Tri-Tech Holding (TRIT) Full Year 2009 Revenue Up 99% to $16.8M

BEIJING, March 25 /PRNewswire-Asia-FirstCall/ — Tri-Tech Holding Inc. (Nasdaq: TRIT), a leading Chinese project development and management company that engineers, manages and monitors China’s municipal sewer systems, natural waterways and resources, announced today that revenue for the fiscal year ended December 31, 2009 increased 99% to $16.8 million from $8.4 million in 2008. Diluted earnings per share for the year were $0.92 based on net income of $3.8 million. This compares with net income of $1.7 million or $0.48 diluted EPS in 2008.

    Fourth Quarter 2009 Highlights
    -- Revenue for Q4 2009 increased 103% to $5.9 million from $2.9 million in
       Q4 2008.
    -- Gross profit (exclusive of depreciation and amortization) increased
       190% to $2.3 million for Q4 2009 from $0.8 million in Q4 2008.
    -- Q4 2009 gross margin 38% vs. 27% for Q4 2008.
    -- Income from operations increased 117% to $1.1 million from $0.5 million
       in Q3 2008.
    -- Net income increased 212% to $1.3 million from $0.4 million in Q4 2008.
    -- Diluted earnings per share increased to $0.24, from $0.12 in Q4 2008.
    -- Weighted average number of diluted shares outstanding was 5.54 million
       as of December 31, 2009, compared to 3.56 million as of December 31,
       2008.

    FY 2009 Highlights
    -- Revenue for 2009 increased 99% to $16.8 million from $8.4 million in
       2008.
    -- Wastewater and Tail Gas Treatment segment revenue increased 80% to
       $9.0 million.
    -- Water Resource Management segment revenue was up 125% to $7.8 million.
    -- Gross profit (exclusive of depreciation and amortization) increased
       112% to $6.6 million for 2009 from $3.1 million in 2008.
    -- 2009 gross margin 39% vs. 37% for 2008.
    -- Income from operations increased 126% to $4.1 million from $1.8 million
       in 2008.
    -- Net income increased 127% to $3.8 million from $1.7 million in 2008.
    -- Diluted earnings per share increased to $0.92 from $0.48 in 2008.
    -- Weighted average number of diluted shares outstanding was 4.17 million
       as of December 31, 2009, compared to 3.56 million as of December 31,
       2008.
    -- Completed successful initial public offering of 1.7 million ordinary
       shares at a price of $6.75 per share, traded on NASDAQ Capital Market
       on September 10, 2009.

FY 2009 Financial Performance

Total revenue was $16.8 million in 2009, an increase of $8.3 million, or 99%, compared to revenue of $8.4 million in 2008. The increase was driven by larger contracts, several of which exceeded $1.5 million. The revenue was primarily generated by system integration work and hardware and software sales from two operating segments. For wastewater and tail gas treatment, revenue was $9 million, an increase of $4 million or 80%, compared to $5 million in year 2008. Revenue from water resources management saw a 125% significant increase to $7.8 million from $3.5 million in 2008.

Net income

Net income attributable to shareholders was $3.8 million, an increase of $2.2 million or 127%, compared to $1.7 million in year 2008.

Diluted earnings per share for the year were $0.92 based on net income of $3.8 million. This compares with net income of $1.7 million or $0.48 diluted EPS in 2008.

Gross profit (exclusive of depreciation and amortization)

Gross profit (exclusive of depreciation and amortization) increased 112% to $6.6 million for 2009 from $3.1 million in 2008. Of total revenue, cost (exclusive of depreciation and amortization) decreased to 61%, compared with 63% in 2008, because the company sourced more locally made equipment at lower cost for the projects. Gross margin (exclusive of depreciation and amortization) for 2009 was 39%, compared to 37% for 2008.

During 2009, significant Chinese government spending along with tight construction timelines, and strong market demand resulted in high market value for construction projects. Under such business climate, Tri-Tech enjoyed rapid growth in revenue while limited cost of that revenue.

Operating income

Operating income increased 126% to $4.1 million from $1.8 million in 2008. Operating margin was 24%, compared to 21% in the year ended December 31 2008.

Liquidity and Capital Resources

As of December 31, 2009, cash and cash equivalents were $7.2 million, including a deposit of $3.3 million. As of December 31, 2009, working capital was $17 million, including cash and cash equivalents of $7.2 million.

Order Backlog

As of December 31, 2009, the company had a total backlog of $11.5 million to be collected in 2010, including $9.3 million in municipal water and wastewater services, $1.5 million in water resources services and $0.7 million in industrial sector services. The backlog represents the amount of our existing contract work remaining to be completed in 2010 for which we have not been paid in full, based on the assumptions that our customers will approve these projects upon completion.

Management Comment

Chief Executive Officer Warren Zhao said, “We are pleased with the financial results in our first year as a publicly-traded company. The strong growth in our two business segments has highlighted the strength of our business model, which we believe will continue to get stronger as we work to help alleviate China’s critical water resource crisis.

“We are currently pursuing smaller river basin flood monitoring and forecasting systems and groundwater monitoring systems across the country. In 2009, we received awards for five projects for smaller river basin flood and forecasting systems.

“Through local distributors and partnerships, we are promoting our proprietary products targeting the water monitoring and dispatching systems of the Northward Rerouting of Southern River engineering construction. We believe that the entire Northward Rerouting of Southern River engineering project has a market potential of approximately $43.5 million.

“In 2009, the Chinese government launched the 103 Pilot-County Mountain Torrent Forecast Plan. Accordingly, the government allocated approximately $29 million to fund these projects to deal with frequent mountain torrents devastation. During the year, we won the bids for 14 of these pilot projects, which was in line with our internal expectations on the bid win rate.

“At present, our wastewater treatment business is focused on Tianjin City and Hebei Province. In 2009, we won 26 contracts from this targeted wastewater treatment market, including pump stations, treatment plants, odor control systems, automatic controls and instruments.

“We are actively pursuing opportunities in the industrial wastewater and process tail gas treatment markets in the oil and gas industry and the petrochemical industry such as SINOPEC and PetroChina. Additionally, we intend to strengthen our industrial pollution control services by penetrating adjacent industry verticals such as the power generation industry.

“Currently almost all newly-designed sewage treatment plants have odorous gas containment and control requirements. Therefore, we expect an increase in the sales of our proprietary bio-filtration odor control systems.

“In order to pursue several major new projects and increase our interaction with our clients, we recently set up branch offices in Tianjin Dongli Economic Development Zone, Tianjin Baodi Economic Development Zone and Hebei Province.

“In our municipal wastewater business, we plan to expand our target market. In our current business footprint in only Hebei and Tianjin, the government is building 80 new wastewater treatment plants. We believe significant opportunities exist in 32 other provinces, municipalities and autonomous regions in China.

“We intend to expand our role from sub-contractor to prime-contractor. Since inception, we have grown from a provider of system controls to a company capable of managing the whole installation of municipal water and wastewater facilities. As we continue to grow, we will focus our business on more complex installation projects.

“We also intend to further develop our water resource management services from partial management solutions to full management of large-scale river basin projects. We believe the Chinese government’s allocation of significant investment offers us huge business opportunities.

“In addition to organic growth, we are targeting selected acquisitions. In general, our markets are highly fragmented with small competitors. We will consider acquiring companies that we believe will add significant value to our business. These targets may have strong customer relationships but limited market reach, or may possess specialized skills but the businesses have not scaled up. When evaluating targets, we use a disciplined, conservative approach to ensure the acquisitions are strategic and accretive,” Zhao said.

About Tri-Tech Holding Inc.

Tri-Tech designs customized sewage treatment and odor control systems for China’s municipalities and its larger cities. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the government in managing its water resources. Tri-Tech owns seven software copyrights and two technological patents and employs 120 people. Please visit http://www.Tri-Tech.cn for more information.

An online investor kit including a company profile, press releases, current price quotes, stock charts and other valuable information for investors is available at http://www.hawkassociates.com/profile/trit.cfm . To subscribe to future releases via e-mail alert, visit http://www.hawkassociates.com/about/alert/ .

Tri-Tech Holding Inc. has based these forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward- looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

    For further information, please contact:

    Hawk Associates
     Susan Zhou
     Tel:   +1-305-451-1888
     Email: tritech@hawkassociates.com

                           TRI-TECH HOLDING INC.
    CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
                                  AUDITED

                                    For the Year Ended      Quarter Ended
                                      December 31,           December 31,
                                     2009       2008       2009       2008
                                             (Restated)
    Revenues:
    System integration           $12,023,686 $6,119,266 $4,499,924 $1,410,327
    Products                       2,511,962  1,115,811    633,914  1,051,322
    Software revenue               2,264,246  1,214,881    760,887    436,943
    Total revenues                16,799,895  8,449,958  5,894,726  2,898,592
    Cost of revenues: (exclusive
     of depreciation and
     amortization shown
     separately below)
    System integration             8,003,667  4,219,892  3,095,900  1,058,291
    Products                       2,115,052  1,036,401    528,438  1,000,909
    Cost of software                  57,207     65,947     15,143     62,012
    Total cost of
     revenues(exclusive of
     depreciation and
     amortization shown
     separately below)            10,175,925  5,322,240  3,639,482  2,121,212
    Operating expenses:
    Depreciation and amortization
     expenses                        119,173     88,731     43,724     29,009
    Other operating expenses       2,448,721  1,242,415  1,078,606    227,350
    Total operating expenses       2,567,894  1,331,146  1,122,330    256,359
    Operating income (loss):       4,056,076  1,796,572  1,132,914    521,021
    Other income (expenses):
     Interest income                  26,855     17,475      1,729        931
     Interest expense                 (5,683)    (7,833)    (1,510)    (5,444)
     Government allowance            107,380    102,644     58,338     37,401
     Other expense                    (7,592)    (1,774)    (2,899)      (483)
    Total other income
     (expenses), net                 120,961    110,512     55,660     32,404
    Income before provision for
     income taxes and
     noncontrolling interests
     income                        4,177,037  1,907,084  1,188,574    553,425
    Provision for income taxes      (308,085)  (202,247)  (758,550)  (141,771)
    Net income                     3,868,952  1,704,837  1,330,955    411,654
    Noncontrolling Interests
     Income                           18,182      8,685      5,730    (13,525)
    Net income attributable to
     Tri-Tech Holding Inc          3,850,770  1,696,152  1,325,225    425,179
    Other comprehensive income
    Foreign currency translation
     adjustment                       15,899    259,708    (51,216)   (46,834)
    Comprehensive income           3,884,851  1,964,545  1,279,739    378,345
    Comprehensive income
     attributable to
     noncontrolling interests         18,312     17,211      5,155     17,211
    Comprehensive income
     attributable to Tri-Tech
     Holding Inc.                  3,866,538  1,947,334  1,274,584    361,134
    Net income attributable to
     Tri-Tech Holding Inc. per
     share:
    Basic                              $0.94      $0.48      $0.25      $0.12
    Diluted                            $0.92      $0.48      $0.24      $0.12
    Shares used in computation:
    Basic                          4,081,301  3,555,000  5,255,000  3,555,000
    Diluted                        4,170,879  3,555,000  5,544,343  3,555,000

                                  TRI-TECH HOLDING INC.
                              CONSOLIDATED BALANCE SHEETS

                                                December 31,      December 31,
                                                    2009              2008
                                                                    (Restated)
    ASSETS
    Current Assets
    Cash                                         $7,171,464          $732,418
    Restricted cash                               1,501,128                --
    Accounts receivable, net of allowance
     for doubtful accounts of $56,491 and
     $62,286 as of December 31, 2009 and
     December 31, 2008, respectively              4,338,239         3,105,859
    Unbilled revenue                              3,952,763         1,429,846
    Notes receivable                                     --             7,316
    Other receivables                               273,602           166,395
    Inventories                                   1,573,324         1,466,468
    Deposits on projects                            585,153           266,973
    Prepayments to suppliers and
     subcontractors                               1,898,900           567,346
    Total current assets                         21,294,573         7,742,621
    Long-term unbilled revenue                    1,723,852                --
    Plant and equipment, net                        374,009           174,128
    Proprietary technology, net                     797,854           857,475
     Total assets                               $24,190,288        $8,774,224
    LIABILITIES AND SHAREHOLDERS' EQUITY
    Current liabilities
    Accounts payable and cost accrual on
     projects                                    $3,367,056        $1,589,103
    Commercial paper and other short-term
     notes payable
     Non-related parties                                 --           271,041
     Related party                                       --            14,631
    Customer deposits                               494,047           436,372
    Billings in excess of revenue                     8,650            30,639
    Other payables                                    8,633            81,721
    Accrued liabilities                             103,190            84,660
    Deferred income taxes                           141,478            83,643
    Income taxes payable                            144,232           141,818
    Other taxes payable                                  --            90,908
    Total current liabilities                     4,267,286         2,824,536
    Long-term liabilities                            58,171                --
     Total liabilities                            4,325,457         2,824,536
    Shareholders' equity
    Tri-Tech Holding Inc. shareholders'
     equity
     Common stock (30,000,000 shares
      authorized and $0.001 par value,
      5,255,000 and 3,555,000 issued as of
      December 31, 2009 and 2008,
      respectively; on December 31, 2009,
      340,000 shares issued were held in
      escrow. See note 12 for more
      discussion.)                                    5,255             3,555
    Additional paid-in-capital                   12,942,650         2,914,058
    Statutory reserves                               50,655            50,655
    Retained earnings                             6,333,343         2,482,573
    Accumulated other comprehensive
     income                                         377,097           361,328
    Total Tri-Tech Holding Inc.
     shareholders' equity                        19,709,000         5,812,169
    Noncontrolling Interests                        155,831           137,519
    Total shareholders' equity                   19,864,831         5,949,688
    Total liabilities and shareholders'
     equity                                     $24,190,288        $8,774,224

                                    TRI-TECH HOLDING INC.
                          CONSOLIDATED STATEMENTS OF CASH FLOWS

                                              For The Year Ended December 31,
                                                   2009        2008(Restated)
    Cash flows from operating activities:
    Net income                                  $3,868,952        $1,704,838
    Adjustments to reconcile net income
     to cash:
    Depreciation                                    59,244            30,892
    Amortization                                    60,588            57,839
    Allowance for doubtful accounts                  1,322            22,935
    Deferred income taxes                           66,061            74,429
    Changes in operating assets and
     liabilities:
    Restricted cash                             (1,500,534)               --
    Accounts receivable                         (1,230,305)       (1,528,876)
    Unbilled revenue                            (4,243,749)         (360,048)
    Other receivables                             (424,813)         (104,235)
    Inventories                                   (161,817)         (330,918)
    Prepayments and deferred expenses           (1,315,244)         (163,280)
    Accounts payable                             1,761,867           145,002
    Customer deposits                               57,244            (5,286)
    Billings in excess of revenue                  (22,009)               --
    Other payables                                 218,941           112,280
    Accrued liabilities                             18,443                --
    Taxes payable                                 (140,036)          (48,606)
    Net cash provided by operating
     activities                                 (2,925,845)         (393,034)
    Cash flows from investing activities:
    Additions to equipment                        (197,087)          (91,351)
    Cash flows from financing activities:
    Common stock                                10,105,170                --
    (Repayments to)advances from third
     parties                                      (278,507)          678,485
    Repayment from a related party of an
     advance                                            --            (4,750)
    Net cash provided by (used in)
     financing activities                        9,826,663           673,735
    Effect of exchange rate changes on
     cash and cash equivalents                    (264,685)          175,355
    Net increase in cash                         6,439,046           364,705
    Cash, beginning of year                        732,418           367,713
    Cash, end of period                         $7,171,464          $732,418
    Supplemental Data:
    Income taxes paid                             $239,743               $--
    Interest paid on debt                           $4,538            $7,832
    Borrow money from third party, using
     in purchase transportation equipment
     on April 2009.                                $87,221               $--

GigOptix (GGOX) Moves 40Gb/s and 100Gb/s Polymer Modulators to Production

Mar. 24, 2010 (Business Wire) — GigOptix, Inc. (OTCBB:GGOX), disclosed this week the company’s progressive plans to commercialize its proprietary polymer based modulator for all 40Gb/s and 100Gb/s modulation formats during 2010. The company has partnered with Sanmina-SCI (Nasdaq NM: SANM) to contract manufacture the modulators.

Over the last year, since the acquisition of Lumera by GigOptix, the company’s Bothell, Washington based LX Product Line group has made unparalleled developments in polymer material thermal–related electro-optical and mechanical stability; enabling the first-ever achievement of the required 85C, 25 years electro-optical stability of the polymer-coated silicon modulator chip. The design rules that were deployed allow the smallest overall modulator foot print for all speeds and formats.

The GigOptix LX modulators use standard semiconductor production flows and industry standard modulator package assembly technology, allowing for a smooth transfer of the product to a mass production partner like Sanmina-SCI.

The company announced that the first Telcordia qualified volume production of 40Gb/s and 100Gb/s DPSK modulators, will be available in the fourth quarter of 2010. Engineering samples of 40Gb/s DQPSK and 100Gb/s DP-QPSK modulators will be also be available in the fourth quarter of 2010, with Telcordia qualified volume production available in the first quarter of 2011.

Dr. Raluca Dinu, Vice President and General Manager of GigOptix LX Modulator business will present the company’s modulator program and roadmap, tomorrow, March 25, 2010, at OFC/NFOC in San Diego, California, with special emphasize on the following aspects:

• GigOptix’s electro-optic polymer is now meeting the telecom industry reliability standards of stable operation for 25 years at the temperature of 85C. The polymer itself upholds structural integrity up to 240C.
• The technology is inherently low cost and physically robust. Being built as a layer of only a few microns on top of standard silicon wafer it can leverage standard high volume silicon manufacturing techniques. The advantages of GigOptix’s optical polymer material makes the company’s modulators dramatically smaller and faster than the current industry Lithium Niobate and much faster and more robust than InP based solutions.
• The manufacturing agreement with Sanmina-SCI, announced this week, will bring a world class packaging capability to ensure that the company’s modulators will be competitively priced.
• Unlike Lithium Niobate and InP, the material properties of the polymer enable the production of 10G, 40G and 100G modulator chips at the same small footprint, hence the overall modulator package to be a similar size for all speeds and formats.

