GE Corporate Lending Provides $197 Million Asset-based Credit Facility to Steve & Barry’s

GE Commercial Finance Corporate Lending today announced it provided a $197 million asset-based credit facility to Steve & Barry’s, a national apparel and accessories retailer. The loan will be used for ongoing working capital needs. GE Capital Markets arranged the transaction.

From more than 250 stores across the U.S., Port Washington, New York-based Steve & Barry’s offers private label and licensed apparel for the whole family at bargain prices. Steve Shore and Barry Prevor founded the company in 1985 selling discounted college apparel to students from stores situated near U.S. universities. In recent years, the company has attracted new shoppers by creating exclusive collections with Sarah Jessica Parker, Venus Williams, Amanda Bynes, Stephon Marbury and others.

“With specialists in retail, GE quickly understood our growth plans and structured a loan tailored to meet our working capital needs,” said Barry Prevor, co-founder and co-CEO of Steve & Barry’s. “GE’s access to capital and ability to make significant commitments also helped accelerate the financing process.”

“We’re dedicated to meeting the unique capital requirements of retailers,” said Jim Hogan, managing director of GE Corporate Lending's Retail group. “Providing smarter financing solutions to help retailers compete in an ever-changing environment is our focus.”

Industry Specialization

To better meet the unique financing needs of customers, GE Corporate Lending has a team of Industry Leaders supported by dedicated research analysts. These industry experts help build smarter financing solutions for companies across key industries: Aerospace & Defense; Automotive; Chemicals & Plastics; Construction; Food, Beverage & Agribusiness; Financial & Business Services; Forest Products; General Manufacturing; Metals and Mining; Retail; Technology & Electronics; and Transportation.

About GE Corporate Lending

With $14 billion in assets, GE Commercial Finance Corporate Lending is one of North America’s largest providers of asset-based, cash flow, structured finance and other financial solutions for mid-size and large companies. From over 30 offices throughout the U.S. and Canada, GE Corporate Lending specializes in serving the unique needs of borrowers seeking $20 million to $2 billion and more for working capital, growth, acquisitions, project finance and turnarounds. In addition, Access GE provides clients with access to GE management best practices to improve business performance. Visit www.gelending.com/clnews to learn more.

About GE Commercial Finance

GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $300 billion and is headquartered in Norwalk, Connecticut. GE (NYSE: GE) is Imagination at Work – a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.

Hill International, Inc. Celebrates Transfer to the NYSE from Nasdaq

Hill International, a leading provider of program management, project management, construction management and constructions claims services, began trading today on the New York Stock Exchange under the ticker symbol “HIL” after transferring its listing to the NYSE from Nasdaq. Hill International joined the NYSE as the first transfer from Nasdaq this year.

“We are pleased to welcome Hill International to our growing family of NYSE-listed companies and look forward to an outstanding and long lasting partnership with the company,” said Noreen M. Culhane, NYSE Executive Vice President, Global Corporate Client Group.

“Today was a tremendous milestone for our company and for me personally, having started Hill as a one-man consulting firm 32 years ago,” said Irwin E. Richter, Hill Chairman and CEO. “Joining the NYSE more than three decades later is a great accomplishment for our company and our employees,” Richter added.

Irvin E. Richter, together with President and COO David L. Richter and other senior Hill executives, commemorated the transfer to the NYSE by ringing today’s Opening Bell.

Hill International (NYSE: HIL)
Hill International, with 1,800 employees in 70 offices worldwide, provides program management, project management, construction management, and construction claims services. Engineering News-Record magazine recently ranked Hill as the 10th largest construction management firm in the United States.

About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $30.5 trillion/€20.9 trillion in total global market capitalization (as of Dec. 31, 2007), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $141 billion/€103 billion (as of Dec. 31, 2007), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.

New York Stock Exchange To Suspend, Apply to Delist American Depositary Shares of Quilmes Industrial (Quinsa), Société Anonyme ("Quinsa")

The New York Stock Exchange announced today that trading in the American Depositary Shares of Quilmes Industrial (Quinsa), Société Anonyme ("Quinsa") - ticker symbol "LQU" - will be suspended immediately. Following suspension, application will be made to the Securities and Exchange Commission to delist the issues.
Trading was suspended after the public tender offer by Companhia de Bebidas das Américas - AmBev ("AmBev") [NYSE: ABV, ABV.C] to purchase up to 5,483,950 Class A shares and up to 8,800,060 Class B shares (including Class B shares held as American Depositary Shares ("ADS") of its subsidiary Quilmes Industrial (Quinsa), Société Anonyme ("Quinsa") announced on December 21, 2007. As a result, Quinsa advised the NYSE that 114,311 American Depositary Shares remained outstanding after the expiration of the offer.

