Towerstream Announces First Quarter 2008 ResultsRevenues increase 31.7% in First Quarter 2008 over First Quarter 2007

MIDDLETOWN, R.I., May 7 /PRNewswire-FirstCall/ -- Towerstream , a leading fixed WiMAX provider currently operating in nine major metropolitan areas, today announced results for the first quarter ended March 31, 2008.

Towerstream Operating Highlights -- Strong first quarter revenue growth with revenues up 31.7% over first quarter 2007 -- Churn 1.35% for the quarter -- First Quarter Net new revenue growth up 89% over 4th quarter 2007 -- New subscriber ARPU increased 9.8% to $842 -- Launched 9th major market -- Dallas-Fort Worth, Texas -- Launched first Towerstream-powered building First Quarter 2008 Results of Operations

Revenue for the quarter ended March 31, 2008 increased 31.7% to $2.1 million, compared to revenue of $1.6 million for the quarter ended March 31, 2007. The increase in revenue was primarily due to increases in ARPU (average revenue per user) and the addition of new customers. Compared to the fourth quarter 2007 revenue of $1.9 million, first quarter 2008 revenue grew 9.2%.

ARPU of new subscribers was $842 for the quarter ended March 31, 2008 compared to $767 for the quarter ended December 31, 2007, a 9.8% increase, and $767 for the quarter ended March 31, 2007, also a 9.8% increase. Customer churn for the first quarter was 1.35% compared to 2.03% for the previous quarter and 1.27% for the prior year period.

Cost of revenues for the first quarter totaled $976,000, producing gross margin of 53.1%, which is down 5.0% from our fourth quarter gross margin of 58.1%. The decrease in gross margin was primarily attributed to expansion into new markets prior to the generation of revenue.

Customer support expenses for the quarter ended March 31, 2008 were $421,000, up from $322,000 in the previous quarter and $160,000 in first quarter 2007, due to increased staffing to support our growing customer base.

Selling expenses for the quarter ended March 31, 2008 totaled $1.8 million, up from $1.4 million in the previous quarter and $343,000 in the first quarter of 2007, primarily due to the expanded sales force as well as advertising costs.

General and administrative expenses remained relatively flat, increasing $48,000, or 2.6%, to $1.9 million in the first quarter of 2008 compared to the fourth quarter of 2007. Compared to the first quarter of 2007, general and administrative expenses increased $489,000, or 34.5%.

The net loss for the first quarter ended March 31, 2008 was $(3.6) million or $(0.10) per share versus a net loss of $(2.7) million or $(0.08) per share for fourth quarter 2007, and $(1.6) million or $(0.07) per share for first quarter 2007.

EBITDA before stock-based compensation for the first quarter was $(2.9) million, compared to $(2.2) million for the previous quarter and $(1.6) million for the first quarter of 2007.

As of March 31, 2008, we had working capital of $34,284,333 due primarily to our capital raising activities in 2007. As of May 5, 2008, there were 34,556,332 shares of Common Stock issued and outstanding.

Key Financial and Operating Highlights (All financial results are in thousands, except loss per share and ARPU) (Unaudited) Three Months Ended 3/31/2008 12/31/2007 3/31/2007* Financial Highlights Revenues $2,082 $1,906 $1,581 Cost of revenues $976 $799 $464 Gross profit margin % 53% 58% 71% Depreciation $677 $601 $362 Customer support services $421 $322 $161 Selling expenses $1,811 $1,442 $343 General and administrative expenses (1) $1,907 $1,859 $1,418 Total operating expenses $5,792 $5,023 $2,748 Loss from operations $(3,710) $(3,117) $(1,167) Interest income $ 289 $527 $104 Interest expense $(183) $(133) $(575) Other (expense)/income $(5) $(4) $(3) Net loss $(3,609) $(2,727) $(1,641) Loss per share $(0.10) $(0.08) $(0.07) EBITDA before Stock-based compensation (2) $(2,864) $(2,213) $(615) Operating Metrics Churn rate (2) 1.35% 2.03% 1.27% ARPU (2) $735 $725 $657 ARPU of new subscribers (2) $842 $767 $767 Number of employees 178 157 51 * Certain reclassifications of prior period amounts have been made to conform to current year presentation. (1) Includes Stock-based compensation of $174, $307 and $193, respectively. (2) See Non-GAAP Measures below for a definition and reconciliation of EBITDA before Stock-based compensation, and definitions of Churn, ARPU and ARPU of new subscribers. Towerstream Outlook for Current Objectives -- We expect revenue growth in the second quarter to be approximately 15% over the first quarter 2008. -- New installed revenue will continue to accelerate. -- Towerstream will focus on penetrating our existing nine markets and getting the existing markets to EBITDA positive on a per market basis. Once we achieve this milestone we will continue to add new markets. -- We expect to be EBITDA positive on a per market basis by end of Q1 2009.

"With our recurring revenue model, it was important for us to have a good first quarter, giving us a good foundation and helping us achieve our revenue goals for the year. Our new installed revenue growth continues to accelerate as more of our sales representatives become seasoned, our pipeline expands and matures and our veteran sales team members continue to hit new highs," said Jeff Thompson, President and Chief Executive Officer. "Combining the revenue growth acceleration with a low churn rate and a cost structure that is expected to remain relatively unchanged throughout 2008, we're positioned well for a strong 2008. We remain very optimistic about the future of WiMAX -- and about Towerstream's position in this burgeoning market."

Conference Call and Webcast

A conference call led by President and Chief Executive Officer, Jeff Thompson, and interim Chief Financial Officer, Maria Perry, will be held on May 7th at 5:00 p.m. EDT to review results and provide an update on business developments.

Interested parties may participate in the conference by dialing 888.679.8033, 617.213.4846 (for international callers) using pass code 94474548. A telephonic replay of the conference may be accessed approximately two hours after the call through June 10, 2008 by dialing 888-286-8010 or 617-801-6888 (for international callers) using pass code 47047520.

The call will also be webcast and can be accessed in a listen-only mode on the company's website at http://www.towerstream.com/.

Towerstream's wireless broadband solution network delivers high-speed Internet access supporting VoIP, bandwidth on demand, wireless redundancy, VPNs, disaster recovery, bundled data, and video services, and can be delivered in days. Unlike cable Internet and DSL, Towerstream connections are symmetrical, which means that the upload and download speeds are identical. This creates a more stable connection, suitable for Voice Over IP and web hosting, as well as many other business applications. Companies utilizing multiple appliances simultaneously, such as streaming video and VoIP, can prioritize their bandwidth to secure mission-critical activities. All of Towerstream's products are backed by its Service Level Agreement (SLA) and the ability to be up and running within a week. Towerstream currently serves businesses of all sizes in New York, Chicago, Miami, Seattle, Los Angeles, Boston, the San Francisco Bay Area, Dallas-Fort Worth and Providence/Newport, RI.

For more information, visit http://www.towerstream.com/. About Towerstream

Towerstream is a leading fixed WiMAX service provider in the U.S., delivering high-speed Internet access to businesses. Founded in 2000, the company has established networks in such markets as New York City, Los Angeles, Miami, Chicago, Seattle, the San Francisco Bay Area, Dallas-Fort Worth and the greater Boston, Providence and Newport, R.I. areas, and continues to expand coverage throughout the country. The company was the first carrier selected to join the WiMAX Forum to assist leading vendors in establishing industry compliance with international broadband wireless access standards and cross-vendor interoperability.

Non-GAAP Measures

The terms "EBITDA before Stock-based compensation", "Churn", "Churn rate" and "ARPU" are measurements used by Towerstream to monitor business performance and are not recognized measures under GAAP. Accordingly, investors are cautioned in using or relying upon these measures as alternatives to recognized GAAP measures. Our methods of calculating these measures may differ from other issuers and, accordingly, may not be comparable to similar measures presented by other issuers.

The term "EBITDA before Stock-based compensation" refers to income before deducting interest, taxes, depreciation, amortization and stock-based compensation. The terms "Churn" and "Churn rate" refer to the percent of revenue lost on a monthly basis from subscribers disconnecting from our networks. The term "ARPU" refers to average revenue per subscriber, calculated as the average revenue for the period divided by the average number of subscribers on the network. ARPU of new subscribers is calculated as the monthly recurring revenue generated by new subscribers during a period divided by the total number of new subscribers added during the period.

