iGo (IGOI) Reports Fourth Quarter 2009 Financial Results

Mar. 10, 2010 (Business Wire) — iGo, Inc. (Nasdaq: IGOI), a leading provider of power management solutions, today reported financial results for the fourth quarter ended December 31, 2009. Net income attributable to iGo, Inc. was $90,000, or $0.00 per share, in the fourth quarter of 2009, compared with net income of $103,000, or $0.00 per share, in the same quarter of the prior year. Net income was positively impacted by a $234,000 income tax benefit recorded in the fourth quarter of 2009 relating to an application for a refund of federal alternative minimum taxes paid in 2005 and 2006 in connection with the Worker, Homeownership, and Business Assistance Act of 2009. Total revenue was $11.6 million in the fourth quarter of 2009, compared with revenue of $19.6 million in the fourth quarter of 2008.

According to Generally Accepted Accounting Principles in the United States (U.S. GAAP), iGo must consolidate the operating results of Mission Technology Group, which acquired the Company’s expansion/docking business in 2007, into its financial results until such time as the Company’s financial interest in the performance of Mission Technology Group no longer meets the criteria for consolidation. As a result of a recently issued accounting pronouncement, beginning with the first quarter of 2010, the Company has determined it will no longer be required to consolidate the operating results of Mission Technology Group.

Excluding revenues related to business lines acquired by Mission Technology Group, total revenues were $9.9 million in the fourth quarter of 2009, compared to $17.6 million in the same quarter of the prior year.

Excluding the operating results of the divested business, net loss was ($10,000), or ($0.00) per share, in the fourth quarter of 2009, compared to net income of $45,000, or $0.00 per share, in the fourth quarter of 2008. A detailed reconciliation of GAAP to non-GAAP financial results is provided in the financial tables at the end of this release.

Michael D. Heil, President and Chief Executive Officer of iGo, commented, “Our fourth quarter performance was in line with our expectations. Although total revenues were lower than the prior year, we have seen a substantial improvement in gross margin due to a shift from an OEM and private label distributor model to a direct sales to retailers model. Direct sales should prove increasingly beneficial as we continue to add new retail accounts and expand on our existing customer relationships in the future.”

New Product Introductions

During the fourth quarter of 2009, iGo introduced three new products:

• Power Smart Tower with iGo Green Technology – A tower-style surge protector that features four outlets with iGo Green Technology that reduce energy consumption, four “always on” outlets for devices requiring continuous power and two USB ports to conveniently charge mobile devices
• Power Smart Wall with iGo Green Technology – A wall-mounted surge protector with two power outlets with iGo Green Technology and two “always on” outlets for devices requiring continuous power
• Laptop Anywhere Charger with iGo Green Technology – An energy-saving charger that powers laptops and mobile devices at the same time from a wall, car or airplane power outlet

All three of these products feature iGo Green™ Technology, which is specifically designed to reduce energy consumption and virtually eliminate “Vampire Power.” Vampire Power (or standby power) results from the multitude of electronic devices that continue to consume power even when they are idle or shut-off, such as computers and printers.

Fourth Quarter Product Area Highlights

Revenue from the sale of power products for laptop computers and netbooks was $5.0 million in the fourth quarter of 2009, compared to $11.5 million in the same period of the prior year. The decline in revenue is primarily due to lower sales to private label distributors.

Revenue from the sale of power products for low-power mobile electronic devices (e.g. mobile phones, smart phones, MP3 players and digital cameras) was $4.7 million in the fourth quarter of 2009, compared with $6.0 million in the same period of the prior year. The decline in revenue is primarily due to lower sales to the retail channel.

Financial Highlights

Gross margin was 35.1% in the fourth quarter of 2009, compared to 27.9% in the fourth quarter of 2008. Excluding the operations of the divested business, gross margin was 32.7% in the fourth quarter of 2009, compared to 25.7% in the fourth quarter of 2008. The increase in gross margin is primarily due to a decline in sales to private label distributors.

Total selling, general and administrative expenses in the fourth quarter of 2009 were $4.3 million, compared with $6.2 million in the fourth quarter of 2008. Excluding the operations of the divested business, selling, general and administrative expenses were $3.6 million in the fourth quarter of 2009, compared to $5.3 million in the fourth quarter of 2008. The decline in selling, general and administrative expenses is primarily due to expense reductions made during the past year.

Excluding assets of the divested business, the Company’s balance sheet remained strong with $32.6 million in cash, cash equivalents, and short-term investments as of December 31, 2009. The Company continues to have no long-term debt and had a book value per share of $1.24 based on 32.4 million common shares issued and outstanding as of December 31, 2009.

Non-GAAP Financial Measures

Although the Company currently consolidates the operating results of Mission Technology Group, the acquirer of its docking/expansion business, for accounting purposes under U.S. GAAP, the Company believes that the discussion of operating results excluding the handheld and expansion/docking lines of business allows management and investors to evaluate and compare the Company’s operating performance on a more meaningful and consistent manner. In addition, management uses these measures internally for evaluation of the performance of the business, including the allocation of resources. These non-GAAP financial measures should be considered in addition to, not as a substitute for, or superior to, measures of financial performance in accordance with GAAP.

About iGo, Inc.

iGo, Inc., based in Scottsdale, Arizona, is a leading provider of power management solutions, including eco-friendly chargers for laptop computers and mobile electronic devices (e.g., mobile phones, PDAs, digital cameras, etc.). All of these chargers leverage iGo’s intelligent tip technology, which significantly minimizes electronic waste by enabling one charger to power/charge hundreds of brands and thousands of models of mobile electronic devices through the use of interchangeable tips. iGo is also the creator of a new, innovative patent-pending power saving technology that automatically eliminates wasteful and expensive standby or “vampire” power that is generated from chargers continuing to draw electricity when a mobile electronic device no longer requires charging or is disconnected from the charger.

iGo’s products are available at www.iGo.com as well as through leading resellers and retailers. For additional information call 480-596-0061, or visit www.igo.com.

iGo is a registered trademark of iGo, Inc. All other trademarks or registered trademarks are the property of their respective owners.

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. The words “believe,” “expect,” “anticipate,” “should,” and other similar statements of expectations identify forward-looking statements. Forward-looking statements in this press release include expectations that the Company will add more accounts in the future and that the Company’s business model will prove increasingly beneficial, including higher gross margins, as new accounts are added, and the belief that the Company can continue adding accounts and expanding its relationships with existing customers in the future. These forward-looking statements are based largely on management’s expectations and involve known and unknown risks, uncertainties and other factors, which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Risks that could cause results to differ materially from those expressed in these forward-looking statements include, among others, the loss of, and failure to replace, or substantial declines in orders from, any significant customers, most notably including RadioShack; the inability of the Company’s sales and marketing strategy to generate broader consumer awareness, increased adoption rates, or impact sell-through rates at the retail and wireless carrier level; the timing and success of product development efforts and new product introductions, including internal development projects as well as those being pursued with strategic partners; the timing and success of product developments, introductions and pricing of competitors; the timing of, or declines in, substantial customer orders; the availability of qualified personnel; the availability and performance of suppliers and subcontractors; increases in manufacturing or component costs; the ability to expand and protect the Company’s proprietary rights and intellectual property; the successful resolution of unanticipated and pending litigation matters; market demand and industry and general economic or business conditions; and other factors to which this press release refers. Additionally, other factors that could cause actual results to differ materially from those set forth in, contemplated by, or underlying these forward-looking statements are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009 under the heading “Risk Factors.” In light of these risks and uncertainties, the forward-looking statements contained in this press release may not prove to be accurate. The Company undertakes no obligation to publicly update or revise any forward-looking statements, or any facts, events, or circumstances after the date hereof that may bear upon forward-looking statements. Additionally, the Company does not undertake any responsibility to update you on the occurrence of unanticipated events which may cause actual results to differ from those expressed or implied by these forward-looking statements.

GeoEye (GEOY) Selects Lockheed Martin to Build Next-Generation Commercial Remote Sensing Satellite System

SUNNYVALE, Calif., March 11 /PRNewswire/ — Lockheed Martin Space Systems Company, a core business area of the Lockheed Martin Corporation (NYSE: LMT), announced today that it has been selected by GeoEye, Inc. (Nasdaq: GEOY) to build the company’s next-generation, high-resolution Earth imaging satellite system known as GeoEye-2. Financial terms are not being disclosed at this time.

Lockheed Martin has begun start-up activities and procurement of long-lead components to support the earliest possible launch date for GeoEye-2. This effort will lead to a contract award for the design, engineering and manufacturing of the satellite and the associated command and control system.

Lockheed Martin Space Systems, a world leader in the most advanced space-based systems for government and commercial customers, designed and built the world’s first commercial, high-resolution, Earth-imaging satellite, IKONOS, which has been providing 0.82-meter ground resolution imagery to GeoEye’s customers around the globe for more than a decade.

These map-accurate images are used for applications in national security, environmental monitoring, state and local government, disaster assessment and relief, land management and for many other geospatial applications.

“GeoEye and Lockheed Martin have had a long and productive partnership since building and launching the first commercial remote sensing satellite,” said Joanne Maguire, executive vice president, Lockheed Martin Space Systems. “Our GeoEye-2 solution will leverage our strong government and commercial satellite system expertise and focus on operational excellence and mission success to provide GeoEye with another world-class, high-performance spacecraft for its customers.”

Matthew O’Connell, GeoEye’s chief executive officer and president, said, “We look forward to working with Lockheed Martin again and eagerly anticipate the construction and successful launch of another cutting-edge satellite which will provide proven reliability and greatly enhanced imaging capabilities for our customers.”

Lockheed Martin’s GeoEye-2 solution will build on the company’s deep heritage and ability to execute within cost and schedule in this mission area and offer increased agility, resolution and flexibility over IKONOS and GeoEye-1. This will enable the National Geospatial-Intelligence Agency (NGA) to provide critical geospatial situational awareness and global security information to intelligence analysts, war fighters and decision makers. Commercial users will also benefit from access to GeoEye-2’s map-accurate color imagery. The spacecraft will feature a high-resolution ITT camera that has been in development for more than two years.

About GeoEye

GeoEye, Inc. is an international information services company serving government and commercial markets. The Company is recognized as one of the geospatial industry’s imagery experts, delivering exceptional quality imagery products, services and solutions to customers around the world. Headquartered in Dulles, Virginia, the Company has 535 employees dedicated to developing best-in-class geospatial information products and services. GeoEye is a public company listed on the NASDAQ stock exchange under the symbol GEOY. The Company provides support to academic institutions and non-governmental organizations through the GeoEye Foundation (http://www.geoeyefoundation.org). Additional information about GeoEye is available at www.geoeye.com.

About Lockheed Martin

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.

Media Contact: Steve Tatum, 408-742-7531; e-mail, Stephen.o.tatum@lmco.com

SOURCE Lockheed Martin

Clean Energy Fuels’ (CLNE) Volume and Adjusted EBITDA Rose in the Fourth Quarter of 2009

Mar. 10, 2010 (Business Wire) — Clean Energy Fuels Corp. (NASDAQ:CLNE) today announced operating results for the fourth quarter and year ended December 31, 2009.

Gasoline gallon equivalents (Gallons) delivered during the fourth quarter of 2009 totaled 29.5 million, up 58% from 18.7 million Gallons in the same period a year ago. For the year, volume increased 37% to 101.0 million Gallons, compared with 73.5 million Gallons in 2008. Gallons include the Company’s sales of CNG, LNG, and biomethane and the Gallons associated with providing operations and maintenance services.

Adjusted EBITDA for the fourth quarter of 2009 was $5.6 million, compared to a loss of $3.2 million in the fourth quarter of 2008. Adjusted EBITDA for 2009 was $15.5 million, compared with a loss of $6.8 million for 2008. Adjusted EBITDA is described below and reconciled to the GAAP measure operating income (loss) attributable to Clean Energy.

Non-GAAP earnings per share for the fourth quarter of 2009 was $0.02, compared to a non-GAAP loss per share of $0.12 in the fourth quarter of 2008. Non-GAAP loss per share for 2009 was $0.03, compared with $0.33 for 2008. Non-GAAP EPS (or Non-GAAP earnings/loss per share) is described below and reconciled to the GAAP measure net income (loss) per share.

Net loss for the fourth quarter of 2009 was $1.9 million, or $0.03 per share, and was $23.7 million, or $0.49 per share, in the fourth quarter of 2008. For 2009, the net loss was $33.2 million, or $0.60 per share, compared to a net loss of $44.5 million, or $0.98 per share, for 2008. The fourth quarter and full year 2008 amounts include non-recurring charges of $14.9 million and $18.6 million, respectively, related to a California bond initiative. The fourth quarter and full year 2009 amounts include a gain of $0.4 million and a loss of $17.4 million, respectively, related to accounting treatment that requires the Company to value its Series I warrants and mark them to market.

Revenue for the quarter ended December 31, 2009 totaled $42.2 million, compared with $28.3 million for the fourth quarter of 2008. For the year ended December 31, 2009, revenue totaled $131.5 million, compared with $125.9 million for 2008.

Andrew J. Littlefair, Clean Energy’s President and Chief Executive Officer, stated, “We are pleased with our improved financial results and our volume growth for the year, which was achieved through growth in each of our key markets of refuse, regional trucking, airports and transit. This is particularly noteworthy in light of the tough economic climate in 2009. The fact that we saw acceleration in station construction and deal flow at a time when all of our customers were focused on cutting their costs is really a testament to the elevated importance of cleaner fuels that we are seeing in this country. With $67.1 million in cash and cash equivalents on hand at year end, we believe we are well positioned to continue to grow our business in 2010.”

Non-GAAP Financial Measures

To supplement the Company’s consolidated financial statements, which statements are prepared and presented in accordance with generally accepted accounting principals (“GAAP”), the Company uses non-GAAP financial measures called non-GAAP earnings per share (non-GAAP EPS or non-GAAP earnings/loss per share) and Adjusted EBITDA. Management has presented non-GAAP EPS and Adjusted EBITDA because it uses these non-GAAP financial measures to assess its operational performance, for financial and operational decision making, and as a means to evaluate period-to-period comparisons on a consistent basis. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance by excluding certain non-cash or non-recurring expenses that are not directly attributable to its core operating results. In addition, management believes these non-GAAP financial measures are useful to investors because: (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making; (2) they exclude the impact of non-cash or non-recurring items that are not directly attributable to the Company’s core operating performance and that may obscure trends in the core operating performance of our business; and (3) they are used by institutional investors and the analyst community to help them analyze the results of Clean Energy’s business. In future quarters, the Company may make adjustments for additional non-recurring significant expenditures or other significant non-cash charges in order to present non-GAAP financial measures that are indicative of the Company’s core operating performance.

Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from or as a substitute for the Company’s GAAP results. The Company expects to continue reporting non-GAAP financial measures, adjusting for the items described below, and the Company expects to continue to incur expenses similar to the non-cash, non-GAAP adjustments described below. Accordingly, exclusion of these and other similar items in the presentation of non-cash, non-GAAP financial measures should not be construed as an inference that these costs are unusual, infrequent or non-recurring. Non-GAAP EPS and Adjusted EBITDA are not recognized terms under GAAP and do not purport to be an alternative to GAAP earnings/loss per share or operating loss as an indicator of operating performance or any other GAAP measure. Moreover, because not all companies use identical measures and calculations, the presentation of non-GAAP EPS or Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. These limitations are compensated for by using non-GAAP EPS and Adjusted EBITDA in conjunction with traditional GAAP operating performance and cash flow measures.

Non-GAAP EPS

Non-GAAP EPS is defined as net income (loss) attributable to Clean Energy, plus employee-related stock based compensation charges, net of related tax benefits, plus or minus any mark-to-market losses or gains on the Company’s Series I warrants, and for 2008, plus certain non-recurring charges related to a California bond initiative, the total of which is divided by the Company’s weighted average shares outstanding on a diluted basis. The Company’s management believes that presenting non-GAAP EPS, excluding non-cash charges related to stock-based compensation, provides useful information to investors because of varying available valuation methodologies, the volatility of the expense (which depends on market forces outside of management’s control), and the subjectivity of the assumptions and the variety of award types that a company can use under the relevant accounting guidance may obscure trends in the Company’s core operating performance. Similarly, the Company’s management believes that excluding the non-cash, mark-to-market losses or gains on the Company’s Series I warrants is useful to investors because the valuation of the Series I warrants is subject to a number of subjective assumptions, and the amount of the loss or gain is derived from market forces outside of management’s control.

The table below shows non-GAAP EPS and also reconciles these figures to the GAAP measure net income (loss) attributable to Clean Energy:

*The three-month and year ended December 31, 2008 loss amounts include approximately $0.3 million and $0.6 million, respectively, of losses on certain futures contracts related to a fixed-price customer contract bid that did not qualify for hedge accounting. We no longer enter into fixed-price customer contracts unless we hedge our natural gas commodity exposure under the contract or obtain pre-approval from our Derivative Committee not to hedge the contract.

Adjusted EBITDA

Adjusted EBITDA is defined as net income (loss) attributable to Clean Energy, plus or minus income tax expense or benefit, plus or minus interest expense or income, net, plus depreciation and amortization expense, plus employee-related stock based compensation charges, net of related tax benefits, plus or minus any mark-to-market losses or gains on the Company’s Series I warrants, and for 2008, plus certain non-recurring charges related to a California bond initiative. Management internally uses Adjusted EBITDA to monitor compliance with certain financial covenants in the Company’s credit agreement with PlainsCapital Bank and to determine elements of executive and employee compensation.

The table below shows Adjusted EBITDA and also reconciles these figures to the GAAP measure net income (loss) attributable to Clean Energy:

*The three-month and year ended December 31, 2008 loss amounts include approximately $0.3 million and $0.6 million, respectively, of losses on certain futures contracts related to a fixed-price customer contract bid that did not qualify for hedge accounting. We no longer enter into fixed-price customer contracts unless we hedge our natural gas commodity exposure under the contract or obtain pre-approval from our Derivative Committee not to hedge the contract.

Conference Call

The Company will host an investor conference call today at 4:30 p.m. Eastern (1:30 p.m. Pacific). The live call can be accessed from the U.S. by dialing 877.407.4018 from the U.S. International callers can dial 201.689.8471. A telephone replay will be available approximately two hours after the call concludes and will be available through Wednesday, March 24, 2010, by dialing 877.660.6853 from the U.S., or 201.612.7415 from international locations, and entering account number 3055 and conference ID number 344398.

There also will be a simultaneous webcast available on the Investor Relations section of the Company’s web site at www.cleanenergyfuels.com, which will be archived on the Company’s web site for 30 days.

About Clean Energy Fuels

Clean Energy Fuels is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling approximately 17,800 vehicles at 196 strategic locations across the U.S. and Canada. Clean Energy owns and operates two LNG production plants, one in Willis, Texas and one in Boron California, with combined capacity of 260,000 LNG gallons per day and designed to expand to 340,000 LNG gallons per day as demand increases. It also owns and operates a landfill gas processing facility in Dallas, TX that produces renewable biomethane gas for delivery in the nation’s gas pipeline network. Clean Energy also owns BAF Technologies, Inc., which is a leading provider of natural gas vehicle systems and conversions for taxis, limousines, vans, pickup trucks and shuttle busses.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, such as statements regarding the demand for products and services from new and existing customers and the Company’s ability to continue to grow its business. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, changes in the prices of natural gas relative to gasoline and diesel, the U.S. government’s failure to renew the Volumetric Excise Tax Credit for CNG and LNG, the acceptance of natural gas vehicles in fleet markets, the availability of natural gas vehicles, the progress of the clean air plans at the Ports of Los Angeles and Long Beach, relaxation or waiver of fuel emission standards, the inability of fleets to access capital to purchase natural gas vehicles, the Company’s success in obtaining government grants or subsidies for alternative fuel providers, the unpredictability of the legislative process, construction and permitting delays at station construction projects and the development of competing technologies that are perceived to be cleaner and more cost-effective than natural gas. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law. Additionally, the Company’s Form 10-K filed on March 10, 2010 with the SEC (www.sec.gov) contain risk factors which may cause actual results to differ materially from the forward-looking statements contained in this press release.

TLCVision (TEAR) to Study DED With the TearLab Osmolarity System

SAN DIEGO, March 10, 2010 (GLOBE NEWSWIRE) — OccuLogix, Inc., dba TearLab Corporation (“TearLab”) (Nasdaq:TEAR) (TSX:TLB), announced today that TLCVision Corporation, North America’s premier eye care services company, will be incorporating the TearLab™ Osmolarity System (“TearLab System”) in eight of its U.S. refractive surgery centers to study Dry Eye Disease (“DED”) symptoms as they relate to LASIK surgery.

The TearLab System is intended to measure the osmolarity of human tears to aid in the diagnosis of DED in conjunction with other methods of clinical evaluation. Using a novel lab-on-a-chip approach, the TearLab System requires less than 50 nL (nanoliters) of tear fluid and displays quantitative osmolarity results in less than 30 seconds. By requiring such a small amount of tears, the TearLab System eliminates the challenges that previously prevented point-of-care osmolarity testing. In addition, it is simple enough to be operated by a technician, greatly improving patient throughput either an office or center setting.

