$30 Million in New Contracts Awarded to WPCS

EXTON, Pa. /PRNewswire-FirstCall/ — WPCS International Incorporated (Nasdaq: WPCS), a leader in design-build engineering services for communications infrastructure, has announced that it has received approximately $30 million in new projects.

The new contracts include projects to be completed for Beale Air Force Base, Los Angeles Unified School District, Mount Si High School, T-Mobile, DNV Global Energy Concepts, MONOC, Dejana Truck and Utility Equipment, City of Kissimmee, Duke Farms, City of Camden, City of Providence, Neptune Township Police Department, Galloway Township Police Department, Highlands Borough and Six Flags. In addition, WPCS received international project awards in China for Qingdao Gas and Kunshan Pipeline as well as projects from Australia for the City of Kippa-Ring and Kedron State High School.

James Heinz, Executive Vice President of WPCS commented, “We are now beginning to see strong momentum in converting our bid activity into revenue producing backlog. These newly awarded projects will keep us very busy in the months ahead. We remain very encouraged with the communications infrastructure opportunities that continue to be present in public services, healthcare and energy.”

About WPCS International Incorporated:

WPCS is a design-build engineering company that focuses on the implementation requirements of communications infrastructure. The company provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide. For more information, please visit www.wpcs.com

Statements about the company’s future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are “forward looking” statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such forward looking statements involve risks and uncertainties and are subject to change at any time.  The company’s actual results could differ materially from expected results.  In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.

China ACM (CADC) to Ring NASDAQ Opening Bell on Friday January 8, 2010

BEIJING /PRNewswire-FirstCall/ — China Advanced Construction Materials Group, Inc. (“China ACM”) (Nasdaq: CADC), a leading provider of ready-mix concrete in China, today announced that the executive management team will ring the Opening Bell at the NASDAQ MarketSite© in New York City at on .  Mr. Xianfu Han, Chairman and Chief Executive Officer, and Mr. Weili He, Vice Chairman and Chief Operating Officer, will attend the event.

China ACM’s common stock commenced trading on the NASDAQ Global Market on under the symbol “CADC”.

China ACM is a low emission, environmentally friendly, ready-mix concrete producer and provides environmentally friendly solutions to other industry participants.  The Company is introducing revolutionary products through its R&D capabilities. According to China’s National Development and Reform Commission (NDRC), the Company helped create the first environmental, or “green product”, standard for the concrete industry in China and it remains as 1 of only 10 companies nationwide in China to comply with this nationalized standard. The Company’s technology lowers the cement composition of its concrete mix by utilizing more industrial byproducts and ore waste to create a more solid, long-lasting product. Government support for China ACM includes being one of a few concrete producers recognized as a High Tech Enterprise, preference for government contracts, tax advantages and input into emerging regulatory guidelines. A growing portion of revenues are from technical services to other concrete producers around the country.

Mr. Xianfu Han, Chairman and Chief Executive Officer, stated, “We are excited to be part of the most influential market and exchange in the world. We are proud that our environmentally friendly ready-mix concrete along with our proprietary engineering services, have been widely used in signature architectures in Beijing, and we have begun penetrating into high-speed rail projects throughout China. These achievements are attributable to the hard work of our dedicated employees who helped grow our revenue from $27.6 million to $39.7 million with net income increasing from $5.2 million to $12.1 million between fiscal year 2008 and fiscal year 2009. We are pleased to start 2010 with this milestone event and remain upbeat for the future growth prospects.”

A live web cast of the NASDAQ Opening Bell (starting from ) will be available at:

http://www.nasdaq.com/about/marketsitetowervideo.asx

About China ACM

China ACM, founded in 2002 and based in Beijing, China, is a leading producer of advanced construction materials for large scale commercial, residential, and infrastructure developments. The company is primarily focused on producing and supplying a wide range of advanced ready-mix concrete materials for highly technical, large scale, and environmental construction projects. The company also aims to develop and produce new and innovative environmentally conscious construction materials.

China ACM provides materials and services through its six ready-mix concrete plant network covering Beijing metropolitan area. China ACM owns one plant, leases three plants and has technical services and preferred procurement agreements with two other independently-owned plants.  China ACM is ISO 9001 (product quality), ISO 14001 (environmental safety), and ISO 18001 (employment environment safety) certified.  Additional information about the company is available at www.china-acm.com.

