Cephalon, Inc. to Join the NASDAQ-100 Index Beginning June 1, 2007

Cephalon, Inc. (Nasdaq:CEPH) of Frazer, Pennsylvania, will become a component of the NASDAQ-100 Index(r) (Nasdaq:NDX), the NASDAQ-100 Equal Weighted Index (Nasdaq:NDXE), and the NASDAQ-100 Ex-Tech Sector Index (Nasdaq:NDXX) prior to market open on Friday, June 1, 2007. Cephalon, Inc. will replace MedImmune, Inc. (Nasdaq:MEDI).

With a market capitalization of approximately $5.3 billion, Cephalon, Inc. discovers, develops, and markets biopharmaceutical products to treat neurological disorders and cancer.

The NASDAQ-100 Index, launched in January 1985, is one of the most widely followed benchmarks in the world.

Genworth Financial Completes Sale Of Group Benefits Unit

Genworth Financial, Inc. (NYSE: GNW) said today that it had completed the previously announced sale of its employee benefits group (EBG) business to Sun Life Financial, Inc. Proceeds from the transaction will be used to fund core growth and other capital priorities, including acquisitions, share repurchase, dividends or debt repayment.
"We are pleased to complete this transaction," said Michael D. Fraizer, chairman and chief executive of Genworth. "It allows us to sharpen our focus and allocate capital to opportunities which create future growth and improve returns for our shareholders."

About Genworth Financial

Genworth is a leading financial security company meeting the retirement, longevity, lifestyle protection, investment and mortgage insurance needs of more than 15 million customers, with a presence in 25 countries. For more information, visit http://genworth.com.

SEC Settles With Mercury Interactive and Sues Former Mercury Officers for Stock Option Backdating and Other Fraudulent Conduct

The Securities and Exchange Commission today filed civil fraud charges in federal district court for the Northern District of California against California-based software maker Mercury Interactive, LLC (formerly known as Mercury Interactive Corporation) and four former senior officers of Mercury — former Chairman and Chief Executive Officer Amnon Landan, former Chief Financial Officers Sharlene Abrams and Douglas Smith, and former General Counsel Susan Skaer. The SEC alleges that the former senior officers perpetrated a fraudulent and deceptive scheme from 1997 to 2005 to award themselves and other employees undisclosed, secret compensation by backdating stock option grants, failing to record hundreds of millions of dollars of compensation expense, and falsifying documents to further this scheme.

The SEC also alleges that during this period Mercury, through Landan and at times Abrams, Smith or Skaer, made fraudulent disclosures concerning Mercury's "backlog" of sales revenues to manage its reported earnings, and structured fraudulent loans for option exercises by overseas employees to avoid recording expenses. Mercury, which was acquired by Hewlett-Packard Company on Nov. 8, 2006, after the alleged misconduct, settled the matter by agreeing to pay a $28 million civil penalty and to be permanently enjoined. The SEC's case against the four former officers is being litigated.

"The $28 million corporate penalty in this case, together with a permanent injunction, should send a clear signal that fraudulent stock option backdating and other financial fraud will be severely punished," said SEC Chairman Christopher Cox. "The Commission's Enforcement Division will reinforce that principle by vigorously pursuing the charges against the individuals who were responsible. In this case as well as those that will follow, the SEC will do everything within our power to see to it that illegal options backdating is stamped out."

Linda Chatman Thomsen, Director of the Commission's Division of Enforcement, said, "The array of fraudulent conduct at Mercury Interactive over an eight year period, including backdating dozens of stock option grants, backdating senior executive stock option exercises, structuring of overseas option exercises to conceal expenses and concealing the true nature of its earnings, deprived Mercury Interactive's shareholders and the market of accurate information regarding executive compensation and the company's accounting for stock options. The widespread and pernicious misconduct — including lying to shareholders, intentionally false accounting, and fraudulent stock options backdating — in this case warrants the significant sanctions imposed on the company and sought from the former executives."

Christopher Conte, Associate Director of the Commission's Division of Enforcement, said, "The individual defendants charged today are alleged to have realized millions of dollars in illicit compensation and stock sale profits through their secret backdating scheme and to have deceived Mercury Interactive investors through repeated misrepresentations about the company's stock option practices and compensation costs. The Commission's first ever use of Section 304 of Sarbanes-Oxley — which allows the Commission to seek the repayment of bonuses and stock sale profits received by CEOs and CFOs where financial results are later restated — reflects the Commission's willingness to use all available remedies to deprive such senior officers of illicit gains."

The SEC's complaint alleges that from 1997 to 2002, Mercury, acting through Landan and at various times Abrams, Smith and Skaer, backdated the date on which stock options were granted to executives and employees. The backdating made it appear that the options were granted at times corresponding to low points of the closing price of the company's stock — despite the fact that the purported grant date bore no relation to when the grant was actually approved — and resulted in artificially and fraudulently low exercise prices for those options. The senior officers used hindsight to select the purported grant dates of the options, backdating the grants by anywhere from days to as much as over four months and making the grants in-the-money from 40 cents to $60 on the date they were actually approved. The complaint alleges that from 1997 through 2005, the accounting consequences of these benefits were then concealed as Landan, and at various times Abrams, Smith, Skaer and others, caused Mercury to fail to record over $258 million in compensation expenses and to provide false and misleading compensation disclosures to Mercury's shareholders in filings with the Commission. Mercury and the senior executives continued the backdating for years in spite of a specific change mandated and approved by shareholders in 1998 that required the exercise price of all employee options to be 100% of the fair market value of the company's stock on the grant date.

The SEC alleges that the company backdated 45 different stock option grants to executives and employees, representing every grant made by the company to executives and employees during 1997 to April 2002. As alleged in the complaint, Skaer, or others at her direction, prepared false documentation memorializing the grants, including false written consents and meeting minutes. The complaint alleges that Landan, Abrams, Smith and Skaer each personally benefited by receiving backdated stock options that were in-the-money by, in the aggregate, millions of dollars through the fraudulent scheme.

The complaint also alleges that from 1998 through 2001, Mercury, acting through Landan, Abrams and Skaer, fraudulently backdated the date of option exercises of certain senior Mercury officers. According to the complaint, senior executives were given preferential treatment and on multiple occasions were permitted to backdate the date of exercise of stock options with the company. The complaint alleges that these executives, including Landan and Abrams, backdated option exercises to dates consistent with low-points of the company's stock, in order to minimize their taxable gain on exercise or receive more favorable long-term capital gains treatment on profits they earned upon the later sale of the stock acquired through exercise. For example, the complaint alleges that in connection with three backdated exercises, Landan was able to underreport over $18 million in gains upon exercise. In fact, Landan and Abrams at times backdated the exercise of backdated option grants. The company concealed from its shareholders the benefits reaped by these executives by making fraudulent proxy disclosures relating to officer stock option exercises, while Landan, Abrams and Skaer also concealed the backdated exercises in Forms 4 filed with the Commission.

In addition, the complaint alleges that during at least 1997 through 2001, Mercury, through Landan, Abrams and others, secretly managed the company's reported earnings per share ("EPS") to meet or exceed financial analyst expectations by manipulating the recognition of revenue and making fraudulent disclosures concerning its sales orders. According to the complaint, Mercury stopped the shipment of its products once revenue targets for a period had been achieved, pushing the recognition of the revenue into subsequent periods. Between 1998 and 2001, this practice allowed the company to shift material amounts of revenue between reporting periods (from between $35 million to approximately $182 million in revenues). The company concealed the effect of this stop-shipment practice from the public through fraudulent and misleading statements and omissions concerning the "backlog" of its product bookings. Landan and Abrams understood that the backlog of revenues was material information that was being concealed from analysts and investors. For example, a 1999 PowerPoint presentation by Abrams to Landan and others concerning the company's financial picture stated in a slide: "Our Hidden Backlog . . . What Any Analyst Would Love to Get Their Hands On!"

