’s current beliefs and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially. Positive information about early stage clinical trial results is not necessarily indicative of clinical efficacy and does not ensure that later stage or larger scale clinical trials will be successful. For example, ARQ 197 may not demonstrate promising therapeutic effect; in addition, this compound may not demonstrate an appropriate safety profile in further pre-clinical testing and in current, later stage or larger scale clinical trials as a result of known or as yet unanticipated side effects. The results achieved in later stage trials may not be sufficient to meet applicable regulatory standards. Problems or delays may arise during clinical trials or in the course of developing, testing or manufacturing these compounds that could lead the Company or its partner to discontinue development. Even if later stage clinical trials are successful, the risk exists that unexpected concerns may arise from analysis of data or from additional data or that obstacles may arise or issues be identified in connection with review of clinical data with regulatory authorities or that regulatory authorities may disagree with the Company’s view of the data or require additional data, information or studies. In addition, the planned timing of initiation and completion of clinical trials for ARQ 197 are subject to the ability of the Company or Daiichi Sankyo, its partner, and Kyowa Hakko Kirin, a licensee of ARQ 197, to enroll patients, enter into agreements with clinical trial sites and investigators, and other technical hurdles and issues that may not be resolved. Moreover, Daiichi Sankyo has certain rights to unilaterally terminate the ARQ 197 license, co-development and co-commercialization agreement. Drug development involves a high degree of risk. Only a small number of research and development programs result in the commercialization of a product. Furthermore, ArQule may not have the financial or human resources to pursue drug discovery successfully in the future. For more detailed information on the risks and uncertainties associated with the Company’s drug development and other activities see the Company’s periodic reports filed with the Securities and Exchange Commission. The Company does not undertake any obligation to publicly update any forward-looking statements.

Versar (VSR) Awarded $7.6 Million Contract by U.S. Environmental Protection Agency

Mar. 30, 2010 (Business Wire) — Versar, Inc. (NYSE Amex:VSR) announced today that it was awarded a five-year, $7.6 million contract to review and evaluate pesticide product and residue chemistry data by the Office of Pesticide Programs (OPP), Health Effects Division (HED), of the U.S. Environmental Protection Agency (EPA). The EPA’s award of this new contract to Versar increases the total number of contracts to six currently managed by Versar’s Exposure and Risk Assessment Division.

Under this new contract, Versar will review and evaluate product and residue chemistry data for the registration and re-registration of pesticides; perform data analysis and database development; and prepare technical presentations. The support under this contract will assist the OPP under their regulatory mandates, and will continue Versar’s more than 20 years of support to the EPA’s pesticide exposure assessment programs.

Tony Otten, CEO of Versar, said, “Versar continues to expand our funded backlog with the win of important new contracts. While Versar has worked with the EPA’s pesticides program for two decades, this win moves us into new areas and scientific disciplines. The EPA’s pesticides programs are among the EPA’s highest priorities to better characterize chemical exposures and risks to our communities. Versar brings innovative approaches and rigorous scientific analysis to support EPA’s programs that ensure the safety of all our citizens.”

VERSAR, INC., headquartered in Springfield, VA, is a publicly held international professional services firm supporting government and industry in national defense/homeland defense programs, environmental health and safety and infrastructure revitalization. VERSAR operates a number of web sites, including the corporate Web sites, http://www.versar.com, http://www.homelanddefense.com, http://www.geomet.com; http://www.viap.com; http://www.dtaps.com; www.ppsgb.com; www.adventenv.com.

This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended June 26, 2009. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.

LGL Group (LGL) Names LaDuane Clifton Chief Accounting Officer

ORLANDO, Fla., March 30, 2010 (GLOBE NEWSWIRE) — The LGL Group, Inc. (NYSE Amex:LGL) today announced the appointment of R. LaDuane Clifton, CPA, as its Chief Accounting Officer. Mr. Clifton had previously served as the Company’s Corporate Controller since August 2009. Prior to joining the Company, Mr. Clifton was CFO of a21, Inc. (Jacksonville, FL), a publicly-held holding company in the stock photography and home decor industries, and a Senior Associate of KMPG LLP, the international accounting and management consulting firm.

LGL, through its wholly-owned subsidiary MtronPTI, is a leading producer of frequency control, filter and integrated subsystems for the multi-billion dollar telecom, military, space satellite and avionics markets.

Mr. Clifton will report to LGL Chief Executive Greg Anderson. He will focus on corporate cost reductions and furthering the firm’s ongoing efforts to set the Company on the path to profitability. “We are pleased to have LaDuane on board, given his deep background in finance and accounting, his proven ability to interact with investors and his talent for budgeting and development of strategic initiatives,” Mr. Anderson said.

About The LGL Group, Inc.

The LGL Group, Inc., through its wholly-owned subsidiary MtronPTI, manufactures and markets highly engineered electronic components used to control the frequency or timing of signals in electronic circuits. These devices are used extensively in infrastructure equipment for the telecommunications and network equipment industries. They are also used in electronic systems for military applications, avionics, earth-orbiting satellites, medical devices, instrumentation, industrial devices and global positioning systems. The Company has operations in Orlando, Florida, Yankton, South Dakota and Noida, India. MtronPTI also has a sales office in Hong Kong, China.

For more information on the Company and its products and services, contact Greg Anderson at The LGL Group, Inc., 2525 Shader Rd., Orlando, Florida 32804, (407) 298-2000, or visit the Company’s Web site: www.lglgroup.com.

Caution Concerning Forward Looking Statements

This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. More detailed information about those factors is contained in the Company’s filings with the Securities and Exchange Commission.

Socket Mobile (SCKT) and 3M Collaborate to Provide Secure, Flexible Asset Tracking Solution

NEWARK, CA — (Marketwire) — 03/30/10 — Socket Mobile, Inc. (NASDAQ: SCKT), an innovative provider of mobile productivity solutions, today announced with 3M Track and Trace Solutions that it will provide a flexible, easy and secure method of tracking, locating and managing assets. This 3M Asset and Inventory Tracking System solution will be composed of 3M software, 3M RFID or barcode tags and Socket hardware including the Socket SoMo 650 handheld computer and the dual-function Socket CompactFlash RFID Reader-Scan Card™ 6P.

“The Socket SoMo 650 and CF RFID Reader-Scan card combination is a powerful tool for mobile asset management and satisfies our requirements in terms of a wireless handheld reader for the 3M Asset and Inventory Tracking System,” said Tom Mercer, Market Development Supervisor at 3M Track and Trace Solutions.

The 3M Asset and Inventory Tracking System allows businesses to streamline their operations by efficiently monitoring and managing assets and inventory. The system is compatible with both 3M and third-party RFID and barcode tags, giving companies greater flexibility in selecting a solution that meets their needs. In addition, data is backed up automatically in a Tier III data center, where it can be accessed any time and from anywhere, eliminating the need to install and configure additional servers.

“The 3M Asset and Inventory Tracking System is geared specifically toward small and medium businesses where maximizing profits and minimizing costs is essential to operating successfully,” said Chuck Furedy, senior vice president of worldwide sales at Socket Mobile. “Socket has a long-standing history of providing SMBs with innovative solutions that increase productivity and efficiency, and we’re excited to work with 3M as they bring their solution to market.”

For more information and to purchase visit the 3M Asset and Inventory Tracking System Web page.

About 3M
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms — often in combination — to a wide array of customer needs. With $23 billion in sales, 3M employs 76,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com.

About 3M Track and Trace Solutions
3M provides comprehensive, practical and easy to use solutions for customers in diverse markets, including health care, safety and security, aerospace and government, oil and gas, process industries, supply chain, construction and utilities, libraries and legal. Utilizing RFID, GPS and other technologies, our asset management, protection, and utilization solutions enable customers to reliably and accurately manage high-value assets. Unlike similar offerings, based on components rather than complete solutions, 3M systems are designed with full implementation in mind, deploying the right solution, with the right technology, suited for the customer. For more information, go to www.3Mtrackandtrace.com.

