Bank of America's International Equity Derivatives Group Extends Coverage to Hedge Fund Community

Bank of America today announced the continued expansion of its Equity Derivatives platform with the launch of an International Institutional Equity Derivatives desk in London. Led by Justin Golden, head of Institutional Hedge Fund Sales, the desk is designed to cover hedge funds and fund managers and provide them with critical cross-product coverage from the Equities Trading, Prime Brokerage and Derivatives teams.

Bank of America boosted its European Equity Derivatives business in early 2006 with the transfer to London of Ben Wilkinson, Global Head of Equity Derivative Product and Head of Equities, EMEA and Asia, from the bank's New York office. Wilkinson's establishment of the London-based group highlighted the Bank of America strategy to extend U.S.-based product capabilities into a cohesive European platform. Under the direction of Patrick Sommer, head of Investor Marketing, Bank of America is also continuing the expansion of its client coverage on the Investor Sales side, covering financial institutions throughout Europe.

"The launch of our International Institutional Equity Derivatives desk complements Bank of America's growing international platform and leaves us well-positioned to meet the needs of the European Derivatives community and our growing client base there," said Wilkinson. "There is a significant opportunity for Bank of America internationally as we access new investors, extend our product offering in equity derivatives and continue to drive innovation."

In addition, Bank of America continues to expand its leading U.S. Institutional Derivative business with the appointments of John Van Poznak as a Managing Director on the Institutional Derivative sales team and Josh Slavitt as a Principal on the Institutional Derivative trading team. Both are New York-based.

Van Poznak brings with him more than 15 years of derivative sales experience, most recently with Wachovia Securities, where he served as head of Options Sales from 2003-2006. He reports to Dean Curnutt, head of Institutional Equity Derivative and Convertible Sales.

Slavitt brings more than eight years of experience as a derivative trader and equity options specialist, most recently with BNP Paribas. He reports to Kumaran Vijayakumar, head of U.S. Equity Derivative and Convertible Trading.

About Bank of America

Bank of America (NYSE: BAC) 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 products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Many of the company's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. Issued and approved by Banc of America Securities Limited. Banc of America Securities Limited is a wholly-owned subsidiary of Bank of America, N.A. and is authorised and regulated in the United Kingdom by the Financial Services Authority. For additional information, visit http://www.bankofamerica.com/

GE Healthcare Financial Services Arranges $1.3 Billion Senior Credit Facilities for Inverness Medical Innovations

GE Healthcare Financial Services announced today it closed a $1.3 billion senior secured credit facility for Inverness Medical Innovations, Inc. (AMEX:IMA) to support the acquisition of Biosite Incorporated (Nasdaq:BSTE). GE Healthcare Financial Services serves as Administrative Agent for the facility. GE Capital Markets and UBS Investment Bank were Joint Lead Arrangers for the facility.

The senior secured credit facilities included a $150 million revolving credit facility, $900 million first lien term loan, and a $250 million second lien term loan. Inverness used the proceeds to finance the acquisition of Biosite, refinance its existing indebtedness, and provide increased liquidity for its working capital needs.

“The combination of Inverness and Biosite, along with the pending stock for stock acquisition of Cholestech, Inc. by Inverness, creates a broadened leadership position in the rapid diagnostics testing market,” says Ron Zwanziger, Chairman and CEO of Inverness.

“We have enjoyed our long relationship with Inverness and are pleased to play a part in helping Inverness continue to successfully grow and strengthen its position in the diagnostics market,” said David Varhol, Managing Director of GE Healthcare Financial Services.

“We appreciate GE Healthcare Financial Services’ and UBS’ responsiveness and successful execution of this financing, as well as their ongoing commitment to Inverness,” said David Teitel, CFO of Inverness. “The GE and UBS teams are supportive of our vision for future growth and development at Inverness.”

About GE Healthcare Financial Services

GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $16 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians’ practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit http://www.gehealthcarefinance.com

About Inverness Medical Innovations, Inc.

Inverness Medical Innovations, Inc. is a leading developer of advanced diagnostic devices and is presently exploring new opportunities for its proprietary electrochemical and other technologies in a variety of professional diagnostic and consumer-oriented applications including immuno-diagnostics with a focus on women's health, cardiology and infectious disease. The Company's new product development efforts, as well as its position as a leading supplier of consumer pregnancy and fertility/ovulation tests and rapid point-of-care diagnostics, are supported by the strength of its intellectual property portfolio. Inverness is headquartered in Waltham, Massachusetts. For additional information on Inverness Medical Innovations, Inc., please visit the Company’s website at www.invernessmedical.com

About Biosite Incorporated

Biosite Incorporated is a leading bio-medical company commercializing proteomics discoveries for the advancement of medical diagnosis. The company's products contribute to improvements in medical care by aiding physicians in the diagnosis of critical diseases and health conditions. The Biosite Triage® rapid diagnostic tests are used in more than 70 percent of U.S. hospitals and in more than 60 international markets.

ISTA Pharmaceuticals to Raise $36.75 Million through Private Financing

ISTA Pharmaceuticals, Inc., today announced it has entered into definitive agreements with institutional accredited investors with respect to the private placement of 5.25 million shares of its common stock at a purchase price of $7.00 per share for expected gross proceeds of approximately $36.75 million before payment of placement agent commissions and offering expenses. Closing is expected to occur on or about June 29, 2007, subject to customary closing conditions. Lehman Brothers is serving as lead placement agent with Lazard Freres & Co. LLC, Susquehanna Financial Group, LLLP, and Thomas Weisel Partners LLC serving as additional placement agents for the transaction.

The offering was made only to select accredited investors in accordance with Section 4(2) under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. The securities offered in this placement have not been registered under the Securities Act of 1933, or state securities laws, and cannot be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from the registration requirements. As part of the transaction, ISTA has agreed to file a registration statement with the SEC covering the resale of the shares of common stock to be issued in the offering. This news release is neither an offer to sell nor a solicitation of an offer to buy any of the securities discussed herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any state.