Pushing the speed barrier beyond what is possible with other technologies, GigOptix is collaborating with partners on a “beyond 100Gb/s” modulator demonstration which may be a viable option for enhancing network capacity. For more information, CLICK HERE for Dr. Dinu’s presentation, or visit Presentations & Webcast under the Investor Tab at www.gigoptix.com.

About GigOptix, Inc.

GigOptix is a leading fabless manufacturer of electronic engines for the optically connected digital world. The Company offers a broad portfolio of high speed electronic devices including polymer electro-optic modulators, modulator drivers, laser drivers and TIAs for telecom, datacom, Infiniband and consumer optical systems, covering serial and parallel communication technologies from 1G to 120G. For more information, please visit www.GigOptix.com.

Forward Looking Statements

Statements made in this release, other than statements of historical fact, are forward-looking statements, including any statement that refers to expectations, projections or other characterizations of future events or circumstances and those which can be identified by the use of forward-looking terminology such as “expects,” “plans,” “may,” “should,” or “anticipates” and other similar expressions. Forward-looking statements are subject to a number of known and unknown risks, which might cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include whether the appropriations bill will receive legislative approval and ultimately become law, whether GigOptix will receive any funding, whether the modulator developed by GigOptix will be used by the Air Force, and those risks described in GigOptix’s periodic reports filed with the SEC, and in news releases and other communications. GigOptix disclaims any intention or duty to update any forward-looking statements made in this release.

China Recycling Energy Corp (CREG) Debuts on Nasdaq market

BEIJING, Mar. 24, 2010 (Xinhua News Agency) — China Recycling Energy Corporation (CREG.OB; CREG.Nasdaq), a leading industrial waste-to-energy solution provider in China, announced the listing of its common stock on the Nasdaq market on Monday.

The company, based in Xi’an of northwestern China’s Shaanxi province, was established in 2003. It provides environmentally friendly waste-to-energy technologies to recycle industrial byproducts for steel mills, cement factories, and coke plants in China.

The company began trading on the U.S. OTCBB market through a reverse takeover in 2007. In November 2007, it had an investment of 25 million US dollars from the US-based Carlyle Group.

Wu Zhonggang, deputy general manager of China Recycling Energy Corp. (NASDAQ:CREG) , said that the listing on Nasdaq would help the company with international competition, further financing and technological development. (Edited by Gao Li, gaoli08@xinhua.org)

Latest Study Reveals Celsius (CELH) Plus Moderate Exercise Significantly Reduces Fat

DELRAY BEACH, FL — (Marketwire) — 03/24/10 — Celsius Holdings, Inc. (NASDAQ: CELH) today released the results of the latest clinical study showing Celsius® significantly reduces body fat when consumed prior to moderate exercise. This sixth clinical study is part of the ongoing research studies that continue to reveal the benefits of Celsius’ MetaPlus® formula. Multiple studies show that Celsius burns calories and provides lasting energy. This latest study finds that Celsius®, when consumed fifteen minutes prior to exercise, helps reduce body fat and build lean muscle as compared to exercise alone.

Irina Lorenzi, Vice President of Innovation and Marketing, says, “Drinking Celsius prior to exercise helps our customers get fit faster and stay fit. With the outstanding results of this study, we are launching our new campaign, UltimateFitnessPartner.com. This interactive online community will offer coupons, the ability to register for the Ultimate Workout Challenge to win exciting rewards and prizes, and a place for fitness enthusiasts and trainers to share their Ultimate Workout secrets. This campaign is a perfect fit with our national brand spokesperson Mario Lopez.”

The Human Performance Laboratory of the Department of Health and Exercise Science at the University of Oklahoma presented the results of the sixth scientific study of Celsius, showing that drinking Celsius fifteen minutes prior to moderate exercise may stimulate the fat burning mechanism in previously sedentary adult men that begin a moderate exercise regimen. The 10-week study consisted of 5 days a week of moderate exercise and compared participants who consumed one single 12 oz can of Celsius 15 minutes prior to moderate exercise, with participants who did moderate exercise only.

The Celsius group on average experienced the following benefits:

• 78% greater fat loss
• 114% greater decrease in percent body fat
• 79% greater endurance performance
• 32% greater resistance to fatigue (increased energy)
• 5.5 lbs of fat loss

Chief Researcher of the study, Jeffrey R. Stout, PhD., stated, “What is extremely important is that the significant reduction in body fat we observed does not appear to be the result of any differences or restrictions in diet, but rather it appears to be the result of drinking Celsius. Additionally, Celsius proved to be significantly more effective than exercise alone at improving aerobic fitness, and the ability to delay the onset of fatigue. This research has validated that Celsius enhances the benefits of exercise and helps reduce body fat while building lean muscle, resulting in positive changes to positive changes to body composition.”

The study was presented at American College of Nutrition and published in the Journal of Strength and Conditioning Research. To link directly to this study click here and to review other studies on Celsius, visit http://www.celsius.com/science.

Celsius®, Your Ultimate Fitness Partner ™, has been scientifically shown to burn calories and provide lasting energy, and when combined with exercise helps reduce body fat and build lean muscle. Naturally refreshing Celsius contains no sugar, no high fructose corn syrup, no aspartame, no artificial preservatives, flavors, or colors, and is very low in sodium. Celsius is powered by a proprietary blend of ingredients, MetaPlus®, which includes Green Tea with EGCG, Ginger, Caffeine, Calcium, Chromium, B Vitamins and Vitamin C.

About Celsius Holdings, Inc.
Celsius Holdings, Inc. (NASDAQ: CELH) markets Celsius®, Your Ultimate Fitness Partner™, which is backed by science. Celsius is dedicated to providing healthier, everyday refreshment through science and innovation. Information about Celsius Holdings, Inc. and Celsius, Your Ultimate Fitness Partner™, is available at http://www.celsius.com.

Forward-Looking Statements
Certain statements made in this press release are forward-looking in nature (within the meaning of the Private Securities Litigation Reform Act of 1995) and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated and consequently, you should not rely on these forward-looking statements as predictions of future events. Certain of these risks and uncertainties are discussed in the reports we filed with the SEC.

Major Chinese 3G Operator Chooses RADCOM (RDCM) to Monitor Their 3G Data Network

TEL AVIV, Israel, March 24, 2010 /PRNewswire-FirstCall/ — RADCOM Ltd. (NASDAQ: RDCM) today announced that a major Chinese 3G mobile service provider has chosen RADCOM’s Omni-Q Service Assurance solution to monitor their 3G network. This is the one of the first monitoring solutions introduced for 3G mobile data in China.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090331/342930 )

This operator is a pioneer of 3G high-speed wireless broadband services. They have to cope with the challenge of a rapidly growing network, resulting from the huge success of mobile broadband in China. The challenges included maintaining a high level of Quality of Service despite the increasing demands of a data network. To meet these challenge and improve Quality of Service and Quality of Experience for their customers, as well as optimize the mobile broadband, the service provider needed a service assurance system. RADCOM was selected to be their provider for this system, making this RADCOM’s first sale of Omni-Q in China. The system purchased deploys RADCOM’s R70S, the new high speed probes.

“We are very excited about the first sale of our Omni-Q in China and we believe that it provides the ideal solution to help service providers in China to succeed in the introduction of high-speed 3G data services.,” said Eyal Harari, RADCOM’s VP Products and Marketing. “Mobile broadband technology is a rapidly developing service in China, and we believe that this is the first of many sales for RADCOM.”

RADCOM develops, manufactures, markets and supports innovative network test and service monitoring solutions for communications service providers and equipment vendors. The Company specializes in next-generation Cellular as well as IMS, Voice, Data and VoIP networks. Its solutions are used in the development and installation of network equipment and in the maintenance of operational networks. The Company’s products facilitate fault management, network service performance monitoring and analysis, troubleshooting and pre-mediation. RADCOM’s shares are listed on the NASDAQ Capital Market under the symbol RDCM. For more information, please visit http://www.RADCOM.com.

Risks Regarding Forward-Looking Statements

Certain statements made herein that use the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in the demand for the Company’s products, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company’s business, reference is made to the Company’s reports filed from time to time with the United States Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason.

China MediaExpress Holdings, Inc. (CCME) Announces 2009 Fourth Quarter and Year-End Financial Results

Mar. 23, 2010 (Business Wire) — China MediaExpress Holdings, Inc. (NYSE Amex: CCME) (“CME” or “Company”), China’s largest television advertising operator on inter-city express buses, today announced financial results for the fourth quarter and year ended December 31, 2009.

Financial Highlights – Fourth Quarter 2009 vs. Fourth Quarter 2008

• Revenue increased by 90.6% to $32.0 million in the fourth quarter of 2009 as compared to $16.8 million in the same quarter of 2008;
• Gross margin for fourth quarter was 68.9%;
• Income from operation increased by 104.7% to $19.5 million in the fourth quarter of 2009 as compared to $9.5 million in the same quarter of 2008; and
• Net income increased by 99.6% to $14.3 million in the fourth quarter of 2009 compared to $7.2 million in the same quarter of 2008.

Financial Highlights – Full Year 2009 vs. Full Year 2008

• Revenue increased 52.3% to $95.9 million in 2009 as compared to $63.0 million in 2008;
• Gross margin for year ended December 31, 2009 was 65.7%;
• Income from operation increased by 61.3% to $56.6 million in 2009 as compared to $35.1 million in 2008;
• Net income increased by 58.2% to $41.7 million in 2009 as compared to $26.4 million in 2008; and
• As of December 31, 2009, the Company had $57.2 million in cash.

Zheng Cheng, CME’s Founder and CEO, commented, “2009 has been an exciting and eventful year for our Company. We started the year as a privately-held business and concluded as a publicly owned company trading on the NYSE Amex. Since our inception in 2003, we have been working hard to successfully grow CME to a multi-million dollar company and to become the market leader in the express bus advertising industry in China. 2009 was the best year in our history as we continued the rapid organic growth of our business by: signing new contracts with additional bus operators partners, both in the areas where we have a strong presence and in new areas as well; entering into exclusive agreements with several operators of airport express buses, broadening our revenue sources to further augment our potential revenue growth through providing additional advertising channels to advertisers and new services to passengers such as the broadcast of the embedded advertisements which are displayed during the broadcasting of the content; and exploring a number of avenues to further grow our market share and geographic coverage through possible acquisitions.”

Discussing 2009 fourth quarter and year-end results, Mr. Cheng noted, “As expected, our fourth quarter was the strongest quarter of the year. Our revenue for the quarter grew by 22.3%, 67.4% and 70.2% compared to the third, second and first quarters of 2009, respectively. Also net income for the quarter increased by 22.7%, 72.8% and 92.0% compared to the third, second and first quarters of 2009, respectively.

He added, “Our network has grown with the signing of several new agreements with bus operators. As of today, our network includes 49 bus operator partners, up from 46 at the end of November; these agreements run from three to eight years. The total number of buses equipped with our television systems is now over 21,000, increasing approximately by more than 1,000 buses since the end of November.”

Mr. Cheng continued, “Our successful platform, the large and growing network of bus operators partners, the wide geographic coverage and our competitive advertising rates, continue to attract a large number of international and national brands to our advertising network. More than 450 advertisers have purchased time on our network either through advertising agents or directly from us. Our growing clientele includes local brand names as well as well-known international and national brands such as Coca Cola, Pepsi, Wahaha, KFC, Siemens, Hitachi, Haier, China Telecom, China Mobile, Nokia, China Post, Procter & Gamble, Bank of China, China Constructing Bank and China Pacific Life Insurance.

“In addition, we plan to further broaden our revenue sources by providing additional advertising channels to our clients and new services to passengers. These additional revenue sources include: a) separately packaging advertising time slots on airport shuttle buses and tour buses which should generate higher revenue, b) displaying soft advertisements packaged as entertainment content, c) establishing stationary advertising media at inter-city express bus terminals to complement our main business, and d) offering new services to advertisers and passengers by featuring hotels, spa resorts, local restaurants on our network along with relevant contact information of service providers and charge advertising fees.

“We remain focused on improving our profit margins by attracting more direct advertising clients. As a result, at the end of 2009 direct clients accounted for 21% of our net revenues, as compared to only 2% at the end of 2008 and 16% at the end of the 2009 third quarter. Our goal is for direct advertising clients to represent approximately 35% our net revenue mix by the end of 2010.”

Jacky Lam, CME’s Chief Financial Officer stated, “In 2009, CME generated approximately $46.2 million of cash from operating activities, of which $16.4 million were generated in the fourth quarter. Our cash position remains very strong and as of December 31, 2009, we had $57.2 million of cash.”

Mr. Lam continued, “In January 2010, we completed two important transactions for our Company. The first transaction was a $30 million private investment from Starr International Company, Inc. (“Starr International”), involving newly issued shares of CME Series A Convertible Preferred Stock and CME common stock purchase warrants. We are very pleased that Starr International, a respected investment firm with a significant presence in China and the US, has shown great confidence in our growth prospects and has become one of our major investors.

“The second transaction was the completion of the exercise and redemption of all of our outstanding public warrants, which brought CME net proceeds (after deducting the amounts paid to the original shareholders of CME) of approximately $26 million. Through the redemption we simplified our complicated capital structure, increased the public float, and made CME more attractive to a larger number of institutional investors. In addition, we eliminated the warrant overhang, removed the associated downward pressure on our stock price and the trading volatility associated with arbitrage.”

Mr. Lam added, “As a result of the above two transactions and the settlement of $10 million promissory note due to the CME original shareholders, as of today, we have over $100 million in cash, to fund our business expansion plans, including internal expansion initiatives and potential mergers and acquisitions of local companies capable of delivering customized, time-specific and local-oriented content.”

Pursuant to the earn-out provisions of the share exchange agreement (“Share Exchange Agreement”) entered into in connection with the Company’s initial business combination with TM Entertainment and Media, CME anticipates issuing the original founding shareholders of the Company 1,000,000 common shares. This earn-out issuance is a result of the Company achieving its 2009 adjusted net income (as defined in the Share Exchange Agreement) of $42 million.

Announces 2010 Guidance

Based on the current customer base, geographic coverage, network of express buses and existing revenue streams, CME’s management projects that its 2010 net income (non-GAAP which is before share based compensation or fair value adjustments for the Company’s financial instruments), will be in the range of $71 million to $75 million. These projections exclude the impact of any possible acquisitions, additional of new buses and new investments in other media projects in 2010.”

Mr. Cheng concluded, “We believe that our Company is well positioned to further benefit from the rapid growth in the advertising spending in China, the second largest advertising market in Asia, and one of the largest and fastest growing markets in the world. We are very proud of our success and are confident that our Company has a bright future.”

Conference Call

CME’s Founder & CEO, Zheng Cheng and CFO, Jacky Lam will host a conference call for investors today, March 23, 2010, at 8:00 pm ET. Interested parties may participate in the call by dialing (877) 241-7870 (US & Canada) and (281) 312-0045 (International); please call in 10 minutes before the conference call is scheduled to begin and ask for the China MediaExpress conference call. After opening remarks, there will be a question and answer period. The conference call will also be broadcast live over the Internet. To listen to the live call, please go to www.ccme.tv or http://investor.shareholder.com/media/eventdetail.cfm?eventid=77777&CompanyID=ABEA-3WTP6Z&e=1&mediaKey=761A92FA0816E8EB83B4B0EA40CA8AAC. Please go to the website at least 15 minutes early to register, and download and install any necessary audio software. If you are unable to listen live, the conference call will be archived and can be accessed for approximately 90 days at CME’s website. We suggest listeners use Microsoft Explorer as their browser.

About CME

CME, through contractual arrangements with Fujian Fenzhong, a variable interest entity of the Company, operates the largest television advertising network on inter-city express buses in China. While CME has no direct equity ownership in Fujian Fenzhong, through the contractual agreements CME indirectly control the operation of Fujian Fenzhong and receives the economic benefits of Fujian Fenzhong’s operations. Fujian Fenzhong generates revenue by selling advertisements on its network of television displays installed on over 21,000 express buses originating in fourteen of China’s most prosperous regions, including the five municipalities of Beijing, Shanghai, Guangzhou, Tianjin and Chongqing and nine economically prosperous provinces, namely Guangdong, Jiangsu, Fujian, Sichuan, Hebei, Anhui, Hubei, Shandong and Shanxi which generate more than half of China’s GDP.

CME completed a share exchange with Hong Kong Mandefu Holdings Limited (“HKMDF”) on October 15, 2009. The share exchange represents a reverse acquisition involving a public blank cheque company and has been accounted for financial reporting purposes as the issuance of shares by HKMDF in exchange for the assets and liabilities of the Company, accompanied by a recapitalization. As a result of the share exchange, HKMDF will be the continuing entity for financial reporting purposes, and will be deemed to be the accounting acquirer. Accordingly, the accompanying consolidated financial information of the Company prior to the share exchange reflects the results, assets and liabilities of HKMDF whereas the assets and liabilities are recorded at their carrying amounts. In addition, HKMDF’s shares and earnings per share have been restated retroactively to reflect the share exchange ratio as at the date of the share exchange in a manner similar to a recapitalization.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”), as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include, but are not limited to statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this report may include, for example, statements about:

• The Company’s goals and strategies;
• The Company’s future prospects and market acceptance of its advertising network;
• The Company’s future business development, financial condition and results of operations;
• Projected changes in revenue, costs, expense items, profits, earnings, and other estimated financial information;
• The Company’s ability to manage the growth of its existing advertising network on inter-city express buses and expansion to prospective advertising network on high speed railways;
• Trends and competition in the out-of-home advertising media market in China;
• Changes in general economic and business conditions in China; and
• Chinese laws, regulation and policies, including those applicable to the advertising industry.