About Socket Mobile, Inc.
With more than 15 years of experience in the Automatic Identification and Data Capture market, Socket makes mobile computing and productivity work. The company offers a family of handheld computers and an extensive portfolio of AIDC peripherals designed specifically for business mobility deployments and to enable productivity increases and drive operational efficiencies in healthcare, hospitality and other vertical markets. The company also offers OEM solutions. Socket is headquartered in Newark, Calif. and can be reached at 510-933-3000 or www.socketmobile.com.

Socket, SoMo and CompactFlash RFID Reader-Scan Card are trademarks or registered trademarks of Socket Mobile, Inc. 3M is a trademark of 3M Company. All other trademarks and trade names contained herein may be those of their respective owners.

Microsemi Corporation (MSCC) to Acquire White Electronic Designs Corporation

Mar. 30, 2010 (GlobeNewswire) —

Food Technology Service, Inc. (VIFL) Reports Earnings

Mar. 30, 2010 (Business Wire) — Food Technology Service, Inc. (Nasdaq: VIFL) today announced financial results for the year ending December 31, 2009. The Company had revenue of $2,515,978 in 2009 which is comparable to the $2,507,078 realized in 2008. Income before taxes was $559,358 in 2009 compared to $505,387 in 2008, an increase of about 10.7 per cent. Income per share before taxes was $0.203 for 2009 compared to $0.183 for 2008.

The Company periodically evaluates the value of tax-loss carry-forward credits on its financial statements as required by Generally Accepted Accounting Principles. In 2008, the Company increased the value of the tax-loss carry-forward credits which increased net income in 2008 and stockholders equity at December 31, 2008 by $525,000. Based on increased profitability in 2009 and potential future profitability, the Company again increased the value of the tax-loss carry-forward credits which increased net income in 2009 and stockholders equity at December 31, 2009 by $139,000. Due to the tax credit adjustments, the Company had net income of $698,358 or $0.253 per share in 2009 compared to net income of $1,030,387 or $0.374 per share in 2008.

Revenue for the fourth quarter of 2009 was $640,039 compared to $641,731 during the same period in 2008.

Food Technology Service, Inc. CEO Dr. Richard Hunter said, “I am pleased by our increased profitability despite the loss of a large customer that was purchased and moved to Texas early in 2009. The fact that annual and fourth quarter revenues were nearly identical between 2009 and 2008 is an indication that the Company has replaced much of that business. We continue to generate over $1,000,000 per year in cash flow and retired nearly $630,000 in debt during 2009. This negates all stock conversion rights held on that debt and we are debt-free.”

Food Technology Service, Inc. provides irradiation services for food items, medical products and consumer goods to enhance the safety of those products. The Company is certified to ISO 13485:2003 standards for radiation sterilization services for medical devices.

Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties that may affect business and prospects and cause actual results to differ materially from these forward-looking statements.

Rosetta Genomics (ROSG) Announces Publication of the Development and Validation Process of miRview(TM)

Mar. 29, 2010 (Business Wire) — Rosetta Genomics, Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces publication of an article describing the development and validation process of miRview™ mets, the company’s microRNA-based test for identification of primary origin of metastases. The article, “Validation of a microRNA-based qRT-PCR test for accurate identification of tumor tissue origin,” was published on March 26^th in the online issue of Modern Pathology, a peer-reviewed publication. The abstract of the study may be viewed online at: http://www.nature.com/modpathol/journal/vaop/ncurrent/abs/modpathol201057a.html

It is estimated that more than 70,000 patients in the U.S. are diagnosed with CUP, and thousands more have metastases where the origin is difficult to identify. Knowing the origin of a metastasis affects treatment decisions, and CUP patients may undergo a wide range of costly, time-consuming and inefficient tests to identify the primary site of origin, often to no avail.

The miRview™ mets test, which included more than 850 samples in its development and validation, uses two classifiers that independently look for a primary origin. When the two classifiers reach the same answer, the test reports a single predicted origin. When the two classifiers identify two different predicted origins, both are reported. In the study described in Modern Pathology, the overall sensitivity was approximately 85%, and the sensitivity of a single answer prediction was approximately 90%. Overall specificity was 97%-99%.

“This publication is yet another validation of the significant advantage of microRNAs as biomarkers,” said Kenneth A. Berlin, President and CEO of Rosetta Genomics. “Their high tissue specificity, stability in a wide range of sample types and the large amount of biological information they carry makes microRNAs ideal biomarkers for a range of disease states and indications, including metastatic cancer. As we have previously announced, we expect to launch a second generation of our miRview™ mets in the second half of 2010. This new version is expected to be able to identify approximately twice the number of origins compared with the first generation test.”

miRview™ mets leverages Rosetta Genomics’ proprietary microRNA technologies to assign a primary site to metastases in cases where the physician is unsure of its origin. These technologies were described in-depth in a study by Rosetta Genomics, published March 2008 in Nature Biotechnology.

miRview™ mets is marketed in the U.S. by Prometheus Laboratories under the ProOnc™ mets brand, and is available outside the U.S. through various distributors under the miRview™ mets brand.

About microRNAs

MicroRNAs (miRNAs) are recently discovered, small RNAs that act as master regulators of protein synthesis, and have been shown to be highly effective biomarkers. MicroRNAs’ unique advantage as biomarkers lies in their high tissue specificity, and their exceptional stability in the most routine preservation methods for biopsies, including Formalin Fixed Paraffin Embedded (FFPE) block. It has been suggested that their small size (19-21 nucleotides) enables them to remain intact in FFPE blocks, as opposed to messenger RNA (mRNA), which tends to degrade rapidly in samples preserved by this method. In addition, early preclinical data has shown that by controlling the levels of specific microRNAs, cancer cell growth may be reduced. To learn more about microRNAs, please visit www.rosettagenomics.com.

About miRview™ Products

miRview™ are a series of microRNA-based diagnostic tests developed by Rosetta Genomics. miRview™ mets accurately identifies the primary tumor site in metastatic cancer and Cancer of Unknown Primary. miRview™ squamous accurately identifies the squamous subtype of NSCLC, which carries an increased risk of severe of fatal internal bleeding and poor response to treatment for certain therapies. miRview™ meso diagnoses mesothelioma, a cancer connected to asbestos exposure. miRview™ tests are designed to provide objective diagnostic data; it is the treating physician’s responsibility to diagnose and administer the appropriate treatment. In the U.S. alone, over 100,000 patients a year may benefit from the miRview™ mets test, 60,000 from miRview™ squamous, and 60,000 from miRview™ meso, with similar numbers of patients outside the U.S. The company’s tests are now being offered through distributors around the globe. For more information, please visit www.mirviewdx.com.

About Rosetta Genomics

Rosetta Genomics is a leading developer of microRNA-based molecular diagnostics. Founded in 2000, the company’s integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs. Building on its strong patent position and proprietary platform technologies, Rosetta Genomics is working on the application of these technologies in the development of a full range of microRNA-based diagnostic tools. The company’s first three microRNA-based tests, miRview™ squamous, miRview™ mets and miRview™ meso, are commercially available through its Philadelphia-based CLIA-certified lab. Rosetta Genomics is the 2008 winner of the Wall Street Journal’s Technology Innovation Awards in the medical/biotech category. To learn more, please visit www.rosettagenomics.com.

