Thursday, May 15, 2008

Insurance: ACE Insurance receives Royal Decree to to set up Saudi Insurance Co

Manama, Bahrain (BUSINESS WIRE) - The ACE Group of Insurance and Reinsurance Companies (NYSE:ACE) has announced that, together with its Saudi Arabian partner organisation, the Elkhereiji Group, it has received a Royal Decree authorising the establishment of a new domestic insurance entity - ACE Arabia Cooperative Insurance Company.

"This is a very significant step in the process set out in the insurance law of 2005," said Giles Ward, Regional Managing Director for ACE in the Middle East and North Africa. "It provides reassurance to our customers and staff that the Saudi authorities have confidence in our business plans and allows us to progress the formation of the company".

ACE has had a presence in the Saudi Arabian market in partnership with the Elkhereiji Group for over 30 years.

ACE The ACE Group of Companies is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acelimited.com

ACE Group
Media Contact:Katie Weeks, Corporate Communications
Tel: + 44 (0) 20 7173 7585 katie.weeks@ace-ina.com

Technology: Acrodea, Sony Ericsson enter into master license agreement

Acrodea, Sony Ericsson enter into master license agreement for global handset models-mobile telephone handsets to be installed with Acrodea products

Tokyo - Kyodo JBN-AsiaNet/ - Acrodea, Inc. (CEO and President: Junya Tsutsumi), headquartered in Meguro-ku, Tokyo, and Sony Ericsson Mobile Communications (London UK, President:Hideki Komiyama, "Sony Ericsson") reached an agreement for Acrodea to provide VIVID UI and VIVID Panorama to Sony Ericsson mobile telephones and executed a master license agreement. Based on the agreement, Sony Ericsson will be able to release globally mobile telephone terminals installed with Acrodea products.

About VIVID UI

VIVID UI is a user interface platform developed by Acrodea for mobile phones, and represents innovative middleware that can integrate various types of multimedia content, such as still pictures, 3D graphics, animation effects, and video.
VIVID UI enables mobile phones that can be readily customized with graphically enhanced menus and standby screens. The VIVID UI authoring tool incorporates features for creating menu transitions through a visual context, as well as for menu content emulation. By using this tool, handset manufacturers and content providers can easily create compatible content with a wealth of expression.

About VIVID Panorama

Jointly developed by Acrodea and Morpho, Inc. (CEO and President: Masaki Hilaga), headquartered in Bunkyo-ku, Tokyo, VIVID Panorama consists of middleware for camera functionality. VIVID Panorama permits the user to create panorama photos (images extended in one direction for a wider or taller viewing angle than ordinary photos) easily by operating the mobile handset with a built-in digital camera like a camcorder and panning the desired range.

Although previous handsets have been equipped with panoramic photography functions, the "panorama-like" photo involved stitching together each, individually taken photo. The panoramic image-generating technology of VIVID Panorama is fully automated on the basis of the video data captured. The process is rapid and completed in real time. Users may immediately preview the panorama photo taken. This convenience is an additional feature of VIVID Panorama.

About Acrodea, Inc.

Acrodea, Inc., headquartered in Tokyo, Japan, is a software technology R&D firm involved in middleware technology for mobile terminals. The company is particularly focused on interface technologies connecting between the user and terminal, and currently provides UI (user interface) technologies and email enhancement technologies to the market.
We are also applying R&D energy towards the enhancement of graphics performance, which is indispensable in facilitating usage of mobile platform interfaces.

Our stance and efforts are a continual commitment to superior products and improving technology, for which we have received recognition worldwide. In addition to Japan and Korea, Acrodea is engaged in business on the global market, including China, Europe, and North America. The company listed publicly on Mothers Exchange of TSE on Oct. 19, 2006, just two years and three months after establishment in July 2004.

Acrodea is headquartered in Tokyo, and maintains an overseas presence in Seoul, Korea; Helsinki, Finland; and Newport Beach,
California, U.S.A. For more information, please visit http://www.acrodea.co.jp.

About Morpho, Inc.

Morpho, Inc., is a venture company founded in 2004 by engineers who are graduated from Tokyo University and dedicated to digital image processing technologies. The company is engaged in R&D and product development based on proprietary image processing technologies for digital imaging and the video industry. Specialization chiefly towards mobile telephones and
digital cameras comprises embedded image processing software, such as manual jitter correction, application development, licensing, and consulting. More information about Morpho Inc. is available at http://www.morphoinc.com.

* Company names and product names described above are either registered trademarks or trademarks of the holders.

For inquiries about this press release, please contact the following: Marketing at Acrodea, Inc.
TEL:+81-3-5768-8603
SOURCE: Acrodea, Inc.
CONTACT: Mao Ueda Marketing Group Marketing Department Acrodea, Inc.
Phone: +81-3-5768-8603 Fax: +81-3-5768-8601 E-mail: products@acrodea.co.jp
URL: http://www.acrodea.co.jp

Business: Canadian Consultancy merges with world leader

Wellington - NZPA-AsiaNet / - Fredericton based engineering consultancy, Project Engineering Ltd has merged with publically listed global infrastructure consultancy, Opus International Consultants Ltd, a world leader in transportation asset management.

Announcing this today from Wellington, New Zealand, Opus Chief Executive and Managing Director, Dr Kevin Thompson said that the purchase of the Canadian company, Project Engineering, will bring their total number of staff in North America to 74 and help them to further establish themselves in this important and expanding market.

"We presently have offices in Vancouver, Victoria, Kelowna, Calgary and Fredericton, along with an office in Detroit (USA) to service our clients needs in innovative engineering solutions, particularly in the areas of transportation asset development and asset management," said Dr Thompson.

"By adding Project Engineerings particular expertise to our own will give us an additional capability, particularly in the water sector. They also provide services to municipalities and private developers in the areas of civil, municipal, transportation and environmental engineering."

"We see this opportunity as providing a platform for us to further expand here in Canada. It will allow us to leverage off the business contacts established by Project Engineering over the last 21 years in the Atlantic provinces of Canada."

Opus is managed in Canada from its offices in Vancouver and Fredericton, with a total staff number of 74. In Canada its clients include the British Columbia Ministry of Transportation, the Ontario Ministry of Public Infrastructure, the New Brunswick Department of Transportation, the Newfoundland and Labrador Department of Transportation and Works, the Insurance Corporation of British Columbia, Alberta Infrastructure and Transportation and the US Federal Highway Administration. Recent transportation projects have included the Trans-Canada Highway, Kicking Horse Canyon, and the Sea to Sky Highway between Vancouver and Whistler, site of the 2010 Winter Olympics.

Opus was presented with Canadian industry awards last year for their work associated with the Sea to Sky Highway and for a project on the study of 10 highway bridges in British Columbia.

In addition to the offices in Canada, Opus has 36 offices in New Zealand, 21 offices in Australia and 17 in the UK, where it also has a reputation in transportation development, asset management, building design and environmental engineering.

SOURCE: Opus International Consultants Ltd
For further information please contact: Dr Kevin Thompson
Chief Executive & Managing Director Opus International
Consultants Ltd Wellington, New Zealand Tel: +64 04 471 7022
or Dwight Hawkins President Opus International Consultants
(Canada) Ltd Fredericton, New Brunswick, Canada Tel: +(506) 451
0056
Released by: Richard Silcock Corporate Communications
Manager Opus International Consultants Wellington, New Zealand
DDI: +64 04 471 7047

High-Tech: Mtron rocks again, the fastest 130MB/s SATA II SSD

Mtron rocks again, the fastest 130MB/s SATA II SSD one more time, Mtron SSD PRO 7500 series will hit the SSD market

Seoul, South Korea (BUSINESS WIRE) - Mtron Co., Ltd (KOSDAQ:046320), a manufacturer of Solid State Drive (SSD) products in South Korea, announced today that they have completed the development of new PRO 7500 series for industrial purpose, and will be launching the new series in June.Mtron's new PRO 7500 series supports SATA II interface and provide the maximum read speed of 130MB/s and write speed of 120MB/s, becoming the fastest SSD in the market. With the development of their new PRO 7500 series, Mtron created another innovation to the SSD technology and proved once again that they are the leading manufacturer of SSD products in the highly competitive market.

Mtron's new PRO 7500 series is targeted for enterprise market to provide servers and storages with 1020% improved performance from Mtron's SATA I SSD.

It includes Random Read IOPS (Data input/output speed) of 19,000, a speed that is 65 times faster than current industrial purpose SAS HDD, in order to deliver much-improved performance in the situations with heavy volume transactions. Also, it consumes 60% less electricity than HDD, has maximum energy efficiency with no noise and less heat, and contributes to environmental-friendly green IT technology.

Mtron will be producing their new PRO 7500 series with 32 GB  128 GB capacities in 2.5 inch and 3.5 inch sizes.

In addition to their announcement, Mtron will be exhibiting their new PRO 7500 series at ?DS Expo/10th Data Storage Expo in Tokyo' from May 14thto 16th, and ?CeBIT Australia 2008' in Australia from May 20th to 22nd.

ABOUT Mtron Storage Technology (KOSDAQ:046320) Established in 2005, Mtron is the pioneer in Flash memory solution world with their technology in storage, server systems, and security systems.

With its focus on R&D and market research, Mtron will continue to lead the way in SSD technology in order to improve SSD industry around the world and provide the consumers with the best SSD solution. For more information, please visit www.mtron.net.