Dynavax (DVAX) Reports Positive Findings From Detailed Safety Analysis of HEPLISAV(TM)

BERKELEY, CA — (Marketwire) — 03/23/10 — Dynavax Technologies Corporation (NASDAQ: DVAX) will present for the first time a detailed analysis of safety data for HEPLISAV™, an investigational adult hepatitis B vaccine, including two major findings:

• The safety profile of HEPLISAV was comparable to that of Engerix-B®, one of two currently licensed vaccines for the prevention of hepatitis B infection, and
• There is no difference in autoimmune adverse events or laboratory markers of autoimmunity between subjects vaccinated with HEPLISAV and Engerix-B.

The results of nine completed clinical studies comparing HEPLISAV to Engerix-B and an analysis of approximately 9,300 blood samples from subjects vaccinated with HEPLISAV or Engerix-B will be presented at the Drug Information Association’s (DIA) Third Oligonucleotides-based Therapeutics Conference in Bethesda, MD on March 24, 2010. The safety data was originally prepared for submission to the FDA as part of extensive documentation that formed the basis upon which HEPLISAV’s clinical development was allowed to resume in late 2009.

These data show that there was no difference between the HEPLISAV and Engerix-B groups in the occurrence of autoimmune adverse events (AEs), with 7 autoimmune AEs in 2,500 subjects immunized with HEPLISAV, a rate of 0.28%, versus 4 autoimmune AEs in 930 subjects immunized with Engerix-B, a rate of 0.43%. In addition, all other analyses presented, including AEs potentially associated with autoimmunity, anti-double stranded DNA antibodies, and ANCA antibodies, were indistinguishable between the two groups.

“Our retrospective analysis of clinical and laboratory safety from 2,500 HEPLISAV-vaccinated subjects in nine clinical trials provided no evidence of an increased risk of autoimmune disease. This thorough analysis has been discussed with the FDA and demonstrates that the safety profile of HEPLISAV is no different from that of Engerix-B, one of the safest vaccines on the market today,” indicated Dr. Tyler Martin, Chief Medical Officer.

Engerix-B® is a trademark of GlaxoSmithKline.

Review of Previously Reported Phase 3 HEPLISAV Data

Dr. Martin also reviewed several earlier clinical studies that compared HEPLISAV to Engerix-B, and provided evidence of HEPLISAV’s enhanced performance:

• The 2004 Phase 3 study of 412 subjects age 40-70 years old found:
  • 99% seroprotection for HEPLISAV vs. 25% for Engerix-B after the second dose;
  • Durable antibody levels that remained one year after the first dose; and
  • Greater protection in the oldest subjects studied, specifically between 56-70 years of age.

• The 2008 Phase 3 “PHAST” study of more than 2,400 subjects at 21 sites in Canada and Germany showed:
  • 98% of subjects who received two doses of HEPLISAV (n=1,819) developed protective antibodies to hepatitis B, vs. 81% of subjects who received three doses of Engerix-B (n=608);
  • The non-inferiority of HEPLISAV as compared to Engerix-B; and
  • A significant difference in terms of efficacy (97% vs. 75% in less responsive populations, namely in the subject group age 40-55 years old).

• The 2007 Phase 1 study in 75 Chronic Kidney Disease patients showed:
  • Rapid, increased protection against hepatitis B viral infection with fewer doses (96% of patients receiving 3 doses of HEPLISAV achieved seroprotection at month 7, compared to 88% of patients receiving 8 doses of Engerix-B);
  • A rapid response of 83% vs. 44% seroprotection two months after the second dose;
  • High and durable antibody levels and seroprotection; and
  • Improved seroprotection in an immunocompromised population.

About HEPLISAV

HEPLISAV is an investigational adult hepatitis B vaccine. The vaccine candidate is being evaluated in two Phase 3 studies that are directed toward fulfilling licensure requirements in the U.S., Canada and Europe. In a completed pivotal Phase 3 trial, HEPLISAV demonstrated increased, rapid protection with fewer doses than current licensed vaccines. Dynavax has worldwide commercial rights to HEPLISAV and is developing the vaccine for large, high-value populations that are less responsive to current licensed vaccines, including individuals with chronic kidney disease. HEPLISAV combines hepatitis B surface antigen with a proprietary Toll-like Receptor 9 agonist known as ISS to enhance the immune response.

About Hepatitis B Vaccines

Currently available hepatitis B vaccines require three doses over six months to achieve full immunogenicity in healthy patient populations. Because compliance with this vaccine regimen is low, new vaccines are needed to provide increased protection in a shorter timeframe. Furthermore, currently available vaccines do not fully address the needs of several patient populations, including those with chronic kidney disease, HIV or chronic liver disease. In particular, patients with comprised immune systems require both rapid and enhanced protection, either because they are less responsive to conventional vaccine regimens or because they are at high risk of infection.

About Dynavax

Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious diseases. The Company’s lead product candidate is HEPLISAV, an investigational adult hepatitis B vaccine designed to enhance protection more rapidly and with fewer doses than current licensed vaccines. For more information visit www.dynavax.com.

Forward-Looking Statements

This press release contains “forward-looking statements,” that are subject to a number of risks and uncertainties. Actual results may differ materially from those set forth in this press release due to the risks and uncertainties inherent in our business, including whether the comparability data presented in the retrospective analyses will be replicated in other clinical studies, successful clinical and regulatory development and approval of HEPLISAV can occur in a timely manner or without significant additional studies or difficulties or delays in development or clinical trial enrollment, whether the studies can support registration for commercialization of HEPLISAV; the results of clinical trials and the impact of those results on the initiation and completion of subsequent trials and issues arising in the regulatory process; the Company’s ability to obtain additional financing to support the development and commercialization of HEPLISAV and its other operations, possible claims against the Company based on the patent rights of others; and other risks detailed in the “Risk Factors” section of our current periodic reports with the SEC. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. Information on Dynavax’s website at www.dynavax.com is not incorporated by reference in the Company’s current periodic reports with the SEC.

ISSI (ISSI) Raises Second Fiscal Quarter Revenue and EPS Guidance

SAN JOSE, Calif., March 22 /PRNewswire-FirstCall/ — Integrated Silicon Solution, Inc. (Nasdaq: ISSI) today updated its financial guidance for the second fiscal quarter ending March 31, 2010. During the March quarter to date, the Company has experienced better than expected end market demand and pricing, primarily for its DRAM products. As a result, the company is increasing its revenue and margin guidance for the quarter. In addition, due to higher than expected new product mask costs and non-executive employee compensation, the Company now expects its operating expenses to be higher than previously expected. The Company also expects its net income and earnings per share to be higher than its prior guidance. ISSI’s updated guidance for the March quarter is as follows:

    --  Revenue to be between $54 million and $56 million compared to previous
        guidance of $48 million to $52 million.
    --  Gross margin to be between 34 percent and 38 percent compared to
        previous guidance of between 28 percent and 32 percent.
    --  Operating expenses to be in a range of $14.0 million to $14.6 million
        compared to previous guidance of $12.4 million to $13.0 million.
    --  Net income to be between $0.20 and $0.24 per fully diluted share
        compared to previous guidance of between $0.08 and $0.12 per share.

“Demand in all of our markets has further strengthened in the March quarter exceeding our original expectations as the DRAM market continues to experience increasing demand while DRAM supplies remain constrained,” said Scott Howarth, ISSI’s President and CEO. “Pricing for DRAM also improved helping to increase our gross margins and net income,” added Mr. Howarth.

About the Company

ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) digital consumer electronics, (ii) networking, (iii) mobile communications, (iv) automotive electronics, and (v) industrial. The Company’s primary products are high speed and low power SRAM and low and medium density DRAM. Through its Giantec business unit, the Company also designs and markets EEPROM, SmartCards and analog power management devices focused on its key markets. ISSI is headquartered in Silicon Valley with worldwide offices in Taiwan, Japan, Singapore, China, Europe, Hong Kong, India, and Korea. Visit our web site at http://www.issi.com.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements concerning our revised guidance for the March 2010 quarter with respect to revenue, gross margin, operating expenses and net income per share and increasing DRAM demand while supplies remained constrained are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include supply and demand conditions in the market place, unexpected reductions in average selling prices for our products, our ability to sell our products for key applications and the pricing and gross margins achieved on such sales, our ability to control or reduce operating expenses, our ability to obtain a sufficient supply of wafers, wafer pricing, our ability to maintain sufficient inventory of products to satisfy customer orders, changes in manufacturing yields, order cancellations, order rescheduling, product warranty claims, competition, the level and value of inventory held by OEM customers, or other risks listed from time to time in the Company’s filings with the Securities and Exchange Commission, including the Company’s Form 10-K for the fiscal year ended September 30, 2009 and the Form 10-Q for the quarter ended December 31, 2009. The Company assumes no obligation to update or revise the forward-looking statements in this release because of new information, future events, or otherwise.

United American Healthcare Corp. (UAHC) Announces Agreement with Largest Shareholder and Potential Additional Investment

DETROIT, March 22 /PRNewswire-FirstCall/ — United American Healthcare Corporation (Nasdaq: UAHC) today announced that the Company has entered into an agreement with St. George Investments, LLC (St. George), under which St. George has agreed to withdraw its own slate of candidates for the UAHC Board of Directors and vote in favor of the candidates nominated by UAHC’s Board at the Annual Meeting of Shareholders scheduled to be held on April 23, 2010. St. George is the largest shareholder in UAHC, currently holding 23.13% of the Company’s outstanding common stock. John M. Fife and Iliad Research and Trading, L.P., (collectively, the Fife Group), affiliates of St. George, recently assigned their beneficial interest in all of the foregoing shares to St. George.

“We are pleased to have reached an agreement with St. George that supports the efforts of our Board and management team in shaping the future direction of our Company,” said William Brooks, CEO of United American Healthcare. “In addition to endorsing the Board’s nominees with their votes at the upcoming Annual Meeting, St. George is willing to provide additional equity capital and valuable insight in identifying potential acquisition candidates, which the Board continues to believe is the best strategic alternative to enhance shareholder value.”

Under terms of the agreement, St. George has agreed to vote its shares in accordance with the recommendations of the UAHC Board of Directors on all matters brought before the shareholders for at least 18 months. In addition, St. George has agreed to customary standstill provisions during that period which, in general, provide that St. George will not: participate in any business combination or transaction involving any material portion of the Company’s business or other assets; participate in a solicitation of proxies; propose any matter for submission to a vote of shareholders of the Company; or call a meeting of the shareholders of the Company, or take any other action to seek to affect the control of the Company’s management or the Board. St. George also has agreed to limit its stock ownership from open market purchases to 35% of the Company’s outstanding common stock.

Under further provisions of the agreement, St. George has granted the Company the right to require St. George to invest $600,000 in the Company in exchange for newly-issued shares of non-voting Series A Convertible Preferred Stock at a price equal to the then-prevailing market price of the Company’s common stock based on a 30-day weighted average. In addition, the Company has a call right to purchase all common stock (including shares that would be acquired upon conversion of the preferred stock) held by St. George on or prior to Sept. 30, 2011 for a specified price, and St. George has a put right to sell such securities to the Company from Oct. 1, 2011 to April 1, 2012 for a specified price.

St. George has also agreed to help the Board identify potential acquisition targets and assist in connection with any such acquisition at the request of the Board, without compensation. St. George and its affiliates have significant history and expertise in identifying and executing strategic mergers and acquisitions, which UAHC’s Board and management team believe will provide an important asset as they evaluate strategic alternatives for the Company.

St. George’s founder and president, John Fife, said, “Our confidence is with United American Healthcare’s current management and Board of Directors. They have extensive experience and have guided UAHC as well as other companies through multiple challenges. We believe that stability and continuity are in everyone’s best interest as the management team continues to apply their expertise to developing the best strategies to enhance shareholder value.”

For a complete description of the terms and conditions of the agreement, see the Company’s Form 8-K filed with the U.S. Securities and Exchange Commission, which investors may access at the investor relations section of the Company’s website or at the SEC’s website at www.sec.gov.

About St. George Investments, LLC

St. George Investments, LLC is an Illinois limited liability company based in Chicago that, directly and through its affiliates, is in the business of making strategic investments in publicly-traded companies.

About United American Healthcare Corporation

United American Healthcare Corporation (UAHC) is a healthcare management company that has pioneered the delivery of healthcare services to Medicaid recipients since 1985. For more information, please visit the Company’s web site at www.uahc.com.

United American Healthcare Corporation Safe Harbor Statement

Forward-looking statements by United American Healthcare Corporation, including those in this announcement, involve known and unknown risks, which may cause actual results and corporate developments to differ materially from those expected. Factors that could cause results and developments to differ materially from expectations include, without limitation, the ongoing impact of the U.S. recession, the termination of the TennCare contract, the wind-down of the CMS contract, the review of strategic alternatives, the ongoing impact of the global credit and financial crisis and other changes in general economic conditions, the effects of state and federal regulations, the effects of acquisitions and divestitures, and other risks described from time to time in each of United American Healthcare’s SEC reports, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and reports on Form 8-K.

WorldHeart (WHRT) Announces Levacor VAD Implant at the University of Utah

SALT LAKE CITY, March 23 /PRNewswire-FirstCall/ — World Heart Corporation (WorldHeart) (Nasdaq: WHRT), a developer of mechanical circulatory systems, announced today that the University of Utah Hospital in Salt Lake City, Utah has successfully implanted its first Levacor(TM) Ventricular Assist Device (VAD). The University of Utah has extensive experience in the VAD field and is the second implanting site nationwide in the Levacor VAD Bridge-To-Transplant (BTT) Study. This is the fourth implant with the Levacor VAD since the inception of the BTT study.

Dr. Craig Selzman, cardiac surgeon and the University of Utah’s surgical Principal Investigator for the study commented, “We are excited to participate in the Levacor VAD BTT Study and to provide a unique technology to our patients. This is another milestone in the long history of Utah-based leadership in the development of implanted blood pumps of which the entire University is proud.”

Mr. J. Alex Martin, WorldHeart’s President and Chief Executive Officer added, “We are delighted that the University of Utah is a participating clinical site in the Levacor VAD BTT Study. This expands therapy options for heart-transplant candidates in the Mountain West area.”

About the Levacor VAD and World Heart Corporation

The Levacor VAD is the only fully magnetically levitated, bearingless, implantable centrifugal pump to move into clinical trial. By using magnetic levitation to fully suspend a spinning rotor, the Levacor VAD’s only moving part, the pump is designed to eliminate wear and to provide unobstructed clearances for blood flow across a wide range of operation.

WorldHeart is a developer of mechanical circulatory support systems based in Salt Lake City, Utah with additional facilities in Oakland, California, USA. World Heart’s registered office is in Delaware, USA.

Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include all statements relating to WorldHeart’s bridge-to-transplant clinical study of the Levacor Ventricular Assist Device, strategic direction, increase in shareholder value, access to investment capital, its clinical development programs and the product pipeline, and the growth of WorldHeart’s overall business, as well as other statements that can be identified by the use of forward-looking language, such as “believes,” “feels,” “expects,” “may,” “will,” “should,” “seeks,” “plans,” “anticipates,” or “intends” or the negative of those terms, or by discussions of strategy or intentions. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including without limitation: risks involved in the clinical trials of the Levacor Ventricular Assist Device; WorldHeart’s need for additional capital in the future; risks in product development, regulatory approvals and market acceptance of and demand for WorldHeart’s products; and other risks detailed in WorldHeart’s filings with the U.S. Securities and Exchange Commission, including without limitation its Annual Report on Form 10-K for the year ended December 31, 2009.

Rexahn Pharmaceuticals (RNN) Announces Formation of Parkinson’s Disease Scientific Advisory Board

Mar. 22, 2010 (Business Wire) — Rexahn Pharmaceuticals, Inc. (NYSE Amex: RNN), a clinical stage pharmaceutical company commercializing potential best in class oncology and CNS therapeutics, today announced the formation of its Parkinson’s Disease Scientific Advisory Board (SAB), featuring some of the leading medical researchers in neurology. The SAB actively will collaborate with Rexahn on the clinical development strategy for its CNS drug candidate, Serdaxin^®.

Chairing the SAB is Dr. William Weiner, Director of the Maryland Parkinson’s Disease and Movement Disorders Center, and Professor and Chair of the Department of Neurology at the University of Maryland School of Medicine. Dr. Weiner is a recognized pioneer and key opinion leader in Neurology. He has been involved in Parkinson’s disease clinical research for over 40 years and has been involved in the development of all the major therapeutic agents used to treat this disease. Dr. Weiner has also published over 200 peer reviewed articles and 20 textbooks related to Parkinson’s disease and related disorders.

Commenting on the newly formed SAB, Dr. Weiner said, “With Serdaxin, Rexahn is developing a promising therapeutic for Parkinson’s disease, a condition in great need of effective treatment options. I am excited to help contribute to the design of Serdaxin’s clinical trials and ultimately to help guide this promising drug into the clinic, where it may one day help treat patients suffering from this debilitating illness.”

Joining Dr. Weiner are three additional leading neurology medical experts, including:

Kenneth Marek, MD, President and Senior Scientist, Institute for Neurodegenerative Disorders, New Haven, CT. Dr. Marek serves on the scientific advisory board of the Michael J Fox Foundation. He was a co-founder and continues to lead the AMADEUS consortium, an international SPECT imaging consortium for multi-center neuroimaging in clinical studies. He has served on the executive committee of the Parkinson Study Group. He was also a co- founder of Molecular NeuroImaging, LLC, a company providing clinical neuroimaging research services.