Forward-Looking Statement Disclaimer

Various statements in this release concerning Rosetta’s future expectations, plans and prospects, including without limitation, statements relating to the expected launch of a second generation of miRview mets in the second half of 2010, the role of microRNAs in human physiology and disease, and the potential of microRNAs in the diagnosis and treatment of disease, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: Rosetta’s approach to discover microRNA technology and to work on the application of this technology in the development of novel diagnostics and therapeutic tools, which may never lead to commercially accepted products or services; Rosetta’s ability to obtain, maintain and protect its intellectual property; Rosetta’s ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta’s need and ability to obtain additional funding to support its business activities; Rosetta’s dependence on third parties for development, manufacture, marketing, sales, and distribution of products; Rosetta’s ability to successfully develop its products and services; Rosetta’s ability to obtain regulatory clearances or approvals that may be required for its products and services; the ability to obtain coverage and adequate payment from health insurers for the products and services comprising Rosetta’s technology; competition from others using technology similar to Rosetta’s and others developing products for similar uses; Rosetta’s dependence on collaborators; and Rosetta’s short operating history; as well as those risks more fully discussed in the “Risk Factors” section of Rosetta’s Annual Report on Form 20-F for the year ended December 31, 2008 as filed with the Securities and Exchange Commission. In addition, any forward-looking statements represent Rosetta’s views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Rosetta does not assume any obligation to update any forward-looking statements unless required by law.

MDRNA, Inc. (MRNA) Announces Patent Allowance Covering Methods for Cell Specific Delivery of siRNAs

BOTHELL, WA — (Marketwire) — 03/29/10 — MDRNA, Inc. (NASDAQ: MRNA), a leading RNAi-based drug discovery and development company, today announced that the U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance for patent application U.S. 12/701,397 covering methods for the delivery of siRNAs as well as a broad array of compounds with pharmacological activity. The patent identifies and protects peptides that were discovered using MDRNA’s proprietary Trp Cage Phage Display Library and describes targeting peptides that demonstrate high binding affinity to, and internalization by, hepatocellular carcinoma cells.

“Specificity to individual cell types and internalization are key attributes required for peptide-directed delivery,” said Barry Polisky, Ph.D., Chief Scientific Officer of MDRNA. “The Trp Cage Phage Display Library is proving to be a robust means to screen and identify peptides that impart these targeting characteristics. The addition of these novel peptides to our proprietary DiLA2 delivery platform technology permits the potential development of highly tissue- and cell-specific RNAi-based therapies for the treatment of cancers in which the need to differentiate between normal and diseased cells is important.”

MDRNA’s proprietary Trp Cage Phage Display Library (J Biol Chem. 2007 282(13):9813) is the subject of an issued patent, U.S. patent 7,329,725. The Trp Cage motif is highly structured allowing for the identification of peptides with high binding affinity for specific cell or tissue types, and avoids the limitations and weak binding often associated with linear peptide libraries. This technology is directly applicable to the Company’s DiLA2 delivery platform as peptides are readily conjugated to the amino acid scaffold of a DiLA2. Peptides capable of directed delivery are expected to further improve the delivery efficiency of UsiRNAs, which have demonstrated significant knockdown of target genes in mouse models of liver and bladder cancer, and in non-human primates.

“This is the second Notice of Allowance that we have received in the past four months from the USPTO for a patent application that covers the use of our proprietary targeting peptide technology,” said J. Michael French, President and CEO of MDRNA. “We are pleased that the USPTO recognizes the novelty and significance of our proprietary peptide targeting technology. The identification of additional peptides with high affinity to specific cell types, including certain cancers, further strengthens our broad patent estate.”

On December 17, 2009, MDRNA received a Notice of Allowance from the USPTO for patent application U.S. 11/627,863, which covers the use of targeting peptides that have preferential binding affinity for lung tissue.

About MDRNA’s Technology

MDRNA has a broad intellectual property estate that encompasses four key RNAi technology platforms: siRNA constructs, chemistry, nucleic acid delivery, and gene targets. The MDRNA-owned siRNA constructs and chemistry include its proprietary UsiRNA construct, which is a duplex siRNA chemically modified with non-nucleotide acyclic monomers (UNAs), and is distinct from the standard siRNA construct used by others in the industry. UsiRNAs are fully recognized by the RNAi machinery and provide for potent RNAi activity while specific placement of UNAs in a duplex siRNA minimizes potential off-target effects by the guide strand and reduces undesired passenger strand activity. Furthermore, UsiRNAs escape the surveillance mechanisms associated with cytokine induction, and provide protection from nuclease degradation.

The MDRNA delivery platforms include DiLA2 and nanoparticle forming peptides. DiLA2 is an MDRNA proprietary delivery platform of novel synthetic di-alklylated amino acid compounds used to make liposomal delivery formulations. The DiLA2 platform enables MDRNA to tailor the charge, linker and acyl chains of amino acids in order to configure liposomes for delivery to target tissues of interest. In addition, the platform is designed to permit attachment of various peptides and other targeting molecules to improve a variety of delivery characteristics. The MDRNA peptide nanoparticle platform includes exclusively in-licensed and developed IP surrounding the use of peptides for nanoparticle formulations that increase cellular uptake and endosomal release of siRNAs. MDRNA is currently biopanning its patented phage display library to identify additional peptides for targeted delivery, cellular uptake and endosomal release of siRNA.

MDRNA owns or controls 16 issued or allowed patents, and has 36 pending patent applications, 126 pending foreign patent applications and 7 PCT applications.

About MDRNA, Inc.

MDRNA is a biotechnology company focused on the development and commercialization of therapeutic products based on RNA interference (RNAi). Our goal is to improve human health through the development of RNAi-based compounds and drug delivery technologies that together provide superior therapeutic options for patients. Over the past decade, we have developed substantial capabilities in molecular biology, cellular biology, amino acid chemistry, peptide chemistry, pharmacology and bioinformatics, which we are applying to a wide range of RNAi technologies and delivery approaches. These capabilities plus the in-licensing of key RNAi-related intellectual property have rapidly enabled us to become a leading RNAi-based therapeutics company with a pre-clinical pipeline in oncology. Through our capabilities, expertise and know-how, we are incorporating multiple RNAi technologies as well as peptide- and liposomal-based delivery approaches into a single integrated drug discovery platform that will be the engine for our clinical pipeline as well as a versatile platform for establishing broad therapeutic partnerships with biotechnology and pharmaceutical companies. We are also investing in new technologies that we expect to lead to safer and more effective RNAi-based therapeutics while aggressively building upon our broad and extensive intellectual property estate. By combining broad expertise in siRNA science with proven delivery platforms and a strong IP position, MDRNA is well positioned as a leading RNAi-based drug discovery and development company. Additional information about MDRNA, Inc. is available at http://www.mdrnainc.com.

MDRNA Forward-Looking Statements

Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of MDRNA to obtain additional funding; (ii) the ability of MDRNA to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) the ability of MDRNA and/or a partner to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) the ability of MDRNA and/or a partner to obtain required governmental approvals; and (v) the ability of MDRNA and/or a partner to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in MDRNA’s most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. MDRNA assumes no obligation to update and supplement forward-looking statements because of subsequent events.

Oxygen Biotherapeutics (OXBT) Now Marketing New Formulation of Dermacyte(TM) Oxygen Concentrate

DURHAM, N.C., March 29, 2010 (GLOBE NEWSWIRE) — Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) today announced that the company has begun distribution for its newly formulated Dermacyte™ Oxygen Concentrate for the beauty and skin care market. The over-the-counter product is a scientifically designed perfluorocarbon concentrate to enhance oxygen delivery to skin. As of later this week, retail orders also can be placed on the Dermacyte secure website at www.BuyDermacyte.com.

“Inventory of Dermacyte™ sold out quickly last fall when it was originally introduced in a market test designed to gauge customer interest and response,” said Chris Stern, company chairman and CEO. “The feedback we received from customers was quite positive. We’ve improved the Dermacyte concentrate to be smoother and more effective. Therefore, we believe that our new cosmetic line has the potential to be a significant financial contributor to our company.”