Mtron Zeta Park, +82.31.737.4820 ext. 304pej@mtron.net

Telecommunications: LiMo Foundation(TM) expands with new members

LiMo Foundation(TM) expands in breadth and depth With further swell of new members
Diversity of newest membership intake illustrates powerful momentum within the LiMo ecosystem

London & Tokyo (BUSINESS WIRE) - LiMo Foundation, a global consortium of mobile leaders delivering an open handset platform for the whole mobile industry, announced today the addition of Infineon Technologies, Kvaleberg AS, Mozilla Corporation, Red Bend Software, Sagem Mobiles, SFR, SK Telecom and Verizon Wireless as new member companies. Expanding LiMo's membership to 40 since the foundation's launch in January 2007, these companies join with existing LiMo members to collaborate on the LiMo Platform??the world's first globally competitive, Linux-based software platform for mobile devices.

"This latest group of new members demonstrates the rapidly expanding reach of the LiMo ecosystem, and we are very excited by their commitment to further enrich the LiMo Platform and accelerate its adoption within all markets," said Morgan Gillis, executive director of LiMo Foundation. "It is now clear that LiMo's transparent and participative governance model and total focus on the handset operating system?which are designed to avoid value-chain distortion?are proving to be very attractive to the whole industry.""LiMo Foundation has made impressive inroads across the mobile ecosystem and has acquired a varied and truly global footprint. As OEMs and operators seek to gain technical and business efficiencies by consolidating the number of handset platforms, there is now no doubt that LiMo-powered devices will comprise a significant percentage of many operators' portfolios," added Stuart Carlaw, vice president and research director, mobile wireless with ABI Research. "This bodes well for consumers, operators and application developers, who all stand to benefit from industry unification and contribution to a lower-cost Mobile Linux platform."

LiMo's unique governance model brings together a broad set of competing companies in a transparent, collegial and trust-based environment. Members specify and contribute valuable, market-tested intellectual property toward LiMo's middleware platform for mobile handsets.

"The diversity of the global mobile ecosystem is exploding, and this is evidenced in the new class of LiMo members, which spans providers of Internet and wireless services, consumer and enterprise software, electronics and mobile phones," said Kiyohito Nagata of NTT DoCoMo, chairperson of LiMo Foundation.
"Convergence is a fact of the maturing mobile marketplace today, and business models are evolving rapidly to capitalize on emerging trends and revenue opportunities?LiMo's membership base reflects and is accelerating these shifts in the mobile industry."

Launched in January 2007 by six mobile industry leaders -- Motorola, NEC, NTT DoCoMo, Panasonic Mobile Communications, Samsung Electronics and Vodafone -- LiMo was formed to deliver an open and globally consistent software platform based upon Mobile Linux for use by the whole industry to catalyze next-generation mobile consumer experiences. LiMo Foundation is open to all vendors and service providers in the mobile communications marketplace, including device manufacturers, operators, chipset manufacturers, integrators and independent software vendors. LiMo members are participating collectively to building a rich ecosystem and have the ability to influence the evolution of the LiMo Platform, leaving them free to provide compelling and differentiated services to customers.

About LiMo Foundation

LiMo Foundation is a dedicated consortium of mobile industry leaders working together within an open and transparent governance model with shared leadership and shared decision making to deliver an open and globally consistent handset software platform based upon Mobile Linux for use by the whole mobile industry. A full description of LiMo, including its vision, goals, charter, guiding principles, bylaws and membership information, can be found at www.limofoundation.org.

Additional Supporting Quotes

Infineon Technologies
"Infineon welcomes the activities of the LiMo Foundation to bring consolidation to the Mobile Linux world," said Dominik Bilo, Senior Vice President and head of Sales and Group Marketing of the Communication Solutions business group with Infineon. "With our low-cost HSDPA modem and dual-core EDGE platform, Infineon is looking forward to enable Linux on low-cost mobile phones and, thereby, bringing LiMo to the mass market."

Kvaleberg AS
"We believe LiMo clearly represents the future of Linux mobile," said Michael J. Orr, SVP Business Development with Kvaleberg AS. "LiMo will help us further expand the reach of our product Mimiria and enable our customers to bring new, innovative products to market quickly. We really look forward to participating in, and contributing to, the LiMo Foundation."

Mozilla Corporation
"Mozilla strives to promote an open, accessible and secure Web experience. We believe the LiMo ecosystem affords significant opportunity for us to further that mission in a mobile environment," said Jay Sullivan, Senior Director of Mobile, Mozilla Corporation. "We look forward to playing a key role in shaping the Web experience for users of the next generation of Linux-based mobile phones and devices."

Red Bend Software
"By joining the LiMo Foundation, Red Bend is becoming part of an exciting movement to advance the development of mass-market, open-source mobile phones," said Morten Grauballe, EVP of MSM Platforms for Red Bend Software. "We are confident that Red Bend's experience and best practices in Linux and more than 40 other mobile platforms will help operators and manufacturers offer a rich mobile user experience by delivering the latest software improvements directly to LiMo handsets."

SK Telecom
"Joining LiMo Foundation will help our company bring new, innovative products to market more quickly and drive Mobile Linux innovation," said Sung Cheol Hong, CTO of SK Telecom Co., Ltd. "LiMo has unified the mobile industry's most important players in accelerating the realization of the next-generation mobile consumer experience, and our company is excited to be
part of this work."

Interprose PR
for LiMo FoundationVivian Kelly, +1 703.860.9453 Mobile: +1
703.509.5412 viviankelly (at) interprosepr.com

Telecommunications: Verizon joins LiMo Foundation

Verizon joins LiMo Foundation(TM) with Verizon on board of directors, LiMo expands major wireless service provider engagement across North America, Asia and Europe

London & Tokyo & Basking Ridge, N.J. (BUSINESS WIRE) - LiMo Foundation, a global consortium of mobile leaders delivering an open handset platform for the whole mobile industry, and Verizon Wireless, the builder and operator of the most reliable wireless network in the U.S., announced today that Verizon has joined LiMo as a Core member and will fill the final seat on LiMo's board of directors. By participating in LiMo, Verizon hopes to help LiMo unify the mobile industry around openness and Linux as the key enablers to lowering development costs.

"Verizon Wireless is demonstrating itself a champion of openness in mobile innovation by joining the board of LiMo Foundation," said Morgan Gillis, executive director of LiMo Foundation. "Major wireless service providers from across North America, Asia and Europe are now engaged in committed collaboration through LiMo. This offers further concrete evidence that LiMo is positioned at the heart of the rapidly emerging, industry-wide trend to secure the benefits of openness and choice in technology."

"Verizon Wireless is committed and invested in encouraging innovation, providing developers the opportunity to deliver new wireless choices and expanding the mobile market," said Kyle Malady, vice president of network for Verizon. "We expect our involvement with LiMo to advance these principles."

LiMo Foundation is open to all vendors and service providers in the mobile communications marketplace, including device manufacturers, operators, chipset manufacturers, integrators and independent software vendors. Verizon Wireless joins the foundation's other 39 members in working within LiMo's transparent governance model to shape the evolution of the LiMo Platform?, while remaining entirely free to deliver their own compelling and differentiated services to mobile customers.

"The addition of Verizon Wireless to the LiMo roster is another critical milestone in our foundation's rapid growth and market impact," said Kiyohito Nagata of NTT DoCoMo, chairperson of LiMo Foundation. "In technical output, governance constructs and business models, LiMo lives out its belief that openness is the key to unlocking innovation to the benefit of the whole industry and mobile consumers everywhere."

Launched in January 2007 by six mobile industry leaders?Motorola, NEC, NTT DoCoMo, Panasonic Mobile Communications, Samsung Electronics and Vodafone?LiMo was formed to deliver an open and globally consistent software platform based upon Mobile Linux for use by the whole industry to catalyze next-generation mobile consumer experiences.

About LiMo Foundation

LiMo Foundation is a dedicated consortium of mobile industry leaders working together within an open and transparent governance model with shared leadership and shared decision making to deliver an open and globally consistent handset software platform based upon Mobile Linux for use by the whole mobile industry. A full description of LiMo, including its vision, goals, charter, guiding principles, bylaws, and membership information, can be found at www.limofoundation.org.

About Verizon Wireless

Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 67.2 million customers. Headquartered in Basking Ridge, N.J., with 69,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). For more information, go to: www.verizonwireless.com.

To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.

Interprose PR for LiMo Foundation
Media:Vivian Kelly, +1 703-860-0577 or M: +1 703-509-5412
viviankelly@interprosepr.com
or Verizon Wireless
Jeffrey Nelson, +1 908-559-7519
jeffrey.nelson@verizonwireless.com

Business: Ritchie Bros. adds 2nd day to Brisbane crane, truck auction

Entire crane and truck fleet of the Skelton Group to be sold at Ritchie Bros.' first two-day Australian auction

Brisbane - CNW-AsiaNet/ - For the first time ever, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) - the world's largest industrial auctioneer - has added a second day to one of its Australian auctions.

The unreserved public auction will be conducted at the Company's permanent auction site in Brisbane on June 24 & 25, 2008. The auction was extended to accommodate the large number of crane, truck and heavy equipment items consigned by the Skelton Group, Howard Haulage and other owners: over 540 items so far, with more equipment being added right up until auction day. The auction will be open to the public and strictly unreserved, with no minimum bids or reserve prices. Every item will be sold to the highest bidder on auction day, regardless of price.

"We've been conducting unreserved equipment auctions in Australia since 1990 - but this will be our first ever two-day auction," said Simon Ross, Ritchie Bros. Regional Manager.
"We're selling an exceptional lineup of equipment at our upcoming public auction, including a large selection of late-model cranes, prime movers and earthmoving equipment, and we're selling everything unreserved - meaning there will be no minimum bids and no reserve prices. This is a fantastic opportunity for interested truck and equipment buyers."

Skelton Trucking and Skelton Vertical Transport will sell its entire crane and truck fleet at the unreserved auction as part of a major company realignment that allows Skelton Tomkinson to expand its terminal and freight forwarding operations, both in Australia and internationally.