Finally, the complaint alleges that during 1999 through 2005, at various times Abrams, Skaer, and others participated in the fraudulent structuring of loans for stock option exercises by overseas employees of the company in order to conceal the variable accounting consequences of those transactions, causing the company to fail to report approximately $24 million in required compensation expenses, which materially overstated the company's reported pre-tax earnings during this period.

Without admitting or denying the SEC's allegations, Mercury agreed to pay a $28 million civil penalty to settle the Commission's charges. Mercury also agreed to an injunction that permanently enjoins it from violating Section 17(a) of the Securities Act of 1933, Sections 10(b), 13(a), 13(b)(2)(A), 13(b)(2)(B), and 14(a) of the Securities Exchange Act of 1934, and Exchange Act Rules 10b-5, 12b-20, 13a-1, 13a-13, and 14a-9.

The complaint alleges that Landan, Abrams, Smith and Skaer violated or aided and abetted violations of the antifraud, record-keeping, financial reporting, internal controls, equity transaction reporting and proxy provisions of the federal securities laws. The complaint also alleges that Landan and Smith violated Exchange Act Rule 13a-14 by signing certifications required by Section 302 of the Sarbanes-Oxley Act of 2002 that were false and misleading concerning Mercury's 2002 through 2005 periodic reports. The SEC's complaint seeks against each of the individuals permanent injunctions, disgorgement with prejudgment interest, civil monetary penalties and officer and director bars. In addition, the complaint seeks against Landan and Smith reimbursement of bonuses and profits from stock sales pursuant to Section 304 of the Sarbanes-Oxley Act.

The Commission’s investigation is continuing.

Brocade to Pay $7 Million Penalty to Settle Charges for Fraudulent Stock Option Backdating

The Securities and Exchange Commission announced today the filing of a civil action against Brocade Communications Systems, Inc., a San Jose, Calif., computer networking company, for falsifying its reported income from 1999 through 2004. Brocade has agreed to pay a penalty of $7 million to settle the charges that it committed fraud through its former CEO and other former executives who repeatedly granted backdated stock options, misstated compensation expenses, and concealed the conduct by falsifying documents.

The Commission's complaint, filed today in federal court in San Francisco, alleges that Brocade's former CEO, President and Chairman, Gregory L. Reyes, routinely provided extra compensation to employees by granting valuable in-the-money stock options for which a financial statement expense was required. In order to avoid reporting to investors the hundreds of millions of dollars in undisclosed compensation expenses, Brocade's former executives allegedly concealed the fact that the options had been granted in-the-money by creating records making it falsely appear that the options had been granted at a lower price on an earlier date.

"This enforcement action clearly demonstrates the SEC will use all the weapons in our arsenal, including significant corporate penalties, to protect investors and combat fraudulent stock option backdating," said SEC Chairman Christopher Cox. "The Commission's Enforcement Division deserves particular credit for first discovering the pathology of fraudulent backdating, and then launching the broad investigation that led to today's result and those that will follow."

"Abusive options backdating is a serious financial fraud," said Linda Chatman Thomsen, Director of the Commission's Division of Enforcement. "Falsifying compensation expense is no less fraudulent than falsifying revenue, and we continue to be vigilant in policing fraudulent accounting practices."

Marc Fagel, Associate Regional Director of the Commission's San Francisco Regional Office, added, "Brocade is being held accountable for the egregious and long-running misconduct of its former CEO and other former executives who misled investors and obscured the company's financial condition and performance."

As the Commission alleged in its complaint against the company, as well as its earlier complaint against Reyes and other former executives, Brocade backdated dozens of grants for tens of millions of stock options. Among other things, Brocade personnel are alleged to have backdated large option grants for prized new hires to dates before the employees had even interviewed at the company, creating false paperwork to make it appear the employees had been hired months earlier.

When the stock option abuses surfaced, Brocade's audit committee conducted a thorough investigation, resulting in the resignation of Reyes and the restatement of the company's previously-reported income.

Without admitting or denying the Commission's allegations, Brocade has agreed to settle the charges by consenting to a permanent injunction against further violations of the antifraud, reporting, books-and-records, and internal control provisions of the federal securities laws, and payment of a civil monetary penalty of $7 million.

On July 20, 2006, the Commission charged Reyes, as well as former Vice President of Human Resources Stephanie Jensen, and former CFO Antonio Canova, with fraud and other securities law violations; that action is ongoing.

Amgen to Offer $4 Billion in Three Series of Senior Notes; Company to Purchase Approximately $3 Billion in Common Stock

Amgen (NASDAQ:AMGN) announced its intention to offer, subject to market and other conditions, Senior Notes due 2017, Senior Notes due 2037, and Senior Floating Rate Notes due 2008 through offerings pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The interest rate and other terms are to be determined by negotiations between Amgen and the initial purchasers of the notes.

Amgen expects to use the net proceeds from the offering to purchase approximately $3 billion worth of shares of its common stock, including through one or more block trades with one or more of the initial purchasers and/or their affiliates. Any remaining proceeds will be added to Amgen's working capital and will be used for general corporate purposes, including capital expenditures, other working capital needs and other business initiatives, including acquisitions and licensing activities.

This notice does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a private offering memorandum. The notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Amgen

Amgen discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and our vital medicines, visit www.amgen.com.

BISYS to Pay $25 Million to Settle Financial Reporting and Related Charges by SEC

The Securities and Exchange Commission announced today the filing and settlement of charges that The BISYS Group, Inc., a leading provider of financial products and support services, violated the financial reporting, books-and-records, and internal control provisions of the Securities Exchange Act of 1934. BISYS has agreed to settle the case, without admitting or denying the Commission's allegations. The company will consent to the entry of a judgment upon charges of violating the reporting, books-and-records and internal controls provisions of the securities laws. It has agreed pay approximately $25 million in disgorgement and prejudgment interest.

Mark K. Schonfeld, Director of the Commission's New York Regional Office, said, "This is a case study in internal control failures under earnings pressure. The settlement delivers meaningful relief to investors harmed by BISYS's misconduct."

Andrew M. Calamari, Associate Director of the Commission's New York Regional Office, said, "The Commission continues to focus on accounting improprieties such as these at public companies, and the resulting harm to investors. We aim to deter such conduct before it occurs and, if it does, to compensate investors and prevent recidivism."

The Commission's complaint, filed today in federal court in Manhattan, alleges that from July 2000 through December 2003, former BISYS officers and employees engaged in a variety of improper accounting practices that resulted in an overstatement of the company's reported financial results for the fiscal years ended June 30, 2001, 2002, and 2003 by roughly $180 million. The improper accounting practices were primarily based in the company's Insurance Services division, but also occurred in other divisions of the company.

The Commission's complaint alleges that the improper accounting practices were a product of a corporate focus by former management on meeting aggressive, short-term earnings targets and a lax internal control environment.

• Throughout the relevant period, the Insurance Services division was a major factor in the company's success in achieving its earnings targets. The division's finance department allegedly responded to the corporate focus on making numbers by engaging in improper accounting practices.
   