This press release contains “forward-looking statements” within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, and other factors. Additional Information regarding risks can be found in the Company’s Annual Report on Form 10K and in the Company’s recent report on Form 8K filed with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

OTI (OTIV) Wins Over $30 Million in Contracts for National eID Program

ISELIN, N.J., Jan. 5, 2010 (GLOBE NEWSWIRE) — On Track Innovations Ltd. (OTI) (Nasdaq:OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security & eID systems, payments, petroleum payments and other applications, announced today that it had signed contracts relating to a national eID program with total consideration that exceeds $30 million. Revenues from this Project in 2010 are expected to be over $20 million. An advance payment has been received to support the initial stages of the project which have already commenced.

The award of the project follows a successful completion by OTI of a pilot program and provides for the supply of new biometric-based electronic ID cards and other official documents (relating to birth, death, marriage, etc.), as well as the equipment required for the setup of the document issuing stations country-wide.

The contracts provide for the supply of OTI’s end-to-end turnkey solution, based on its proprietary state-of-the-art, field-proven eID Magna(TM) platform. The solution includes supply of both stationary and mobile stations for data enrollment and issuing stations, and the creation of a central national registry database, as well as the provision of contactless, highly-secured smart ID cards and a Biometric Automatic Fingerprint Identification System (AFIS), to detect and prevent double registration attempts by the same ID applicant.

OTI’s secured ID solution supports both online and offline communication, thereby allowing every citizen, living in cities and rural areas, to apply for an ID card regardless of the area’s communication infrastructure. This user-friendly solution is designed to provide maximum accuracy and security.

Oded Bashan, Chairman and CEO of OTI, stated, “We are proud to be part of this remarkable technological development and modernization effort. We are confident that the success, quality commitment and reliability OTI demonstrated in the pilot program has contributed to the continuation of the project.”

About OTI

Established in 1990, OTI (Nasdaq:OTIV) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking and loyalty programs. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.

The On Track Innovations Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5736

For more information on OTI, visit www.otiglobal.com, the content of which is not part of this press release.

Safe Harbor for Forward-Looking Statements:

This press release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions, we are making forward-looking statements. Because such statements deal with future events and are based on OTI’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding our beliefs, objectives, plans or current expectations, such as those regarding the expected revenues to be generated from the project for the National eID System and the expected timing for generating such revenues, or regarding the superiority of our technology and solutions. These forward-looking statements could be impacted by our ability to execute production on orders, as well as the other risk factors discussed in OTI’s Annual Report on Form 20-F for the year ended December 31, 2008, which is on file with the Securities and Exchange Commission. Although OTI believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

Sinclair (SBGI) Revises Fourth Quarter Net Broadcast Revenues Upwards

BALTIMORE, Jan. 4 /PRNewswire-FirstCall/ — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported that it expects its net broadcast revenues for the three months ended December 31, 2009 to be better than the guidance it provided on November 4, 2009.  The Company now expects fourth quarter net broadcast revenues to be approximately $153.8 million, or only 6.5% lower than the same period last year.  This is an improvement over its prior guidance which estimated net broadcast revenues to be approximately $143.3 to $146.3 million, or 11.0% to 12.8% down, as compared to fourth quarter 2008 net broadcast revenues of $164.4 million.  Advertising revenues from the auto sector has been a major driver of the revenue improvement due to increased spending by dealers and domestic manufacturers.   The Company now expects the auto category to be down by approximately 4.0% in the fourth quarter versus its prior estimate for auto to be down by high teen percents.

In addition, the Company announced that the affiliation agreements with the ABC Network for nine stations it owns and/or operates have been extended for one month while the two sides continue to negotiate.  The network affiliation agreements were due to expire on December 31, 2009.

The Company will report its actual fourth quarter results on February 17, 2010.

Forward-Looking Statements:

The matters discussed in this press release, particularly those in the section labeled “Outlook,” include forward-looking statements regarding, among other things, future operating results.  When used in this press release, the words “outlook,” “intends to,” “believes,” “anticipates,” “expects,” “achieves,” and similar expressions are intended to identify forward-looking statements.  Such statements are subject to a number of risks and uncertainties.  Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including and in addition to the assumptions identified in this release, the impact of changes in national and regional economies, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming costs, the market acceptance of new programming, the CW Television Network and MyNetworkTV programming, our news share strategy, our local sales initiatives, the execution of retransmission consent agreements, and the other risk factors set forth in the Company’s most recent reports on Form 10-Q and Form 10-K, as filed with the Securities and Exchange Commission.  There can be no assurances that the assumptions and other factors referred to in this release will occur.  The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements except as required by law.