SEC Sues London-Based Hedge Fund Adviser GLG Partners, L.P. for Illegal Short Selling in Connection with Public Offerings

The Securities and Exchange Commission today announced settled enforcement actions against London-based hedge fund adviser GLG Partners, L.P. for illegal short selling in connection with 14 public offerings.

During a two-year period, GLG made more than $2.2 million in illegal profits in four of its managed hedge funds by committing multiple violations of Rule 105 of Regulation M of the Securities Exchange Act of 1934. Rule 105, designed to prevent manipulative short selling, prohibits covering certain short sales with securities obtained in a public offering. GLG agreed to a cease-and-desist order and payment of more than $3.2 million in disgorgement, prejudgment interest, and penalties. In accepting GLG’s settlement offer, the SEC considered remedial acts undertaken by GLG, and GLG’s cooperation in the SEC’s investigation.

“With this action against GLG, the SEC reaffirms its commitment to protecting investors by upholding the integrity of the public offering process,” said Linda Chatman Thomsen, Director of the SEC’s Division of Enforcement.

Antonia Chion, Associate Director of the SEC’s Division of Enforcement, stated, “Foreign-based hedge funds that trade on the U.S. markets cannot turn a blind eye to compliance with the U.S. federal securities laws.”

Without admitting or denying the findings, GLG consented to the SEC order that finds, from July 2003 through May 2005, GLG violated Rule 105 on 16 occasions in 14 different public offerings in the following funds: GLG Market Neutral Fund; GLG North American Opportunity Fund; GLG Technology Fund; and GLG European Long Short Fund. At the time, GLG did not have any policies, procedures or training on Rule 105.

GLG’s payment includes disgorgement of $2,214,180 and prejudgment interest of $489,455.94. GLG also will pay a $500,000 civil penalty. As part of the settlement, GLG has agreed to adopt and implement policies and procedures focused on compliance with Rule 105; provide training on Rule 105 to employees, including compliance and legal personnel; and designate a senior-level employee as responsible for overseeing GLG’s compliance with Rule 105.

The SEC thanks the Financial Services Authority in the United Kingdom for its assistance in this matter.

SEC Adds Software Tool for Investors Seeking Information on Companies’ Activities in Countries Known to Sponsor Terrorism

In the latest of a series of steps to use the Internet and interactive computer technology to make public company disclosures more accessible to investors, Securities and Exchange Commission Chairman Christopher Cox today announced that the SEC has added to its Web site a software tool that permits investors to obtain information directly from company disclosure documents about their business interests in countries the U.S. Secretary of State has designated “State Sponsors of Terrorism.”

The information comes from the companies’ most recent annual reports as filed with the SEC.

Chairman Cox said, “No investor should ever have to wonder whether his or her investments or retirement savings are indirectly subsidizing a terrorist haven or genocidal state. The law already requires companies to report on any material activities in a country the Secretary of State has formally designated a State Sponsor of Terrorism. Our role is to make that information readily accessible to the investing public. Making it easier to find significant information such as this by tapping the power of technology is central to the SEC’s mission.”

Five countries are currently on the U.S. State Department list: Cuba, Iran, North Korea, Sudan, and Syria. (In addition to its support for terrorism, the Sudanese government has also been widely recognized as complicit in genocidal activities in Sudan’s Darfur region.)

The new software tool can be accessed on the Investor Information section of the SEC’s home page. Clicking the tab for “State Sponsors of Terrorism” will bring up a menu of each of the countries on the State Sponsors of Terrorism list. Clicking on any of those countries will bring up a menu of the companies whose 2006 annual reports disclose business activities in that country. Clicking on the name of a company will, in turn, bring up the pertinent portions of that company’s annual report.

All of the disclosures are linked directly to the full text of the company’s annual report to insure proper context. The existence of a disclosure by a company concerning activities in one of the listed countries does not, in itself, mean that the company directly or indirectly supports terrorism or is otherwise engaged in any improper activity. The information will be continuously updated to reflect SEC filings as they are received, as well as any changes to the Department of State’s list.

In addition to this initiative, the SEC is complying with a provision in the recently enacted supplemental Appropriations Act requiring that the agency coordinate with the Department of the Treasury on the preparation of a report containing the names of companies which either directly, or through a parent or subsidiary, conduct significant business in Sudan relating to natural resource extraction (P.L. 110-28, The U.S. Troop Readiness, Veterans’ Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007).

Ariba Launches Podcast for Chief Financial Officers

Ariba, Inc. (Nasdaq: ARBA), the leading spend management solutions provider, today launched a podcast designed to help chief financial officers, vice presidents of finance and controllers understand how by working with procurement, they can advance in the battle to control costs and improve business performance. Available through Supply & Demand Chain Executive Magazine at www.sdcexec.com, the podcast discusses the results of a recent survey conducted by CFO Research Services sponsored by Ariba which shows that procurement is a key ally when it comes to lowering costs and enhancing business unit decision making, planning, budgeting and forecasting.

"Traditionally, there has been a gulf between finance and procurement," said Paul Tong, Senior Product Manager, Ariba. "Leading finance executives are realizing that in order to achieve their objectives, they must bridge this gap. Financial systems such as ERP can automate routine transaction processing and reporting functions. But they cannot provide timely and accurate information on spend that is needed to support strategic initiatives. Procurement has this information and with the right solutions and processes, finance can access and leverage it to their advantage."

Last month, Ariba unveiled the results of a survey of senior finance executives at companies throughout North America, conducted on its behalf by CFO Research Services. The survey, "CFOs Views on Procurement-Information, Risk and Money," provides an in-depth look at how CFOs view procurement, as well as their thoughts on the role that procurement can play in helping them achieve their goals. Among the key findings:

When seeking to control costs, executives see the greatest opportunity in
managing spending on direct materials and indirect goods and services, sourcing
through preferred vendors and improving their interactions with suppliers.

Most companies are unable to gather timely and accurate information on
purchasing activities and consequently have poor visibility into their spending.

Organizations that have adopted and implemented technology-based
solutions report greater satisfaction with and better information from their
procurement functions.

