Mr. Gentry discussed the company’s rapid growth, its aggressive M&A program, and acquisitions that are on the horizon for 2012, which are projected to increase the company’s revenue run rate by more than 500% over 2010. Mr. Gentry additionally provided an overview of the company’s business model and discussed the background of the company’s executive team, including recent additions of new talent. Mr. Gentry emphasized AdCare’s tremendous growth, which is singular among its competitors in these challenging economic times.

“We’re the only long-term care company that is aggressively acquiring these smaller, regionally focused, privately held, nursing home operators,” Mr. Gentry stated. “Typically, these acquisition targets are not focused on the more complex, but more profitable sub-acute segment of the business. AdCare is able to build upon the solid custodial care reputations of these smaller operators by expanding their clinical capabilities and post-acute services. Our revenues grew four-fold in 2010, and then last year we doubled to a run rate of $200 million. We have a number of acquisitions in the pipeline and expect by the end of this year to at least double again.”

About AdCare Health Systems, Inc.

AdCare Health Systems, Inc. (NYSE Amex: ADK) is a recognized innovator in senior living and health care facility management. AdCare develops, owns and manages assisted living facilities, nursing homes and retirement communities. Since its inception in 1988, AdCare’s mission has been to provide the highest quality of healthcare services to the elderly. For more information about AdCare, visit www.adcarehealth.com.

About MissionIR

MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.

To sign up for The MissionIR Report, please visit http://www.MissionIR.com

To connect with MissionIR via Facebook, please visit http://www.Facebook.com/MissionIR

To connect with MissionIR via Twitter, please visit http://www.Twitter.com/MissionIR

Please read FULL disclaimer on the MissionIR website: http://Disclaimer.MissionIR.com

Forward-Looking Statement:
This release may 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company’s actual results to differ materially from those indicated in any forward-looking statements.

Mission Investor Relations
Atlanta, Georgia
http://www.MissionIR.com
404-941-8975
Investors@MissionIR.com

Included in this agreement are the rights to distribute Overland’s end-to-end data management and protection solutions, including the SnapServer Network Attached Storage products, SnapSAN, NEO Series Tape Solutions and the REO VTL Series.

“‘We are delighted to be partnering with Overland Storage to provide their extensive range of data storage solutions though our reseller network in Australia,” said TData Director, Jeremy Campbell. “Overland’s longstanding reputation for high quality products, backed by strong local warranty support, will strengthen our solution offering for our clients and allow us to expand our reach in the enterprise and data centre space.”

Overland Storage will work with TData to drive channel expansion across various vertical markets. With a network of specialist resellers, systems integrators and service providers, TData is able to meet the growing need of SME resellers and customers that are looking for feature rich storage products. TData will place a particular emphasis on the recently launched SnapServer DX Series and the newly enhanced NEO Series tape libraries and autoloaders.

Andy Walsky, VP of Sales, Overland Storage, said: “We are pleased to partner with such an established distributor. TData’s expertise delivering professional services along with their long history in data management and protection make them a perfect partner to move forward our business development strategy in the ANZ region.”

About TData

Established in 1982, TData is a Storage, Networking and Database distributor specialist offering a solid range of quality products, underpinned by in-depth product knowledge and pre & post sales technical support. TData offers competitive pricing, fast delivery, exceptional support and rapid response times. For more information, visit http://www.tdata.com.au/.

About Overland Storage

Overland Storage is a trusted global provider of effortless data management and data protection solutions across the data lifecycle. By providing an integrated range of technologies and services for primary, nearline, offline, archival, and cloud data storage. For more information, visit www.overlandstorage.com.

Richard Kurtz, President and CEO commented, “We are pleased to have established this new relationship with Silicon Valley Bank, a strong bank with a rich history of working with growing high technology businesses like API. I would also like to thank The PrivateBank and Trust for their support over the past four years. This new credit facility makes possible an increase in foreign receivable coverage up to $3 million as part of the $5 million total line. This increase in total credit facility will help us fund our growth, including our international revenue growth. We are very pleased with our new relationship with Silicon Valley bank, both for their commitment to API in particular and deep understanding of the high technology market.”

“We aim to increase the probability of our clients’ success and we’re looking forward to working closely with the Advanced Photonix team as they continue to grow,” said Mike Kohnen, Senior Relationship Manager, Silicon Valley Bank. “Since we are focused on technology innovators like API, we are able to provide them with the services and financing they need to expand internationally and tackle their ambitious goals.”

About Advanced Photonix, Inc.

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

About Silicon Valley Bank

Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 26 U.S. offices and seven international operations. (Nasdaq: SIVB) www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Private Bank is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve System.

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

• Threshold to receive $25 million upfront, plus further potential milestones and royalties
• Deal provides Threshold option to co-commercialize in the United States
• Phase 3 trial in soft tissue sarcoma on-going and randomized Phase II trial in patients with pancreatic cancer expected to report in February 2012

Threshold Pharmaceuticals, Inc (NASDAQ: THLD) today announced that a global agreement was signed with Merck KGaA, Darmstadt, Germany, to co-develop and commercialize TH-302, Threshold’s small molecule hypoxia-targeted drug. TH-302 is currently being investigated in a global Phase 3 clinical trial in patients with soft tissue sarcoma, a randomized Phase 2 trial in patients with advanced pancreatic cancer from which top-line results are expected in February, as well as additional clinical studies in other solid tumors and hematological malignancies.