A total of almost 150 transportation and heavy equipment items will be sold from the Skelton fleet.

Among the equipment being sold for Skelton's: close to 40 prime movers (truck tractors), including six 2007 Western Star and one 2007 Kenworth; more than 50 low loaders (lowboys); and nine late-model cranes:

- Two 2007 Manitowoc M12000 120-ton crawler cranes
- One 2007 and one 2006 Grove GMK4080 80-ton all terrain crane
- 2004 Grove GMK5100 100-ton all terrain crane
- 2004 Grove GMK3055 55-ton all terrain crane
- 2006 Franna MAC25 25-ton crane
- 2004 Franna AT20 20-ton crane
- 2004 Tadano GT550 hydraulic truck crane

The auction also features a large selection of equipment for the construction, earthmoving, transportation, mining and other industries, such as late model wheel loaders and excavators, articulated dump trucks and crawler tractors, including a 2007 Cat D8T and two 2007 Cat D7R.

NSW-based Howard Haulage will sell more than 100 transportation lots at the auction, including prime movers and trailers, as part of a complete business dispersal.

The unreserved public auction starts at 8 a.m. on Tuesday, June 24 and Wednesday, June 25, 2008 at the Ritchie Bros. Brisbane auction site (cnr. Burnside Rd. and Pacific Highway, Yatala, QLD). The auction is open to the public. Registration to bid is free. Interested buyers who are unable to bid in person can register to bid over the internet, live and in real time, using Ritchie Bros.' internet bidding service, rbauctionBid-Live.

Bidders are able to attend the free, public auction on-site or online and can feel confident that every item will sell on auction day and that their time won't be wasted.

At Ritchie Bros. unreserved auctions, buyers are guaranteed that there are never any hidden reserves or the other worries of traditional or discount online-only auctions. And consignors are given the assurance that all their items will sell on auction day so they can move on with their business, without any unsold equipment left behind.

More information about the auction, including photos and details of the equipment being sold, can be found on the Ritchie Bros. web site at www.rbauction.com. Interested buyers can also visit the Ritchie Bros. Brisbane auction site to inspect and test the equipment in person prior to the auction.

Anyone interested in selling trucks or equipment in the June 24 & 25 auction can contact the Ritchie Bros. Brisbane auction site at +61.7.3382.4444.

Ritchie Bros. is also conducting a large unreserved auction at its Melbourne auction site on Friday, June 27, 2008. Almost 200 construction and transportation equipment items will be sold to the highest bidders on auction day. For more information, contact the Ritchie Bros. Melbourne auction site at +61.3.9369.7322.

About Ritchie Bros.

Established in 1958, Ritchie Bros. is the world's largest auctioneer of industrial equipment, operating through over 110 locations in more than 25 countries around the world. The Company sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries. The Company maintains a web site at www.rbauction.com.

SOURCE: Ritchie Bros. Auctioneers Pty. Ltd. (Australia)
CONTACT:
Simon Ross, Regional Manager, Ritchie Bros.
Auctioneers, Gold Coast auction site, tel: +61.7.3382.4444;
Or Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers, Canadian tel: +604 788-5379 or email:
kschulz(at)rbauction.com

Business: Hilco Consumer Capital, L.P. & GB Brands, LLC win bid

Hilco Consumer Capital, L.P. and GB Brands, LLC win stalking horse bid for The Sharper Image

Toronto - CNW-AsiaNet/ - A joint venture led by Hilco Consumer Capital, L.P. ("HCC") and GB Brands, LLC ("GBB"), in partnership with Windsong Brands, LLC and Crystal Capital, announced today that it was approved as the stalking horse bidder for certain assets of The Sharper Image Corporation.

HCC and GBB have developed a global licensing strategy for wholesale, retail, direct-to-retail (DTR), e-commerce and catalog businesses which will exploit The Sharper Image's heritage of quality, excitement, innovation and fun.

During its 32-year history, The Sharper Image has developed one of America's most widely recognized and positively perceived consumer brands. HCC and GBB recognize The Sharper Image's blend of upscale specialty positioning, iconic stature, outstanding consumer recognition and appeal across a wide demographic.

Jamie Salter, CEO of HCC, commented, "The Sharper Image's brand versatility encompasses a vast array of products which demonstrates the powerful and consistent brand attributes of quality, excitement, innovation and fun."

He added, "Whether it is electronics, housewares, health and fitness or unique gifts in personal care or travel, The Sharper Image brand delivers on all of the brand's attributes."

Stephen Miller of GBB continued, "GBB envisions this to be a terrific opportunity to transform a tier-one, iconic American brand into a global, multi-channel platform of diverse and unique consumer products using leading technologies and trend-setting innovations. This reflects the core transformational competencies of the joint venture partners and we look forward to working with new licensees to grow the brand worldwide and in multiple categories."

The joint venture will partner with a number of global institutions in the ongoing development of The Sharper Image brand.

Interested parties should contact: John Collins at HCC: jcollins(at)hilcocc.com
or 416-682-5680 Brad Snyder at GBB:
bsnyder(at)gordonbrothers.com
or 617-422-6216 Bill Sweedler at Windsong Brands:
bsweedler(at)windsongbrands.com
or 203-319-3600

About Hilco Consumer Capital:

Hilco Consumer Capital (www.hilcocc.com) is a private equity firm that makes strategic investments in consumer lifestyle brands through acquisitions of North American manufacturers, wholesalers, intellectual property and retailers. HCC investments range from $25 million to $250 million. Current portfolio brands and companies include Caribbean Joe(R), Ellen Tracy, Halston(R), Tommy Armour Golf(R), RAM Golf(R), and Bombay Brands, LLC. HCC is a unit of The Hilco Organization, a Chicago-based, international provider of diversified financial and operational services, including business asset valuations, asset acquisition and disposition services, M&A services and retail consulting.

About GB Brands, LLC:

GB Brands, LLC is a member of the Gordon Brothers Group family of companies. GB Brands LLC purchases, sells, and licenses brands and other intellectual property.

Founded in 1903, Gordon Brothers Group (www.GordonBrothers.com) is a global advisory, restructuring and investment firm specializing in retail and consumer products, industrial and real estate sectors. Gordon Brothers Group maximizes value for both healthy and distressed companies by purchasing or selling all categories of assets, appraising assets, providing debt financing, making private equity investments, and operating businesses for extended periods.
Gordon Brothers Group conducts over $40 billion in annual transactions and appraisals.

Its private equity fund, 1903 Equity Fund, holds majority or minority positions in a portfolio of companies including Como Fred David, Clair de Lune, Deb Shops, Dollarama, Grafton-Fraser, Laura Secord, Things Remembered and Toys R Us.

About Windsong Brands LLC:

Windsong Brands, LLC (www.windsongbrands.com ) is a private equity firm that focuses on investments in leading middle market consumer companies that own strong recognizable brands. The team has a diverse background of consumer expertise that assists and guides company management to unlock the true potential of their brand. Windsong Brands makes majority and minority investments in both public and private companies. Investments and portfolio brand companies include Ellen Tracy, Caribbean Joe, Joe's Jeans, Field & Stream, Como Sport, and Alerion Aviation.

About Crystal Capital:

Established by a team of experienced financial professionals, Crystal Capital is an investment firm that provides capital for middle market companies across all industries. The founding principals each have over 25 years of experience and have provided in excess of $15 billion in creative capital commitments for buyouts, recapitalizations, refinancings and growth opportunities.

SOURCE: Hilco Consumer Capital LLC
CONTACT: John Collins at HCC: jcollins(at)hilcocc.com or
+416 682-5680; Brad Snyder at GBB:
bsnyder(at)gordonbrothers.com or +617 422-6216; Bill Sweedler
at Windsong Brands: bsweedler(at)windsongbrands.com or
+203319-3600

Medical/Technology: New treatment for chronic pain

Melbourne - Medianet International-AsiaNet/ - A revolutionary new treatment for chronic back pain, that could be used to treat all severe pain, will be presented at a world leading surgical Congress in Hong Kong today.

Dr Bruce Mitchell from Melbourne will tell surgeons that the implantable device, that is activated by a remote control the size of a mobile phone, is giving great results.

Chronic back pain has traditionally been a very difficult condition to treat and most people will suffer from it once in a lifetime, but now we think we have got the answer to treat it.

Dr Mitchell is presenting his results at the conjoint Annual Scientific Congress, titled Achievement through Collaboration of the Royal Australasian College of Surgeons with the College of Surgeons in Hong Kong.

The doctors at Metro Spinal Clinic conducted the 12 month trial into implanting tubular electrodes under the skin within the major area of pain in the lower back, with a remote control the size of a phone generating a pulse in the implant that stops the pain.

The treatment is known as peripheral nerve simulation and we have demonstrated that is not only safe, minimally invasive but it is also easily reversable

There was a 70 per cent positive response to the trial and went onto implant of the device. Of those with the implant, 88 per cent said that there was a significant reduction in pain.

This is a very encouraging result as it is an area that is notoriously difficult to treat and surgery is often not the answer and sometimes makes it worse.

People with chronic back pain often have sleepless nights and miss hours of work, as sitting or lying down for long periods of times is one of the worst things you can do. It has been estimated that one in five people will suffer from the condition sometime in their lifetime.

One of the other results of the trial is that we may be able to use if for people who have other areas of chronic pain, and who have exhausted all other conventional treatment options.