Andrew Feigin, MD, Professor, Departments of Molecular Medicine and Neurology At Hofstra University School of Medicine in Partnership with the North Shore – LIJ Health System. Dr. Feigin has 18 years experience in the design and conduct of clinical trials for Parkinson’s disease.

Fernando Pagan, MD, Associate Professor of Neurology, Co-Director of Movement Disorders Program, Medical Director of National Parkinson Foundation Center of Excellence at Georgetown University Hospital (GUH). He is the fellowship director for the clinical research fellowship in movement disorders at GUH. His areas of specialty include Parkinson’s disease, parkinsonism and other related disorders, ataxia, essential oftremor, dystonia and tics.

About Rexahn Pharmaceuticals, Inc.

Rexahn Pharmaceuticals is a clinical stage pharmaceutical company dedicated to commercializing first in class and market leading therapeutics for cancer, CNS disorders, sexual dysfunction and other unmet medical needs. Rexahn currently has three drug candidates in Phase II clinical trials, Archexin^®, Serdaxin^®, and Zoraxel™ – all potential best in class therapeutics – and a robust pipeline of preclinical compounds to treat multiple cancers and CNS disorders. Rexahn also operates key R&D programs of nano-medicines, 3D-GOLD, and TIMES drug discovery platforms. For more information, please visit www.rexahn.com.

Safe Harbor

This press release contains forward-looking statements. Rexahn’s actual results may differ materially from anticipated results, and expectations expressed in these forward-looking statements, as a result of certain risks and uncertainties, including Rexahn’s lack of profitability, and the need for additional capital to operate its business to develop its product candidates; the risk that Rexahn’s development efforts relating to its product candidates may not be successful; the possibility of being unable to obtain regulatory approval of Rexahn’s product candidates; the risk that the results of clinical trials may not be completed on time or support Rexahn’s claims; demand for and market acceptance of Rexahn’s drug candidates; Rexahn’s reliance on third party researchers and manufacturers to develop its product candidates; Rexahn’s ability to develop and obtain protection of its intellectual property; and other risk factors set forth from time to time in our filings with the Securities and Exchange Commission. Rexahn assumes no obligation to update these forward-looking statements.

Industrial Services of America, Inc. (IDSA) Reports Fourth Quarter and 2009 Results

Mar. 22, 2010 (Business Wire) — Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities for domestic users and export markets and offers programs and equipment to help businesses manage wastes, today reported financial results for the fourth quarter and full year ending December 31, 2009.

Highlights:

• Total revenue and net income for the fourth quarter and year 2009 were the strongest in our history
• Total revenue for 2009 increased to $181 million
• Net income for 2009 increased to $5.3 million, or $1.37 per basic and diluted share
• Total revenue for the fourth quarter increased to $37.7 million in 2009
• Net income for the fourth quarter increased to $1.5 million, or $0.36 per basic and diluted share

Harry Kletter, Chairman and Chief Executive Officer, commented, “We are pleased to announce record sales and earnings for 2009. The growth initiatives that were initiated in 2008 were implemented during 2009 and are now in full production. Our purchase of the stainless steel recycling operation in the beginning of 2009 has been a tremendous success. The new shredder is in full operation and is contributing to higher operating efficiencies and increased profits. We also expanded and upgraded our primary recycling facility in Louisville. Brian Donaghy, the President of ISA, has been very instrumental in the growth and success of the company. After my nearly 60 years in the industry, I am very confident in his abilities to lead the company forward.”

Fiscal 2009 Highlights:

• Total revenue was $181 million in 2009, compared with $100 million in 2008.
• Net income was $5,284,712 (basic and diluted earnings of $1.37 per share) in 2009, compared with net income of $1,527,598 (basic and diluted earnings of $0.43 per share) in 2008. Basic and diluted weighted average shares outstanding were 3,855,552 and 3,867,639, respectively in 2009 and 3,595,813 for both in 2008.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2009 was $12,680,811 compared with EBITDA of $5,045,844 for 2008. (See attached reconciliation.)

Fourth Quarter 2009 Highlights:

• Total revenue was $37.7 million in 2009, compared with $10.6 million in 2008.
• Net income was $1,547,225 (basic and diluted earnings of $0.36 per share) in 2009, compared with a net loss of $2,501,700 (basic and diluted earnings of $0.69 per share) in 2008. Basic and diluted weighted average shares outstanding were 4,286,292 and 4,306,952 in 2009 and 3,575,292 for both in 2008.
• Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2009 was $3,724,852 compared with EBITDA of $(3,550,693) for 2008. (See attached reconciliation.)

2009 Operational Highlights

– ISA expanded into the stainless steel recycling market for super alloys and high temperature metals by purchasing inventories and related equipment from Venture Metals, LLC and hiring two of its key executives. The Company is now one of the largest recyclers and processors of stainless steel in the U.S.

– In June 2009, the Company completed the multi-million-dollar shredder project with annual shredding capacity of 150,000 gross tons which offers specialty grades of scrap and improves end-product quality. The shredder began operations on July 1, 2009.

– ISA expanded the company’s primary metal recycling facility in Louisville, doubling its usable acreage, expanding the road and making other improvements at the site. A significant portion of the Company’s main scrap processing facility was resurfaced with concrete and asphalt, has two new scales at its entrance and a 159,000 square-foot, 15-bay warehouse and office building available for its use.

– ISA brought in experienced new management to lead the company’s future growth.

2010 First Quarter Outlook

Based on actual results and projected trends, the Company said first quarter revenues for 2010 are expected to be in the range of $65 million to $75 million.

Other Information

ISA will host a conference call on Monday, March 22, 2010 at 2:00 p.m. Eastern time to discuss its earnings results for the year and quarter ended December 31, 2009 and to provide an update on business developments.

The conference call can be accessed by dialing:

Callers should identify the Industrial Services of America earnings results call.

ISA’s 2009 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html.

About ISA

Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste. More information about ISA is available at www.isa-inc.com.

This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in the waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA’s results is detailed in ISA’s filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.

Key words: recycling, scrap, ferrous, non-ferrous materials, waste management, international markets, global markets.

FINANCIAL RESULTS AND

SUPPLEMENTAL FINANCIAL INFORMATION

FOLLOW

Ascent Solar Technologies, Inc. (ASTI) Signs Strategic Alliance Agreement With Indian Conglomerate

Mar. 22, 2010 (Business Wire) — Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of flexible thin-film solar modules, announced today that it has signed a Strategic Alliance Agreement with Kirloskar Integrated Technologies Limited, India (Kirloskar). Under the terms of the multi-phase agreement the two companies will commence integration, marketing and distribution of Ascent Solar’s flexible CIGS photovoltaic modules into products designed to address multiple market opportunities in India. Target markets include defense, consumer portable power, off grid rural power solutions and hybrid solar and diesel generation back up power systems. Phase two of the agreement provides for the establishment of a complete backend module assembly plant in India and the third and final phase of the contact is designed to expand production in India to include complete end to end module manufacturing. This agreement results from the collaboration achieved thus far under a memorandum of understanding signed in September of 2009 between the two companies.

Mr. L.A. Joshi, CEO of Kirloskar, said, “Kirloskars’s vision is to provide decentralized sustainable solutions based on renewable resources. Having successfully established energy solutions using technologies like anaerobic digestion of organic waste and non-edible vegetable oil and biodiesel, we were in search of appropriate partner for solar photovoltaics which can compliment Kirloskar’s strength as a leader in distributed power generation. We are pleased to have Ascent as our partner in the endeavor to harness the very large solar energy potential related to off-grid and on-grid applications, by taking advantage of the favorable policies of the Indian government. We truly believe that the leading-edge technology of Ascent and the synergy in our strategies will help us establish a leadership position in PV markets in India.”

Ascent Solar President and CEO Farhad Moghadam added, “Our relationship with Kirloskar provides Ascent Solar with a partner for development of multiple market opportunities in a rapidly advancing country like India. We believe that Kirloskar has significant relationships and well established sales and marketing channels in key target markets for defense, space, consumer electronics and hybrid diesel generators. We are proud to continue our work with Kirloskar to address a wide array of growing off-grid and on-grid PV opportunities in the growing Indian market.”

About Ascent Solar Technologies:

Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. Ascent Solar modules can be directly integrated into standard building materials, space applications, consumer electronics for portable power or configured as stand-alone modules for large scale terrestrial deployment. Ascent Solar is headquartered in Thornton, Colorado. For more information, go to www.AscentSolar.com.

About Kirloskar Integrated Technologies Limited:

Kirloskar Integrated Technologies Limited, India is part of the Kirloskar Group, founded in 1888, one of India’s premier industrial and engineering conglomerates. KITL operates in the area of green technologies and has intentions to form further strategic alliances in fuel cells, on-site hydrogen production, wind energy, and hybrid solutions. The Kirloskar Group is an ISO certified diversified manufacturer of diesel engines for marine and power generation applications, diesel gensets, irrigation pumps, compressors, valves and automotive components, as well as an array of products for the oil and gas industries. The company has its headquarters in Pune in Maharashtra State. Additional information can be found at www.kirloskar.com.

Forward Looking Statements

Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.

CTI Industries Corporation (CTIB) Reports 2009 Results, Including Strong Sales and Profits

BARRINGTON, IL — (Marketwire) — 03/22/10 — CTI Industries Corporation (NASDAQ: CTIB), a manufacturer and marketer of novelty balloons, printed and laminated films and flexible packaging and storage products, today announced its full-year results of operations for 2009, as well as for the three months ended December 31, 2009.

Fourth Quarter Results

Consolidated net sales for the fourth quarter 2009 were $10,738,000 compared to consolidated net sales of $9,832,000 for the fourth quarter of 2008, an increase of 9.2%. For the quarter, CTI had net income of $296,000, or $0.11 per share (basic and diluted), compared to net income of $121,000, or $0.04 per share (basic and diluted), for the fourth quarter of 2008, an increase of 145%.

Year-End Results

For the year ended December 31, 2009, consolidated net sales totaled $41,295,000, compared to consolidated net sales of $44,981,000 for the year ended December 31, 2008. For the year, CTI achieved net income of $1,003,000, or $0.36 per share (basic and diluted). For the year ended December 31, 2008, CTI had a net profit of $1,154,000, representing $0.42 per share (basic) and $0.40 per share (diluted).

Key Factors and Trends

During 2009, CTI experienced a modest decline in revenues of 8.2% compared to 2008 revenues. However, fourth quarter revenues increased by 9.2% over the same period of 2008, reflecting improved prospects toward the end of the year. For the year, revenues from the sale of foil balloon products increased by 12.5%, from $17,629,000 in 2008 to $19,824,000 in 2009. Revenues from the sale of pouch products declined in 2009 to $6,895,000 from $10,893,000 in 2008. However, 2008 pouch revenues included significant sales in the first half of the year due to the initial purchases arising from the introduction of a vacuumable pouch product line for S.C. Johnson & Son. In the second half of 2009, revenues from pouch sales were up substantially over the same period of 2008, reflecting CTI’s strong pouch sales in that period.

Gross margin levels declined modestly in 2009 to 22.3% from 22.9% in 2008. This decline resulted principally from an increase in sales of certain novelty items that have higher costs in relation to their selling price.

CTI Industries Corporation, based in suburban Chicago, designs, develops, produces and markets a line of novelty balloon products, laminated and printed films for packaging applications and flexible packaging and storage products.

Statements made in this release that are not historical facts are “forward-looking” statement (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These “forward-looking” statements may include, but are not limited to, statements containing words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “goal,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or similar expressions. Factors that could cause results to differ are identified in the public filings of the Company with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

— FINANCIAL HIGHLIGHTS FOLLOW —

CTI Industries Corporation and Subsidiaries
Condensed Consolidated Balance Sheets

                                             December 31,    December 31,
                                                 2009            2008
                                            --------------- ---------------
                      ASSETS
Current assets:
    Cash                                    $       870,446 $       180,578
    Accounts receivable, (less allowance
     for doubtful accounts of $57,000 and
     $39,000 respectively)                        7,320,181       5,821,593
    Inventories, net                              9,643,914      10,504,769
    Net deferred income tax asset                   706,754         674,872
    Prepaid expenses and other current
     assets                                         607,127         506,225
                                            --------------- ---------------

      Total current assets                       19,148,422      17,688,037

      Total property, plant and equipment,
       net                                        9,533,411      10,575,982

      Total other assets                          1,713,476       1,724,172
                                            --------------- ---------------

TOTAL ASSETS                                $    30,395,309 $    29,988,191
                                            =============== ===============

     LIABILITIES AND STOCKHOLDERS' EQUITY

      Total current liabilities                  16,734,520      16,222,180
      Total long-term liabilities, less
       current maturities                         4,881,568       6,018,655
                                            --------------- ---------------
        Total Liabilities                        21,616,088      22,240,835

      Total CTI Industries Corporation
       stockholders' equity                       8,762,663       7,734,600

Noncontrolling Interest                              16,558          12,756
                                            --------------- ---------------

        Total Equity                              8,779,221       7,747,356

TOTAL LIABILITIES & STOCKHOLDERS' EQUITY    $    30,395,309 $    29,988,191
                                            =============== ===============

CTI Industries Corporation and Subsidiaries
Condensed Consolidated Statements of Operations

                                                    Three months ended
                      Year ended December 31,          December 31,
                        2009          2008          2009          2008

                    ------------  ------------  ------------  ------------
Net sales           $ 41,295,152  $ 44,980,674  $ 10,737,583  $  9,832,048
Cost of sales         32,081,779    34,658,271     8,369,364     7,496,480
                    ------------  ------------  ------------  ------------
      Gross profit     9,213,373    10,322,403     2,368,219     2,335,568

Operating expenses:
  General and
   administrative      4,539,494     5,375,526     1,151,999     1,311,912
  Selling                871,258       886,391       269,438       176,195
  Advertising and
   marketing           1,576,225     1,677,900       363,059       413,016
                    ------------  ------------  ------------  ------------

      Total
       operating
       expenses        6,986,977     7,939,817     1,784,496     1,901,123
                    ------------  ------------  ------------  ------------

Income from
 operations            2,226,396     2,382,586       583,723       434,445

Other (expense)
 income:
  Interest expense    (1,085,107)   (1,031,457)     (260,355)     (232,146)
  Other                  (19,956)       50,003       (13,509)      (17,118)
                    ------------  ------------  ------------  ------------

      Total other
       expense        (1,105,063)     (981,454)     (273,864)     (249,264)
                    ------------  ------------  ------------  ------------

Income before taxes    1,121,333     1,401,132       309,859       185,181

Income tax expense       114,391       246,779        12,604        64,454
                    ------------  ------------  ------------  ------------

Net Income             1,006,942     1,154,353       297,255       120,727

Less: Net income
 (loss)
 attributable to
 noncontrolling
 interest                  3,802           222           779           (18)
                    ------------  ------------  ------------  ------------

      Net income
       attributable
       to CTI
       Industries
       Corporation  $  1,003,140  $  1,154,131  $    296,476  $    120,745
                    ============  ============  ============  ============

Income applicable
 to common shares   $  1,003,140  $  1,154,131  $    296,476  $    120,745
                    ============  ============  ============  ============

Basic income per
 common share       $       0.36  $       0.42  $       0.11  $       0.04
                    ============  ============  ============  ============

Diluted income per
 common share       $       0.36  $       0.40  $       0.11  $       0.04
                    ============  ============  ============  ============

Weighted average
 number of shares
 and equivalent
 shares of common
 stock outstanding:
    Basic              2,765,277     2,763,017     2,738,063     2,808,720
                    ============  ============  ============  ============

    Diluted            2,775,062     2,898,681     2,757,058     2,843,196
                    ============  ============  ============  ============

Intersil (ISIL) to Acquire Techwell (TWLL)

MILPITAS, CA and SAN JOSE, CA — (Marketwire) — 03/22/10 — Intersil Corporation (NASDAQ: ISIL)

• Establishes Intersil as #1 Video IC Supplier in Security Surveillance Market
• Creates Leadership Position in Automotive Infotainment Market
• Acquisition Expected to be Accretive to 2010 EPS, excluding acquisition-related charges

Intersil Corporation (NASDAQ: ISIL) and Techwell, Inc. (NASDAQ: TWLL) announced today they have entered into a definitive agreement for Intersil to acquire Techwell through a cash tender offer at $18.50 per share. Net of Techwell’s cash and equivalents, the transaction values Techwell at approximately $370 million.

Techwell, with over 200 employees in the U.S., China, Japan, South Korea and Taiwan, is a fabless semiconductor company that designs and sells mixed signal video solutions for the security surveillance and automotive infotainment markets. Techwell’s products enable the conversion of analog video signals to digital form and perform advanced digital video processing to facilitate the display, storage and transport of video content. Major applications using Techwell products include industrial DVRs, networked video recorders, multiplexers, as well as automotive front consoles, rearview mirrors and rear seat LCD displays.

“Techwell’s team and products will expand our leadership in two high-growth industrial markets,” said Dave Bell, Intersil’s President and Chief Executive Officer. “The addition of Techwell’s mixed signal video products will help our customers build solutions that improve performance, reduce overall cost and shorten time-to-market. In addition, the acquisition will significantly increase our overall industrial business, which will become our largest end market at approximately 31% of revenue,” continued Mr. Bell.

“We are very excited to join the Intersil family,” said Hiro Kozato, Techwell’s President and Chief Executive Officer. “This combination will help us deliver a much broader product offering in Techwell’s end markets. Intersil’s customer relationships will create numerous new opportunities for the combined company,” said Mr. Kozato.

The acquisition is expected to be accretive to Intersil’s 2010 earnings, excluding one-time costs and other acquisition-related charges.