Under the terms of the agreement, Merck will receive co-development rights, exclusive global commercialization rights and will provide Threshold an option to co-commercialize the therapeutic in the United States. In exchange, Threshold will receive an upfront payment of $25 million and could receive up to $35 million in additional development milestones during 2012. Threshold is also eligible to receive a $20 million milestone payment based on positive results from its randomized Phase 2 trial in pancreatic cancer. Total potential milestone payments are $525 million, comprised of $280 million in regulatory and development milestones and $245 million in sales-based milestones.

In the United States, Threshold will have primary responsibility for development of TH-302 in the soft tissue sarcoma indication. Threshold and Merck KGaA will jointly develop TH-302 in all other cancer indications being pursued. Merck KGaA will pay 70% of worldwide development costs for TH-302.

Subject to FDA approval in the United States, Merck KGaA will initially be responsible for commercialization of TH-302 with Threshold receiving a tiered, double-digit royalty on sales. Under the royalty-bearing portion of the agreement, Threshold retains the option to co-promote TH-302 in the United States. Additionally, Threshold retains the option to co-commercialize TH-302 allowing the company to participate in up to 50% of the profits in the United States based on certain revenue tiers. Outside of the United States, Merck KGaA will be solely responsible for the commercialization of TH-302 with Threshold receiving a tiered, double-digit royalty on sales in these territories.

“The addition of TH-302 to our pipeline provides an important opportunity in several different tumor types to expand our oncology development program,” said Susan Jane Herbert, Head of Global Business Development and Strategy, Merck Serono. “Given the fact that pancreatic cancer is a very difficult to treat indication, successful Phase II results could represent an important upside for our company.”

“We are excited by the new resources that our partnership is going to bring to the development of TH-302 and the expertise in clinical development and commercialization that Merck will contribute to this program,” said Barry Selick, President and CEO of Threshold. “This collaboration provides Threshold a strong and committed partner with a shared vision for TH-302.”

Morrison & Foerster LLP acted as legal counsel for Threshold in this transaction.

About TH-302
TH-302 is a hypoxia-targeted drug that is thought to be activated under tumor hypoxic conditions, a hallmark for many cancer indications. Areas of low oxygen levels (hypoxia) within tissues are common in many solid tumors due to insufficient blood vessel growth. Similarly, the bone marrow of patients with hematological malignancies has also been shown, in some cases, to be extremely hypoxic.

TH-302 has been investigated in over 550 patients in Phase I/II clinical trials to date in a broad spectrum of tumor types, both as a monotherapy and in combination with chemotherapy treatments and other targeted cancer drugs.

Threshold has several ongoing clinical trials including, but not limited to, a controlled Phase 2 trial of TH-302 in combination with gemcitabine versus gemcitabine alone in patients with advanced pancreatic cancer and a Phase 3 study evaluating TH-302 in combination with doxorubicin versus doxorubicin alone in patients with soft tissue sarcoma.

TH-302 development in soft tissue sarcoma

A Phase 3 trial of TH-302 in patients with first-line advanced soft tissue sarcoma (STS) was initiated in September 2011, based on results from a Phase 1/2 trial investigating its use in combination with the chemotherapeutic doxorubicin. This randomized, multi-center Phase 3 trial will investigate the use of TH-302 plus doxorubicin compared with doxorubicin alone. The primary efficacy endpoint is overall survival. The study is conducted under a Special Protocol Assessment with the U.S. Food and Drug Administration. It is being run in partnership with the Sarcoma Alliance for Research through Collaboration (SARC) and aims to enroll 450 patients with metastatic or locally advanced unresectable STS.

TH-302 development in pancreatic cancer

Results from a randomized, controlled, multi-center Phase 2 trial of TH-302 in patients with first-line pancreatic cancer are expected to be announced in February 2012. This trial of 214 previously untreated patients with locally advanced unresectable or metastatic pancreatic adenocarcinoma started in June 2010, and completed enrollment in June 2011. Two different doses of TH-302 in combination with the chemotherapeutic gemcitabine were compared to gemcitabine alone, with progression free survival (PFS) as the primary endpoint.

Soft tissue sarcoma

Sarcomas are a group of aggressive cancers of connective tissue of the body for which there are currently limited treatment options. Soft tissue sarcomas are treated with surgery, chemotherapy and radiation. Doxorubicin as a single agent or in combination with ifosfamide are the most commonly used chemotherapeutic regimens in patients with advanced soft tissue sarcoma, but response rates are generally low and toxicity can be significant. The American Cancer Society estimates that 10,980 people were diagnosed with a soft tissue sarcoma in the United States in 2011, and approximately 3,920 people died from the disease. In Europe, it is estimated that more than 32,000 people were diagnosed with soft tissue sarcoma in 2010.

Pancreatic cancer

Pancreatic cancer is a malignant neoplasm of the pancreas with current treatment options including surgery, radiotherapy and chemotherapy. Gemcitabine as a single agent or in combination with other treatments is the most commonly used chemotherapeutic agent in patients with advanced pancreatic cancer. It is estimated that approximately 279,000 cases of pancreatic cancer were diagnosed worldwide in 2008. Pancreatic cancer is the fourth most common cause of cancer death both in the United States and internationally. The American Cancer Society estimates that 44,030 people were diagnosed with pancreatic cancer in the United States in 2011, and approximately 37,660 people died from the disease.

About Merck Serono

Merck Serono is the biopharmaceutical division of Merck KGaA, Darmstadt, Germany, a global pharmaceutical and chemical company. Headquartered in Geneva, Switzerland, Merck Serono discovers, develops, manufactures and markets prescription medicines of both chemical and biological origin in specialist indications. In the United States and Canada, EMD Serono operates as a separately incorporated affiliate of Merck Serono.