Dermacyte™ Oxygen Concentrate is the first product in a broad and diverse cosmetic line currently under development. It uses the company’s patented Oxycyte technology, an oxygen carrier scientifically designed to enhance oxygen delivery to tissues such as skin. Some potential benefits of increased oxygenation to the skin include a decrease in the appearance of fine lines, wrinkles and dryness.

About Oxygen Biotherapeutics, Inc.

Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and Defense Medicine™. The company has developed a perfluorocarbon (PFC) therapeutic oxygen carrier and liquid ventilation product (Oxycyte™) and has out-licensed an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs as well as medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including traumatic brain injury, sickle cell crisis, trauma, wound care, decompression sickness, acute respiratory distress syndrome, stroke, myocardial infarction, surgery, diabetes wounds and ulcers, and cosmetic applications which are being marketed under the Dermacyte name. More information is available at www.oxybiomed.com.

The Oxygen Biotherapeutics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7277

Caution Regarding Forward-Looking Statements

This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company’s judgment as of the date of this release. These statements include those referring to the plans for the expansion of the Dermacyte product line and the timing of the introduction of those new products. Matters beyond the company’s control could lead to delays in the in the new product introductions and customer acceptance of these new products. Furthermore, there can be no assurance that such plans will lead to meaningful sales of Dermacyte or generate any revenue for the company. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Bell Microproducts (BELM) Announces Agreement to be Acquired by Avnet

SAN JOSE, Calif., March 29, 2010 (GLOBE NEWSWIRE) — Bell Microproducts Inc. (Nasdaq:BELM) (“Bell”) announced today that it has entered into a definitive agreement to be acquired by Avnet, Inc. (“Avnet”) in an all cash merger for $7.00 per share. The total transaction value of approximately $594 million is based upon an equity value of approximately $252 million and a Bell debt position, at face value and net of cash, of $342 million at December 31, 2009.  The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Bell’s shareholders as well as customary regulatory approvals. The transaction is expected to close in 60 to 120 days.

Don Bell, founder and Chief Executive Officer of Bell, commented, “This transaction delivers excellent value to our shareholders while providing an enhanced platform from which our employees can continue Bell’s heritage of helping suppliers reach our served markets with increasingly complex solutions. Given the rising demands of global technology markets, the investment required to deliver leading edge technical support and competitive supply chain networks continues to grow. Avnet’s financial resources and global infrastructure will allow the Bell organization to deliver industry-leading value to our customers and continue our long history of growth and market share gains.”

Roy Vallee, Avnet’s Chairman and Chief Executive Officer, commented, “We are very excited about the opportunity to build additional scale and scope in storage and computing solutions as well as increase our presence in the fast-growing Latin America market. Bell’s position in datacenter products and embedded systems complements Avnet’s current strategies and creates opportunities for cross selling. Bell’s position as one of the leaders in hard disk drive distribution substantially increases Avnet’s exposure to this product segment which is currently focused on embedded computing. In support of our focus on value-added solutions distribution in North America, we intend to explore strategic alternatives for the single tier reseller business. The combination of Bell’s strong customer/supplier relationships and talented employees, coupled with our value based management culture and discipline, should allow us to achieve our stated return on capital goals on this transaction following the completion of the integration.”

Raymond James acted as a financial advisor and Jones Day acted as legal counsel to Bell in connection with this transaction.

Updated First Quarter 2010 Financial Outlook

Bell currently expects to generate first quarter 2010 sales of $795 million to $815 million, an increase of 11% to 14% from the first quarter of 2009, and on the high-end of the previous first quarter sales guidance of $780 million to $815 million. Further, management is anticipating a first quarter shift in product mix. Distribution sales are expected to be relatively strong and approximately flat with Q4 sales levels, representing an estimated increase of 17% to 20% from the first quarter of 2009.  ProSys, the Company’s reseller division, is expected to generate lower than previously anticipated sales volumes, primarily due to seasonally lower purchases by a few large customers. Due to this product mix shift from higher margin single-tier sales and in part due to seasonality, the Company anticipates generating first quarter gross margins of between 8.5% and 9.0%, a decline from 9.4% in the fourth quarter of 2009.

Conference Call

A conference call relating to the announcement has been scheduled for today, March 29, 2010 at 8:30 AM ET (5:30 AM PT).  Please dial (201) 689-8840 to listen to the call.  In addition, a live internet broadcast will be available via Bell’s website at www.bellmicro.com.  A replay will be available approximately 2–3 hours after the call ends.  To access the replay, please dial 1-877-660-6853 or (201) 612-7415, account number 7815 and conference ID of 348184.

Forward Looking Statements

Some of the statements included in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these statements. These forward-looking statements include statements that reflect the current views of our senior management with respect to our financial performance and future events with respect to our business and our industry in general. Statements that include the words “expect,” “intend,” “plan,” “believe,” “anticipate,” “estimate” and similar statements of a future or forward-looking nature identify forward-looking statements. Statements regarding the merger, the closing of the merger and our first quarter 2010 financial outlook are forward-looking statements.

Forward-looking statements address matters that involve risks and uncertainties, for example, if we do not receive the required shareholder approval or the parties may fail to satisfy other conditions to closing, the transaction will not be consummated. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements. We believe that these factors include, but are not limited to, the following: our ability to comply with the financial covenants in our credit agreements; our ability to achieve cost reductions and other benefits in connection with our strategic initiatives; the circumstances resulting in the restatement of our historical financial statements and the material weaknesses in our internal control over financial reporting and in our disclosure controls and procedures; our ability to remain current in our SEC filings; loss or adverse effect on our supplier relationships; our ability to accurately forecast customer demand and order sufficient product quantities; competition in the markets in which we operate; the products we sell may not satisfy shifting customer demand; our reliance on third parties to manufacture the products we sell; our reliance on credit provided by our manufacturers to finance our inventory purchases; risks related to our substantial indebtedness, including the inability to obtain additional financing for our operations on terms acceptable to us or at all; limitations on our operating and strategic flexibility under the terms of our debt agreements; our ability to attract and retain qualified personnel; risks associated with doing business abroad, including foreign currency risks; our inability to identify, acquire and integrate acquired businesses; the outcome of any pending or future litigation or regulatory proceedings, including the pending French tax proceeding, the current shareholder lawsuit and any claims or litigation related to the restatement of our consolidated financial statements; the effects of a prolonged economic downturn; and our ability to reduce professional fees for audit, legal, tax and outside accounting advisor services.

For a more detailed discussion of how these and other risks and uncertainties could cause our actual results to differ materially from those indicated in our forward-looking statements, see our reports filed with SEC (available at www.sec.gov), including our Annual Report on Form 10-K for the year ended December 31, 2009.

About Bell

Bell Microproducts (Nasdaq:BELM) is an international, value-added distributor of a wide range of high-tech products, solutions and services, including storage systems, servers, software, computer components, and peripherals, as well as maintenance and professional services. An industry-recognized specialist in storage products, the Company is one of the world’s largest storage-centric value-added distributors.

Bell Microproducts is uniquely qualified with deep technical and application expertise to service a broad range of information technology needs. From design to deployment, its products are available at any level of integration, from components to subsystem assemblies and fully-integrated, tested and certified system solutions. More information can be found in the Company’s SEC filings, or by visiting the Bell Microproducts website at http://www.bellmicro.com.

Servidyne (SERV) Announces Its Largest Energy Savings Contract to Date

Mar. 29, 2010 (Business Wire) — SERVIDYNE, INC. (Nasdaq: SERV), an energy efficiency and demand response company, today reported that it has entered into a contract with a major U.S. retailer to dramatically improve the energy efficiency of approximately 600 of its stores and distribution centers. The agreement has an estimated total revenue value of $8.7 million for project work that should begin almost immediately and be completed over the next 12-24 months.

Both companies expect their new strategic partnership will continue beyond the term of this initial agreement for an additional two to three years, in a comprehensive effort by the customer to expand this energy efficiency program to all of its existing stores, as well as its new locations and its franchisees. Terms of any such future work have not been negotiated.