About Sinclair:

Sinclair Broadcast Group, Inc., one of the largest and most diversified television broadcasting companies, owns and operates, programs or provides sales services to 58 television stations in 35 markets.  Sinclair’s television group reaches approximately 22% of U.S. television households and is affiliated with all major networks.  Sinclair owns equity interests in various non-broadcast related companies.

The Company regularly uses its website as a key source of Company information and can be accessed at www.sbgi.net.

Intevac, Inc. (IVAC) Receives Order for Eight 200 Lean(R) Systems

Jan. 4, 2010 (Business Wire) — Intevac, Inc. (NASDAQ:IVAC) today announced an order for eight 200 Lean^® magnetic disk sputtering systems, scheduled for delivery in the second and third quarter of 2010.

“We are very pleased to receive this capacity-driven order for our 200 Lean system,” commented Kevin Fairbairn, president and chief executive of Intevac. “The hard drive industry currently is seeing very high rates of media capacity utilization, requiring incremental new capacity to support the growth expected this year.”

About Intevac

Intevac was founded in 1991 and has two businesses: Equipment and Intevac Photonics.

Equipment Business: We are a leader in the design, manufacture and marketing of high-productivity lean manufacturing systems and have been producing Lean Thinking platforms since 1994. We are the leading supplier of magnetic media processing systems to the hard drive industry and offer highly efficient technology solutions to the photovoltaic industry and advanced etch systems to the semiconductor industry.

Intevac Photonics: We are a leader in the development and manufacture of leading edge, high-sensitivity imaging products and vision systems, as well as table-top and handheld Raman instruments. Markets addressed include military, industrial, physical science and life science.

For more information call 408-986-9888, or visit the company’s website at www.intevac.com.

200 Lean^® is a registered trademark of Intevac, Inc.

Safe Harbor Statement

This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,“ “projects,” “expects,” or “anticipates,” and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to; the need for capacity additions in 2010 and the timing of the 200 Lean shipments. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations. These risks include, but are not limited to: continued high utilization rates in the hard drive industry and failure to meet planned shipment dates, each of which could have a material impact on our business, our financial results, and the company’s stock price. These risks and other factors are detailed in the company’s regular filings with the U.S. Securities and Exchange Commission.

Digital Ally (DGLY) Achieves Record Revenue of Over $9.2 Million in Fourth Quarter of 2009

OVERLAND PARK, Kan. /PRNewswire-FirstCall/ — Digital Ally, Inc. (Nasdaq: DGLY), which develops, manufactures and markets advanced video surveillance products for law enforcement, homeland security and commercial security applications, today announced that, on a preliminary unaudited basis, its revenue for the three months ended set a new Company record of over $9.2 million.  This represents an increase of approximately 37% when compared with revenue of $6.7 million in the prior-year quarter and an increase of over 61% when compared with revenue of $5.7 million in the third quarter of 2009.  The Company’s previous quarterly revenue record of $8.9 million was posted in the three-month period ended .  For the year ended , revenue approximated $26.3 million on a preliminary unaudited basis, versus revenue of approximately $32.6 million in the year ended .

“After a rough first half of the year that was penalized by delays in new product introductions and operating inefficiencies related to the ramp-up in production of our DVM-750 In Car Digital Video System Integrated into a Rear View Mirror, we returned to net profitability in the third quarter and expect to report a further improvement in fourth quarter earnings,” stated Stanton E. Ross, Chief Executive Officer of Digital Ally, Inc.  “For the full year, we delivered approximately 1,700 DVM-750 systems to customers, including 800 systems in the fourth quarter of 2009.”

“We have significantly improved manufacturing productivity in recent months and look forward to 2010, when we expect sales growth to be driven by strong demand for the DVM-750 and our legacy DVM-500 Plus; increasing shipments of our new DM-500 Ultra video system for motorcycles, ATVs and boats, and the recently-introduced FirstVu wearable body camera; entry into the Fleet and Transportation market with the DVM-250; and our planned expansion in the second half of the year into the School Bus video and License Plate Recognition markets,” continued Ross.  “We ended the year 2009 with approximately 3,250 customers, representing law enforcement agencies in all 50 states and 36 foreign countries that are familiar with our products and reputation for quality customer services.  This should provide a solid platform for the introduction of new products, while our feature-rich DVM-750 should allow Digital Ally to make further inroads with large domestic and foreign law enforcement agencies.”