Merck Serono has leading brands serving patients with cancer (Erbitux®, cetuximab), multiple sclerosis (Rebif®, interferon beta-1a), infertility (Gonal-f®, follitropin alfa), endocrine and metabolic disorders (Saizen® and Serostim®, somatropin), (Kuvan®, sapropterin dihydrochloride), (Egrifta®, tesamorelin), as well as cardiometabolic diseases (Glucophage®, metformin), (Concor®, bisoprolol), (Euthyrox®, levothyroxine). Not all products are available in all markets.

With an annual R&D expenditure of over EUR 1bn, Merck Serono is committed to growing its business in specialist-focused therapeutic areas including neurodegenerative diseases, oncology, fertility and endocrinology, as well as new areas potentially arising out of research and development in rheumatology.

About Merck

Merck is a global pharmaceutical and chemical company with total revenues of EUR 9.3 billion in 2010, a history that began in 1668, and a future shaped by more than 40,000 employees in 67 countries. Its success is characterized by innovations from entrepreneurial employees. Merck’s operating activities come under the umbrella of Merck KGaA, in which the Merck family holds an approximately 70% interest and shareholders own the remaining approximately 30%. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since.

For more information, please visit www.merckserono.com or www.merckgroup.com

About Threshold Pharmaceuticals

Threshold is a biotechnology company focused on the discovery and development of drugs targeting tumor hypoxia, the low oxygen condition found in microenvironments of most solid tumors as well as the bone marrows of patients with some hematologic malignancies. For additional information, please visit the company’s website: www.thresholdpharm.com.

Forward-Looking Statements
Except for statements of historical fact, the statements in this press release are forward-looking statements, including statements regarding potential payments from Merck to Threshold, development and commercialization plans for TH-302, TH-302’s potential ability to treat soft tissue sarcoma and pancreatic cancer, planned clinical trials and anticipated results, and potential therapeutic uses and benefits of TH-302. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, Threshold’s ability to accomplish milestones that will trigger payments, Threshold’s and Merck’s ability to enroll or complete its anticipated clinical trials, the time and expense required to conduct such clinical trials and analyze data, whether such trials confirm results from earlier trials and preclinical studies, potential side effects associated with TH-302, issues arising in the regulatory or manufacturing process and the results of such clinical trials (including product safety issues and efficacy results), and Threshold’s and Merck’s ability to obtain regulatory approval for the marketing of TH-302. Further information regarding these and other risks is included under the heading “Risk Factors” in Threshold’s Quarterly Report on Form 10-Q, which has been filed with the Securities Exchange Commission on November 3, 2011 and is available from the SEC’s website (www.sec.gov) and on our website (www.thresholdpharm.com) under the heading “Investors.” We undertake no duty to update any forward-looking statement made in this news release.

Contact:
Joel A. Fernandes
Threshold Pharmaceuticals, Inc.
650.474.8273
IR@thresholdpharm.com

Highlights include;
* Results from 75 diamond core drill holes into the “Shallow Silver Zone”, equating to 11,700 meters of the 36,800 meter drill campaign completed in 2011.
* 80% of the drill holes intersected zones of silver oxide mineralization >30g/t Ag, including; 100g/t Ag over 43 meters, 170g/t over 11 meters and 213.4g/t Ag over 36.25 meters.
* Significant zinc intercepts including; 9.81% Zn over 46.4 meters, 17.47% Zn over 13.15 meters, and 9.03% Zn over 17.5 meters.

Silver Bull’s 2011 drill program of 183 drill holes totals 36,800 meters and focused on both the “Shallow Silver Zone” and the newly discovered “Centenario” zone. The program was designed to infill zones of mineralization defined by previous drilling as well as continue expanding the resource in the north, east, and westerly directions through step out drilling. The results have confirmed the continuity and tenor of the extensive silver and zinc mineralization seen at Sierra Mojada, and mineralization remains open in all directions. Silver Bull’s drill program is ongoing with 3 rigs currently onsite. Please see www.silverbullresources.com for more information.

A table of selected intervals from the reported 75 holes is shown below.

-***-
————————————————————-
Hole ID From(m) To(m) Interval Ag g/t Zn % Pb% Cu%
————————————————————-
B11002 53.00 68.00 15.00 25.45 1.45 0.36 0.04
B11003* 78.00 85.00 7.00 80.5 0.36 1.09 0.12
102.00 111.00 9.00 35.26 0.10 0.01 0.07
B11004* 96.10 116.75 20.65 36.85 0.07 0.08 0.06
122.00 132.20 10.20 36.96 0.01 0.07 0.02
B11005* 89.40 100.00 10.60 52.73 0.25 1.05 0.12
B11006 24.05 29.60 5.55 142.5 0.86 0.16 0.28
B11007 81.35 98.85 17.50 35.8 9.03 1.22 0.00
B11009* 104.90 119.00 14.10 37.25 0.31 0.07 0.11
B11010* 110.25 146.50 36.25 213.4 1.29 0.79 0.80
B11012 69.25 88.00 18.75 43.17 0.30 0.06 0.15
B11019 188.00 196.00 8.00 78.69 6.81 0.77 0.11
B11021 160.00 168.00 8.00 57.30 0.05 0.01 0.15
B11028 108.00 121.00 13.00 56.67 2.46 0.76 0.08
————————————————————-
Hole ID From(m) To(m) Interval Ag g/t Zn % Pb% Cu%
————————————————————-
B11034 146.00 149.00 3.00 142.69 1.78 0.31 1.09
B11037 168.00 194.00 26.00 39.16 0.10 0.01 0.06
B11042 5.80 22.00 16.20 33.27 1.04 0.19 0.00
B11044 28.00 53.65 25.65 55.7 0.56 0.07 0.26
B11045 28.00 71.00 43.00 100 1.22 0.42 0.01
B11046 10.30 27.00 16.70 62.90 2.22 0.41 0.07
B11047 21.00 56.00 35.00 25.57 0.18 0.04 0.05
B11048 49.00 60.00 11.00 170 1.40 1.99 0.03
78.00 82.25 4.25 31.92 0.30 0.05 0.00
90.00 94.00 4.00 27.75 0.17 0.01 0.00
B11050 122.95 169.35 46.40 19.44 9.81 0.16 0.00
B11051 31.95 87.00 55.05 55.45 1.71 1.27 0.03
B11054 32.00 97.50 65.50 28.47 0.82 0.06 0.06
B11056 55.70 123.00 67.30 44.64 0.25 0.07 0.03
161.65 172.00 10.35 52.54 6.89 0.13 0.08
B11066 36.05 57.00 20.95 77.68 0.25 0.06 0.07
B11067 138.25 151.40 13.15 75.66 17.47 1.25 0.00
B11068 36.45 96.00 59.55 19.29 0.12 0.06 0.00
B11069 129.00 136.15 7.15 44.9 1.82 0.52 0.13
B11070 114.20 129.45 15.25 80.86 3.06 0.79 0.04
B11071 45.65 118.00 72.35 36.87 0.21 0.08 0.00
B11072 133.40 150.10 16.70 31.09 5.49 0.61 0.00
B11073 0.00 69.00 69.00 35.45 0.86 0.20 0.00
79.85 97.30 17.45 19.21 0.86 0.03 0.00
————————————————————-
-****-