The NYSE said it normally considers suspending and removing from its list the securities of a company when the number of outstanding American Depositary Shares, representating common securities, is less than 600,000.

Sun Microsystems Announces Agreement to Acquire innotek, Expanding Sun xVM Reach to the Developer Desktop

Sun Microsystems, Inc. (NASDAQ: JAVA) today announced that it has entered into a stock purchase agreement to acquire innotek, the provider of the leading edge, open source virtualization software called VirtualBox. By enabling developers to more efficiently build, test and run applications on multiple platforms, VirtualBox will extend the Sun xVM platform onto the desktop and strengthen Sun's leadership in the virtualization market.


With over four million downloads since January 2007, innotek's open source VirtualBox product has been quickly established as one of the leading developer desktop virtualization platforms. Now, as part of the Sun xVM portfolio, VirtualBox will have the support of Sun's global development community, field resources and partners to make VirtualBox even more compelling to developers and end users, driving greater adoption across a broad set of communities. VirtualBox enables desktop or laptop PCs running the Windows, Linux, Mac or Solaris operating systems to run multiple, different operating systems side-by-side, switching between them with just a click of the mouse. This allows software developers to more easily build multi-tier or cross-platform applications, or power-users to take advantage of applications that may not be available for their base operating system of choice.

"VirtualBox provides Sun with the perfect complement to our recently announced Sun xVM Server product," said Rich Green, executive vice president, Sun Software. "Where Sun xVM Server is designed to enable dynamic IT at the heart of the datacenter, VirtualBox is ideal for any laptop or desktop environment and will align perfectly with Sun's other developer focused assets such as GlassFish, OpenSolaris, OpenJDK and soon MySQL as well as a wide range of community open source projects, enabling developers to quickly develop, test and deploy the next generation of applications."

VirtualBox is open source, and can be freely downloaded without the hassle of payment or frustrating license keys at virtualbox.org or openxvm.org. The download is less than 20 megabytes and the software is easily installed on any modern, x86 architecture laptop or desktop system running Windows, Linux, Mac and Solaris operating systems, in just minutes. Supported guest operating systems include all versions of Windows from 3.1 to Vista, Linux 2.2, 2.4 and 2.6 kernels, Solaris x86, OS/2, Netware and DOS.

The Sun xVM family of products uniquely integrates virtualization and management to help customers better manage both physical and virtualized assets across heterogeneous environments. Previously announced products in the Sun xVM line include Sun xVM Server and Sun xVM OpsCenter. Sun xVM Server is a datacenter grade, bare-metal virtualization engine with advanced features such as live VM migration and dynamic self-healing, and can consolidate Windows, Linux and Solaris operating system instances. Sun xVM Ops Center is a unified management infrastructure for both physical and virtual assets in the datacenter. Sun has announced partnerships and endorsements for xVM with Microsoft, RedHat, Intel, AMD, Symantec and Quest Software. More information about Sun xVM solutions can be found at: http://www.sun.com/xvm.

The agreement to acquire innotek follows Sun's announcement on January 16 of a definitive agreement to acquire MySQL, the world's most popular open source database. These acquisitions reaffirm Sun as the largest commercial open source contributor.

The stock purchase agreement to acquire innotek is subject to customary closing conditions and is expected to be completed during the third quarter of Sun's 2008 fiscal year. The terms of the deal were not disclosed as the transaction is not material to Sun's earnings per share.

About innotek

innotek is an internally funded software company located in Stuttgart, Germany with offices in Dresden, Berlin and the Russian Federation. Its team of international specialists has focused entirely on the development of high-tech system software. innotek has been at the forefront of PC virtualization technology since 2001 and now staffs Europe's largest and most experienced team of PC software virtualization experts with numerous Fortune 500 and government customers.



About Sun Microsystems, Inc.
Sun Microsystems develops the technologies that power the global marketplace. Guided by a singular vision -- "The Network is the Computer" -- Sun drives network participation through shared innovation, community development and open source leadership. Sun can be found in more than 100 countries and on the Web at http://sun.com.

