Technology: 400 million shipments of Hi's 3D rendering engine Mascotcapsule(R)

MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-binmmg.cgi eid=5727183

Tokyo - HI CORPORATION(JASDAQ:3846)(ISIN:JP3160860007)(Headquarters: Meguro-ku, Tokyo; President and CEO: Kazuo Kawabata hereinafter "HI") today announced that its 3D rendering engine MascotCapsule reached 400 million shipments worldwide in mobile devices as of the end of March 2008.

MascotCapsule has been widely adopted worldwide by being embedded into the handsets of both overseas and Japanese leading manufacturers and carriers. Over 200 million units have been shipped overseas."We are very pleased that our MascotCapsule has been shipped in more than 400 million mobile devices. Despite a sluggish domestic market in FY 2007, the shipments of MascotCapsule has steadily increased due to the strong growth in overseas markets boosted by the proliferation of mobile handsets in emerging countries. Through close partnership and collaboration with various companies with wide-ranging solutions, we are committed to further promoting the embedding of MascotCapsule into devices other than handsets. Along with this, we will make every effort to propose new usage scenes for MascotCapsule in application segments by developing UIs, services, and contents that will create a pleasurable usability and user experience with 3D graphics," said Kazuo Kawabata, HI's President and CEO.

* MascotCapsule is a registered trademark of HI CORPORATION in Japan.
[About HI CORPORATION] Please visit our web site(http://www.hicorp.co.jp/english/index.html).

[About MascotCapsule] It is an embedded 3D rendering engine that runs on mobile phones and other devices, enabling a real-time 3D graphic processing. MascotCapsule does not rely on any operating system; it can be selected from its seven lineups such as V1 through V4, nano, eruption, and Renderion according to the hardware execution environment; MascotCapsule enables much more enriched 3D expressions than 2D on the limited resources.

For more information, please visit our web site(http://www.mascotcapsule.com/en/index.php).

HI CORPORATIONPam Hung/Mitsutaka Monma, +81-3-3710-2843
Public RelationsMarketing Dept.Fax:+81-3-5773-8660
press@hicorp.co.jp

Technology: Digi releases IEEE 802.15.4 wireless gateways, adapters, kits

New products join Xbee 802.15.4 modules to provide a full compliment of point-to-multipoint solutions for wireless device connectivity

Minnetonka, Minn. (ANTARA News/PRNewswire-AsiaNet) - Digi International (Nasdaq: DGII) today introduced new versions of ConnectPort X gateways, XBee adapters and development kits that are compatible with its existing XBee and XBee-PRO 802.15.4 embedded RF modules. Together these products allow customers to wirelessly enable distributed groups of electronic devices and connect those devices to the Internet where they can be monitored remotely.

These solutions support point-to-multipoint wireless connectivity which is ideal for latency sensitive, low-power RF applications. They join Digi's existing ZigBee mesh networking solutions within the Drop-in Networking product line - a combination of hardware components and software tools for network-enabling commercial grade devices where wired infrastructure does not exist or is unable to satisfy customer needs.

"Customers come to us looking for wireless solutions," said Larry Kraft, senior vice president of global sales and marketing, Digi International.

"Our 802.15.4 Drop-in Networking products are perfect for cost-effectively connecting end points such as sensors or data loggers over cellular networks to centralized applications, especially when predictable response times are required."

"Digi has used our IEEE 802.15.4 architecture to commercialize a broad and compelling product offering for customers looking to build or expand a multipoint RF network," said Brett Black, manager of Freescale's Wireless Connectivity Operation.

"The ConnectPort X gateway offers an IP connectivity solution for our IEEE 802.15.4 customers. This off-the-shelf gateway eliminates the burden of designing and certifying such a device in-house and speeds time to market."