* Drillholes that were previously reported by Silver Bull
** Intervals shown are mineralized lengths of core and are not necessarily true widths.

About the Mineralization: A thick “upper” dolomite unit is the favorable host rock for the silver oxide mineralization seen in the Shallow Silver Zone, especially when immediately adjacent to fault zones. The discovery of the new “Centenario Zone” at the end of 2011, which is hosted within a strategraphically “lower” dolomite unit and averages +100 meter intercepts at >60g/t Ag underlies the upper dolomite which hosts the Shallow Silver Zone and was not tested by many of the early holes drilled in 2011. During the first quarter of 2012 a number of these holes will be deepened to see if the mineralization seen in the Centenario zone continues to the south within the lower dolomite. Sections 631500E and 631600E shown below demonstrate this concept.

Figure 1. Location of the reported holes in relation to the shallow silver zone defined in the NI43-101 Resource report completed by SRK in October 2011.

To view Figure 1, please click on the link below:
http://www.usetdas.com/pr/silverbull02012012figure1.jpg

Figure 2. Section 631500E showing the “Shallow Silver” and “Centenario” Zones in relation to the upper and lower dolomite units. It is planned that the lower dolomite unit will be explored in 2012 by deepening a number of holes drilled early in the 2011 drill campaign. Only drill holes with the prefix “B11″ were drilled in 2011.

To view Figure 2, please click on the link below:
http://www.usetdas.com/pr/silverbull02012012figure2.jpg

Figure 3. Section 631600E showing the “Shallow Silver” and “Centenario” Zones in relation to the upper and lower dolomite units. It is planned that the lower dolomite unit will be explored in 2012 by deepening a number of holes drilled early in the 2011 drill campaign. Only drill holes with the prefix “B11″ were drilled in 2011.

To view Figure 3, please click on the link below:
http://www.usetdas.com/pr/silverbull02012012figure3.jpg

About the Shallow Silver Zone: Currently contains a NI43-101 compliant resource at a 15g/t cutoff grade of 47.3Moz of silver in the “indicated” category and 13.8Moz of silver in the “inferred” category. The mineralized body averages between 30m – 90m thick, is up to 200m wide and has an average grade of just over 50g/t silver. Mineralization remains open in the east, west, south and northerly directions. Approximately 60% of the current 3.2 kilometer mineralized body is at or near surface before dipping at around 10 degrees to the east.

NI43-101 Resource Update: The third in a series of NI43-101 resource updates is anticipated to be prepared by SRK Consulting (Canada) Inc. “SRK” in Q2 of 2012. All available data up to February 28, 2012 will be given to SRK for inclusion in the report. Given the drilling results to date it is anticipated that SRK’s next report will show a substantial increase in the silver resource at Sierra Mojada, as well as including a resource for the significant zinc mineralization seen on the project.

Sample Analysis and QA/QC: All samples have been analyzed at ALS Chemex in North Vancouver, BC, Canada. Samples are first tested with the “ME-ICP41m” procedure which analyzes for 35 elements using a near total aqua regia digestion. Samples with silver values above 100ppm are re-analyzed using the Ag-GRA21 procedure which is a fire assay with a gravimetric finish. Samples with zinc, lead, and copper values above 10,000ppm (1%) are re-analyzed using the AA46 procedure which is a near total aqua regia digestion with an atomic absorption finish.

A rigorous procedure is in place regarding sample collection, chain of custody and data entry. Certified standards and blanks, as well as duplicate samples are routinely inserted into all sample shipments to ensure integrity of the assay process. The QA/QC of the assay results has been contracted to IOGlobal, an international and independent QA/QC and database management firm.

About Silver Bull: Silver Bull is a well funded, US registered mineral exploration company listed on both the NYSE Amex and TSX stock exchanges and based out of Vancouver, Canada. The flag ship “Sierra Mojada” project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico and is highly prospective for silver and zinc. Silver Bull also owns three mineral exploration licences in Gabon, Africa, two of which are currently under joint venture with AngloGold Ashanti. These licences are prospective for gold, manganese, and iron ore.

The technical information of this news release has been reviewed and approved by Jason Cunliffe, MAusIMM, a qualified person onsite for the purposes of National Instrument 43-101.