The Non-GAAP measure, EBITDA before Stock-based compensation, has been reconciled to the nearest GAAP measure, Net loss, as follows:

Three Months Ended 3/31/2008 12/31/2007 3/31/2007* Reconciliation of Non-GAAP to GAAP: EBITDA before stock-based compensation $(2,864) $(2,213) $(615) Less interest expense (183) (133) (575) Add interest income 289 527 104 Less depreciation and amortization (677) (601) (362) Less stock-based compensation (174) (307) (193) Net loss $(3,609) $(2,727) $(1,641) * Certain reclassifications of prior period amounts have been made to conform to current year presentation. Safe Harbor

Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.

INVESTOR CONTACT: Terry McGovern Vision Advisors 415-902-3001 mcgovern@visionadvisors.net MEDIA CONTACT: Amanda Lordy/ Todd Barrish Dukas Public Relations 212-704-7385 amanda@dukaspr.com / todd@dukaspr.com

Towerstream

CONTACT: Investors, Terry McGovern of Vision Advisors, +1-415-902-3001,
mcgovern@visionadvisors.net; or Media, Amanda Lordy, amanda@dukaspr.com or
Todd Barrish, todd@dukaspr.com, both of Dukas Public Relations,
+1-212-704-7385, all for Towerstream

Web site: http://www.towerstream.com/

NeuStar Reports Results for First Quarter and Updates Guidance for 2008

STERLING, Va., May 7 /PRNewswire-FirstCall/ -- NeuStar, Inc. , a provider of essential clearinghouse services to the communications and Internet industry, today announced consolidated results for the quarter ended March 31, 2008 and updated guidance for 2008. The company also announced that Mark Foster, a Co-Founder of NeuStar, will transition into a senior advisory role from his position as Chief Technology Officer.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080310/NEUSTARLOGO ) Summary of First Quarter Results

Revenue totaled $117.4 million, an increase of 20% from $97.4 million in the first quarter of 2007. The company recorded a net loss for the first quarter of $4.5 million, or $0.06 per diluted share, compared to net income of $18.0 million, or $0.23 per diluted share, in the first quarter of 2007. The net loss in the first quarter of 2008 resulted from a non-cash goodwill impairment charge totaling $29.0 million, which relates to the Next Generation Messaging (NGM) business, acquired for $139 million in cash on November 27, 2006. This charge was driven by changes in market conditions and customer- related events in the first quarter, which are expected to delay our penetration of the nascent mobile instant messaging market in Europe. This caused NeuStar to reduce its NGM forecast triggering an impairment review of NGM goodwill. Absent the goodwill impairment charge of $29.0 million, NeuStar would have recorded net income for the first quarter of $24.6 million, or $0.31 per diluted share.

Discussion of First Quarter Results

NeuStar's year-over-year quarterly revenue growth of 20% was driven primarily by increases in infrastructure transactions under its contracts to provide telephone number portability services in the United States. The company also saw year-over-year increases in revenue from its Next Generation Messaging services, Ultra Services and Common Short Codes.

Transactions under NeuStar's contracts to provide telephone number portability services in the United States totaled 87.0 million for the first quarter of 2008, 22% higher than the 71.2 million transactions for the first quarter of 2007, and 4% above the transaction guidance provided in February.

EBITDA for the quarter totaled $21.1 million, or $0.27 per diluted share, compared to $38.4 million, or $0.49 per diluted share, in the corresponding quarter of 2007. EBITDA for the quarter includes a dollar-for-dollar reduction for the previously discussed goodwill impairment charge of $29.0 million. Absent the goodwill impairment of $29.0 million, EBITDA for the first quarter would have been $50.2 million, or $0.63 per diluted share.

Total operating expense increased to $106.4 million in the first quarter of 2008, compared to $68.1 million in the first quarter of 2007. Operating expense in the first quarter included the previously mentioned $29.0 million goodwill impairment charge.

As of March 31, 2008, NeuStar had $86.5 million in cash, cash equivalents and short-term investments, compared to $198.7 million at December 31, 2007. During the first quarter, the company repurchased $103.8 million of its Class A common stock under its share repurchase program announced on February 19, 2008, with an additional $21.2 million of share repurchases through April 8, 2008. Overall, NeuStar concluded $125 million of repurchases in 2008 with the acquisition of approximately 4.8 million shares.

Business Outlook for 2008 NeuStar provided the following guidance for 2008 results: -- Full year revenue to range between $500 and $515 million; previous guidance was for 2008 revenue to exceed $515 million -- Included in the full year revenue projection is an estimated $20 million of revenue from NeuStar Next Generation Messaging, which is approximately a $15 million decrease from the projection provided in February 2008. -- Net income to exceed $70 million, resulting in net income per diluted share to exceed $0.90 in 2008 based on a diluted share total of 78.0 million; this 2008 net income forecast includes the previously discussed goodwill impairment charge of $29.0 million. -- Full year EBITDA to exceed $177 million, or $2.27 per diluted share in 2008 based on a diluted share total of 78.0 million; the entire reduction in the EBITDA guidance from the $206 million EBITDA guidance provided in February is the result of a dollar-for-dollar reduction for the goodwill impairment charge of $29.0 million previously discussed. -- The company reaffirmed its previous guidance that transactions under its contracts to provide telephone number portability services in the United States should grow to at least 350 million in 2008, an increase of at least 10% over the 2007 total of 318.5 million transactions. -- For the second quarter of 2008, transactions to be in excess of 83 million, up 12% from the same quarter of last year. Management Commentary

Jeff Ganek, NeuStar's Chairman and Chief Executive Officer, said, "NeuStar's first quarter revenue exceeded both our guidance expectations and the first quarter of last year on the strength of NPAC transactions, and on solid year-over-year revenue growth for our expanding range of services. Our business continues to be strong, producing outstanding growth and cash flow. We continue to believe that the growth potential from the mobile instant messaging market is large. Let me point out that our revenue in the nascent mobile instant messaging market is projected to grow from $8 million in 2007 to approximately $20 million in 2008, which is noteworthy, albeit markedly below our previous expectations. When demand increases, NeuStar will be well positioned with its deployed infrastructure and strong customer relationships to significantly grow revenue and profitability."

Jeff Babka, NeuStar's Chief Financial Officer, added, "The reduction of our NGM forecast and the recording of a $29 million impairment charge detracts from what we consider to be a strong start to 2008. From a guidance perspective, it is still early in the year, and thus we believe that incremental revenue from our existing and new service offerings can provide opportunities to attain our original target of 20% growth in revenues for the year, with strong margins and cash flow generation. The underlying fundamentals in this business remain very solid and capable of delivering our stated goals for revenue growth and profitability."

CTO Mark Foster to Become Senior Advisor

NeuStar announced that Mark Foster, Senior Vice President and one of the company's founders, will step down as Chief Technology Officer. Mark will continue to serve as a senior advisor to NeuStar on strategic and other matters.

Jeff Ganek commented, "For the last 12 years, Mark's contributions to the industry and to the company are renowned. From our beginning as a small start-up organization, he led the development of a highly skilled and potent organization, which is now in place, driving technology initiatives and product development for the company. We respect Mark's need to spend more time with his family, and we appreciate his continued commitment to the company as a senior advisor."

Mark Foster added, "NeuStar has great potential for future growth. In my new role as a senior advisor, I aim to actively contribute as an ambassador of NeuStar with industry groups, as well as guide innovation in new products and new markets."

Reconciliation of Non-GAAP Financial Measures

In this press release, NeuStar presented certain non-GAAP financial data. To place this data in an appropriate context, the following is a reconciliation of net income (loss) to EBITDA for the three months ended March 31, 2007 and 2008, and the years ended December 31, 2007 and 2008:

Three Months Ended Year Ended March 31, December 31, 2007 2008 2007 2008(1) (in thousands, except per share data) (unaudited) Net income (loss) $ 17,968 $ (4,460) $ 92,335 $ 70,000 Add: Depreciation and amortization 9,064 10,120 37,731 40,500 Less: Other (expense) income (299) (1,150) (3,465) (4,500) Add: Provision for income taxes 11,663 16,639 60,776 71,000 EBITDA $ 38,396 $ 21,149 $ 187,377 $ 177,000 EBITDA per diluted share $ 0.49 $ 0.27 $ 2.36 $ 2.27 Weighted average diluted common shares outstanding 79,031 79,095 79,235 78,000 (1) For purposes of creating a reconciliation to net income, the amounts expressed in this column are based on an estimated net income of $70 million.