Digi's 802.15.4 family includes:
-- XBee 802.15.4 modules available in regular and extended-range versions that provide embeddable wireless for sensors and other devices
-- XBee 802.15.4 adapters available in regular and extended-range versions that offer a way to wirelessly enable existing devices that are already field deployed
-- ConnectPort X gateways that provide IP connectivity to the 802.15.4 device network over cellular, Wi-Fi or Ethernet, allowing customers to build fully wireless deployments without the need for a wired network infrastructure
-- Drop-in Networking kits that allow customers to quickly build a proof-of-concept system from a selection of these different components

The entire range of 802.15.4 products is available now. For more information about Drop-in Networking, visit http://www.digi.com/products/wirelessdropinnetworking/.

To listen to a Webinar with Freescale regarding how to wirelessly enable M2M devices and sensors, visit http://www.digi.com/news/videos.jsp?sproduct=18.

About Digi International

Digi International, the leader in device networking for business, develops reliable products and technologies to connect and securely manage local or remote electronic devices over the network or via the web. Digi offers the highest levels of performance, flexibility and quality, and markets its products through a global network of distributors and resellers, systems integrators and original equipment manufacturers (OEMs). For more information, visit Digi's Web site at http://www.digi.com , or call +877-912-3444.

All brand names and product names are trademarks or registered trademarks of their respective companies.

For more information, please contact:
Hokie Chan
Channel Marketing Manager, Asia Pacific
Tel:
+852-2235-2206
Email: hokiec@digi.com
SOURCE Digi International

Business in Asia Today - July 9, 2008

JAPAN BANKRUPTCIES IN H1 SURGE 6.9% TO HIGHEST LEVEL IN 5 YRS
Tokyo (ANTARA News/Asia Pulse) - A total of 7,544 Japanese companies went belly up in the six months through June, a 6.9 per cent increase on the year and climbing to the highest first-half level since 2003.
According to data released Tuesday by Tokyo Shoko Research Ltd., bankruptcy cases increased in the construction industry, which was hit by higher materials prices as well as stricter screenings of building plans under a revised construction standards law.
Sliding land prices and weak housing sales also forced many real estate companies out of business.
Bankruptcies rose in the manufacturing and wholesale industries as well.

INSURANCE AUSTRALIA GRP TO SCALE BACK UK OPERATIONS, CUTS DIVIDEND
Sydney (ANTARA News/Asia Pulse) - Insurance Australia Group Ltd (ASX:IAG) has slashed its final dividend and will wind back its United Kingdom operations at a cost of A$350 million (US$333 million), just two years after entering the fiercely competitive British market.
The cut to IAG's final dividend to nine cents a share, from 16 cents, is an embarrassment for the general insurer's board, which recently rejected a takeover advance from QBE Insurance Group Ltd (ASX:QBE), with an implied value of A$4.60 a share.In a sweeping review of Australia's biggest insurer of homes and cars, the company's new chief executive, Mike Wilkins, also flagged an overhaul of the group's local operations.
IAG said the efficiency program in Australia and New Zealand was expected to deliver A$130 million in annual savings, but generate a A$60 million pre-tax impairment charge in fiscal 2008.

ADNOC SELECTS CONOCOPHILLIPS AS PARTNER TO DEVELOP SHAH GAS FIELD
Abu Dhabi (ANTARA News/Asia Pulse) - Abu Dhabi National Oil Company (ADNOC) and US oil company ConocoPhillips signed an interim agreement Tuesday for developing the Shah gas field in the Emirate of Abu Dhabi, United Arab Emirates.
Under the interim agreement, ADNOC and ConocoPhillips will jointly share the cost of the Shah Gas field development project. Completion of final joint venture agreements between the two parties is expected by year-end.
The large-scale project involves the development of sour gas reservoirs within the Shah field, located on-shore approximately 180 km south-west of the city of Abu Dhabi.
A new company will be formed to manage and operate Shah Facilities upon completing the project, with a 60 per cent interest for ADNOC and a 40 per cent interest for ConocoPhillips.