INVESTOR RELATIONS CONTACT INFO:
info@silverbullresources.com

Cautionary Note to U.S. Investors concerning estimates of Indicated and Inferred Resources: This press release uses the terms “indicated resources” and “inferred resources” which are defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the United States Securities and Exchange Commission (the “SEC”). The estimation of indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.

Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.

Cautionary note regarding forward looking statements: This news release contains forward-looking statements regarding future events and Silver Bull’s future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”) and applicable Canadian securities laws. Forward-looking statements include statements regarding indicated and inferred resource estimates, the anticipated scope and targets of future drilling in the Shallow Silver Zone and Centenario Zone and the timing and expected resource increase of Silver Bull’s next resource update. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull’s exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull’s management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as the results of exploration activities and whether the results continue to support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended October 31, 2011 and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements.

To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/silverbull02012012.htm

“The economics of the mobile device market are complex and particularly burdensome for carriers, who must offer the latest technology at affordable price points. Escalating smartphone prices, higher subsidies absorbed by carriers, market-driven caps on consumer upfront payments and regulatory pressure to eliminate early termination fees – are all factors which contribute to frustrations for carriers, subscribers and even the OEMs,” said Don Klumb, TMNG Global’s CEO. “We think the market is ready for a viable smartphone leasing option. MDLx provides a complete solution that enables carriers to dramatically reduce their device subsidy obligations; provide subscribers access to the latest device technology as it becomes available and on a more frequent basis; and also benefits OEMs by decreasing their sales cycles by half and facilitating development of new technology with less concern for carrier subsidy constraints.”

Building upon TMNG’s proven business and operations support systems capabilities, as well as its Ascertain® software suite and its acquisition of an industry-proven TPA platform, MDLx has created an innovative, technology-based ecosystem for managing the entire mobile device leasing program structure. MDLx enables efficient, end-to-end support for carriers’ premises and billing systems, and back-end lease aggregation and management platform, including administration, finance, insurance, and handset recovery and redeployment capabilities.

“Our experience with handset recapture models, including our own SmartXchange offering, has proven that the rapidly advancing sophistication of smartphones gives them attractive residual values,” said Tom Murphy, MDLx’s Chief Marketing Officer. “The ability to capture that residual value is the basis for successful application of a lease model, and is what enables MDLx to pioneer an offering that’s highly compelling for players throughout the smartphone food chain. By designing an end-to-end, fully administered solution that addresses the pain points of carriers, subscribers and OEMs, we think MDLx offers the wireless industry a new option for dramatically improving its economic model.”

About MDLx

MDLx, a wholly-owned subsidiary of parent company, TMNG Global (Nasdaq:TMNG), provides carriers with an end-to-end solution, Mobile Device Lease xChange, that reduces the economic impact of handset subsidies, while providing consumers with access to more frequent mobile device upgrade opportunities. MDLx also allows OEMs to decrease sales cycles by half, while facilitating development of new technology with less concern for carrier subsidy constraints. For more information, visit www.deviceleasing.com.

The MDLx Logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11523

About TMNG Global

TMNG Global (Nasdaq:TMNG) is a premier provider of professional services to the global leaders in the communications, digital media, and technology industries. TMNG Global and its divisions, CSMG and Cartesian, and a team of more than 500 experts, provide strategy, operations and technology consulting services and technical solutions to more than 1,200 communications clients worldwide. The company is headquartered in Overland Park, Kansas, with offices in Boston, London, New Jersey, and Washington, D.C. For more information about the company and its services, visit www.tmng.com.

CONTACT: Brainerd Communicators
         Ray Yeung / Jo Anne Barrameda (Media)
         yeung@braincomm.com / barrameda@braincomm.com
         212.986.6667

         Corey Kinger (Investors)
         kinger@braincomm.com
         212.986.6667

DUBLIN and RICHMOND, Calif., Feb. 1, 2012 /PRNewswire/ — Shire plc (LSE: SHP, NASDAQ: SHPGY), the global specialty biopharmaceutical company, and Sangamo BioSciences, Inc. (NASDAQ: SGMO), a leader in genome-editing technology, announced today that they have entered into a collaboration and license agreement to develop therapeutics for hemophilia and other monogenic diseases based on Sangamo’s zinc finger DNA-binding protein (ZFP) technology.

Shire will receive exclusive world-wide rights to ZFP Therapeutics® designed to target four genes (for blood clotting Factors VII, VIII, IX and X) which will be used to investigate curative therapies for hemophilia A and B. Shire also receives the right to designate three additional gene targets. Sangamo is responsible for all activities through submission of Investigational New Drug (IND) Applications and European Clinical Trial Applications (CTA) for each product and Shire will reimburse Sangamo for its internal and external research program-related costs. Shire is responsible for clinical development and commercialization of products arising from the alliance. Shire will pay Sangamo $13 million upfront followed by research, regulatory, development and commercial milestone payments, and royalties on product sales.

“Sangamo’s ground-breaking ZFP gene-editing technology will enable us to expand our therapeutic pipeline into therapies for other genetic disorders such as hemophilia,” said Sylvie Gregoire, president of Shire’s Human Genetic Therapies business. “While still early in the clinical development process, this DNA-binding protein technology is aligned with our focus of developing new treatments that can add value for physicians, patients and their families, and the healthcare community overall.”

“We are delighted to be partnering the first of our monogenic disease programs with Shire, a company known for its development of innovative medicines for genetic diseases,” said Edward Lanphier, Sangamo’s president and chief executive officer. “This alliance is further validation of our ZFP platform as a transformative technology for the development of novel therapeutics, which have the potential to revolutionize the treatment of a wide range of genetic diseases.”