• Although Insurance Services had grown rapidly through a series of acquisitions, during the relevant period, the company failed to adopt and implement adequate controls over the accounting function of the acquired companies as they were integrated. Among other things, the company lacked adequate controls for reconciling account balances or tracking receivables and lacked controls adequate to ensure that the assumptions used in estimating revenue and renewal commissions were valid.
   



• With respect to Insurance Services, the complaint alleges that BISYS improperly recorded as its own revenue commissions earned by companies acquired by BISYS before they were acquired; failed adequately to reserve against a substantial aging receivable balance; improperly accounted for renewal and bonus commissions; and made other improper accounting entries that overstated revenue or reduced expenses. The Commission's complaint further alleges that BISYS also engaged in improper accounting practices in other divisions of the company.

The complaint alleges that the improper accounting practices within the Insurance Services division resulted in an overstatement of BISYS's reported pre-tax earnings by roughly $118 million for the fiscal years ended June 30, 2001, 2002, and 2003, and by 34.3%, 38.9%, and 20.6%, respectively, in each of those fiscal years. The improper accounting practices in BISYS's other divisions overstated the company's pre-tax earnings by an additional $60.9 million for the same period.

The complaint alleges that as a result of these and other improper accounting practices, BISYS filed annual and quarterly reports with the Commission that included financial statements that were inaccurate and misleading. In addition, the company's overstated financial results were incorporated in annual reports to shareholders, press releases, and offering documents including registration statements.

The complaint alleges that by engaging in this conduct, BISYS violated the financial reporting, books-and-records, and internal controls provisions of the Exchange Act. The complaint further alleges that BISYS received approximately $20 million in ill-gotten gains as a result of its issuance of convertible debt, stock, and options at prices that were inflated as a result of its violations.

Without admitting or denying the Commission's allegations, BISYS has agreed to settle the charges by consenting to a permanent injunction against further violations of the relevant reporting, books-and-records, and internal controls provisions of the federal securities laws, and it has agreed pay disgorgement and prejudgment interest totaling approximately $25 million.

The Commission acknowledges BISYS's extensive cooperation during the investigation. The Commission's investigation continues as to others.

GlobalSCAPE Announces $3,000,000 Stock Buyback

GlobalSCAPE (OTCBB:GSCP) today announced that its Board of Directors authorized the repurchase of up to $3 million of the company's outstanding common shares. The repurchase plan is designed to increase shareholders' value and reduce the dilutive effect of GlobalSCAPE's stock option plans.

"The Board's approval of the share repurchase plan reflects its confidence in the continued growth of GlobalSCAPE and an ongoing commitment to our shareholders," said Randy Poole, President and CEO of GlobalSCAPE. "We continue to generate substantial cash from operations, maintain a strong balance sheet, and remain basically debt free. We feel the repurchase of GlobalSCAPE stock represents the right decision for our Company and its shareholders and that this program will allow us to continue to pursue strategic opportunities for growth."

The stock repurchase authorization has an expiration date of May 22, 2008 with the repurchase activity tied to such factors as cash generation from operations, current stock price, and other factors. GlobalSCAPE may repurchase shares from time to time on the open market or in private transactions, including structured transactions. This program may be modified or discontinued at any time.

About GlobalSCAPE

GlobalSCAPE is a leading provider of managed and secured file transfer (EFT), wide area file services (WAFS), and continuous data protection software (CDP). Virtually all of the Fortune 100 use GlobalSCAPE products to secure and accelerate their data exchange. GlobalSCAPE's innovative managed file transfer solution, Enhanced File Transfer (EFT), enables all types of organizations to speed and automate the secure storage and movement of their data across the corporate firewall to external entities, and help them comply with government mandates such as HIPAA, Sarbanes-Oxley, and GLBA. GlobalSCAPE's Wide Area File Services (WAFS) deliver transparent, secure file replication that allows companies with branch offices across large geographic distances to replicate files within the corporate firewall to provide local file access speeds to each office, while reducing network utilization and maintaining file coherence and lock semantics. Continuous Data Protection (CDP) is GlobalSCAPE's real-time, continuous data backup solution that assures that any information on the network, even on distributed and remote servers, can be restored from any point in time in event of data loss. GlobalSCAPE is headquartered in San Antonio, TX. For more information, please visit http://www.globalscape.com or call GlobalSCAPE toll free at 800-290-5054 (US) or 210-308-8267 (international).

eProject Adds $12 Million in Series B Financing to Fuel Continued Growth, Financing Led by Bay Partners along with Kennet Partners

eProject, the on-demand leader in collaborative project and portfolio management (PPM) software, today announced the completion of its series B round of venture financing totaling $12 million. The round was led by Bay Partners and included previous investor Kennet Partners.

eProject goes beyond providing traditional "project management" functions with its on-demand model and Web 2.0 capabilities, which enables individuals and companies to work smarter and faster within their specific business processes and structure. The company's project and portfolio management product, PPM6, enhances virtually any process or methodology a company already has in place, such as project estimates, resource planning and a mechanism for team members to have chat-like discussions to speed up decision making processes. eProject is also driving a new wave of Dynamic Applications, enabling business users to create "do-it-yourself" applications on the fly and provision them to groups or the entire organization. The company has more than 100,000 users at 650 companies relying on their software every day, and is adding new customers at a rapid rate (please see press release about customer momentum in Q107).

"The technology market is moving in a direction where businesses can make software work for their specific situation and needs with very little effort or technical expertise," said CEO Jeff Pancottine. "Our recent growth has put us in a position to capitalize on a number of major technological directions, including the emergence of software-as-a-service and Web 2.0 technologies as mainstream business tools. With this additional financing, eProject will be able to continue its aggressive growth trajectory and find new ways to help companies improve and streamline everyday business processes."

"eProject's recent customer and market momentum clearly demonstrate how its innovative technology platform is delivering true value to the mid and enterprise markets," said Sandesh Patnam, partner at Bay Partners, who will be joining eProject's board of directors. "eProject is at the center of a variety of macro-business trends focused on helping companies and their employees become more efficient and take advantage of Web-based technologies. We see a strong opportunity for the company to both continue to disrupt the project management industry with innovative, on-demand services, and to expand into new areas to help companies use eProject technology as the collaborative platform and system of record for getting business done."

"eProject is redefining the notion of project and portfolio management at its core," said Eric Filipek, director at Kennet Partners. "eProject has been able to go beyond traditional project management and cater to virtually any industry and function within or even outside a company, be it sales, finance, engineering, marketing or product development. Their platform has tremendous potential to change the way businesspeople work everyday and become an essential productivity tab for the enterprise web browser."

About eProject

eProject is the on-demand leader in collaborative project and portfolio management (PPM) software. Companies of all sizes are embracing eProject's flexible, Web platform to improve day-to-day business processes and help employees get their jobs done faster. Unlike installed project management software, eProject's solution is deployed with little to no IT involvement or management, and enables business managers to create highly customized Dynamic Applications on the fly within a single on-demand platform. eProject counts more than 650 customers and 100,000 individuals at companies such as BASF, BP, Chase Paymentech, Cushman and Wakefield, Dell, Fidelity, Honeywell, Merrill Lynch, Sprint/Nextel, QUALCOMM and RealNetworks. The company is funded by Bay Partners and Kennet Partners.

About Kennet Partners

Kennet Partners is a leading transatlantic venture capital firm which invests in growth companies providing information technology products and business services that leverage information technology. Kennet provides expansion capital to firms that want to accelerate growth and build exceptional shareholder value in partnership with an experienced investor. Kennet Partners acts as an advisor to Kennet II LP, a Guernsey limited partnership. For more information: www.kennet.com.