EBITDA and EBITDA per diluted share are not measures of financial performance under GAAP and have no standardized measurement prescribed by GAAP. Management believes that both measures will enhance our investors' understanding of our financial performance and the comparability of the company's operating results to prior periods, as well as against the performance of other companies. However, these non-GAAP financial measures may not be comparable with similar non-GAAP financial measures used by other companies and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. The company provides the foregoing historical and forward-looking reconciliations to the most directly comparable GAAP financial measures to allow investors to appropriately consider each non-GAAP financial measure.

Previously in this press release, NeuStar described what its net income and EBITDA would have been for the first quarter of 2008 in the absence of the $29.0 million goodwill impairment charge relating to the company's NGM business segment, as well as the resulting net income and EBITDA per diluted share amounts associated with those measures. NeuStar has provided this information because the company believes that it will give investors a better understanding of the impact the goodwill impairment charge had on the Company's results for the quarter, and will serve as useful data by which to compare the company's operational performance to the same quarter of 2007 and future periods. As with EBITDA information provided by the Company, this information should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Further, to understand the comparison of the net loss of $0.06 per diluted share for the first quarter of 2008 against the net income of $0.31 per diluted share that the company would have recorded in the absence of the goodwill impairment charge, it is important to note that the weighted average diluted common shares outstanding used to calculate the net loss per diluted share for the quarter was 76.2 million, as compared to the weighted average diluted common shares outstanding used to calculate the net income per diluted share that would have existed if the company had recorded net income for the quarter, which is 79.1 million. This difference in weighted average diluted common shares outstanding results from the exclusion of the dilutive impact of such equity awards in the diluted share calculation when a company records a net loss for the applicable period as opposed to inclusion of equity awards in this calculation when a company records net income.

Conference Call

As announced on April 28, 2008, NeuStar will conduct an investor conference call to discuss the company's results today at 5:00 p.m. (Eastern Time). Investors may access the conference call over the Internet via the Investor Relations tab of the company's website (http://www.neustar.biz/), or via telephone by dialing (888) 670-2260 (international callers dial (913) 312- 1490). Those listening via the Internet should go to the site 15 minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available through Midnight (Eastern Time) Wednesday, May 14, 2008 by dialing (888) 203- 1112 (international callers dial (719) 457-0820) and entering replay PIN 2435914, or by going to the Investor Relations tab of the company's website (http://www.neustar.biz/).

NeuStar will take live questions from securities analysts and institutional portfolio managers; the complete call is open to all other interested parties on a listen-only basis.

This press release, the financial tables and other supplemental information, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures that may be used periodically by management when discussing the company's financial results with investors and analysts, are available on the company's website under the Investor Relations tab.

About NeuStar, Inc.

NeuStar is a provider of essential clearinghouse services to the North American communications industry and Internet service providers around the world. Visit NeuStar online at http://www.neustar.biz/.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about our expectations, beliefs and business results in the future. We have attempted, whenever possible, to identify these forward-looking statements using words such as "may," "will," "should," "projects," "estimates," "expects," "plans," "intends," "anticipates," "believes" and variations of these words and similar expressions. Similarly, statements herein that describe our business strategy, prospects, opportunities, outlooks, objectives, plans, intentions or goals are also forward-looking statements. We cannot assure you that our expectations will be achieved or that any deviations will not be material. Forward-looking statements are subject to many assumptions, risks and uncertainties that may cause future results to differ materially from those anticipated. These potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as disruptions to our clearinghouse operations, modifications to our material contracts, our ability to successfully integrate and support the operations of our acquisitions, increasing competition, market acceptance of our existing services, our ability to successfully develop and market new services, the uncertainty of whether new services will achieve market acceptance or result in any revenue, and business, regulatory and statutory changes in the communications industry. More information about potential factors that could affect our business and financial results is included in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2007 and subsequent periodic and current reports. All forward-looking statements are based on information available to us on the date of this press release, and we undertake no obligation to update any of the forward-looking statements after the date of this press release.

NEUSTAR, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) Three Months Ended March 31, 2007 2008 (unaudited) Revenue: Addressing $ 27,003 $ 30,161 Interoperability 14,932 16,440 Infrastructure and other 55,513 70,812 Total revenue 97,448 117,413 Operating expense: Cost of revenue (excluding depreciation and amortization shown separately below) 23,078 24,489 Sales and marketing 18,636 18,724 Research and development 6,569 7,548 General and administrative 10,769 16,482 Depreciation and amortization 9,064 10,120 Impairment of goodwill -- 29,021 68,116 106,384 Income from operations 29,332 11,029 Other (expense) income: Interest expense (350) (442) Interest and other income 649 1,592 Income before income taxes 29,631 12,179 Provision for income taxes 11,663 16,639 Net income (loss) $ 17,968 $ (4,460) Net income (loss) per common share: Basic $ 0.24 $ (0.06) Diluted $ 0.23 $ (0.06) Weighted average common shares outstanding: Basic 74,688 76,247 Diluted 79,031 76,247

NEUSTAR, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)

December 31, March 31, 2007 2008 ASSETS (audited) (unaudited) Current assets: Cash, cash equivalents and short-term investments $ 198,678 $ 86,455 Restricted cash 488 532 Accounts receivable, net and unbilled receivables 77,015 63,489 Prepaid expenses and other current assets 20,048 21,965 Deferred tax assets 13,907 13,192 Total current assets 310,136 185,633 Property and equipment, net 56,191 57,813 Goodwill and intangible assets, net 240,944 220,975 Other non-current assets 9,390 47,639 Total assets $ 616,661 $ 512,060 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 57,243 $ 57,265 Income taxes payable 3,254 1,999 Deferred revenue 32,236 33,660 Notes payable and capital lease obligations 6,012 6,298 Accrued restructuring reserve 413 426 Other liabilities 108 -- Total current liabilities 99,266 99,648 Deferred revenue, long-term 18,063 16,232 Notes payable and capital lease obligations, long-term 10,923 9,397 Accrued restructuring reserve, long-term 1,793 1,679 Deferred tax liabilities, long-term 2,215 4,022 Other liabilities, long-term 3,866 4,470 Total liabilities 136,126 135,448 Total stockholders' equity 480,535 376,612 Total liabilities and stockholders' equity $ 616,661 $ 512,060

Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080310/NEUSTARLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com NeuStar, Inc.

CONTACT: Investor Relations: Brandon Pugh, +1-571-434-5659,
brandon.pugh@neustar.biz; Media: John Schneidawind, +1-571-434-5596,
john.schneidawind@neustar.biz, both of NeuStar, Inc.

Web site: http://www.neustar.biz/

LSI Announces Webcast for Annual Meeting

MILPITAS, Calif., May 7 /PRNewswire-FirstCall/ -- LSI Corporation today announced that shareholders will be able to access the proceedings of its annual meeting of shareholders at 9 a.m. PDT on Wednesday, May 14, 2008, through a live webcast.

At that time, shareholders and others will be able to follow the meeting in listen-only mode via the internet by going to http://www.lsi.com/webcast and clicking on the audio link.

About LSI

LSI Corporation is a leading provider of innovative silicon, systems and software technologies that enable products which seamlessly bring people, information and digital content together. The company offers a broad portfolio of capabilities and services including custom and standard product ICs, adapters, systems and software that are trusted by the world's best known brands to power leading solutions in the Storage and Networking markets. More information is available at http://www.lsi.com/.

LSI Corporation

CONTACT: Media, Mitch Seigle, +1-408-954-3225, mitch.seigle@lsi.com, or
Investors, Sujal Shah, +1-610-712-5471, sujal.shah@lsi.com, both of LSI
Corporation

Web site: http://www.lsi.com/

Tucows Announces a $10 million Stock Buyback Program

TORONTO, May 7 /PRNewswire-FirstCall/ -- Tucows Inc. (TSX:TC, AMEX: TCX) today announced that its Board of Directors has approved a stock buyback program of up to $10 million for the repurchase of its common stock. Tucows has also filed a notice of intention with the Toronto Stock Exchange ("TSX") to make a normal course issuer bid through the facilities of the TSX. Tucows will have the option to repurchase its shares of common stock either through the facilities of the TSX or the American Stock Exchange.

The notice filed with the TSX provides that Tucows may, during the twelve-month period commencing May 12, 2008, repurchase up to 6,361,769 shares of its common stock, which amount represents approximately 10% of the public float of Tucows. For purposes of any repurchases made on the TSX, Tucows may only purchase up to a maximum of 4,188 shares in any daily trading session, which number represents 25% of the average daily trading volume on the TSX over the six month period ending April 30, 2008, unless the block purchase exception is relied upon. As of May 7, 2008 there were 73,888,542 common shares outstanding. All shares purchased by Tucows under the normal course issuer bid will be cancelled.