In keeping with its ongoing commitment to provide the best possible outcomes and the highest levels of care for patients, TLCVision will be using the TearLab System to study both pre- and post-operative tear osmolarity levels and treatments with the goal of improving outcomes and reducing post-operative DED symptoms.

Michael A. Lemp, MD, TearLab’s chief medical officer, commented, “Tear hyper-osmolarity is a core mechanism in DED causing damage to the ocular surface and tear osmolarity is a reliable, highly sensitive and specific test for the clinical diagnosis of this disease and a great tool for doctors and a major benefit to patients.”

James B. Tiffany, President and Chief Operating Officer of TLCVision, commented, “TLCVision’s ongoing commitment to clinical services, quality assurance and patient outcomes are unparalleled as the industry leader. We believe that the incorporation of the TearLab System has the potential to improve patient screening, counseling and most significantly the quality of surgical outcome.

About OccuLogix, Inc. dba TearLab Corporation

OccuLogix, Inc. dba TearLab Corporation (www.tearlab.com) develops and markets lab-on-a-chip technologies that enable eye care practitioners to improve standard of care by objectively and quantitatively testing for disease markers in tears at the point-of-care. The TearLab Osmolarity Test, for diagnosing Dry Eye Disease, is the first assay developed for the award-winning TearLab Osmolarity System. Headquartered in San Diego, CA, TearLab Corporation’s common shares trade on the NASDAQ Capital Market under the symbol ‘TEAR’ and on the Toronto Stock Exchange under the symbol ‘TLB’.

About TLCVision

TLCVision is North America’s premier eye care services company, providing eye doctors with the tools and technologies needed to deliver high-quality patient care. Through its centers’ management, technology access service models, extensive optometric relationships, direct to consumer advertising and managed care-contracting strength, TLCVision maintains leading positions in Refractive, Cataract and Eye Care markets. Information about vision correction surgery can be found on the TLC Laser Eye Centers’ website at www.tlcvision.com.

Forward-Looking Statements

This press release may contain forward-looking statements. These statements relate to future events and are subject to risks, uncertainties and assumptions about the Company. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. Many factors may cause our actual results to differ materially from any forward-looking statement, including the factors detailed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities, including but not limited to our Forms 10-K and 10-Q. We do not undertake to update any forward-looking statements.

SMTC Corp. (SMTX) Reports Fourth Quarter Sequential Growth

TORONTO, March 10 /PRNewswire-FirstCall/ – SMTC Corporation (Nasdaq: SMTX, TSE: SMX), a global electronics manufacturing services provider, today reported 2009 fourth quarter unaudited results. Revenue for the quarter was $51.2 million increasing $7.0 million or 16% sequentially. Net earnings from continuing operations for the quarter of $2.4 million compares with $0.5 million in the third quarter of 2009 and $1.0 million for the comparable period last year. Net earnings after discontinued operations for the quarter of $2.2 million compares with net earnings of $0.2 million in the third quarter of 2009 and a net loss of $0.1 million for the fourth quarter of 2008. Net earnings for the fourth quarter included a $0.5 million income tax recovery. The Company produced $55.3 million in revenue in the fourth quarter of 2008, a period largely unaffected by the global recession.

Gross profit for the fourth quarter was $5.9 million or 11.5% of revenue compared with $3.7 million or 8.5% for the previous quarter and $4.8 million or 8.6% for the fourth quarter of 2008.

Despite an extremely challenging economic environment in which SMTC’s revenue declined from $206.9 million to $179.5 million, the Company produced net earnings from continuing operations for the full 2009 year of $2.4 million increasing $0.8 million or 46% over 2008 results. Gross profit also increased to 9.8% from 8.9% of revenues in the corresponding period.

In spite of continuing North American economic headwinds, SMTC produced strong fourth quarter results with revenue and earnings from continuing operations increasing sequentially by 16% and over 400% respectively above the third quarter of 2009.” stated John Caldwell, President and Chief Executive Officer. “Our revenue growth came from seven of our top ten customers together with five new customers at the early stage of ramping production. Our solid earnings performance reflects the effect of previous quarters’ expense reduction initiatives and continuing cost containment measures. Unquestionably, 2009 was a difficult year as our customers’ end markets were significantly adversely affected by the recession that ultimately impacted our revenue. However, through this period we were able to reduce costs and substantially increase overall profitability and margins.”

“In the quarter our working capital, excluding cash, and net debt levels increased by $5.4 million and $3.1 million, respectively, due to increased revenue, the delay in receipt of a significant customer payment until immediately subsequent to quarter end and the effect of industry wide component shortages that caused a substantially higher end of quarter customer order backlog,” stated Jane Todd, SVP Finance and Chief Financial Officer. “We expect to improve our working capital and lower debt through the later part of 2010 as supply chain issues abate and timing issues reverse.”

“Historically, the Company has not provided specific full year financial guidance. However, in the first quarter there are signs of some economic recovery and customer inventory rebuilding. Accordingly, we are experiencing continued strong order flow from longstanding and newer customers together with a strong opening backlog, which should result in continued sequential revenue growth in the first quarter, and continuing strength through the first half of the year.” stated Mr. Caldwell.

About SMTC Corporation: SMTC Corporation, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC facilities span a broad footprint in the United States, Canada, Mexico, and China, with more than 1,000 full time employees. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, computing and communication market segments.

SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq National Market System under the symbol SMTX and on the Toronto Stock Exchange under the symbol SMX. For further information on SMTC Corporation, please visit our website at www.smtc.com (http://www.smtc.com/)

Note for Investors: The statements contained in this release that are not purely historical are forward-looking statements which involve risk and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These statements may be identified by their use of forward-looking terminology such as “believes”, “expect”, “may”, “should”, “would”, “will”, “intends”, “plans”, “estimates”, “anticipates” and similar words, and include, but are not limited to, statements regarding the expectations, intentions or strategies of SMTC Corporation. For these statements, we claim the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995. Risks and uncertainties that may cause future results to differ from forward-looking statements include the challenges of managing quickly expanding operations and integrating acquired companies, fluctuations in demand for customers’ products and changes in customers’ product sources, competition in the EMS industry, component shortages, and others discussed in the Company’s most recent filings with securities regulators in the United States and Canada. The forward-looking statements contained in this release are made as of the date hereof and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ materially from those projected in the forward-looking statements, except as required by law.

    Consolidated Statements of Operations and Comprehensive Income
    (Unaudited)

                           Three months ended          Twelve months ended
    -------------------------------------------------------------------------
    (Expressed in
     thousands of
     U.S. dollars,
     except number
     of shares and       January 3,   January  4,    January 3,    January 4,
     per share amounts)       2010          2009          2010          2009
    -------------------------------------------------------------------------

    Revenue           $     51,237  $     55,260  $    179,509  $    206,879
    Cost of sales           45,329        50,499       161,951       188,419
    -------------------------------------------------------------------------
    Gross profit             5,908         4,761        17,558        18,460
    Selling, general
     and
     administrative
     expenses                3,405         3,301        12,767        12,892
    Other recoveries             -          (185)            -          (185)
    Restructuring
     charges                     -            50           783           493
    Loss on
     extinguishment
     of debt                     -             -             -           613
    -------------------------------------------------------------------------
    Operating earnings       2,503         1,595         4,008         4,647
    Interest expense           622           672         1,960         2,914
    -------------------------------------------------------------------------
    Earnings from
     continuing
     operations before
     income taxes            1,881           923         2,048         1,733
    Income tax expense
     (recovery)
    Current                   (567)          (44)         (500)          119
    Deferred                    62             4           191            (2)
    -------------------------------------------------------------------------
                              (505)          (40)         (309)          117
    -------------------------------------------------------------------------
    Net earnings from
     continuing
     operations              2,386           963         2,357         1,616
    Net loss from
     discontinued
     operations               (208)       (1,100)       (5,952)       (7,511)
    -------------------------------------------------------------------------
    Net earnings
     (loss), also
     being
     comprehensive
     income (loss)    $      2,178  $       (137) $     (3,595) $     (5,895)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Basic earnings
     (loss) per
     share
    - continuing
     operations       $       0.16  $       0.07  $       0.16  $       0.11
    - discontinued
     operations       $      (0.02) $      (0.08) $      (0.41) $      (0.51)
    -------------------------------------------------------------------------
    Basic (loss)
     earnings per
     share            $       0.14  $      (0.01) $      (0.25) $      (0.40)

    Diluted earnings
     (loss) per
     share
    - continuing
     operations       $       0.16  $       0.07  $       0.16  $       0.11
    - discontinued
     operations       $      (0.02) $      (0.08) $      (0.41) $      (0.51)
    -------------------------------------------------------------------------
    Diluted (loss)
     earnings per
     share            $       0.14  $      (0.01) $      (0.25) $      (0.40)
    Weighted average
     number of shares
     outstanding
    Basic               14,646,333    14,646,333    14,646,333    14,646,333
    Diluted             14,646,333    14,646,333    14,646,333    14,798,731

    Consolidated Balance Sheets as of
    (Unaudited)

    -------------------------------------------------------------------------
    (Expressed in
     thousands of                                    January 3,    January 4,
     U.S. dollars)                                        2010          2009
    -------------------------------------------------------------------------
    Assets

    Current assets:
    Cash                                          $      1,589  $      2,623
    Accounts receivable - net                           37,688        28,648
    Inventories                                         37,026        36,823
    Prepaid expenses                                     2,122         1,203
    -------------------------------------------------------------------------
                                                        78,425        69,297
    Property, plant and equipment                       14,266        16,743
    Deferred financing fees                                627           786
    Deferred income taxes                                  290           479
    -------------------------------------------------------------------------
                                                  $     93,608  $     87,305
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Liabilities and Shareholders' Equity

    Current liabilities:
    Accounts payable                              $     41,589  $     37,209
    Accrued liabilities                                  6,218         6,909
    Income taxes payable                                   540           504
    Current portion of long-term debt                    5,013         2,738
    Current portion of capital lease obligations           789         1,101
    -------------------------------------------------------------------------
                                                        54,149        48,461

    Long-term debt                                      20,666        15,943
    Capital lease obligations                              543         1,587

    Shareholders' equity:
    Capital stock                                        7,093         7,456
    Warrants                                                 -        10,372
    Additional paid-in capital                         253,304       249,655
    Deficit                                           (242,147)     (246,169)
    -------------------------------------------------------------------------
                                                        18,250        21,314
    -------------------------------------------------------------------------
                                                  $     93,608  $     87,305
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Consolidated Statements of Cash Flows
    (Unaudited)

                           Three months ended          Twelve months ended
    -------------------------------------------------------------------------
    (Expressed in
     thousands of
     U.S. dollars)
    -------------------------------------------------------------------------

    Cash provided by     January 3,   January  4,    January 3,    January 4,
     (used in):               2010          2009          2010          2009
    -------------------------------------------------------------------------
    Operations:
    Net earnings
     (loss)           $      2,178  $       (137) $     (3,595) $     (5,895)
    Items not
     involving cash:
    Depreciation               784           714         2,877         3,302
    Gain on disposition
     of property, plant
     and equipment               -          (185)         (224)         (185)
    Other                        -           100             -           100
    Impairment of property,
     plant and equipment         -             -             -         4,921
    Deferred income taxes       60            10           189             4
    Non-cash interest          118            57           310           352
    Stock-based
     compensation              326           (84)          582           133
    Loss on extinguishment
     of debt                     -             -             -           613
    -------------------------------------------------------------------------
                             3,466           475           139         3,345
    Change in non-cash
     operating working
     capital:
      Accounts
       receivable           (7,555)        1,976        (9,040)       10,195
      Inventories           (9,713)        3,827          (203)       (5,944)
      Prepaid expenses        (664)          592          (919)         (263)
      Income taxes payable     (38)          (56)           36          (100)
      Accounts payable      11,879        (3,448)        4,380            37
      Accrued liabilities     (430)       (1,528)         (706)         (162)
    -------------------------------------------------------------------------
                            (3,055)        1,838        (6,313)        7,108
    Financing:
    Borrowings of
     long-term debt - net    5,811           304         9,736        19,149
    Repayment of long-term
     debt                   (1,375)         (800)       (2,738)      (21,452)
    Principal payment of
     capital lease
     obligations              (170)         (254)       (1,356)         (908)
    Debt issuance and
     deferred financing
     costs                       -          (145)         (151)         (395)
    -------------------------------------------------------------------------
                             4,266          (895)        5,491        (3,606)
    Investing:
    Purchase of property,
     plant and equipment       (58)         (320)       (1,042)       (1,329)
    Proceeds from sale of
     property, plant and
     equipment                   -             -           830           268
    -------------------------------------------------------------------------
                               (58)         (320)         (212)       (1,061)
    -------------------------------------------------------------------------
    Increase (decrease)
     in cash and cash
     equivalents             1,153           623        (1,034)        2,441
    Cash, beginning of
     period                    436         2,000         2,623           182
    -------------------------------------------------------------------------
    Cash, end of the
     period           $      1,589  $      2,623  $      1,589  $      2,623
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Supplementary Information:

    Reconciliation of EBITDA
    -------------------------------------------------------------------------

                           Three months ended          Twelve months ended
                        -------------------------  --------------------------

                         January 3,   January  4,    January 3,    January 4,
                              2010          2009          2010          2009
    -------------------------------------------------------------------------
    Operating
     earnings         $      2,503  $      1,595  $      4,008  $      4,647
    Add:
      Depreciation             784           714         2,877         3,302
      Restructuring
       charges                   -            50           783           493
      Loss on
       extinguishment
       of debt                   -             -             -           613
    -------------------------------------------------------------------------
    EBITDA                   3,287         2,359         7,668         9,055
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

Perma-Fix (PESI) Reports Fourth Quarter and 2009 Results

Mar. 10, 2010 (GlobeNewswire) —

CONTACT:  Perma-Fix Environmental Services, Inc.
          Dr. Louis F. Centofanti, Chairman and CEO
          (770) 587-9898

          Crescendo Communications, LLC
          U.S. Investor Relations
          David K. Waldman
          (212) 671-1021

          Herbert Strauss
          European Investor Relations
          +43 316 296 316
          herbert@eu-ir.com

Harbin Electric (HRBN) Reports Record Fourth Quarter and Full Year 2009 Results

HARBIN, China, Mar. 10, 2010 (PRNewswire-Asia-FirstCall) — Harbin Electric, Inc. (“Harbin Electric” or the “Company”, Nasdaq: HRBN), a leading developer and manufacturer of a wide array of electric motors in the People’s Republic of China, today reported its preliminary full-year and fourth quarter 2009 financial results. The Company will release fully audited financials in its 10K filing in the coming days and does not expect any material changes.

    Fourth Quarter 2009 Financial Highlights
    -- Total revenues were $107.2 million, up 209% from $34.7 million in 4Q08
    -- Adjusted net income attributable to controlling interest (excluding
       non-recurring items) was $19.4 million, up 220% from $6.0 million
       in 4Q08
    -- GAAP earnings attributable to controlling interest were $0.59 per
       diluted share, compared with $0.27 in 4Q08
    -- Adjusted earnings attributable to controlling interest (excluding
       non-recurring items) were $0.62 per diluted share

    Fiscal Year 2009 Financial Highlights
    -- Total revenues were $223.2 million, up 85% from $120.8 million in 2008
    -- Adjusted net income attributable to controlling interest (excluding
       non-recurring items) was $43.8 million, up 73% from $25.4 million
       in 2008
    -- GAAP earnings attributable to controlling interest were $0.77 per
       diluted share, compared with $1.19 in 2008
    -- Adjusted earnings attributable to controlling interest (excluding
       non-recurring items) were $1.71 per diluted share

    Financial Summary for Fourth Quarter 2009 versus Fourth Quarter 2008

                                            4Q09          4Q08         YoY%
                                                                       Change

    Revenue                             $107,213,986    $34,743,375     209%

    Gross Profit                         $36,063,886    $11,489,202     214%
    Gross Profit Margin                        33.6%         33.10%      --
    Operating Income                     $25,962,245     $7,013,528     270%
    Operating Margin                           24.2%          20.2%      --
    Net Income Attributable to
     Controlling Interest                $18,319,775     $6,040,852     203%
    Adjusted Net Income Attributable to
     Controlling Interest(*)             $19,356,385     $6,040,852     220%
    Adjust Net Margin(*)                       18.1%          17.4%      --
    Diluted EPS Attributable to
    Controlling Interest                       $0.59          $0.27     119%
    Adjusted Diluted EPS Attributable to
    Controlling Interest(*)                    $0.62          $0.27     130%

    (*)See Reconciliation of non-GAAP measure to GAAP net income. Also see
       "About Non-GAAP Financial Measures" toward the end of this release

In the fourth quarter of 2009, total sales more than tripled to $107.2 million compared to $34.7 million in 4Q08, which was negatively impacted by the global financial crisis. The acquisition of Xi’an Tech Full Simo Electric Motor Co. Ltd. (“Xi’an Simo”) in October 2009 contributed approximately $44 million in the fourth quarter. Excluding this acquisition, sales in the fourth quarter increased 82% year over year. The higher sales were primarily driven by increased sales in all product lines resulting from strong economic growth in China. The linear motor propulsion systems developed by the Company for coal transportation trains contributed $7.3 million to total sales as the Company started the delivery during the quarter and 116 oil pumps were sold in 4Q09, up from 31 units in 4Q08.

Net income attributable to controlling interest in the quarter totaled $18.3 million ($0.59 per diluted share), up from $6.0 million ($0.27 per diluted share) in 4Q08. Excluding the $1.04 million non-cash charge for the change in fair value of warrants, adjusted net income for 4Q09 was $19.4 million ($0.62 per diluted share). The following table presents the reconciliation of non-GAAP measure to GAAP net income for the quarter versus 4Q08.

                                                4Q09           4Q08
    Net Income Attributable to
     Controlling Interest                   $18,319,775     $6,040,852
     Add back:
      Change in fair value of warrant        $1,036,610             $0
    Adjusted Net Income Attributable
     to Controlling Interest                $19,356,385     $6,040,852
    Diluted EPS Attributable to
     Controlling Interest                         $0.59          $0.27
     Add back:
      Change in fair value of warrant             $0.03          $0.00
    Adjusted EPS Attributable to
     Controlling Interest                         $0.62          $0.27

The table below presents the sales distribution and gross profit margin by each of our product line in 4Q09 compared to 4Q08.

                              Percent of Total
    Product Line                 Revenues             Gross Profit Margin
                              4Q09       4Q08          4Q09       4Q08
    Linear Motors and
    Related Systems           19.0%      36.9%         61.6%      52.5%
    Specialty Micro-Motors    17.2%      22.3%         37.9%      40.3%
    Rotary Motors             63.2%      36.5%         23.9%      10.5%
     Weihai                   22.1%      36.5%          9.6%      10.5%
     Xi'an                    41.1%         0%         31.6%       N/A
    Others                     0.6%       4.3%         49.3%      47.0%
    Total/Average            100.0%     100.0%         33.6%      33.1%

    Financial Summary for 2009 versus 2008

                                            2009          2008         YoY%
                                                                       Change
    Revenue                              $223,234,394  $120,820,302     85%
    Gross Profit                          $76,612,174   $47,476,781     61%
    Gross Profit Margin                          34.3%         39.3%    --
    Operating Income                      $55,847,301   $34,393,177     62%
    Operating Margin                             25.0%         28.5%    --
    Net Income Attributable to
     Controlling Interest                 $19,646,781   $25,378,699    (23)%
    Adjusted Net Income Attributable to
     Controlling Interest(*)              $43,813,233   $25,378,699     73%
    Adjusted Net Margin*                         19.6%         21.0%    --
    Diluted EPS  Attributable to
     Controlling Interest                       $0.77         $1.19    (35)%
    Adjusted Diluted EPS  Attributable
     to Controlling Interest*                   $1.71         $1.19     44%

    (*) See Reconciliation of non-GAAP measure to GAAP net income. Also see
        "About Non-GAAP Financial Measures" toward the end of this release

For the year 2009, revenues increased by 85% to $223.2 million from $120.8 million in 2008. Strong sales growth resulted from the acquisition of Xi’an Simo ($44 million) as well as higher sales across all product lines. The Company delivered 519 oil pumps compared to 214 units in 2008. Linear motor propulsion systems developed for coal transportation trains contributed $7.3 million to our sales as the Company started to deliver units during the 4th quarter.

Net income attributable to controlling interest in 2009 totaled $19.6 million ($0.77 per diluted share), which included $24.2 million charges related to non-recurring and non-cash items. Excluding these non-recurring items and non-cash charges, adjusted net income attributable to controlling interest for 2009 was $43.8 million ($1.71 per diluted share) compared to net income of $1.19 per diluted share in 2008. The following table presents the reconciliation of non-GAAP measure to GAAP net income for full-year 2009 versus 2008.