AUSTRALIAN CONSUMER SENTIMENT DROPS TO 16-YR LOW: INDEX
Sydney (ANTARA News/Asia Pulse) - Australian consumer sentiment has fallen to its lowest level in 16 years after petrol prices reached new highs, a leading economic indicator shows.
The Westpac-Melbourne Institute consumer sentiment index fell 6.7 per cent in July to 79 points, its lowest point since January 1992.
Westpac chief economist Bill Evans said the index was at its worst level since Australia began emerging from the recession of 1990/91.
The survey of 1,200 people was taken in early July, when crude oil prices hit a record $US145.85 a barrel and petrol prices in major capital cities hit $1.70 a litre.

INDIAN RETAILER SUBHIKSHA TO ADD 1,000 OUTLETS BY DECEMBER
New Delhi (ANTARA News/Asia Pulse) - Aiming to cash in on the burgeoning retail sector, supermarket, pharmacy and telecom retail chain Subhiksha on Tuesday said it plans to open 1,000 more outlets by the end of this year.
"Organised retail is growing at a rate of 8-10 per cent per annum, which so far represents only about four per cent of the total retail market.
We are planning to open about 1,000 stores by this December across various cities of the country," Subhiksha President (Manpower) S Shashikanth said.
Subhiksha, which started its operation with one store in Tamil Nadu in 1997, currently has over 1,500 outlets across the country and employs over 25,000 people.

L&T BAGS US$242.4 MLN ORDER FROM INDIAN RAILWAYS
Mumbai (ANTARA News/Asia Pulse) - Engineering and construction firm Larsen and Toubro (L&T) (BSE:500510) on Tuesday said it has bagged Rs 10.48 billion (US$242.4 million) contract from Indian Railways for setting up a steel wheel manufacturing plant in Bihar.
The company would set up a cast steel manufacturing plant at Saran in Bihar, L&T said in a filing to the Bombay Stock Exchange, adding that the plant when commissioned will have the capacity to manufacture 100,000 cast steel railroad wheels per annum.
The scope of the work for this turnkey project involves engineering, procurement and construction of the plant, including civil works, electrical installation and commissioning of machinery and plant. The project is scheduled to be completed within two years.

INDONESIA'S BAKRIE TAKES CONTROL OF MORE TOLL ROAD PROJECTS
Jakarta (ANTARA News/Asia Pulse) - The Bakrie Group (JSX:BNBR) has taken over the Pasuruan-Probolinggo toll road project after the original contractor failed to carry out the project due to financial difficulties.
There is no revocation of concession as Bakrie took over the project by injecting funds to the holder of the contract, PT Transjawa Pasro, Public Works Minister Djoko Kirmanto said. Earlier, the toll road regulatory body BPJT gave PT Transjawa a week to July 7 to meet the financial requirements or face revocation of its contract.
Bakrie has also taken over a number of other toll road projects as implementation by the original contractors failed over financial problems, media reports said.

INDIAN EXPRESS TRAINS TO CARRY CORPORATE SPONSOR'S NAME
New Delhi (ANTARA News/Asia Pulse) - India's Rajdhani express trains will soon feature a corporate image in their names as Indian Railways has entered into a sponsorship pact with US-based Max New York Life.
As per the agreement signed between the US-based life insurer and Railways today, three Rajdhani Trains starting from Bangalore, Chennai and Thiruvananthapuram and terminating at New Delhi will carry the suffix Max New York Life.
While the Railways would benefit by way of a license fee, for the company it would be a major brand promotion exercise.
The agreement will also give the insurance company the sole advertising and promotion rights on outside and inside of the three south bound Rajdhani trains.

SEIKO EPSON UNIT TO MASS-PRODUCE TOUCH PANELS IN CHINA
Matsumoto (ANTARA News/Asia Pulse) - Seiko Epson Corp.'s (TSE:6724) LCD panel production subsidiary, Epson Imaging Devices Corp., plans to begin mass production of touch panels at its plant in Suzhou, China, in the second half of fiscal 2008.
The move is in response to expansion of the market accompanying the growing popularity of car navigation systems and portable devices.
The plant will switch from producing inexpensive color STN (supertwisted nematic) substrates and LCD panels and touch panels to substrates for small and midsize touch panels for these high-value-added consumer products.