About Digital Ally, Inc.

Digital Ally, Inc. develops, manufactures and markets advanced technology products for law enforcement, homeland security and commercial security applications. The Company’s primary focus is Digital Video Imaging and Storage.  For additional information, visit www.digitalallyinc.com

The Company is headquartered in Overland Park, Kansas, and its shares are traded on The Nasdaq Capital Market under the symbol “DGLY”.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934.  These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. A wide variety of factors that may cause actual results to differ from the forward-looking statements include, but are not limited to, the following: the Company’s ability to deliver its new product offerings as scheduled and have them perform as planned or advertised; its ability to continue to increase revenue and profits in the current economic environment; the degree to which the Company’s new products may increase revenue and earnings in 2010 and enhance its ability to make further inroads into large domestic and foreign law enforcement agencies; its ability to continue to expand its share of the in-car video market in the domestic and international law enforcement communities; whether there will be a commercial market, domestically and internationally, for one or more of its new products; its ability to commercialize its products and production processes, including increasing its production capabilities to satisfy orders in a cost-effective manner; whether the Company will be able to adapt its technology to new and different uses, including being able to introduce new products; competition from larger, more established companies; its ability to attract and retain customers and quality employees; its ability to obtain patent protection on any of its products and, if obtained, to defend such intellectual property rights; the effect of changing economic conditions; and changes in government regulations, tax rates and similar matters. These cautionary statements should not be construed as exhaustive or as any admission as to the adequacy of the Company’s disclosures. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “projects”, “should”, or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained its annual report on Form 10-K for the year ended and its report on Form 10-Q for the nine months ended , as filed with the Securities and Exchange Commission.

China Direct Industries (CDII) Provides Financial Outlook for Fiscal 2010

DEERFIELD BEACH, FL — (Marketwire) — 01/04/10 — China Direct Industries, Inc. (“China Direct Industries”) (NASDAQ: CDII), a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution of basic materials, announced today its financial outlook for its fiscal 2010 year ending September 30, 2010.

As a result of improved visibility in the operations of its subsidiaries in China, coupled with continued price stabilization and improvement in demand in its magnesium segment, management has decided to reinitiate providing an annual financial outlook. Management sees improvement across all its business areas resulting in revenues for the full fiscal year of 2010 ranging between $130 and $150 million with net income ranging from $8 to $10 million. This guidance is predicated on management’s belief that magnesium prices and demand will continue to gradually improve in fiscal 2010. Management also believes its consulting operations will improve significantly as global markets continue to strengthen for small to medium sized Chinese entities.

Commenting on its outlook, Dr. James Wang, Chairman and CEO of China Direct Industries, Inc. stated, “We have navigated the company through unprecedented difficulties and have worked diligently to remain in a solid financial position with operations capable of resuming growth when markets improve. We believe that that time is at hand in 2010 and we intend to work diligently on a return to profitability and a resumption of growth for all our businesses in China and the U.S. We are confident in our ability to deliver and optimistic that our end markets will continue to solidify and improve as we move throughout fiscal 2010.”

About China Direct Industries, Inc.

China Direct Industries, Inc. (NASDAQ: CDII), is a U.S. owned holding company operating in China in two core business segments, pure magnesium production and distribution and distribution of basic materials in China. China Direct Industries also provides advisory services to China based companies in competing in the global economy. Headquartered in Deerfield Beach, Florida, China Direct Industries operates 10 subsidiaries throughout China. This infrastructure creates a platform to expand business opportunities globally while effectively and efficiently accessing the U.S. capital markets. For more information about China Direct Industries, please visit http://www.cdii.net.