                                                         2009           2008
    Net Income Attributable to
     Controlling Interest                           $19,646,781    $25,378,699
    Deduct:
     Other Income - Government Grant                ($1,172,560)            $0
     Gain on debt repurchase                        ($4,155,000)            $0
    Add back:
     Amortization associated with debt
      repurchase                                     $7,279,487             $0
     Loss on cross currency swap
      settlement                                     $9,000,000             $0
     Change in fair value of warrant                $13,214,525             $0
    Adjusted Net Income Attributable
     to Controlling Interest                        $43,813,233    $25,378,699
    Diluted EPS                                           $0.77          $1.19
    Deduct:
     Other Income - Government Grant                    ($0.050)         $0.00
     Gain on debt repurchase                            ($0.160)         $0.00
    Add back:
     Amortization associated with debt
      repurchase                                         $0.280          $0.00
     Loss on cross currency swap
      settlement                                         $0.350          $0.00
     Change in fair value of warrant                     $0.520          $0.00
    Adjusted Diluted EPS Attributable
     to Controlling Interest                              $1.71          $1.19

The table below presents the sales distribution and gross profit margin by each of our product line in 2009 versus 2008.

                                 Percent of Total
    Product Line                    Revenues              Gross Profit Margin
                              2009             2008         2009        2008
    Linear Motors and
    Related Systems           27.2%            41.0%        59.3%       54.0%
    Specialty Micro-Motors    18.6%            28.0%        39.2%       40.0%
    Rotary Motors             52.1%            23.0%        18.9%       10.7%
     Weihai                   32.4%            23.0%        11.2%       10.7%
     Xi'an                    19.7%             0.0%        31.6%        N/A
    Others                     2.1%             8.0%        48.4%       44.7%
    Total/Average            100.0%           100.0%        34.3%       39.3%

Overall gross profit margin declined to 34.3% in 2009 from 39.3% in 2008 due to changes in the product mix as sales of lower-margin industrial rotary motors expanded, in part as a result of the acquisition of Xi’an Simo. Operating profits in 2009 were $55.8 million compared to $34.4 million in 2008.

“We are extremely pleased to have delivered the best quarter and the best year in our Company’s history despite weak economic conditions early on,” said Mr. Tianfu Yang, Chairman and Chief Executive Officer of Harbin Electric. “2009 was also a year of great strategic, operational and financial accomplishments as we further strengthened our leadership position in the electric motor industry in China. The acquisition of Xi’an Simo, one of China’s leading electric motor companies, and its successful integration allowed us to start realizing synergies and provided a solid platform for continuous growth. Faster economic growth in the second half of the year fueled by the massive government stimulus program created a positive environment for our business. On the financial front, we raised additional equity capital which allowed us to repay a significant portion of our existing indebtedness, complete the acquisition of Xi’an Simo, and maintain a strong balance sheet as we continue to implement our growth strategy. We view these record results, accomplished with the hard work and dedication of our employees, as well as the continuous support of our shareholders, as a validation of our vision, strategic focus and relentless execution.”

Looking ahead, Mr. Yang commented, “We are ready to move the Company forward to a sustained profitability in 2010 supported by a solid platform that we have built over the past years as we expect continuous growth and leverage our strong financial position and promising portfolio of products. Although the first quarter is traditionally slower with the long Chinese new-year holiday, we do not expect this seasonality to impact our business significantly compared to the fourth quarter. We also expect that the Chinese government’s commitment to sustainable economic growth and the accelerated industrialization and urbanization of China will continue to drive our business and support our long term growth objectives. We look forward to a productive 2010 as we continue to capture the synergies of the Xi’an Simo acquisition, advance R&D and strengthen growth in all core businesses. We believe that 2010 will be another strong year for Harbin Electric and we remain committed to our strategies to achieve both our near and long term goals and maximize value for our shareholders.”

Conference Call Details

The Company will host a conference call to discuss its fourth quarter and full year 2009 financial results at 8:00 a.m. ET on Wednesday, March 10, 2010. Tianfu Yang, Chairman and Chief Executive Officer, Zedong Xu, Chief Financial Officer, and Christy Shue, Executive Vice President of the Company will be on the call.

To participate in the conference call, please dial any of the following numbers:

    USA:           1-800-603-1779
    International: 1-706-643-7429
    North China:   10-800-713-0924
    South China:   10-800-130-0748

    The conference ID for the call is 55950962.

A replay of the call will be available beginning at 9:00 a.m. ET on March 10, 2010 and will remain available through midnight on March 17th, 2010.

    To access the replay, please dial any of the following numbers:

    USA:           1-800-642-1687
    International: 1-706-645-9291

    Passcode is 55950962.

This conference call will be broadcast live over the Internet. To listen to the live webcast, please go to http://www.harbinelectric.com and click on “Harbin Electric Q4 and Full Year 2009 Financial Results Conference Call.” The replay of the webcast will be available for 30 days and will be archived on the Investor Kits page of the website after 30 days.

About Non-GAAP Financial Measures

The management of Harbin Electric uses non-GAAP adjusted net earnings to measure the performance of the Company’s business internally by excluding non-recurring items as well as special non-cash charges. The Company’s management believes that these non-GAAP adjusted financial measures allow the management to focus on managing business operating performance because these measures reflect the essential operating activities of Harbin Electric and provide a consistent method of comparison to historical periods. The Company believes that providing the non-GAAP measures that management uses internally to its investors is useful to investors for a number of reasons. The non-GAAP measures provide a consistent basis for investors to understand Harbin Electric’s financial performance in comparison to historical periods without variations caused by non-recurring items and non-operating related charges. In addition, it allows investors to evaluate the Company’s performance using the same methodology and information as that used by the management. Non-GAAP measures are subject to inherent limitations because they do not include all of the expenses included under GAAP and because they involve the exercise of judgment of which charges are excluded from GAAP financial measure. However, the management of Harbin Electric compensates for these limitations by providing the relevant disclosure of the items excluded.

About Harbin Electric, Inc.:

Harbin Electric, headquartered in Harbin, China, is a leading developer and manufacturer of a wide array of electric motors with a focus on innovative, customized and value-added products. Its major product lines include industrial rotary motors, linear motors, and specialty micro-motors. The Company’s products are purchased by a broad range of domestic and international customers, including those involved in energy industry, factory automation, food processing, packaging, transportation, automobile, medical devices, machinery and tool manufacturing, chemical, petrochemical, as well as in the metallurgical and mining industries. With a recent acquisition of industrial rotary motor business, the Company operates four manufacturing facilities in China located in Xi’an, Weihai, Harbin and Shanghai.

Harbin Electric has built a strong research and development capability by recruiting talent worldwide and through collaborations with top scientific institutions. The Company owns numerous patents in China and has developed award-winning products for its customers. Relying on its own proprietary technology, the Company developed an energy efficient linear motor driving oil pump, the first of its kind in the world, for the largest oil filed in China. Its self-developed linear motor propulsion system is powering China’s first domestically made linear motor driving metro train. As China continues to grow its industrial base, Harbin Electric aspires to be a leader in the industrialization and technology transformation of the Chinese manufacturing sector. To learn more about Harbin Electric, visit http://www.harbinelectric.com .

Safe Harbor Statement

The actual results of Harbin Electric, Inc. could differ materially from those described in this press release. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in the Company’s periodic filings with the U.S. Securities and Exchange Commission, including the factors described in the section entitled “Risk Factors” in its annual report on Form 10-K for the year ended December 31, 2008. The Company does not undertake any obligation to update forward-looking statements contained in the press release. This press release contains forward-looking information about the Company that is intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may, “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company’s future performance, operations and products.

    For investor and media inquiries, please contact:

    In China
     Harbin Electric, Inc.
     Tel:   +86-451-8611-6757
     Email: MainlandIR@Tech-full.com

    In the U.S.
     Christy Shue
     Harbin Electric, Inc.
     Executive VP, Finance & Investor Relations
     Tel:   +1-631-312-8612
     Email: cshue@HarbinElectric.com

     Kathy Li
     Christensen Investor Relations
     Tel:   +1-212-618-1987
     Email: kli@christensenir.com

                     HARBIN ELECTRIC, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                        AS OF DECEMBER 31, 2009 AND 2008
                                     ASSETS
                                              December 31,      December 31,
                                                  2009              2008

    CURRENT ASSETS:
        Cash and cash equivalents              $92,902,400       $48,412,263
        Restricted cash                          3,522,009           513,450
        Notes receivable                         1,086,929         1,451,977
        Accounts receivable, net                93,322,885        30,284,080
        Inventories                             74,913,877        21,960,084
        Other receivables & prepaid
         expenses                                5,828,453           248,552
        Advances on inventory purchases         11,718,544         3,529,607
          Total current assets                 283,295,097       106,400,013

    PLANT AND EQUIPMENT, net                   156,364,548        94,931,999

    OTHER ASSETS:
        Debt issuance costs, net                   359,255         1,672,279
        Advances on equipment purchases         10,532,902        10,416,187
        Advances on intangible assets            3,133,512         1,892,430
        Goodwill                                61,300,241        12,273,778
        Other intangible assets, net of
         accumulated amortization               14,245,984         6,430,397
        Other assets                             1,722,693           471,220
        Deposit in derivative hedge                     --         1,000,000
          Total other assets                    91,294,587        34,156,291

            Total assets                      $530,954,232      $235,488,303

                     LIABILITIES AND SHAREHOLDERS' EQUITY

    CURRENT LIABILITIES:
        Notes payable - short term              $4,533,268         1,026,900
        Accounts payable                        47,102,564         8,415,919
        Short term loan - bank                  38,291,634         4,180,950
        Short term loan - officers                 918,342                --
        Short term loan - others                 5,229,653                --
        Other payables                           8,912,586           875,395
        Accrued liabilities                      3,292,999         1,914,397
        Customer deposits                       18,455,842         1,244,622
        Taxes payable                            8,230,512         2,096,521
        Interest payable                           123,730           800,954
        Cross currency hedge payable                    --           175,986
        Current portion of notes payable,
         net                                     7,660,210         1,979,871
          Total current liabilities            142,751,340        22,711,515

    LONG TERM LIABILITIES:
        Amounts due to original
         shareholder                            28,681,976           733,500
        Long term loan - bank                    4,401,000                --
        Notes payable - long term, net                  --        31,630,995
        Fair value of derivative
         instrument                                     --         5,762,958
        Warrant liability                        4,623,558                --

            Total liabilities                  180,457,874        60,838,968

    COMMITMENTS AND CONTINGENCIES

    SHAREHOLDERS' EQUITY:
        Common Stock, $0.00001 par value,
         100,000,000 shares authorized,
         31,067,471 and 22,102,078
         shares issued and outstanding
         as of December 31, 2009 and
         2008, respectively                            310               220
        Paid-in-capital                        218,094,374        95,029,290
        Retained earnings                       69,594,113        52,100,479
        Statutory reserves                      22,869,423        14,573,994
        Accumulated other comprehensive
         income                                 18,638,297        12,945,352
          Total shareholders' equity           329,196,517       174,649,335

    NONCONTROLLING INTERESTS                    21,299,841                --

            Total liabilities and
             shareholders' equity             $530,954,232      $235,488,303

                      HARBIN ELECTRIC, INC. AND SUBSIDIARIES
         CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
               FOR THE YEARS ENDED DECEMBER 31, 2009, 2008 AND 2007

                                           For the Years ended December 31,
                                            2009         2008         2007

    REVENUES                            $223,234,394 $120,820,302 $65,402,864

    COST OF SALES                        146,622,220   73,343,521  32,967,887

    GROSS PROFIT                          76,612,174   47,476,781  32,434,977

    RESEARCH AND DEVELOPMENT EXPENSE       2,093,366    1,170,169   1,064,074

    SELLING, GENERAL AND  ADMINISTRATIVE
     EXPENSES                             18,671,507   11,913,435   7,659,611

    INCOME FROM OPERATIONS                55,847,301   34,393,177  23,711,292

    OTHER EXPENSE (INCOME), NET
        Other (income) expenses, net      (5,462,148)  (1,575,224)    188,654
        Interest expense, net             12,315,645    6,065,814   6,619,954
        Loss on cross currency hedge
         settlement                        9,000,000           --          --
        Gain on debt repurchase           (4,155,000)          --          --
        Change in fair value of warrant   13,214,525           --          --
            Total other expense, net      24,913,022    4,490,590   6,808,608

    INCOME BEFORE PROVISION FOR INCOME
     TAXES                                30,934,279   29,902,587  16,902,684

    PROVISION FOR INCOME TAXES             7,796,084    4,523,888          --

    NET INCOME BEFORE NONCONTROLLING
     INTEREST                             23,138,195   25,378,699  16,902,684

    LESS: NET INCOME ATTRIBUTABLE TO
     NONCONTROLLING INTEREST               3,491,414           --          --

    NET INCOME ATTRIBUTABLE TO
     CONTROLLING INTEREST                $19,646,781  $25,378,699 $16,902,684

    EARNINGS PER SHARE
        Basic
            Weighted average number of
             shares                       25,568,936   20,235,877  17,082,300
            Earnings per share before
             noncontrolling interest           $0.90        $1.25       $0.99
            Earnings per share
             attributable to controlling
             interest                          $0.77           --          --
            Earnings per share
             attributable to
             noncontrolling interest           $0.14           --          --

        Diluted
            Weighted average number of
             shares                       25,672,420   21,323,660  18,634,739
            Earnings per share before
             noncontrolling interest           $0.90        $1.19       $0.91
            Earnings per share
             attributable to controlling
             interest                          $0.77           --          --
            Earnings per share
             attributable to
             noncontrolling interest           $0.13           --          --

                      HARBIN ELECTRIC, INC. AND SUBSIDIARIES
         CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
              FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

                                                    2009             2008

    REVENUES                                   $107,213,986       $34,743,375

    COST OF SALES                                71,150,100        23,254,173

    GROSS PROFIT                                 36,063,886        11,489,202

    RESEARCH AND DEVELOPMENT EXPENSE                823,255           755,438

    SELLING, GENERAL AND  ADMINISTRATIVE
     EXPENSES                                     9,278,386         3,720,236

    INCOME FROM OPERATIONS                       25,962,245         7,013,528

    OTHER EXPENSE (INCOME), NET
        Other (income) expenses, net             (1,759,234)         (620,042)
        Interest expense, net                     1,553,417           529,760
        Loss on cross currency hedge
         settlement                                      --                --
        Gain on debt repurchase                          --                --
        Change in fair value of warrant           1,036,610                --
            Total other expense (income),
             net                                    830,793           (90,282)

    INCOME BEFORE PROVISION FOR INCOME
     TAXES                                       25,131,452         7,103,810

    PROVISION FOR INCOME TAXES                    3,320,263         1,062,958

    NET INCOME BEFORE NONCONTROLLING
     INTEREST                                    21,811,189         6,040,852

    LESS: NET INCOME ATTRIBUTABLE TO
     NONCONTROLLING INTEREST                      3,491,414                --

    NET INCOME ATTRIBUTABLE TO
     CONTROLLING INTEREST                       $18,319,775        $6,040,852

    EARNINGS PER SHARE
        Basic                                         $0.59             $0.28
        Diluted                                       $0.59             $0.27

Oculus Innovative Sciences (OCLS) Receives First FDA Clearance for Microcyn(R)-Based HydroGel

Mar. 10, 2010 (Business Wire) — Oculus Innovative Sciences, Inc. (Nasdaq: OCLS), a commercial medical technology company that develops, manufactures and markets a family of products based upon the Microcyn^® Technology platform, today announced that it has received new 510(k) clearance from the U.S. Food and Drug Administration (FDA) for new dermatology indications for Microcyn^® Skin and Wound HydroGel. The Rx product, under the supervision of a healthcare professional, Microcyn Skin and Wound HydroGel is intended for management of wounds including itch and pain relief associated with dermal irritation, sores, injuries and ulcers of dermal tissue.

Microcyn-based products, branded as Microcyn Skin and Wound Care and Microcyn Skin & Wound HydroGel in the United States, Microdacyn60™ in Mexico, Dermacyn™ Wound Care in Europe and China and Oxum in India, have treated over two million patients worldwide without a single report of a serious adverse effect.

Noridian Administrative Services LLC, which is the pricing, data analysis and coding contractor for the Medicare program, has assigned Medicare HCPCS code #A6248 to the Microcyn HydroGel.

“We are especially excited to receive our first FDA clearance for the Microcyn HydroGel for dermatology indications including the reduction of itch and pain relief for troublesome skin afflictions,” said Hoji Alimi, founder and CEO of Oculus.

Microcyn HydroGel for dermatology indications will be commercially available in April 2010. Oculus is partnering with a series of independent sales groups in key metropolitan regions with a combined thirty-six person commissioned-based sales team experienced in dermatology, which will focus on the dermatology market including cosmetic and plastic surgeons, pediatricians, aesthetic clinics and dermatologists. For more information, pricing or pre-ordering, please telephone 1-800-931-3205.

According to a report from Business Insights, in terms of size, the United States market dominates the global dermatology market, responsible for some 41.2% of sales or $4.6 billion in 2005.

About Oculus Innovative Sciences

Oculus Innovative Sciences is a commercial medical technology company that designs, produces and markets safe and effective tissue care products based upon the Microcyn^® Technology platform, which significantly reduces the need for antibiotics while reducing infections and accelerating healing. The Microcyn Technology addresses the need for improved solutions in multiple markets including dermatology, oral care, cosmeceutical, wound care and others. It features a biocompatible, shelf-stable solution that is currently commercialized in the United States, Europe, India, China and Mexico and select Middle East countries under various country specific regulatory clearances and approvals. Several solutions derived from this platform have demonstrated, in a variety of research and investigational studies, the ability to treat a wide range of pathogens, including antibiotic-resistant strains of bacteria (including MRSA and VRE), viruses, fungi and spores, increase blood flow to the wound site, and reduce both inflammation and pain while assisting in faster wound closure. The company’s headquarters are in Petaluma, California, with operations in Latin America. More information can be found at www.oculusis.com.

Forward-Looking Statements

Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements about the Company’s commercial and technology progress and future financial performance. These forward-looking statements are identified by the use of words such as “intended” and “will be,” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks that regulatory clinical and guideline developments may change, scientific data may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company may not meet its future capital needs, and its ability to obtain additional funding, as well as uncertainties relative to varying product formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including the annual report on Form 10-K for the year ended March 31, 2009. Oculus Innovative Sciences disclaims any obligation to update these forward-looking statements except as required by law.

Oculus Innovative Sciences, Microcyn, Dermacyn and Vetericyn are trademarks or registered trademarks of Oculus Innovative Sciences, Inc. All other trademarks and service marks are the property of their respective owners.

FDA Advisory Committee Recommends Approval of InterMune’s (ITMN) Esbriet(R) (pirfenidone)

BRISBANE, Calif., March 9 /PRNewswire-FirstCall/ — InterMune, Inc. (Nasdaq: ITMN) announced today that the U.S. Food and Drug Administration’s (FDA) Pulmonary-Allergy Drugs Advisory Committee (PADAC) voted 9-3 to recommend approval of Esbriet® (pirfenidone) for the treatment of patients with idiopathic pulmonary fibrosis (IPF) to reduce decline in lung function.

IPF is a rare and fatal lung disease that affects approximately 200,000 people in the United States and Europe. If approved by the FDA for commercialization, Esbriet would be the first medication to be made available to IPF patients in the United States.

“We are pleased with the outcome of today’s Advisory Committee meeting,” said Dan Welch, Chairman, Chief Executive Officer and President of InterMune. “We look forward to working closely with the FDA as review of the Esbriet NDA continues.”

Though the Advisory Committee’s recommendations are not binding, they will be considered as the FDA completes its review of the New Drug Application (NDA) for Esbriet. Esbriet received Orphan Drug, Fast Track and Priority Review designations by the FDA. Priority Review designation may be granted by the FDA to an NDA for drugs that have the potential to offer major advances in treatment, or provide a treatment where no adequate therapy exists. A target date of May 4, 2010 has been set under the Prescription Drug User Fee Act (PDUFA).

Status of Esbriet (pirfenidone) in Europe

On March 2, 2010, InterMune announced that it had submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA), seeking approval to market Esbriet for the treatment of IPF patients in the European Union. Esbriet (pirfenidone) has been granted Orphan Drug status in Europe.

Conference Call and Webcast Details

InterMune will host a conference call today at 5:00 p.m. EST to discuss Esbriet. Interested investors and others may participate in the conference call by dialing 888-799-0528 (U.S.) or 973-200-3372 (international), conference ID# 61659499. A replay of the webcast and teleconference will be available approximately three hours after the call.

To access the webcast, please log on to the company’s website at www.intermune.com at least 15 minutes prior to the start of the call to ensure adequate time for any software downloads that may be required.

The teleconference replay will be available for 10 business days following the call and can be accessed by dialing 800-642-1687 (U.S.) or 706-645-9291 (international), and entering the conference ID# 61659499.