AT LEAST TWO THAI POLITICOS IN BRIBE SCANDAL: HOUSE PANEL
Bangkok (ANTARA News/Asia Pulse) - At least two Thai politicians received bribes from a Japanese firm in return for being awarded a public works tunnel project here in 2003, a senior Thai House of Representatives member alleged Tuesday.
Charnchai Isarasenarak, deputy chairman of the House Committee on the National Counter Corruption Commission (NCCC), said he had some documents concerning the project in his hands and the Committee had formerly investigated the scandal in 2005.
But the investigation stopped shortly after a corruption scandal relating to the procurement of the CTX9000 bomb scanners at Suvarnabhumi international airport broke out, Mr Charnchai said. Mr Charnchai said he planned to go to Japan to look further into the investigation.

Source:
Business in Asia Today - July 9, 2008
published by Asia Pulse

Business: Enterprises Harness the power of unified communications

Enterprises Harness the power of unified communications Frost & Sullivan to Host the 2nd annual Unified Communications Summit on July 31, 2008, at Sheraton Towers, Singapore

Singapore (BUSINESS WIRE) - Unified communications has altered the way business communication takes place today. Unified communications or commonly known as UC, is a productivity tool which results in increased responsiveness and time savings. It enables to improve the way companies, individuals and groups interact, significantly.

Enterprises have begun to make large investments to deploy modern means to enhance productivity and collaborate effectively with remote or mobile workers. According to a recent Frost & Sullivan analysis on UC in Asia Pacific, the revenues earned by the regional market stood at US$4.03 billion in 2007 and is estimated to reach US$8.17 billion by end of 2014 growing at a compound annual growth rate (CAGR) of 10.6 percent.? Incorporating email and telephony into the operation have been the commonly used form of UC that were deployed by businesses around the world. Today with technological advancement coupled with the knowledge of such availabilities prevalent among users, UC integrates telephony, e-mail, instant messaging, unified messaging, mobility, presence, video, audio and web conferencing and collaboration. It allows users to access real-time information and communicate via a plethora of devices and tools. Through unifying and streamlining communication via such deployments, organisations have closed the gap in inefficiencies within enterprise communications spectrum.

"Pace of business and the level of competition have increased dramatically over the last 5 years. Rising customer expectations, increasing mobile workforce and the growing competition is driving the need for enterprises to be agile and quick to respond to the changing market dynamics. Enterprises are beginning to realise the role of communication in achieving this agility and enhanced productivity." says Frost & Sullivan industry manager Shivanu Shukla.

While time-saving and work efficiency are undeniably attractive factors for UC deployments, organisations are also leveraging UC to enhance customer service. Enterprises are extending UC to contact centers to enhance the overall customer experience and route critical customer interactions based on presence of an expert in the enterprise.

Such and many more vital issues on UC will be raised and discussed at length at Frost & Sullivan2nd Annual Unified Communications summit. This one day executive MindXchange will be held on Thursday, July 31, 2008 at the Sheraton Towers in Singapore. The summit will provide latest insights on the UC market in APAC and explore future trends for its development,
while discussing issues that often get cited by the management for lack of utilisation of the complete spectrum of UC besides sharing actual implementations of UC along with illustrations of the benefits of incorporating a full-servicing UC capability within business operations.

The summit is sponsored by Avaya, Aspect and Plantronics. Business Today, Enterprise Innovation, Network World Asia and ZDNet Asia are the official media partners, while the Association of Telecommunications Industry of Singapore (ATiS) is a supporting organisation for the summit.

For more information/registration details, please visitwww.frost-uc.com.

Media passes are available to the press. To register for the summit, you may also send an email to Neethiya Sadagopal, Corporate Communications at neethiya.sadagopal@frost.com with your full name, media/company name, title, telephone number, fax number and email.

About Frost & SullivanFrost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com.