"Controlling costs is something that all companies struggle with, regardless of their size or the industry they operate in," Tong continued. "But by looking beyond large scale transactional systems that fail to provide consolidated and forward-looking views into spend and forging a strong partnership between finance and procurement, they can succeed."

Ariba provides a comprehensive range of solutions that combine market-leading technology with deep category expertise and industry best-practices to help companies manage their spend from end-to-end. Flexible and easy to use, Ariba’s solutions seamlessly integrate with all major ERP systems and enable companies to understand their spending patterns, identify opportunities for savings, and design and execute strategies to get them to the bottom line.

To learn more about Ariba® Spend Management™ solutions and the benefits these solutions are delivering to companies around the world, please visit: www.ariba.com
To download a complete copy of "CFOs Views on Procurement-Information, Risk and Money," visit: http://www.ariba.com/learningcenter/view_page.cfm?asset_id=347

About Ariba, Inc.
Ariba, Inc. is the leading provider of spend management solutions to help companies realize rapid and sustainable bottom line results. Successful companies around the world in every industry use Ariba Spend Management™ software and services. Ariba can be contacted in the U.S. at 1.650.390.1000 or at www.ariba.com

GE Statement on Discussions Regarding Pearson and Dow Jones

GE today issued the following statement regarding its recent discussions with Pearson regarding Dow Jones:

GE and NBC Universal are always evaluating opportunities to
enhance our businesses and shareowner value, particularly
when they involve superior global brands such as CNBC, the
Financial Times Group and Dow Jones. GE and CNBC recently
held exploratory discussions with Pearson regarding a
possible combination of these properties. Following these
discussions, GE and Pearson have decided not to pursue this
combination. Pearson and NBC Universal continue to discuss
cooperative agreements between CNBC and the Financial Times
Group.

NYSE Suspends Trading in 8 5/8% Senior Notes of Remy International, Inc. Moves to Remove from the List

NYSE Regulation, Inc. announced today that it determined that the 8 5/8% Senior Notes due December 15, 2007 of Remy International, Inc. (formerly Delco Remy International, Inc.) or the "Company"-- ticker symbol RMY 07– should be suspended immediately.
The Exchange's action is being taken in view of the fact that on June 15, 2007, the Company announced that is has entered into an agreement to consummate a financial restructuring through a prepackaged Chapter 11 proceeding.

The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of the NYSE staff’s decision.

The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.

Divisor Change for Dow Jones US Real Estate Index

Colonial Properties Trust is to have a price adjustment due to a special cash dividend.

Due to the following action, the Dow Jones US Real Estate Index (DJUSREsm) will be calculated with a new divisor at the open of trade for trade date Monday, June 18, 2007.

As a result, the current divisor for the DJUSRE is: 1,172,997,823.

Additional information regarding the divisor for the DJUSRE is available on the CBOT website.

KHD Humboldt Wedag International Celebrates Transfer to the NYSE from Nasdaq

Today, the New York Stock Exchange, a subsidiary of NYSE Euronext (NYSE: NYX), welcomed KHD Humboldt Wedag International Ltd. (NYSE: KHD), a leading supplier of industrial plant engineering and design services, to join the NYSE after the company’s transfer from Nasdaq.

“We are pleased to welcome KHD Humboldt Wedag International Ltd. to the New York Stock Exchange,” said NYSE Euronext CEO & Director John A. Thain. “KHD is an outstanding addition to our roster of NYSE-listed global companies. We look forward to a strong and lasting partnership, and to providing the company and its shareholders with the superior market quality, brand visibility and services associated with the NYSE.”

"The worldwide prestige of a New York Stock Exchange listing will be an advantage for us in dealing with customers and clients all over the world,” said KHD CEO Jim Busche. “We believe it will also be an advantage for our shareholders, and will bring better liquidity to our trading. We are pleased and honored to be joining the New York Stock Exchange”.

The transfer and listing by KHD Humboldt Wedag International Ltd. brings the total number of NYSE-listed companies from greater China to 39, with a total global market capitalization of $1.1 Trillion (including Taiwan) (as of June 18, 2007.) KHD Humboldt Wedag International Ltd. CEO Jim Busche joined by senior executives from the company commemorated the transfer by ringing The Opening Bell.

As far as recent transfers from other markets, the New York Stock Exchange also listed the transfer of American Oriental Bioengineering, Inc. (NYSE: AOB) in Q4 of 2006. The company, an AMEX transfer with a market capitalization of $650 million, is a Chinese producer, marketer and distributor of plant-based pharmaceutical and nutraceutical products.

About KHD Humboldt Wedag International Ltd.
KHD Humboldt Wedag International Ltd. owns companies that operate internationally in the industrial plant engineering and equipment supply industry, and specializes in the cement, coal and mineral industries. To obtain further information on the company, please visit our website at http://www.khdhumboldt.com

About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007 . NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $28.5 trillion/€21.5 trillion total market capitalization of listed companies and average daily trading value of approximately $123.4 billion/€92.4 billion (as of March 31, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.

NASDAQ Announces May Performance Statistics

The Nasdaq Stock Market, Inc. (Nasdaq:NDAQ) today announced its consolidated market performance statistics for the NASDAQ Market Center for the month of May.

NASDAQ's matched market share of all U.S. Equity share volume was a record 28.9% in May 2007, more than any other U.S. exchange. NASDAQ's matched volume in all U.S. securities was 34.7 billion shares, an increase of 15.2% from May 2006(1).

During May, handled market share in NASDAQ-listed securities was 75.5%(2) and matched market share in NASDAQ-listed securities in May was 46.1%.

NASDAQ's matched market share in NYSE-listed securities in May was 15.6%, up from 8.0% a year ago. NASDAQ's handled market share in NYSE-listed securities was 56.3% last month(3).

NASDAQ's total reported market share of all U.S. ETF volume in May was 54.1%, an increase from 52.9% last month.

Included in NASDAQ's handled and total reported share for all U.S. NASDAQ-listed, and NYSE-listed securities are average daily volumes of 1.22, 0.54, and 0.58 billion shares, respectively, reported to the NASD/NASDAQ Trade Reporting Facility(tm) (4).