For more information call: Fiona Gillies, RACS Media & PR Manager on +61 407 339 556 or +852 2132 4886 Ruth Charters,
RACS Media & PR Officer on +852 9767 1350 OR +852 2132 4885
Source: Royal Australasian College of Surgeons

Technology: IMS client success stories showcased at IMS Asia 2008

IMS Client Success Stories Showcased at IMS Asia 2008 Presentation - Combining IMS Communication Services with Existing Communities - Features Movial Communicator Customer Implementations

Singapore (BUSINESS WIRE) - IMS Asia 2008 - Movial, the company that inspires rich, intuitive Internet experiences, today announced that several of its successful customer applications using Movial Communicator PC and Mobile client software, including FarEasTone (FET), the leading GSM WCDMAmobile phone operator in Taiwan, and an Orange portfolio operator in Europe, will be featured in the IMS Asia 2008 presentation "Combining IMS Communication Services with Existing Communities".

IMS Asia 2008 is being held at the Orchard Grand Hyatt Hotel in Singapore, May 14-15, 2008.

The presentation takes place on Thursday morning, May 15 at 9:45 and will focus on how the new generations, like Generation C -- the demanding end-users familiar with mobile and Internet community services -- are challenging traditional communication services, and how they can be better served.

Antti Pellinen, renowned IMS expert and Managing Partner at Tikura, a company providing expertise in business development and management of new product, concept and business model development, strategy formation, development and mobile communications, will present case study examples of successful launches using Movial's applications to deliver mobile-PC IMS services.

He will offer insight into combining IMS communication services with Internet community services. Examples being presented include FET's success in launching converged VoIP (Voice over IP) over HSDPA (High-Speed Data Packet Access) on PC and mobile devices using Movial Communicator to bridge the PC and mobile worlds, and a European operator's mass market IP Communication PC service, powered by Movial Communicator.

The common theme in each case study is how each operator was able to successfully create new opportunities to attract new subscribers and offer existing subscribers additional value-added services.

Device manufacturers, network equipment vendors and service providers are continuously searching to provide end-users with compelling converged IP-based services across the mobile and fixed domain. These services need to provide end-users with a great user experience as well as leverage IP and IMS infrastructure investments and provide revenue-generating opportunities. Movial Communicator provides a rapid launch of these rich communication services to increase the revenue potential, reduce churn and greatly enhance the end-user experience.

More than 15 operators around the world rely on Movial's unified communications solutions to revolutionize the ways people communicate as do leading device manufacturers, HP, Orange and Jabber Inc. Movial customers and partners include Orange, FarEasTone, Telefonica, Texas Instruments, Samsung and Ericsson.

About Movial

Movial inspires rich, intuitive Internet experiences for companies embracing transformational technologies. Leveraging its deep expertise in Internet, Linux and mobile devices, Movial seamlessly enables its customers to deliver richer user experiences to millions of people on PCs and on mobile devices.
Movial's device creation, Internet communications applications and design for digital services are generating revenue for industry leaders like ARM, Nokia, Orange, Telefnica, and FarEasTone.

By delivering highly intuitive and compelling user experiences, Movial has become the trusted source for enriching the way people interact everyday. For more information, visit http://www.movial.com.

Abelson Group For Movial Ilona Mohacsi, +1 631.764.3729
ilona@abelsongroup.com
or Patrick Farrell, +1 917.331.2166 patrick@abelsongroup.com

Health/Medical: International Diabetes Federation supports diabetes program in Vietnam

International Diabetes Federation grant supports diabetes screening and prevention program in Vietnam

Brussel and Hanoi (ANTARA News/PRNewswire-AsiaNet) - The International Diabetes Federation (IDF) BRIDGES translational research grant program will fund a pilot study in Vietnam to increase opportunities for screenings for people at high-risk for getting type 2 diabetes and promote a program designed to motivate people to develop a healthy lifestyle.

The National Hospital of Endocrinology (NHOE) will launch the study in Vinh City, Vietnam. Using diabetes risks questionnaires[1], the investigators hope to identify people aged 30 to 64 who are at high risk for pre-diabetes and diabetes. The screenings will be coupled with community awareness and healthy living programs.

According to the International Diabetes Federation's Diabetes Atlas, roughly 1.3 million people in Vietnam have diabetes while another 1.1 million are at high risk for developing type 2 diabetes. Within 20 years, the numbers will rise dramatically. By then, it is expected that 2.5 million Vietnamese will have diabetes with another 1.9 million at increased risk for getting the disease.[2]

People found to be at risk for diabetes will be taught to modify their lifestyles - eating, exercise, and regular check-ups - during three months of educational sessions. The study plans to evaluate all the factors and prove that it is an effective way to prevent diabetes in urban areas in Vietnam.

"Healthy lifestyle has been proven to the most efficacious measure to prevent type 2 diabetes. It is crucial that healthy lifestyle is adopted by people at risk of the disease which is increasing on an epidemic scale globally, particularly in developing countries like Vietnam," said Prof. Ta Van Binh, Director of the National Hospital of Endocrinology, National Institute of Diabetes and Metabolic Control.

Binh added, "this project is the best opportunity for our institution to raise awareness of diabetes prevention and convince our community that type 2 diabetes can be prevented by healthy lifestyle."

The International Diabetes Federation, through BRIDGES, is committed to converting research findings into useful practices for the provision of quality care and services delivered by healthcare providers. The diabetes screening and prevention
program in Vietnam, along with the 10 other selected translational research projects, was chosen because of its innovation, demonstration of the potential for health care cost savings, sustainability plans and the opportunity for its results to be widely replicated in other settings.

"With over 250 million people around the world with diabetes, the disease is now a global epidemic. The National Hospital of Endocrinology's study to screen, diagnose and educate people is an important step in the fight against diabetes in Vietnam," said Dr. Linda Siminerio, Chair of the IDF BRIDGES Review Committee. "This epidemic can be reversed if we all act now."

The International Diabetes Federation independently manages the BRIDGES program with an educational grant from Eli Lilly and Company and is committed to promoting diabetes care, prevention and a cure worldwide.

Note to Editors:
The International Diabetes Federation (IDF) is the global advocate for the over 250 million people with diabetes worldwide. It represents over 200 diabetes associations in more than 160 countries. Its mission is to promote diabetes care, prevention and a cure worldwide. The International Diabetes Federation is an NGO in official relations with the World Health Organization and an associated NGO with the United Nations Department of Public Information. The International Diabetes Federation leads the World Diabetes Day campaign. Additional information is available at http://www.idf.org.

BRIDGES is the global translational grant programme of the International Diabetes Federation. It solicits proposals that support cost effective and sustainable interventions that can be adopted in real world settings, for the prevention and
control of diabetes. Projects should be based on interventions already proven to be effective in trials to prevent and treat diabetes, to improve care of type 1 and type 2 diabetes and delay its complications. The interventions proposed should have the potential to be widely disseminated to clinical practice, individuals and communities. For more information, visit http://www.idfbridges.org.

The National Hospital of Endocrinology (NHOE) was founded in 1969 in Hanoi City. As the leading hospital in endocrinology in Vietnam, its mission includes specialized care in endocrinology for patients with endocrine diseases; technical assistance in clinical endocrinology for other health institutions throughout Vietnam; prevention of endocrinology diseases nationally; and research and training of help professionals in endocrinology.

---------------------------------
[1] Based on the screening and diagnosis recommendations in the International Diabetes Federation's Global Guideline for Type 2 Diabetes, 2005.
[2] Diabetes Atlas, International Diabetes Federation, 2006.

Media Contacts:
International Diabetes Federation, Kerrita McClaughlyn,
Media Relations Manager, Email: media@idf.org Tel: +32-2-5431639; Mobile: +32-487-530-625.
National Hospital of Endocrinology, Dr. Ta Van Binh,
Director, Tel: +84-4-8533527 ext 207

COPYRIGHT © 2008

Business: BASF SE to make tender offer for BASF India

Mumbai, (ANTARA News/PRNewswire-AsiaNet) - BASF SE today announced that it intends to raise its shareholding in BASF India Ltd. from currently 52.69 per cent to a maximum of 75 per cent through a public tender offer to BASF India Ltd.'s public shareholders.

BASF SE's offer is INR274 per share in cash or INR1,723 million in total.

This price represents a premium of 22 per cent above the average daily high and low price during the two weeks preceding this announcement and a premium of 16 per cent above the minimum price of INR236.70 directed by the Securities and Exchange Board of India (SEBI).

The public announcement of the offer was made on May 15, 2008 and BASF SE will file the draft Letter of Offer with SEBI shortly.

According to the public announcement, the offer will begin on July 9, 2008 and shareholders have until July 28, 2008 to tender their stock.

The offer schedule, however, is subject to change depending on the time taken for SEBI's regulatory process.

BASF plans to extend its market position in the growing Indian chemical sector.

To this extent, a larger shareholding in BASF India Ltd. will support its efforts in developing the businesses effectively.

BASF India Ltd. is traded on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

BASF India Ltd. posted sales of INR10,569 million in its business year ended March 31, 2008. The main chemical markets for BASF in India are agrochemicals, plastics, leather, coatings and textile chemicals.

About BASF

BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from oil and gas to chemicals, plastics, performance products, agricultural products and fine chemicals. As a reliable partner BASF helps its customers in virtually all industries to be more successful.

With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF has more than 95,000 employees and posted sales of almost 58 billion euros in 2007.

Further information on BASF is available on the Internet at www.basf.com

Michael Grabicki
Corporate Media Relations
Phone: +49 621 60-99938
Fax: +49 621 60-92693
michael.grabicki@basf.com
Anke Schmidt
Communications Asia Pacific
Phone: +49 852 2731-3764
Fax: +49 852 2731-5645
anke.schmidt@basf.com

SOURCE: BASF SE
CONTACT: Michael Grabicki,
Corporate Media Relations,
+49 621 60-99938,
Fax: +49 621 60-92693,
michael.grabicki@basf.com,
Anke Schmidt,
Communications Asia Pacific,
+49 852 2731-3764,
Fax: +49 852 2731-5645,
anke.schmidt@basf.com,
both of BASF
Web site: http://www.basf.com

COPYRIGHT © 2008

Technology: Verizon Biz expands access to global audio-conferencing services

Basking Ridge, New Jersey, (ANTARA News/PRNewswire-AsiaNet) - Verizon Business has further expanded global access to its audio-conferencing services, enabling even more of its multinational customers to realise cost efficiencies by accessing audio meetings through local dial-in numbers from around the globe.