Asia Pacific Unified Communications Market study, which is a part of the Enterprise Communications Growth Partnership Service program offered by Frost & Sullivan Frost & SullivanCorporate Communications ? Asia PacificNeethiya Sadagopal, +65.6890.0966 neethiya.sadagopal@frost.com or Surbhi
Dedhia, +65.6890.0926 surbhi.dedhia@frost.com

Technology: CDMA Dev't Group and Int'l 450 association join forces to strengthen industry

Consolidation will streamline resources, increase regional focus and enhance value of services provided to member companies

Costa Mesa, Calif. (PRIME NEWSWIRE) - The CDMA Development Group (CDG) today announced that the International 450 Association (IA450) has been incorporated as part of the CDG in an effort to broaden its reach and tap into additional resources to support global CDMA450 initiatives and provide increased benefits for its member companies. The merged IA450 will become a CDMA450 Special Interest Group (SIG) within the CDG, continuing its leadership role in promoting CDMA450 worldwide.

As a result of the unanimous vote to merge on June 12, 2008, current members in good standing of the IA450 now have full access to the services offered by the CDG and are eligible for Executive Board membership. Additionally, as CDG members, they will be able to participate on the CDG's technical, advocacy, International roaming and device strategy teams, which help to
set the direction of the industry.

"Having the International 450 Association as part of the CDG will enrich our efforts to expand the benefits of CDMA450 around the world," said Perry LaForge, executive director of the CDG. "This will further strengthen the ability for CDMA2000 in the 450 MHz band to succeed in rapidly growing emerging markets, such as Africa, Eastern Europe, Latin America, the Middle East, Southeast Asia and Russia."

The IA450 promotes the use of CDMA2000 in the 450 MHz band throughout the world, supporting industry standards and spectrum harmonization efforts to advance the deployment of the technology. CDMA450 is commercially available from 88 operators in 50 countries and is rapidly becoming the technology of choice for emerging markets and rural geographies by taking advantage of the spectral efficiency and high-speed data capabilities of CDMA2000 and the expanded coverage afforded by a lower frequency band.

"The IA450 has succeeded in establishing CDMA450 as one of the most advanced and economically viable solutions for providing 3G services to both rural and urban settings," said Tina Radford, chairman of the IA450. "Combining our efforts with the CDG will broaden our ability to satisfy the increasing demand for affordable telephony and broadband data services in emerging markets. Building upon the momentum we have created, we look forward to working with the CDG to further accelerate the adoption of CDMA450."
More information on CDMA is available at www.cdg.org.

About IA450

The International 450 Association promotes the use of CDMA2000(r) in the 450MHz spectrum and surrounding bands (CDMA450) on a global basis. The primary focus is to provide guidance and support to Operators around the world interested in deploying CDMA450 technology and propose policy positions and recommended actions relating to regulatory and standards matters at a national, regional, and international level. More information about the International 450 Association can be found on the IA450 web site at www.450world.org

About CDMA2000

CDMA2000 is the most widely deployed 3G technology, with 257 operators in 98 countries serving more than 438 million subscribers. Counting 2G cdmaOne(tm) subscribers, there are more than 451 million CDMA users worldwide. CDMA2000 has become the technology of choice for developed and emerging market operators, and is deployable in the 450, 700, 800, 1700, 1900,AWS and 2100 MHz bands. More than 2,005 CDMA2000 devices from over 110 suppliers have been introduced to the market, including more than 520 Rel. 0 and 65 Rev. A devices on 100 CDMA2000 1xEV-DO Rel. 0 and 42 Rev. A systems. More information on CDMA2000 is available on the CDG Web site at www.cdg.org.

About CDG

The CDMA Development Group is a trade association formed to foster the worldwide development, implementation and use of CDMA2000 technologies. The more than 130 member companies of the CDG include many of the world's largest wireless carriers and equipment manufacturers. The primary activities of the CDG include development of CDMA2000 features and services, public relations, education and seminars, regulatory affairs and international support. Currently, there are more than 500 individuals working within various CDG subcommittees on CDMA2000-related matters. For more information about the CDG, contact the CDG News Bureau at +1-714-540-1030, or visit the CDG Web site at www.cdg.org.