The timing and exact number of common shares purchased will be at Tucows' discretion and will depend on market conditions and may be suspended or discontinued at any time. Subject to applicable securities laws and stock exchange rules, all purchases will occur through the open market and may be in large block purchases. Tucows does not intend to purchase its shares from its management team or other insiders.

During Tucows' previous stock buyback program which ended on February 15, 2008, Tucows repurchased 2,616,600 common shares.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. About Tucows

Tucows provides Internet services for web hosting companies and ISPs. Through its global network of over 9,000 service providers it provides millions of email boxes and manages over eight million domains. Tucows is an accredited registrar with ICANN (the Internet Corporation for Assigned Names and Numbers). Tucows holds a domain name portfolio of approximately 150,000 domain names that are available for sale, monetized through advertising and support our wholesale Personal Names Service. Our Retail division sells Tucows services to consumers and small business owners through Domain Direct, ItsYourDomain.com and NetIdentity. Tucows.com remains one of the most popular software download sites on the Internet. For more information please visit: http://about.tucows.com/.

This release may contain forward-looking statements, including the timing and total number of shares to be purchased under the share buyback program, which are based on Tucows Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and are subject to important risks, uncertainties and assumptions concerning future conditions that may ultimately prove to be inaccurate or differ materially from actual future events or results. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, investors should not place undue reliance on these forward-looking statements, which are based on Tucows Inc.'s current expectations, estimates, projections, beliefs and assumptions. These forward-looking statements speak only as of the date of this release and are based upon the information available to Tucows Inc. at this time. Tucows Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Tucows Inc.

CONTACT: Leona Hobbs, Director of Communications, Tucows Inc., (416)
538-5450, lhobbs@tucows.com

Blackboard Inc. First Quarter Revenue Increases 24 Percent to $68.5 MillionFirst Quarter 2008 Revenue and Earnings Exceed GuidanceNTI and WebCT Cross-Selling Begins

WASHINGTON, May 7 /PRNewswire-FirstCall/ -- Blackboard Inc. today announced financial results for the first quarter ended March 31, 2008 and updated guidance for the second quarter and the full year of 2008.

Total revenue for the quarter ended March 31, 2008 was $68.5 million, an increase of 24 percent over the first quarter of 2007. Product revenues for the quarter were $63.1 million, an increase of 26 percent over the first quarter of 2007, while professional services revenues for the quarter were $5.4 million, an increase of 1% over the first quarter of 2007.

Net loss was $3.3 million, resulting in a net loss per basic and diluted share of ($0.11) for the first quarter of 2008 compared to net income of $1.9 million and net income per basic and diluted share of $0.07 for the first quarter of 2007. Non-GAAP adjusted net income for the first quarter of 2008, which excludes the amortization of acquisition-related intangible assets, net of taxes, was $2.0 million, resulting in non-GAAP adjusted net income per diluted share of $0.06 compared to non-GAAP adjusted net income of $5.2 million and non-GAAP adjusted net income per diluted share of $0.18 for the first quarter of 2007.

"We had strong financial results to begin 2008 with our revenue and earnings significantly beating our original guidance," said Michael Chasen, chief executive officer and president for Blackboard. "Our revenue over- performance was driven by continued strong growth in our licensing and managed hosting sales and due to better than expected results from our acquisition of The NTI Group."

Highlights from the First Quarter of 2008

"Our sales team maintained their focus during the first quarter of the NTI acquisition integration and sales training," added Chasen. "We had a meaningful increase in the average deal size closed in the quarter and I was proud of the cross-selling activity that took place with former WebCT clients as well as our ability to sell our new Blackboard Connect(TM) offering into the U.S. higher education market."

-- A few of Blackboard's new and expanded client relationships in the quarter included: -- U.S. Higher Education: Charleston Southern University, Clemson University, Delgado Community College, Edison College, Georgia Institute of Technology, Hillsborough Community College, Louisiana Tech University, Metropolitan Community College, Monroe County Community College, New York University, Owens Community College, Princeton Theological Seminary, Purdue University, Saint Peters College, University of Miami, University System of Georgia, Virginia Community College System, Wake Tech Community College and others. -- International: Aston University, Caribbean University, Dublin City University, Japan Women's University, Kanagawa Prefectual Board of Education, Kanto Gakuin University, Kuanas University of Technology, Osaka University, Ritsumeikan University, Takushoku University, Universidad Espiritu Santo, Universidad Ibero Americana, University of Sydney, University of Sharja, University of Staffordshire, University of Wollongong and others. -- K-12: Atlanta Public Schools (GA), Commonwealth Governor's School (VA), Connecticut Distance Learning (CT), Fairfax County Public Schools (VA), Lubbock Independent School District (TX), Pasadena Independent School District (CA), Richard Milburn High School (VA), Rochester Public Schools (NY) and others. -- Capella University, George Mason University, McMaster University, and Villanova University were among the first former-WebCT clients to purchase the Blackboard Community System(TM) and/or the Blackboard Content System(TM). -- Blackboard completed the acquisition of The NTI Group, Inc., a leading provider of mass messaging and notifications solutions for educational and government organizations via voice, email, SMS, and other text- receiving devices and brought to market the new Blackboard Connect offering. -- In the quarter, there were nearly 150 new Blackboard Connect deals closed and more than twenty Blackboard Connect deals were closed with existing Blackboard U.S. higher education clients. -- Blackboard Learning System(TM) 8 for former WebCT clients was released addressing the remaining outstanding product issues and bringing to market the most stable and scalable eLearning platform to date. -- Blackboard announced the opening of a new datacenter in Mascot, New South Wales, Australia. -- Blackboard launched Blackboard Educator Central(TM), a comprehensive and fully-hosted professional development solution designed to help districts to affordably manage, deliver and evaluate professional development and build powerful educator communities of practice. Outlook for the Second Quarter and Full Year of 2008

"Our team is focused on solid execution across our entire business including the continued successful integration of NTI," commented Michael Chasen. "We expect that the global education industry will remain strong and that Blackboard is well positioned for another great year."

Blackboard is providing the following financial guidance for the second quarter and full year 2008. Investors should note that the Company is also adjusting net interest expense to reflect the impact of lower interest rates on our cash and investments. The Company expects that net interest expense will be approximately $2.7 million higher than our original 2008 guidance.

Second Quarter of 2008: -- Revenue of $74.8 to $76.8 million; -- Amortization of acquired intangibles of approximately $9.9 million; -- Net loss of ($2.9) to ($2.1) million, resulting in net loss per basic share of ($0.09) to ($0.06), which is based on an estimated 31.1 million basic shares and an estimated effective tax rate of 35 percent; and -- Non-GAAP adjusted net income, excluding the amortization of acquired intangibles and the associated tax impact, of $3.2 to $4.0 million, resulting in non-GAAP adjusted net income per diluted share of $0.10 to $0.13 based on an estimated 31.9 million diluted shares and an estimated effective tax rate of 39 percent. Full Year 2008: -- Revenue of $310.5 to $316.5 million; -- Amortization of acquired intangibles of approximately $38.3 million, which is $700,000 higher than our initial 2008 guidance as a result of our final valuation of NTI's intangibles; -- Net interest expense of approximately $5.3 million; -- Net loss of $(3.9) to $(1.5) million, resulting in net loss per basic share of ($0.13) to ($0.05), which is based on an estimated 31.5 million basic shares and an estimated effective tax rate of 35 percent; and -- Non-GAAP adjusted net income excluding the amortization of acquired intangibles and the associated tax impact, of $19.5 to $21.9 million, resulting in non-GAAP adjusted net income per diluted share of $0.61 to $0.69 based on an estimated 31.9 million diluted shares and an estimated effective tax rate of 39 percent. Conference Call

Blackboard will broadcast its first quarter conference call live over the Internet today beginning at 4:30 p.m. (Eastern). Interested parties can access the webcast through the Investor Relations section of the Company's Web site at http://investor.blackboard.com/. Please access the Web site at least 15 minutes prior to the start of the call to register, download and install any necessary software.

A replay of the call will be available via telephone from approximately 6:00 p.m. Eastern (3:00 p.m. Pacific) on May 7, 2008 until 11:00 p.m. Eastern (8:00 p.m. Pacific) on May 14, 2008. To listen to the replay, participants in the U.S. and Canada should dial 888-286-8010, and international participants should dial +1 (617) 801-6888. The conference ID for the replay is 79560013.