The company, a leading global provider of audio, Web and video-conferencing services, has expanded Verizon Global Access services in China, enabling customers anywhere in the country to join audio conferences for the cost of a local call from landline or mobile phones. A local national access number, now accessible from more than 300 cities within China, routes directly to Verizon Business' global conferencing service.

In addition, the company is planning to launch new country access points in Estonia, Latvia, Romania and the Middle East shortly. This continued expansion is designed to ensure customers have access to conferencing services from all key business centres around the world, supporting customers' evolving business needs.

"Global connectivity with a high level of local reach is one of the key differentiating factors for any conferencing service, especially with businesses being increasingly globalized," said Pranabesh Nath, Industry Analyst at global growth consulting company, Frost & Sullivan.

"Many corporations today are also looking for a larger presence in China. By increasing the local access points in such a substantial manner, Verizon Business has met some of the key requirements for most businesses in China - cost effective communications with worldwide offices and business partners; vast local reach for high flexibility, anywhere access; and high quality conferencing services with their robust network."

Verizon Business' audio conferencing services utilise the company's expansive network capabilities, offering customers a high-quality, simple means of collaborating around the world. Customer calls are connected through local access points to provide customers with a cost-effective means of improving communication and productivity in globally dispersed teams. Millions of audio conference meetings using Verizon Business solutions are currently held every month.

"Achieving cost-effective global collaboration continues to be a key objective for multinational corporations," said Roberta Mackintosh, executive director, global voice, Verizon Business. "More access points make it easier for companies to cost-effectively enhance their productivity and business performance as they expand in high-growth economies around the world."

Mackintosh concluded, "Our customers are showing more interest than ever in collaboration. With growing awareness of the impact of business travel on the environment, companies are experiencing increased pressure from customers, employees and regulatory bodies to reduce their overall carbon footprint. Our audio-conferencing service is part of an integrated and expanding portfolio of collaboration solutions, which are designed to support our customers' own business needs."

With more than 30 years' experience delivering conferencing services, Verizon Business is a pioneer in the conferencing industry. The company offers the convenience of one-stop shopping and a wide range of global customised products and services, including audio, video and net conference services, IP-based services, and some of the most advanced meeting tools available today.

About Verizon Business

Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a global IP leader and network-based partner for delivering integrated communications and information technology (IT) solutions to large-business and government customers worldwide. Combining unsurpassed reach with managed services, security, mobility, collaboration and professional services capabilities, Verizon Business delivers global solutions that power innovation and enable its customers to do business better. For more information, visit www.verizonbusiness.com.

SOURCE: Verizon Business
CONTACT: Junaidah Dahlan, Verizon Business, +65 6248 6827,
junaidah.dahlan@sg.verizonbusiness.com
Company News On-Call: http://www.prnewswire.com/comp618232.html
Web site: http://www.verizonbusiness.com

COPYRIGHT © 2008

Business: Brandes withdraws Ono proposal for 130 yen per share dividend

San Diego, California, (ANTARA News/PRNewswire-AsiaNet/ - Brandes Investment Partners, L.P. ("Brandes") announces that, on May 13th, 2008, it submitted a letter to Ono Pharmaceutical Co., Ltd. (the "Company"), a pharmaceutical manufacturer based in Japan and listed on the Tokyo Stock Exchange, withdrawing the resolution (the "Resolution") submitted to the Company on April 8th, 2008.

On behalf of its investment advisory clients, Brandes currently holds in excess of 7.0 per cent of the Company's shares. This represents an ownership position built since 1997.

The Resolution had called for the Company's Board of Directors to authorize: 1) a one-time dividend of 130 yen per share of common stock (including the 90 yen per share interim dividend, the annual dividend will be 220 yen per share), payable by September 30, 2008, and 2) a share buyback program of up to 10 million shares for a maximum of 60 billion yen.

However, subsequently the Company announced a share buyback program of up to 5.5 million shares for a maximum of 30 billion yen on April 14th, and most recently, a one-time dividend increase to 112 yen per share on May 8th (including the 90 yen per share interim dividend, the annual dividend will be 202 yen per share).

Although these changes do not quite equate to the level that Brandes had been requesting in the Resolution, Brandes appreciates the initiative that the Company has taken and would like to respect this positive development with the withdrawal of the proposal.

Brandes continues to believe that the Company has significant excess capital (including cash and both long and short-term investment securities) that is generating returns well below the cost of capital. However, Brandes believes that the recent actions by the Company exhibit the acknowledgement of excess capital as well as the intent to continue to gradually reduce this through dividends and buybacks, which was what Brandes had been appealing for throughout.

The decision to withdraw the proposal was based on the belief that the recent initiatives by the Company will be the first of many steps that it will take to improve shareholder returns. Brandes requests that the Company continues to improve capital efficiency by reducing excess capital through its deployment in higher return projects and/or via dividends and share buybacks.

Brandes believes that the completion of the announced buyback plan as well as the cancellation of all treasury shares acquired through the plan is very important. As a long term shareholder on behalf of its investment advisory clients, Brandes plans to monitor the progress that the Company makes and hopes to work constructively with the Company for the benefit of all stakeholders.

Brandes is a U.S. registered investment advisor. Located at 11988 El Camino Real, Suite 500, San Diego, California, 92130. Brandes managed approximately US$93.4 billion on behalf of institutional and individual investors, as of March 31st, 2008.

The above information is based on the following conditions.

Please understand fully. This press release is not intended to advocate the purchase or sale of the Company's stock. This press release is based on information currently available as of the date of this announcement. Brandes has acted in full caution and on best effort, but cannot guarantee that the information is correct. This press release is not intended to influence the share price of the Company.

SOURCE: Brandes Investment Partners, L.P.
CONTACT: Ray Lewis of Brandes Investment Partners, L.P.,
+1-858-523-3588, PublicRelations@brandes.com

COPYRIGHT © 2008

Business: Press invitation: International Transport Forum 2008

Paris, (ANTARA News/PRNewswire-AsiaNet) - German Federal Chancellor, Angela Merkel, Transport Ministers From More Than 50 Countries, Rajendra Pachauri, Yvo de Boer, Thomas Enders, Hartmut Mehdorn and Other Distinguished Participants...

"Transport and Energy: The Challenge of Climate Change"

28-30 May 2008 in Leipzig

-- Programme Highlights 28 May 2008: Stakeholders' Day Participants include: Massachusetts Institute of Technology, Scandia, Volkswagen, the World Bank, Michelin, Toyota Europe, Technical University of Berlin, GTZ, International Energy Agency.

29 May 2008: Main Political day 09:00

Opening Session with Jack Short, Secretary General, International Transport Forum (ITF) Anu Vehvilainen, Finnish Minister of Transport Wolfgang Tiefensee, Federal Minister for Transport, Building and Urban Development 9:30

Keynotes Rajendra Pachauri, Nobel Peace Prize winner and chairman of the Intergovernmental Panel on Climate Change (IPCC) Yvo de Boer, Executive Secretary of the UNFCCC Pekka Himanen, University of Helsinki Panel discussion chaired by the Minister of Transport of the Netherlands, Camiel Eurlings with Thomas Enders, Airbus; Thierry Morin, Valeo; Jack Jacometti, Shell 12:30

German Federal Chancellor Angela Merkel Photo with Transport Ministers from more than 50 countries 15:00

Panel discussions Hartmut Mehdorn, Deutsche Bahn AG; Julia King, Aston University; Scott Price, DHL Express Europe; Andre Navarri, Bombardier Transportation 30 May 2008: Key Messages 13:00

Press conference To register for press accreditation and obtain more programme details please consult http:/www.internationaltransportforum.org .

The International Transport Forum, part of the OECD family, is a global platform and meeting place at the highest level for transport, logistics and mobility with more than 50 member countries worldwide.

Key figures from government and politics, business and industry, research and civil society will meet at the annual conference in Leipzig, the "Transport Summit of the Year". The first ITF summit is "Transport and Energy: the Challenge of Climate Change".

If you would like to arrange an interview with the ITF Secretary General, Jack Short, please contact:

Michael Zirpel Director of Communications International Transport Forum

Postal address: OECD/ITF, 2 rue Andre Pascal, F-75775 Paris Cedex 16

Office Address: 5th floor, 2-4 rue Louis David, 75016 Paris, France Tel. +33-1-45-24-95-96 Fax. +33(0)1-45-24-13-22 michael.zirpel@oecd.org

If you would like to arrange an interview with the ITF Secretary General, Jack Short, please contact: Michael Zirpel, Director of Communications, International
Transport Forum, Postal address: OECD/ITF, 2 rue Andre Pascal, F-75775 Paris Cedex 16;

Office Address: 5th floor, 2-4 rue Louis David, 75016 Paris, France; Tel. +33-1-45-24-95-96, Fax. +33(0)1-45-24-13-22, michael.zirpel@oecd.org

SOURCE: International Transport Forum
CONTACT: Michael Zirpel, Director of Communications, International Transport Forum, +33-1-45-24-95-96, Fax. +33(0)1-45-24-13-22, michael.zirpel@oecd.org
Web site: http://www.internationaltransportforum.org

COPYRIGHT © 2008

Technology: Spirit AeroSystems secures Airbus A350 XWB contract

Wichita, Kan., (ANTARA News/PRNewswire-AsiaNet) - Spirit AeroSystems, Inc. (NYSE: SPR) today announced it has signed a contract with Airbus to design and produce a major composite fuselage structure for the A350 XWB (Xtra Wide-Body) program.