About Bay Partners

Bay Partners is an early stage Venture Capital firm located in Silicon Valley. Bay has been building successful technology companies since 1976, funding over 350 startups. Bay leverages the operating backgrounds of its partners and its extensive network of executives and advisors to help outstanding entrepreneurs create the leaders in new high-growth market segments. Notable successes from Bay's portfolio include Brocade, Concord Communications, Exodus, Sonicwall, Placeware, Informatica, WebLogic (BEA) and NetScaler. Bay is currently investing its eleventh venture fund and has over $1 billion under active management. Bay Partners is on the web at www.baypartners.com.

Verizon Business to Acquire Information Security Services Leader Cybertrust

Verizon Business today announced a definitive agreement under which it will acquire Cybertrust, a privately held provider of global information security services. Financial terms were not disclosed.

The combination will make Verizon Business the leading provider of managed information security services to large-business and government customers worldwide. By combining Cybertrust's global presence and customer base, focused security expertise and professional services with Verizon Business' "cloud-to-core" security portfolio, global IP network and financial strength, the acquisition creates a powerful and unique player that will redefine the global security landscape.

The companies expect to close the transaction in 60 to 90 days.

Cybertrust -- an information security firm with 800 employees and operations in 30 locations across the Americas, Europe, the Middle East and the Asia-Pacific region -- is a global leader in securing critical data, protecting identities and helping its customers demonstrate ongoing compliance. Services include identity management, managed security services, vulnerability/threat management, security certification programs and a full range of professional services including enterprise-wide quantified risk analysis, individual application assessments, and forensics and incident response services.

"Security is a top concern for corporate CIOs worldwide, and this transaction demonstrates Verizon Business' focus on and commitment to providing world-class security solutions," said John Killian, president of Verizon Business. "As the world continues to move to IP, this combination creates an essential engine for protecting our customers' operations end-to-end.

"It will also enable Verizon Business to accelerate its creation and deployment of world-class security solutions to meet our customers' increasing need for comprehensive security solutions that are available globally," he said.

John Becker, chief executive officer, Cybertrust, said, "Joining with Verizon Business creates a capability that provides unmatched security expertise and extensive global reach that enables organizations to proactively manage risk and strengthen their protection of critical information assets. This combination will allow us to deliver a new generation of innovative security services that are aligned with an organization's business needs at all levels."

According to industry analyst firm Frost & Sullivan, the managed security services market is growing exponentially and is projected to exceed $6 billion by 2011.

Counse Broders, senior research director at global analyst firm Current Analysis, said: "The security market has seen its share of mergers. This combination, though, will be very beneficial to Verizon Business, Cybertrust, and customers of both, and thrusts Verizon Business squarely onto the global security stage in a positive way. In short, it's a competitive coup."

In addition to enhancing Verizon Business' global security services, Cybertrust offers a proven identity management suite, as well as Security Operation Centers in Europe, the Middle East, Africa and Asia-Pacific for a true "follow the sun" approach to security operations. Additionally, Verizon Business will acquire ICSA Labs, an independent division of Cybertrust, which is considered the gold standard of security product certification, and which has tested and certified 95 percent of the installed security products on the market today.

Cybertrust's Identity Management unit gives Verizon Business a strong new capability to help its customers efficiently manage user identities across multiple systems and applications. Through this group, Verizon Business will offer a full range of solutions for governments and enterprises to manage electronic identities that enable authentication management, information protection and secure access to resources across enterprise systems.

Verizon Business currently offers a comprehensive portfolio of managed and professional security services spanning Verizon's Internet "cloud" network to the core infrastructure at the business organization's premises. This suite of global services delivers advanced threat intelligence and flexible security management, enabling business and government customers to better manage security risks and protect critical assets.

About Verizon Business

Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a leading provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide. Combining unsurpassed global network reach with advanced technology and professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit www.verizonbusiness.com.

About Cybertrust

Cybertrust is the global information security specialist, delivering services that secure critical data, protect identities and help customers demonstrate ongoing compliance. Headquartered in Herndon, Virginia, United States, with more than 30 offices around the globe, Cybertrust is one of the world's largest providers of information security and is a global market leader in managed security services. For more information, visit www.cybertrust.com.

Semi-Annual Changes to the NASDAQ Biotechnology Index

The Nasdaq Stock Market, Inc. ("NASDAQ") (Nasdaq:NDAQ) announced today the results of the semi-annual re-ranking of the NASDAQ Biotechnology Index(r) (Nasdaq:NBI), which will become effective with the market open on Monday, May 21, 2007.

The re-ranking will result in 13 securities being added to the Index. All securities are classified according to the Industry Classification Benchmark (ICB) as either biotechnology or pharmaceutical. The securities that meet the classification criteria then must meet other Index eligibility criteria including listing on the NASDAQ Global Market or the NASDAQ Global Select Market and meeting minimum requirements for market value, average daily share volume and seasoning as a public company. The Index is ranked on a semi-annual basis in May and November. For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit www.NASDAQ.com.

As a result of the re-ranking, Curis, Inc. (Nasdaq:CRIS), Gene Logic Inc. (Nasdaq:GLGC), Inhibitex, Inc. (Nasdaq:INHX) and Threshold Pharmaceuticals, Inc. (Nasdaq:THLD), will be removed from the Index.

The NASDAQ Biotechnology Index is the basis for the iShares Nasdaq Biotechnology Index(sm) Fund (Amex:IBB), which seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the NASDAQ Biotechnology Index. In addition, options based on the NASDAQ Biotechnology Index and the iShares Nasdaq Biotechnology Index Fund trade on various exchanges.

NASDAQ is the largest U.S. electronic equities exchange. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. electronic market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks as well as a leading liquidity pool for trading NYSE-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at www.nasdaq.com or the NASDAQ Newsroom at www.nasdaq.com/newsroom/.

The Industry Classification Benchmark ("ICB") is jointly owned by FTSE International Limited ("FTSE") and Dow Jones & Company, Inc.

FTSE(sm) is a trademark of the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited under license.

"Dow Jones" and "DJ" are trademarks of Dow Jones & Company Inc.

iShares are distributed by SEI Investments Distribution Co.Barclays Global Fund Advisors serves as an advisor to iShares and is a subsidiary of Barclays Global Investors, N.A., neither of which is affiliated with SEI. For a prospectus, call 1-800-iSHARES (1-800-474-2737).

IShares are not FDIC Insured. Have No Bank Guarantee. May Lose Value. Company Briefs

Akorn, Inc. (Nasdaq:AKRX) develops, manufactures, and markets ophthalmic and injectable pharmaceutical products. The Company sells various diagnostic and therapeutic pharmaceutical products focused primarily on ophthalmology, anesthesia, antidotes, and rheumatology. Akorn also markets ophthalmic surgical instruments and other supplies, and provides contract manufacturing for third parties.

Alexza Pharmaceuticals, Inc. (Nasdaq:ALXA) is a pharmaceutical company focused on the development and commercialization of proprietary products for the treatment of acute and intermittent conditions.

BioMimetic Therapeutics, Inc. (Nasdaq:BMTI) develops and markets drug-device combination products for the repair of injuries or defects in bones, cartilage, ligaments, and tendons. The company combines protein therapeutics with tissue specific scaffolds to stimulate tissue healing and regeneration.