BLACKBOARD INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts) Three Months Ended March 31, ----------------------------- 2007 2008 (unaudited) (unaudited) ----------- ----------- Revenues: Product $49,981 $63,109 Professional services 5,299 5,366 ----------- ----------- Total revenues 55,280 68,475 Operating expenses: Cost of product revenues, excludes $2,825 and $4,078 in amortization of acquired technology included in amortization of intangibles resulting from acquisitions shown below, respectively (1) 11,697 15,970 Cost of professional services revenues (1) 3,764 4,948 Research and development (1) 6,953 9,733 Sales and marketing (1) 14,546 20,859 General and administrative (1) 9,317 12,753 Amortization of intangibles resulting from acquisitions 5,399 8,679 ----------- ----------- Total operating expenses 51,676 72,942 ----------- ----------- Income (loss) from operations 3,604 (4,467) Other (expense) income: Interest expense (758) (1,830) Interest income 405 890 Other income 73 310 ----------- ----------- Income (loss) before (provision) benefit for income taxes 3,324 (5,097) (Provision) benefit for income taxes (1,380) 1,804 ----------- ----------- Net income (loss) $1,944 $(3,293) =========== =========== Net income (loss) per common share: Basic $0.07 $(0.11) =========== =========== Diluted $0.07 $(0.11) =========== =========== Weighted average number of common shares: Basic 28,351,872 30,247,568 =========== =========== Diluted 29,428,043 30,247,568 =========== =========== (1) Includes the following amounts related to stock-based compensation: Cost of product revenues $129 $176 Cost of professional services revenues 116 163 Research and development 117 162 Sales and marketing 491 1,416 General and administrative 1,359 1,763 Reconciliation of income (loss) before (provision) benefit for income taxes to non-GAAP adjusted net income (2): Income (loss) before (provision) benefit for income taxes $3,324 $(5,097) Add: Amortization of intangibles resulting from acquisitions 5,399 8,679 Adjusted provision for income taxes (3) (3,512) (1,624) ----------- ----------- Non-GAAP adjusted net income $5,211 $1,958 =========== =========== Non-GAAP adjusted net income per common share - diluted $0.18 $0.06 =========== =========== (2) Non-GAAP adjusted net income and non-GAAP adjusted net income per share are non-GAAP financial measures and have no standardized measurement prescribed by GAAP. Management believes that both measures provide additional useful information to investors regarding the Company's ongoing financial condition and results of operations and since the Company has historically reported these non-GAAP results they provide an additional basis for comparisons to prior periods. The non-GAAP financial measures may not be comparable with similar non-GAAP financial measures used by other companies and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. The Company provides the above reconciliation to the most directly comparable GAAP financial measure to allow investors to appropriately consider each non-GAAP financial measure. (3) Adjusted provision for income taxes is applied at an effective rate of approximately 40.3% and 45.3% for the three months ended March 31, 2007 and 2008, respectively. BLACKBOARD INC. CONDENSED CONSOLIDATED BALANCE SHEETS December 31, March 31, 2007 2008 (unaudited) ------------ ------------ (in thousands, except per share amounts) ASSETS Current assets: Cash and cash equivalents $206,558 $62,366 Accounts receivable, net 52,846 53,097 Inventories 2,089 1,855 Prepaid expenses and other current assets 5,255 7,362 Deferred tax asset, current portion 6,549 6,965 Deferred cost of revenues, current portion 6,793 5,682 ------------ ------------ Total current assets 280,090 137,327 Deferred tax asset, noncurrent portion 34,154 14,667 Deferred cost of revenues, noncurrent portion 84 238 Restricted cash 4,015 4,015 Property and equipment, net 18,584 28,315 Goodwill and intangible assets, net 168,349 369,299 ------------ ------------ Total assets $505,276 $553,861 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $3,747 $7,554 Accrued expenses 24,182 23,634 Deferred rent, current portion 160 415 Deferred revenues, current portion 126,600 114,946 ------------ ------------ Total current liabilities 154,689 146,549 Notes payable, net of debt discount 161,519 161,978 Deferred rent, noncurrent portion 1,469 2,683 Deferred revenues, noncurrent portion 2,925 2,474 Stockholders' equity: Common stock, $0.01 par value 292 309 Additional paid-in capital 263,582 322,361 Accumulated deficit (79,200) (82,493) ------------ ------------ Total stockholders' equity 184,674 240,177 ------------ ------------ Total liabilities and stockholders' equity $505,276 $553,861 ============ ============ BLACKBOARD INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months Ended March 31, ----------------------------- 2007 2008 (unaudited) (unaudited) ----------- ----------- (in thousands) Cash flows from operating activities Net income (loss) $1,944 $(3,293) Adjustments to reconcile net income to net cash provided by (used in) operating activities: Deferred income tax provision (benefit) 883 (1,671) Excess tax benefits from stock-based compensation (1,568) (563) Amortization of debt discount 211 459 Depreciation and amortization 2,512 3,316 Amortization of intangibles resulting from acquisitions 5,399 8,679 Change in allowance for doubtful accounts 43 30 Noncash stock-based compensation 2,212 3,680 Changes in operating assets and liabilities, net of effect of acquisitions: Accounts receivable 11,709 7,842 Inventories 317 234 Prepaid expenses and other current assets (85) (1,033) Deferred cost of revenues 1,234 957 Accounts payable 1,830 457 Accrued expenses (4,856) (4,469) Deferred rent (106) 1,469 Deferred revenues (20,788) (22,149) ----------- ----------- Net cash provided by (used in) operating activities 891 (6,055) Cash flows from investing activities Acquisitions, net of cash acquired - (131,923) Purchase of property and equipment (2,417) (7,944) Payments for patent enforcement costs (1,233) (635) Purchase of intangible assets (1,500) - ----------- ----------- Net cash used in investing activities (5,150) (140,502) Cash flows from financing activities Payments on term loan (5,000) - Payments on letters of credit (338) - Excess tax benefits from stock-based compensation 1,568 563 Proceeds from exercise of stock options 3,134 1,802 ----------- ----------- Net cash (used in) provided by financing activities (636) 2,365 ----------- ----------- Net decrease in cash and cash equivalents (4,895) (144,192) Cash and cash equivalents at beginning of period 30,776 206,558 ----------- ----------- Cash and cash equivalents at end of period $25,881 $62,366 =========== =========== Use of Non-GAAP Financial Measures

This release includes information about the Company's non-GAAP adjusted net income and non-GAAP adjusted net income per share which are non-GAAP financial measures. Management believes that both measures, which exclude amortization of acquired intangibles and the associated tax impact, provide additional useful information to investors regarding the Company's ongoing financial condition and results of operations and aspects of current operating performance which can be effectively managed. Since the Company has historically reported these non-GAAP results to the investment community, management also believes the inclusion of these non-GAAP financial measures provides consistency in its financial reporting and facilitates investors' understanding of the Company's historic operating trends by providing an additional basis for comparisons to prior periods. In addition, the Company's internal reporting, including information provided to the Company's Audit Committee and Board of Directors, contains non-GAAP measures. The Company has also adopted internal compensation metrics that are determined on a basis that excludes amortization of acquired intangibles and the associated tax impact.

A material limitation associated with the use of the above non-GAAP financial measures is that they have no standardized measurement prescribed by GAAP and may not be comparable with similar non-GAAP financial measures used by other companies. The Company compensates for these limitations by providing full disclosure of each non-GAAP financial measure and reconciliation to the most directly comparable GAAP financial measure which investors can use to appropriately consider each financial measure determined under GAAP as well as on the adjusted non-GAAP basis. However, the non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In addition to the information contained in this release, investors should also review information contained in the Company's Form 10-K dated February 20, 2008, as well as other filings with the Securities and Exchange Commission when assessing the Company's financial condition and results of operations.

About Blackboard Inc.

Blackboard Inc. is a leading provider of enterprise software applications and related services to the education industry. Founded in 1997, Blackboard enables educational innovations everywhere by connecting people and technology. Millions of people use Blackboard everyday at academic institutions around the globe, including colleges, universities, K-12 schools and other education providers, as well as textbook publishers and student- focused merchants that serve education providers and their students. Blackboard is headquartered in Washington, D.C., with offices in North America, Europe, Australia and Asia.

Blackboard Educate. Innovate. Everywhere.(TM)

Any statements in this press release about future expectations, plans and prospects for Blackboard and other statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the "Risk Factors" section of our Form 10-K filed on February 20, 2008 with the SEC. In addition, the forward- looking statements included in this press release represent the Company's views as of May 7, 2008. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to May 7, 2008.

Blackboard Inc.