“Servidyne developed this program in conjunction with our customer over the past 18 months, through a series of pilot demonstration projects and initial installations,” noted Todd Jarvis, President and CEO of Servidyne’s Building Performance Efficiency (BPE) Segment. “We estimate that this initial investment by our customer will yield its shareholders a return on invested capital in excess of 40 percent.”

Servidyne’s work to be completed under the agreement consists of lighting efficiency upgrades and installation of new controls that will automate the scheduling and operation of the retailer’s heating and cooling equipment. The new controls system and related software will provide the customer with a robust information dashboard that will detail energy consumption and operating conditions on a near real-time basis. Servidyne will also help each of the customer’s 600 facilities take advantage of any special financial incentives that may be offered by their respective electric utility providers, and utilize the new controls systems being installed to enable the retailer to benefit from other potential value streams, including utility-sponsored demand response programs. Servidyne will also track the resulting reductions in greenhouse gas emissions and calculate other environmental benefits as part of this contract.

“Servidyne currently is involved in similar pilot demonstration projects for other major customers, including manufacturers and retailers,” added Alan R. Abrams, Servidyne’s Chairman, President and Chief Executive Officer. “We hope to be able to expand those efforts into other large scale implementation programs in the future as well.”

About Servidyne

Established in 1925, Servidyne, Inc. is headquartered in Atlanta, Georgia, and operates globally through its wholly–owned subsidiaries. The Company provides comprehensive energy efficiency and demand response solutions, sustainability programs, and other products and services that significantly enhance the operating and financial performance of existing buildings. Servidyne enables its customers to cut energy consumption and realize immediate cost savings across their portfolios, while reducing greenhouse gas emissions and improving the comfort and satisfaction of their buildings’ occupants. The Company serves a broad range of markets in the United States and internationally, including owners and operators of corporate, commercial office, hospitality, gaming, retail, light industrial, distribution, healthcare, government, multi-family and education facilities, as well as energy services companies and public and private utilities. Servidyne also owns commercial income-producing properties in the Southeast. For more information, please visit www.servidyne.com or call 770-953-0304.

Certain statements contained or incorporated by reference in this press release, including without limitation, statements containing the words “believe,” “anticipate,” “estimate,” “expect,” “plan,” “project,” “forecast,” “should,” and words of similar import, are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements in this release include statements regarding the following matters: the Company’s expectations of starting its project work under the contract almost immediately and completing its work over the next twelve to twenty-four months; the expectation that the new strategic partnership between Servidyne and its customer will continue for an additional two to three years beyond the term of the initial contract, in a comprehensive effort by the customer to expand the energy efficiency program to all of its existing stores, as well as its new locations and its franchisees; the Company’s estimate that the customer’s investment will yield a return on investment in excess of 40%; and the Company’s hope of expanding other similar pilot demonstration programs for other major customers into large scale implementation programs in the near future. Forward-looking statements involve known and unknown risks, uncertainties and other matters which may cause the actual results, performance, or achievements of Servidyne, Inc. to be materially different from any future results, performance, or uncertainties expressed or implied by such forward-looking statements. Factors affecting forward-looking statements in this release include, without limitation, the factors identified under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended April 30, 2009, as updated from time to time in the Company’s Quarterly Reports on Form 10-Q. Servidyne, Inc. does not undertake to update these forward-looking statements.

Hyperdynamics (HDY) Reaches Agreement With Government of Guinea

SUGAR LAND, Texas, March 25 /PRNewswire-FirstCall/ — Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it and the Government of the Republic of Guinea have executed an amendment to the 2006 Production Sharing Contract (PSC).  The document was signed by the Guinean Minister of Mines and Geology, Mahmoud Thiam; the Minister of Finances and Economy, Kerfala Yansane; and Ray Leonard, Hyperdynamics’ President and Chief Executive Officer. A decree giving the Government’s formal agreement to the assignment of a 23% interest to Dana Petroleum in the PSC is being prepared and will be issued in the near future.

The amendment was entered into in accordance with the September 2009 Memorandum of Understanding (MOU) between Hyperdynamics and the Republic of Guinea that reaffirmed the Company’s PSC but which also required a review of the commercial terms to ensure that they were in line with international standards.

In addition to addressing the points raised in the MOU and clarifying certain elements of the PSC, the amendment included the following terms:

• The company will retain a contract area of approximately 24,000 sq km, 30% of the original concession area and will relinquish 25% of the retained contract area by September 30, 2013.
• In September 2010, the company will enter into the second exploration period which runs until September 2013 and may be extended to September 2016.  The work program to September 2013 is to acquire a minimum of 2000 sq km 3D seismic and drill an exploration well, to be spudded by end 2011, to a minimum depth of 2500m while that for the period from September 2013 to September 2016 is to drill one exploration well to a minimum depth of 2500m.
• The Republic of Guinea will be carried through to first production for its share of up to 15%, at which time the cost of that carry will be recovered out of 62.5% of the Republic of Guinea’s share of cost and profit oil.
• An annual training budget of $200,000 will be established for the benefit of Guinea oil industry personnel, and the companies will also pay an annual surface tax of $2.00 per square kilometer on its retained acreage.

“This agreement formally reconfirms that the PSC among the Republic of Guinea, Hyperdynamics and Dana Petroleum is in full force and effect.  The extra step of presentation, debate and approval of the amended PSC by the Council of Ministers prior to signing is further evidence of the open and transparent government being established in the Guinean transition to democracy. We believe that the terms of the PSC are both fair and equitable and aligned with international standards,” Leonard said.

“Detailed analysis of the recently completed 10,000 km 2D seismic program has allowed us to further focus on the most prospective areas. We believe that successful exploration and production will be a substantial contributor to the Guinean economy, while also creating a good return for our shareholders. We expect to begin work on a 3D seismic survey in the third quarter 2010 to identify potential well locations for initial drilling late next year,” Leonard concluded.

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, 2009. 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.

NIVS (NIV) Announces Full Year and Fourth Quarter 2009 Results

HUIZHOU, China, March 25 /PRNewswire-Asia-FirstCall/ — NIVS IntelliMedia Technology Group, Inc. (“NIVS” or the “Company”) (NYSE: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, announced today that net sales for the three months ended December 31, 2009, were $62.7 million compared to $42.6 million in the comparable prior year period, an increase of 47.2%. The increase in sales during the fourth quarter of 2009 compared to the fourth quarter of 2008 was attributed primarily to an increased demand for the Company’s intelligent audio and video products as a result of the economic recovery that began in China, and market expansion efforts. Net sales for the full year ended December 31, 2009 were $185.2 million, an increase of $41.6 million, or 29.0% compared to $143.6 million for the year ended December 31, 2008. The increase in revenue was also attributed primarily to the increased demand for and sales of the Company’s intelligent audio and video products, which the Company believes was the result of its market expansion efforts.

Income from operations during the fourth quarter 2009 was $12.5 million, an increase of $8.6 million or 220.5% compared to $3.9 million in the comparable prior year period. The increase in income from operations was attributable in part to the reversal of $2.7 million of bad debt charges in the fourth quarter. For the year ended December 31, 2009, the Company reported income from operations of $28.5 million, an increase of $10.0 million, or 54.1% from $18.5 million in the comparable prior year period.

Mr. Tianfu Li, NIVS’ Chairman and CEO, said, “I am delighted at our strong 2009 fourth quarter and full year performance and completing our first year of trading on the NYSE Amex. We acquired our U.S. listing during a challenging economic environment and succeeded in expanding our business within the Chinese domestic market as well as in international markets. We believe our 2009 performance provides a solid foundation from which to grow in 2010. Our management team is focused on achieving outstanding operational performance and the continuance of increasing shareholder value.”