CombinatoRx Incorporated (Nasdaq:CRXX) is a biopharmaceutical company focused on developing new medicines built from synergistic combinations of approved drugs. The company has discovered and advanced into clinical trials a portfolio of product candidates targeting multiple immuno-inflammatory diseases and cancer.

DRAXIS Health Inc. (Nasdaq:DRAX) is a specialty pharmaceutical company providing products in three categories: sterile products, non-sterile products and radiopharmaceuticals. Sterile products include liquid and freeze-dried (lyophilized) injectables and sterile ointments. Non-sterile products are produced as solid oral, liquid and semi-solid dosage forms. Radiopharmaceuticals are used for both therapeutic and diagnostic molecular imaging applications.

Dynavax Technologies Corporation (Nasdaq:DVAX) discovers, develops, and is seeking to commercialize products based on immunostimulatory sequences. The company is developing products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using approaches that alter immune system responses in specific ways.

GenVec, Inc. (Nasdaq:GNVC) is a biopharmaceutical company developing novel gene-based therapeutic drugs and vaccines. The company's product candidates use patent-protected technology to deliver genes that produce beneficial proteins. GenVec is developing a therapeutic product for the treatment of locally advanced pancreatic cancer and other solid tumor cancers. GenVec also uses its proprietary adenovector technology to develop vaccines for infectious diseases.

Maxygen, Inc. (Nasdaq:MAXY) is a biopharmaceutical company which researches and develops protein drugs. The Company's products now in clinical trials include an interferon-alpha for treating Hepatitis C, and a G-CSF for treating neutropenia.

Medivation, Inc. (Nasdaq:MDVN) acquires, develops, and sells or partners biomedical technologies in the early development stage of the research and development process. The company's current portfolio consists of small molecule drugs in development to treat three large, unmet medical needs -- Alzheimer's disease, Huntington's disease and hormone-refractory prostate cancer.

Osiris Therapeutics, Inc. (Nasdaq:OSIR) utilizes adult stem cell technology to treat inflammatory and connective tissue disorders. Osiris markets a stem cell product for the regeneration of bone, and is developing follow-on products to treat Crohn's Disease, arthritis, and heart failure.

Sangamo BioSciences, Inc. (Nasdaq:SGMO) researches and develops transcription factors in the regulation of genes. These transcription factors are the proteins that turn genes on and off and regulate gene expression by recognizing specific DNA sequences.

Vanda Pharmaceuticals Inc. (Nasdaq:VNDA) is a biopharmaceutical company. The Company is focused on the development and commercialization of a portfolio of clinical-stage, small molecule product candidates for central nervous system disorders.

Warner Chilcott Limited (Nasdaq:WCRX) is a pharmaceutical company. The Company is focused on marketing, selling, developing and manufacturing branded prescription pharmaceutical products in women's healthcare and dermatology in the United States.

Xerox Completes Tender Offer for Global Imaging Systems

Xerox Corporation (NYSE: XRX) announced today that shareholders of Global Imaging Systems, Inc. (NASDAQ: GISX) tendered approximately 45.6 million shares, representing about 90.4 percent of the shares outstanding. According to the terms of Xerox's tender offer for all of the outstanding common stock of Global Imaging, shares that were validly tendered and not withdrawn have been accepted for payment. The tender offer expired at 12:00 midnight ET on May 8 and was not extended.
Until the acquisition is complete, six Xerox representatives will serve on Global Imaging's board of directors, giving Xerox majority board representation. Two representatives from Global Imaging will remain on the board.

Xerox intends to complete the acquisition of Global Imaging through what is known as a "short-form merger," meaning without a vote or meeting of Global Imaging's remaining shareholders. Each of the remaining shares of Global Imaging common stock (other than shares of which appraisal rights are required under Delaware law) will be converted into the right to receive the same amount as in the tender offer -- $29 per share in cash and without interest. The merger is expected to occur within the next several days. Following the merger, Global Imaging will immediately become a wholly owned subsidiary of Xerox, and Global Imaging's common stock will no longer list on NASDAQ.

Better Biodiesel Completes Equity Financing

Better Biodiesel, Inc. (OTCBB: BBDS), a producer of biodiesel fuel employing proprietary biodiesel production technology, today announced that it has completed a $690,000 equity financing with strategic investors. Ron Crafts and Gary Crook, Better Biodiesel CEO and CFO, respectively, participated personally in the financing.

The Company issued investors a total 345,000 shares at $2.00 per share and an equal number of 5-year warrants exercisable at $2.65 per share. In addition to their $690,000 cash investment, the strategic investors - some of whom hold interests in Midwest feedstock and properties potentially suitable for alternative fuel facilities - conveyed and delivered feedstock and tanks to the Company as well as consulting services valued at $120,000; in exchange for this, they received 60,000 shares and warrant coverage on identical terms.

The Company intends to use proceeds primarily to build out its Spanish Fork biodiesel production facility in preparation for completing and executing a distribution agreement with Cardwell Distribution, Inc. -- as envisioned in the Letter of Intent (LOI) announced March 13. Assuming completion and execution of a definitive agreement, Cardwell will have the right to purchase a minimum of 500,000 gallons of Better Biodiesel's biodiesel per year for three years, with expansion opportunity of up to 15 million gallons per year. The Company completed its first biodiesel sale and delivery to Cardwell in March.

"With this financing, Better Biodiesel is now focused on ramping up production at Spanish Fork to commercial scale," said Ron Crafts, Better Biodiesel chairman and chief executive officer. "The build-out is designed to enable the company to execute operationally on the Cardwell agreement for its revenue and cash flow potential. Strategically, however, this financing allows us to take a first step towards establishing a corporate flagship, full-scale biodiesel production showcase for our proprietary technology which will serve as a model for financing and replicating similar facilities in Europe or other U.S. regions.

"We are quite confident in the near-term success of the Spanish Fork plant, and are actively working to expand and optimize its cash flow prospects, while we simultaneously move forward on our plans to build additional plants in other regions," Mr. Crafts added.

About Better Biodiesel

Better Biodiesel has developed proprietary waterless technology that significantly reduces the costs of biodiesel production and environmental impact. A key environmental distinction in Better Biodiesel's production method is the absence of any caustic chemicals in the catalytic reaction process, which eliminates the washing and evaporation steps necessary under customary biodiesel production processes. This proprietary technology speeds up the production timeline, increases the volume of fuel that can be made within a given time period, and reduces the amount of land needed for the production plant. Better Biodiesel's initial pilot plant is producing approximately three million gallons per year and has a total footprint of less than 160 square feet. By contrast, several acres are required for a conventional biodiesel facility of the same production capacity. Initial Company estimates indicate that Better Biodiesel can expect to achieve a 20 percent reduction in the cost of producing biodiesel fuel, and a 40 percent reduction in the cost of building its biodiesel plants as compared with conventional production methods and facilities. Better Biodiesel's objective is to become one of the world's largest producers of biodiesel. (www.betterbiodiesel.com)

BluePhoenix CFO Iris Yahal to Leave

BluePhoenix Solutions Ltd., an Israeli computer technology company, said Wednesday its chief financial officer Iris Yahal will resign, effective June 1.
Yahal has been chief financial officer for 12 years. She will become an executive strategic adviser to company management and work on special assignments for the chief executive.

She will be replaced by Varda Sagiv, currently chief financial officer of the company's Formula Ventures, a venture capital fund.