About Esbriet (pirfenidone)

Preclinical and in-vitro evidence has shown that Esbriet has both anti-fibrotic and anti-inflammatory effects. In February 2009, InterMune announced the results of the company’s two global Phase 3 clinical trials evaluating Esbriet for the treatment of IPF, known as the CAPACITY trials. Prior to the CAPACITY results, data had previously been presented from another Phase 3 study and three Phase 2 clinical trials in more than 400 patients which suggested that Esbriet may positively affect lung function and disease progression in patients with IPF. In those clinical studies, Esbriet was safe and generally well tolerated, with the most frequent side effects reported being photosensitivity rash and gastrointestinal symptoms. In October of 2008, pirfenidone was approved for use in IPF patients in Japan and is marketed as Pirespa® by Shionogi & Co. Ltd. in that country.

About IPF

Idiopathic pulmonary fibrosis (IPF) is a progressive, debilitating and ultimately fatal disease that affects approximately 200,000 people in Europe and the United States combined, with approximately 30,000 new cases reported per year in each region.

IPF is characterized by inflammation and scarring (fibrosis) in the lungs, hindering the ability to process oxygen and causing shortness of breath (dyspnea) and cough and is a progressive disease, meaning that over time, lung scarring and symptoms increase in severity. The median survival time from diagnosis is two to five years, with a five-year survival rate of approximately 20%. Patients diagnosed with IPF are usually between the ages of 40 and 70, with a median age of 63 years and the disease tends to affect slightly more men than women. There are no medicines approved in Europe and the United States for the treatment of IPF.

About InterMune

InterMune is a biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and hepatology. InterMune has an R&D portfolio addressing idiopathic pulmonary fibrosis (IPF) and hepatitis C virus (HCV) infections. The pulmonology portfolio includes Esbriet® (pirfenidone) for which InterMune has completed a Phase 3 program in patients with IPF (CAPACITY) and a New Drug Application (NDA) has been accepted for Priority Review by the FDA and a Marketing Authorization Application (MAA) has been submitted to the European Medicines Agency (EMA). The hepatology portfolio includes the HCV protease inhibitor compound RG7227 (ITMN-191) that entered Phase 2b in August 2009 and a second-generation HCV protease inhibitor research program. For additional information about InterMune and its R&D pipeline, please visit www.intermune.com

.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended, which reflect InterMune’s judgment and involve risks and uncertainties as of the date of this release, including without limitation the statements related to anticipated regulatory timelines and the likelihood of regulatory success. All forward-looking statements and other information included in this press release are based on information available to InterMune as of the date hereof, and InterMune assumes no obligation to update any such forward-looking statements or information. InterMune’s actual results could differ materially from those described in InterMune’s forward-looking statements. Pirfenidone failed to achieve statistical significance on the primary endpoint in one of its two pivotal clinical trials and there can be no assurance that the regulatory authorities in either the United States or Europe will grant regulatory approval based upon these data, in combination with the other efficacy analyses and safety results the company has submitted in support of its NDA and MAA filings. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in detail under the heading “Risk Factors” in InterMune’s most recent annual report on Form 10-K filed with the SEC on March 16, 2009 (the “Form 10-K”), those additional risks and uncertainties relating InterMune and its business found in the risk factors attached as Exhibit 99.3 to InterMune’s Form 8-K filed with the SEC on January 20, 2010, and in the Prospectus Supplement filed with the SEC on January 21, 2010, and other periodic reports filed with the SEC, including the following: (i) risks related to the long, expensive and uncertain clinical development and regulatory process, including having no unexpected safety, toxicology, clinical or other issues or delays in anticipated timing of the regulatory approval process; (ii) risks related to failure to achieve the clinical trial results required to commercialize our product candidates; and (iii) risks related to timely patient enrollment and retention in clinical trials. The risks and other factors discussed above should be considered only in connection with the fully discussed risks and other factors discussed in detail in the Form 10-K, the Form 8-K, the Prospectus Supplement and InterMune’s other periodic reports filed with the SEC. InterMune undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in InterMune’s expectations.

Abbott Enhances Pharmaceutical Pipeline with Acquisition of Facet Biotech (FACT)

ABBOTT PARK, Illinois and REDWOOD CITY, California, March 9, 2010 /PRNewswire/ —

– Provides Promising Biologic Intended to Treat Multiple Sclerosis and Compounds that Complement Abbott’s Existing Diverse Oncology Program

Abbott (NYSE: ABT) and Facet Biotech Corporation (Nasdaq: FACT) announced today a definitive agreement for Abbott to acquire Facet, enhancing Abbott’s early- and mid-stage pharmaceutical pipeline. Abbott will acquire Facet for US$27 per share in cash for a net transaction value of approximately US$450 million, which includes a purchase price of approximately US$722 million less Facet’s projected cash and marketable securities at closing of approximately US$272 million.

The acquisition brings access to biologics in two key therapeutic areas, immunology and oncology. The compounds include daclizumab – a Phase II investigational biologic intended to treat multiple sclerosis (MS) that is expected to move into Phase III development in the second quarter 2010 – and oncology compounds in early- to mid-stage development. Daclizumab is being developed in collaboration with Biogen Idec and certain oncology compounds are being developed in collaboration with other parties.

“This acquisition will further strengthen Abbott’s biologics capabilities and pharmaceutical pipeline,” said John Leonard, M.D., senior vice president, global pharmaceutical research and development, Abbott. “Daclizumab is a promising treatment for multiple sclerosis, a disease that has a significant unmet medical need, and has the potential to become an important treatment option for patients. We continue to explore multiple mechanisms to treat autoimmune diseases and cancer with both biologic and small molecule approaches.”

“We believe this transaction provides full and fair value for our stockholders and validates the potential of Facet’s clinical and technology assets, all of which has resulted from the effort and dedication of our employees,” said Faheem Hasnain, president and chief executive officer, Facet Biotech. “Abbott’s depth of expertise in immunology and oncology makes it an excellent organization to maximize the full potential of these promising clinical programs and technologies.”

Multiple sclerosis is an inflammatory disease of the central nervous system affecting more than 1 million people worldwide, and is characterized by lesions in the brain and spinal cord. Daclizumab is a humanized antibody that binds to the high affinity IL-2 receptor and selectively inhibits this receptor on activated T cells. Studies to date have shown that daclizumab may reduce the inflammatory lesions associated with MS and has the potential to offer enhanced efficacy over many existing MS therapies along with a favorable safety profile.

Facet’s oncology collaborations include early- and mid-stage compounds that are being studied to treat different types of cancer, including multiple myeloma and chronic lymphocytic leukemia.

These novel compounds in development complement Abbott’s leading-edge research in oncology, which includes three compounds in mid- to late-stage trials: ABT-263, a Bcl-2 family protein antagonist; ABT-888, a PARP inhibitor; and ABT-869, a multi-targeted kinase inhibitor.

Abbott is also advancing treatments for conditions such as Alzheimer’s disease, schizophrenia, hepatitis C and pain.

Under the terms of the agreement, Abbott will promptly commence a tender offer to purchase all outstanding shares of Facet Biotech at US$27 per share. The closing of the tender offer is conditioned on the tender of a majority of the outstanding shares of Facet’s common stock on a fully diluted basis and the satisfaction of regulatory and other customary conditions. The transaction has been approved on behalf of the boards of directors of Facet and Abbott. Approval of the transaction by Abbott’s shareholders is not required.

The transaction is expected to close in the second quarter of 2010. Abbott would expect to incur one-time specified charges following the closing of the acquisition, which will be defined at a later date. This transaction does not impact Abbott’s previously issued ongoing earnings-per-share guidance for 2010.

Centerview Partners served as financial advisor to Facet Biotech and rendered a fairness opinion to Facet Biotech’s board of directors in connection with the transaction.

About Facet Biotech

Facet Biotech is a biotechnology company dedicated to advancing its pipeline of five clinical-stage products focused in multiple sclerosis and oncology, leveraging its research and development capabilities to identify and develop new oncology drugs and applying its proprietary next-generation protein engineering technologies to potentially improve the clinical performance of protein therapeutics. Facet Biotech has development collaborations with Biogen Idec, Bristol-Myers Squibb Company and Trubion Pharmaceuticals. For additional information about the company, please visit www.facetbiotech.com.

About Abbott

Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs approximately 83,000 people and markets its products in more than 130 countries.

Abbott’s news releases and other information are available on the company’s Web site at www.abbott.com.

Additional Information

The tender offer for shares of Facet Biotech Corporation described in this press release has not yet commenced. This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. At the time the tender offer is commenced, Abbott will file a tender offer statement (including an offer to purchase, letter of transmittal and related tender offer documents) with the U.S. Securities and Exchange Commission (SEC) and Facet Biotech will file with the SEC a solicitation/recommendation statement with respect to the offer. Stockholders of Facet Biotech are strongly advised to read the tender offer statement and the related solicitation/recommendation statement, because they will contain important information that stockholders should consider before making any decision regarding tendering their shares. The tender offer statement and certain other offer documents, as well as the solicitation/recommendation statement, will be made available to all stockholders of Facet Biotech at no expense to them. These documents will be available at no charge on the SEC’s web site at http://www.sec.gov.

Facet Biotech Forward Looking Statement

This press release contains forward-looking statements of Facet Biotech that are not historical facts. These forward-looking statements may be identified by words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “could,” “should,” “may,” “will,” “would,” “continue,” “forecast,” and other similar expressions. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Various factors may cause differences between current expectations and actual results. The factors include risks and uncertainties associated with the tender offer, including uncertainties as to the timing of the tender offer and merger, uncertainties as to how many of Facet Biotech’s stockholders will tender their shares in the offer, the risk that competing offers will be made, and the possibility that various closing conditions for the transaction may not be satisfied or waived. Other factors that may cause Facet Biotech’s actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are discussed in Facet Biotech’s filings with the Securities and Exchange Commission (SEC), including the “Risk Factors” sections of the Company’s periodic reports on Form 10-K and Form 10-Q filed with the SEC. Copies of Facet Biotech’s filings with the SEC may be obtained at the “Investor” section of Facet Biotech’s website at www.facetbiotech.com. Facet Biotech expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Facet Biotech’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based for any reason, except as required by law, even as new information becomes available or other events occur in the future. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.

Abbott Forward Looking Statement

Some statements in this news release, including statements regarding the anticipated closing of the above transaction and the effect on Abbott’s financial performance, may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Among other things, these factors include the risk that the acquisition will not be completed because the tender offer did not proceed as anticipated or closing conditions to the acquisition were not satisfied. Economic, competitive, governmental, technological and other factors that may affect Abbott’s operations are discussed in Item 1A, “Risk Factors,” to Abbott’s Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2009, and are incorporated by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments. To the extent that Abbott’s statements refer to the prospects of Facet Biotech’s business, such statements are qualified by Facet Biotech’s forward looking statement language appearing above.

Reed’s Inc. (REED) and Jones Soda Co. (JSDA) Enter Into Letter of Intent Regarding Potential Merger

Mar. 9, 2010 (Business Wire) — Reed’s, Inc. (NASDAQ:REED), maker of top-selling sodas in natural food stores nationwide, and Jones Soda Co. (NASDAQ: JSDA), a leader in the premium soda category and known for its unique branding and innovative marketing, announced today that the two companies have entered into a Letter of Intent (LOI) regarding a merger, with Reed’s as the surviving company. The combination would unite a number of leading premium soda brands, such as Reed’s Ginger Brew, Virgil’s, and Jones Soda. The proposed merger would also provide the two companies with the opportunity to realize the potential benefits of increased size and scale, as well as cost efficiencies in several aspects of the combined business, including administration, operations, and customer interface. The strength of the Reed’s portfolio in the direct selling channel combined with Jones Soda’s strong national distributor structure allows for future growth opportunities for each company’s brands across these channels.

The non-binding provisions of the LOI contemplate a merger transaction in which Reed’s would acquire Jones Soda for a combination of cash and Reed’s common stock. The shareholders of Jones Soda would receive an aggregate of 4.5 million shares of Reed’s common stock (or approximately 0.17 of a share of Reed’s common stock per share of Jones Soda common stock based on current Jones Soda shares outstanding) and cash of $0.10 per share of Jones Soda common stock (or an aggregate of approximately $2.56 million based on current shares outstanding). There is no financing contingency as Reed’s would use its best efforts to secure the cash portion of the consideration, and if it is unable to secure all or part of this cash, any deficit would instead be paid in additional shares of Reed’s common stock, with the aggregate number of shares equal to the amount of the cash deficit divided by $1.70.

Mr. Chris Reed, Founder, Chairman and CEO of Reed’s stated, “We have watched Jones for years and have been impressed with its innovative marketing programs, strong brand recognition, and loyal customer following. I am confident that our portfolio of brands will benefit from Jones Soda’s marketing savvy as well as its organization’s deep mainstream distribution relationships. At the same time, we believe our strong infrastructure and operational capabilities will help drive important efficiencies through Jones Soda’s supply chain. With minimal customer and demographic overlap between our combined brands, we believe this transaction also provides us with compelling merchandising and growth opportunities in the years ahead.”

Jones Soda retained North Point Advisors in February 2009 to assist in evaluating the company’s strategic alternatives. Since that time, Jones has reviewed a broad range of strategic alternatives to enhance shareholder value.

Rick Eiswirth, Chairman of the Board of Jones Soda Co., stated, “Over the past year we have taken numerous steps to reduce our expenses and reinvigorate our top line in order to return to profitability. Unfortunately, the challenging economic environment combined with our current capitalization has made it extremely difficult to operate on a standalone basis. After evaluating a range of strategies aimed at improving our outlook, our Board of Directors determined that the proposed merger with Reed’s offers our shareholders the most compelling long-term benefits of the available alternatives. We believe the combination of Jones and Reed’s will create a substantially larger beverage business with a more powerful operating platform and a brighter future. We are especially pleased that the Jones shareholders will be able to participate in the potential upside of the combined business, as a meaningful portion of the consideration is in the form of Reed’s stock.”

Jones Soda also announced that Joth Ricci will be stepping down as Chief Executive Officer effective April 2, 2010 in order to pursue other business opportunities. Joth Ricci commented, “I have truly enjoyed my time at Jones Soda and I’m pleased with the work our team has done to improve many aspects of our business. Unfortunately, due to the current market conditions, it has taken longer than anticipated to produce the necessary top line results to effectively return to profitability and stem our cash burn. However, I remain confident in the strength of the Jones Soda brand and believe the proposed merger with Reed’s provides Jones Soda an improved platform from which to capitalize on its future prospects and is in the best interests of its shareholders.”

Under the binding provisions of the LOI, Reed’s and Jones Soda have until April 5, 2010 to negotiate a definitive agreement on an exclusive basis. If Jones Soda receives an unsolicited acquisition, financing or other strategic transaction proposal that the Board of Directors of Jones Soda determines is superior to the proposed merger transaction with Reed’s, then Jones Soda may terminate the LOI and reimburse Reed’s for its third party out-of-pocket expenses (not to exceed $75,000).

Since the transaction terms of the LOI are non-binding, they are subject to the negotiation, execution and delivery of a definitive agreement approved by the respective Boards of Directors of each company. Accordingly, the proposed terms of the transaction are subject to change, and there can be no assurance that Reed’s and Jones Soda will enter into a definitive agreement on the terms outlined above, if at all, or that any transaction between the parties will ultimately be consummated. The companies do not intend to disclose developments with respect to negotiation of the definitive agreement until their respective Boards of Directors deem it appropriate.

The transaction would also be subject to approval of the shareholders of both Jones Soda and Reed’s.

About Reed’s, Inc.

Reed’s, Inc. makes top selling sodas in natural food markets nationwide and is currently selling in 10,500 supermarkets in natural foods and mainstream. Its six award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks.

In addition, the Company owns a top selling root beer line in natural foods, the Virgil’s Root Beer product line, and a top selling cola line in natural foods, the China Cola product line. Recently, Reed’s added the Sonoma Sparkler brands to its line, a celebration drink with an established customer base. Other product lines include: Reed’s Ginger Candies and Reed’s Ginger Ice Creams.

Reed’s products are sold through specialty gourmet and natural food stores, mainstream supermarket chains, retail stores and restaurants nationwide, and in Canada. For more information about Reed’s, please visit the company’s website at: http://www.reedsgingerbrew.com or call 800-99-REEDS.

Follow Reed’s on Twitter at: http://www.twitter.com/reedsgingerbrew

Reed’s Facebook Fan Page at: http://www.facebook.com/pages/Reeds-Ginger-Brew-and-Virgils-Natural-Sodas/57143529039?ref=nf

Subscribe to Reed’s RSS feed at: http://www.irthcommunications.com/REED_rss.xml

More information can be found at: http://www.irthcommunications.com/clients_REED.php

About Jones Soda Co.

Headquartered in Seattle, Washington, Jones Soda Co. ^® markets and distributes premium beverages under the Jones Soda, Jones Pure Cane Soda™, Jones 24C™, Jones GABA^®, Jones Organics™, Jones Naturals^® and Whoopass Energy Drink^® brands and sells through its distribution network in markets primarily across North America. A leader in the premium soda category, Jones is known for its variety of flavors and innovative labeling technique that incorporates always-changing photos sent in from its consumers. Jones Soda is sold through traditional beverage retailers. For more information visit www.jonessoda.com, www.myjones.com, and www.jonesGABA.com.

Additional Information and Where to Find It

If Reed’s and Jones enter into a definitive agreement relating to the proposed merger, Reed’s plans to file with the SEC a Registration Statement on Form S 4 in connection with the transaction, and Jones Soda plans to file with the SEC and mail to its shareholders a Proxy Statement/Prospectus in connection with the transaction. The Registration Statement and the Proxy Statement/Prospectus will contain important information about Reed’s, Jones Soda, the transaction and related matters. Investors and shareholders are urged to read the Registration Statement and the Proxy Statement/Prospectus carefully when they are available. Investors and shareholders will be able to obtain free copies of the Registration Statement and the Proxy Statement/Prospectus and other documents filed with the SEC by Reed’s and Jones Soda through the web site maintained by the SEC at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the Registration Statement and the Proxy Statement/Prospectus from Reed’s by contacting Andrew W. Haag at IRTH Communications at (866) 976-4784, or from Jones Soda by contacting Michael O’Brien at (206)-624-3357.

Reed’s and its directors and executive officers, and Jones Soda and its directors and officers, may be deemed to be participants in the solicitation of proxies from the shareholders of Jones Soda in connection with the transaction described herein. Information regarding the special interests of these directors and executive officers in the transaction described herein will be included in the Proxy Statement/Prospectus described above. Additional information regarding the directors and executive officers of Jones Soda is also included in Jones Soda’s annual report on Form 10-K filed with the SEC on March 16, 2009. Additional information regarding the directors and executive officers of Reed’s is also included in Reed’s annual report on Form 10-K filed with the SEC on March 27, 2009, as amended.

Forward-Looking Statements Disclosure

Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the potential future benefits of the proposed merger, including growth opportunities for each company’s brands, the combined company’s ability to realize cost efficiencies, and the ability of Reed’s infrastructure and operational capabilities to drive efficiencies through Jones Soda’s supply chain. Forward-looking statements include all passages containing words such as “aims,” “anticipates,” “becoming,” “believes,” “continue,” “estimates,” “expects,” “future,” “intends,” “plans,” “predicts,” “projects,” “targets,” or “upcoming,” variations of such words, and similar expressions. Forward-looking statements also include any other passages that are primarily relevant to expected future events or that can only be evaluated by events that will occur in the future. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. The risks and uncertainties that may affect forward-looking statements include, among others, the inability of the parties to reach a definitive agreement on the terms outlined in this press release, if all, or to consummate the transaction for any reason, including as a result of the failure to satisfy any condition to closing set forth in the definitive agreement; the inability of the combined business to achieve levels of revenue and cost reductions that are adequate to support its capital and operating requirements, or to generate sufficient cash flow from operations, or to obtain funds through additional financing, to support its business plan; the impact of current and any future adverse economic conditions; the inability of the combined business to establish distribution arrangements with distributors, retailers or national retail accounts, or to maintain relationships with its co-packers or third party brewers, or to maintain a consistent and cost-effective supply of raw materials, or to maintain brand image and product quality, or to protect its intellectual property; the impact of increasing costs of fuel and freight; the impact of competition; and other factors detailed from time to time in Jones Soda’s and Reed’s most recent annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. You should not place undue reliance upon any such forward-looking statements, which are based on management’s beliefs and opinions at the time the statements are made, and neither Jones Soda nor Reed’s undertakes any obligations to update forward-looking statements should circumstances or management’s beliefs or opinions change.

RFM (RFMI) Secures Multi-Year Agreement with a Major Medical Equipment Manufacturer

Mar. 9, 2010 (Business Wire) — RF Monolithics, Inc. (NASDAQ: RFMI) (“RFM”) a leader in machine-to-machine (M2M) wireless communications announced today that it has secured a multi-year agreement with a major medical equipment manufacturer for its ultra-low power short-range radio, the Virtual Wire™ transceiver. The product has taken several years to attain various levels of qualification and is now in volume production. The agreement sets forth the customer’s intent to continue use of this product, in volume, for the next 5 years. The terms of this supply agreement, including the name of the customer, are covered under a confidentiality agreement.