Sangamo’s ZFP Therapeutic approach utilizes its proprietary ZFP nuclease (ZFN) and ZFP transcription factor (ZFP TF) technology. ZFPs can be engineered to recognize any specific DNA sequence within a gene, and may be applicable to certain Shire therapeutic areas, including hematology and lysosomal storage disorders.

About Hemophilia

Hemophilia, a rare bleeding disorder, is an example of a monogenic disease. There are several types of hemophilia caused by mutations in genes that encode factors which help the blood clot and stop bleeding when blood vessels are injured. The most prevalent form of the disease, hemophilia A, is caused by a defect in clotting Factor VIII while defects in clotting Factor IX lead to hemophilia B. The most severe forms of hemophilia affect males. According to the National Hemophilia Foundation, hemophilia A occurs in about one in every 5,000 male births in the US, and hemophilia B in about 1 in every 25,000. The standard treatment for individuals with hemophilia is replacement of the defective clotting factor with regular infusion of concentrates or recombinant factors, which are expensive, carry the risk of transmission of blood-borne diseases and sometimes stimulate the body to produce antibodies against the factors that inhibit the benefits of treatment. In these situations, other clotting factors such as Factor VII and X may be used to treat patients.

Using a mouse model of hemophilia B, Sangamo scientists and its collaborators have already established proof of concept that ZFN-mediated genome editing can be accomplished in vivo and is curative in the animal. They have demonstrated the production of stable levels of corrected human clotting Factor IX that are clinically meaningful, restoring clotting times to normal, after a single, systemic administration of ZFNs specific for the Factor IX gene. The data were published in the scientific journal Nature in June 2011 (Nature. 2011 Jun 26; 475(7355):217-21. doi: 10.1038/nature10177).

SHIRE PLC

Shire’s strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit hyperactivity disorder, human genetic therapies, gastrointestinal diseases and regenerative medicine as well as opportunities in other therapeutic areas to the extent they arise through acquisitions. Shire’s in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights. Shire believes that a carefully selected and balanced portfolio of products with strategically aligned and relatively small-scale sales forces will deliver strong results.

For further information on Shire, please visit the Company’s website: www.shire.com.

SHIRE “SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Statements included herein that are not historical facts are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, the Company’s results could be materially adversely affected. The risks and uncertainties include, but are not limited to, risks associated with: the inherent uncertainty of research, development, approval, reimbursement, manufacturing and commercialization of the Company’s Specialty Pharmaceuticals, Human Genetic Therapies and Regenerative Medicine products, as well as the ability to secure new products for commercialization and/or development; government regulation of the Company’s products; the Company’s ability to manufacture its products in sufficient quantities to meet demand; the impact of competitive therapies on the Company’s products; the Company’s ability to register, maintain and enforce patents and other intellectual property rights relating to its products; the Company’s ability to obtain and maintain government and other third-party reimbursement for its products; and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission.

Sangamo

Sangamo BioSciences, Inc. is focused on research and development of novel DNA-binding proteins for therapeutic gene regulation and genome editing. Sangamo has a Phase 2 clinical trial and two Phase 1/2 clinical trials to evaluate the safety and efficacy of a novel ZFP Therapeutic® for the treatment of HIV/AIDS. Other therapeutic programs are focused on monogenic diseases, including hemophilia and hemoglobinopathies, and Parkinson’s disease. Sangamo’s core competencies enable the engineering of a class of DNA-binding proteins known as zinc finger DNA-binding proteins (ZFPs). By engineering ZFPs that recognize a specific DNA sequence Sangamo has created sequence-specific ZFP Nucleases (ZFNs) for gene modification and ZFP transcription factors (ZFP TFs) that can control gene expression and, consequently, cell function. Sangamo has established strategic partnerships with companies in non-therapeutic applications of its technology including Dow AgroSciences and Sigma-Aldrich Corporation. For more information about Sangamo, visit the company’s website at www.sangamo.com.

ZFP Therapeutic® is a registered trademark of Sangamo BioSciences, Inc.

This press release may contain forward-looking statements based on Sangamo’s current expectations. These forward-looking statements include, without limitation, references to the research and development of novel ZFNs, potential therapeutic applications of the ZFN technology for the treatment of hemophilias and other monogenic diseases and potential milestone payments. Actual results may differ materially from these forward-looking statements due to a number of factors, including technological challenges, uncertainties and risks relating to clinical trials, compliance with regulatory and other requirements, the ability of Sangamo and Shire to develop commercially viable products and technological developments by our competitors. See the SEC filings, and in particular, the risk factors described in Shire and Sangamo’s Annual Reports on Form 10-K and most recent Quarterly Reports on Form 10-Q. Shire and Sangamo do not assume any obligation to update the forward-looking information contained in this press release.

SOURCE Sangamo BioSciences, Inc.

IRVINE, Calif., Feb. 1, 2012 /PRNewswire/ — Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW), a leader in the development and production of advanced electric propulsion systems, energy storage technologies, and alternative fuel vehicle systems and applications including natural gas vehicles, hybrid electric, plug-in hybrid and hydrogen vehicles announced that it will present at the Merriman Capital Investor Summit 2012 at the Intercontinental Times Square in New York City. Mr. Alan P. Niedzwiecki, President and Chief Executive Officer, is scheduled to present to leading institutional investors today, Wednesday, February 1, 2012.

“We look forward to showcasing our company to some of the country’s top clean tech and growth investors at this year’s Merriman Capital Investor Summit 2012,” said Alan P. Niedzwiecki. “This is an ideal venue in which we can provide an important update of our growth strategy and achievements.”