Castle Brands Announces Closing of $21 Million Private Placement

Castle Brands Inc. (AMEX:ROX), an emerging international premium spirits company, announced today that it has closed the private placement announced on April 19, 2007. The private placement, consisting of $21 million of common stock and warrants sold to certain institutional investors, closed yesterday, May 8. The Company intends to use the proceeds from the offering for further brand development, acquisitions, and other corporate purposes.

Terms of the financing, as specified in the securities purchase agreement dated April 18, 2007, include the sale of approximately 3.5 million shares of unregistered common stock at a price of $5.97 per share. In addition, the private placement includes the issuance of approximately 1.4 million warrants with an exercise price of $6.57 per share. The warrants will expire five years from the date of issuance.

The securities sold in the private placement have not been registered under the Securities Act of 1933, or any state securities laws, and were sold in a private transaction under Regulation D. Unless the securities are registered, they may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws. The Company is obligated to register the shares of common stock sold, and the shares of common stock issuable upon exercise of the warrants sold, for resale on a registration statement to be filed on or before June 7, 2007.

More about Castle Brands Inc.

Castle Brands is an emerging developer and international marketer of premium branded spirits within four growing categories of the spirits industry: vodka, rum, whiskey and liqueurs/cordials. Castle Brands' portfolio includes Boru® Vodka, Gosling's Rums(TM), Sea Wynde® Rum, Knappogue Castle Whiskey®, Clontarf® Irish Whiskey, Jefferson's(TM) and Jefferson's Reserve® Bourbon, Sam Houston® Bourbon, Celtic Crossing® Liqueur, Pallini® Limoncello(TM), Raspicello(TM) and Peachcello(TM) and Brady's® Irish Cream.

Colonial Insured Municipal Fund Announces Liquidation

Colonial Insured Municipal Fund (AMEX: CFX) announced that the Fund's Board of Trustees has approved the liquidation and dissolution of the Fund, effective immediately, and that May 25, 2007 has been set as the record date for the first and final liquidating distribution.

The Board concluded that it would be in the best interests of the Fund's shareholders to liquidate the Fund after considering a shareholder's proposal relating to a reorganization of the Fund into an open-end fund and the shareholder's stated intent to solicit proxies in opposition to the recently announced proposal to transfer management of the Fund to another investment adviser. The Board reached this conclusion after considering, among other factors, the small asset size of the Fund, the lack of prospects for significant growth in assets, the likelihood that the Fund could incur significant costs in the future to remain a closed-end fund, and the likelihood that the Fund might not be able to obtain the shareholder vote required to approve a new advisory agreement.

As of May 4, 2007, the Fund had $63,616,414 in assets attributable to the Fund's common shares and $37,000,000 attributable to the auction preferred shares for total assets of $100,616,414.

With respect to the liquidation, the Fund announced that it will begin the orderly liquidation of its assets and its dissolution in accordance with the plan approved by the Board.

In accordance with the plan of liquidation, as of the close of business on May 25, 2007, the transfer agent books of the Fund will be closed, and trading of the Fund's common shares on the American Stock Exchange will be suspended. As of that time, stockholders' respective interests in the Fund's assets will be fixed and will not be transferable. Holders of record of the Fund's common shares as of the close of business on Friday, May 25, 2007 will be paid the final liquidating distribution, representing the Fund's net asset value per share on May 25, 2007. This liquidating distribution will be payable on May 30, 2007. Holders of the Fund's preferred shares will be paid their liquidation preference on May 25, 2007. The Fund intends to issue an additional press release providing an update regarding the amount of liquidating distributions.

Costs of the Fund associated with the liquidation, other than the expenses of all transactions in securities necessary to liquidate the Fund's holdings, will be paid by the Fund's advisor, Columbia Management Advisors, LLC.

Stockholders of the Fund shares will receive their liquidating distributions without further action on their part. Stockholders holding certificates representing their shares ("Certificated Stockholders") may, but are not required to, return their share certificates to the Fund's transfer agent. Any stock certificates of the Fund held after the liquidation will no longer evidence an ownership interest in the Fund and will not be accepted by the Fund's transfer agent.

Stockholders receiving a liquidating distribution will be eligible to invest these proceeds in Class A shares at net asset value of certain other Columbia Funds for 90 days following the date of the liquidation.

Columbia Management Advisors, LLC (CMA), a subsidiary of Bank of America Corporation that manages the seven Colonial closed-end funds, previously announced on April 11, 2007 that it had agreed to sell its Colonial closed-end fund management business to MFS Investment Management (MFS), a registered investment adviser and a subsidiary of Sun Life Financial. MFS and CMA have agreed to modify the terms and conditions of their agreement to allow for the completion of the sale transaction with respect to the business of managing the six other Colonial closed-end funds despite the liquidation of Colonial Insured Municipal Fund, provided that customary conditions are satisfied. The liquidation is expected to occur before the closing of the sale transaction.

As a result of this action, the Fund will not call or hold its 2007 annual meeting of shareholders.

Colonial Insured Municipal Fund is a closed-end investment company managed by CMA. The Fund seeks to provide current income generally exempt from ordinary federal income tax.

Columbia Management, based in Boston, MA, is the primary investment management division of Bank of America. Columbia Management, which offers products across an array of asset classes and investment styles to both individual and institutional investors, is focused on delivering strong investment performance and superior client service. As of March 31, 2007, Columbia Management and affiliates had $547.4 billion in assets under management. (1)

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 56 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with nearly 22 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. http://www.bankofamerica.com/

(1) Columbia Management and its affiliates comprise the wealth and investment management division of Bank of America Corporation. As of March 31, 2007, Columbia Management and its affiliates managed assets of $547.4 billion. Columbia Management and its affiliates managed assets consists of assets under the discretionary management of the three registered investment advisors, Columbia Management Advisors, LLC ($347.4 billion), Columbia Wanger Asset Management, L.P. ($35.1 billion) and Marsico Capital Management, LLC ($87.9 billion); the Bank of America Private Bank; Banc of America Investment Services, Inc; Banc of America Investment Advisors, Inc; Bank of America Capital Advisors, LLC, and Premier Banking and Investments.

Columbia Management Group, LLC ("Columbia Management") is the investment management division of Bank of America Corporation. Columbia Management entities furnish investment management services and products for institutional and individual investors. Columbia Funds are distributed by Columbia Management Distributors, Inc., member NASD and SIPC. Columbia Management Distributors, Inc. is part of Columbia Management and an affiliate of Bank of America Corporation.

GE Unit Invests $154 Million with Exploration Companies to Acquire Oil and Gas Reserves in Oklahoma and Texas, Invest in Field Development

GE Energy Financial Services announced today it has partnered with two experienced operators to acquire $154 million in oil and gas reserves in Oklahoma and Texas.

With Bays Exploration Inc., the GE unit acquired oil and gas reserves with significant development opportunities in western Oklahoma for $79 million. In addition, Energy Financial Services plans to invest up to $60 million for the development of the reserves.

In the second transaction, GE Energy Financial Services partnered with Southern Bay Energy, a subsidiary of GeoResources, Inc. (NASDAQ: GEOID) to acquire oil and gas properties in the Austin Chalk trend of East Texas for $75 million. GE Energy Financial Services plans to invest an additional $27 million for the development of these properties.

Additional financial and operational details of the two transactions were not disclosed.

An affiliate of GE Energy Financial Services holds limited partnership interests in two separate partnerships, with Bays Exploration Inc. and an affiliate of Southern Bay Energy serving as general partners of the two entities and operators of the respective properties.

“Our partnership combines the Bays Exploration team with the financial strength of G.E.,” said Joe Bays, President of Bays Exploration, Inc. “This blend will allow us to accelerate the development of our proved reserves in an efficient manner.”