Tender Offer and Closing

Under the terms of the agreement, Intersil will commence a cash tender offer to acquire Techwell’s outstanding shares of common stock at $18.50 per share. Terms of the agreement were unanimously approved by Techwell’s board of directors, and Techwell’s board has recommended that Techwell shareholders tender their shares into the offer. Techwell’s directors, entities affiliated with Technology Crossover Ventures, and certain executive officers of Techwell (in total representing approximately 23% of the outstanding shares) have already agreed to tender their shares into the offer.

Intersil expects to finance the acquisition by issuing debt; however, the transaction is not subject to a financing condition. Intersil has received a financing commitment of $390 million from Morgan Stanley Senior Funding, Inc. in connection with the acquisition. Morgan Stanley is acting as financial advisor to Intersil in connection with the acquisition, and Dechert LLP is acting as Intersil’s legal counsel. Deutsche Bank Securities Inc. is acting as financial advisor to Techwell in connection with the acquisition, and Pillsbury, Winthrop, Shaw and Pittman is acting as Techwell’s legal counsel.

The acquisition is expected to close during Intersil’s second quarter and is subject to customary regulatory approvals and the satisfaction of other transaction conditions including the tender of at least 50% of Techwell’s outstanding shares.

Conference Call
Dave Bell, Intersil’s President and Chief Executive Officer, and Jonathan Kennedy, Senior Vice President and Chief Financial Officer, will host a brief conference call at 8:00 a.m. Pacific Time to discuss the details of the proposed acquisition.

Those wishing to participate in the conference call please dial (800) 561-2813, and international participants please dial +1 (617) 614-3529, using the passcode 53602928 at approximately 7:50 a.m. Pacific Time. Those wishing to listen to the call may also do so via webcast on the company’s Web site: http://www.intersil.com/investor.

A replay of the call will be available for two weeks following the conference call on the company Web site, or may be accessed by dialing (888) 286-8010, international dial +1 (617) 801-6888, using the passcode 14786787.

About Intersil
Intersil Corporation is a leader in the design and manufacture of high-performance analog and mixed signal semiconductors. The Company’s products address some of the industry’s fastest growing markets, such as flat panel displays, cell phones, notebooks and other handheld systems. Intersil’s product families address power management functions and analog signal processing functions. Intersil products include ICs for battery management, hot-plug controllers, linear regulators, power sequencers, supervisory ICs, bridge drivers, PWM controllers, switching DC/DC regulators, Zilker Labs Digital Power ICs and power MOSFET drivers; optical storage laser diode drivers; DSL line drivers; D2Audio products; video and high-performance operational amplifiers; high-speed data converters; interface ICs; analog switches and multiplexers; crosspoint switches; voice-over-IP devices; and ICs for military, space and radiation-hardened applications. For more information about Intersil or to find out how to become a member of our winning team, visit the Company’s web site and career page at www.intersil.com.

About Techwell
Techwell is a fabless semiconductor company that designs, markets and sells mixed signal video semiconductor solutions for the security surveillance and automotive infotainment markets. Headquartered in San Jose, CA, Techwell currently has over 200 employees in the U.S., China, Japan, South Korea and Taiwan. Please visit http://www.techwellinc.com for more information.

Securities Law Disclosure and Additional Information

The tender offer for the outstanding shares of common stock of Techwell, Inc. (“Techwell”) has not yet commenced. No statement in this document is an offer to purchase or a solicitation of an offer to sell securities. At the time the tender offer is commenced, Intersil Corporation and an indirect wholly-owned subsidiary of Intersil Corporation will file a tender offer statement on Schedule TO with the Securities and Exchange Commission, and Techwell will file a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer. Any offers to purchase or solicitations of offers to sell will be made only pursuant to such tender offer statement. The tender offer statement (including an offer to purchase, a related letter of transmittal and other offer documents) and the related solicitation/recommendation statement will contain important information, including the various terms of, and conditions to, the tender offer, that should be read carefully by Techwell’s stockholders before they make any decision with respect to the tender offer. Such materials, when prepared and ready for release, will be made available to Techwell’s stockholders at no expense to them. In addition, at such time such materials (and all other offer documents filed with the SEC) will be available at no charge on the SEC’s Web site: www.sec.gov.

Versar, Inc. (VSR) Acquires ADVENT Environmental, Inc.

SPRINGFIELD, Va.–(BUSINESS WIRE)–Versar, Inc. (NYSE Amex: VSR) announced today that it has acquired ADVENT Environmental, Inc. (“Advent”). Advent, headquartered in Charleston, South Carolina, is a Department of Defense, full service environmental contractor with significant capabilities in Military Munitions Response Plans (MMRP) and Unexploded Ordinance (UXO) clean-up.

The Advent acquisition was accomplished with cash, note and an earn-out and is expected to be accretive in the first year. Advent will add over $12 million in annualized gross revenue and provide Versar additional overall contract capacity with the Department of Defense in excess of $100 million and a funded backlog of $10 million. Advent’s clients include the U.S. Army Corps of Engineers (USACE), The Air Force Center of Environmental Excellence (AFCEE) and the U.S. Navy.

Tony Otten, CEO of Versar, said, “The acquisition of Advent Environmental is a great strategic fit for Versar. We are extremely excited about the opportunities this combination offers. Our cultures are similar and Advent’s technical capabilities compliment our own. MMRP and UXO clean-up are a major new Versar initiative which will move ahead faster and become stronger with the joint Advent-Versar resources.”

Advent’s management will stay intact and report to Jeff Moran, Versar’s Compliance and Environmental Group’s Sr. Vice President. Kenna Sellers, Advent’s CEO said, “The combination of two outstanding under – 500 Federal contractors will allow us to combine our resources and deliver outstanding service to our clients.”

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; http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ppsgb.com&esheet=6218837&lan=en_US&anchor=www.ppsgb.com&index=6&md5=1eb09e818de3ee3c07a1a13b3eec74f4; http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.adventenv.com&esheet=6218837&lan=en_US&anchor=www.adventenv.com&index=7&md5=d98997aa08bf76562d31b18c6e3943c5.

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.

Hyperdynamics (HDY) Announces Second Extension of MOU With Government of Guinea

HOUSTON, March 19 /PRNewswire-FirstCall/ — Hyperdynamics Corporation (NYSE Amex: HDY) today announced that it has agreed in writing with the government of the Republic of Guinea to extend for an additional five working days their Memorandum of Understanding (MOU).  The MOU was entered into in September 2009 and called for a review of the commercial terms of the 2006 Production Sharing Contract (PSC) among Hyperdynamics, Dana Petroleum and the Republic to bring them in line with international standards.  The MOU provided for a six-month negotiating period intended to culminate in an agreed PSC amendment.

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 http://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. 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.

Bovie Medical Corp. (BVX) Announces Clearance to Market Its BOSS Soft Tissue Coagulation Device

MELVILLE, N.Y.–(BUSINESS WIRE)–Bovie Medical Corporation (the “Company”) (NYSE-AMEX Symbol: BVX), a manufacturer and marketer of electrosurgical products, today announced the Company received clearance from the Food and Drug Administration (FDA) to market its proprietary BOSS™ bipolar sintered steel coagulation device. The BOSS™ is the latest device based on Bovie’s saline enhanced sintered steel technology.

The BOSS™ delivers RF energy simultaneously with saline to perform coagulation of soft tissue and bone resulting in reduced blood loss while minimizing charring and sticking of tissue. Saline enhanced surgeries reduce operating time while improving post-operative outcomes leading to shortened recovery time.

The BOSS™ will primarily be targeted to orthopedic surgeons performing hip and knee arthroplasty; a market comprised of approximately 1.1 million procedures performed annually in the United States. These orthopedic procedures represent large and growing markets due to a more active and aging population. Additional markets for the BOSS™ include spine, endoscopic, abdominal and thoracic surgeries. The worldwide market is expected to exceed $500 million in 2010.

Andrew Makrides, president of Bovie, stated, “Receiving FDA clearance to market the BOSS™ is a significant milestone in Bovie’s development of disposable high margin proprietary products for fast growing markets.”

For further information about the Company’s current and new products, please refer to the Investor Relations section of Bovie’s website http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.boviemedical.com&esheet=6220641&lan=en_US&anchor=www.boviemedical.com&index=1&md5=515aca9ead8f80e1157e316828228f12.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.

Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. For forward-looking statements in this new release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Celsion Corp. (CLSN) Announces ThermoDox(R) Abstract Accepted for Presentation

COLUMBIA, Md., March 18 /PRNewswire-FirstCall/ — Celsion Corporation (Nasdaq:CLSN – News) today announced that an abstract about the Phase I/II trial of ThermoDox® in Recurrent Chest Wall Cancer (RCW) has been accepted for presentation at the American Society of Clinical Oncology (ASCO) 2010 Annual Meeting.  The abstract presents the background, rationale, and design of the DIGNITY study which is ongoing and evaluating ThermoDox in combination with hyperthermia in women with recurrent breast cancer on their chest wall.  The ASCO Annual Meeting will be held June 4 – 8, 2010 at the McCormick Place Convention Center in Chicago, Illinois.

The abstract, titled “Phase I/II study evaluating the maximum tolerated dose, pharmacokinetics, safety, and efficacy of approved hyperthermia and lyso-thermosensitive liposomal doxorubicin in patients with breast cancer recurrence at the chest wall” will be presented by Nicholas Borys, M.D., Celsion’s Chief Medical Officer.

“We are pleased that our study was among those that were accepted providing continued evidence of the medical community’s high interest level in ThermoDox, the progress of our clinical program, and our focus on a cancer that is very difficult to treat,” commented Michael H. Tardugno, Celsion’s President and Chief Executive Officer.  “We are grateful for the commitment of our clinical investigators to this important work and look forward to their on-going participation in the DIGNITY trial.”

Dr. Borys commented, “Our Phase I/II trial combines ThermoDox with hyperthermia, offering a unique approach to treating patients with difficult loco-regional recurrence of breast cancer at the chest wall. In a separate trial of similar design being conducted at Duke University Medical Center, researchers are reporting convincing evidence of clinical activity.  I look forward to the continuation of our trial and the potential to provide an improvement in the standard of care for this devastating disease.”

About the DIGNITY Clinical Trial

The DIGNITY clinical trial is a Phase I/II open label, dose escalating trial to evaluate the safety and efficacy of ThermoDox® with hyperthermia for the treatment of Recurrent Chest Wall (RCW) Breast Cancer, an aggressive form of cancer with a poor prognosis and limited treatment options. The primary endpoint in the DIGNITY trial is durable complete local response at the tumor site. Once the safe dose is determined Celsion intends to enroll up to 100 patients to establish efficacy. The results from the DIGNITY trial are expected to build on the promising data from the Phase I dose escalation study currently being conducted at Duke University Medical Center.

About ThermoDox(R)

ThermoDox® is a proprietary heat-activated liposomal encapsulation of doxorubicin, an approved and frequently used oncology drug for the treatment of a wide range of cancers including breast cancer. ThermoDox® is administered intravenously and in combination with hyperthermia has the potential to provide local tumor control and improve quality of life. Localized mild hyperthermia (39.5-42 degrees Celsius) releases the entrapped doxorubicin from the liposome. This delivery technology enables high concentrations of doxorubicin to be deposited preferentially in a targeted tumor.

ThermoDox® has also demonstrated evidence of efficacy in a Phase I study for primary liver cancer. Celsion has been granted FDA Orphan Drug designation for ThermoDox® and is conducting a pivotal 600 patient global Phase III study in primary liver cancer under a FDA Special Protocol Assessment.

Additional information on ThermoDox® clinical studies for RCW breast cancer and primary liver cancer can be found at: http://www.clinicaltrials.gov/.

ThermoDox® is a registered trademark of Celsion Corporation.

About Celsion

Celsion is dedicated to the development and commercialization of innovative oncology drugs including tumor-targeting treatments using focused heat energy in combination with heat-activated drug delivery systems. Celsion has licensed ThermoDox(R) to Yakult-Honsha for the Japanese market and has a partnership agreement with Phillips Medical to jointly develop its heat activated liposomal technology in combination with high intensity focused ultrasound to treat difficult cancers. Celsion has research, license, or commercialization agreements with leading institutions such as the National Institutes of Health, Duke University Medical Center, University of Hong Kong, Cleveland Clinic, and the North Shore Long Island Jewish Health System.

For more information on Celsion, visit our website: http://www.celsion.com.

Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Heritage Financial Group (HBOS) Adopts Plan to Reorganize Stock Offering

ALBANY, Ga.–(BUSINESS WIRE)–Heritage Financial Group (NASDAQ: HBOS – News), the mid-tier holding company for HeritageBank of the South, today announced that it has adopted a plan to reorganize from a two-tier mutual holding company to a full stock holding company and will undertake a “second-step” offering of additional shares of common stock. The conversion and offering is expected to be completed in the third quarter of 2010, subject to regulatory, stockholder and depositor approvals.

“This is an important milestone in our company’s growth strategy,” said Leonard Dorminey, President and Chief Executive Officer of Heritage Financial Group. “While our total risk-based capital ratio at year-end was significantly higher than the required minimum of 10% to be considered a well-capitalized institution, we believe this step will enhance our ability to take advantage of attractive expansion opportunities and better position us for continued growth.”

Heritage MHC, a mutual holding company formed in 2002, holds approximately 76% of the shares of Heritage Financial Group, which in turn owns HeritageBank of the South. The remaining 24% of Heritage Financial Group’s shares currently are held by public stockholders.

As part of the reorganization, HeritageBank of the South will become a wholly owned subsidiary of a to-be-formed stock corporation, Heritage Financial Group, Inc. Shares of the common stock of the Company, other than those held by Heritage MHC, will be converted into shares of common stock in Heritage Financial Group, Inc., using an exchange ratio designed to preserve current percentage ownership interests. Shares owned by Heritage MHC will be retired, and new shares representing that ownership will be offered and sold to the Bank’s eligible depositors, the Bank’s tax-qualified employee benefit plans and to members of the general public as set forth in the Plan of Conversion and Reorganization of Heritage MHC.

Heritage Financial Group, Inc. intends to retain the Company’s NASDAQ symbol, HBOS, and will continue to be headquartered in Albany, Georgia.

The Plan of Conversion and Reorganization of Heritage MHC will be submitted to the Office of Thrift Supervision and the Georgia Department of Banking and Finance for regulatory approval. Upon receipt of regulatory approvals, the Company will seek approval from its stockholders and HeritageBank of the South depositors.

The Company’s reorganization will not affect the existing terms and conditions of deposit accounts and loans with HeritageBank of the South. Deposit accounts will continue to be insured by the Federal Deposit Insurance Corporation, and the Bank’s normal business operations will continue without interruption during the conversion and offering process.

Silver, Freedman & Taff, LLP is legal counsel to the Company and is advising Heritage Financial Group and Heritage MHC in this conversion.

As previously announced, the Company also has signed a definitive agreement to purchase five bank branches in Georgia from PAB Bankshares, Inc., the holding company for The Park Avenue Bank. These branches include two in Statesboro and one each in Baxley, Hazlehurst, and Adel. This transaction, which is expected to close in the second quarter of 2010, subject to regulatory approval and other usual conditions, is expected to result in the transfer of approximately $52 million in loans and approximately $72 million in deposits, including all demand deposits, savings accounts, and money market accounts. HeritageBank of the South also is expected to assume approximately $26 million in certificates of deposit maturing within 45 days of date of closing.

Heritage Financial Group is the mid-tier holding company for HeritageBank of the South, a community-oriented bank serving primarily South Georgia and North Central Florida through 10 full-service banking offices. As of December 31, 2009, the Company reported total assets of approximately $573.2 million, total stockholders’ equity of approximately $62.1 million and a Total Risk-Based capital ratio of 17.0%.

For more information about the Company, visit HeritageBank of the South on the Web at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.eheritagebank.com&esheet=6218612&lan=en_US&anchor=www.eheritagebank.com&index=1&md5=75e970c0a1e3abc76fa39c291bb171a8, and see Investor Relations under About Us.

Except for historical information contained herein, the matters included in this news release and other information in the Company’s filings with the Securities and Exchange Commission may contain certain “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. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Reform Act of 1995 and include this statement for purposes of these safe harbor provisions. Further information concerning the Company and its business, including additional factors that could materially affect our financial results, is included in our other filings with the SEC.

This news release is not an offer to sell or the solicitation of an offer to buy common stock, which is made only pursuant to a prospectus, nor shall there be any sale of common stock in any state in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of any such state.

Ross Stores (ROST) Reports Record Fourth Quarter and Fiscal Year 2009 Earnings (PRN)

PLEASANTON, Calif., March 18 /PRNewswire-FirstCall/ — Ross Stores, Inc. (Nasdaq: ROST) today reported earnings per share for the 13 weeks ended January 30, 2010 of $1.16, up 53% from $.76 for the 13 weeks ended January 31, 2009.  Net earnings for the 13 weeks ended January 30, 2010 grew to a record $142.9 million, up 47% from $97.4 million for the 13 weeks ended January 31, 2009.  Sales for the fourth quarter ended January 30, 2010 grew 14% to $1.980 billion, with comparable store sales up 10% over the prior year.

For the 52 weeks ended January 30, 2010, earnings per share grew 52% to $3.54, up from $2.33 for the 52 weeks ended January 31, 2009.  Net earnings for the 2009 fiscal year ended January 30, 2010 grew 45% to a record $442.8 million, from $305.4 million for the 2008 fiscal year ended January 31, 2009.  Sales for the 2009 fiscal year increased 11% to $7.184 billion, with comparable store sales up 6% on top of a 2% gain in the prior year.

Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “We are exceptionally pleased with our outstanding sales and earnings results for the fourth quarter and full year.  During one of the most challenging economic and retail environments, we not only generated stronger-than-planned revenues, but did so with record merchandise gross margins that drove double digit operating profits as a percent of sales. The best performing merchandise categories for both the quarter and the year were Shoes, Dresses and Home, while geographic trends were broadbased, with all regions posting healthy comparable store sales gains for both periods.”