“RFM’s ultra-low power short-range radio, Virtual Wire™, has been designed into various medical devices in recent years. This business, along with our custom modules, specific to medical applications, has driven this market segment to as much as 24% of our total business in recent quarters. There are multiple applications for RFM’s enabling products ranging from diagnostic communication devices to patient monitoring equipment. These applications give us a solid footprint into a rapidly growing wireless market for years to come. We continue to seek additional innovative opportunities as M2M standards emerge in the medical market,” said David M. Kirk, President and CEO of RFM.

These wireless systems, meet Federal Communications Commission (FCC) and Medical Implant Communications Services (MICS) guidelines. The ultra-low power Virtual Wire™ transceiver is an enabling technology. Other medical industry standards, such as the Continua Health Alliance standards and the Wireless Medical Telemetry Standard (WMTS), are also opportunities for RFM’s broad product portfolio.

About RFM

RF Monolithics, Inc., headquartered in Dallas, Texas, is a provider of solutions-driven, technology-enabled wireless connectivity for a broad range of wireless applications—from individual standardized and custom components to modules for comprehensive industrial wireless sensor networks and machine-to-machine (M2M) technology. For more information on RF Monolithics, Inc., please visit the Company’s website at http://www.RFM.com.

About MICS

Medical Implant Communications Service (MICS) is an ultra-low power, unlicensed, mobile radio service for transmitting data in support of diagnostic or therapeutic functions associated with implanted medical devices. The MICS permits individuals and medical practitioners to utilize ultra-low power medical implant devices, such as cardiac pacemakers and defibrillators, without causing interference to other users of the electromagnetic radio spectrum. MICS transmitters may not operate with an effective isotropic radiated power (EIRP) greater than 25 microwatts. MICS transmitter emissions are limited to an authorized bandwidth of 300 kHz and must maintain a frequency stability of +/-100 ppm of the operating frequency. Operations rules and technical regulations applicable to MICS transmitters are found within 47 CFR 95.601-95.673 Subpart E.

About WMTS

The wireless medical telemetry standard (WMTS) was officially adopted by the Federal Communications Commission (FCC) on June 8, 2000. The service rules for the equipment and use of the WMTS include limitations on transmitter output power, out of band emissions, and protection of other services. WMTS designated frequency ranges are 608 to 614 MHz; 1395 to 1400 MHz; and 1429 to 1432 MHz. WMTS generally is the remote monitoring of a patient’s health through radio technology. The use of wireless medical telemetry gives patients greater mobility and increased comfort by freeing them from the need to be connected to hospital equipment that would otherwise be required to monitor their condition. Wireless medical telemetry also serves the goal of reducing health care costs because it permits the remote monitoring of several patients simultaneously. All types of communications except voice and video are permitted on both a bi-directional and unidirectional basis, provided that all communications are related to the provision of medical care.

About Continua

Continua Health Alliance is a non-profit, open industry coalition of health care and technology companies joining together in collaboration to improve the quality of personal health care. With more than 220 member companies around the world, Continua is dedicated to establishing a system of interoperable personal health solutions with the knowledge that extending those solutions into the home fosters independence, empowers individuals and provides the opportunity for personalized health and wellness management.

Forward-Looking Statements

This news release contains forward-looking statements, made pursuant to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Statements of the plans, objectives, expectations and intentions of RFM and/or its wholly-owned subsidiaries (collectively, the “Company” or “we”) involve risks and uncertainties. Statements containing terms such as “believe,” “expect,” “plan,” “anticipate,” “may” or similar terms are considered to contain uncertainty and are forward-looking statements. Such statements are based on information available to management as of the time of such statements and relate to, among other things, expectations of the business environment in which we operate, projections of future performance, perceived opportunities in the market and statements regarding our mission and vision, future financial and operating results. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, including risks related to economic conditions as related to our customer base, collection of receivables from customers who may be affected by economic conditions, maintaining favorable terms of sales with customers and suppliers, the highly competitive market in which we operate, rapid changes in technologies that may displace products sold by us, declining prices of products, our reliance on distributors, delays in product development efforts, uncertainty in customer acceptance of our products, changes in our level of sales or profitability, manufacturing and sourcing risks, availability of materials, cost of components for our products, product defects and returns, as well as the other risks detailed from time to time in our SEC reports, including the report on Form 10-K for the year ended August 31, 2009. We do not assume any obligation to update any information contained in this release.

ExlService Holdings, Inc. (EXLS) to Expand Operations in India

NEW YORK and NEW DELHI, March 8 /PRNewswire-FirstCall/ — ExlService Holdings, Inc., a leading provider of outsourcing and transformation services, today announced plans to set up two new delivery centers in Noida and Jaipur in India.  These centers will expand EXL’s global services capacity, support new client acquisitions and enable greater flexibility to meet client requirements.  It will also strengthen EXL’s ability to provide a stronger business continuity framework.

The new facilities are located in Special Economic Zones (SEZ).  The cost and tax structures of SEZ facilities would help sustain EXL’s competitiveness in the global market.  With the addition of these two facilities, EXL will have 16 delivery centers and offices spread across ten locations in six countries.

“It is essential for EXL to provide our clients with a world-class infrastructure that meets their multi-shore global delivery requirements.  The expanded service delivery will effectively sustain our leadership position while creating new value propositions for our clients,” said Rohit Kapoor, President and Chief Executive Officer of EXL.  “Noida and Jaipur are strategic locations because both these regions offer rich talent pools, robust support infrastructure and are in close proximity to several other EXL delivery centers.”

The new Noida facility will have a capacity of over 800 seats spread over 100,000 square feet in the first phase and another 1400 spread over 120,000 square feet in the second phase. The first phase is expected to be operational in the third quarter of 2010. Noida is currently home to six delivery centers of EXL.

The Jaipur facility will be EXL’s first center in a tier two Indian location. Jaipur is located approximately 250 kilometers from New Delhi.  It is an attractive location due to lower operating costs and ease of access to a qualified talent pool. This facility will have a capacity of approximately 500 seats spread over 38,000 square feet and is expected to be operational in the second quarter of 2010. EXL will focus on providing finance and accounting and transaction processing services from this facility.

About ExlService Holdings, Inc.

ExlService Holdings, Inc. (Nasdaq: EXLS) is a leading provider of outsourcing and transformation services. EXL’s outsourcing services include a full spectrum of business process outsourcing services from offshore delivery centers requiring ongoing process management skills. Transformation services enable continuous improvement of client processes by bringing together EXL’s capabilities in decision analytics, risk and financial management and operations and process excellence services. Headquartered in New York, EXL primarily serves the needs of Global 1000 companies in the insurance, utilities, financial services, transportation and travel sectors. Find additional information about EXL at www.exlservice.com.

This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors are discussed in more details in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2008. These risks could cause actual results to differ materially from those implied by forward-looking statements in this release.

You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect the Company. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

BioSpecifics Technologies Corp. (BSTC) Announces Availability of XIAFLEX(TM)

LYNBROOK, N.Y., March 8 /PRNewswire-FirstCall/ — BioSpecifics Technologies Corp. (Nasdaq: BSTC), a biopharmaceutical company developing first in class collagenase-based products, today announced that XIAFLEX™ is now available in the U.S. by prescription, for the treatment of adult Dupuytren’s contracture patients with a palpable cord. Dupuytren’s contracture is a debilitating disease resulting from excessive collagen deposition that causes contractures of the fingers.

“We’re excited that XIAFLEX is now available to Dupuytren’s contracture patients after many years of hard work,” said Thomas Wegman, President of BioSpecifics. “In addition our shareholders will benefit as we begin to receive royalties, as well as a markup on cost of goods sold and other payments. We look forward to XIAFLEX’s future success.”

The Company’s partner, Auxilium Pharmaceuticals Inc., announced earlier today that the Company has established a distribution system that will allow health care providers to access XIAFLEX in an office setting through specialty distributors and specialty pharmacies or, in the institutional setting, through selected wholesalers. Physicians can receive XIAFLEX after they have undergone training on XIAFLEX, and enrolled themselves and their site of care in the distribution network.

About BioSpecifics Technologies Corp.

BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed injectable collagenase for eleven clinical indications, three of which include: Dupuytren’s contracture, Peyronie’s disease, and frozen shoulder (adhesive capsulitis). Its strategic partner Auxilium has announced the approval of XIAFLEX by the FDA in the U.S. for the treatment of Dupuytren’s contracture. Pfizer, Inc. is responsible for marketing XIAFLEX in Europe. More information about the company may be found on its website at www.biospecifics.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including statements regarding the company’s strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management, its expected revenue growth, and any other statements containing the words “believes”, “expects”, “anticipates”, “plans”, “estimates” and similar expressions, are forward-looking statements. There are a number of important factors that could cause its actual results to differ materially from those indicated by such forward-looking statements, including the ability of its partner Auxilium to achieve a successful launch of XIAFLEX for Dupuytren’s in the United States, obtain regulatory approval of XIAFLEX™ in the United States for Peyronie’s disease and the ability of Pfizer to obtain regulatory approval of XIAFLEX™ in its territory for Dupuytren’s contracture and Peyronie’s disease, which will determine the amount of milestone, royalty and sublicense income payments it may receive; the amount of earn out payments it may receive from DFB Biotech Inc. and its affiliates; whether Auxilium exercises its option under the Company’s license and development agreement for additional indications; the potential benefits of its existing license and development agreements; its estimates regarding expenses, future revenue, capital requirements and needs for additional financing; and other factors identified in the Company’s Form 10-K for the year ended December 31, 2008 and the Form 10-Q for the quarter ended September 30, 2009 and any subsequent reports filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Ballard (BLDP) to Receive DOE Funding to Advance Non-Automotive Fuel Cell Commercialization

Mar. 8, 2010 (PR Newswire) —

    -  $6.2 million in funding to Ballard for fuel cell research and
       development projects
    -  Ballard will collaborate with leading U.S. technology partners
    -  Projects will focus on fuel cell durability and cost to enable
       widespread commercialization of fuel cells for diverse applications

VANCOUVER, March 8 /PRNewswire-FirstCall/ – Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) announced today that it has $6.2 million in project funding from the U.S. Department of Energy (DOE) under contract over a four year period. Ballard Material Products, a U.S. subsidiary of Ballard Power Systems, was awarded $4.1 million as prime for a contract that will focus on improvements in fuel cell durability and cost. Additionally, Ballard will be sub-contractor to leading U.S. technology organizations for several other fuel cell research and development projects funded by the DOE.

“We are excited to be working with a technology leader such as Ballard Power Systems,” said Dr. Rod Borup, Fuel Cell Program Manager, Institute for Hydrogen and Fuel Cell Research at Los Alamos National Laboratory, one of Ballard’s project partners. “This is important work in support of the DOE goal to move fuel cell technology closer to large scale commercialization. Our collaborations with Ballard are in the areas of understanding and improving fuel cell durability and reducing technology cost, which are the primary enablers to rapid market adoption of fuel cell systems.”

Over eighty percent of the announced DOE funding has been allocated to projects aimed at increased durability and cost reduction, with the remaining funds focused on water management modeling. The project for which Ballard Material Products will be prime is meant to improve the understanding of fuel cell materials and components degradation, leading to recommended mitigation strategies to facilitate further commercialization. Resulting advancements will facilitate commercialization of fuel cells for a range of applications, including stationary power generation.

In addition to Los Alamos National Laboratory, Ballard will be partnering with other leading U.S. technology organizations, including Lawrence Berkeley National Laboratory, Sandia National Laboratory, Georgia Institute of Technology, Michigan Technical University, University of Hawaii at Manoa and University of New Mexico.

“The receipt of significant funding from the DOE clearly demonstrates the Department of Energy’s interest in fuel cell market adoption,” said Dr. Christopher Guzy, Chief Technology Officer at Ballard Power Systems. “This funding is completely aligned with Ballard’s plans to continue investing in strategic enhancements of non-automotive fuel cell products.”

About Ballard Power Systems

Ballard Power Systems (TSX: BLD; NASDAQ: BLDP) provides clean energy fuel cell products enabling optimized power systems for a range of applications. To learn more about Ballard, please visit www.ballard.com.

CONTACT: Investor Relations: Lori Rozali, (604) 412-3195, investors@ballard.com; Public Relations: Guy McAree, (604) 412-7919, media@ballard.com

Xyratex Ltd. (XRTX) Reports Preliminary Results for the First Quarter Fiscal Year 2010

HAVANT, United Kingdom, March 8 /PRNewswire-FirstCall/ — Xyratex Ltd (Nasdaq: XRTX), a leading provider of enterprise class data storage subsystems and storage process technology, today announced preliminary results for its fiscal 2010 first quarter, which ended February 28, 2010.

Xyratex expects to report revenues for the first quarter of fiscal 2010 in the range of $313 to $318 million. This compares to the Company’s guidance of revenues between $245 and $285 million.

Xyratex expects GAAP earnings per diluted share for the first quarter of fiscal 2010 to be in the range of $0.77 to $0.87. This compares to guidance of between $0.24 and $0.52.

“We have continued to see an improvement in demand in both our businesses and across all of our major customers. The actions we undertook with regard to the supply chain have helped mitigate the component constraints that impacted our fourth quarter revenue within our Networked Storage Solutions (“NSS”) business. Our upside in revenue this quarter is primarily attributable to the NSS business and reflects the shipment of fourth quarter backlog as well as incremental demand during the quarter,” said Steve Barber, CEO of Xyratex. “We are confident that the fundamentals within the markets we serve will continue to improve into our second quarter.”

Conference Call/Webcast Information

The company will report final fiscal first quarter results on Wednesday, March 31, 2010, and will host a conference call to discuss the results at 1:30 p.m. PT/4:30 p.m. ET on that day.

    The conference call can be accessed online via the company's
     website www.xyratex.com/investors, or by telephone as follows:

    United States                             (866) 700-6293
    Outside the United States                 (617) 213-8835
    Passcode                                  21461915

    A replay will be available via the company's website
    www.xyratex.com/investors, or can be accessed by telephone
     through April 7, 2010 as follows:

    United States                             (888) 286-8010
    Outside the United States                 (617) 801-6888
    Passcode                                  58870632

Safe Harbor Statement

This press release contains forward-looking statements. These statements relate to future events or our future financial performance, including our projected revenue and fully diluted earnings per share data (on a GAAP basis) for the first quarter. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Factors that might cause such a difference include our inability to compete successfully in the competitive and rapidly changing marketplace in which we operate, failure to retain key employees, changes in our customers volume requirements, cancellation or delay of projects and adverse general economic conditions in the United States and internationally. These risks and other factors include those listed under “Risk Factors” and elsewhere in our Annual Report on Form 20-F as filed with the Securities and Exchange Commission (File No. 000-50799). In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

About Xyratex

Xyratex is a leading provider of enterprise class data storage subsystems and storage process technology. The company designs and manufactures enabling technology that provides OEM and disk drive manufacturers with data storage products to support high-performance storage and data communication networks. Xyratex has over 25 years of experience in research and development relating to disk drives, storage systems and high-speed communication protocols.

Founded in 1994 in an MBO from IBM, and with headquarters in the UK, Xyratex has an established global base with R&D and operational facilities in Europe, the United States and South East Asia.

Travelzoo (TZOO) to Present at Wedbush Securities 8th Annual New York Management Access Conference

Mar. 8, 2010 (Business Wire) — Travelzoo Inc. (NASDAQ: TZOO), a global Internet media company, will present at the Wedbush Securities 8^th Annual New York Management Access Conference on Wednesday, March 10, 2010. Travelzoo Chief Executive Officer Holger Bartel is scheduled to present at 2:45 PM ET. The conference is being held at the Le Parker Meridien Hotel in New York City. Attendance to the conference is by invitation only.

About Travelzoo

Travelzoo is a global Internet media company. With more than 18 million subscribers in North America, Europe, and Asia Pacific and 20 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.

Identive Group (INVE) Announces Fourth Quarter 2009 and Year End Results

SANTA ANA, Calif. and ISMANING, Germany, March 5 /PRNewswire-FirstCall/ — SCM Microsystems, Inc. d.b.a. Identive Group (Nasdaq: INVE; Frankfurt Stock Exchange: INV), a provider of products, services and solutions for the security, identification and RFID industries, today announced final results for its 2009 fiscal fourth quarter (Q4) and year (FY).

Q4 2009 Results

On April 30, 2009, the Company completed its merger with Hirsch Electronics Corporation, and the Company’s financial results have included operating results for the Hirsch subsidiary since the date of acquisition. All figures are reported in accordance with U.S. GAAP.

Revenue in Q4 2009 was $11.9 million, in line with the estimate provided on January 21, 2010 and up 32% from $9.0 million in Q4 2008. The increase in Q4 2009 revenues was due to the inclusion of revenue from the Hirsch business unit, partially offset by lower revenues from the SCM smart card reader and digital media reader businesses.

Gross profit margin was 37% in Q4 2009, compared with 46% in the Q4 2008, as a result of a $0.8 million write-off of inventory related to terminals for the stalled German eHealth program, as the government authorities in Germany have indefinitely halted broad implementation of the project.

Operating expenses were $11.3 million in Q4 2009, up 111% from $5.4 million in Q4 2008. The increase primarily was due to the inclusion of operating expenses relating to the Hirsch business, as well as $1.3 million in transaction costs primarily related to the acquisition of Bluehill ID, which were above the estimate of $1.0 million provided on January 21, 2010. Operating loss was $(6.9) million in Q4 2009, compared with operating loss of $(1.2) million in Q4 2008.

Loss from continuing operations in Q4 2009 was $(8.5) million, or $(0.34) per share, compared with loss from continuing operations of $(3.7) million, or $(0.23) per share in Q4 2008. Included in Q4 2009 is a $1.4 million impairment charge related to the write off of equity investments related to the Company’s investment in TranZfinity, Inc. and a related impairment charge of $0.6 million for the exclusivity fees paid to TranZfinity, which was recorded as an intangible asset in the consolidated balance sheet.

Cash and cash equivalents at the end of Q4 2009 were $4.8 million, down from $6.2 million at the end of the previous quarter.

FY 2009 Full Year Results

Total revenue was $41.3 million in FY 2009, in line with the estimate provided January 21, 2010 and up 46% compared with $28.4 million in FY 2008. The increase in FY 2009 revenues was due to the inclusion of eight months of revenue from the Hirsch business unit, partially offset by lower revenues from the SCM smart card reader and digital media reader businesses.

Gross profit margin in FY 2009 was 45% of revenue, compared to gross profit margin of 44% in FY 2008. During FY 2009, gross profit margin was positively impacted by the inclusion of sales of higher-margin Hirsch products in the second, third and fourth quarters, offset by the Q4 2009 inventory write-off described above.

Operating expenses were $32.0 million in FY 2009, up 59% compared with operating expenses of $20.1 million in FY 2008, primarily due to transaction costs and the addition of eight months of expenses for the Hirsch business in FY 2009. Operating loss was $(13.5) million in FY 2009, compared with ($7.6) million in FY 2008.

The Company reported a loss from continuing operations in FY 2009 of $(14.6) million, compared with a loss from continuing operations of $(10.5) million in FY 2008.

“The 2009 merger with Hirsch Electronics was a true transformation for SCM, moving the Company into a leadership position in the area of convergence of physical and logical access control. With the January 2010 business combination with Bluehill ID, we now have the critical components with which to begin to build the signature company in the secure ID market,” said Ayman S. Ashour, CEO and Chairman of Identive. “Our focus now is on vigorous cost reduction to bring down the inflated overhead costs of the Company and to stabilize our financial base. Going forward, we aim to capitalize on our unique position in the market with strong organic growth and continued execution of our acquisition strategy in a more economic manner that reduces the historically high transaction costs. Ultimately, the executive management and the Board are committed to completing the transformation of the company into profit driven growth that delivers value to our stakeholders.”

About Identive Group

Identive Group (Nasdaq: INVE; Frankfurt Stock Exchange: INV) is an international technology group focused on building the world’s signature company in secure identification-based technologies. Through its group of recognized brands, Identive provides leading-edge products and solutions in the areas of physical and logical access control, identity management and RFID systems to governments, commercial and industrial enterprises and consumers. The organization’s growth model is based on a combination of disciplined acquisitive development and strong technology-driven organic growth from its member companies. For additional info visit: www.identive-group.com

NOTE: This press release contains 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. These include, without limitation, the statements by Ayman S. Ashour, including statements about our focus on cost reduction to reduce our expense overhead, reducing the transaction costs of acquisitions, achieving strong organic growth, achieving profit driven growth and building the signature company in secure ID. These statements are based on current expectations or beliefs, as well as a number of assumptions about future events that are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated herein. Our financial results may not meet expectations, we may not become profitable and we may not be successful in our strategy of pursuing both organic and acquisitive growth. Readers should not unduly rely on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of risks and uncertainties, many of which are outside our control, that could cause our actual business and operating results to differ, including, but not limited to, our ability to successfully integrate the Bluehill ID business into ours; our ability to effect significant reductions in our expense base; we may not be able to reduce the transaction costs associated with mergers and acquisitions; our ability to grow the Company based on a strategy of providing products, components and services for the identification systems value chain; our ability to complete additional acquisitions that add to the value of our Company; our ability to complete transactions for mergers and acquisitions at a lower cost than in the past; our ability to grow market share and revenues based on participation in early stage markets for contactless products; our ability to successfully develop and introduce new products that satisfy the evolving and increasingly complex requirements of customers; the markets in which we participate or target may not grow, converge or standardize at anticipated rates or at all, including the identification and identity markets that we are targeting; and we may not successfully compete in the markets in which we participate or target. For a discussion of further risks and uncertainties related to our business, please refer to our public company reports, including our Annual Report on Form 10-K for the year ended December 31, 2008 and subsequent reports filed with the U.S. Securities and Exchange Commission.

