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.