About Merriman Capital, Inc.:

Merriman Capital, Inc. is an investment banking firm providing equity and options execution services, market making, and differentiated research for high growth companies. We also provide capital raising, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (OTCQX: MERR) and is the leading investment banking firm for OTCQX companies. For more information, please go to http://www.merrimanco.com/. Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/contact.cfm.

About Quantum

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

Forward Looking Statements:

This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report, other than those that are historical, are forward-looking statements and can generally be identified by words such as “may,” “could,” “will,” “should,” “assume,” “expect,” “anticipate,” “plan,” “intend,” “believe,” “predict,” “estimate,” “forecast,” “outlook,” “potential,” or “continue,” or the negative of these terms, and other comparable terminology. Various risks and uncertainties, such as whether growth in the CNG industry continues in 2012 at the rate we are forecasting, the timing and delivery of the CNG storage systems, the number of CNG orders the Company actually receives during the 2012 calendar year, whether the Company’s is able to maintain a competitive advantage in CNG light weight storage systems, whether we are able to meet our customers demand for CNG storage systems, the number of production orders we receive from Fisker Automotive, Inc. during the 2012 calendar year, and those risk and uncertainties described in the “Risk Factors” section of our periodic filings with the Securities and Exchange Commission, could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements. Except as otherwise required by law, the Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

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

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

Dale Rasmusse
Email: drasmussen@qtww.com
206-315-8242

SOURCE Quantum Fuel Systems Technologies Worldwide, Inc.

“In the second quarter we remained focused on student outcomes, balancing expenses with current and projected enrollment, and improving the efficiency of back-end operations,” said Jack Massimino, Corinthian Chairman and Chief Executive Officer. “Our student attrition and graduate employment trends continue to make incremental improvement, primarily the result of reducing the risk profile of our students and our ongoing efforts to help students succeed.”

“As anticipated, the rate of decline in new student enrollment growth improved significantly in the quarter,” Massimino said. “The improvement is the result of several factors, including a less challenging comparable from the second quarter last year, gradual stabilization in ground school new enrollments and continued strong growth at Everest University Online. In the last half of fiscal 2012, we expect new enrollments to be slightly positive.”

“To help offset recent declines in student population, over the past 18 months we have reduced annualized operating expenses by approximately $150 million,” Massimino said. “We also continue to pursue several growth initiatives, such as introducing new program offerings, opening new campuses, and growing our exclusively online enrollments.”

Comparing the second quarter of fiscal 2012 with the same quarter of the prior year:

• Net revenues were $415.5 million versus $481.7 million, a decrease of 13.7%.
• The total student population at December 31, 2011 was 94,860 versus 105,210 at December 31, 2010, a decrease of 9.8%.
• New student enrollments totaled 25,951 versus 26,758, a decrease of 3.0%.

• Operating income was $10.0 million, excluding severance charges of $2.7 million, compared with operating income of $33.1 million, excluding impairment and severance charges of $206.0 million in the second quarter of fiscal 2011.
• Net income, excluding impairment and severance for both periods, was $3.4 million, compared with $19.1 million in the prior year.
• Diluted earnings per share were $0.02 per share versus a diluted loss per share of $(1.94). Excluding impairment and severance charges of $0.02 per share in Q2 12 and $2.17 per share in Q2 11, diluted earnings per share were $0.04 in Q2 12 versus $0.23 in Q2 11.

Financial Review

Educational services expense decreased $33.0 million, or 11.4%, from $288.6 million in Q2 11 to $255.6 million in Q2 12. As a percent of revenue, educational services expense increased from 59.9% in Q2 11 to 61.5% in Q2 12. The increase as a percent of revenue is primarily due to an increase in compensation and facilities expense, reflecting the fixed nature of these expenses against a lower revenue base, partially offset by improvement in bad debt expense.

Bad debt expense decreased to $14.6 million or 3.5% of net revenues for Q2 12 compared to $31.6 million or 6.6% of net revenues for Q2 11. The improvement in bad debt expense is primarily the result of continued efficiencies in packaging students with financial aid as a result of bringing processing in-house.

Marketing and admissions expenses decreased $2.0 million, or 1.9%, from $106.0 million in Q2 11 to $104.0 million in Q2 12. As a percent of revenue, marketing and admissions increased from 22.0% in Q2 11 to 25.0% in Q2 12. The increase as a percent of revenue is primarily attributable to a lower revenue base.

General and administrative expenses decreased $8.2 million, or 15.2% from $54.0 million in Q2 11 to $45.8 million in Q2 12. As a percent of revenue, G&A decreased from 11.2% in Q2 11 to 11.0% in Q2 12. The decrease reflects the company’s cost reduction initiatives.

Impairment and severance charges – During the second quarter, we recorded severance charges of $2.7 million.

The operating margin, excluding the impairment, facility closing and severance charges in both time periods, was 2.4% in Q2 12 versus 6.9% in Q2 11. The decline is primarily the result of lower enrollment in the ground schools, and fixed compensation and facilities expenses against a lower revenue base.

Cash and cash equivalents totaled $38.4 million at December 31, 2011, compared with $107.4 million at June 30, 2011. The decrease results from the repayment of debt, partially offset by cash flows from operations.

Total debt and capital leases were $135.3 million at December 31, 2011, compared with $331.8 million at June 30, 2011.

Cash flow from operations was $137.2 million in the first six months of fiscal 2012, versus $4.0 million in the same period last year. The increase in cash flow is primarily related to the timing of cash payments and receipts related to working capital.

Capital expenditures were $20.1 million for the first six months of fiscal 2012, versus $65.8 million in the same period last year. The decrease is primarily the result of opening fewer new campuses.