CONTACT: Michael J. Stanton, Vice President, Investor Relations of
Blackboard Inc., +1-202-463-4860, ext. 2305

Web site: http://www.blackboard.com/

Comtech Group, Inc. Reports 2008 First Quarter Results- Q1 Net Revenue: $60.2 million (a year-on-year increase of 35.1%)- Q1 Net Income: $5.3 million GAAP and $7.7 million Non-GAAP with a year-on-year increase of 49.5%- Q1 EPS Diluted: $0.13 GAAP and $0.19 Non-GAAP with a year-on-year increase of 18.2%- Company increases full year guidance to $290 million in revenue and Non-GAAP EPS of $0.92

SHENZHEN, China, May 7 /PRNewswire-FirstCall/ -- Comtech Group, Inc. , a China-based provider of customized module design solutions as well as engineering and technology services to domestic and international technology product companies, today announced unaudited financial results for its first quarter 2008. The Company reported quarterly revenue of $60.2 million, up 35.1% year-over-year, compared to $44.6 million reported in the first quarter of 2007. The Company experienced growth across all end markets -- mobile handset, telecommunication equipment, and digital media, which it believes are among the fastest growing markets in China.

Net income for the first quarter of 2008 was $5.3 million, up 43.0% from $3.7 million in the same period last year, with Non-GAAP net income up 49.5% over the same period last year. Earnings per common share ("EPS") Diluted on a U.S. GAAP basis was $0.13, and Non-GAAP EPS Diluted (which excludes share- based compensation expense and acquisition related costs including amortization of intangible assets and recognized deferred taxation) was $0.19, up 26.7% from the first quarter of 2007.

Key Financial Indicators (all numbers in USD thousands, except share data) Q1 2008(1) Q1 2007(1) Percent Change Consolidated Revenue $60,189 $44,560 35.1% Cost of Revenue $48,439 $36,038 34.4% Gross Profit $11,750 $8,522 37.9% Net Operating Expenses $7,052 $4,495 56.9% Income from Operations $4,698 $4,027 16.7% Net Income(2) $5,281 $3,693 43.0% EPS Diluted $0.13 $0.11 18.2% Non-GAAP EPS Diluted $0.19 $0.15 26.7% (1) The US dollar amounts are calculated based on the conversion rate of US $1 to RMB 7.012 as of March 31, 2008 and US $ 1 to RMB 7.7232 as of March 31, 2007. (2) Included in the Q1 2008 net income was an amount of $1.6 million for share-based compensation expense in accordance with Statement of Financial Accounting Standards of No. 123 (revised 2004), Share-Based Payment ("SFAS 123R") and $0.8 million acquisition related costs including amortization of purchased intangible assets and recognized deferred taxation. Non-GAAP net income excluding the effects of share-based compensation expense and acquisition related costs was $7.7 million or a $0.19 Non-GAAP EPS Diluted in Q1 2008. First quarter highlights and recent updates: -- Plan to change the Company name to Cogo Group, Inc. -- Board approved Yi Yuan as President. -- Signed $10 million telecommunications module solutions contract with ZTE to secure sustainable revenue growth in the telecommunications market. -- Partnered with Freescale Semiconductor to design automotive solutions in China. Recent Developments

The Board of Directors is planning to change the Company's name from Comtech Group, Inc. to Cogo Group, Inc., and which, subject to formal approval, is expected to be effective by the end of May 2008. The Company's COGO trading symbol is expected to remain unchanged on the NASDAQ Global Market, and the Company's operating subsidiaries in China bearing the Comtech brand will continue to use Comtech as their trade name.

Jeffrey Kang, Chairman & Chief Executive Officer, Comtech Group said, "The Company continued to experience solid revenue growth across its key business areas during the first quarter. Results are in line with our projections and reflect better-than-normal seasonality. A strong rebound of the handset business since March has helped to lift our business outlook, and the introduction of new solutions, such as the mobile TV solution, should continue to drive our business in the second half of the year. Finally, we are seeing robust revenue growth in 2008 attributed mostly to organic growth and accretive acquisitions in 2007 such as Keen Awards."

"The new company name will better reflect COGO's corporate strategy and positioning. In addition to the organic growth from our traditional businesses, such as the Comtech branded operations in China, the Company's accretive acquisitions which bear other brands, such as Keen Awards, will also play an increasingly important role in the Company's future expansion. Management expects more acquisitions down the road, similar to our acquisition of Keen Awards in 2007, to boost growth outlook in the near future."

Financial Results

Revenue for the first quarter was $60.2 million, an increase of 35.1% compared to $44.6 million reported for the first quarter of last year. The revenue breakdown is as follows: $24.5 million, or 40.7% of total sales for mobile handsets, representing a 37.0% increase year-over-year; $16.0 million, or 26.7% of total sales for telecommunications equipment, representing a 12.8% increase year-over-year, and $17.4 million, or 28.9% of total sales for digital media products, representing a significant increase of 57.3% year-over-year. The Company's service business contributed $1.9 million in revenues for the first quarter and accounted for approximately 3.1% of total sales, representing a 31.5% increase year-over-year. Also during the quarter, the Company generated revenue from component sales relating to Industrial Business which includes industrial solutions targeted at the Green Energy and Auto-electronics sectors.

Cost of revenues, which includes the aggregate purchase of components from suppliers and the direct cost of services, was $48.4 million compared to $36.0 million, representing an increase of 34.4% year-over-year. Gross profit for the first quarter was $11.8 million, up 37.9% compared to the $8.5 million during the first quarter of last year. Gross margin for the first quarter increased to 19.5% compared to 19.1% reported during the first quarter of 2007 due to a more favorable product mix reflecting growth in higher margin end markets such as the digital media and service business during the first quarter.

Selling, general and administrative expenses totaled $5.7 million, up 67.1%, compared to $3.4 million reported for the first quarter of last year. The increase was attributable to higher staff costs due to an increase in share-based compensation expense, an additional bad debt provision, amortization of intangible assets and other sales related expenses that support our ongoing business. Research and development (R&D) expenses increased by 24.0% to $1.4 million compared to $1.1 million in the first quarter of 2007. The increase was attributable to a rise in R&D personnel related costs and additional expenditures for new market development. Capital Expenditure was $0.4 million compared to $0.1 million during the same quarter in prior year. The increase was attributable to an increase in purchase of properties and equipments. Depreciation was $0.3 million compared to $0.1 million reported in the first quarter of 2007.

Income from operations was $4.7 million, up 16.7% as compared to $4.0 million for the first quarter of 2007. Operating margin for the first quarter was 7.8% versus 9.0% for the first quarter of 2007. Excluding the effects of share-based compensation and acquisition related costs including amortization of purchased intangible assets, operating margin would have been 12.0% for the first quarter of 2008, compared to 12.3% for the same period in 2007. The effective tax rate for the first quarter of 2008 was 8.2%, compared to 9.3% for the same period in 2007. No minority interests' share of income was reported as compared to a minority interests' share of income of $0.07 million over the same period in 2007.

Net income for the first quarter was $5.3 million or EPS Diluted of $0.13 on a U.S. GAAP basis, compared to net income of $3.7 million, or EPS Diluted of $0.11 in the first quarter of 2007. Included in the first quarter 2007 net income was an amount of $1.6 million for share-based compensation expense and $0.8 million for acquisition related costs including amortization of purchased intangible assets and recognized deferred taxation. Excluding the stock-based compensation expense and acquisition related costs including amortization of purchased intangible assets and recognized deferred taxation, the Company would have reported net income of $7.7 million or $0.19 Non-GAAP EPS Diluted for the first quarter. The weighted average number of shares used in the calculation of diluted EPS was 40.0 million compared to 34.3 million in the first quarter of 2007.

Balance Sheet

As of March 31, 2008, the Company completed the quarter with cash of $123.0 million, down slightly from $126.1 million at the fiscal year end 2007, attributable to the payment of acquisition consideration. Inventory decreased from $17.8 at the end of 2007 to $14.3 million as of March 31, 2008. The decrease in inventory was attributable to better inventory control. The Company continues to be in a strong financial position with a current ratio of 4.9 to 1. Inventory turnover has shortened to 27 days. Receivables were collected in an average of 99 days. Operating Cash flows was positive at $1.3 million. Intangible assets decreased slightly from $20.3 million at the end of March 31, 2008 as compared to $20.4 million as of December 31, 2007. Goodwill remained $14.2 million as of March 31, 2008. Shareholders' equity was $210.4 million as of March 31, 2008, a slight increase from $199.3 million as of December 31, 2007.