Spirit will design and manufacture the Section 15 center fuselage frame section, a composite structure that will be approximately 65 feet long, 20 feet wide and weigh nearly 9,000 pounds.

"Partnering with Airbus on the A350 XWB is a significant step in our company's history," said Jeff Turner, Spirit President and CEO. "It highlights our focus on creating long-term value for Spirit shareholders by growing our company with new customers."

"Spirit is pleased to be selected as a partner on this exciting new airplane program," said Dan Wheeler, Spirit A350 Program Director. "We're proud to have won this contract through a global competitive bid process, and will begin work on the design phase of the program immediately."

To accommodate this and other new work packages, Spirit announced plans to expand its operations with a new facility in Lenoir County, North Carolina, near the city of Kinston.

"To meet the demand for new aircraft, Spirit is establishing a design, fabrication and assembly plant in eastern North Carolina," said Turner. "Investing in additional facilities at this time assures we will be competitive and will be able to retain our position as a top Tier 1 supplier to Airbus and other aerospace companies around the world."

Spirit and the State of North Carolina have reached an agreement to begin implementation of a multi-phased project to create a Composites Manufacturing Center for aircraft parts and assemblies in North Carolina. A new facility will be constructed in North Carolina's Global TransPark to accommodate new work packages, and will house both design and build processes. It will initially employ 500 people, with plans to grow employment to 1,000 when all five phases are fully implemented. The project was facilitated by a package of state and local incentives.

"The State of North Carolina met our requirements for financial incentives, a strong industrial base, and expanded labor force requirements," added Turner.

Construction of the new facility in North Carolina will begin later this year, with operations expected to commence in 2010. Portions of work on the A350 XWB are also planned to be performed at Spirit Wichita and at the new Spirit Malaysia facility, which is expected to be operational in 2009.

A presentation highlighting various aspects of this announcement will be posted to the Investor Relations section of Spirit's external website later today.

About Spirit AeroSystems, Inc.

Based in Wichita, Kan., Spirit AeroSystems is the world's largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has operations in Tulsa and McAlester, Okla., Prestwick, Scotland,and Samlesbury, England. In the U.S., Spirit's core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America and Europe. Spirit Europe produces wing components for a host of customers, including Airbus.

This press release contains forward-looking statements concerning future business opportunities. Actual results may vary materially from those projected as a result of certain risks and uncertainties, including but not limited to future levels of business in the aerospace and commercial transport industries or in the number of aircraft to be built; the success and timely progression of our customers' new programs; challenges in the design, development, production and support of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed in Spirit AeroSystems Holdings, Inc. Securities and Exchange Commission filings.

On the web: http://www.spiritaero.com
SOURCE: Spirit AeroSystems, Inc.
CONTACT: Debbie Gann,
Corporate Communications of Spirit AeroSystems, Inc.,
+1-316-519-7340
Web site: http://www.spiritaero.com
(SPR)

COPYRIGHT © 2008

Business: Shortlist unveiled for the 26th OAG Airline Industry Awards

Singapore, (ANTARA News/PRNewswire-AsiaNet) - OAG (Official Airline Guide), the world's authority on flight information, today unveiled the shortlist for the 26th OAG Airline Industry Awards (www.oagairlineawards.com).

The winners will be announced at the Awards ceremony on Wednesday, 4 June in the opulent art deco setting of The Bloomsbury Ballroom in central London. Boeing is the Awards' headline sponsor.

Cathay Pacific, Japan Airlines, Korean Air, Singapore Airlines and Thai Airways have been nominated as best airline based in Asia while nominees for best airline in Australasia and the Pacific region include Air New Zealand, Air Pacific, Jetstar Airways, Qantas and Virgin Blue.

"Growth in demand for air travel in Australasia and the Pacific region is reflected by two first time nominees, Fiji's Air Pacific and the Australian low-cost carrier Jetstar Airways," says Mario Hardy, VP OAG Asia. "From the Asian region Cathay Pacific and Singapore have performed strongly across all categories including being nominated for their Business and First Class product in what are extremely competitive categories. It is also worth noting that their respective home bases, Hong Kong International and Singapore Changi, are both nominated for the title of the world's best airport. Reflecting the closeness in the voting, 2007's best airport, Seoul Incheon International, just missed out on the shortlist this year."

A total of 45 different airlines, three more than in 2007, have received nominations in 15 regional and global categories. Leading the field in terms of multiple nominations for 2008 is last year's "Airline of the Year", British Airways, which along with Singapore Airlines has six nominations. Singapore Airlines and British Airways, both five times winners of the coveted "Airline of the Year" title, are followed by American Airlines, Cathay Pacific and Lufthansa with four nominations apiece. First time nominees in 2008 include Air Pacific, Jetstar Airways, Tarom and Virgin Nigeria.

"It is often overlooked that globally there are nearly 1,000 airlines and 3,500 airports trying to attract the attention and business of the world's frequent and occasional travellers. The management and staff of all the 45 airlines nominated for this year's OAG Airline Industry Awards should be immensely proud of their accomplishments over the last 12 months," says Alan Glass, CEO of OAG. "The nominees have already been voted amongst the very best in the world in their respective categories and we at OAG congratulate them on this achievement."

Glass continued, "There is no question that the last 18 months has been at times a turbulent one for many airlines and airports, but OAG's worldwide customer and subscriber base have spoken up, as they have for the past 26 years, to vote in large numbers for the airlines and airports that they consider to be the best in the business. As in previous years our customers and subscribers, the world's frequent flyers, have thrown up some perennial favourites, such as Singapore Airlines and British Airways, as well as some interesting surprises amongst the nominees. The fact that after 26 years we can still have four first time nominees reflects just how dynamic and global our industry remains."

The annual "OAG Airline Industry Awards", sponsored by Boeing, celebrates the very best in global air travel and publicly recognises the highest standards within the industry. The complete list of nominations for 2008 follows, or at www.oagairlineawards.com

Best Airline Based in Asia
Sponsored by The Bird Group
Cathay Pacific, Japan Airlines, Korean Air, Singapore Airlines, Thai Airways

Best Airline Based in Australasia/Pacific
Sponsored by 15Below
Air New Zealand, Air Pacific, Jetstar Airways, Qantas, Virgin Blue

Best Airline Based in North America
Air Canada, American Airlines, Continental Airlines, Delta Air Lines, United Airlines

Best Airline Based in Central/South America & Caribbean
Aeromexico, Copa Airlines, LAN Airlines, Mexicana, TAM Brazilian Airlines

Best Airline Based in the Middle East/Indian Sub-Continent
Sponsored by The Bird Group
Emirates, Etihad, Gulf Air, Jet Airways, Qatar Airways

Best Airline Based in Africa
Ethiopian Airlines, Egyptair, Kenya Airways, South African Airways, Virgin Nigeria

Best Airline Based in Central/Eastern Europe
Sponsored by Daedalus Sales & Marketing Consultants
Aeroflot Russian Airlines, Czech Airlines, LOT Polish Airlines, MALEV Hungarian Airlines, TAROM

Best Airline Based in Western Europe
Air France, British Airways, KLM Royal Dutch Airlines, Lufthansa, Virgin Atlantic

Best Transpacific Airline
Air New Zealand, Cathay Pacific, Qantas, Singapore Airlines, United Airlines

Best Transatlantic Airline
American Airlines, British Airways, Delta Air Lines, United Airlines, Virgin Atlantic

Best Europe - Asia/Australasia Airline
British Airways, Emirates, KLM Royal Dutch Airlines, Lufthansa, Singapore Airlines

Best Low Cost Airline
Sponsored by The Bird Group
easyJet, jetBlue, Jetstar Airways, Ryanair, Southwest Airlines

Best Economy/Coach Class
Sponsored by Travelport
American Airlines, British Airways, Delta Air Lines, Korean Air, Singapore Airlines

Best Business/Executive Class
Sponsored by Travelport
American Airlines, British Airways, Cathay Pacific, Lufthansa, Singapore Airlines

Best International First Class
Sponsored by Travelport
British Airways, Cathay Pacific, Emirates, Lufthansa, Singapore Airlines

Best Airport
Amsterdam Schiphol, Dubai International, Hong Kong International, New York JFK, San Francisco International, Singapore Changi

Best Freighter Operator
Amerijet International, Cargolux Airlines, Cathay Pacific Cargo, KLM Cargo, Lufthansa Cargo

Best Airline Lessor
Aviation Capital Group, AWAS, Babcock & Brown Aircraft Management, DAE Capital, Engine Lease Finance Corp, Jetscape

Best Airline Finance Deal
Engine Lease Finance Corp (GSI engine sale), Macquarie (acquisition of GATX Air), Morgan Stanley/Credit Suisse (Continental Airlines EETC), RBS Aerospace (Airspeed securitization), Seabury Group (Northwest restructuring), TAM (bond issue)

About OAG (Official Airline Guide)

OAG (www.oagcorporate.com) is a global flight information and data solutions company for the passenger aviation, air cargo logistics and business travel markets. It brings together buyers and sellers of air travel and transport through the management and distribution of airline product information; the supply of corporate travel planning tools; and the promotion of travel and transport products.

The business is underpinned by its data management expertise. It is best known for its airline schedules database which feeds the world's global distribution systems and travel portals and drives the internal systems of many airlines, air traffic control systems, aircraft manufacturers, airport planners and government agencies.

OAG is part of Commonwealth Business Media (www.cbizmedia.com) a wholly owned subsidiary of United Business Media plc (www.unitedbusinessmedia.com).