The CDG logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2911

Note to editors
cdmaOne is a registered trademark of the CDMA Development Group. CDMA2000 and CDMA450 are registered trademarks of the
Telecommunications Industry Association (TIA-USA). All other trademarks are the property of their respective owners.
-0-
CONTACT: CDG News Bureau
Ricca Silverio
+1 714-540-1030
rsilverio@bockpr.com

Business: Shanghai Century Acquisition Corp announces results of GM

New York (BUSINESS WIRE) - Shanghai Century Acquisition Corporation (AMEX: SHA) announced that the proposal to appoint Cosimo Borrelli and Jacqueline Walsh, both of Borrelli Walsh Limited, to act jointly and severally as liquidators of the Company in relation to the Company's voluntary liquidation was approved by the shareholders of Shanghai Century at its General and Extraordinary Meeting held on July 8, 2008.

The Liquidators' responsibilities include, but are not limited to, undertaking an independent assessment, evaluation and settlement of the Company's creditors; and making pro rata distributions to the holders of securities from the trust account (the "Trust Account") of the Company into which the net proceeds of the Company's initial public offering were deposited (plus (i) one-half of the interest earned on the Trust Account and (ii) any remaining net assets).
The per share distribution amount will not be determined until after the Liquidators have evaluated and paid the creditors' claims and may be less than the initial public offering price of US$8.00 per unit, assuming the entire amount of the Trust Account is available for distribution. No payments will be made in respect of the outstanding warrants (which have expired worthless) or to any of its initial shareholders with respect to the shares owned by them prior to the initial public offering.

Cosimo Borrelli is a chartered accountant with over 20 years of experience in formal and informal corporate restructuring, insolvency, forensic accounting and financial investigations.
Jacqueline Walsh is a qualified lawyer in Hong Kong and the United States with over 14 years of experience in formal and informal corporate restructuring, insolvency, court and private receiverships and financial investigations.
Shanghai Century Acquisition Corporation was formed for the purpose of acquiring, through a share exchange, asset acquisition or other similar business combination, or control through contractual arrangements, an operating business having its primary operations in China. In April 2006 the Company raised US$115 million through an initial public offering on the American Stock Exchange. Shanghai Century Acquisition Corporation's principal offices are in Hong Kong.

Shanghai Century Acquisition Corporation
Franklin D. Chu, +852-2854-1118 Co-Chief Executive Officer &
Director
fchu@shanghai-century.com

Business: Taiyo Fund takes significant stake in Disco (6146) to over 5%

Tokyo (ANTARA News/PRNewswire-AsiaNet) - The Taiyo Fund announced today that it has accumulated a position in excess of 5% in Disco Corp (6146) to become its fifth largest shareholder. The Taiyo Fund is known for its cooperative investment style working with senior management to enhance shareholder value.

Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, said, "We are impressed by Disco's strong market-oriented management team and visionary R&D capabilities. Disco's long term relationships with clients and superior market position make it an attractive core holding. We highly value our friendly and interactive relationship with management and are confident they will generate ongoing value for shareholders."

Wilbur L. Ross Jr., Chairman of the Taiyo Fund investment committee said, "As the world's leading maker of precision dicing and grinding equipment, Disco's technologies play an instrumental role in helping the semiconductor industry continue to push technological boundaries and manufacture smaller and thinner chips that enable the consistently growing mobile electronics market. We are proud to be invested in this global niche leader and high quality company."

Mr. Hitoshi Mizorogi, President of Disco, commented, "I am grateful that the Taiyo Fund, a friendly investor with a long term approach, has come to truly understand Disco's management philosophy. Through managing the company in a transparent way based on "DISCO VALUES", we will work to maintain a friendly and mutually beneficial relationship that increases the exchange of value with all stakeholders."