DISCLOSURE NOTICE:

In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, China Direct Industries, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding revenues, net income and earnings, magnesium prices and demand and our consulting operations and performance. In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations:

--  Continued global economic weakness is expected to reduce demand for our
    products in each of our segments.
--  Fluctuations in the pricing and availability of magnesium and in levels
    of customer demand.
--  Changes in the prices of magnesium and magnesium-related products.
--  Our ability to implement our acquisition strategy of growing our
    business through increased magnesium production capacity and
    acquisitions.
--  Fluctuations in the cost or availability of coke gas and coal.
--  Loss of orders from any of our major customers.
--  The value of the equity securities we accept as compensation is subject
    to adjustment which could result in losses to us in future periods.
--  Our ability to effectively integrate our acquisitions and to manage our
    growth and our inability to fully realize any anticipated benefits of
    acquired business.
--  Our need for additional financing which we may not be able to obtain on
    acceptable terms, the dilutive effect additional capital raising
    efforts in future periods may have on our current shareholders and the
    increased interest expense in future periods related to additional debt
    financing.
--  Our dependence on certain key personnel.
--  Difficulties we have in establishing adequate management, cash, legal
    and financial controls in the PRC.
--  Our ability to maintain an effective system of internal control over
    financial reporting.
--  The lack various legal protections in certain agreements to which we
    are a party and which are material to our operations which are
    customarily contained in similar contracts prepared in the United
    States.
--  Potential impact of PRC regulations on our intercompany loans.
--  Our ability to assure that related party transactions are fair to
    our company.
--  Yuwei Huang, our executive vice president -- magnesium, director and an
    officer of several of our magnesium subsidiaries and his daughter Lifei
    Huang is also an owner and executive officer of several companies which
    directly compete with our magnesium business.
--  The impact of a loss of our land use rights.
--  Our ability to comply with the United States Foreign Corrupt Practices
    Act which could subject us to penalties and other adverse consequences.
--  Limits under the Investment Company Act of 1940 on the value of
    securities we can accept as payment for our business consulting
    services.
--  Our acquisition efforts in future periods may be dilutive to our then
    current shareholders.
--  The risks and hazards inherent in the mining industry on the operations
    of our basic materials segment.
--  Our inability to enforce our rights due to policies regarding the
    regulation of foreign investments in China.
--  The impact of environmental and safety regulations, which may increase
    our compliance costs and reduce our overall profitability.
--  The effect of changes resulting from the political and economic
    policies of the Chinese government on our assets and operations located
    in the PRC.
--  The impact of Chinese economic reform policies.
--  The influence of the Chinese government over the manner in which our
    Chinese subsidiaries must conduct our business activities.
--  The impact on future inflation in China on economic activity in China.
--  The impact of any recurrence of severe acute respiratory syndrome, or
    SAR's, or another widespread public health problem.
--  The limitation on our ability to receive and use our revenues
    effectively as a result of restrictions on currency exchange in China.
--  Delisting of our securities by NASDAQ from quotation on its exchange
    could limit investors' ability to make transactions in our securities
    and subject us to additional trading restrictions.
--  Recent substantial declines in the market price for shares of our
    common stock and continued highly volatile and wide market price
    fluctuations.

We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Transition Report on Form 10-K for the fiscal year ended September 30, 2009 and our reports on Form 10-Q.

Contact Information:

For the Company:

China Direct Industries, Inc.
Richard Galterio or
Lillian Wong
Investor Relations
Phone: 1-877-China-57
Email: richard.galterio@cdii.net
lillian.wong@cdii.net

Merz to Acquire BioForm Medical (BFRM)

FRANKFURT, Germany and SAN MATEO, Calif., Jan. 4, 2010 (GLOBE NEWSWIRE) — Merz Pharma Group (“Merz”), a privately-held company based in Frankfurt am Main, Germany, and BioForm Medical, Inc. (Nasdaq:BFRM) today announced that the Board of Directors of BioForm Medical and the Merz Shareholders Council have unanimously approved a definitive agreement under which Merz will acquire all of the outstanding shares of BioForm Medical for US$5.45 per share in cash pursuant to a cash tender offer followed by a second-step merger. The transaction has a total equity value of approximately US$253 million based on BioForm Medical’s outstanding shares of common stock.

The US$5.45 per share cash purchase price represents a premium of 55% over BioForm Medical’s 30-day average closing stock price, and a premium of 60% over the closing price of BioForm Medical’s common stock on December 31, 2009, the last trading day prior to today’s announcement.

This transaction advances Merz’s strategy of becoming a leading player in aesthetic medicine, a fast growing, multi-billion dollar global market. BioForm Medical is a leader in the dermal filler market in the United States and Europe with its flagship product, RADIESSE(R) dermal filler. Following completion of the transaction, BioForm Medical will become a wholly-owned subsidiary of Merz and will be renamed Merz Aesthetics. With BioForm Medical, the new Merz Aesthetics will be distinguished in the marketplace by its ability to offer dermal fillers based on three distinct technologies: RADIESSE(R) dermal filler, Belotero(R) and Novabel(R). With this broader dermal filler product offering and other innovative aesthetics products under development, including Polidocanol, a sclerotherapy agent, and Bocouture(R)/XEOMIN(R), a neurotoxin free of complexing protein, the combined company will be positioned to enable healthcare professionals to achieve excellent patient results and satisfaction.