The table below shows NASDAQ's market share in several individual NYSE-listed securities during May:

                                    Total Reported
                                     Market Share        Matched
                                    --------------      --------
 Market Share

 Quest Communications (Q)               47.7%             23.8%
 Bank of America (BAC)                  40.3%             20.1%
 New Corporation (NWS.A)                39.3%             21.5%
 RadioShack (RSH)                       42.1%             19.1%
 Wal-Mart Stores (WMT)                  39.2%             21.1%

For the month, NASDAQ achieved total reported market share of over 30% in
351 NYSE-listed companies priced over $10 with average daily trading volume of more than 1 million shares.

To view all 351 NYSE-listed companies, visit www.nasdaqtrader.com/trader/ccg_0607.xls.

For more information about these and other NASDAQ market performance statistics, visit www.nasdaqtrader.com/marketshare.

To access the definitions of NASDAQ's market share terminology, visit http://www.nasdaqtrader.com/trader/tradingservices/marketshare/terms.pdf.

  NASDAQ Stock Market, Inc.
                Monthly Volume and Market Share Report
                    (Unaudited; shares in millions)

                                                   Month End
 ---------------------------------------------------------------------
 US Equities Volume                       May-07     Apr-07     May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Volume                    34,672     31,090     30,102
 NASDAQ Total Reported Volume             60,856     54,712     53,663
 NASDAQ Handled Volume                    76,625     70,570     64,778
 Consolidated Volume                     119,819    108,146    113,961

 ---------------------------------------------------------------------
 US Equities Market Share                 May-07     Apr-07     May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Share                       28.9%      28.7%      26.4%
 NASDAQ Total Reported Share                50.8%      50.6%      47.1%
 NASDAQ Handled Share                       64.0%      65.3%      56.8%


 ---------------------------------------------------------------------
 NASDAQ-Listed Equities Volume            May-07     Apr-07    May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Volume                    21,509     19,101     23,198
 NASDAQ Total Reported Volume             33,467     30,039     36,912
 NASDAQ Handled Volume                    35,259     31,731     40,479
 Consolidated Volume                      46,705     41,562     47,839

 ---------------------------------------------------------------------
 NASDAQ-Listed Equities
   Market Share                           May-07     Apr-07     May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Share                       46.1%      46.0%      48.5%
 NASDAQ Total Reported Share                71.7%      72.3%      77.2%
 NASDAQ Handled Share                       75.5%      76.3%      84.6%


 ---------------------------------------------------------------------
 NYSE-Listed Equities Volume              May-07     Apr-07     May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Volume                     9,910      9,477      4,565
 NASDAQ Total Reported Volume             22,120     20,400     12,462
 NASDAQ Handled Volume                    35,711     34,238     19,632
 Consolidated Volume                      63,455     58,694     56,793

 ---------------------------------------------------------------------
 NYSE-Listed Equities Market Share        May-07     Apr-07     May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Share                      15.6%     16.1%       8.0%
 NASDAQ Total Reported Share               34.9%     34.8%      21.9%
 NASDAQ Handled Share                      56.3%     58.3%      34.6%


 ---------------------------------------------------------------------
 US ETFs Volume                           May-07     Apr-07     May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Volume                     3,914     2,832      3,243
 NASDAQ Total Reported Volume              5,831     4,303      5,374
 NASDAQ Handled Volume                     6,161     4,588       n/a
 Consolidated Volume                      10,778     8,137      10,012

 ---------------------------------------------------------------------
 US ETFs Market Share                     May-07     Apr-07     May-06
 ---------------------------------------------------------------------
 NASDAQ Matched Share                      36.3%     34.8%      32.4%
 NASDAQ Total Reported Share               54.1%     52.9%      53.7%
 NASDAQ Handled Share                      57.2%     56.4%       n/a

(1) On Monday, May 21st 2007, NYSE Arca experienced problems reporting trades to the
Consolidated Tape System (CTS). Details of the incident and corrected data
are available at http://www.nysedata.com/nysedata/default.aspx?tabid=155&id=237.
The results reported in this release do not include volume in CTS securities for May 21st.

(2) Figure includes NASD/NASDAQ TRF market share of 25.6%.

(3) Figure includes NASD/NASDAQ TRF market share of 19.2%

(4) NASD is a registered trademark of National Association of Securities Dealers, Inc. and is used under license from National Association of Securities Dealers, Inc.

GE Money Teams up with eBay to Introduce eBay MasterCard

GE Money, the consumer lending unit of General Electric Company (NYSE: GE), announced the eBay™ MasterCard®, an expansion of its partnership with eBay. The card, announced at eBay Live! today, will be available to customers in late June.

eBay MasterCard customers will benefit from a new rewards program, earning one Reward Point for every $1 spent in purchases. Reward Points are also earned with non-Internet, everyday purchases wherever MasterCard is accepted. Points are redeemable for shipping discounts and vouchers that can be used to shop on eBay or to pay eBay seller fees.

Cardholders will enjoy other benefits with the eBay MasterCard, such as the ability to choose from one of three card designs, and the option to add their eBay User ID to the card. The card also features Safe Shipping, which protects them if their item never arrives. The card fits perfectly with PayPal, as customers can view their account activity within their existing PayPal account. Additional benefits include zero percent liability for unauthorized purchases, 24/7 customer service and no annual fee.

eBay will provide promotional and branding support for the eBay MasterCard. GE Money Bank will be responsible for issuing the card, and providing customer service, billing and credit management.

The eBay MasterCard is an expansion of a relationship originally created in June 2004 for GE to offer PayPal Buyer Credit, a private label, revolving credit line available to registered PayPal customers. A PayPal® Plus MasterCard was introduced in May 2006.

“The eBay MasterCard is another great extension of the partnership we’ve built with eBay and PayPal over the past few years to offer rewards, security and convenience for their customers,” said Margaret Keane, president and CEO of GE Money’s Retail Consumer Finance unit. “With the eBay MasterCard, shoppers can apply and buy with an instant online credit process. As with PayPal Plus, there’s no waiting for a card to arrive in the mail before making your eBay purchases.”