The Taiyo Fund was organized in July 2003 with an initial equity investment of $200 million by CalPERS, the State of California Public Employees Retirement System. The Fund currently has over $1.4 billion under management. The Fund is co-managed by Taiyo Pacific Partners LP and by WL Ross & Co. LLC. Taiyo Pacific Partners, located in Monterey, California, was founded in 2003 by bilingual professionals dedicated to friendly shareholder activism in Japan.

SOURCE Taiyo Fund
CONTACT: Brian K. Heywood,
+1-831-372-9601,
bheywood@tppllc.com,
or
Wilbur L. Ross,
+1-212-826-2111,
wlross@wlross.com,
both for Taiyo Fund

Health/Medical: Gates Foundation welcomes G8 commitments, pledges US$150 million

Foundation announces additional $150 million for Polio Eradication

Seattle (ANTARA News/PRNewswire-AsiaNet) - The Bill & Melinda Gates Foundation released the following statement regarding the G8 Summit:

The Bill & Melinda Gates Foundation welcomes the renewed commitment by leaders of the Group of Eight countries to address some of the worlds most pressing health and development challenges. There is now a critical test for G8 governments: to follow through on the commitments announced this year, and in previous years, by translating what they have agreed into actual financial outlays that support the efforts of poor countries and communities to overcome poverty and disease.

The course will be difficult but, given the increased pressure on the worlds poorest from global energy and food market prices, the need for action is especially urgent. The G8 leaders have again called on the private and non-governmental sectors to help governments address the development and health challenges. The Bill & Melinda Gates Foundation stands ready to work with G8 governments and our other public and private partners to fulfill these important promises.

The foundation supports the G8's expanded vision for strengthening health systems, its continued commitment to fight infectious disease, and its recognition of the importance of water and sanitation to development and health outcomes. We welcome the new focus on accountability regarding prior aid commitments. The G8 have created an important new mechanism that allows past and current spending on HIV/AIDS, tuberculosis, malaria, and polio to be tracked and monitored transparently. We urge the G8 to strengthen this accountability mechanism next year by expanding the concept to include not only future spending plans but also other G8 commitments in global development.

The foundation welcomes the G8's important renewal of their commitment to meet or exceed their previous financial contributions to polio eradication. We strongly encourage all the G8 countries to translate their Hokkaido and Gleneagles polio commitments into real financial resources and focused action. We will work with the international community, including the four polio endemic countries, to reach our shared objective of early eradication.

In recognition of the G8's continued attention to polio eradication, the foundation will commit at least US$150 million to fight polio this year. This is in addition to the US$250 million we have committed to date toward polio eradication efforts. We will continue to work closely with governments and with the private and non-governmental sectors to ensure that, together, we fulfill the political and financial commitments necessary to eradicate this disease.

The foundation commends the G8's enhanced commitment to tackle neglected tropical diseases (NTDs), which affect one billion of the worlds poorest citizens. We hope the G8's pledge today will be followed by robust financial commitments over the next year. In this vein, we hope the G8 also will add NTDs to the G8 financial tracking mechanism. We stand ready to work with the G8 and other actors to develop a concrete program of investments that all sectors of the international community can support.

The Bill & Melinda Gates Foundation applauds the G8's focus on food security and agricultural development. Importantly, the G8 recognizes that addressing the emergency food crisis requires not only immediate financial resources for food assistance but also that the worlds major donors focus their attention and financial resources on longer term agricultural development, an area that has experienced a dramatic decline in resources over the past two decades.

We therefore strongly support the G8's commitment to investing in longer term agricultural development and its particular focus on increasing agricultural productivity in Africa. The foundation has committed over US$700 million to agricultural development, including support for the establishment of the Alliance for a Green Revolution in Africa, and we are focusing our efforts on small scale farmers, particularly in sub-Saharan Africa. In that regard, we appreciate the G8's focus on small scale agriculture, and its reference to the need for increased research and development and the training of developing country scientists.