SOURCE: OAG
CONTACT: Alison Pickering,
Head of Corporate Communications, OAG,
+44-1582-695477,
apickering@oag.com
Web site: http://www.oagcorporate.com
http://www.oagairlineawards.com
http://www.cbizmedia.com
http://www.unitedbusinessmedia.com
(UBM.L)

COPYRIGHT © 2008

Business: NetDragon quarterly revenue soars 63 pct

Hong Kong, (ANTARA News/Xinhua-PRNewswire-AsiaNet) - One of the leading game developers and operators in the PRC, NetDragon Websoft Inc. (NetDragon or the Company, with its subsidiaries collectively the Group; Stock Code: 8288.HK), today reported its unaudited results for the three months ended 31 March 2008 (the period under review), representing its first quarterly results for 2008.

Highlights

- Total revenue amounted to approximately RMB 175,556,000 representing an increase of approximately 63.7% over the same period last year.

- Gross profit and profit for the period were approximately RMB 159,023,000 and RMB 69,934,000 respectively, representing increases of approximately 57.7% and 19.6% over the corresponding period in 2007.

- The directors do not recommend payment of interim dividends for the three months ended 31 March 2008.

Business and Financial Highlights

The increase in the Group's total revenue was mainly due to the continuing popularity of its core games Conquer Online, Eudemons Online, Zero Online and Tou Ming Zhuang Online.

To improve the quality of these games, the Group allowed players to download free upgrades for each of them on a weekly basis.

Eudemons Online - This game is a 2.5D MMORPG targeting players who enjoy demon-character fantasy games, and was launched in late March of 2006.

The revenue it generated during the period under review amounted to approximately RMB 105.4 million, representing an increase of around 37.4% over the same period last year, and an overall contribution to the Group's total revenue of approximately 60%.

During the period under review, the game drew a PCU and ACU approximately 479,000 and 210,000, respectively representing an increase of approximately 9.4% and a decrease of approximately 1.4%, respectively when compared to the same period last year.

The Group has also entered into a licensing agreement with UserJoy Technology Co., Ltd. for the operation of a traditional Chinese version of Eudemons Online in Taiwan.

The game is expected to be launched in Taiwan this summer.

Conquer Online - This game is a 2.5D MMORPG targeting players who enjoy games evoking the heroic spirit of the ancient martial era, and was launched in September 2003. In the period under review, it generated revenue of approximately RMB39.4 million, and contributed approximately 22.4% of the Group's total revenue. It drew a PCU and ACU approximately 99,000 and 64,000, respectively during the period under review, representing increases of approximately 16.5% and 4.9%, respectively over the same period last year.

Zero Online - This game is a 2.5D MMORPG targeting players who enjoy robot fighting games, and was launched in late April 2007. The revenue generated by Zero Online in the period under review amounted to approximately RMB19.3 million, and contributed approximately 11.0% of the Group's total revenue.

It drew a PCU and ACU approximately 67,000 and 30,000, respectively during the period under review. The Group has also entered into a licensing agreement with Wayi International Digital for the operation of a traditional Chinese version of Zero Online in Taiwan.

Tou Ming Zhuang Online - This game is an MMORPG based on an epic oriental costume-drama movie of the same name produced through the joint efforts of NetDragon and China Film Group.

The game was launched in late 2007 and has already generated approximately RMB11.2 million in revenue, contributing approximately 6.4% of the Group's total revenue in the period under review.

The game drew a PCU and ACU approximately 24,000 and 9,000, respectively during the period under review.

On the basis of its outstanding results and its extremely positive outlook for future development, in January 2008 the Group was recognized as one of China's Best Small and Medium Sized Enterprises 2008 by internationally renowned financial journal Forbes (Chinese edition).

In addition, the Group's newest game, Way of the Five', has been officially recognized by the PRC Ministry of Culture as an Online Game Suitable for Young People'.

In addition, the Company's stock will become a constituent stock of the MSCI China Index at the end of May 2008.

Business Outlook

Currently, the Group is actively developing three 2.5D MMORPGs, namely Heroes of Might and Magic Online, Way of the Five, and Tian Yuan.

Heroes of Might and Magic Online and Way of the Five are expected to be launched in the second quarter of this year, while Tian Yuan should be launched in the third quarter.

Chairman of NetDragon, Mr. Liu Dejian, concluded: "Looking forward, we will be continuing our efforts to further strengthen our core game development capacities.

"We will do this by recruiting more experienced game developers, developing game development software to replace certain manual operations, and purchasing any additional computers and software necessary for advanced game development. We will also consolidate our existing leading position through various business strategies."

In addition, the board has applied to have its shares listed on the Main Board of the Stock Exchange of Hong Kong by way of introduction, a move which could provide new breakthroughs for our future business development.

About NetDragon Websoft Inc.

NetDragon Websoft Inc. is one of the leading online game developers and operators in the PRC. The Group's game portfolio consists of a range of MMORPGs (Massively Multiplayer Online Role-Playing Games) that cater to various types of players and gaming preferences.

The Group has successfully developed and marketed many popular online games in various styles. Its current offerings include the games Eudemons Online, Conquer Online, Zero Online, Tou Ming Zhuang Online, Era of Faith, and Monster & Me.

Some of the games are available in foreign languages, including English, French and Spanish. The Group also has three new games in the pipeline, namely Heroes of Might and Magic Online, Way of the Five and Tian Yuan, all expected to be launched in 2008. NetDragon was listed on the GEM board of the Stock Exchange of Hong Kong on 2 November 2007 (Stock Code: 8288.HK).

For more information, please visit http://www.nd.com.cn .

Issued by Porda International (Finance) PR Group for and on behalf of NetDragon Websoft Inc.

For further information, please contact:
NetDragon Websoft Inc.
Ms. Angelina Li (Investor Relations Officer)
Tel: +852-6303-1722 or +86-1380-9508-688
Fax: +852-2850-7066
Email: angelinali@nd.com.hk

SOURCE: NetDragon Websoft Inc.

COPYRIGHT © 2008

Business: Glass Lewis names James Hawrylak to lead Asia operations

San Francisco, (ANTARA News/PRNewswire-AsiaNet) - Glass Lewis & Co., LLC, a leading independent research and proxy advisory firm, today announced its appointment of James Hawrylak as Managing Director of Asia Operations. Mr. Hawrylak will focus on marketing Glass Lewis products and services to Pan-Asian institutional investors and manage the operational activities connected to Glass Lewis' research coverage of Asia's proxy seasons.

"James brings a rare combination of cultural skills and years of experience successfully building businesses in Japan, Korea, and Greater China," said Katherine Rabin, Chief Executive Officer of Glass Lewis. "Through his work in investment banking and investor relations, James understands well the corporate governance concerns of both Asia-based investors and global investors that invest in Asian companies. We are excited to have James spearhead Glass Lewis' efforts in Asia and look forward to success in the region under his leadership."

"I am looking forward to building Glass Lewis' Asian business -- Glass Lewis has a best-in-class line of services to offer to investors here and the timing is right for the Asia market as investors around the world seek even more insight to the governance standards of issuers," said Mr. Hawrylak.

Fluent in Japanese and Mandarin, Mr. Hawrylak has worked in Asia since 1987, holding marketing and operational roles in Hong Kong, Japan, Korea, and Taiwan for financial sector firms such as DLJdirect, Mizuho Securities, and Taylor Rafferty. He has a master's degree in East Asian Languages and Literatures from University of Hawaii at Manoa, and an MBA from Thunderbird School of Global Management.

About Glass, Lewis & Co., LLC

Glass, Lewis & Co. is a leading investment research and global proxy advisory and voting services firm, serving institutions that collectively manage more than $15 trillion. Glass Lewis helps institutional investors make more informed investment and proxy voting decisions by identifying business, legal, governance and financial statement risk at more than 15,000 companies worldwide. Founded in 2003, Glass Lewis is headquartered in San Francisco with offices in New York, Tokyo, Sydney and Denver.

SOURCE Glass Lewis & Co., LLC
CONTACT: Bayley Diamond of Glass, Lewis & Co., LLC,
+1-415-738-4115,
bdiamond@glasslewis.com
Web site: http://www.glasslewis.com

COPYRIGHT © 2008

Fund/Bank: MasterCard Foundation to expand microfinance training

Toronto, (ANTARA News/PRNewswire-AsiaNet) - The MasterCard Foundation launched its Scholars Program today by awarding grants totaling $600,000 to six leading microfinance training institutes.

The program will fund 200 scholarships for staff working in microfinance in Africa, Asia, Eastern Europe, Latin America and the Middle East to participate in management and professional development courses.

According to a recent study by the Center for the Study of Financial Innovation, the greatest risk facing the microfinance sector, which provides access to financial services to low-income populations in developing countries, is the uneven quality of management and limited staff capacity.

Strong leadership and staff capacity is critical as the sector rapidly expands and faces new demands for services.

The Scholars Program will help meet this need by extending educational and training opportunities to microfinance staff at the regional and local levels.

Our Foundation is committed to strengthening the capacity of the microfinance sector by training staff working in developing countries, said Reeta Roy, president and CEO of the MasterCard Foundation.

"We are delighted to partner with these six respected institutes, which are vital to advancing knowledge and learning in microfinance."

The six organizations receiving $100,000 grants are:
- Boulder Institute of Microfinance, founded in 1995 to create a platform for dialogue and critical thinking in microfinance;
- Frankfurt School of Finance and Management, founded in 1957, one of Europe's leading business schools that since 1999 has run the Micro Banking Summer Academy for microfinance institution managers;
- Harvard Business School & ACCION Program on Strategic Leadership for Microfinance, developed in 2006 as the first executive education course for directors of microfinance institutions;
- Microfinance Centre, created in 1997 by practitioners in Eastern and Central Europe to address the lack of training for the region's microfinance programs;
- Microfinance Management Institute, created in 2004 to integrate the study of microfinance into the curricula of premier graduate management programs in developing countries; and
- School of Applied Microfinance, founded in 2005, and now the leading Africa-based microfinance training program.