“We are pleased with this transaction, which has been strongly supported by Merz shareholders. Together with BioForm Medical, we will have even greater potential for future growth in our worldwide, fast growing aesthetics and dermatological business,” said Dr. Jochen Huckmann, Chairman of the Merz Shareholders Council. “We are delighted to welcome BioForm Medical to our company and expect them to be an important part of Merz’s continued growth and success.”

“This transaction strengthens our operating foundation and builds on Merz’s history of providing innovative and effective products to the aesthetic medical community and the patients we serve,” said Dr. Martin Zugel, Chairman of the Merz Management Board. “With BioForm Medical, we expand our product offering in the high-growth aesthetic market and increase our direct commercial presence in the United States and Europe. Through the addition of BioForm Medical’s experienced commercial organization, we will be able to offer healthcare providers a broader range of high quality aesthetic treatment options, further enhancing Merz’s customer relationships and our competitive position.”

“After thorough and extensive analysis, the BioForm Medical Board of Directors unanimously approved this transaction with Merz, recognizing that it provides significant immediate value to our stockholders and is also in the best interests of our customers and employees,” said Steve Basta, Chief Executive Officer of BioForm Medical. “We are pleased to join Merz. I believe this combination offers a platform for future growth as well as expanded opportunities for our employees and our company as a whole. I am confident that with Merz’s expertise, resources, product portfolio and pipeline, we will be better positioned to develop and market the solutions our customers need. We look forward to working closely with the Merz team to ensure a smooth transition and complete the transaction as expeditiously as possible.”

BioForm Medical will maintain its headquarters in San Mateo, California, and its manufacturing, distribution and other operations in Franksville, Wisconsin. BioForm Medical’s Asia operations as well as its Netherlands operation, including its European sales team, will also become part of Merz Aesthetics. Merz Pharmaceuticals’ U.S. Pharmaceutical operations with its Clinical Dermatology and Neurology Business units will remain in Greensboro, North Carolina, with the U.S. aesthetics commercial organization led from San Mateo.

Mr. Basta and BioForm Medical’s management team and employees are expected to remain with the Company following completion of the transaction. Mr. Basta will serve as CEO of Merz Aesthetics U.S.

Transaction Summary

In January 2010, a wholly-owned acquisition subsidiary of Merz will commence a tender offer to purchase all of the outstanding shares of BioForm Medical common stock for US$5.45 per share, net to the seller in cash, without interest and less any required tax withholding. The Board of Directors of BioForm Medical has resolved to recommend to BioForm Medical’s stockholders that they tender their shares pursuant to the tender offer.

Following completion of the tender offer, Merz’s acquisition subsidiary will merge with BioForm Medical, with BioForm Medical surviving the merger as a wholly-owned subsidiary of Merz. Following the tender offer, Merz will commence a second-step merger in which any remaining BioForm Medical stockholders will receive the same price per share paid in the tender offer.

The transaction, which is expected to close in the first quarter of calendar year 2010, is conditioned on the tender of a majority of the outstanding shares of BioForm Medical common stock as well as regulatory approvals and other customary closing conditions. The transaction is not subject to financing.

Members of BioForm Medical’s Board of Directors and management team (and related entities), who collectively own approximately 26% of BioForm Medical’s outstanding shares of common stock, including Essex Woodlands Health Ventures, the Company’s largest stockholder which owns approximately 15% of BioForm Medical’s outstanding shares, have entered into agreements with Merz pursuant to which they have agreed to tender their shares in the Merz tender offer.

Advisors

Piper Jaffray & Co. is serving as financial advisor to Merz, and Dewey & LeBoeuf LLP is serving as legal counsel. J.P. Morgan Securities Inc. is serving as financial advisor to BioForm Medical, and Ropes & Gray LLP is serving as legal counsel.

About BioForm Medical, Inc.