During the fourth quarter of 2009, the Company reported net income of $11.0 million, or $0.28 per diluted share compared to $1.9 million, or $0.04 per diluted share, in the comparable period of 2008, an increase of $9.1 million. For the year ended December 31, 2009, the Company reported net income of $23.5 million, or $0.59 per diluted share, an increase of $10.5 million, or 80.8% from $13 million, or $0.41 per diluted share, in 2008.

Liquidity and Capital Resources

The Company had unrestricted cash and cash equivalents of approximately $5.9 million at December 31, 2009, compared with $0.5 million at December 31, 2008. In addition, the Company had approximately $4.8 million in restricted cash at December 31, 2009, as compared to $11.7 million at December 31, 2008. The Company had working capital of approximately $3.3 million at December 31, 2009 and a working capital deficit of $18.6 million at December 31, 2008.

The Company had short-term bank loans of approximately $51.7 million and $54.7 million as of December 31, 2009 and 2008, respectively.

During 2009, the Company spent $9.6 million on capital expenditures compared to $16.8 million in 2008. Depreciation and amortization was $5.9 million in 2009 compared to $4.9 million in 2008.

Business Outlook

For the remainder of 2010, the Company intends to continue its strong marketing and new product launch momentum, and remain focused on executing the goal of becoming China’s preeminent integrated consumer electronics company. The Company intends to further enhance its balance sheet by focusing on cutting operating costs and streamlining operating efficiencies. In addition, the Company will continue to focus on R&D and add to its product portfolio, such as 3G mobile handsets, for example. As demonstrated by the tripling of revenue year-over-year of the intelligent audio and visual products in the fourth quarter of 2009, the Company believes that its integration of solid technology, design, manufacturing, distribution, product and marketing continues to be well-received by its customers and end users.

The Company intends to sustain its strong growth across all its operating segments and remains confident about the business and growth of the AV consumer electronics industry, and believes that its integrated strengths should allow it to expand market share within its core market and help to capture opportunities in new markets, enabling the Company to deliver sustained strong financial results and greater share value.

About NIVS IntelliMedia Technology Group, Inc.

NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received “Most Popular Brand” distinction in China’s acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company’s intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting (“DVB”) set-top boxes, peripherals and more.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as “believes, expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company’s ability to remediate the significant deficiencies and/or material weakness(es) in its internal controls; the Company’s ability to effectively integrate the operations and management of acquisition targets, including Dongri; the Company’s entry into the mobile phone manufacturing business; the Company’s ability to timely deliver products; the Company’s ability to timely develop and market new products; the Company’s ability to continue to borrow and raise additional capital to fund its operations; the Company’s ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; fluctuations in the availability of raw materials and components needed for the Company’s products; protection of the Company’s intellectual property rights; and changes in the laws of the PRC that affect the Company’s operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements.

Investor Conference Call

The Company’s 2009 year-end earnings conference call will take place on Thursday, March 25, 2010, at 11:00 a.m. Eastern Time and will also be webcast over the internet.

To participate, callers should dial 800- 867-0938, callers dialing from China or Hong Kong should dial U.S. 1 -480-293-0647. Participants should ask for the “NIVS IntelliMedia Conference Call.”

A simultaneous webcast will also be available via http://w.on24.com/r.htm?e=199373&s=1&k=7FAA2EC2A3CC7CCB87A1899E1BEEE123

In addition, a replay of the conference call will be archived and available until April 25, 2010 at the following numbers: Domestic callers – 800-406-7325 or 303-590-3030, access code: 4263795. Callers from China or Hong Kong: U.S. 1-800-406-7325, access code 4263795.

    For more information, please contact:

    Company Contact:
     Jason Wong
     Vice President Investor Relations
     Tel:   +86-138-299-16919
     Email: jason@nivsgroup.com

    Investor Contact:
     United States & Canada
     BPC Financial Marketing
     John Baldissera
     Tel:   +1-800-368-1217

         NIVS INTELLIMEDIA TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEETS
                                (In US Dollars)

                                               December 31,       December 31,
                                                   2009               2008
    Assets
    Current Assets
    Cash and cash equivalents                   $5,916,224          $461,504
    Trade receivables, net                      33,228,955        20,364,356
    Inventories, net                             9,626,048        11,279,832
    Prepaid expenses, deposit and other
     receivables                                 8,641,448            81,690
    VAT refundable                                 869,202         1,094,090
    Restricted cash                              4,840,137        11,681,595
    Total current assets                        63,122,014        44,963,067
    Property, equipment and construction
     in progress, net                           58,409,374        56,331,487
    Advances to suppliers                       16,649,904        15,286,028
    Intangible assets, net                       2,295,244         2,343,383
    Total Assets                              $140,476,536      $118,923,965

    Liabilities and Shareholders' Equity
    Current Liabilities
    Accounts payable - trade                    $3,932,115        $2,020,363
    Accrued liabilities and other
     payable                                     1,485,577         1,441,922
    Wages payable                                  801,972           800,744
    Corporate tax payable                        1,372,117         2,744,518
    Various taxes payable                          494,678           470,860
    Customer deposits                                   --         1,393,171
    Short-term loans                            43,987,358        35,871,715
    Bank notes payable                           7,712,609        18,849,201
    Total current liabilities                   59,786,426        63,592,494
    Due to shareholder                                  --         7,842,780
    Total Liabilities                           59,786,426        71,435,274

    Shareholders' Equity
    NIVS IntelliMedia Technology Group,
     Inc.'s shareholders' equity
    Preferred stock, $0.0001 par value,
     10,000,000 shares authorized, 0
     shares issued and outstanding at
     December 31, 2009 and December 31,
     2008, respectively                                 --                --
    Common stock, $0.0001 par value,
     100,000,000 shares authorized,
     40,675,347 and 36,855,714 shares
     issued and outstanding at December
     31, 2009 and December 31, 2008,
     respectively                                    4,068             3,686
    Additional paid-in capital                  21,717,239        12,663,513
    Accumulated other comprehensive
     income                                      3,979,941         3,960,012
    Statutory reserve fund                       5,722,107         3,568,869
    Retained earnings (unrestricted)            47,497,211        26,193,371
    Total NIVS IntelliMedia Technology
    Group, Inc. Shareholders' Equity            78,920,566        46,389,451
    Noncontrolling interest                      1,769,544         1,099,240
    Total Shareholders' Equity                  80,690,110        47,488,691
    Total Liabilities & Shareholders'
     Equity                                   $140,476,536      $118,923,965

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

             NIVS INTELLIMEDIA TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                       CONSOLIDATED STATEMENTS OF INCOME
                                (In US Dollars)

                                            For the Year Ended
                            December 31,        December 31,      December 31,
                                   2009                2008             2007
    Revenues               $185,197,972        $143,630,679      $77,626,516
    Other Revenues              282,289             414,968          516,415
    Cost of Goods Sold     (142,416,067)       (109,762,476)     (58,864,342)
    Gross Profit             43,064,194          34,283,171       19,278,589

    Selling Expenses          6,761,597           5,376,083        3,269,414

    General and
     administrative
    Amortization                 78,665              68,788           62,175
    Depreciation                331,153             337,445          327,575
    Bad debts (recovery)     (2,745,003)          2,531,479          473,218
    Merger cost                      --           1,785,696               --
    Stock-based
     compensation                    --             765,000               --
    Other general and
     administrative           4,850,370           3,171,458        2,548,047
    Total general and
     administrative           2,515,185           8,659,866        3,411,015
    Research and
     development              5,314,781           1,737,323          373,472
    Total operating
     expenses                14,591,563          15,773,272        7,053,901
    Income from
     operations              28,472,631          18,509,899       12,224,688

    Other income
     (expenses)
    Government grant            575,870              31,713           28,138
    Write-down of
     inventory                       --            (131,837)        (105,106)
    Interest income                   6                  91          234,655)
    Interest expense         (1,566,976)         (2,208,051)      (1,791,490)
    Imputed interest                 --            (656,167)        (526,428)
    Sundry income
     (expense), net              11,407             (51,714)        (111,405)
    Total other
     income (expenses)         (979,693)         (3,015,965)      (2,271,636)