“We are excited about the launch of the new eBay MasterCard, and believe eBay members will find the benefits of the card to be compelling,” said Kip Knight, vice president of marketing at eBay.

About GE Money

With $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 55 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 online at www.gemoney.com

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 the company's Web site at www.ge.com

National Semiconductor Prices $1.0 Billion Senior Unsecured Notes Offering

National Semiconductor Corporation (NYSE:NSM) announced today that it has priced a public offering of $1.0 billion principal amount of senior unsecured notes. The offering of senior unsecured notes includes $250 million in aggregate principal amount of senior floating rate notes, $375 million in aggregate principal amount of 6.15 percent senior notes due 2012 and $375 million in aggregate principal amount of 6.60 percent senior notes due 2017. The senior floating rate notes will bear interest at a rate per year equal to the three-month LIBOR plus 0.25 percent, reset and payable quarterly, and will be callable by National beginning 18 months after issuance. The senior fixed rate notes will be callable by National at any time. The sale of the notes is expected to close on June 18, 2007, subject to customary closing conditions.

National plans to use the net proceeds from this offering to partially repay indebtedness under its recent $1.5 billion bridge facility, the proceeds of which are being used to repurchase outstanding shares of National’s common stock pursuant to a $1.5 billion accelerated share repurchase program announced on June 7, 2007.

Goldman, Sachs & Co. is the sole book-running manager, and Banc of America Securities LLC is the co-manager for the offering. The offering of these securities will be made only by means of a prospectus and related prospectus supplement. Copies of the prospectus and related prospectus supplement may be obtained from Goldman, Sachs & Co. by mail at Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, NY 10004, by fax at (212) 902- 9316 or by email at prospectus-ny@ny.email.gs.com

GoFish Corporation Closes $10.3 Million Fixed Price Convertible Debt Financing

GoFish Corporation (OTCBB:GOFH), the leading Internet Video Network showcasing original, Made-for-Internet ('MFI') programming, today announced that it has closed its $10.3 million private placement of convertible notes, together with warrants to purchase 3,862,500 shares of GoFish common stock.

The notes have a fixed conversion price of $1.60 per share and the warrants have a fixed exercise price of $1.75 per share. The conversion price of the notes and exercise price of the warrants will remain fixed, regardless of fluctuations in the market price of GoFish common stock, except in the event of any future equity issuances below the conversion price or exercise price. The notes have a term of three years and bear interest at a rate of 6 percent per annum, payable semi-annually in cash or registered GoFish common stock, at the company's option. The warrants are exercisable after one year from the date of issuance.

GoFish has the right to force conversion of a specified amount of the notes at the then-applicable conversion price so long as GoFish common stock trades at or above $2.06 per share for the preceding twenty consecutive trading days and certain other conditions are satisfied.

About GoFish Corporation

GoFish Corporation, (OTCBB:GOFH) headquartered in San Francisco, is a leading Internet Video Network that, in two years, has grown to deliver millions of videos per month to a rapidly growing audience of enthusiasts. The first publicly traded company in the space and a pioneer in the development of original, Made-for-Internet programming, GoFish is a destination on the web where millions of people come to watch, create, upload and share the best in online video entertainment. For more information about the company, go to www.gofish.com.

Bank of America Names Lewis Warren Jr. to Head Global Large Corporate Treasury Team

Bank of America today named Lewis Warren Jr., as the new Global Large Corporate Treasury Executive, with responsibility for serving the treasury and liquidity management needs of companies with annual revenues of more than $2 billion. The group also manages all treasury business outside the U.S.

Warren will be based in New York and will report to Catherine P. Bessant, President of Global Treasury Services.

Warren joined Bank of America in 2006 as Deputy Head of Global Investment Banking, reporting to Brian Brille, Global Head of Investment Banking. Warren's responsibilities included strategic business planning, senior operational business management and client processes for GIB.

"Lewis Warren understands clients, markets and the treasury business," Bessant said. "He will work closely with our investment banking and corporate banking teams to deliver solutions to our largest clients and those with the most complex treasury management needs. He will provide invaluable leadership to this critical part of our business."

Speaking about Warren's contributions in his current role, Brian Brille said, "Since joining Bank of America, Lewis has made tremendous progress integrating GIB and other Bank of America businesses to deliver a suite of services to our clients. His leadership and focus on improving client processes have served our organization well, and will be a great fit for GTS."

Warren has more than 20 years of investment banking industry experience and has led transactions for a number of Fortune 500 companies. Before joining Banc of America Securities, he served as a Managing Director and Global Head of Business Development for Global Transaction Services for Citigroup, and was a member of the management committee for that group. Over the course of his tenure at Citigroup, Warren was a senior officer in Citigroup's Mergers & Acquisitions Group, including Chief Operations Officer and Head of Canadian M & A.

Bank of America

Bank of America (NYSE: BAC) 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 products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit http://www.bankofamerica.com/

Web Site Developer Bizzuka Raises $1.7 Million in Louisiana Venture Capital

Bizzuka Inc., a leading provider of Web sites, Intranets, and web content management solutions, has raised $1.7 million in financing from Advantage Capital Partners, the Louisiana Technology Fund and several individual investors. The Lafayette-based company will use the funds to accelerate its national expansion plans. The company currently provides custom Web site design and content management services to over 300 small to medium-sized companies throughout the United States.

"It's important for us to continue expanding our product and our presence in a competitive marketplace," said John Munsell, Bizzuka's co-founder and chief executive officer. "With this investment from Advantage, the Louisiana Technology Fund and our angels, we can add the sales and development staff we need and continue to develop Bizzuka into a nationally recognized brand."

One of the goals of the Louisiana Technology Fund is to retain or bring new technology jobs into the state. Since relocating to Lafayette in 2003 from Tampa, Florida, Bizzuka has added 18 new jobs in the technology sector, an area of economic development also targeted by the city of Lafayette. "With the new funding, we expect to add another 20 jobs within the next 12 to 18 months," said Lonnie Rouse, co-founder and Chief Operations Officer.