Other

The company has signed a definitive agreement for the sale-leaseback of five of its Heald College facilities. The transaction is expected to generate proceeds of approximately $40 million, and close in mid-February, subject to customary closing conditions.

Guidance

The following guidance excludes one-time charges:

Conference Call Today

We will host a conference call today at 12:00 p.m. Eastern Time (9:00 a.m. PT), to discuss second quarter results. The call will be open to all interested investors through a live audio web cast at www.cci.edu (Investor Relations/Events & Presentations.) The call will be archived on www.cci.edu after the call. A telephonic playback of the conference call will also be available through 11:00 p.m. PT, Wednesday, February 8. The playback can be reached by dialing (800) 585-8367 and using pass code 35917278.

About Corinthian

Corinthian is one of the largest post-secondary education companies in North America. Our mission is to change students’ lives. We offer diploma and degree programs that prepare students for careers in demand or for advancement in their fields. Our program areas include health care, business, criminal justice, transportation technology and maintenance, construction trades and information technology. We have 123 Everest, Heald and WyoTech campuses, and also offer degrees exclusively online. For more information, go to http://www.cci.edu/.

The Corinthian Colleges, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8848

Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. The company intends that all such statements be subject to the “safe-harbor” provisions of that Act. Such statements include, but are not limited to, those regarding our beliefs and expectations regarding student outcomes; new student enrollment growth or declines in future periods; expected savings from our decision to align organizational expenses with lower enrollments; the success of our initiatives to increase new enrollments now and in the future, including the introduction of new programs, opening new campuses, and growing our exclusively online enrollments; the statements regarding future operational performance, including the statements under the heading “Guidance” above, and the expected closing of the sale-leaseback of five Heald College facilities. Many factors may cause the company’s actual results to differ materially from those discussed in any such forward-looking statements or elsewhere, including: the effect of new Department of Education rules; the company’s effectiveness in its regulatory and accreditation compliance efforts; the outcome of ongoing reviews and inquiries by accrediting, state and federal agencies, including state attorneys general, the U.S. Department of Education’s Office of the Inspector General, and the U.S. Attorney’s office in Georgia; the outcome of pending litigation against the company; the possible non-satisfaction of the conditions to closing of the company’s sale-leaseback transaction for its five Heald College facilities; risks associated with variability in the expense and effectiveness of the company’s advertising and promotional efforts; potential increased competition; bad debt expense or reduced revenue associated with requesting students to pay more of their educational expenses while in school; risks associated with the company’s new student lending program through ASFG; changes in general macroeconomic and market conditions (including credit and labor market conditions, the unemployment rate and the rates of change of each such item); and the other risks and uncertainties described in the company’s filings with the U.S. Securities and Exchange Commission. The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Investors:
         Anna Marie Dunlap
         SVP Investor Relations
         714-424-2678

         Media:
         Kent Jenkins
         VP Public Affairs Communications
         202-682-9494

Cooperation Agreement with Five Leading Auto Insurers

The Company reported it has now concluded cooperation agreements with five of the leading auto insurance providers in China under which the Company will be qualified to offer automobile insurance to purchasers of automobiles in its auto mall, the largest imported luxury auto mall in Tianjin.

“Auto insurance is particularly important to buyers of the luxury cars we sell,” stated Mr. Tong Shiping, CEO and Chairman of the Company, “and we now will be able to offer the very best insurance packages to our customers. We see this as an excellent addition to the ‘one stop services’ we currently provide and further expect it will attract new customers and help boost our luxury auto sales in this very strong market.” Mr. Tong noted discussions regarding final details on how to best execute the agreements with each insurer are in progress and the new service is expected to be launched shortly.

Increased Support from Three Leading Banks

The Company also announced an expansion of its cooperation with three leading Chinese banks which it expects will lead to the further strengthening and growth of its auto-related services.

• Under an agreement reached with Bank of China (BOC), one of China’s four largest state-owned commercial banks, the Company will soon offer its luxury auto customers the option of installment buying.
• Through an agreement developed with China Merchant Bank (CMB), the Company will soon establish an electronic payment platform which, among other things, will help the Company manage cash flow more efficiently.
• Agricultural Bank of China has agreed to grant the Company a credit line of RMB 960 million (approximately $152 million) which by itself would represent an approximate doubling of the Company’s current aggregate credit line with several domestic banks.

An Opportunity to Expand

Commenting further on these developments, Mr. Tong stated, “Our expanded credit lines, the new cooperation with BOC and CMB, and our new insurance services business in cooperation with five of China’s leading insurers, absolutely places us in a much stronger position to offer our auto related services to more dealer customers and consumers, as well as the opportunity to expand our business to a wider marketplace throughout China.”

About China Auto Logistics Inc.

China Auto Logistics Inc. operates www.cali.com.cn, one of the leading automobile portals for car dealers and consumers of vehicles and auto-related services in China. Additionally, it is one of China’s top sellers of luxury imported cars and a leading developer of websites for buyers and sellers of imported and domestic automobiles. These include www.188.com, China’s only site for imported car dealers and consumers; www.at160.com, focused on domestic auto sales, and www.goodcar.cn, a highly popular internet destination for auto drivers attracted by discount cards for a variety of automotive products and services. The Company believes the integration of these wide ranging sites and services in a single portal serving a broad spectrum of China’s “auto living” public, as well as the addition of new web-based auto-related services for businesses and consumers, will drive future growth. For additional information visit www.chinaautologisticsinc.com.

Information Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.

US Contact:

Ken Donenfeld
DGI Investor Relations
kdonenfeld@dgiir.com
Tel: 212-425-5700
Fax: 646-381-9727