Bank of America Corp. and Chevron Corp. will replace Altria Group, Inc., and Honeywell International, Inc., in the Dow Jones Industrial Average

Bank of America Corp. and Chevron Corp. will replace Altria Group, Inc., and Honeywell International, Inc., in the Dow Jones Industrial Average, effective with the opening of trading on February 19, Dow Jones & Company announced.
These changes are the first in the 111-year-old stock index since April 8, 2004, when three stocks out of 30 were replaced.

"The catalyst for these changes is the restructuring in progress at Altria, which will result in a much smaller and more narrowly focused company," said Marcus W. Brauchli, managing editor of The Wall Street Journal. The Journal's top news editor oversees the makeup of "The Dow," which Charles H. Dow created as a 12-stock index in May 1896 and today is the best-known stock-market barometer in the world.

"As usual when we make any change we review all the stocks," Mr. Brauchli said. "In doing so, we saw that the financials industry was under-represented – notwithstanding the current turbulence – and that the oil and gas industry’s growing importance to the world economy called for another representative to join ExxonMobil Corp," he said.

John A. Prestbo, editor of Dow Jones Indexes, said, "There are no pre-determined criteria for a stock to be added or deleted, though we intend that all components be established U.S. companies that are leaders in their industries." For the sake of continuity, composition changes are intentionally rare, Mr. Prestbo said.

Altria, formerly Philip Morris Cos., has been in the industrial average since Oct. 30, 1985. It adopted its current name in 2003. Last year it spun off Kraft Foods, Inc. It has announced the spin-off next month of Philip Morris International, Inc., which will leave it as a purely domestic tobacco company.

Honeywell is being dropped because it is the smallest of the industrials in terms of revenue and earnings. Additionally, the role of industrial companies relative to the overall stock market has been shrinking in recent years, Mr. Brauchli said. AlliedSignal acquired Honeywell in late 1999 and adopted that name for the new entity. The predecessor of AlliedSignal was Allied Chemical & Dye Corp., formed in 1920 and added to The Dow on Dec. 7, 1925.

Chevron has been in the industrial average twice before. The first time, as Standard Oil Co. of California, was from February 1924 to August 1925. The company re-joined The Dow in 1930, but was replaced on Nov. 1, 1999. The Chevron name was adopted in 1984.
The changes won't cause any disruption in the level of the index. The divisor used to calculate The Dow from its components' prices on their respective home exchanges will be changed prior to the opening on February 19. This procedure prevents any distortion in The Dow's reflection of the U.S. stock market.

For more information, see the web site of Dow Jones Indexes at http://www.djindexes.com. The Dow Jones Transportation Average, Dow Jones Utilities Average and Dow Jones Composite Average also are members of the Dow Jones Averages family.

SEC Charges Ritchie Capital Management, CEO and Other Employees for Illegal Late Trading Scheme

The Securities and Exchange Commission today announced a settled enforcement action against a hedge fund, its investment adviser, its founder and CEO, and two employees for their roles in an illegal late trading scheme.

The SEC charged hedge fund Ritchie Multi-Strategy Global Trading Ltd. and its Chicago-based adviser — Ritchie Capital Management LLC — as well as Ritchie Capital’s founder and CEO A.R. Thane Ritchie and employees Warren DeMaio and Michael Mauriello. They will pay a combined total of approximately $40 million to settle the SEC’s charges. These payments will be distributed to the affected mutual funds.

“This action demonstrates the Commission’s willingness to take strong action against hedge fund advisers and their employees when they violate the federal securities laws. Here, respondents did so by engaging in illegal late trading in mutual funds,” said Linda Chatman Thomsen, Director of the SEC’s Division of Enforcement.

Merri Jo Gillette, Director of the SEC’s Chicago Regional Office, said, “Ritchie Capital concealed its late trading by receiving pre-4 p.m. time-stamps on its order tickets. The respondents’ attempt to cover their tracks by using falsified order tickets merely underscores the egregiousness of the fraudulent scheme and commends the thorough and tenacious investigative work that uncovered it.”

The Commission’s Order finds that from January 2001 through September 2003, Ritchie Capital engaged in an illegal late trading scheme. Ritchie Capital placed thousands of late trades in mutual fund shares and used post-4 p.m. ET news and market information to make its mutual fund trading decisions while receiving the same day’s net asset value for the mutual funds traded. Thane Ritchie approved the use of late trading by Ritchie Capital’s mutual fund group and oversaw its performance. DeMaio supervised mutual fund trading at Ritchie Capital and was involved in the development of the late trading strategy. Mauriello was responsible for placing mutual fund late trades with brokers on behalf of Ritchie Capital. Ritchie Capital’s post-4 p.m. trading resulted in a profit of approximately $30 million to the Ritchie Multi-Strategy fund.