Bizzuka is the first Lafayette-based company to receive funds from the Louisiana Technology Fund.

"Bizzuka's OnDeCC (On Demand Content and Components) technology brings high levels of capability and sophistication at a reasonable price for a large segment of the market," said Crichton Brown, managing director at Advantage in New Orleans. "We're pleased to invest in a Louisiana company that is serving a nationwide customer base."

Advantage invested its private capital in connection with Louisiana's Certified Capital Companies (CAPCO) program, which encourages the flow of investment capital to promising companies located in the state. These companies, in turn, develop technologies, create jobs and increase economic activity in their communities.

About Bizzuka

Founded in 2000, Bizzuka (http://www.bizzuka.com ) has developed and markets a unique, component based content management platform. In addition to giving companies the ability to easily edit all areas of content within their site, OnDeCC gives companies on-demand access to a library of over 100 Web based applications inside of their Web site, intranet or extranet. Bizzuka creates custom Web site designs for their client sites and also allows advertising agencies and other reseller partners to create custom designs for the OnDeCC platform.

About Advantage Capital Partners

Advantage Capital Partners (http://www.advantagecap.com ) is a private equity and venture capital firm focused on early stage companies and other investments supporting state and local economic development. With offices in New Orleans, St. Louis, Austin and other cities, Advantage has raised more than $750 million in institutional private equity since 1992 and invested in companies located in geographic areas underserved by traditional venture capital.

About the Louisiana Technology Fund

The Louisiana Technology Fund is a partnership of the state's four research parks and Advantage, Enhanced, Whitecap Louisiana Growth Fund and Intertech Venture Fund. All three firms participate in the Louisiana Certified Capital Companies program. The technology fund will invest in companies engaged in or intending to engage in technology-based products or services in information technology, communications, medical, biomedical, advanced materials, food environment or micro-manufacturing technologies. The research parks included are the Louisiana Technology Park in Baton Rouge, University of New Orleans Research and Technology Park, University Research Park in Lafayette and InterTech Science Park in Shreveport.

GE Money and Yahoo! Telemundo Team Up to Help Close Hispanic Financial Education Gap

U.S. Hispanics are projected to spend over $926 billion this year 1; however, research shows they have less understanding and experience managing personal financial matters compared to the average non-Hispanic consumer. GE Money and Yahoo! Telemundo today announced the launch of ‘Soluciones Financieras’ (yahootelemundo.com/soluciones), an online financial education solution that features comprehensive Spanish-language personal finance tools and information designed to empower Hispanics to succeed in their financial lives.

Although many Hispanics are working to integrate successfully into the U.S. financial system, there remains a staggering need for greater emphasis on financial awareness in the Hispanic community. Consider these statistics:

Only 51 percent of Hispanic households have a savings account 2
43 percent of Hispanic workers described their personal knowledge of investing or saving for retirement as "knowing nothing" compared to 12 percent for all workers 3
63 percent of online Spanish-preferring Hispanics feel more comfortable visiting Web sites that are Spanish-language 4
55 percent of online Spanish-preferring Hispanics are more likely to trust companies that have Spanish-language Web sites 5
As noted by industry expert Tamara Barber, data researcher, Forrester Research, Inc. in her April 2007 When To Build A Spanish-Language Web Site, “Companies claim to be serious about their Hispanic customers, but most fail to serve them well online.”

“The online tools offered by our ‘Soluciones Financerias’ section are designed to assist U.S. Hispanics in making better financial decisions, achieve success and further empower a market that is undoubtedly an integral part of the economic engine that drives this country’s growth,” said José Rivera Font, general manager, Audience, Yahoo! Hispanic Americas.

“GE Money recognizes the Hispanic Financial Education challenge and is doing something positive about it,” said Steve Liguori, chief marketing officer for GE Money – Americas. “All consumers need to be empowered with the tools necessary to manage their finances wisely. Through this partnership, each of these organizations is demonstrating a commitment to help Hispanic consumers improve the health and stability of their household finances.”

“Together, GE Money and Yahoo! Telemundo have invested in yet another piece of Spanish-language infotainment to empower our U.S. Hispanic audience to achieve the ‘American Dream,’” adds Peter Blacker, senior vice president, digital media, Telemundo Network Group.

‘Soluciones Financieras,’ part of the ‘Tu Dinero’ section of Yahoo! Telemundo Finanzas, features easy-to-digest information in four key areas of particular interest to U.S. Hispanics including: understanding and managing credit, preventing identity theft, navigating loans and mortgages, and establishing a personal budget. In addition to the slate of existing Yahoo! Telemundo financial content that includes popular financial columnists and economic news, the site also provides best-in-class financial tools such as interactive budgeting, credit card and mortgage calculators, and more.

One of the most powerful elements of yahootelemundo.com/soluciones is the interactive budgeting tool, which helps consumers build their own budget and establish savings goals. The tool gives step-by-step instructions, so consumers can develop and stick to a plan that enables them to reach their goals.

Notes Liguori, " This is the first step in an ongoing effort to offer tailored financial products and services to this vibrant, growing community."

About Yahoo! Telemundo

Yahoo! Telemundo yahootelemundo.com is a commercial venture between Telemundo Communications Group, Inc., a unit GE’s NBC Universal, and Yahoo! Inc. By bringing together Yahoo!'s leading technology, Internet tools and services with the online assets and original television content of Telemundo, Yahoo! Telemundo connects U.S. Hispanics to their passions, their communities and the world's knowledge.

About GE Money

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 55 countries around the world. GE Money, based in Stamford, Conn. (USA), 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 (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 the company's Web site at www.ge.com.

Sources:

1 U.S. Census Projections
2 Synergistics, Hispanic Market Monitor 2005
3 National Council of La Raza, Financial Education in Latino Communities: An Analysis of Programs, Products and Results/Effects, February 2005
4 Forrester’s Hispanic Technographics® Consumer Technology And Marketing Phone Survey, Q1 2007
5 Forrester’s Hispanic Technographics® Consumer Technology And Marketing Phone Survey, Q1 2007

IBM to Acquire Watchfire to Help Customers Guard Against Online Security Attacks and Compliance Breaches

IBM (NYSE: IBM) today announced it has entered into an agreement to acquire Watchfire Corporation, a privately held security and compliance testing software company based in Waltham, Massachusetts. The acquisition is subject to customary regulatory approvals and is expected to close in the third quarter of 2007. Financial details were not disclosed.