Business Outlook

Based on current visibility and new business in the pipeline, management is increasing 2008 full year guidance to $290 million in revenue and Non-GAAP EPS Diluted of $0.92. The Company expects to be able to achieve this aggressive goal despite a downturn in the US economy because its business mainly targets the Chinese domestic and newly emerging markets, which are on track to continue their robust upward trajectory and offset any negative news from the US.

Mr. Kang remarked, "The outlook for our business remains strong. COGO has a twelve-year history in which we have weathered many tough situations such as what we are seeing today with the US economy. Despite minor setbacks, the Company has always achieved strong growth. We expect to continue last year's strong performance with robust growth of approximately 30% in both revenue and Non-GAAP EPS Diluted this year. I am confident that our strategies for sustained growth are working, and based on the company's organic expansion and strategic new business and acquisitions in the pipeline, COGO is well-positioned for continued strong results in 2008."

Teleconference Information Comtech 2008 Q1 Earnings Results Conference Call Date/ Time: May 7, 2008 (Wed) @ 4:30 PM (ET) Conference Call: US/ Canada Toll-Free: 1-800-762-8779 International: +1 (480) 629 9041 Webcast/ Audio Recording: http://viavid.net/dce.aspx?sid=00004EC5 . Replay: US/Canada Toll-Free: 1-800-406-7325 (Passcode: 3868113) International: +1 (480) 590 3030 (Passcode: 3868113) About Comtech Group, Inc.:

Comtech Group, Inc. is a leading provider of customized module and subsystem design solutions in China. The Company believes it acts as a proxy to China's technology industry as it works with virtually all the major ODMs and OEMs in China. Comtech leverages these relationships and combines their IP to create designs that Comtech then sells to electronic manufacturers. These designs allow manufacturers to reduce their time to market for new products and ultimately increase sales. Comtech Group focuses on the mobile handset, telecom equipment and digital media end-markets for their customized design modules while also offering business and engineering services to their large telecom equipment vendor customers. Over the last twelve years, Comtech has grown its customer list to include more than 200 of the largest and most well known manufacturers across the mobile handset, telecom equipment and consumer markets in China, covering both multinational Chinese subsidiaries and Chinese domestic companies.

For further information: Investor Relations http://www.comtech.com.cn/investorinfo.html communications@comtech.com.cn H.K.: +852 2730 1518 U.S.: +1 (646) 291 8998 Fax: +86 755 2674 3522 Safe Harbor Statement:

This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about our proposed discussions related to our business such as business with Freescale Semiconductor, Huawei and ZTE or growth strategy such as growth in digital media, mobile handset and telecom businesses, as well as our potential acquisitions which are subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. For a further descriptions of other risks and uncertainties, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings, including our most recent Forms S-1 and/or S-3. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at http://www.sec.gov/.

About Non-GAAP Financial Measures:

To supplement Comtech's consolidated financial results presented in accordance with GAAP, Comtech uses the following measures defined as Non-GAAP financial measures by the SEC: 1) Non-GAAP net income, which is net income excluding share-based compensation expenses and acquisition related costs such as amortization of purchased intangible assets, 2) Non-GAAP basic and diluted earnings per share, which is basic and diluted earnings per share excluding share-based compensation expenses and acquisition related costs such as amortization of purchased intangible assets, 3) Non-GAAP income from operation, which is income from operation excluding share-based compensation expenses and acquisition related costs such as amortization of purchased intangible assets and 4) Non-GAAP operating margin, which is operating margin excluding share-based compensation expenses and acquisition related costs such as amortization of purchased intangible assets. The presentation of these Non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these Non-GAAP financial measures, please see the table captioned "Reconciliations of Non-GAAP measures to the most comparable GAAP measures" set forth at the end of this release.

Comtech believes that these Non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based expenses and acquisition related costs such as amortization of purchased intangible assets that may not be indicative of its operating performance from a cash perspective. Comtech believes that both management and investors benefit from referring to these Non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These Non-GAAP financial measures also facilitate management's internal comparisons to Comtech's historical performance and liquidity. Comtech computes its Non-GAAP financial measures using the same consistent method from quarter to quarter. Comtech believes these non- GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using Non-GAAP net income, Non-GAAP basic and diluted earnings per share, Non-GAAP income from operation and Non-GAAP operating margin is that these Non-GAAP measures exclude share-based compensation charge and acquisition related costs such as amortization of purchased intangible assets that have been and will continue to be for the foreseeable future a recurring expense in our business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each Non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP financial measures that are most directly comparable to Non-GAAP financial measures.

Tables Attached COMTECH GROUP, INC. and SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME FOR THE QUARTERS ENDED MARCH 31, 2008 AND 2007 (in thousands, except share data) Three Months Three Months Three Months Ended Ended Ended March 31, 2008 March 31, 2008 March 31, 2007 $'000 RMB'000 RMB'000 Net Revenue Product sales 58,305 408,835 333,077 Services revenue 1,884 13,210 11,066 60,189 422,045 344,143 Cost of sales Cost of goods sold (47,325) (331,842) (270,599) Cost of services (1,114) (7,814) (7,730) (48,439) (339,656) (278,329) Gross profit 11,750 82,389 65,814 Selling, general and administrative Expenses (5,673) (39,778) (26,219) Research and development expenses (1,374) (9,633) (8,557) Other operating (expenses) /income, net (5) (38) 60 Income from operations 4,698 32,940 31,098 Interest expense (34) (240) (769) Interest income 1,086 7,618 1,700 Income before income taxes and minority interests 5,750 40,318 32,029 Income tax expense (469) (3,291) (2,964) Income before minority interests 5,281 37,027 29,065 Minority interests - - (544) Net income 5,281 37,027 28,521 $ RMB RMB Earnings per share - Basic 0.14 0.95 0.86 - Diluted 0.13 0.93 0.83 Weighted average number of common shares outstanding - Basic 39,056,811 33,057,444 - Diluted 39,961,321 34,317,751 COMTECH GROUP, INC. and SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2008 AND DECEMBER 31, 2007 (in thousands, except share data) March 31, 2008 March 31, 2008 Dec 31, 2007 $'000 RMB'000 RMB'000 Assets Current assets: Cash 122,981 862,342 919,650 Pledged bank deposits 7,128 49,979 51,603 Accounts receivable, net of allowance for doubtful accounts 65,573 459,796 418,329 Bills receivable 7,525 52,762 35,300 Inventories 14,335 100,520 129,892 Prepaid expenses and other receivables 2,963 20,779 18,306 Total current assets 220,505 1,546,178 1,573,080 Property and equipment, net 2,845 19,951 17,848 Intangible assets, net 20,280 142,206 148,659 Investment in an affiliated company 59 416 416 Goodwill 14,186 99,474 99,474 Other assets 134 938 1,063 Total Assets 258,009 1,809,163 1,840,540 Liabilities and stockholders' equity Current liabilities: Trade accounts payable 25,359 177,816 174,628 Bank borrowings - - 9,080 Amounts due to related parties - - 1,403 Income taxes payable 1,480 10,379 6,957 Accrued expenses and other liabilities 17,291 121,241 169,046 Deferred income taxes 587 4,116 4,071 Total current liabilities 44,717 313,552 365,185 Deferred income taxes 2,913 20,425 21,487 Total liabilities 47,630 333,977 386,672 Stockholders' equity Common stock Par value: USD 0.01 Authorized: 200,000,000 Shares; Issued and outstanding: 38,498,769 shares in 2008 and 38,496,167 shares in 2007 449 3,150 3,150 Additional paid-in capital 156,417 1,096,798 1,085,459 Retained earnings 66,366 465,360 428,333 Accumulated other comprehensive loss (12,853) (90,122) (63,074) Total stockholders' equity 210,379 1,475,186 1,453,868 Total liabilities and stockholders' equity 258,009 1,809,163 1,840,540 COMTECH GROUP, INC. and SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES TO THE MOST COMPARABLE GAAP MEASURES FOR THE QUARTERS ENDED MARCH 31, 2008 AND 2007 (in thousands, except share data) Three Months Ended March 31 2008 2007 $'000 $'000 Net Income GAAP net income 5,281 3,693 Share-based compensation expense 1,617 1,208 Acquisition related costs - amortization of purchased intangible assets and recognized deferred taxation 775 230 Non-GAAP net income 7,673 5,131 Income from operation GAAP income from operations 4,698 4,027 Share-based compensation expense 1,617 1,208 Acquisition related costs - amortization of purchased intangible assets 920 230 Non-GAAP income from operation 7,235 5,465 Operating Margin GAAP operating margin 9.7% 9.0% Non-GAAP operating margin 14.9% 12.2% Earnings per share $ $ GAAP net income per common share- Basic 0.14 0.11 GAAP net income per common share- Diluted 0.13 0.11 Non-GAAP net income per common share- Basic 0.20 0.16 Non-GAAP net income per common share- Diluted 0.19 0.15 Weighted average number of common shares outstanding Non-GAAP net income per common share- Basic 39,056,811 33,057,444 Non-GAAP net income per common share- Diluted 39,961,321 34,317,751

Comtech Group, Inc.