Mr. Balmuth continued, “Earnings before interest and taxes for the 2009 fourth quarter grew about 260 basis points to 11.7% of sales, up from 9.1% in the prior year period.  This higher profit margin was mainly due to a 230 basis point improvement in cost of goods sold along with a 30 basis point decline in selling, general and administrative costs.  For the 2009 fiscal year, operating margin increased about 250 basis points over the prior year to 10.1% of sales, driven by a 230 basis point decline in cost of goods sold combined with a 20 basis point reduction in selling, general and administrative expenses.  Key drivers of our improved profitability for both the fourth quarter and the year were much higher merchandise gross margin, lower shortage costs and leverage on operating expenses from the strong gains in same store sales.”

“Healthy operating cash flows during the year continued to provide the resources to make capital investments in new store growth and infrastructure and fund our ongoing stock repurchase and dividend programs.  During 2009, we repurchased a total of 7.4 million shares of common stock for an aggregate purchase price of $300 million, completing the two-year $600 million stock repurchase program announced in early 2008.  In January 2010, our Board of Directors approved a new two-year $750 million stock repurchase program along with a 45% increase in our quarterly cash dividend to $.16 per common share.  These actions reflect our confidence in the Company’s ongoing ability to generate healthy amounts of excess cash and our commitment to enhancing stockholder returns,” Mr. Balmuth said.

Looking ahead to 2010, Mr. Balmuth commented, “Our past results demonstrate that we can deliver consistent growth in both healthy and challenging economic climates if we execute our strategies well. This long-term record gives us the confidence to project strong cash flows from additional increases in both comparable store sales and earnings per share during 2010 and beyond.”

The Company will host a conference call on Thursday, March 18, 2010 at 11:00 a.m. Eastern time to provide additional details concerning the fourth quarter and fiscal year 2009 results and management’s outlook and plans for 2010.  A real time audio webcast of the conference call will be available in the Investors section of the Company’s website, located at www.rossstores.com. An audio playback will be available at 706-645-9291, ID #55962140 until 8:00 p.m. Eastern time on March 25, 2010, as well as at the Company’s website address.

Forward-Looking Statements:  This press release and the recorded conference call on our corporate website contain forward-looking statements regarding expected sales and earnings levels in future periods that are subject to risks and uncertainties which could cause our actual results to differ materially from management’s current expectations. The words “plan,” “expect,” “target,” “anticipate,” “estimate,” “believe,” “forecast,” “projected,” “guidance,” “looking ahead” and similar expressions identify forward-looking statements. Risk factors for Ross Dress for Less^® (“Ross”) and dd’s DISCOUNTS^® include without limitation, competitive pressures in the apparel or home-related merchandise industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise, including the potential impact from the macro-economic environment, uncertainty in financial and credit markets, and changes in geopolitical conditions; unseasonable weather trends; disruptions in supply chain; lower than planned gross margin, including higher than planned markdowns and higher than expected inventory shortage; greater than planned operating costs; our ability to continue to purchase attractive brand-name merchandise at desirable discounts; our ability to attract and retain personnel with the retail talent necessary to execute our strategies; our ability to effectively operate our various supply chain, core merchandising and other information systems; our ability to improve our merchandising capabilities through the recent implementation of new processes and systems enhancements; achieving and maintaining targeted levels of productivity and efficiency in our distribution centers; and obtaining acceptable new store locations. Other risk factors are detailed in our SEC filings including, without limitation, the Form 10-K for fiscal 2008, Form 10-Qs for fiscal 2009 and Form 8-Ks for fiscal 2009 and 2010.  The factors underlying our forecasts are dynamic and subject to change.  As a result, our forecasts speak only as of the date they are given and do not necessarily reflect our outlook at any other point in time.  We do not undertake to update or revise these forward-looking statements.

Ross Stores, Inc., an S&P 500, Fortune 500 and Nasdaq 100 (ROST) company headquartered in Pleasanton, California, is the nation’s second largest off-price retailer with fiscal 2009 revenues of $7.2 billion.  As of February 27, 2010 the Company operated 953 Ross Dress for Less^® (“Ross”) stores and 54 dd’s DISCOUNTS^® locations, compared to 904 Ross and 53 dd’s DISCOUNTS locations at the end of the same period last year.  Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices.  dd’s DISCOUNTS features a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 70 percent off moderate department and discount store regular prices. Additional information is available at www.rossstores.com.

Ross Stores, Inc.

Condensed Consolidated Statements of Earnings

                             Three Months Ended        Twelve Months Ended

                             January 30,  January 31,  January 30,  January 31,

($000, except stores and
per share data, unaudited)   2010         2009         2010         2009

Sales                        $ 1,979,839  $1,734,112   $ 7,184,213  $6,486,139

Costs and Expenses

 Costs of goods sold         1,462,581    1,321,346    5,327,278    4,956,576

 Selling, general and
 administrative              286,114      255,312      1,130,813    1,034,357

 Interest expense (income),
 net                         2,604        2,531        7,593        (157)

      Total costs and
      expenses               1,751,299    1,579,189    6,465,684    5,990,776

Earnings before taxes        228,540      154,923      718,529      495,363

Provision for taxes on
earnings                     85,657       57,536       275,772      189,922

Net earnings                 $ 142,883    $ 97,387     $ 442,757    $ 305,441

Earnings per share

 Basic                       $ 1.18       $ 0.77       $ 3.60       $ 2.36

 Diluted                     $ 1.16       $ 0.76       $ 3.54       $ 2.33

Weighted average shares
outstanding (000)

 Basic                       121,013      126,580      122,887      129,235

 Diluted                     123,355      128,175      125,014      131,315

Dividends

 Cash dividends declared
 per share                   $ 0.270      $ 0.205      $ 0.490      $ 0.395

Stores open at end of
period                       1,005        956          1,005        956

Ross Stores, Inc.

Condensed Consolidated Balance Sheets

                                              January 30,  January 31,

($000, unaudited)                             2010         2009

Assets

Current Assets

 Cash and cash equivalents                    $ 768,343    $ 321,355

 Short-term investments                       1,754        798

 Accounts receivable                          44,234       41,170

 Merchandise inventory                        872,498      881,058

 Prepaid expenses and other                   58,618       55,241

 Deferred income taxes                        -            14,093

  Total current assets                        1,745,447    1,313,715

Property and equipment, net                   942,999      951,656

Long-term investments                         16,848       38,014

Other long-term assets                        63,339       52,126

Total assets                                  $ 2,768,633  $2,355,511

Liabilities and Stockholders’ Equity

Current Liabilities

 Accounts payable                             $ 658,299    $ 536,745

 Accrued expenses and other                   259,582      238,516

 Accrued payroll and benefits                 218,234      170,878

 Income taxes payable                         51,505       9,120

 Deferred income taxes                        2,894        -

  Total current liabilities                   1,190,514    955,259

Long-term debt                                150,000      150,000

Other long-term liabilities                   174,543      156,726

Deferred income taxes                         96,283       97,157

Commitments and contingencies

Stockholders’ Equity                        1,157,293    996,369

Total liabilities and stockholders’ equity  $ 2,768,633  $2,355,511

Ross Stores, Inc.

Condensed Consolidated Statements of Cash Flows

                                                   Twelve Months Ended

                                                   January 30,  January 31,

($000, unaudited)                                  2010         2009

Cash Flows From Operating Activities

Net earnings                                       $ 442,757    $ 305,441

Adjustments to reconcile net earnings to net cash

provided by operating activities:

 Depreciation and amortization                     159,043      141,802

 Stock-based compensation                          25,746       22,575

 Deferred income taxes                             16,113       23,804

 Tax benefit from equity issuance                  8,582        8,532

 Excess tax benefit from stock-based compensation  (7,291)      (5,973)

 Change in assets and liabilities:

  Merchandise inventory                            8,560        144,237

  Other current assets                             (6,441)      (6,089)

  Accounts payable                                 115,893      (101,682)

  Other current liabilities                        118,980      43,249

  Other long-term, net                             6,442        7,543

  Net cash provided by operating activities        888,384      583,439

Cash Flows From Investing Activities

Additions to property and equipment                (158,487)    (224,418)

Proceeds from sales of property and equipment      10           117

Purchases of investments                           (2,904)      (36,984)

Proceeds from investments                          24,548       42,522

  Net cash used in investing activities            (136,833)    (218,763)

Cash Flows From Financing Activities

Excess tax benefit from stock-based compensation   7,291        5,973

Issuance of common stock related to stock plans    49,393       47,873

Treasury stock purchased                           (6,045)      (4,909)

Repurchase of common stock                         (300,000)    (300,000)

Dividends paid                                     (55,202)     (49,838)

  Net cash used in financing activities            (304,563)    (300,901)

Net increase in cash and cash equivalents          446,988      63,775

Cash and cash equivalents:

  Beginning of year                                321,355      257,580

  End of year                                      $ 768,343    $ 321,355

Supplemental Cash Flow Disclosures

Interest paid                                      $ 9,668      $ 9,676

Income taxes paid                                  $ 201,232    $ 167,478

Non-Cash Investing Activities

Increase (decrease) in fair value of investment
securities                                         $ 1,435      $ (2,514)

Roma Financial (ROMA) and Sterling Banks (STBK) Jointly Announce Merger Agreement

CONTACT:  Roma Financial Corporation
          Peter A. Inverso, President and Chief Executive Officer
          Sharon Lamont, Chief Financial Officer
          609 223 8300

          Sterling Banks, Inc.
          Robert H. King, President
            rking@sterlingnj.com
          R. Scott Horner, Executive Vice President
            shorner@sterlingnj.com
          856 273 5900

Somaxon (SOMX) Announces FDA Approval of Silenor(R) (doxepin) for the Treatment of Insomnia

Mar. 18, 2010 (Business Wire) — Somaxon Pharmaceuticals, Inc. (Nasdaq: SOMX) today announced that the U.S. Food and Drug Administration (FDA) has approved the New Drug Application (NDA) for Silenor^® (doxepin) for the treatment of insomnia characterized by difficulty with sleep maintenance.

Sleep maintenance difficulty, defined as waking frequently during the night and/or waking too early and being unable to return to sleep, is the most commonly reported nighttime symptom of insomnia. Silenor is approved for the treatment of both transient (short term) and chronic (long term) insomnia characterized by difficulty with sleep maintenance in both adults and elderly patients. In clinical trials, Silenor demonstrated maintenance of sleep into the 7^th and 8^th hours of the night, with no meaningful evidence of next day residual effects.

Silenor has not been designated as a controlled substance by the U.S. Drug Enforcement Administration (DEA) because of its demonstrated lack of abuse potential. In addition, in the Silenor clinical development program, no withdrawal effects or other adverse events were observed that were indicative of physical dependence. In Somaxon’s market research, abuse potential/risk of dependence was one of the most common safety concerns cited by patients as a reason for not seeking prescription treatment for insomnia, switching medications or discontinuing treatment. The Silenor clinical trial program demonstrated a favorable safety and tolerability profile, with the overall incidence of adverse events comparable to placebo, a low discontinuation rate and no evidence of tolerance, amnesia or complex sleep behaviors (e.g. sleep driving, sleep eating).

“The approval of Silenor represents an important milestone for Somaxon and will allow us to provide physicians and patients with a highly differentiated treatment option for insomnia,” said Richard W. Pascoe, Somaxon’s president and chief executive officer. “We believe that Silenor’s ability to treat sleep maintenance insomnia into the final hours of the night without meaningful next-day residual effects and without abuse potential uniquely positions Silenor for commercial success.”

“Looking forward, we will continue to execute on our business strategy, focusing on seeking a U.S. commercial partnership, building a U.S. commercial presence and preparing to launch Silenor in the second half of 2010,” continued Pascoe.

“The management of insomnia has important implications for the patient’s overall health, productivity and quality of life,” said Thomas Roth, Ph.D., chief, division head, Sleep Disorders & Research Center, Henry Ford Hospital. “The introduction of Silenor, a sleep promoting medication that works through the histamine system, provides the clinician an important addition to his armamentarium needed for the management of insomnia patients.”

Silenor binds with high affinity to histamine (H1) receptors. This is believed to be the mechanism by which Silenor promotes the maintenance of sleep. This mechanism of action is different from that of any other prescription medication currently approved for the treatment of insomnia.

As result of the NDA approval for Silenor, Somaxon will be required to make a $1.0 million milestone payment to its licensor for Silenor pursuant to its existing license agreement.

Conference Call Information and Forward-Looking Statements

On Thursday, March 18, 2010, the company will host a conference call with interested parties beginning at 9:00 a.m. PT (12:00 p.m. ET). The conference call will be available to interested parties through a live audio Internet broadcast at http://investors.somaxon.com/eventdetail.cfm. The call will also be archived and accessible at this site for approximately two weeks. Alternatively, callers may participate in the conference call by dialing (888) 549-7750 (domestic) or (480) 629-9866 (international). A telephonic replay will be available for approximately one week following the conclusion of the call by dialing (800) 406-7325 (domestic) or (303) 590-3030 (international), and entering passcode 4271296.

Discussion during the conference call may include forward-looking statements regarding such topics as, but not limited to, the FDA’s approval of Silenor, Somaxon’s commercialization plans for Silenor, the company’s financial status and performance, and any comments the company may make about its future plans or prospects in response to questions from participants on the conference call.

About Silenor^®

Silenor is a low-dose (3 mg, 6 mg) oral tablet formulation of doxepin that is patent protected for use in insomnia. The Silenor NDA included all of the data from the company’s development program, including data from Somaxon’s clinical trial program that evaluated 1,017 adult and elderly subjects with chronic and transient insomnia.

For more information, please see the complete Silenor Prescribing Information, including the Medication Guide, at www.silenor.com or www.somaxon.com.

Important Safety Information

Because sleep disturbances may be caused by underlying physical and/or psychiatric disorders, symptomatic treatment of insomnia should be initiated only after a careful evaluation of the patient. The failure of insomnia to remit after 7-10 days of treatment may indicate the presence of a primary psychiatric and/or medical illness that should be evaluated.

Patients should only take Silenor when they are prepared to get a full night’s sleep. Silenor should be taken within 30 minutes of bedtime, and patients should confine their activities after ingestion to those necessary to prepare for bed. Patients should not consume alcohol or take other drugs that cause drowsiness with Silenor. Co-administration of monoamine oxidase inhibitors (MAOIs) with Silenor has not been studied and is not recommended. Patients should not take Silenor if they have untreated narrow angle glaucoma, severe urinary retention, severe sleep apnea or hypersensitivity to any of the ingredients in Silenor. Patients should avoid engaging in hazardous activities such as operating a motor vehicle or heavy machinery at night after taking Silenor, and patients should be cautioned about potential impairment in the performance of such activities that may occur during the day following ingestion. Before taking Silenor, patients should tell their doctors if they have a history of depression, mental illness or suicidal thoughts.

Hypnotics have been associated with complex behaviors such as sleep driving, preparing and eating food, making phone calls, or having sex. Drowsiness, upper respiratory tract infections and nausea were the most common adverse events observed in Silenor clinical trials.

About Insomnia

It is estimated that approximately 70 million American adults are affected by insomnia – characterized by difficulty falling asleep, waking frequently during the night, waking too early and not being able to return to sleep, or waking up not feeling refreshed. One study has found that only 20% of insomnia sufferers are being treated with a prescription sleep medication.

Results from a recent National Sleep Foundation Sleep in America poll reported that respondents experienced the following at least a few nights a week:

• 65% experience insomnia symptoms,
• nearly 50% wake up feeling unrefreshed,
• 42% awake often during the night, and
• nearly 30% wake up too early and can not get back to sleep.

An estimated 20% to 40% of all adults complain of acute, or transient, insomnia, generally defined as a complaint lasting several days up to a couple of weeks, while 10% to 15% complain of chronic insomnia, generally defined as a complaint lasting approximately four weeks or longer.

The negative health consequences of insomnia are becoming better understood. Studies have shown that insomnia lasting more than four weeks is associated with a wide range of adverse health conditions, including mood disturbances, depression, difficulties with concentration and memory, and certain cardiovascular, pulmonary and gastrointestinal disorders. Chronic sleep deprivation has also been associated with an increased risk of diabetes and obesity. One study showed that when normal sleep was restricted by as little as two hours per night across two weeks, the affected person experienced a significant decrease in cognitive function that resulted in reaction time and other performance measures resembling those of a person who stayed up for 48 hours straight.

About Somaxon Pharmaceuticals, Inc.

Headquartered in San Diego, CA, Somaxon Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the in-licensing, development and commercialization of proprietary branded pharmaceutical products and late-stage product candidates for the treatment of diseases and disorders in the central nervous system therapeutic area. Somaxon’s product Silenor^® (doxepin) has been approved by the FDA for the treatment of insomnia characterized by difficulty with sleep maintenance.

For more information, please visit the company’s web site at www.somaxon.com.