The Commission’s Order requires Ritchie Multi-Strategy Global Trading Ltd. and Ritchie Capital Management LLC to pay disgorgement, jointly and severally, of $30 million, and prejudgment interest thereon of approximately $7.4 million. Ritchie Capital and Ritchie will pay civil penalties, jointly and severally, totaling $2.5 million. DeMaio will pay $250,000 in civil penalties. These payments will be distributed to the affected mutual funds.

In addition to the disgorgement and civil penalties, the Commission’s Order requires that Ritchie Capital, the Ritchie Multi-Strategy fund, Thane Ritchie and Warren DeMaio cease and desist from committing or causing violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, Section 17(a) of the Securities Act of 1933, and Rule 22c-1 under the Investment Company Act, and that Ritchie Capital be censured and comply with certain undertakings. The Order also requires that Mauriello cease and desist from committing or causing violations of Rule 22c-1 under the Investment Company Act.

All respondents consented to the Commission’s Order without admitting or denying the findings. The Commission’s action was taken in coordination with the Office of the New York State Attorney General.

SEC Charges Former Dow Jones Board Member, Three Other Hong Kong Residents in $24 Million Insider Trading Settlement

The Securities and Exchange Commission today announced a $24 million settlement with a former Dow Jones & Company board member and three other Hong Kong residents accused of illegal tipping and insider trading ahead of news of an unsolicited buyout offer from News Corporation that sent Dow Jones shares soaring last spring.

The SEC's complaint filed in the U.S. District Court for the Southern District of New York alleges that David Li Kwok Po, a Dow Jones board member at the time who also is Chairman and CEO of the Bank of East Asia and a member of Hong Kong's Legislative Counsel and Executive Committee, learned of the then-secret News Corp. offer and illegally tipped his close friend Michael Leung Kai Hung.

The SEC complaint also alleges that Leung, with the help of his daughter Charlotte Ka On Wong Leung and son-in-law Kan King Wong purchased approximately $15 million worth of Dow Jones securities in their account at Merrill Lynch. They stood to make approximately $8 million in illicit profits had the SEC not won an emergency court order within days of the News Corp. offer, freezing the account and stopping the money from moving half a world away.

"Protecting the integrity of our markets in today's world of global trading and instant communications requires real-time enforcement across national borders," said SEC Chairman Christopher Cox. "This case makes clear that the SEC will move fast, and decisively, not only in the United States but around the world to protect investors from insider dealings and threats to fair and open markets. It also illustrates the value of the significant international partnerships we are developing with our regulatory partners in other nations."

"Insider trading on merger and acquisition information continues to be a top enforcement priority," said Linda Chatman Thomsen, Director of the SEC's Division of Enforcement. "We hope this case sends a forceful reminder to corporate insiders that they need to exercise careful discretion when discussing important business matters outside the boardroom and executive suite."

Cheryl J. Scarboro, Associate Director in the Division of Enforcement, added, "Tipping and trading by corporate insiders corrupts our markets, and today's action demonstrates our ability to stop this type of misconduct in its tracks - no matter where it occurs and who is involved."

Without admitting or denying the Commission's allegations, David Li, Michael Leung, K.K. Wong and Charlotte Wong consented to the entry of court orders enjoining them from violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. David Li is ordered to pay an $8.1 million civil penalty. Michael Leung is ordered to pay $8.1 million in disgorgement plus prejudgment interest and an $8.1 million penalty. K.K. Wong is ordered to pay $40,000 in disgorgement plus prejudgment interest and a $40,000 civil penalty.

The SEC previously filed an emergency action against the Wongs on May 8, 2007, in U.S. District Court for the Southern District of New York for alleged trading on inside information. The court entered a Temporary Restraining Order freezing assets and imposing other relief (see LR-20106). In its amended complaint filed today, the Commission also alleges that K.K. Wong bought 2,000 Dow Jones shares in his TD-Ameritrade account and made approximately $40,000 in profits.

The Commission acknowledges the assistance of Merrill Lynch & Co. and the Hong Kong Securities and Futures Commission in this matter.