About the MasterCard Foundation

The MasterCard Foundation is an independent, private charitable foundation headquartered in Toronto, Canada.

It was established through the generosity of MasterCards customer financial institutions at the time of the company's initial public offering, to fuel economic growth and opportunity for underserved people around the world.

Its mission is to broaden access to the global economy through innovative microfinance programs and to increase access to quality educational opportunities for underserved people.

For more information, go to www.mastercardfoundation.org.

SOURCE The MasterCard Foundation
CONTACT: Paul Massey,
+1 202-585-2799,
pmassey@webershandwick.com,
Jennifer Kushlis,
+1 202-585-2828,
jkushlis@webershandwick.com,
both for The MasterCard Foundation
Web site: www.mastercardfoundation.org

COPYRIGHT © 2008

Business: Summary of Resolution of the AGMS and the EGMS of Indocement

- Indocement is The First Indonesian Company Successfully Completed CDM Project
- Significant Results of Year 2007
- Continuing Significant Results in The First Quarter of 2008

Jakarta, May 14, 2008 (ANTARA) -
Summary of Resolution of the Annual General Meeting of Shareholders

The Annual General Meeting of Shareholders (the "AGMS") of PT Indocement Tunggal Prakarsa Tbk. (the "Company") convened in Jakarta on Wednesday, May 14, 2008 approved among others the distribution of Rp40 per share or about 15% of the Company's profit for the year 2007 as cash dividend. The dividend to be distributed amounting to Rp147,249,267,960 (One hundred forty seven billion two hundred forty nine million two hundred sixty seven thousand and nine hundred sixty Rupiah).

The shareholders also approved the change in the composition of the Company's Board as follows:
a. To have a new President Commissioner, DR. Albert Scheuer. He has a very strong background as technical expertise to further strengthen the Company's technical competitiveness in future.
b. To appoint Mr. Hasan Imer as Director of the Company for the term of office as of 1 September 2008 to replace the Company's current technical director, Mr. Oivind Hoidalen who will retire as of 31st August 2008.

Summary of Resolution of the Extraordinary General Meeting of Shareholders

The Extraordinary General Meeting of Shareholders (the "EGMS") of the Company, convened on the same day, had adopted the following resolutions:

1. To approve the appointment of HC Fuels Limited, an Affiliated Party of HeidelbergCement AG as Company's broker or marketing agent for the purpose of sale of Company's CER;
2. To approve the possible sale of Company's CER to the Affiliated Parties of HeidelbergCement AG, the principal shareholder of the Company whether or not through the services of HC Fuels.
3. To extend the appointment of HeidelbergCement Technology Center Gmbh has been approved by the extraordinary general meeting of shareholders on 23 February 2005 and 29 March 2006 by including the technical advisory services from all of the companies which are the Affiliation of HeidelbergCement Technology Center Gmbh within the organization of HeidelbergCement Group.

Indocement Is the First Indonesian Company Successfully Completed the CDM Project (CERs)

The Company is expected to able to produce 6-7 million tons CERs starting 2005 up to 2012 that will contribute additional income for the Company per year.

As of March 2008, UNFCCC issued 80,967 the CERs in relation with Alternative Fuel Project undertaken by the company during period of Year 2005 up to end of July 2007. The certification process for Blended Cement Project is still in underway and expected to be completed soon

Significant Results of Year 2007

The Company has achieved the highest record level in sales volume both for domestic and export market, totaling 14.5 million tons (previous year was 13.1 million tons)

The company posted 7.9% growth in domestic sales volume in 2007, higher than the national growth of 7.0%, increasing our total share of domestic cement market to 30.9% from 30.6%. Cement domestic sales volumes reached 10.7 million tons (previous year was 10.0 million tons). In addition, export sales volume reached 3.8 million tons (previous year was 3.2 million tons)

To compensate part of dramatic cost increase in coal and fuel, the Company increased its average domestic sales price by 7.2% year-on-year. As a result, net revenues rose by 15.8% to Rp7,323.6 billion (previous year was Rp6,325.3 billion). The gross margin improved to 38% from 34%.

The income from operations grew considerably by 48.4% at Rp1,584.8 billion compared to Rp1,067.7 billion posted in the same period last year.

EBITDA also increased by 35.2% to Rp2,142.7 billion (previous year was Rp1,584.9 billion). This year, the net income rose to Rp983.7 billion, a 65.9% increase from Rp592.8 billion posted in the same period last year as there was sizeable reduction of interest expense from Rp301.0 billion the previous year to Rp195.6 billion. This is attributable to the reduction on the company?s debt level and interest rate.

On December 14, 2007, Indocement has fully prepaid the syndicated bank loan facility obtained in April 2006. The remaining debt is only HC Finance B.V loan of USD150 million that has been hedged by cross currency interest rate swap into Rupiah.

Net gearing declined to 16% from 37% in 2006, the lowest level in more than a decade. Net Debt to EBITDA was also reduced to 0.51 from 1.40. EBITDA to Net Interest Cover times increased double to 11.9 from 5.8 in 2006.

Continuing Significant Results in the First Quarter of 2008

The Company continuously performed substantial sales growth in the first quarter of 2008. Taking advantage of the Company's available capacity to supply domestic market whenever there is high demand, the Company successfully increased its domestic sales by 25.3%, reaching 2.9 million tons (previous year: 2.3 million tons). It is considerably higher than the national growth of 16.8%. Accordingly, the domestic market share has improved to 32.8% from 30.6% achieved in the same period last year.

In addition, the Company reduced its export sales volume by 22.3% to 0.6 million tons (previous year: 0.8 million tons) in order to supply the high demand in the domestic market. The total sales volume grew by 13% to 3.6 million (previous year: 3.1 million tons).

As the significant hike in energy costs, such as more than 100% coal price increase and 60% fuel price increase, the Company needs to pass through such cost increase into the market. So far, we are able to increase the average domestic selling prices by 16.5% year-on year or 3.1% increase from December 2007.

Consequently, net revenues rose by 38.6% to Rp2,052.5 billion (previous year: Rp1,480.6 billion). The gross margin expanded to 42% from 32%. The income from operations soared by 156.0%, from Rp213.2 billion to Rp545.8 billion. Thus, operating margin expanded from 14.4% to 26.6%.

EBITDA doubled to Rp692.8 billion (previous year: Rp345.5 billion), while net income jumped by 235.1% to Rp377.0 billion (previous year: Rp112.5 billion). This was attributable to the decline of interest expense from Rp55.8 billion to Rp35.1 billion as the remaining debt is only HC Finance B.V loan of USD150 million that has been hedged by cross currency interest rate swap into Rupiah. Moreover, there was foreign exchange gain of Rp10.9 billion compared to foreign exchange loss of Rp4.8 billion posted in the same period last year.

Net gearing kept declining to 11% from 16% by the end of 2007 and 35% in the first quarter of 2007. Net Debt to EBITDA dropped to 0.29 from 1.54 posted in the same period last year, whereas EBITDA to Net Interest Cover times almost quadrupled to 24.6 from 6.4. All the financial ratios are at the lowest level in more than a decade.

Investment Plans

Mr. Daniel Lavalle as the President Director of the Company remarked:

"With the on going strong growth of cement consumption, Indocement will continue to prepare its cement plants to provide more cement capacities. After finishing our revamping project of Plant 8 last year that added annual capacity of up to 600,000 tons of cement, Indocement will continue to invest in adding 1.2 million tons of cement by constructing a new cement mill capacity in Cirebon that will be ready in operation by Q2 -2009.

In addition, Indocement is currently doing an internal study to build 2-3 new cement mills and do several other kiln modification projects in Plant 7 and 11 in Citeureup, Plant 9 and 10 in Cirebon and Plant 12 in Tarjun that enables us to reach the capacity of 21-22 million tons in next 3 years period.

Each of above investments only takes about 9 to12 months to be completed at the low costs in the range of USD40~USD50 per ton
If cement domestic demand is continuing to be high in the future, Indocement is also planning to invest a new kiln line with the capacity of 10,000 tons per day (or equivalent to cement production capacity of more than 3MT per annum) that will be located either in Citeureup, Bogor, West Java, or in Tarjun, Kotabaru, South Kalimantan or other area in Java -subject to further feasibility study.

The investment cost for new kiln line is about USD120-140 per ton and it will take about 3-4 years to be completed.

Expansion Plans (Vertical Integration Strategy)

In July 2007, Indocement acquired a 51% share of PT Gunung Tua Mandiri, a new developed Andesit quarry in Rumpin, West Java, with estimated aggregate reserves of 30 million tons and current annual production of approximately 1.5 million tons. The production has started since November 2007.

Indocement also signed a Conditional Sale and Purchase and Transfer of Assets for the entire assets and aggregate mining owned by PT Handi Perkasa, located in Purwakarta, on 18th December 2007. The mining area is 150 hectare and the estimated reserves of approximately 100 million tons.

"The expansion into aggregates business will strengthen our vertical integration strategy in scope of building materials supply, especially to anticipate the upcoming infrastructure projects planned to start soon in Indonesia", added Mr. Daniel Lavalle

For further information, please contact:

Christian Kartawijaya - Finance Director
PT Indocement Tunggal Prakarsa Tbk.
Wisma Indocement 8th floor
Jl. Jenderal Sudirman Kav.70-71
Jakarta 12910
Telephone : (021) 2512121
Facsimile : (021) 2510066

COPYRIGHT © 2008