Online security and privacy incidents are on the rise which can result in loss of customer trust, costly technology and business remedies and often legal battles. According to a 2005 CSI/FBI Survey, internal security attacks cost U.S. businesses $400 billion per year. Watchfire technology, together with IBM, can help customers reduce these security risks and the associated costs to their bottom line.

Watchfire technology will extend IBM's governance and risk management strategy, with broad security and compliance capabilities integrated into the software development lifecycle. Watchfire with IBM Rational software will help customers integrate web application security and compliance early on and throughout the software development process. As a result, customers will now be able to define, test and track the compliance of their applications with security, legal and corporate requirements.

"Security breaches and lack of compliance with industry and government regulations can topple business integrity and customer trust," said Dr. Danny Sabbah, general manager, IBM Rational software. "Watchfire is a recognized industry leader in the security and compliance market that will further strengthen our ability to help customers mitigate risk by integrating security, quality testing and compliance testing requirements early in the software development process -- before vulnerabilities are exposed."

Watchfire is a leading provider of web application security and compliance testing solutions. IBM Rational software provides clients with comprehensive software quality management solutions, including the ability to perform functional and performance tests while developing software. With the addition of Watchfire technology, customers will now be able to include security, compliance and quality testing as part of their web application development, which will ensure the business integrity of their applications before they go live. Watchfire technology will also complement existing IBM Tivoli identity, access and compliance management software offerings and ISS by extending security and compliance testing as an integrated element of the application development lifecycle.

IBM's acquisition of Watchfire builds upon the existing relationship between the two companies. Founded in 1996, Watchfire is a Ready for IBM Rational software Business Partner, meaning Watchfire validated the integration of their offerings to the IBM Rational Software Delivery Platform. Watchfire has more than 800 customers in many industries around the globe, including but not limited to financial services, government, technology, pharmaceutical, energy and utilities, education, and manufacturing which rely on Watchfire to identify, report and help remediate security vulnerabilities.

"Web application attacks can expose high-value data such as personal information, customer records and corporate intellectual property, and these attacks are top-of-mind for companies worldwide," said Peter McKay, Watchfire President & CEO. "Watchfire technology will extend IBM's broad security and compliance product and services offerings to help customers address one of today's most critical and challenging security issues. In addition, Watchfire can seamlessly integrate into IBM's current offerings to provide a more comprehensive solution."

Watchfire's operations will become part of IBM's Rational software brand, which produced double-digit revenue growth in the first quarter of 2007.

For more information, please visit: www.ibm.com/rational

SEC Settles With IBM for Misleading Statements Regarding Stock Option Expenses

The Securities and Exchange Commission announced today a settled enforcement action against International Business Machines Corporation for making materially misleading statements in a chart concerning the impact that the company's decision to expense employee stock options would have on its first quarter 2005 (1Q05) and fiscal year 2005 (FY05) financial results. The misleading chart caused analysts to lower their earnings per share (EPS) estimates for the company.

Linda Chatman Thomsen, Director of the SEC's Division of Enforcement, said, "Information regarding a company's earnings is one of the most important factors that many investors consider in making an investment decision, and it is essential that the information companies provide be clear and accurate."

The Commission found that IBM provided the misleading information during an April 5, 2005 conference call with analysts. The call was simultaneously webcast, and a transcript and the accompanying exhibits were filed with the Commission in a Form 8-K. During the call, IBM announced that beginning in 1Q05 it would report stock options as an expense in its financial statements and advised analysts to adjust their earnings models to account for the change. At the time, IBM expected that its stock options expense for 1Q05 would have a $0.10 impact on first quarter EPS results and estimated a $0.39 impact on FY05 EPS results. However, IBM did not disclose this information. IBM included a misleading chart in its presentation which, to many analysts, conveyed that the EPS impact of IBM's stock options expense would be $0.14 for 1Q05 and $0.55 for FY05. After IBM's April 5 announcement, the majority of analysts reduced their EPS estimates by these amounts.

SEC Associate Director of Enforcement Scott W. Friestad said, "IBM misled investors by failing to disclose information that would have allowed them to accurately determine the impact that the company's decision to expense stock options would have on its financial results. The facts here are particularly troubling because the disclosure decision was driven, in part, by management's perception of how the news would be interpreted by analysts."

The Commission's Order finds that IBM did not disclose its expected stock options expense because it was concerned that analysts would add back to their EPS estimates any year-to-year reduction in the options expense instead of using the reduction to off-set an unrelated, previously-announced increased pension expense. According to the Order, management wanted to avoid this outcome because it would have increased the expected growth rate that analysts had set for IBM, which would have been difficult for the company to achieve because of the year-to-year increase in pension expense.

On April 14, 2005, IBM announced its 1Q05 financial results and disclosed earnings of $0.85 per share, which was $0.05 less than the amount that many analysts were expecting following the April 5 presentation. IBM also disclosed that its equity compensation expense was $0.10 per share for 1Q05, or $0.04 lower than what many analysts had understood IBM's April 5 misleading chart to have indicated it would be. IBM's stock price dropped $6.94 the next day, or over 8%, closing at $76.33.

The Commission found that IBM violated Section 13(a) of the Securities Exchange Act of 1934 and Rules 13a-11 and 12b-20 thereunder. Without admitting or denying the Commission's findings, IBM consented to the issuance of the Order, which requires IBM to cease and desist from committing or causing violations of these provisions.

Bank of America Hires Kim Hong as head of Global Markets Asia

Bank of America today announced that Kim Hong has joined as Managing Director and head of Global Markets for Asia. Mr. Hong is based in Hong Kong and reports to Jonathan Moulds, president of Europe, the Middle East, Africa (EMEA) and Asia, and regionally to Colm McCarthy, president, Asia.