                   SCM MICROSYSTEMS, INC. d.b.a. IDENTIVE GROUP
                 Condensed Consolidated Statements of Operations
                     (In thousands, except per share data)
                                  (unaudited)

                                      Three months ended  Twelve months ended
                                          December 31,       December 31,
                                          ------------       ------------
                                         2009     2008      2009      2008
                                         ----     ----      ----      ----
    Revenues                           $11,865   $8,985   $41,315   $28,362
    Cost of revenues                     7,432    4,856    22,804    15,817
                                         -----    -----    ------    ------
         Gross profit                    4,433    4,129    18,511    12,545
                                         -----    -----    ------    ------
    Operating expenses:
      Research and development           1,286      844     5,062     3,902
      Sales and marketing                4,949    2,611    15,584     9,620
      General and administrative         4,426    3,356    12,091     8,075
      Impairment of intangibles            647        -       647         -
      Gain on sale of assets                 -   (1,455)   (1,417)   (1,455)
                                           ---   ------    ------    ------
         Total operating expenses       11,308    5,356    31,967    20,142
                                        ------    -----    ------    ------
         Income (loss) from operations  (6,875)  (1,227)  (13,456)   (7,597)
    Loss and impairment on equity
     investments                        (1,449)    (256)   (2,244)     (256)
    Interest and other, net               (406)  (1,588)     (411)   (1,881)
                                          ----   ------      ----    ------
         Loss from continuing operations
          before income taxes           (8,730)  (3,071)  (16,111)   (9,734)
    Benefit (provision) for income
     taxes                                 242     (601)    1,549      (752)
                                           ---     ----     -----      ----
          Loss from continuing
           operations                   (8,488)  (3,672)  (14,562)  (10,486)
          Gain (loss) from
           discontinued operations          36     (486)      226      (213)
          Gain (loss) on sale of
           discontinued operations          41       36       157       589
                                           ---      ---       ---       ---
          Net loss                     $(8,411) $(4,122) $(14,179) $(10,110)
                                       =======  =======  ========  ========
    Loss per share from continuing
     operations:
       Basic and diluted                $(0.34)  $(0.23)   $(0.66)   $(0.66)
    Gain (loss) per share from
     discontinued operations:
       Basic and diluted                 $0.00   $(0.03)    $0.02     $0.02
                                         -----   ------     -----     -----
    Net loss per share:
       Basic and diluted                $(0.34)  $(0.26)   $(0.64)   $(0.64)
                                        ------   ------    ------    ------
    Shares used in computing loss
     per share:
       Basic and diluted                25,135   15,744    22,013    15,743
       -----------------                ------   ------    ------    ------

    Note: Financial results contained in this release reflect continuing
    operations of the Company's Security and Identity Products and Digital
    Media and Connectivity businesses only. The Company completed the sale of
    its Digital TV solutions business in May 2006; therefore, financial
    results for the Digital TV solutions business are being accounted for as
    discontinued operations.

                    SCM MICROSYSTEMS, INC. d.b.a. IDENTIVE GROUP
                        Condensed Consolidated Balance Sheets
                                   (in thousands)

                                                   December 31, December 31,
    ASSETS                                            2009         2008
    ------                                            ----         ----
    Current assets:
      Cash and cash equivalents                      $4,836      $20,550
      Accounts receivable, net                        6,739        8,665
      Inventories, net                                5,379        5,065
      Other current assets                            1,921        1,139
                                                      -----        -----
        Total current assets                         18,875       35,419

    Equity investments                                    -        2,244
    Property, equipment and other assets, net         1,719        3,168
    Goodwill                                         21,895            -
    Intangibles, net                                 22,082          307
                                                     ------          ---
        Total assets                                $64,571      $41,138
                                                    =======      =======

    LIABILITIES AND STOCKHOLDERS' EQUITY
    ------------------------------------
    Current liabilities:
      Accounts payable                               $5,530       $3,555
      Accrued expenses and other current liabilities  9,231        7,933
                                                      -----        -----
        Total current liabilities                    14,761       11,488
    Long-term income taxes payable                      456          184
    Long-term liabilities to related parties          7,899            -
    Deferred tax liability                            3,515        1,340

    Stockholders' equity                             37,940       28,126
                                                     ------       ------
          Total liabilities and stockholders'
           equity                                   $64,571      $41,138
                                                    =======      =======

ATS Corporation (ATSC) Announces New Contract Awards Totaling $28.6 million

MCLEAN, Va., March 4 /PRNewswire-FirstCall/ — ATS Corporation (“ATSC” or the “Company”) (NYSE Amex: ATSC), a leading information technology company that delivers innovative technology solutions to government and commercial organizations, today announced that it has been awarded several new and follow-on contracts totaling $28.6 million with the U.S. Nuclear Regulatory Commission (“NRC”), the Federal Housing Finance Agency (“FHFA”) and several large insurance customers.

The new NRC contract totals $21.4 million over a five-year term.  With this award, ATSC will continue to support the NRC’s Program Management Methodology (PMM), the major NRC Program Offices, and will maintain the NRC’s Rational Tools Suite.

The new FHFA contract totals $1.4 million over an 18 month term.  Under this award, ATSC will support the agency’s efforts to consolidate and modernize its IT infrastructure, which include network design, management and continuity of operations.  The FHFA regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks and was formed in 2008 by the merger of the Office of Federal Housing Enterprise Oversight (“OFHEO”), the Federal Housing Finance Board (“FHFB”) and the U.S. Department of Housing and Urban Development (“HUD”) government-sponsored enterprise (“GSE”) mission team.

ATSC Chairman and Chief Executive Officer Dr. Edward H. Bersoff commented on the two new government awards, “ATSC has been a trusted service provider to the NRC for the past five years.  With this new award, we look forward to continuing our relationship and plan on further assisting the NRC in other business areas in the future.  ATSC has provided application development and IT support to the predecessor organizations that merged into the FHFA for the last six years.  Our longstanding relationship with this customer is a testament to our expertise and ability to provide the tools necessary to support the mission of this recently established organization.”

The Company also received an award totaling $4.5 million over 12 months from a large health insurance provider, representing an extension of our current assignment to provide application development support for the organization’s claims modernization project.   The remaining $1.3 million in new awards came from several different property and casualty insurance customers, including Arbella Insurance Group, Minnesota Fair Plan, and Michigan Basic Property Insurance Association.  ATSC’s insurance practice leverages its domain expertise to deliver technology solutions that improve the efficiency of business operations.

Bersoff added, “We are very pleased to see our commercial business starting the year with these important wins.   Each of these awards represents extension of our current work, demonstrating our strong track record of performance with our customers.”

About ATS Corporation

ATSC is a leading provider of software and systems development, systems integration, infrastructure management and outsourcing, information sharing, training and consulting to the Department of Defense, Federal civilian agencies, public safety and national security customers, as well as commercial enterprises.  Headquartered in McLean, Virginia, the Company has more than 600 employees at 10 locations across the country.

Any statements in this press release about future expectations, plans, and prospects for ATSC, including statements about the estimated value of the contract and work to be performed, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: our dependence on our contracts with federal government agencies for the majority of our revenue, our dependence on our GSA schedule contracts and our position as a prime contractor on government-wide acquisition contracts to grow our business, and other factors discussed in our latest annual report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2009, as amended on February 24, 2010. In addition, the forward-looking statements included in this press release represent our views as of March 4, 2010. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to March 4, 2010.

Fronteer (FRG) Drilling Returns 1.23 Ounces Per Ton Gold Over 24.8 Feet at Sandman, Nevada

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 03/05/10) – Fronteer (TSX:FRG – News)(AMEX:FRG – News) announces today that drilling by Newmont USA Limited (“Newmont”), a wholly owned subsidiary of Newmont Mining Corporation, has intersected additional bonanza-grade, near-surface oxide gold at Sandman, one of three high-quality Nevada gold projects in Fronteer’s future production platform.

Newmont has provided drill results from six holes at Sandman’s Silica Ridge deposit. Hole NSM-137, starting at a depth of 20 metres, returned:

– 42.28 grams per tonne gold (1.23 ounces per ton) over 7.56 metres (24.8 feet), including 98.24 g/t gold (2.86 oz/ton) over 2.65 metres; and

– 26.52 g/t gold (0.77 oz/ton) over 0.61 metres.

The remaining five holes provided by Newmont all intersected oxide gold mineralization starting within 15 metres of surface, including:

– 1.36 g/t gold (0.04 oz/ton) over 7.25 metres in NSM-125;

– 1.43 g/t gold (0.04 oz/ton) over 11.09 metres, in NSM-130.

Importantly, the high-grade style of gold intersected in NSM-137 is a consistent component of the mineralization at Sandman, reinforcing the high-quality nature of this epithermal system. Specifically, since Newmont began drilling at Sandman in 2008, 24% of all holes (26 out of 110) have returned intercepts of greater than 10 g/t gold over more than 1.0 metres. By way of example, some of these intercepts, which have been previously published, are tabulated below.

 

--------------------------------------------------------------------
             From        To  Intercept                  Au
Hole ID   (metres)  (metres)   (metres)  Au (g/t)  (oz/ton)  Ag (g/t)
--------------------------------------------------------------------
NSM-57      24.78     27.13       2.35    139.03      4.06     47.58
--------------------------------------------------------------------
NSM-69      38.01     39.96       1.95    120.75      3.52     20.39
--------------------------------------------------------------------
NSM-142     57.79     61.26       3.47     90.28      2.63    126.54
--------------------------------------------------------------------
NSM-141     47.15     48.34       1.19     86.91      2.53     67.89
--------------------------------------------------------------------
NSM-55      29.60     31.46       1.86     72.36      2.11     48.16
--------------------------------------------------------------------
NSM-147     12.92     13.93       1.01     52.45      1.53     34.11
--------------------------------------------------------------------
NSM-148     31.76     32.77       1.01     50.55      1.47  2,067.45
--------------------------------------------------------------------
NSM-53      32.58     34.53       1.95     65.69      1.92     57.97
--------------------------------------------------------------------
NSM-110     17.86     20.48       2.62     32.14      0.94     42.92
--------------------------------------------------------------------
NSM-44      37.06     38.89       1.83     29.17      0.85      8.68
--------------------------------------------------------------------
NSM-51     118.57    120.64       2.07     28.90      0.84     69.31
--------------------------------------------------------------------

The true width of the mineralized zones is estimated to be
approximately 90% of those stated. Drill composites were calculated
using a cut-off of 2.0 g/t.

For a comprehensive table of new and previously reported drill results, please click (note: due to the length of the URL, you may need to copy and paste it into your internet browser): http://www.fronteergroup.com/sites/files/fronteer_admin/SandmanDrillResults1010.pdf

Results are pending from additional holes from Newmont’s 2009 work-program.

Newmont has met its annual earn-in obligations and has continued to advance the project, completing more than 12,000 metres of drilling since 2008. As part of this year’s program, Newmont is preparing an expanded Plan of Operations for 2010, which will include exploration drilling to test up to eight new targets, ongoing development drilling and additional geotechnical and metallurgical work.

Sandman is within trucking distance to Newmont’s Twin Creeks mine, potentially eliminating the need for a stand-alone milling facility and other significant capital expenditures if the project were to proceed to production.

Northumberland, Sandman and Long Canyon comprise Fronteer’s future production platform based in Nevada. All three gold deposits have high-grade gold starting at- or near-surface, are potentially open-pit mineable and have encouraging production attributes. Fronteer aims to build regional production by advancing these projects sequentially over the near-term, and funding the company’s growth with low-risk of dilution. In the near-term, Fronteer anticipates ongoing deposit growth to add significant gold ounces to its ledger and pending results from a variety of development activities to clearly define the economic strength of the company’s projects.

Drill samples and analytical data for the Sandman project are being collected under the supervision of Newmont, Fronteer’s joint venture partner and project operator, using industry standard QA-QC protocols. Fronteer’s James Ashton P.E., who is the QP responsible for compiling the data contained in this release, has not verified all the data; however, the grades and widths reported here agree well with the Company’s past results on the project and correspondence with the operator and review of portions of the data has given him no reason to doubt their authenticity. The true width of the mineralized zones is estimated by Fronteer to be approximately 90% of those stated. Primary composite intervals stated in this release were calculated using a cut-off of 0.3 g/t Au, 0.5 g/t Au and 2.0 g/t Au for the higher grade internal intervals. No gold values below the 0.30 g/t Au cut-off were included as internal dilution. The lower 0.3 g/t cut off is used to conform with the 43-101 compliant resources previously calculated on the Sandman Project. For further details on Sandman, please view the technical report prepared by Mine Development Associates (“MDA”), as of May 31, 2007, on SEDAR at http://www.sedar.com.

ABOUT FRONTEER

We intend to become a significant gold producer. Our solid financial position and strengthened operational team give us the ability to advance our key gold projects through to production. Our future potential production platform includes our Long Canyon, Sandman and Northumberland projects – all located in Nevada, one of the friendliest gold-mining jurisdictions in the world. For further information on Fronteer visit http://www.fronteergroup.com/.

Except for the statements of historical fact contained herein, certain information presented constitutes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Such forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, potential size of mineralized zone, and size and timing of exploration and development programs, estimated project capital and other project costs and the timing of submission and receipt and availability of regulatory approvals involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Fronteer to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to international operations and joint ventures, the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of mineral resources, changes in project parameters as plans continue to be refined, future prices of uranium, environmental risks and hazards, increased infrastructure and/or operating costs, labour and employment matters, and government regulation and permitting requirements as well as those factors discussed in the section entitled “Risk Factors” in Fronteer’s Annual Information form and Fronteer’s latest Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although Fronteer has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Fronteer disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required pursuant to applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements.

RCN Corporation (RCNI) to Be Acquired by ABRY Partners

HERNDON, VA — (Marketwire) — 03/05/10 — RCN Corporation (NASDAQ: RCNI) and ABRY Partners today announced their entry into a definitive agreement for an investment fund managed by ABRY to acquire RCN for total consideration of approximately $1.2 billion, including the assumption of debt. As part of this agreement, each share of RCN common stock issued and outstanding immediately prior to the effective time of the merger will be entitled to receive $15 in cash, representing a 43% premium over RCN’s average closing share price during the past 30 trading days and a 22% premium over the closing share price on March 4, 2010. The transaction has fully committed financing, consisting of a combination of equity to be invested by ABRY and debt financing to be provided by SunTrust Robinson Humphrey, Inc., GE Capital, Societe Generale, and certain of their affiliates.

The transaction is expected to be completed in the second half of 2010, subject to receipt of stockholder approval, regulatory approvals, including the receipt of required consents and approvals of the Federal Communications Commission, as well as satisfaction of other customary closing conditions. The transaction is not subject to any financing condition.

Under the terms of the merger agreement, RCN may solicit proposals from third parties for 40 days through April 14, 2010. There can be no assurances that this process will result in an alternative transaction. RCN does not intend to disclose developments with respect to this solicitation process unless and until its Board of Directors has made a decision.

Deutsche Bank Securities Inc. and Waller Capital Partners, LLC acted as financial advisors to the Special Committee of RCN’s Board of Directors with respect to this transaction. Jenner & Block LLP acted as counsel to RCN.

SunTrust Robinson Humphrey acted as exclusive financial advisor to ABRY and will also serve as Left Lead Joint Bookrunner and Administrative Agent for the debt financing. GE Capital Markets and SG Americas Securities will also act as Joint Bookrunners for the debt financing. Edwards Angell Palmer & Dodge LLP acted as counsel to ABRY Partners.

Update Regarding Conference Call for Fourth Quarter Financial Results

As a result of this announcement, RCN will not hold a fourth quarter 2009 results conference call, previously scheduled for March 9, 2010.

About RCN Corporation
RCN Corporation (NASDAQ: RCNI), www.rcn.com, is a competitive broadband services provider delivering all-digital and high definition video, high-speed internet and premium voice services to residential and small-medium business customers under the brand names of RCN and RCN Business Services, respectively. In addition, through its RCN Metro Optical Networks business unit, RCN delivers fiber-based high-capacity data transport services to large commercial customers, primarily large enterprises and carriers, targeting the metropolitan central business districts in the company’s geographic markets. RCN’s primary service areas include Washington, D.C., Philadelphia, Lehigh Valley (PA), New York City, Boston and Chicago. (RCNI-G)

About ABRY Partners
Based in Boston, Massachusetts, ABRY Partners enjoys a position as one of the most experienced and successful media and communications focused private equity investment firms in North America. Since 1989, ABRY Partners has completed over $21 billion of leveraged transactions and other private equity and mezzanine investments, representing investments in more than 500 media and communications properties.

Important Notice
In connection with the proposed transaction, RCN will file a proxy statement and other materials with the Securities and Exchange Commission. Investors and security holders are advised to read the proxy statement and these other materials when they become available because they will contain important information about RCN and the proposed transaction. Investors and security holders may obtain a free copy of the proxy statement (when available) and other documents filed by RCN with the Securities and Exchange Commission at the SEC web site at www.sec.gov. Copies of the proxy statement (when available) and other filings made by RCN with the SEC can also be obtained, free of charge, by directing a request to RCN Corporation, 196 Van Buren Street, Herndon, VA 20170, Attention: Investor Relations. The proxy statement (when available) and such other documents are also available for free on the RCN website at www.rcn.com under “About RCN/Investor Relations/SEC Filings.”

RCN and its directors and officers and other persons may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the proposed acquisition transaction. Information concerning the interests of directors and executive officers in the solicitation is set forth in the RCN proxy statements and Annual Reports on Form 10-K, previously filed with the SEC, and in the proxy statement relating to the proposed transaction when it becomes available.

RCN Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. One can identify these forward-looking statements by the use of words such as “expect,” “anticipate,” “plan,” “may,” “will,” “estimate” or other similar expressions. Because such statements apply to future events, they are subject to risks and uncertainties that could cause the actual results to differ materially. Important factors, which could cause actual results to differ materially, include (without limitation): the ability to obtain regulatory approvals of the transactions contemplated by the acquisition agreement on the proposed terms and schedule; the failure of RCN’s stockholders to approve the transactions contemplated by the acquisition agreement; our ability to maintain relationships with customers, employees or suppliers following the announcement of the transaction; the ability of third parties to fulfill their obligations relating to the proposed transactions, including providing financing under current financial market conditions; the ability of the parties to satisfy the conditions to closing of the transactions contemplated by the acquisition agreement; and the risk that the transactions contemplated by the acquisition agreement may not be completed in the time frame expected by the parties or at all. Additional information on risk factors that may affect the business and financial results of RCN can be found in RCN’s Annual Report on Form 10-K and in the filings of RCN made from time to time with the SEC. RCN undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

InterMune (ITMN) Announces Posting of Briefing Documents for FDA Advisory Committee Meeting on Pirfenidone

BRISBANE, Calif., March 5 /PRNewswire-FirstCall/ — InterMune, Inc. (Nasdaq: ITMN) announced today that the U.S. Food and Drug Administration (FDA) has posted briefing documents for the March 9 Pulmonary-Allergy Drugs Advisory Committee (PADAC) meeting to review the New Drug Application (NDA) for pirfenidone, InterMune’s investigational drug candidate for the treatment of patients with idiopathic pulmonary fibrosis (IPF) to reduce decline in lung function. The proposed trade name for pirfenidone is Esbriet®.

IPF is a disabling and ultimately fatal disease that affects approximately 200,000 people in the United States and Europe combined, with approximately 30,000 new cases reported per year in each region. There are no medicines approved in the United States or in Europe for the treatment of IPF. Pirfenidone was approved in Japan in October of 2008 and is marketed by Shionogi & Co. Ltd as Pirespa®.

The Advisory Committee meeting is scheduled for 8:00 a.m. EST on Tuesday, March 9, 2010. The briefing materials can be accessed at: http://www.fda.gov/AdvisoryCommittees/CommitteesMeetingMaterials/Drugs/Pulmonary-AllergyDrugsAdvisoryCommittee/ucm199877.htm

Pirfenidone Regulatory Path – NDA and MAA

On November 4, 2009, InterMune submitted the NDA for pirfenidone to the FDA, seeking approval to market pirfenidone for the treatment of patients with IPF to reduce decline in lung function. Pirfenidone has been granted Orphan Drug and Fast Track designation by the FDA, and also has been granted Orphan Drug status in Europe. On January 4, 2010, InterMune announced that the FDA granted Priority Review designation for the pirfenidone NDA. Priority Review designation may be granted by the FDA to an NDA for drugs that have the potential to offer major advances in treatment, or provide a treatment where no adequate therapy exists. Based on the Prescription Drug User Fee Act (PDUFA), the FDA has set an action date for the NDA of May 4, 2010.