    Income before
     non-controlling
     interest and
     income taxes            27,492,938          15,493,934        9,953,052
    Income taxes             (3,406,230)         (2,031,031)      (1,268,963)
    Net income               24,086,708          13,462,903        8,684,089

    Net income
     attributable to
     the non-
     controlling
     interest                  (629,630)           (429,490)        (217,569)

    Net income
     attributable NIVS
     IntelliMedia
     Technology Group,
     Inc.                   $23,457,078         $13,033,413       $8,466,520

    Basic earnings
     per share - net
     income
     attributable to
     NIVS's common
     shareholders                 $0.59               $0.41            $0.31

    Weighted-average
     shares
     outstanding,
     Basic                   39,858,756          31,553,197       27,546,667

    Diluted earnings
     per share - net
     income
     attributable to
     NIVS's common
     shareholders                 $0.59               $0.41            $0.31

    Weighted-average
     shares
     outstanding,
     Diluted                 39,858,756          31,967,040       27,546,667

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

            NIVS INTELLIMEDIA TECHNOLOGY GROUP, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (In US Dollars)

                                          For the Year Ended
                                              December 31,
                               2009               2008               2007
    Cash Flows From
     Operating
     Activities

    Net income             $24,086,708        $13,462,903         $8,684,089
    Adjustments to
     reconcile net
     income to net
     cash provided by
     operating
     activities:

    Imputed interest                --            656,167            526,428
    Bad debt expense
    (recovery)              (2,745,003)         2,531,479            473,218
    Depreciation
     expense                 5,850,550          4,887,386          1,169,319
    Amortization
     expense                    78,665             68,788             62,175
    Stock-based
     compensation                   --            765,000                 --
    Write-down of
     inventory                      --            131,837            105,106
    Changes in
     operating assets
     and liabilities:
    Trade receivables      (10,117,126)       (18,385,002)        (4,838,184)
    Advances to
     suppliers                 350,934          1,318,827        (13,640,207)
    Prepaid expenses
     and deposits                   --            (63,105)            38,265
    Inventories, net         1,655,152          6,067,538        (15,908,385)
    VAT refundable             225,021         (1,094,090)                --
    Accounts payable,
     accrued
     liabilities and
     customer deposits         561,647        (12,650,271)        12,402,518
    Various taxes
     payable                    23,761            283,149           (315,905)
    Wages payable                1,131            192,522            436,329
    Corporate tax
     payable                (1,372,734)         1,018,753          1,092,944
    Net cash
     provided by
     (used in)
     operating
     activities             18,598,706           (808,119)        (9,712,290)

    Cash Flows From
     Investing
     Activities
    Restricted cash          6,842,875         (9,698,348)          (276,104)
    Deposits for
     Dongri
     Acquisition            (8,559,748)                --                 --
    Purchases of
     property, plant
     and equipment          (5,232,911)       (15,326,949)       (15,297,640)
    Payments made for
     construction in
     progress               (4,405,199)        (1,480,627)                --
    Purchases of
     intangible assets         (31,605)           (28,830)                --
    Due from related
     parties                        --          2,213,370          4,801,648
    Short-term
     investment,
     marketable
     securities                     --                 --               (650)
    Net cash used in
     investing
     activities            (11,386,588)       (24,321,384)       (10,772,746)

    Cash Flows From
     Financing
     Activities
    Net borrowing
     from bank loans
     payable                 8,111,292          3,230,239         15,985,886
    Net borrowing
     (repayment) in
     bank notes
     payable               (11,138,878)        12,744,638           (145,438)
    Capital lease
     payable                        --                 --            (61,669)
    Net proceeds of
     share issuances         1,212,382         10,487,474                 --
    Due to
     shareholder                    --         (3,165,990)         4,916,614
    Net cash
     provided by
     (used in)
     financing
     activities             (1,815,204)        23,296,361         20,695,393
    Effect of
     exchange rate
     changes on cash            57,806            855,995            668,904
    Net increase in
     cash and cash
     equivalents             5,454,720           (977,147)           879,261

    Cash and cash
     equivalents,
     beginning of
     period                    461,504          1,438,651            559,390
    Cash and cash
     equivalents, end
     of period              $5,916,224           $461,504         $1,438,651

    Supplemental
     disclosure
     information:
    Interest expense
     paid                   $1,706,762         $2,208,051         $1,791,490
    Income taxes paid       $4,773,839         $2,031,031         $1,268,963

    Non cash
     investing and
     financing
     activities:
    Exchange of
     investment for
     equipment                     $--                $--        $12,824,623
    Conversion of Li
     debt to common
     stock                  $7,841,726                $--                $--

ADA-ES (ADES) Reports Fourth Quarter and Year End 2009 Results

Mar. 25, 2010 (Business Wire) — ADA-ES, Inc. (NASDAQ:ADES) today announced financial results for the fourth quarter and year ended December 31, 2009, and provided an update on various corporate developments.

Overview of Fourth Quarter Results & Initial Revenues from Refined Coal Business

In the fourth quarter, total revenues nearly doubled to $6.6 million, due in large part to the Company recognizing its first revenues associated with its Refined Coal business, as well as a 23% increase in sales of Activated Carbon Injection (“ACI”) systems in its Mercury Emission Control (“MEC”) segment.

In December 2009, ADA’s 50/50 joint venture with NexGen – Clean Coal Solutions, LLC (“CCS”) – installed and commenced operations of two CyClean systems that are designed to produce a total of 6.5 million tons of Refined Coal per year, meeting the year-end placed-in-service requirements for the Section 45 Tax Credits. The CyClean systems generated revenues of $2.4 million for ADA-ES in the fourth quarter from the sale of approximately 76,800 tons of Refined Coal. Section 45 IRS Tax Credits amount to $6.20 per ton for a period of ten years.

Dr. Michael D. Durham, President and CEO of ADA-ES, stated, “Currently, CCS is preparing the CyClean systems for efficient full-time operation, finalizing contracts with the host utility, and negotiating long-term agreements with monetizers. We expect to begin producing Refined Coal on a continuous basis towards the end of the second quarter, and anticipate the equipment sales and tax credits from these two systems to contribute average after tax net cash flow for Clean Coal of an estimated $9 million per year for up to ten years.” Of note, NexGen must pay ADA 60% of its share of cash flow up to $4 million, to retain its 50% ownership in the JV.

During the fourth quarter, minimal margins were realized on sales of Refined Coal during testing, which were essentially sold at cost. As a result, gross margin was 16% for the quarter, compared to 26% in the prior year period. General and administrative expenses declined to $3.3 million from $4.6 million in the fourth quarter of 2008, primarily due to lower fees associated with litigation and contract negotiations. The Company reported an operating loss of $2.5 million, compared to an operating loss of $5.6 million in the fourth quarter of 2008, and a net loss of $1.3 million, or $0.18 per diluted share, compared to a net loss of $3.6 million, or $0.54 per diluted share, in the 2008 fourth quarter.

Overview of Full Year 2009 Results

For 2009, total revenues rose 24% to $20.1 million. Gross margin was 31%, compared to 33% in 2008. The Company achieved improved margins associated with ACI system sales due to ADA’s newly designed equipment that simplifies field installation and reduces system costs, and also realized improved efficiencies in DOE and other consulting work. These improvements were offset by the aforementioned minimal margins from Refined Coal sales made during testing. ADA incurred higher legal costs during the year associated with previously disclosed litigation, and reported an operating loss of $11.8 million in 2009, compared to $6.7 million in 2008, and a net loss of $8.8 million or $1.26 per share, versus a net loss of $4.1 million or $0.67 per share in 2008.