Somaxon cautions readers that statements included in this press release and the conference call that are not a description of historical facts are forward-looking statements. For example, statements regarding the potential commercialization of Silenor and the potential to establish a commercial partnership or other strategic transaction are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Somaxon that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Somaxon’s business, including, without limitation, Somaxon’s ability to successfully commercialize Silenor; Somaxon’s ability to raise sufficient capital and meet its obligations to parties under financing agreements, and the impact of any such financing activity on the level of Somaxon’s stock price; the impact of any inability to raise sufficient capital to fund ongoing operations, including the potential to be required to restructure the company or to be unable to continue as a going concern; the potential to enter into and the terms of any commercial partnership or other strategic transaction relating to Silenor; the scope, validity and duration of patent protection and other intellectual property rights for Silenor; whether the approved label for Silenor is sufficiently consistent with such patent protection to provide exclusivity for Silenor; Somaxon’s ability to operate its business without infringing the intellectual property rights of others; the timing and results of non-clinical studies and other post-approval regulatory requirements for Silenor, and the FDA’s agreement with Somaxon’s interpretation of such results; the market potential for insomnia treatments, and Somaxon’s ability to compete within that market; inadequate therapeutic efficacy or unexpected adverse side effects relating to Silenor that could delay or prevent commercialization, or that could result in recalls or product liability claims; the ability of Somaxon to ensure adequate and continued supply of Silenor to successfully launch commercial sales or meet anticipated market demand; other difficulties or delays in development, testing, manufacturing and marketing of Silenor; and other risks detailed in Somaxon’s prior press releases as well as in its periodic filings with the Securities and Exchange Commission.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Somaxon undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.

Document Security Systems, Inc. (DMC) Awarded New European and Canadian Digital Prism Technology Patents

ROCHESTER, N.Y., March 17 /PRNewswire-FirstCall/ — Document Security Systems, Inc. (NYSE Amex: DMC; “DSS”), a world leader in the development and manufacturing of products and packaging containing optical deterrent and authentication technologies that help prevent counterfeiting and brand fraud from the use of desktop scanners and copiers, is pleased to announce today that it has been issued nine new patents covering seven European Countries and Canada.

All patents are associated with DSS’s new digital “Prism” authentication and anti-counterfeiting technology which was recently highlighted as a “Covert security technology for plastic smart cards” on page 39 of a comprehensive industry white paper by Imperial Capital entitled, “Anti-Counterfeiting & Brand Protection.  A copy of the white paper may be found here: http://www.imperialcapital.com/rpt/Industry/user/f554d9e1.PDF.

In addition to “Smart Cards,” Prism also can protect labels, packaging, documents, currency and vital records.

Michael Caton, Chief Technology Officer of Document Security Systems, Inc., stated, “Based on our testing, Prism technology is the most powerful anti-scanning technology on the market.  That’s important because according to the U.S. Secret Service, scanning is the most prevalent method used by counterfeiters.  Prism has never been captured by any scanning device regardless of the resolution which makes it 100% effective as an inexpensive authentication technology for all brand owners. The technology is inexpensive since it is easily applied in the traditional or digital print production process and it does not require expensive, slow, hardware and software add-ons like competitors are offering.”

Patrick White, CEO, stated, “I am really proud of the innovation of our engineers and our legal team at Harter Secrest & Emery LLP for their excellent work on our valuable and growing intellectual property portfolio.”

About Document Security Systems, Inc

Document Security Systems is a technology company in the security and protection services sector which develops and manufactures products and packaging containing patented and patent pending optical deterrent technologies that help prevent counterfeiting and brand fraud from the use of the most advanced scanners, copiers and imaging systems in the market. The company owns over 30 different patented and patent-pending technologies and products which protect valuable documents and printed products from counterfeiters and identity thieves. The company has 3 manufacturing facilities which produce secure printing, packaging and plastic ID cards.  Document Security Systems’ customers, which include international governments, major corporations and world financial institutions, use its covert and overt technologies to protect a number of applications including, but not limited to, currency, vital records, brand protection, ID Cards, Smart Cards internet commerce, passports, gift certificates and packaging.  Document Security Systems’ strategy is to become the world’s leading producer of cutting-edge security technologies for paper, plastic and electronically generated printed assets

More information about Document Security Systems, Inc. and its products and services can be found at http://www.documentsecurity.com/, http://www.plasticprintingprofessionals.com/, http://www.protectedpaper.com/, http://www.dpirochester.com/ and http://www.premiercustompkg.com/.

Safe Harbor Statement

This release contains forward-looking statements regarding expectations for future financial performance, which involve uncertainty and risk. It is possible the Company’s future financial performance may differ from expectations due to a variety of factors including, but not limited to, changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The Company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.

FSI (FSII) Receives ORION(R) Single Wafer Cleaning System Order from Major Manufacturer

Mar. 17, 2010 (Business Wire) — FSI International, Inc. (Nasdaq: FSII), a leading manufacturer of wafer cleaning systems used in the fabrication of integrated circuits, announced today that it received an order for an FSI ORION^® system with ViPR™ technology from a major semiconductor manufacturer based in Asia. The FSI ORION system will be used for the development and qualification of front-end-of-line (FEOL) cleaning processes in advanced IC manufacturing. After a comparison of competitive alternatives, this customer determined that the FSI ORION ViPR technology was the ideal solution for meeting its anticipated resist stripping requirements. FSI expects to ship this evaluation FSI ORION single wafer cleaning system to this customer during its fiscal 2010 third quarter.

IC manufacturers are finding that the unique closed chamber design of the FSI ORION system permits safe use of aggressive, high-temperature ViPR process technology for all-wet removal of highly implanted photoresist. FSI’s differentiated ViPR technology minimizes material loss and lowers defectivity. The FSI ORION process chamber design, with an integrated spray bar, improves process uniformity, shortens process time, reduces chemical consumption and enhances particle removal.

“With this order we have accomplished a key fiscal 2010 objective to place FSI ORION systems at strategic logic, memory and foundry producers,” said Don Mitchell, FSI chairman and chief executive officer. “We have taken a very deliberate approach in the development of our single wafer cleaning technology, focusing on translating our considerable experience and expertise into a tool that will meet the industry’s advancing surface conditioning requirements,” continued Mitchell.

About FSI

FSI International, Inc. is a global supplier of surface conditioning equipment, technology and support services for microelectronics manufacturing. Using the company’s broad portfolio of cleaning products, which include batch and single-wafer platforms for immersion, spray, vapor and cryokinetic technologies, customers are able to achieve their process performance flexibility and productivity goals. The company’s support services programs provide product and process enhancements to extend the life of installed FSI equipment, enabling worldwide customers to realize a higher return on their capital investment. For more information, visit FSI’s website at http://www.fsi-intl.com.

Somanetics (SMTS) Reports First Quarter 2010 Results

Mar. 17, 2010 (PR Newswire) —

TROY, Mich., March 17 /PRNewswire-FirstCall/ —

First Quarter Highlights

    --  Net revenues of $13.1 million, up 18 percent.
    --  Income before income taxes of $3.1 million, up 45 percent.
    --  Net income of $2.0 million, up 57 percent; $0.16 per diluted share.
    --  Somanetics adjusts full-year guidance to net revenues increasing 12 to
        15 percent over 2009 to approximately $56 million to $57.5 million, and
        operating margin to be approximately 17 to 20 percent, excluding
        litigation expense.

Somanetics Corporation (Nasdaq: SMTS) reported net revenues of $13.1 million for the first quarter ended February 28, 2010, an 18 percent increase from $11.2 million in the same period of 2009.

U.S. net revenues increased 20 percent to $10.5 million from $8.7 million in the same period last year. International net revenues increased 11 percent to $2.7 million from $2.4 million.

First quarter income before income taxes was $3.1 million, compared to $2.1 million for the first quarter of 2009. Net income was $2.0 million, or $0.16 per diluted share, compared with net income of $1.3 million, or $0.10 per diluted share, in the first quarter of 2009.

Gross margin was 87 percent in the first quarter, compared with 86 percent in the first quarter of 2009. As of February 28, 2010, Somanetics’ cash, marketable securities and long-term investments balance was $76.8 million, with no borrowings.

In the first quarter Somanetics purchased 401,992 common shares pursuant to its stock repurchase plan for approximately $6.4 million including commissions. Somanetics has approximately $7.1 million remaining under its $45 million stock repurchase program.

“We are off to a solid start for the year with sales and earnings exceeding our internal plans for the first quarter,” said Bruce Barrett, Somanetics’ president and chief executive officer.

“We also are continuing to execute our investments to increase the size of our U.S. field sales and clinical education team and implement technological advances that promise to further our lead in this developing marketplace.”

Company to Participate in Upcoming Medical Conferences

Somanetics will participate in approximately 20 medical conferences during the second quarter, including the 2010 annual meeting of the American Association for Thoracic Surgery and various regional and state cardiothoracic, perfusion, anesthesia, pediatric cardiac and neonatology association meetings. At the International Anesthesia Research Society (IARS) meeting this month, a number of abstracts will be presented on the use of the INVOS System in cardiac and carotid endarterectomy surgery.

At the Anesthesia Patient Safety Foundation’s Excellence in Safety Research Symposium, being held in conjunction with the IARS, John Murkin, MD will receive the “Excellence in Device Innovations” award and speak on the topic of Clinical Uses of Non-Invasive Cerebral Oximetry.

New Clinical Data Published

In January, Sean Bailey, MD and colleagues from New York University School of Medicine published study results in the American Journal of Perinatology. They studied cerebral and somatic regional saturation of oxygen (rSO2) using the INVOS System before and after transfusion of packed red blood cells (PBRCs) and found that transfusions of PBRCs in anemic preterm infants were associated with significant increases in both cerebral and splanchnic (abdominal) oxygen saturation, an indication of increased oxygen delivery. Additionally, neither cerebral nor splanchnic (abdominal) rSO2 correlated with hemoglobin concentration in the blood, a relatively insensitive marker that is sometimes used to evaluate the need for transfusion. Because there currently is no universal method for determining when a transfusion is necessary, the study highlights the importance of monitoring organ perfusion as a means of evaluating the benefits of transfusion in this population. These results were essentially the same as those of Carlo Dani, MD and colleagues at Careggi University Hospital in Florence, Italy, whose publication in the journal Transfusion appeared at the same time.

In addition, Somanetics expects other articles will be published in the next few months, on such topics as the establishment of rSO2 baseline values for cerebral, peri-renal and abdominal monitoring in neonates and the management of surgical neonatal patients with necrotizing enterocolitis.

“We believe that peer-reviewed articles will continue to build the foundation of clinical evidence of the benefits of using the INVOS Cerebral/Somatic Oximeter in the neonatal ICU,” Barrett said.

Technological Advances

Somanetics has developed a sensor for use in the neonatal ICU that has features that are important to the customers including a smaller size, more flexibility and a lighter weight than the current model. The sensor is expected to be introduced to customers beginning in the second quarter.

Work is continuing on the development of a single integrated INVOS System and Vital Sync System device for bedside data collection, storage, display and analysis. In addition, pursuant to the rights Somanetics recently obtained to new cerebral autoregulation technology developed at The Johns Hopkins University, Somanetics is working on the integration of the technology into the INVOS System, which would yield the first noninvasive monitor providing cerebral autoregulation data for routine clinical use.

Business Outlook

Based on its first quarter results and the current outlook for the year, Somanetics is adjusting its financial guidance for fiscal year 2010. Somanetics is currently forecasting:

    --  Fiscal 2010 net revenues increasing 12 to 15 percent over 2009 to
        approximately $56 million to $57.5 million; Somanetics previously guided
        to revenue growth of 12 percent.
    --  Gross margin of approximately 87 percent and operating margin of
        approximately 17 to 20 percent, excluding litigation expense; Somanetics
        previously guided to gross margin of approximately 87 percent and
        operating margin of approximately 17 percent, excluding litigation
        expense.

Current estimates are based on market and economic conditions, including the assumption that the recovery in capital spending at hospitals will be slow to develop. These estimates reflect management’s plan to invest in the clinical research, medical education and research and development projects focused on the pediatric and neonatal ICU markets, the development of new technologies and the addition of employees in sales, research and development and administration. Somanetics undertakes no obligation to update its estimates.

Somanetics to Host Conference Call

Somanetics will webcast its 2010 first quarter conference call at 10:00 a.m. (ET) today. To join the web cast, visit the Presentations & Webcasts page in the Investor Relations section of Somanetics’ website at www.somanetics.com and click on the “Q1 2010 Somanetics Corporation Conference Call” link. The call also will be archived on the website.

About Somanetics

Somanetics Corporation (Nasdaq: SMTS) develops, manufactures and markets the INVOS® Cerebral/Somatic Oximeter which noninvasively provides accurate, real-time blood oxygen measurements in patients greater than 2.5 kilograms, and trend monitoring of this parameter for individuals of any weight. The INVOS System is the only commercially-available cerebral/somatic oximeter proven to improve outcomes. Surgeons, anesthesiologists and other medical professionals can use data provided by the INVOS System, in conjunction with other available data, to identify oxygen imbalances in brain or other body tissue beneath the sensor and take necessary corrective action, potentially improving patient outcomes and reducing the costs of care. The INVOS System is the clinical reference standard in cerebral/somatic oximetry, with a 12-year market track record, more than 750 clinical references and implementation at approximately 800 U.S. hospitals. Somanetics also develops, manufactures and markets the Vital Sync(TM) System, a device that integrates data from bedside devices into a single system for enhanced patient assessment and decision making, data management and data storage. Somanetics supports its customers through a direct U.S. sales force and clinical education team. Covidien markets INVOS System products in Europe, Canada, the Middle East and South Africa and Edwards Lifesciences represents INVOS System products in Japan. For more information visit www.somanetics.com.

Safe-Harbor Statement

Except for historical information contained herein, the matters discussed in this news release, including financial guidance for fiscal year 2010, are forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Actual results may differ significantly from results discussed in the forward-looking statements and may be affected by, among other things, economic conditions in general and in the healthcare market, including the current global economic difficulties, the demand for and market acceptance of our products in existing market segments and in new market segments we plan to pursue, our current dependence on the INVOS Cerebral/Somatic Oximeter and disposable sensors, our dependence on distributors for a substantial portion of our sales, our dependence on single-source suppliers, potential competition, the effective management of our growth, our ability to attract and retain key personnel, the potential for products liability claims, government regulation of our business, future equity compensation expenses, the challenges associated with developing new products and obtaining and maintaining regulatory approvals if necessary, research and development activities, the lengthy sales cycle for our products, sales employee turnover, changes in our actual or estimated future taxable income, changes in accounting rules, enforceability and the costs of enforcement of our patents, potential infringements of others’ patents and the other factors set forth from time to time in Somanetics’ Securities and Exchange Commission filings, including Somanetics’ 2009 Annual Report on Form 10-K filed on February 3, 2010.

(Tables to follow)

                              SOMANETICS CORPORATION
                                  BALANCE SHEETS

                                                 February 28,   November 30,
                                                    2010           2009
                                                 ------------   ------------
    ASSETS                                       (Unaudited)    (Audited)
    CURRENT ASSETS:
      Cash and cash equivalents                 $24,660,515    $28,964,273
      Marketable securities                       8,381,289     24,763,854
      Accounts receivable                         7,374,943      8,878,942
      Inventory                                   3,336,832      3,622,531
      Prepaid expenses                              545,819      1,087,450
      Accrued interest receivable                    94,483        138,099
      Deferred tax asset - current                   51,060         51,060
                                                     ------         ------
        Total current assets                     44,444,941     67,506,209
                                                 ----------     ----------
    PROPERTY AND EQUIPMENT (at cost):
      Demonstration and no capital cost
       sales equipment at customers               4,407,883      4,285,163
      Machinery and equipment                     2,058,911      1,886,582
      Furniture and fixtures                        990,817        545,796
      Leasehold improvements                        454,423        197,450
                                                    -------        -------
        Total                                     7,912,034      6,914,991
      Less accumulated depreciation and
       amortization                              (3,787,422)    (3,966,645)
                                                 -----------    -----------
        Net property and equipment                 4,124,612     2,948,346
                                                   ---------     ---------
    OTHER ASSETS:
      Long-term investments                       43,792,506    26,004,995
      Deferred tax asset - non-current             2,961,381     2,795,963
      Intangible assets, net                         230,924       234,003
      Goodwill                                     1,783,712     1,783,712
      Other                                           15,000        15,000
                                                      ------        ------
        Total other assets                        48,783,523    30,833,673
                                                  ----------    ----------
    TOTAL ASSETS                                 $97,353,076  $101,288,228
                                                 ===========  ============

    LIABILITIES AND SHAREHOLDERS' EQUITY
    CURRENT LIABILITIES:
      Accounts payable                            $1,301,686    $1,466,497
      Accrued liabilities                         $  703,021    $1,788,552
      Deferred rent                                  102,153             -
                                                     -------           ---
        Total current liabilities                  2,106,860     3,255,049
                                                   ---------     ---------
    COMMITMENTS AND CONTINGENCIES
    SHAREHOLDERS' EQUITY:
      Preferred shares; authorized, 1,000,000
       shares of $.01 par value;
       no shares issued or outstanding                     -             -
      Common shares; authorized, 20,000,000
       shares of $.01 par value; issued and
       outstanding, 11,909,200 shares at
       February 28, 2010, and 12,104,462 shares
       at November 30, 2009                          119,092       121,045
      Additional paid-in capital                  92,864,993    97,696,229
      Retained Earnings                            2,262,131       215,905
                                                   ---------       -------
        Total shareholders' equity                95,246,216    98,033,179
                                                  ----------    ----------
    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY   $97,353,076  $101,288,228
                                                 ===========  ============

                           SOMANETICS CORPORATION
                          STATEMENTS OF OPERATIONS
                                (Unaudited)

                                                    For the Three-Month
                                                       Periods Ended
                                                 --------------------------
                                                 February 28,  February 28,
                                                     2010          2009
                                                 ------------  ------------

    NET REVENUES                                 $13,139,684   $11,155,354
    COST OF SALES                                  1,745,454     1,580,481
                                                   ---------     ---------
      Gross Margin                                11,394,230     9,574,873
                                                  ----------     ---------

    OPERATING EXPENSES:
      Research, development and engineering          613,153       423,161
      Selling, general and administrative          7,976,276     7,314,699
                                                   ---------     ---------
        Total operating expenses                   8,589,429     7,737,860
                                                   ---------     ---------

    OPERATING INCOME                               2,804,801     1,837,013
                                                   ---------     ---------

    OTHER INCOME:
      Interest income                                252,468       271,386
                                                     -------       -------
        Total other income                           252,468       271,386
                                                     -------       -------
    INCOME BEFORE INCOME TAXES                     3,057,269     2,108,399
                                                   ---------     ---------

    INCOME TAX EXPENSE                            (1,011,044)     (806,220)
                                                  -----------     ---------

    NET INCOME                                    $2,046,225    $1,302,179
                                                  ==========    ==========

    NET INCOME PER COMMON SHARE - BASIC           $      .17    $      .11
                                                         ===           ===
    NET INCOME PER COMMON SHARE - DILUTED         $      .16    $      .10
                                                         ===           ===

    WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC   12,029,231    12,038,368
                                                  ==========    ==========

    WEIGHTED AVERAGE SHARES OUTSTANDING
     - DILUTED                                    12,907,776    12,898,920
                                                  ==========    ==========

KongZhong (KONG) Q4 profit soar 286 pct on year

BEIJING, Mar. 17, 2010 (Xinhua News Agency) — KongZhong (NASDAQ:KONG) Corp. (KONG.NASDAQ), a China-based mobile Internet company, on Wednesday announced net profits of 2.02 million US dollars for the final quarter of 2009, which represented a surge of 286 percent year on year.