On March 2, 2010, InterMune announced that it had submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA), seeking approval to market pirfenidone for the treatment of IPF patients in the European Union.

About Pirfenidone

Preclinical and in-vitro evidence have shown that pirfenidone has both anti-fibrotic and anti-inflammatory effects. In February 2009, InterMune announced the results of the company’s two global Phase 3 clinical trials evaluating pirfenidone for the treatment of IPF, known as the CAPACITY trials. InterMune believes that these data support the safety and efficacy of pirfenidone in IPF patients on a number of clinical measures. Prior to the CAPACITY results, data had previously been presented from another Phase 3 study and three Phase 2 clinical trials in more than 400 patients which suggested that pirfenidone may positively affect lung function and disease progression in patients with IPF. In those clinical studies, pirfenidone was safe and generally well-tolerated, with the most frequent side effects reported being photosensitivity rash and gastrointestinal symptoms. In October of 2008, pirfenidone was approved for use in IPF patients in Japan and is marketed as Pirespa® by Shionogi & Co. Ltd. in that country.

About IPF

IPF is characterized by inflammation and scarring (fibrosis) in the lungs, hindering the ability to process oxygen and causing shortness of breath (dyspnea) and cough and is a progressive disease, meaning that over time, lung scarring and symptoms increase in severity. The median survival time from diagnosis is two to five years, with a five-year survival rate of approximately 20%. Patients diagnosed with IPF are usually between the ages of 40 and 70, with a median age of 63 years and the disease tends to affect slightly more men than women.

About InterMune

InterMune is a biotechnology company focused on the research, development and commercialization of innovative therapies in pulmonology and hepatology. InterMune has an R&D portfolio addressing idiopathic pulmonary fibrosis (IPF) and hepatitis C virus (HCV) infections. The pulmonology portfolio includes pirfenidone for which InterMune has completed a Phase 3 program in patients with IPF (CAPACITY) and a New Drug Application (NDA) has been accepted for Priority Review by the FDA. The hepatology portfolio includes the HCV protease inhibitor compound RG7227 (ITMN-191) that entered Phase 2b in August 2009 and a second-generation HCV protease inhibitor research program. For additional information about InterMune and its R&D pipeline, please visit www.intermune.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended, which reflect InterMune’s judgment and involve risks and uncertainties as of the date of this release, including without limitation the statements related to anticipated regulatory timelines and the likelihood of regulatory success. All forward-looking statements and other information included in this press release are based on information available to InterMune as of the date hereof, and InterMune assumes no obligation to update any such forward-looking statements or information. InterMune’s actual results could differ materially from those described in InterMune’s forward-looking statements. Pirfenidone failed to achieve statistical significance on the primary endpoint in one of its two pivotal clinical trials and there can be no assurance that the regulatory authorities in either the United States or Europe will grant regulatory approval based upon these data, in combination with the other efficacy analyses and safety results the company has submitted in support of its NDA and MAA filings. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in detail in the risk factors attached as Exhibit 99.3 to InterMune’s Form 8-K filed with the SEC on January 20, 2010, and other periodic reports filed with the SEC, including the following: (i) risks related to the long, expensive and uncertain clinical development and regulatory process, including having no unexpected safety, toxicology, clinical or other issues or delays in anticipated timing of the regulatory approval process; (ii) risks related to failure to achieve the clinical trial results required to commercialize our product candidates; and (iii) risks related to timely patient enrollment and retention in clinical trials. The risks and other factors discussed above should be considered only in connection with the fully discussed risks and other factors discussed in detail in the Form 8-K and InterMune’s other periodic reports filed with the SEC. InterMune undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in InterMune’s expectations.

China Armco (CNAM) Metals Enters Into Scrap Steel Supply Contract With Major China Steel Producer

SAN MATEO, CA, Mar. 4, 2010 (Marketwire) —

SAN MATEO, CA — (Marketwire) — 03/04/10 — China Armco Metals, Inc. (NYSE Amex: CNAM), a distributor of imported metal ore and metal recycler with a new state of the art scrap metal recycling facility in China, today announced that Armet Renewable Resource Company, Limited, the Company’s wholly owned subsidiary, has signed a contract to supply a major Chinese steel producer with up to 230,000 tons of scrap steel in 2010. The contract calls for the delivery of up to 23,000 metric tons of scrap steel per month for 10 months beginning in March of 2010. Based on the current spot price of scrap steel, this supply contract is valued at over $100 million.

Management anticipates this supply contract will allow the company to sell all of the initial production from its recently completed 1 million ton recycling facility during the first several months of operation. Additionally, management anticipates reaching a full capacity run rate sometime in the fourth quarter of 2010. At full capacity the facility is capable of processing approximately 1 million metric tons of scrap steel per year or over $400 million annually at current prices.

Commenting on the supply contract, Mr. Kexuan Yao, CEO and Chairman of China Armco Metals, Inc., stated, “We are very excited to have secured such a sizable contract with this leading steel producer. This essentially has pre-sold the first several months of production from our newly opened facility as we ramp up capacity over the coming quarters. We are confident that this contract coupled with our other operations will enable our company to experience significant revenue growth and enhanced earnings power for the foreseeable future.”

About China Armco Metals, Inc.

China Armco Metals, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout the PRC and has entered the recycling business with the Company’s acquisition of 22 acres of land for the construction and operation of a one million ton per year shredder and recycler of metals. The Company maintains customers throughout China which include the fastest growing steel producing mills and foundries in the PRC. Raw materials are supplied from global suppliers in India, Hong Kong, Nigeria, Brazil, Turkey, the Philippines and Libya. The Company’s product lines include ferrous and non-ferrous ore; iron ore, chrome ore, nickel ore, copper ore, manganese ore and steel billet. Upon completion and testing of its new facility late in the fourth quarter of 2009, China Armco Metals expects to launch operations in its steel recycling and scrap metal recycling business early in 2010. The recycling facility is expected to be capable of recycling one million metric tons of scrap metal per year which will position the Company as one of the top 10 largest recyclers of scrap metal in China. ARMCO estimates the recycled metal market as 70 million metric tons. For more information about China Armco, please visit http://www.armcometals.com

Safe Harbor Statement

This press release contains forward-looking statements. China Armco Metals, 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. 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.

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 include unforeseen natural disasters, our ability to deliver the quantity stated in our contract, fluctuations in raw material prices, we may not be able to pass on cost increases to customers and disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2008.

SXC Health Solutions (SXCI) Signs PBM Contract with HealthSpring

Mar. 4, 2010 (PR Newswire) —

LISLE, IL, March 4 /PRNewswire-FirstCall/ – SXC Health Solutions Corp. (“SXC” or the “Company”) (NASDAQ: SXCI, TSX: SXC), a leading provider of pharmacy benefit management (PBM) products and services, today announced that its informedRx PBM unit has been awarded a contract with HealthSpring Inc. (“HealthSpring”) having an initial term of three years with provisions for two additional one-year extensions. HealthSpring, based in Nashville, Tennessee, offers Medicare Advantage plans across seven states to over 193,000 members and a national stand-alone Medicare prescription drug plan to 387,000 members. SXC will provide HealthSpring with its full suite of PBM services which include mail order pharmacy, specialty pharmacy, retail network management, Medicare compliance services, and patient care clinical services, managing an anticipated drug spend of approximately $1 billion annually. HealthSpring will deploy mail and specialty pharmacy services beginning in 2010, with implementation of the full PBM services on January 1, 2011.

“The flexibility of SXC’s full service PBM offering, combined with its expertise in Medicare Part D, aligns perfectly with our commitment to design competitive products and provide high quality healthcare benefits to Medicare members,” said Michael G. Mirt, President and Chief Operating Officer of HealthSpring, Inc. “We manage our Medicare Advantage plans locally and require customized benefits programs throughout our network, which made SXC, with its flexible PBM service model, an ideal partner to help us achieve our service and cost containment objectives.”

“HealthSpring is a recognized market leader in Medicare, and we are very pleased to earn their business,” said Mark Thierer, President and CEO of SXC. “The size and scope of this agreement makes HealthSpring a strategic addition to our PBM client base and validates our ability to scale our offerings to meet the needs of some of the largest and most innovative healthcare organizations in the country.”

SXC collaborates with clients to use pharmacy data to more effectively manage medical costs. Taking a highly consultative approach, SXC will help HealthSpring use these insights to drive smarter plan design and pre-emptive intervention in high-risk clinical situations by utilizing its Integrail(TM) clinical decision support tool. Additionally, HealthSpring has a unique and differentiated relationship with its physicians – SXC will deploy its provider technology tools to actively engage their physician community.

About HealthSpring Inc.

HealthSpring is based in Nashville, Tennessee, and is one of the country’s largest Medicare Advantage coordinated care plans. HealthSpring currently owns and operates Medicare Advantage plans in Alabama, Florida, Georgia, Illinois, Mississippi, Tennessee, and Texas and also offers a national stand-alone Medicare prescription drug plan. For more information, visit www.healthspring.com.

About SXC Health Solutions Corp.

SXC Health Solutions Corp. is a leading provider of pharmacy benefit management (PBM) services and Healthcare Information Technology (HCIT) solutions to the healthcare benefits management industry. As the industry’s “Technology-Enabled PBM”(TM), SXC’s product offerings and solutions combine a wide range of advanced PBM services, software applications, application service provider processing services, and professional services to help healthcare organizations reduce the cost of prescription drugs and deliver better healthcare to their members. SXC serves many of the largest organizations in the pharmaceutical supply chain, such as health plans; employers; Federal, provincial, and state governments; institutional pharmacies; pharmacy benefit managers; and retail pharmacy chains. SXC is headquartered in Lisle, Illinois with multiple locations in North America. Learn more at www.sxc.com.

Forward-Looking Statements

Certain statements included herein, including those that express management’s expectations or estimates of our future performance relating to the new agreement with HealthSpring Inc., constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause our actual financial results, performance, or achievements to be materially different from our estimated future results, performance or achievements expressed or implied by those forward-looking statements. Factors to be considered are discussed from time to time in SXC’s filings with the U.S. Securities and Exchange Commission, including the risks and uncertainties discussed under that captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.sec.gov. Investors are cautioned not to put undue reliance on forward-looking statements. All subsequent written and oral forward-looking statements attributable to SXC or persons acting on our behalf are expressly qualified in their entirety by this notice. We disclaim any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise. Please see our Current Report on Form 8-K dated March 4, 2010 for additional information regarding the new agreement with HealthSpring Inc.

Bell Microproducts (BELM) Announces Financial Results for the Fourth Quarter and Full Fiscal Year 2009

Mar. 3, 2010 (GlobeNewswire) —

Coldwater Creek Inc. (CWTR) Announces Fourth Quarter and Fiscal 2009 Results Coldwater Creek Announces Fourth Quarter and Fiscal 2009 Results

Mar. 3, 2010 (PR Newswire) —

SANDPOINT, Idaho, March 3 /PRNewswire-FirstCall/ — Coldwater Creek Inc. (Nasdaq: CWTR) today reported financial results for the three-month and twelve-month periods ended January 30, 2010.

Fourth Quarter 2009 Operating Results

    --  Net sales were $318.4 million, compared with $283.2 million in the
        fiscal 2008 fourth quarter. Sales from the retail segment, which
        includes the Company's premium retail stores, outlet stores, and day spa
        locations, were $221.0 million versus $199.7 million in the fiscal 2008
        fourth quarter. Comparable premium store sales increased 8.9 percent in
        the fourth quarter versus the fourth quarter of fiscal 2008.  Direct
        sales (phone and internet) were $97.3 million, compared with $83.5
        million in the same period last year.
    --  Gross profit for the fiscal 2009 fourth quarter was $90.3 million, or
        28.4 percent of net sales, compared with $76.0 million, or 26.8 percent
        of net sales, for the fiscal 2008 fourth quarter. The increase in gross
        profit was primarily due to an increase in merchandise margin and
        leverage of occupancy expenses resulting from higher sales.
    --  Selling, general and administrative expenses for the fiscal 2009 fourth
        quarter were $105.2 million, or 33.0 percent of net sales, compared with
        $110.3 million, or 38.9 percent of net sales, for the fiscal 2008 fourth
        quarter. The decrease in selling, general and administrative expenses of
        approximately $5.1 million was driven by lower employee costs, partially
        offset by higher marketing expense as compared with the fourth quarter
        last year.
    --  Operating loss for the fourth quarter was $15.5 million, reflecting an
        improvement of $18.8 million from an operating loss of $34.3 million for
        the fiscal 2008 fourth quarter.
    --  Net loss for the fourth quarter was $9.7 million, or $0.11 per share,
        compared with net loss of $18.6 million, or $0.20 per share, for the
        fiscal 2008 fourth quarter. Net loss for fourth quarter 2009 included a
        $0.6 million non-cash charge related to certain premium retail store
        asset impairments, or approximately $0.01 per share.

Dennis Pence, Chairman and Chief Executive Officer of Coldwater Creek, commented, “Our fourth quarter results were significantly ahead of the prior year as we began to see an improvement in our comparable store sales and direct revenue, as well as a modest expansion in merchandise margin. In addition, we continued to focus on expense discipline and ended the quarter with a strong balance sheet. While we are disappointed to report a loss in fiscal 2009, we are confident that we are taking the right steps to position the company for profitability and growth.”

“For fiscal 2010, we expect to improve merchandise margin as we re-balance our assortments, align our pricing with the high quality and fashion inherent in our product lines, and continue to modify our quarterly sale events,” Mr. Pence continued. “In addition, we have a renewed discipline towards inventory management that is focused on ensuring that our inventory investments are aligned with the current economic conditions. At the same time, we will continue to tightly manage expense and capital investments. We expect these efforts to result in a consistent improvement in our operating results in fiscal year 2010.”

Fiscal Year 2009 Operating Results

    --  Net sales were $1,038.6 million, compared with $1,024.2 million in the
        twelve months ended January 31, 2009. Sales from the retail segment,
        which includes the Company's premium retail stores, outlet stores, and
        day spa locations, were $782.4 million versus $751.4 million last year.
        Direct sales (phone and internet) were $256.2 million, compared with
        $272.9 million in the same period last year.
    --  Gross profit for fiscal 2009 was $334.3 million, or 32.2 percent of net
        sales, compared with $350.6 million, or 34.2 percent of net sales, in
        fiscal 2008. The decline in gross profit was primarily due to lower
        merchandise margins resulting from increased promotional activity and
        lower initial markups.
    --  Selling, general and administrative expenses for fiscal 2009 were $378.9
        million, or 36.5 percent of net sales, compared with $395.3 million, or
        38.6 percent of net sales, for fiscal 2008. The decrease in selling,
        general and administrative expenses of approximately $16.5 million was
        primarily related to lower employee costs and reduced marketing expenses
        as well as other related costs, partially offset by $6.0 million in
        expenses related to the separation from the Company's former CEO.
    --  Net loss for fiscal 2009 was $56.1 million, or $0.61 per share, compared
        with a net loss of $26.0 million, or $0.29 per share, in fiscal 2008.
        Results in 2008 include a non-cash charge of $0.9 million after-tax, or
        $0.01 per share, related to the impairment of certain Coldwater Creek
        day spa locations.
    --  Net loss for fiscal 2009 included the following: (i) a $25.3 million
        non-cash income tax charge, or $0.28 per share, related to a valuation
        allowance against net deferred tax assets; (ii) a $3.8 million after-tax
        charge, or $0.04 per share, related to the separation from the Company's
        former CEO; and (iii) a $0.6 million non-cash charge, or approximately
        $0.01 per share, related to premium retail store asset impairments.

Income Tax Valuation Allowance

U.S. GAAP requires that we assess whether a valuation allowance should be established against our deferred tax assets based on the consideration of all available evidence using a “more likely than not” standard. In making such judgments, significant weight is given to evidence that can be objectively verified. A company’s current or previous losses are given more weight than its projected future performance. Consequently, based on available evidence, in particular our three-year historical cumulative losses, we recorded a valuation allowance against our net deferred tax asset in the third quarter of fiscal 2009. The recording of a valuation allowance has no impact on cash and does not preclude the company from utilizing the full amount of the deferred tax asset in future profitable periods.

Balance Sheet Highlights:

    --  Cash totaled $84.7 million, compared with $81.2 million at the end of
        fiscal 2008.
    --  Premium retail store inventory per square foot, including retail
        inventory in the distribution center, increased approximately 20.0
        percent compared to January 31, 2009.
    --  Total inventory increased to $161.5 million, compared to $135.4 million
        at the end of fiscal 2008.
    --  Working capital was $98.7 million, compared to $93.0 million as of
        January 31, 2009.

Store Openings

The Company opened no new premium retail stores during the three-month period ended January 30, 2010, ending the year with 356 premium retail stores. The Company plans to open approximately 20 new retail stores in fiscal 2010.

Outlook

The Company expects to report a loss in the first quarter of fiscal 2010, however, it expects an improvement over the $0.08 loss per share in the first quarter of fiscal 2009. This assumes a mid-single digit year-over-year increase in total net sales. For fiscal 2010, the company expects to report earnings per share of between $0.08 and $0.12, with the majority of the earnings growth coming in the second half of the year. This compares to actual fiscal 2009 loss per share of $0.61, which includes costs of $0.33 per share related to the income tax valuation allowance, separation agreement charges, and non-cash asset impairment charges.

Conference Call Information

Coldwater Creek will host a conference call on Wednesday, March 3, 2010, at 4:30 p.m. (Eastern) to discuss fiscal 2009 fourth quarter and full year results. To listen to the live Web cast, log on to http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=92631&ev

entID=2750365. Also, a link to the live Web cast of the call is provided in the Investor Relations section of the Company’s Web site at http://www.coldwatercreek.com/. The call will be archived from approximately one hour after the conference call until Wednesday, March 17, 2010. The replay can be accessed by dialing (877) 660-6853 and giving account number 3055 and the passcode 344841. A replay and transcript of the call will also be available in the investor relations section of the Company’s Web site.

Founded in 1984, and headquartered in Sandpoint, Idaho, Coldwater Creek is a leading specialty retailer of women’s apparel, gifts, jewelry, and accessories. The company sells its merchandise through premium retail stores across the country, online at coldwatercreek.com and through its catalogs.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking statements” within the meaning of the securities laws, including statements relating to our expected financial results for the first fiscal quarter and fiscal year of 2010. These statements are based on management’s current expectations and are subject to a number of uncertainties, risks and assumptions that may not fully materialize or may prove incorrect. As a result, our actual results may differ materially from those expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include, but are not limited to:

    --  the inherent difficulty predicting the effectiveness of promotional
        discounting, as well as the difficulty in forecasting consumer buying
        and retail traffic patterns and trends, which continue to be erratic and
        are affected by factors beyond our control, such as severe weather, the
        current macroeconomic conditions, high unemployment, continuing heavy
        promotional activity in the specialty retail marketplace, and
        competitive conditions and the possibility that because of lower than
        expected customer response, or because of competitive pricing pressures,
        we may be required to sell merchandise at lower than expected margins,
        or at a loss;
    --  the possibility that our sales and earnings projections will not be
        realized, due to changing business and economic conditions;
    --  our potential inability to recover the substantial fixed costs of our
        retail store base due to sluggish sales;
    --  our potential inability to continue to fund our operations solely with
        operating cash as a result of either lower sales or higher than
        anticipated costs, or both;
    --  delays we may encounter in sourcing merchandise from our foreign and
        domestic vendors, including the potential inability of our vendors to
        finance production of the goods we order; risks related to our foreign
        sourcing strategy; and the possibility that foreign sourcing may not
        lead to any reduction of our sourcing costs or improvement in our
        margins;
    --  the effect of volatile energy costs on various aspects of our business,
        including shipping, transportation, merchandise acquisition and consumer
        spending;
    --  increasing competition from discount retailers and companies that have
        introduced concepts or products similar to ours;
    --  difficulties encountered in anticipating and managing customer returns
        and the possibility that customer returns will be greater than expected;
    --  the inherent difficulties in catalog management, for which we incur
        substantial costs prior to mailing that we may not be able to recover,
        and the possibility of unanticipated increases in mailing and printing
        costs;
    --  unexpected costs or problems associated with our efforts to manage our
        expanding and increasingly complex business, including our current
        efforts to improve key management information systems and controls;
    --  the risk that the benefits expected from our strategic initiatives will
        not be achieved or may take longer to achieve than we expect;

and such other factors as are discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission (“SEC”). We believe that these forward-looking statements are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. We do not assume any obligation to publicly release any revisions to forward-looking statements to reflect events or changes in our expectations occurring after the date of this release.