“Appointing someone of Kim’s calibre highlights the importance Bank of America places on the growth of its EMEA and Asia regions,” says Moulds. “Developing our international business is key to the bank’s Global Markets growth strategy. We’ve made good progress over recent years and have widened our international product offering. Kim’s extensive experience and leadership will be a critical factor to reaching our regional objectives and increasing the level of service we provide to our clients globally.”

McCarthy adds: “Kim will take us to the next level as we continue to align the Asia platform with our core strengths as a global business. I am delighted to welcome him to the team.”

Mr. Hong has more than 20 years of experience in global markets, during which he has held a variety of marketing, product and managerial positions. He joins Bank of America from JP Morgan where he spent seven years in Hong Kong, Korea and Singapore, most recently as the regional co-head of Credit and Rates and Retail Structured Products. A Korean national, Mr. Hong graduated from the University of Chicago before starting his career with Citibank. He later moved to Bankers Trust where he held the role of regional co-head of Investment Banking before moving to JPMorgan in 1999.

About Bank of America

Bank of America (NYSE: BAC) 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 products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit www.bankofamerica.com

In Asia, the bank has had a presence for 60 years and operates in 11 countries in the region with more than 2,200 employees.

IBM and Lehman Brothers jointly invest in Kingdee

IBM (NYSE: IBM) and Lehman Brothers (NYSE: LEH) announced that they are investing in Kingdee International Software Group Company Limited (Kingdee). Following completion of the investment, IBM and Lehman Brothers will each become a shareholder of approximately 3.85% of the issued share capital of Kingdee. Meanwhile, IBM and Kingdee International will form a global alliance to enhance the competitiveness of their clients in China and global markets, and help Kingdee International to become an international company and truly global software provider.


In October 2006, IBM and Lehman Brothers entered into an offshore business alliance with the aim to jointly invest in Chinese enterprises. This business alliance has been described and branded as "The China Investment Fund". As the first major investment by this alliance, the Kingdee transaction represents a cooperative initiative by IBM and Lehman Brothers to help domestic Chinese enterprises develop their management capabilities and grow into world-class corporations.

Since the formation of this business alliance last year, the "China Investment Fund" business alliance has focused on public and private, mid-stage and mature Chinese companies across various industry sectors. IBM and Lehman Brothers aim to help these Chinese companies expand their business and management capabilities by leveraging IBM’s business and operational insights and technology leadership in China, and Lehman Brothers’ global investment banking and private equity expertise and capability. As a leading ERP and E-Commerce solutions provider in the China market, Kingdee has developed into one of the fastest growing ISVs in the global software market. IBM and Lehman Brothers believe that this investment will also be a catalyst for the development of China’s local software industry.

Charles P. Wu, managing partner of China Investment Fund and IBM Greater China Group vice president said he was very pleased with the success of this collaboration. Since its inception, the "China Investment Fund" business alliance has generated a great deal of interest from Chinese enterprises due to its innovative investment approach. The initiative also reinforces IBM’s commitment to supporting the development of the Chinese market. The "China Investment Fund" business alliance should exert significant influence on future investments and business cooperation for IBM in China. Furthermore, this collaborative approach will become a key component of IBM’s China strategy. Wu also said, "IBM remains dedicated to being a reliable innovation partner with the Chinese government and Chinese enterprises. Today, a number of dynamic, mid-stage Chinese enterprises have the potential to become global corporations. As a globally integrated enterprise, we aim to assist them in expanding their business, exploring potential markets and achieving innovations, and to demonstrate IBM’s value as an enabler for their success."

Lehman Brothers has been a pioneer among global investment banks since establishing its presence in China and has launched many first-of-its-kind transactions in the market. Commenting on the first investment made by its business alliance with IBM, Chris Manning, managing director and head of Asia Private Equity, Lehman Brothers said, "China is an important market to Lehman Brothers and is an integral part of our global strategy to expand our franchise in Asia. This partnership with IBM aligns with the Firm’s commitment to offering innovative solutions to service our clients. Kingdee is a leader in China’s enterprise resources planning (ERP) industry, particularly among the small-and-medium-enterprises segment, which offers fast-growing and untapped growth opportunities. We are very excited about this investment opportunity as we are about our investment partnership with IBM in China."

Xu Shaochun, chairman of Kingdee, said, "Until now, Kingdee and IBM have already enjoyed almost ten years of collaboration. During this time, Kingdee has benefited greatly from IBM’s leading technology expertise and comprehensive business experience. As we seek enough capital to grow, this collaboration with the ‘China Investment Fund’ business alliance has further strengthened our relationship with IBM and added a new relationship with Lehman Brothers. We believe that this collaboration will bring more opportunities for us, adding value to our business and helping us to be more competitive in the global market."

Kingdee International and IBM also signed a MOU on global collaboration, mainly on various aspects like globalization and SOA, marketing/sales/channels/customers, consultation and application management services (AMS), and Software as a Service (SaaS).


About IBM
For further information on IBM, please visit www.ibm.com


About Lehman Brothers
Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. For further information about Lehman Brothers' services, products and recruitment opportunities, visit www.lehman.com


About Kingdee
For further information on Kingdee, please visit: http://www.kingdee.com/index.jsp

Cbot Achieves All-time Record For Total Monthly Volume; Average Daily Volume Increases By 16 Percent Over May 2006

The Chicago Board of Trade (CBOT®), one of the world’s leading derivatives exchanges, today announced that total volume for May 2007 was 92,312,946 contracts, establishing a new record for total Exchange volume and exceeding total volume from May 2006 by 16 percent.

May’s average daily volume (ADV) was 4,196,043 contracts, an increase of 16 percent compared with May 2006. The ADV total for May 2007 is the second highest in CBOT history, surpassed only by the 4.5 million contracts traded each day during February 2007.

ADV on the Exchange’s e-cbot® electronic trading platform was 3,349,304 contracts in May 2007, a 31 percent increase compared with May 2006. Year-to-date, CBOT ADV is 3,746,452 contracts, up 17 percent over the same period in 2006.