The following table details from KongZhong’s financial results for the fourth quarter and the whole year of 2009: Total revenue (Million USD) Growth on year (%) Gross margin (%) Net profit (Million USD) Growth on year (%) Q4, 2009 34.3 28 46 2.02 286 2009 131.3 – 48 12.58 –

KongZhong achieved total revenues of 131.3 million dollars in 2009, including 98.24 million dollars from wireless value-added services, 27.3 million dollars from mobile phone games business, and 5.76 million dollars from wireless Internet business.

The company forecasts that its revenue for the first quarter of this year will top 37.5 million dollars, including 24 million dollars from wireless value-added services, 8.5 million dollars from mobile phone game business, 1 million dollars from wireless Internet business, and 4 million dollars from its Internet mobile phone game business unit, which was established after the acquisition of Shanghai Dacheng Network. (Edited by Luo Jingjing, luojj@xinhua.org)

ABRAXANE (ABII) Meets Primary Endpoint in Phase 3 Trial for Advanced Non-Small Cell Lung Cancer

Mar. 17, 2010 (Business Wire) — Abraxis BioScience, Inc. (NASDAQ:ABII) today announced that its randomized registrational Phase 3 clinical trial comparing ABRAXANE^® (protein-bound paclitaxel) with Taxol^® (paclitaxel) injection, both in combination with carboplatin, met the study’s primary endpoint by demonstrating that ABRAXANE showed a significant improvement in overall response rate as compared to Taxol, in the first-line treatment of patients with advanced non-small cell lung cancer (NSCLC), as assessed by independent radiologist review.

The Phase 3 trial completed enrollment of 1,052 patients in July 2009 at 102 sites globally and was led by principal investigator Mark Socinski, M.D., at the University of North Carolina Lineberger Comprehensive Cancer Center. It is one of the largest NSCLC clinical studies to be conducted. “This is exciting news for lung cancer patients and has important implications not only in late stage cancer but also in earlier stages of the disease,” Socinski said. The data will be submitted for consideration as a late breaking presentation at the upcoming American Society of Clinical Oncology (ASCO) meeting.

This trial is the subject of a special protocol assessment (SPA) with the FDA, which means that the design, clinical endpoints and statistical analyses of the trial have been previously agreed upon by the FDA. Specifically, the FDA agreed that the demonstration of a statistically superior response rate of the ABRAXANE and carboplatin combination over the Taxol and carboplatin combination would be sufficient to submit a supplemental new drug application (sNDA)(as a 505(b)(2) submission) for approval of ABRAXANE in combination with carboplatin for first line NSCLC.

“NSCLC is the most common form of lung cancer and is very difficult to treat. We are extremely pleased with the data from this Phase 3 combination study that demonstrated superiority of ABRAXANE over Taxol as we seek to bring new treatment options to these patients,” said Patrick Soon-Shiong, M.D., Executive Chairman and founder of Abraxis BioScience. “We anticipate filing an sNDA to the FDA during 2011 for what will be the second indication for ABRAXANE in the U.S.”

NSCLC accounts for approximately 85% of all lung cancer cases. The American Cancer Society (ACS) estimates that approximately 219,440 people will be diagnosed with lung cancer in the United States in 2009, and that approximately 159,000 deaths occur each year due to this cancer.ⁱ

About ABRAXANE^®

ABRAXANE is a solvent-free chemotherapy treatment option for metastatic breast cancer which was developed using Abraxis BioScience’s proprietary nab^® technology platform. This protein-bound chemotherapy agent combines paclitaxel with albumin, a naturally-occurring human protein. By wrapping the albumin around the active drug, ABRAXANE can be administered to patients at higher doses, delivering higher concentrations of paclitaxel to the tumor site than solvent-based paclitaxel. ABRAXANE is currently in various stages of investigation for the treatment of the following cancers: expanded applications for metastatic breast, non-small cell lung, malignant melanoma, pancreatic and gastric.

The U.S. Food and Drug Administration approved ABRAXANE for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in January 2005 for the treatment of breast cancer after failure of combination chemotherapy for metastatic disease or relapse within six months of adjuvant chemotherapy. Prior therapy should have included an anthracycline unless clinically contraindicated. For the full prescribing information for ABRAXANE please visit www.abraxane.com.

IMPORTANT SAFETY INFORMATION

The use of ABRAXANE has not been studied in patients with hepatic or renal dysfunction. In the randomized controlled trial, patients were excluded for baseline serum bilirubin >1.5 mg/dL or baseline serum creatinine >2 mg/dL.

ABRAXANE can cause fetal harm when administered to a pregnant woman. Women of childbearing potential should be advised to avoid becoming pregnant while receiving treatment with ABRAXANE.

Men should be advised to not father a child while receiving treatment with ABRAXANE.

It is recommended that nursing be discontinued when receiving ABRAXANE therapy.

ABRAXANE contains albumin (human), a derivative of human blood.

Caution should be exercised when administering ABRAXANE concomitantly with known substrates or inhibitors of CYP2C8 and CYP3A4.

ABRAXANE therapy should not be administered to patients with metastatic breast cancer who have baseline neutrophil counts of less than 1,500 cells/mm3. It is recommended that frequent peripheral blood cell counts be performed on all patients receiving ABRAXANE. Patients should not be retreated with subsequent cycles of ABRAXANE until neutrophils recover to a level >1,500 cells/mm3 and platelets recover to a level >100,000 cells/mm3

In the case of severe neutropenia (<500 cells/mm3 for 7 days or more) during a course of ABRAXANE therapy, a dose reduction for subsequent courses is recommended.

Sensory neuropathy occurs frequently with ABRAXANE.

If grade 3 sensory neuropathy develops, treatment should be withheld until resolution to grade 1 or 2 followed by a dose reduction for all subsequent courses of ABRAXANE.

Severe cardiovascular events possibly related to single-agent ABRAXANE occurred in approximately 3% of patients in the randomized trial. These events included chest pain, cardiac arrest, supraventricular tachycardia, edema, thrombosis, pulmonary thromboembolism, pulmonary embolism, and hypertension.

In the randomized metastatic breast cancer study, the most important adverse events included alopecia (90%), neutropenia (all cases 80%; severe 9%), sensory neuropathy (any symptoms 71%; severe 10%), asthenia (any 47%; severe 8%), myalgia/arthralgia (any 44%; severe 8%), anemia (all 33%; severe 1%), infections (24%), nausea (any 30%; severe 3%), vomiting (any 18%; severe 4%), diarrhea (any 27%; severe <1%), and mucositis (any 7%; severe <1%).

Other adverse reactions have included ocular/visual disturbances (any 13%; severe 1%), fluid retention (any 10%; severe 0%), hepatic dysfunction (elevations in bilirubin 7%, alkaline phosphatase 36%, AST [SGOT] 39%), renal dysfunction (any 11%; severe 1%), thrombocytopenia (any 2%; severe <1%), hypersensitivity reactions (any 4%; severe 0%), cardiovascular reactions (severe 3%), and injection site reactions (<1%). During postmarketing surveillance, rare occurrences of severe hypersensitivity reactions have been reported with ABRAXANE.

About Abraxis BioScience, Inc.

Abraxis BioScience is a fully integrated global biotechnology company dedicated to the discovery, development and delivery of next-generation therapeutics and core technologies that offer patients safer and more effective treatments for cancer and other critical illnesses. The company’s portfolio includes chemotherapeutic compound (ABRAXANE^®), which is based on the company’s proprietary tumor targeting technology known as the nab^® platform. The first FDA approved product to use this nab platform, ABRAXANE, was launched in 2005 for the treatment of metastatic breast cancer and is now approved in 39 countries. The company continues to expand the nab platform through a robust clinical program and deep product pipeline. Abraxis trades on the NASDAQ Global Market under the symbol ABII. For more information about the company and its products, please visit www.abraxisbio.com.

FORWARD-LOOKING STATEMENTS

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements regarding the clinical development plan, and the timing and scope of clinical studies and trials, for ABRAXANE and the global commercialization of ABRAXANE. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the fact that results from pre-clinical studies may not be predictive of results to be obtained in other pre-clinical studies or future clinical trials; delays in commencement and completion of clinical studies or trials, including slower than anticipated patient enrollment and adverse events occurring during the clinical trials; decisions by regulatory authorities regarding whether and when to approve ABRAXANE or product candidates for various indications as well as their decisions regarding labeling and other matters that could affect the availability or commercial potential of ABRAXANE and other products and product candidates; unexpected safety, efficacy or manufacturing issues with respect to ABRAXANE or product candidates; the need for additional data or clinical studies for ABRAXANE or product candidates; regulatory developments (domestic or foreign) involving the company’s manufacturing facilities; the market adoption and demand of ABRAXANE and other products, the costs associated with the ongoing launch of ABRAXANE; research and development associated with the nab^® technology platform; the impact of pharmaceutical industry regulation; the impact of competitive products and pricing; the availability and pricing of ingredients used in the manufacture of pharmaceutical products; the ability to successfully manufacture products in a time-sensitive and cost effective manner; the acceptance and demand of new pharmaceutical products; and the impact of patents and other proprietary rights held by competitors and other third parties. Additional relevant information concerning risks can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2009 and in other documents it has filed with the Securities and Exchange Commission.

The information contained in this press release is as of the date of this release. Abraxis assumes no obligations to update any forward-looking statements contained in this press release as the result of new information or future events or developments.

Optimal Group (OPMR) Enters Into Support Agreement With Management of WowWee Group

MONTREAL, QUEBEC — (Marketwire) — 03/17/10 — Optimal Group Inc. (NASDAQ: OPMR) today announced that it has entered into a support agreement with a corporation established by Richard Yanofsky, President of WowWee Canada Inc., and Peter Yanofsky, President of WowWee USA, Inc., for the purpose of making an offer to acquire, by way of a take-over bid to Optimal Group shareholders, all of the outstanding Class “A” shares of the Company, including shares issuable upon the conversion, exchange or exercise of options and warrants, at a price of US$2.40 per share in cash. WowWee Canada Inc. and WowWee USA, Inc. are wholly-owned subsidiaries of Optimal Group. The offer represents a premium of approximately 50% over the closing price of the Class “A” shares of US$1.60 on the NASDAQ, on March 16, 2010. Under the terms of the support agreement, Optimal Group may solicit, respond to and consider competing third-party proposals until closing of the offer.

As a result of Richard and Peter Yanofsky’s involvement with the offeror, the offer will be an “insider bid” and a going private transaction for purposes of applicable securities laws. Accordingly, the Board of Directors of the Company established a special committee of independent directors to review the terms of the offer and to supervise the preparation of a formal valuation of the Class “A” shares.

The special committee retained PricewaterhouseCoopers LLP as independent valuator to prepare a formal valuation of the Class “A” shares. Based on the information considered and valuation approaches utilized, PricewaterhouseCoopers LLP concluded that the fair market value of the shares was in the range of US$2.01 to US$2.55 per share. The special committee also retained Genuity Capital Markets to act as financial advisor to Optimal Group and the special committee and Ogilvy Renault LLP as legal advisor to the special committee to advise it in connection with the offer. Genuity Capital Markets provided an opinion to the Board of Directors of the Company and to the special committee that, based upon and subject to the analyses, assumptions, qualifications and limitations set out in such opinion, the consideration offered pursuant to the offer is fair, from a financial point of view, to all shareholders of the Company (other than the insiders and related entities making the offer).

The Board of Directors of the Company, after consultation with its legal and financial advisors, and following the receipt and review of recommendations from its special committee, the opinion of its financial advisor as to the fairness of the offer, from a financial point of view, to shareholders of the Company (other than the insiders and related entities making the offer) and the independent formal valuation prepared by PricewaterhouseCoopers, determined that the offer is in the best interests of the Company and is fair, from a financial point of view, to the shareholders of the Company (other than the insiders and related entities making the offer), approved the execution of the support agreement and resolved to recommend that the shareholders of the Company (other than the insiders and related entities making the offer) accept the offer.

The offer will be subject to customary conditions including the valid deposit under the offer of at least 66 2/3% of the outstanding Class “A” shares and the absence of a material adverse effect to the Company and its subsidiaries.

Under the terms of the support agreement, the Company has agreed to pay a termination fee of approximately US$500,000 to the offeror if the support agreement is terminated in certain circumstances.

Under the terms of the support agreement, the Company has retained the ability to solicit, respond to and consider competing acquisition proposals which the Board of Directors of the Company believes, in the exercise of its fiduciary duties, represent, or could reasonably be expected to lead to, a superior proposal, and to terminate the support agreement in the event the Company proposes to enter into any agreement with respect to a superior proposal, subject to the offeror’s right to match or be paid the termination fee.

The take-over bid circular containing the full terms of the offer is expected to be mailed to shareholders on or before March 31, 2010. The full text of the valuation prepared by PricewaterhouseCoopers and the fairness opinion prepared by Genuity Capital Markets, which the shareholders are urged to read in their entirety, will be set forth in the directors’ circular. The offer will remain open for acceptance for a period of not less than 35 days following the mailing of the offer.

In connection with the offer, Neil S. Wechsler, Co-Chairman and Chief Executive Officer, Holden L. Ostrin, Co-Chairman, and Gary S. Wechsler, Chief Financial Officer, of the Company have entered into an agreement with the offeror pursuant to which they or a corporation controlled by them will acquire all of the outstanding shares of Optimal Merchant Services Inc. (formerly Optimal Payments Corp.), a wholly-owned subsidiary of Optimal Group, in partial satisfaction of the severance payments that will become owing to them on closing of the transactions contemplated in the support agreement. These executives have agreed to enter into such agreement with any other person making an offer for the Class “A” shares of the Company.

The offer described in this press release has not yet commenced, and this press release does not constitute an offer to purchase or a solicitation of an offer to sell any securities. At the time the expected tender offer is commenced, the offeror will file a tender offer statement with the U.S. Securities and Exchange Commission and mail and file offer materials as required by Canadian and U.S. laws, and the Company will also file required solicitation/recommendation materials. The tender offer materials will contain important information and shareholders of the Company should read this information carefully before making any decision about the tender offer.

The tender offer materials, certain other offer materials and the solicitation/recommendation materials will be sent to all shareholders of the Company free of charge and will also be available free of charge on the SEC’s website at www.sec.gov and on SEDAR at www.sedar.com.

For information about Optimal Group, please visit the Company’s website at www.optimalgrp.com.

Contacts:
Optimal Group Inc.
Leon P. Garfinkle
Senior Vice President and General Counsel
514-738-8885
leon@optimalgrp.com
www.optimalgrp.com

International Tower Hill Mines Ltd. (THM) Announces CAD 30,000,000 Non-Brokered Equity Financing

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 03/16/10) – International Tower Hill Mines Ltd. (“ITH” or the “Company”) (TSX:ITH – News)(AMEX:THM – News)(Frankfurt:IW9 – News) is pleased to announce a proposed non-brokered financing of up to 5,000,000 common shares of the Company at a price of CAD 6.00 per common share (the “Offering”) in the United States and Canada. The Company will pay a 6% finder’s fee payable in cash and/or common shares on a portion of the Offering.

All common shares issued in the Offering will have a hold period in Canada of four months and a day from the closing of the Offering. All common shares issued in the United States will be subject to resale restrictions under U.S. federal and state securities laws. Completion of the Offering is subject to the Company obtaining all necessary regulatory approvals, including acceptance for filing by the Toronto Stock Exchange and the approval of the NYSE Amex.

The net proceeds from the private placement are anticipated to be used by the Company for the pre-feasibility study on the Livengood Gold project in Alaska and general working capital.

The common shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold in the United States absent such registration or pursuant to an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the common shares, nor shall there be any offer or sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About International Tower Hill Mines Ltd.

International Tower Hill Mines Ltd. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum of early stage to the advanced exploration projects, including the Livengood Gold project.

On behalf of INTERNATIONAL TOWER HILL MINES LTD.

Jeffrey A. Pontius, President and Chief Executive Officer

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated completion of the Offering and the proposed use of the proceeds of the Offering by the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, risks associated with the timing and pricing of the Offering, completion of the Offering, regulatory approval/acceptance of the Offering, and the use of proceeds from the Offering. Other risks and uncertainties are disclosed in the Company’s annual information form filed with certain Canadian securities commissions and its annual report on Form 40-F filed with the United States Securities and Exchange Commission, and other information released by the Company and filed with the appropriate regulatory agencies. All of the Company’s Canadian public disclosure filings may be accessed via http://www.sedar.com/ and its United States public disclosure filings may be accessed via http://www.sec.gov/, and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.