                      COLDWATER CREEK INC. AND SUBSIDIARIES
         CONSOLIDATED STATEMENTS OF OPERATIONS AND SUPPLEMENTAL DATA
    (unaudited, in thousands except for per share data and store counts) 

                            Three Months Ended         Fiscal Year Ended
                            ------------------         -----------------
                         January 30,  January 31,  January 30,  January 31,
    Statements of
     Operations:                2010         2009         2010         2009
                                ----         ----         ----         ---- 

    Net sales               $318,364     $283,229   $1,038,581   $1,024,221
    Cost of sales            228,040      207,231      704,300      673,661
                             -------      -------      -------      -------
        Gross profit          90,324       75,998      334,281      350,560
    Selling, general and
     administrative
     expenses                105,187      110,299      378,852      395,320
    Loss on asset
     impairments                 607            -          607        1,452
                                 ---          ---          ---        -----
        Loss from
         operations          (15,470)     (34,301)     (45,178)     (46,212)
    Interest, net, and
     other                      (239)          65         (797)       1,508
                                ----           --         ----        -----
        Loss before
         income taxes        (15,709)     (34,236)     (45,975)     (44,704)
    Income tax provision
     (benefit)                (6,031)     (15,683)      10,157      (18,741)
                              ------      -------       ------      -------
        Net loss             $(9,678)    $(18,553)    $(56,132)    $(25,963)
                             =======     ========     ========     ======== 

        Net loss per share -
             Basic and
         Diluted              $(0.11)      $(0.20)      $(0.61)      $(0.29)
                              ======       ======       ======       ====== 

        Weighted average
         shares outstanding -
         Basic and Diluted    92,081       91,213       91,597       91,037 

    Supplemental Data:
                            Three Months Ended         Fiscal Year Ended
                            ------------------         -----------------
                         January 30,  January 31,  January 30,  January 31,
    Operating                2010         2009         2010         2009
    Statistics:              ----         ----         ----         ---- 

    Catalogs mailed         33,989       27,083       91,365       85,950
    Premium retail
     store count                                         356          348
    Spa store count                                        9            9
    Outlet store count                                    36           35
    Premium retail store
     square footage                                    2,108        2,055 

                            Three Months Ended         Fiscal Year Ended
                            ------------------         -----------------
                         January 30,  January 31,  January 30,  January 31,
    Segment Net Sales:       2010         2009         2010         2009
                             ----         ----         ----         ---- 

    Retail                  $221,026     $199,702     $782,429     $751,352
    Direct                    97,338       83,527      256,152      272,869
                              ------       ------      -------      -------
      Total                 $318,364     $283,229   $1,038,581   $1,024,221
                            ========     ========   ==========   ========== 

                 COLDWATER CREEK INC. AND SUBSIDIARIES
                      CONSOLIDATED BALANCE SHEETS
           (unaudited, in thousands, except for share data)       

                                ASSETS                            

                                           January 30,  January 31,
                                               2010         2009
                                               ----         ----
    CURRENT ASSETS:
        Cash and cash equivalents            $84,650      $81,230
        Receivables                            5,977       15,991
        Inventories                          161,546      135,376
        Prepaid and other                      9,385       11,086
        Income taxes recoverable              12,074       14,895
        Prepaid and deferred marketing
         costs                                 5,867        5,361
        Deferred income taxes                  6,797        9,792
                                               -----        ----- 

             Total current assets            286,296      273,731 

    Property and equipment, net              295,012      337,766
    Deferred income taxes                          -       14,147
    Restricted cash                              890        1,776
    Other                                      1,184        1,207
                                               -----        ----- 

             Total assets                   $583,382     $628,627
                                            ========     ======== 

                       LIABILITIES AND STOCKHOLDERS' EQUITY       

    CURRENT LIABILITIES:
        Accounts payable                     $99,786      $93,355
        Accrued liabilities                   82,551       82,469
        Current deferred marketing fees and
         revenue sharing                       5,215        4,918
                                               -----        ----- 

      Total current liabilities              187,552      180,742 

    Deferred rents                           125,337      137,216
    Capital lease and other financing
     obligations                              11,454       13,316
    Supplemental Employee Retirement
     Plan                                      9,202        7,807
    Deferred marketing fees and revenue
     sharing                                   7,149        5,823
    Deferred income taxes                      6,480            -
    Other                                        647        1,227
                                                 ---        ----- 

      Total liabilities                      347,821      346,131
                                             -------      ------- 

    Commitments and
     contingencies                                                

    STOCKHOLDERS' EQUITY:
        Preferred stock, $.01 par value,
         1,000,000 shares
         authorized,
         none issued and outstanding               -            -
        Common stock, $.01 par value,
         300,000,000 shares
         authorized,
         92,163,597 and 91,264,527 shares
          issued, respectively                   922          913
        Additional paid-in capital           124,148      115,921
        Accumulated other comprehensive
         loss                                   (373)      (1,334)
        Retained earnings                    110,864      166,996
                                             -------      ------- 

      Total stockholders' equity             235,561      282,496
                                             -------      ------- 

      Total liabilities and
       stockholders' equity                 $583,382     $628,627
                                            ========     ======== 

           COLDWATER CREEK INC. AND SUBSIDIARIES
           CONSOLIDATED STATEMENTS OF CASH FLOWS
                 (unaudited, in thousands)             

                                     Fiscal Year Ended
                                     -----------------
                                  January 30,  January 31,
                                     2010         2009
                                     ----         ---- 

    OPERATING ACTIVITIES:
    Net loss                     $(56,132)    $(25,963)
    Adjustments to reconcile net
     loss to net cash provided by
      operating activities:
        Depreciation and
         amortization              63,721       61,811
        Stock-based compensation
         expense                    6,718        4,779
        Supplemental Employee
         Retirement Plan
         expense                    3,011        1,293
        Deferred income taxes      22,842       (8,930)
        Excess tax benefit from
         exercises of stock
         options                     (650)         (82)
        Net loss on asset
         dispositions               1,120          405
        Loss on asset
         impairments                  607        1,452
        Other                         211          318
    Net change in current assets
     and liabilities:
        Receivables                10,014       12,529
        Inventories               (26,170)       4,617
        Prepaid and other and
         income taxes
         recoverable                3,847        6,199
        Prepaid and deferred
         marketing costs             (506)       8,301
        Accounts payable            6,729       23,126
        Accrued liabilities          (276)      (7,472)
        Income taxes payable            -            -
    Change in deferred
     marketing fees and
     revenue sharing                1,623       (1,575)
    Change in deferred rents      (11,285)      16,353
    Other changes in non-
     current assets and
     liabilities                     (799)      (1,628)
                                     ----       ------
          Net cash provided by
           operating
           activities              24,625       95,533
                                   ------       ------ 

    INVESTING ACTIVITIES:
         Purchase of property and
          equipment               (21,681)     (81,215)
         Proceeds from asset
          dispositions                 58        3,086
         Change in restricted
          cash                        886          888
                                      ---          ---
          Net cash used in
           investing
           activities             (20,737)     (77,241)
                                  -------      ------- 

    FINANCING ACTIVITIES:
        Proceeds from exercises
         of stock options and
         ESPP purchases             1,223        1,318
        Excess tax benefit from
         exercises of stock
         options                      650           82
        Payments on capital
         lease and other
         financing
         obligations               (1,723)        (941)
        Credit facility
         financing costs             (618)           -
        Purchase and retirement
         of treasury stock              -            -
                                     ----         ----
          Net cash provided by
           (used in) financing
           activities                (468)         459
                                     ----          --- 

            Net increase in cash
             and cash equivalents   3,420       18,751
                Cash and cash
                 equivalents,
                 beginning         81,230       62,479
                                   ------       ------ 

            Cash and cash
             equivalents,
             ending               $84,650      $81,230
                                  =======      =======

SinoCoking (SCOK) Commences Construction of New Coking Facility

Mar. 3, 2010 (Business Wire) — SinoCoking Coal and Coke Chemical Industries, Inc. (NASDAQ:SCOK) (the “company” or “SinoCoking”) today announced that it broke ground today on the construction of its new state-of-the-art coking facility in Pingdingshan city, in Henan Province, China. The new coking facility, which will cost an estimated $70 million to complete, is expected to launch production of metallurgical and chemical coke, coal gas, and various chemical products by early 2011. The cleaner, more efficient coking facility will have an anticipated maximum annual production capacity of 900,000 metric tons of coke. SinoCoking management projects that if completed as planned, the launch of the new facility could result in a five-fold or more increase in the company’s annual coke production and sales volume from the fiscal year 2012 and beyond, compared to current levels.

SinoCoking presently relies on its three parallel WG-86 type coke ovens, which have certain technical limitations. SinoCoking’s current facilities have a production capacity of up to 250,000 metric tons per year.

The new coking facility will be capable of utilizing a broader range of coal inputs compared to the company’s existing plant, with even lower thermal properties (a G-index as low as 50). Since the average cost of inputs will decrease, this is expected to enable SinoCoking to produce coke at a better profit margin. The new facility is also expected to generate an additional 66.5 million Kilowatt hours of electricity each year from the conversion of heat emitted from the coal-gas powered system, which is used to power steam generators. The new facility will also produce purified coal gas as a fuel source for use by city residents. These two byproducts alone could result in an additional estimated $43 to $62 million in projected incremental revenue per year for SinoCoking, based on current energy prices and currency translation rates. The company’s plans to provide coal gas to local residents have received approval from the city of Daying, which will involve providing coal gas to consumers at a price per thermal equivalent unit that is 20% less than the current price of liquid natural gas (LNG), a competing alternative. In addition, SinoCoking anticipates that the new coking facility will expand its product portfolio, enabling it to offer its customers other products such as crude benzol, sulfur, and ammonium sulfate.

“We view this as a key step in the implementation of our growth strategy,” said Jianhua Lv, Chairman and Chief Executive Officer of SinoCoking. “Power and fuel scarcity, as well as environmental side effects of industrial growth, are key issues in China today. Our new coking facility project helps to address these issues, and that is why our project is strongly supported by our local and provincial governments. Furthermore, the completion of this project would enable us to produce our coke products with even greater efficiency, and will provide expanded revenue opportunities to SinoCoking. We look forward to the completion of this project, to further solidify our leadership position in the regional market.”

SinoCoking is a supplier of the vital commodities of thermal and metallurgical coal and coke to industrial users such as power plants, steel mills, plant and factory operators and manufacturers in China. The Company is a vertically-integrated processor that uses coal from both its own mines and that of third-party mines to provide basic and value-added coal products to its customer base. SinoCoking began producing metallurgical coke in 2002, and since then has expanded its production to become an important supplier to regional steel producers in central China.

About SinoCoking

SinoCoking Coal and Coke Chemical Industries, Inc., a Florida corporation (NASDAQ: SCOK), is a vertically-integrated coal and coke processor that uses coal from both its own mines and that of third-party mines to produce basic and value-added coal products for steel manufacturers, power generators, and various industrial users. SinoCoking currently has mining rights and capacity to extract 300,000 tons of coal per year from mines located in the Henan Province in central China. SinoCoking has been producing metallurgical coke since 2002, and acts as a key supplier to regional steel producers in central China. SinoCoking, a Florida corporation, owns its assets and conducts its operations through its subsidiaries, Top Favour Limited, a British Virgin Islands holding company; Pingdingshan Hongyuan Energy Science; and Technology Development Co., Ltd. (“Hongyuan”); Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd. (“Hongli”); Baofeng Coking Factory; Baofeng Hongchang Coal Co., Ltd.; and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd.

For further information about SinoCoking, please refer to the Definitive Proxy Statement of the Company (previously named Ableauctions.com, Inc.) filed on Schedule 14A with the Securities and Exchange Commission on November 27, 2009.

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “plans”, “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company’s expectations and estimates. The Company provides no assurances that any potential acquisitions will actually be consummated, or if consummated that such acquisitions will be on terms and conditions anticipated on the date of this press release, and the Company makes no assurances with regard to any results of any such acquisitions.

Keegan Resources Inc. (KGN) Drilling to Commence at Asumura Gold Property

VANCOUVER, BRITISH COLUMBIA–(Marketwire – 03/03/10) – Keegan (TSX:KGN – News)(AMEX:KGN – News) is pleased to announce that drilling is set to commence at its 280 square km Asumura gold property in southwest Ghana in the second half of March. In the past year, Keegan has been integrating all of its recently obtained geophysical and geochemical information in order to develop specific target models that place past prospective intercepts into a coherent model. Keegan plans to drill a minimum 4000 meters of core holes focusing on five primary target areas. Please see www.keeganresources.com for further details of the proposed program.

At Esaase, Keegan currently has two UDR 900 drills operating, one focused on development drilling and the other on exploration. Additional results will be released when available. Keegan would also like to mention that the Esaase deposit Preliminary Economic Assessment (PEA) study is on track and should be released by the end of Q1 2010.

CORPORATE UPDATE:

Keegan is also pleased to announce the appointment of Ben Adoo as Managing Director of its wholly owned Ghana subsidiary, where he will act as Keegan’s Ghana country manager. Ben is a mining engineer who graduated from the Camborne School of Mines in 1971 and completed a masters in engineering at McGill University in 1987. Ben has almost four decades of underground gold and surface bauxite mining experience in Ghana. He was former Managing Director, Ghana Bauxite Co. Ltd., a subsidiary of Alcan Inc., former General Manager of Prestea, Tarkwa and Dukwa Goldfields in Ghana and is a past President and Honorary Member of Council of the Ghana Chamber of Mines. Ben has acted as a representative of Ghana’s mining community on many occasions, including a recent role with the World Bank study on “The Mining Sector and Business Sector Development in Burkina Faso”.

Keegan would also like to announce the resignation of Richard Haslinger, P.Eng. as director of the Company. Mr. Haslinger will be remaining with Keegan and continuing to act as V.P of Exploration. The board would like to thank Mr. Haslinger for his years of service and look forward to the continued relationship.

The board of directors has appointed and welcomes Shawn Wallace as Executive Chairman and director of the company. Mr. Wallace brings over 20 years of mineral exploration, development and corporate experience.

President and CEO, Dan McCoy states: “Keegan is pleased to be recommencing drilling at Asumura. We believe that in addition to targeting the potential extent of mineralization discovered in our last drilling program in the NW structure, we have exciting new drill-ready targets revealed by our recent geophysics and soil auger programs. We also look forward to new exploration results and the completion of our PEA at Esaase. On the personnel front, we are very pleased and proud to welcome Ben Adoo, who has enormous stature in the Ghana mining community and a sterling reputation based on his experience, intellect and integrity. Shawn Wallace is an experienced corporate strategist, and we look forward to having the benefit of his experience of being involved with numerous successful projects in his position as Director and Executive Chairman.”

About Keegan Resources

Keegan is a junior gold company offering investors the opportunity to share ownership in the rapid exploration and development of high quality pure gold assets. The Company is focused on its wholly owned flagship Esaase project (2.025 Moz indicated resources with an average grade of 1.5 g/t Au at a 0.6 g/t Au cutoff and 1.451 million ounces in an inferred category at an average grade of 1.6 g/t Au applying a 0.6 g/t Au cut-off for a total inferred and indicated resource of 3.476 Moz) as well as its Asumura gold project, both of which are located in Ghana, West Africa, a highly favorable and prospective jurisdiction. Managed by highly skilled and successful technical and financial professionals, Keegan is well financed with no debt. Keegan is also strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighboring communities. Keegan trades on the TSX and the NYSE AMEX under the symbol KGN. More information about Keegan is available at www.keeganresources.com.

On Behalf of the Board

Dan McCoy, Ph.D., President & CEO

Forward Looking and other Cautionary Information

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company’s annual Form 20-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Information Concerning Estimates of Measured, Indicated and Inferred Resources This news release also uses the terms ‘indicated resources’ and ‘inferred resources’. Keegan Resources Inc. advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects), the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, ‘inferred resources’ have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for Preliminary Assessment as defined under 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/kgn_0303_map_link.pdf

SinoCoking (SCOK) Commences Construction of New Coking Facility

Mar. 3, 2010 (Business Wire) — SinoCoking Coal and Coke Chemical Industries, Inc. (NASDAQ:SCOK) (the “company” or “SinoCoking”) today announced that it broke ground today on the construction of its new state-of-the-art coking facility in Pingdingshan city, in Henan Province, China. The new coking facility, which will cost an estimated $70 million to complete, is expected to launch production of metallurgical and chemical coke, coal gas, and various chemical products by early 2011. The cleaner, more efficient coking facility will have an anticipated maximum annual production capacity of 900,000 metric tons of coke. SinoCoking management projects that if completed as planned, the launch of the new facility could result in a five-fold or more increase in the company’s annual coke production and sales volume from the fiscal year 2012 and beyond, compared to current levels.

SinoCoking presently relies on its three parallel WG-86 type coke ovens, which have certain technical limitations. SinoCoking’s current facilities have a production capacity of up to 250,000 metric tons per year.

The new coking facility will be capable of utilizing a broader range of coal inputs compared to the company’s existing plant, with even lower thermal properties (a G-index as low as 50). Since the average cost of inputs will decrease, this is expected to enable SinoCoking to produce coke at a better profit margin. The new facility is also expected to generate an additional 66.5 million Kilowatt hours of electricity each year from the conversion of heat emitted from the coal-gas powered system, which is used to power steam generators. The new facility will also produce purified coal gas as a fuel source for use by city residents. These two byproducts alone could result in an additional estimated $43 to $62 million in projected incremental revenue per year for SinoCoking, based on current energy prices and currency translation rates. The company’s plans to provide coal gas to local residents have received approval from the city of Daying, which will involve providing coal gas to consumers at a price per thermal equivalent unit that is 20% less than the current price of liquid natural gas (LNG), a competing alternative. In addition, SinoCoking anticipates that the new coking facility will expand its product portfolio, enabling it to offer its customers other products such as crude benzol, sulfur, and ammonium sulfate.

“We view this as a key step in the implementation of our growth strategy,” said Jianhua Lv, Chairman and Chief Executive Officer of SinoCoking. “Power and fuel scarcity, as well as environmental side effects of industrial growth, are key issues in China today. Our new coking facility project helps to address these issues, and that is why our project is strongly supported by our local and provincial governments. Furthermore, the completion of this project would enable us to produce our coke products with even greater efficiency, and will provide expanded revenue opportunities to SinoCoking. We look forward to the completion of this project, to further solidify our leadership position in the regional market.”

SinoCoking is a supplier of the vital commodities of thermal and metallurgical coal and coke to industrial users such as power plants, steel mills, plant and factory operators and manufacturers in China. The Company is a vertically-integrated processor that uses coal from both its own mines and that of third-party mines to provide basic and value-added coal products to its customer base. SinoCoking began producing metallurgical coke in 2002, and since then has expanded its production to become an important supplier to regional steel producers in central China.

About SinoCoking

SinoCoking Coal and Coke Chemical Industries, Inc., a Florida corporation (NASDAQ: SCOK), is a vertically-integrated coal and coke processor that uses coal from both its own mines and that of third-party mines to produce basic and value-added coal products for steel manufacturers, power generators, and various industrial users. SinoCoking currently has mining rights and capacity to extract 300,000 tons of coal per year from mines located in the Henan Province in central China. SinoCoking has been producing metallurgical coke since 2002, and acts as a key supplier to regional steel producers in central China. SinoCoking, a Florida corporation, owns its assets and conducts its operations through its subsidiaries, Top Favour Limited, a British Virgin Islands holding company; Pingdingshan Hongyuan Energy Science; and Technology Development Co., Ltd. (“Hongyuan”); Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd. (“Hongli”); Baofeng Coking Factory; Baofeng Hongchang Coal Co., Ltd.; and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd.

For further information about SinoCoking, please refer to the Definitive Proxy Statement of the Company (previously named Ableauctions.com, Inc.) filed on Schedule 14A with the Securities and Exchange Commission on November 27, 2009.

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “plans”, “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company’s expectations and estimates. The Company provides no assurances that any potential acquisitions will actually be consummated, or if consummated that such acquisitions will be on terms and conditions anticipated on the date of this press release, and the Company makes no assurances with regard to any results of any such acquisitions.

Novell (NOVL) Confirms Receipt of Unsolicited, Conditional Proposal From Elliott Associates

Mar. 2, 2010 (PR Newswire) —

WALTHAM, Mass., March 2 /PRNewswire-FirstCall/ — Novell, Inc. (Nasdaq: NOVL) today confirmed that it has received an unsolicited, conditional proposal from Elliott Associates, L.P. to acquire the Company for $5.75 per share in cash. Novell anticipates that its Board of Directors will review Elliott’s proposal in consultation with its financial and legal advisors. J.P. Morgan is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to Novell.

About Novell

Novell, Inc. (NASDAQ: NOVL) delivers an interoperable Linux* platform and a portfolio of integrated IT management software designed to help customers around the world reduce cost, complexity and risk. With our infrastructure software and ecosystem of partnerships, Novell harmoniously integrates mixed IT environments, allowing people and technology to work as one. For more information, visit www.novell.com.

Novell and the Novell logo are registered trademarks and SLES is a trademark of Novell, Inc. in the United States and other countries. *All third party marks are the property of their respective owners.