We look forward to working with developing country farmers, scientists and governments, G8 and other donors, multilateral organizations, the private sector, and the non-governmental community to tackle the pressing problems facing small-scale farmers throughout the developing world, which have been made even more acute as the result of the current food crisis. We hope the G8's commitments this year are matched by the very real financial resources that will be needed to accomplish these important goals.

The Bill & Melinda Gates Foundation appreciates the Japanese Government's leadership at this year's G8 summit. We look forward to working with all the G8 governments and other actors on the critical task of translating the important commitments made this year into the tangible financial investments needed to advance global health and development.

Bill & Melinda Gates Foundation

Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people's health and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to ensure that all people - especially those with the fewest resources - have access to the opportunities they need to succeed in school and life. Based in Seattle, the foundation is led by CEO Patty Stonesifer and co-chair William H. Gates Sr., under the direction of Bill and Melinda Gates and Warren Buffett.

SOURCE Bill & Melinda Gates Foundation
CONTACT: Media Relations Department,
Bill & Melinda Gates Foundation,
+1-206-709-3400,
media@gatesfoundation.org

Business: A.M. Best affirms ratings of Hang Seng Life Limited

Assigns ratings to Hang Seng Insurance Company Limited

Oldwick, N.J. (BUSINESS WIRE) - A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) (FSR) and the issuer credit rating (ICR) of "aa-" of Hang Seng Life Limited (HSL) (Hong Kong). The outlook for both ratings is stable.

Subsequently, A.M. Best has withdrawn both ratings and assigned a category NR-3 (Rating Procedure Inapplicable) to HSL in response to the sale of 100% of its shareholdings, as well as the transfer of its entire life insurance portfolio to Hang Seng Insurance Company Limited (Hang Seng Insurance) (Hong Kong) effective November 19, 2007.

Concurrently, A.M. Best has assigned an FSR of A+ (Superior) and an ICR of "aa-" to Hang Seng Insurance. The outlook for these ratings is stable.

The ratings are based on an analysis of the long-term business of Hang Seng Insurance. The assigned ratings reflect the company's improved market presence, adequate level of risk-adjusted capitalization and historically profitable operating performance. The ratings also recognize the company's secured distribution capabilities gained from its immediate parent, Hang Seng Bank.

Hang Seng Insurance has strengthened its position in its designated market, despite increased market competition in the local life insurance industry. The company captured a 6.2% share of the direct in-force individual life market in 2007, compared to 5.8% in 2006.

Being a wholly owned subsidiary of Hang Seng Bank, the company is capable of accessing the mass market through the banking branches of its parent. Hang Seng Insurance recorded a robust new business growth of 29% in its non-linked regular contribution products in 2007. Ongoing distribution support of the parent is expected to enable the company to sustain its
business growth going forward.

Overall operating performance has improved over the past five years. In addition to a relatively stable lapse and favorable mortality experiences, strong investment earnings have contributed favorably to Hang Seng Insurance's overall operating profitability during the same period. Operating efficiency has improved through achieving greater economies of scale due to the growth of its insurance book. Embedded value grew by 20.6% in 2007 from the prior year. A.M. Best expects that the company's premium growth momentum and consistent investment earnings will further enhance its embedded value.

These strengths are partly offset by the increased pressure on risk-adjusted capitalization. Sustained business growth led to a considerable increase in asset size, in particular equities investment for 2007, which placed considerable stress on Hang Seng Insurance's risk-adjusted capitalization, although it remains at a level commensurate with its ratings. Further strengthening of the company's capitalization on a risk-adjusted basis is essential for its future business growth.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.
For more information, visit www.ambest.com.

A.M. Best Co.
Analysts
Stella Ng, +852-2827-3407 stella.ng@ambest.com or Terrence
Wong, +852-2827-3403 terrence.wong@ambest.com
or Public Relations
Jim Peavy, +(1) 908 439 2200, ext. 5644
james.peavy@ambest.com
or Rachelle Morrow, +(1) 908 439 2200, ext. 5378
rachelle.morrow@ambest.com