BioForm Medical, Inc. is a medical aesthetics company headquartered in San Mateo, California, developing products that enhance aesthetic procedures performed in dermatology and plastic surgery practices. BioForm Medical’s lead product is RADIESSE(R) dermal filler, a long-lasting filler for use in facial aesthetics. BioForm Medical is developing several future aesthetics products, including a radiofrequency treatment to reduce nerve function in the forehead, a sclerotherapy treatment for spider veins, and a surgical adhesive for brow lifts. For more information about BioForm Medical, please visit www.bioform.com.

About the Merz Pharma Group

Merz’s focus is on drugs for treating neurological and psychiatric conditions and holds a leading position in the field of Alzheimer’s research. With memantine, Merz has developed the first active ingredient in the world for treating moderate to severe cases of Alzheimer’s. Worldwide, memantine is the second best-selling drug for treating Alzheimer’s. Another core competency of Merz lies in clinical and aesthetic dermatology. In addition to pharmaceuticals, Merz also serves the non-pharmacy related healthcare sector. In the Consumer Products segment, Merz Consumer Care is the leading provider of OTC medication, dietary supplements and skincare products in the German-speaking countries with its well-known tetesept(R) and Merz Spezial(R) brands. The Merz Pharma Group is an affiliate of Merz Group, a German based family held group of companies that also owns Senator, a leading promotional products manufacturer. The Merz Pharma Group employs 1,745 people worldwide (prior year: 1,619). The Company generated revenue of EUR 589.8 million (US$828.7 million)(1) in the fiscal year 2008/09 (prior year: EUR 546.5 million / US$863.5 million)(2).

Forward-Looking Statements

This press release contains forward-looking statements, including those relating to Merz’s anticipated acquisition of BioForm Medical and expected benefits of the transaction, such as the introduction of new products and products under development, or the timing thereof, the ability to obtain, and the timing of, future U.S. regulatory clearances and approvals, including for Polidocanol and Bocouture(R)/XEOMIN(R) neurotoxin, the potential for future growth in Merz’ worldwide aesthetics and dermatological business, the impact that the acquisition would have on Merz’ competitive positioning and future growth in its worldwide aesthetics and dermatological business, and the growth in the aesthetic market, generally. Forward-looking statements may contain words such as “expect,” “believe,” “may,” “can,” “should,” “will,” “forecast,” “anticipate” or similar expressions, and include the assumptions that underlie such statements. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those stated or implied, including but not limited to: the risk that the transaction will not be consummated in a timely manner or at all if, among other things, fewer than a majority of the shares of BioForm Medical common stock are tendered, clearance under the Hart-Scott-Rodino Antitrust Improvements Act is not obtained, or other closing conditions are not satisfied; the successful integration and performance of the acquired business; unknown, underestimated or undisclosed commitments or liabilities; the effectiveness of internal controls; Merz’s ability to: (i) realize synergies expected to result from the acquisition; (ii) successfully commercialize purchased products; (iii) develop, deliver and support a broad range of products, expand its markets, and develop new markets; (iv) attract, motivate and retain key employees; and (v) obtain and protect intellectual property rights in key technologies; and other risks described in BioForm Medical’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All forward-looking statements are based on managements’ estimates, projections and assumptions as of the date hereof and are subject to risks and uncertainties, which may cause BioForm Medical’s actual results to differ materially from the statements contained herein. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Neither Merz nor BioForm Medical undertake any obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.

Additional Information

The tender offer described herein has not commenced. This announcement is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of BioForm Medical. At the time the tender offer is commenced, Merz and its acquisition subsidiary will file a Tender Offer Statement on Schedule TO with the SEC and BioForm Medical will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer.

The tender offer will be made solely by the Tender Offer Statement. Holders of shares of BioForm Medical common stock are urged to read the Tender Offer Statement (including the Offer to Purchase, related Letter of Transmittal and all other offer documents) and the Solicitation/Recommendation Statement when they become available because they will contain important information that holders of shares of BioForm Medical common stock should consider before making any decision regarding tendering their securities.

Stockholders of BioForm Medical will be able to obtain free copies of the Tender Offer Statement, the Tender Offer Solicitation/Recommendation Statement and other documents filed with the SEC by Merz and BioForm Medical through the web site maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of these documents by contacting the Investor Relations department of BioForm Medical or by mailing a request to the information agent for the tender offer, MacKenzie Partners, Inc., 105 Madison Avenue, New York, New York 10016; by calling toll free at 1-800-322-2885 or call collect 212-929-5500; and at tenderoffer@mackenziepartners.com.