ACI Systems Update

Dr. Durham further stated, “We remain focused on expanding our MEC segment through the sale of our ACI systems, and have installed or are in the process of installing 46 systems, including the 10 contracts secured during 2009. Past contract wins have been primarily in 19 states and Canadian provinces. In 2009, we saw several positive steps taken by regulatory officials to implement industry changes in pollutant control that we believe will be drivers of additional sales over the next several years of both ACI systems and the associated activated carbon (“AC”).

ADA Carbon Solutions Business Update

ADA Carbon Solutions (“ADA-CS”), the Company’s joint venture with Energy Capital Partners I, LP and its affiliated funds (“ECP”), has nearly completed construction of its new AC production facility in Red River Parish, Louisiana. Construction has remained on budget, and the plant is scheduled to begin commercial operation this May. To date, ADA-CS has signed AC supply contracts valued at more than $200 million, including two contracts in Canada. Over one-third of the nameplate capacity for the manufacturing plant has been booked for the first five years of production.

Funding of construction, which approximates $250 million to date, continues with interim financing by ECP. In December, ADA-CS’ wholly owned-subsidiary, Red River Environmental Products, was offered a $245 million conditional commitment for a loan guarantee by the U.S. Department of Energy (“DOE”) under Title XVII of the Energy Policy Act of 2005, to be used to finance the construction of the facility. Closing of the loan guarantee is subject to DOE’s completion of due diligence and other customary closing conditions. ADA-ES expects to have a minority interest in the first production line, with rights to own up to 50% of additional lines, which it believes will be necessary to meet demand if a Federal mercury control regulation is enacted.

The Company noted that it has terminated the Securities Purchase Agreement (“SPA”) with ECP whereby ECP had the right to purchase 3.6 million convertible preferred shares of ADA-ES at an average price of $6.30 per share as a mechanism to provide additional equity funding for the AC plant through ADA. In light of ECP’s direct funding of the joint venture and positive recent developments that are capable of producing significant near-term increases in revenues and earnings for ADA, ADA’s Board determined that the $6.30 share price was not a fair reflection of the current value of the Company. Having terminated the SPA, the Company intends to implement plans to raise equity at a higher price to fund growth opportunities such as AC production, CyClean, and expanded ACI capacity.

Conclusion

Dr. Durham further stated, “We are extremely proud of our 2009 key accomplishments, which include: 1) meeting the year-end placed-in-service requirements for the Section 45 Tax Credits for Refined Coal; 2) making significant progress on the construction of ADA-CS’ AC plant; 3) shipping the first batches of treated AC from ADA-CS’ interim facility; 4) securing eight AC contracts representing one-third of the ADA-CS plant’s capacity; and 5) receiving a contingent commitment for a DOE loan to finance the construction of the AC plant.

“One of our primary areas of focus for the remainder of 2010 will be our Refined Coal business. Getting the first two systems operating on a continuous basis will provide a significant increase in revenues and operating income for the company. In addition, there is a possibility of growing this business well beyond these initial systems. The Senate recently passed a second Jobs Bill that includes a number of tax extenders, including a one-year extension for Section 45 Refined Coal. This extension, if put into law, would provide us the opportunity to expand this business further through additional potential customers that we have identified as viable candidates for this technology. With two systems already installed that qualify for the credits, and the possibility of an extension on future systems, we see a substantial opportunity for ADA in this area.”

In closing, Dr. Durham commented, “We are very pleased with the advances we have made in our clean coal technology businesses and are enthusiastic about ADA’s long-term prospects as a market leader in pollutant control. We look forward to the launch of ADA-CS’ AC manufacturing facility in May, and the expected growth within our Refined Coal business.”

Conference Call

Management will conduct a conference call focusing on the financial results and recent developments at 10:00 AM ET on Thursday, March 25, 2010. Interested parties may participate in the call by dialing 706-679-3200. Please call in 10 minutes before the call is scheduled to begin, and ask for the ADES call (conference ID # 55894960). The conference call will also be webcast live via the Investor Information section of ADA’s website at www.adaes.com. Additionally, a slide presentation which will accompany the call will be posted at www.adaes.com on the Investor Information section and will remain available after the call. To listen to the live call please go the website at least 15 minutes early to register, download and install any necessary audio software. If you are unable to listen live, the conference call will be archived on the website.

About ADA-ES

ADA-ES is a leader in clean coal technology and the associated specialty chemicals. The Company develops and implements proprietary environmental technology and specialty chemicals that enable coal-fueled power plants to enhance existing air pollution control equipment, maximize capacity and improve operating efficiencies. Through its largest segment, Mercury Emission Control, ADA-ES supplies activated carbon injection systems, mercury measurement instrumentation, and related services. To meet the needs of the power industry for mercury control, a joint venture of ADA-ES, ADA-CS, is developing state-of-the-art facilities to produce AC with the first plant projected to come on-line in 2010. In addition, ADA-ES, through its Clean Coal Solutions joint venture, provides its patented refined coal technology, CyClean, to utilities to enhance combustion of and reduce emissions from Powder River Basin coals in cyclone boilers. ADA-ES is also developing technologies for power plants to address issues related to the emissions of carbon dioxide. For more information, visit: www.adaes.com.

This press release and the conference call referenced in this press release contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, which provides a “safe harbor” for such statements in certain circumstances. These statements are or will be based on current expectations, estimates, forecasts, projections, beliefs and assumptions of our management. Actual results may vary materially from such expectations. These statements are or will be prefaced by words or phrases such as “believe,” “will,” “hope,” “expect,” “anticipate,” “intend” and “plan,” the negative expressions of such words, or words of similar meaning, and these statements include, but are not limited to, our expectations regarding the expected full-time operation date for the CyClean systems owned by Clean Coal Solutions including the expected date for production of refined coal on a continuous basis; amount of operating income potential generated by the CyClean systems owned by Clean Coal Solutions; our ability to expand our MEC segment through the sale of our ACI systems; the effect on our business of regulatory actions relating to pollutant control; the ability of ADA-CS to complete construction of its new AC production facility on time and on budget; the ability of ADA-CS to secure AC supply contracts and finalize the DOE loan; our ability to maintain a minority interest in the first, and a larger interest in additional, production lines owned by ADA-CS; our ability to raise equity at a higher price than that reflected by the ECP securities purchase agreement or at all; whether Section 45 tax credits for refined coal will be extended by Congress; whether we will be able to obtain additional customers; as well as other similar items. Such statements involve significant risks and uncertainties. Actual events or results could differ materially from those discussed in the forward-looking statements as a result of various factors including, but not limited to: changes in laws and regulations, government funding, prices, economic conditions and market demand; impact of competition and litigation; lack of working capital; availability, cost of and demand for alternative energy sources and other technologies; operational difficulties; risks related to ADA-CS such as changes in the costs and timing of construction of the AC plant, failure to raise additional financing or satisfy conditions in existing agreements, actions of our joint venture partner and inability to sign or close acceptable coal supply and off-take agreements in a timely manner; failure of Clean Coal to qualify its product for Section 45 tax credits or to place qualified facilities by the IRS deadlines; availability of raw materials and equipment for our businesses; loss of key personnel; as well as other factors relating to our business, as discussed in our filings with the U.S. Securities and Exchange Commission, with particular emphasis on the section entitled “Risk Factors” in our annual report on Form 10-K and disclosures contained in those filings. You are cautioned not to place undue reliance on the forward-looking statements made in this release, and to consult filings we make with the SEC for additional discussion concerning risks and uncertainties that may apply to our business and the ownership of our securities. The forward-looking statements contained in this press release are presented as of the date hereof, and we disclaim any duty to update such statements unless required by law to do so.

ADA Carbon Solutions, which was included as a subsidiary as of December 31, 2008, was deconsolidated during the year ended December 31, 2009. See notes accompanying ADA-ES’ consolidated financial statements in its Form 10-K for the fiscal year ended December 31, 2009.