Frank A. Lodzinski, CEO and President of GeoResources, stated: “Adding this asset to our existing properties will allow us to continue our profitable growth and provide additional drilling opportunities. With the multiple locations provided by this acquisition, we will be able to grow our production rate, reserves and cash flow at reasonable costs. We expect to keep a rig busy drilling on these properties for at least the next two years.”

“These two investments present excellent growth opportunities for GE working with experienced management teams,” said John Schaeffer, Managing Director and head of the Oil and Gas unit at GE Energy Financial Services. “Bays’ and Southern Bays’ experience in oil and gas development, together with GE Energy Financial Services’ deep industry knowledge and commitment, create the potential for strong operating results.”

Since 1991, the Oil and Gas unit’s 18 professionals have provided $2.75 billion in partnership equity for its independent private and public oil and gas partner-operators in the United States. Based in Stamford, Connecticut, with offices in Houston, Texas, the Oil and Gas unit’s partnership investments produce an estimated 100 million cubic feet of natural gas and 15,000 barrels of oil daily.

About Bays Exploration, Inc.

Bays Exploration, Inc., a wholly owned subsidiary of Bays Enterprises, Inc., is an experienced exploration and production company with offices in Oklahoma City, Oklahoma and Boerne, Texas. Merrill Lynch Petrie Parkman advised Bays throughout this transaction.

About GeoResources, Inc. and Southern Bay

As a result of the merger competed April 17, 2007 between GeoResources, Inc., (NASDAQ: “GEOID”, but “GEOI” effective may 17, 2007) Southern Bay Oil & Gas, L.P., and Chandler Energy LLC, Southern Bay became a wholly owned subsidiary of GeoResources. The management of Southern Bay and Chandler became the principal management of the combined entity. GeoResources and its subsidiaries and affiliates own and operate producing oil and gas properties in the Gulf Coast, Permian Basin, Rocky Mountains and Williston Basin, and conduct oil and gas exploration operations in these areas. The company headquarters and southern region operating offices are located in Houston, Texas and its Northern region office is located in Denver, Colorado. For more information, visit the company's websites at www.geoi.net and www.southernbayenergy.com

About GE Energy Financial Services

GE Energy Financial Services’ 300 experts invest globally with a long-term view, backed by the best of GE's technical know-how and financial strength, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $14 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world’s most capital-intensive industries, energy and water. More information: www.geenergyfinancialservices.com

About GE

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. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com

Settled Administrative Proceeding Against Zurich Capital Markets Inc. for Financing of Hedge Funds' Illegal Market Timing

The Securities and Exchange Commission today announced a settled administrative proceeding against Zurich Capital Markets Inc. (ZCM) for its role in providing financing to hedge fund clients that engaged in market timing of mutual funds and facilitating the hedge funds' deceptive trading tactics. The Commission ordered ZCM, a New York-based subsidiary of Zurich Financial Services, to pay $16.8 million consisting of $12.8 million in disgorgement and prejudgment interest and a $4 million penalty. The money will be distributed to the mutual funds that were harmed as a result of market timing ZCM facilitated.

Mark K. Schonfeld, Director of the New York Regional Office, said, "By knowingly financing their hedge funds clients' deceptive market timing, ZCM reaped substantial fees at the expense of long-term mutual fund shareholders. Because of ZCM's attractive financing arrangement and its willingness to create a number of anonymous special purpose vehicles (SPVs) for its hedge fund clients, the hedge funds were able to inflate their trading profits from their deceptive conduct."

Helene Glotzer, Associate Director of the New York Regional Office, added, "This action demonstrates that the Commission continues to carefully examine the role of financial intermediaries that assist hedge funds engaged in deceptive practices."

The Commission's Order finds that ZCM aided and abetted four hedge funds that were carrying out schemes to defraud mutual funds that prohibited market timing. ZCM's hedge fund clients knew that many of these mutual funds prohibited market timing. In an effort to avoid being detected and potentially blocked from making market-timing trades in these funds, each of these hedge funds and ZCM disguised their identities. For example, ZCM created seemingly unaffiliated SPVs in whose name multiple brokerage accounts were opened, thus enabling ZCM's hedge fund clients to disguise their identities and market time mutual funds.

The Order finds that ZCM profited from the fees it received from the business of providing derivative financing to hedge funds engaging in a mutual fund market-timing strategy. As a result, the Commission's Order finds that ZCM willfully aided and abetted and caused violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

ZCM, which is currently winding down its operations, consented to the entry of the Commission's Order without admitting or denying the Commission's findings. In determining to accept the settlement, the Commission considered ZCM's cooperation in this investigation.

GE Money and The Andersons Extend Consumer Credit Program

A 10-year relationship between The Andersons, Inc. retail stores and GE Money will continue for multiple years. The companies recently announced a new agreement extending The Andersons Credit Card, a consumer financing program available in six retail stores.

The original consumer financing agreement between The Andersons and GE Money began in 1996. The Andersons has six large retail stores in Ohio that offer extensive traditional home center merchandise along with a broad array of products including lawn and garden, house wares and work wear. The stores also feature a unique offering of high-quality fresh foods including produce, deli, bakery, specialty gourmet foods, frozen and fresh meats and one of the largest selections of fine wines in the Midwest.

The company is opening its seventh store, The Andersons Market, in the Toledo area during the second quarter of 2007. The new specialty food store will have a strong emphasis on “freshness” that features produce, deli and bakery items, fresh meats, specialty and conventional dry goods, wine and beer presented in an atmosphere that is both educational and fun

“GE Money has been a powerful and reliable financing partner for us,” said Nick Conrad, assistant treasurer of The Andersons, Inc., a $1.5 billion company headquartered in Maumee, Ohio. “Customer service and value are important components to our business, and GE Money helps provide that in our consumer financing program.”

The Andersons Credit Card offers consumers an option to earn 2 percent reward certificates on every purchase, 90-day, 6-month and 12-month deferred payment and deferred interest on specified levels of purchase, no annual fee, and a 25-day grace period on all new purchases. A Contractors Card also is available.

“The Andersons is a solid company that has combined great products with uncompromising values and service. We are honored to be their financing partner and help them continue to grow,” said Paul Schell, senior vice president for GE Money – Sales Finance.

About The Andersons, Inc.

The Andersons, Inc. is a diversified company with interests in the grain, ethanol and plant nutrient sectors of U.S. agriculture, as well as in railcar leasing and repair, turf products production, and general merchandise retailing. Founded in Maumee, Ohio in 1947, the company now has operations in seven U.S. states plus rail leasing interests in Canada and Mexico. Total revenues in 2006 were $1.5 billion. For more information about The Andersons, visit the company’s Web site at www.andersonsinc.com.

About Sales Finance and GE Money

Sales Finance, based in Kettering, Ohio, is part of GE Money, formerly GE Consumer Finance, and provides private label credit card programs, marketing, installment lending, service contracts and financial services for national and regional retailers and service providers in more than 20 industries including: home improvement, outdoor power equipment, powersports, sporting goods, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.

With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in more than 54 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at www.gemoney.com.

GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com

Barclays Global Investors Launches Five iShares® FTSE NAREIT ETFs on NYSE Arca

NYSE Euronext (NYSE Euronext: NYX) subsidiary, NYSE Group, Inc. today announced five new initial ETF listings. iShares®, the largest ETF sponsor by assets under management in the world, has created five iShares FTSE NAREIT Index ETFs and has selected NYSE Arca for listing andtrading.
The new funds are:

iShares FTSE NAREIT Real Estate 50 Index Fund FTY
iShares FTSE NAREIT Residential Index Fund REZ
iShares FTSE NAREIT Industrial/Office Index Fund FIO
iShares FTSE NAREIT Retail Index Fund RTL
iShares FTSE NAREIT Mortgage REITs Index Fund REM

“NYSE Arca welcomes back iShares with the addition of these five new FTSE NAREIT ETFs,” said NYSE Group Senior Vice President, Exchange Traded Funds and Indexes, Lisa Dallmer. “This suite of real estate funds covers the many disciplines and aspects of REITs, offering customers unique access to REIT investing and the broader real estate market. Today’s listings further solidify NYSE Euronext’s commitment to being the world’s premier venue for ETF listings and trading.”

With today’s listings, NYSE Group markets have 185 primary ETF listings, 118 which are iShares, and trade all other eligible ETFs on a UTP basis. In first quarter 2007, NYSE Group handled 45% of all ETF shares traded in the U.S. market. As the largest exchange group for ETF trading, NYSE Group is committed to offering investors the most innovative new investment options with superior pricing and market quality.

For more information and data on NYSE Group listed ETFs and other products, please visit: http://www.nyse.com/etfs.

Bank of America Names New Chief Investment Officer Walter J. Muller

Bank of America today named Walter J. Muller Chief Investment Officer to replace Ian G. Banwell, who announced his intention to resign from the company in order to launch an alternative investments firm, Round Table Investment Management.

"Ian has done a great job in the years he has served as our CIO," said Joe L. Price, chief financial officer of Bank of America. "Given our successful relationship and our strong confidence in Ian, we have chosen to make a minority investment in the new firm and intend to seed several of the funds."

"Walter Muller has been the architect behind much of our dynamic, performance-driven asset/liability management team," continued Price. "He has served closely with Ian for many years and knows the business extremely well. I am excited that Walter will continue to provide strong leadership and contribute to the success of our corporate investments team."

Muller will assume the role effective today.

Muller has supported the Corporate Investments team since 1992, serving as the bank's Quantitative Finance Executive since 1999. He has also supported the bank's quantitative finance efforts for Corporate Treasury and Risk Management. Muller holds a Ph.D. in applied economics from the Sloan School of Management at MIT.

Bank of America will own a minority, non-voting share in Round Table and will serve in an observer capacity on Round Table's advisory board.

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 56 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with nearly 22 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

HP Files Patent Infringement Lawsuit Against Pelikan

HP today announced that the company has notified Germany-based Pelikan Hardcopy Deutschland GmbH of print cartridge and ink formulation patent infringement.

The cartridges in question are apparently new, as opposed to remanufactured, products. They are being sold under the Pelikan brand and designated as H06 and H08 color cartridges. HP filed a lawsuit in the Dϋsseldorf District Court detailing the believed infringements.

As part of the lawsuit, HP requested that Pelikan stop infringing HP patents. The discovery of Pelikan’s alleged infringement is the result of ongoing worldwide testing and enforcement efforts within HP’s Imaging and Printing Group.

SEC Charges A.G. Edwards With Failing to Supervise Brokers Who Engaged in Illegal Market Timing

The Securities and Exchange Commission today announced settled enforcement proceedings against A.G. Edwards & Sons, Inc., alleging that A.G. Edwards failed reasonably to supervise some of its registered representatives who used deceptive means to place market timing trades on behalf of their customers. As part of its settlement with the SEC, A.G. Edwards, a registered broker-dealer headquartered in St. Louis, Mo., will pay disgorgement and prejudgment interest of $2.36 million and civil penalties of $1.5 million for a total payment of $3.86 million. A.G. Edwards also agreed to certain undertakings, including hiring an independent consultant to review whether the changes A.G. Edwards has made to its policies and procedures are reasonably designed to prevent and detect future market timing activity.

The SEC also announced the institution of settled enforcement proceedings against a former registered representative in A.G. Edwards' Boston Back Bay, Mass., branch office for engaging in a fraudulent market timing scheme and the institution of administrative and cease-and-desist proceedings against a registered representative in A.G. Edwards' Boca Raton, Fla., branch office and two branch managers for their alleged involvement in the fraudulent market timing schemes.

The SEC's Order relating to A.G. Edwards finds that between January 2001 and September 2003, registered representatives in several of A.G. Edwards' branch offices engaged in illegal market timing schemes on behalf of their customers. These registered representatives engaged in deceptive practices designed to circumvent restrictions that mutual funds imposed on market timing. A.G. Edwards failed to develop or adopt reasonable policies, procedures or systems to monitor market timing in order to prevent and detect its registered representatives' misconduct. A.G. Edwards also failed to develop or adopt reasonable policies, procedures or systems for monitoring and responding to red flags about its registered representatives' deceptive market timing on behalf of customers.

Merri Jo Gillette, Regional Director of the SEC's Chicago Regional Office, said, "By failing to develop or adopt reasonable policies to prevent its registered representatives' misconduct, A.G. Edwards ignored its responsibility to reasonably supervise its registered representatives."

In addition to the $3.86 million payment, A.G. Edwards has agreed to be censured and to hire an independent consultant to review its policies and procedures related to market timing. A.G. Edwards has consented to the issuance of the SEC's Order without admitting or denying the findings contained therein.

GE Capital Solutions, Global Electronics Services Announces JPY 48.4B Lead Agent Award

GE Capital Solutions, Global Electronics Services (GES), working under the GE Capital Leasing Corporation in Japan, today announced that it has been awarded a lead agent role on a JPY 48.4 billion (USD $411 million) senior secured 45-month term loan for Spansion Japan.

The loan will be used to help Spansion, the world's largest pure-play provider of Flash memory solutions, finance the expansion of its manufacturing capabilities, as well as re-finance its operating lease obligations. The deal is one of the first syndicated loans collateralized with semiconductor assets in the history of Japanese financial markets.

“The demand for greater memory, speed and processing power is fueling capital investments throughout the microelectronics industry,” said Roger Innes, president & CEO of GE Capital Solutions, Global Electronics Services. “In addition to helping a valued customer meet these demands and grow, today’s news is indicative of our ability and desire to finance larger transactions, leveraging both the capital markets and our global industry expertise.”

Spansion will use the funds to restructure existing debt in Japan and equip Spansion’s SP1 300mm fab in Aizuwakamatsu, Japan. With its SP1 fab, Spansion expects to be the only NOR Flash supplier producing Flash memory devices on 65nm 300mm wafers in the second half of 2007.

“GE Capital Solutions, Global Electronics Services’ ability to structure and successfully syndicate the first of its kind structured financing product in Japan, provides Spansion with a flexible and cost-effective financing to push forward as being the premier NOR Flash memory provider in the world,” said Dario Sacomani, executive vice president and CFO of Spansion Inc.

About GE Capital Solutions, Global Electronics Services

Headquartered in San Diego, California GE Capital Solutions, Global Electronics Services (GES), is a leading global expert in delivering customized financial and equipment management services to microelectronics manufacturers of semiconductor fabrication (FAB), automated test equipment (ATE), printed circuit board assembly (PCA) and flat panel display (FPD) equipment. For more information, visit www.geelectronicsweb.com.

GE Capital Solutions (www.ge.com/capitalsolutions) provides leasing, lending and capital investment products and services to help business customers grow. It has over $100 billion in assets, serves more than a million clients around the world and is headquartered in Danbury, 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.