CONTACT: Investor Relations, H.K., +852 2730 1518, U.S., +1-646-291-8998,
Fax, +86 755 2674 3522, communications@comtech.com.cn

Web site: http://www.comtech.com.cn/

Intrusion Inc. Announces Financial Release Date and Conference Call

RICHARDSON, Texas, May 7 /PRNewswire-FirstCall/ -- Intrusion Inc. (BULLETIN BOARD: INTZ) , ("Intrusion") will announce first quarter 2008 financial results on Tuesday, May 13, 2008. The press release will be published over the wire services after the market closes. The release will also be available on the company's web site at http://www.intrusion.com/. Intrusion management will review the Company's financial and operational progress for the first quarter 2008 during a conference call later that day at 4:00 P.M., CDT.

Interested investors can access the call at 1-800-399-2043 (outside the United States, please dial 1-706-634-5518) at 4:00 P.M., CDT. For those unable to participate in the live conference call, a replay will be accessible beginning May 13, 2008 at approximately 7:00 P.M., CDT until May 20, 2008 by calling 1-800-642-1687 (if outside the United States, 1-706-645-9291). At the replay prompt, enter conference identification number 46941655. In addition, a live and archived audio webcast of the conference call will be available at http://www.intrusion.com/.

About Intrusion Inc.

Intrusion Inc. is a global provider of data leak prevention, regulated information compliance, entity identification systems, and network intrusion prevention and detection solutions. Intrusion's product families include the Compliance Commander(TM) for data leak prevention and regulated information compliance, TraceCop identification and location system, and Intrusion SecureNet(TM) for network intrusion prevention and detection. Intrusion's products help protect critical information assets by quickly detecting, protecting, analyzing and reporting attacks or misuse of classified, private and regulated information for government and enterprise networks. For more information, please visit http://www.intrusion.com/.

Contact Michael L. Paxton, VP, CFO 972.301.3658, mpaxton@intrusion.com

Photo: http://www.newscom.com/cgi-bin/prnh/20030703/INTRUSIONLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com Intrusion Inc.

CONTACT: Michael L. Paxton, VP, CFO of Intrusion Inc., +1-972-301-3658,
mpaxton@intrusion.com

Web site: http://www.intrusion.com/

VoiceNetworkx Announces Beginning Work Related to Testing 100 Mile Fiber Optic Circuit That Spans From the Inland Empire to Los Angeles

HEMET, Calif., May 7 /PRNewswire-FirstCall/ -- VoiceNetworkx Corporation (Pink Sheets: VNWX) (http://www.voicenetworkx.com/) announced today that it will initiate testing of its fiber optic circuit that spans from the Inland Empire to Los Angeles.

The 100 plus miles long fiber optic circuit, the backbone of the network VoiceNetworkx is building in the Inland Empire, will provide high quality and availability broadband to the subscriber base and other carriers across one of the most densely populated regions of the state of California. Research estimates that VoiceNetworkx's infrastructure, situated along the Highway I-10 and one of the busiest transport arteries in the US, will have access to 2.3 million businesses and residential subscribers.

VoiceNetworkx will provide access to the fiber to other carriers, including regional CLEC's, mobile carriers, financial institutions, Law Enforcement and other ISP's as well as residential and small business subscribers across 3 Counties. The west end of the fiber circuit surfaces at 1 Wilshire Ave in Los Angeles. This is one of the largest and most important Telecom hubs in the nation and the world.

The high capacity circuit will provide the conduit for converged IP traffic for VoiceNetworkx. The fiber runs across or adjacent to 29 cities. "The last-mile is the gap in the all-fiber optic broadband network (currently occupied by older and slower copper cables) between end-user buildings and the much larger beltway fiber optic networks that circle around cities," explained CEO Malcolm Leal. "VoiceNetworkx's sole focus is to replace that copper bottleneck with the 21st Century technology by extending the reach of the fiber to the home using high quality, flexible and affordable wireless access for broadband."

Several Points of Presence along the fiber corridor will be built in the upcoming months in order to accommodate service requests from carriers and businesses/residential subscribers along the circuit.

VoiceNetworkx, Inc.

CONTACT: VoiceNetworkx, Inc., +1-951-571-3344

Web site: http://www.voicenetworkx.com/

CTG Announces Availability of 2008 Annual Meeting Presentation

BUFFALO, N.Y., May 7 /PRNewswire-FirstCall/ -- CTG , an international information technology (IT) solutions and staffing company, today announced that it will post management's presentation to be given at its annual meeting of shareholders on the Company's web site at http://www.ctg.com/ on Wednesday May 14, 2008 at 10:00 AM Eastern Time. The Company's annual meeting will begin at that time at its corporate headquarters in Buffalo, New York. The presentation will focus on CTG's business strategy and its financial results in 2007 and the first quarter of 2008 as well as the outlook for the remainder of 2008. The presentation will be archived in the investors section of the Company's web site for 60 days following the meeting.

Backed by over 40 years' experience, CTG provides IT solutions and staffing to help Global 2000 clients focus on their core businesses and use IT as a competitive advantage to excel in their markets. CTG combines in-depth understanding of our clients' businesses with a full range of integrated services and proprietary ISO 9001:2000-certified service methodologies. Our IT professionals based in an international network of offices in North America and Europe have a proven track record of delivering high-value, industry-specific solutions. More information about CTG is available on the Web at http://www.ctg.com/.

Safe Harbor Statement

The above-referenced presentation will contain certain forward-looking statements concerning the Company's current expectations as to future growth. These statements are based upon a review of industry reports, current business conditions in the areas where the Company does business, the availability of qualified professional staff, the demand for the Company's services, and other factors that involve risk and uncertainty. As such, actual results may differ materially in response to a change in such factors. Such forward-looking statements should be read in conjunction with the Company's disclosures set forth in the Company's 2007 Form 10-K and Management's Discussion and Analysis section of the Company's 2007 annual report, which are incorporated by reference. The Company assumes no obligation to update the forward-looking information contained in this release.

Today's news release, along with CTG news releases for the past year, is available on the Web at http://www.ctg.com/.

CONTACT: Richard Dye (716) 887-7306 richard.dye@ctg.com

CTG

CONTACT: Richard Dye, +1-716-887-7306, or richard.dye@ctg.com

Web site: http://www.ctg.com/

Company News On-Call: http://www.prnewswire.com/comp/198025.html

AT&T and Pyxis Mobile Announce Exclusive Alliance to Deliver Mobile Applications to Financial Services IndustryCompanies to Extend Critical Business Data to AT&T Mobile Devices

SAN ANTONIO and WALTHAM, Mass., May 7 /PRNewswire-FirstCall/ -- AT&T Inc. and Pyxis Mobile today announced an alliance to deliver a suite of wireless solutions that could accelerate the adoption of mobile applications by financial services professionals, enabling them to maximize productivity, stay more connected to clients and keep up with the fast pace of Wall Street.

Under the agreement, AT&T, the nation's leading wireless carrier and the largest provider of BlackBerry(R) services worldwide, will be the exclusive carrier distributor in the United States for Pyxis Mobile, the leading mobile applications provider in the financial services industry. Combined, AT&T and Pyxis Mobile serve more than 200 of the largest global financial services companies.

"We're pleased to be working with Pyxis Mobile to deliver solutions to the financial services community that will enhance the ability to use mobile technology to serve clients, monitor portfolios and stay connected to the minute-by-minute changes in financial markets around the world," said Regina Egea, senior vice president, Business Marketing, AT&T Global Business Services.

"By combining with the vast resources of AT&T, we will have the scale to elevate our industry-leading platform throughout the financial services industry," said Robert Mazzarella, chairman, Pyxis Mobile. "As more financial services companies turn to mobile technology as the linchpin to deliver corporate data and other information to their field forces and clients, we are best-positioned to provide the solutions they require."

AT&T's Financial Focus

This agreement is the latest example of AT&T's recent initiatives to broaden its capabilities in the financial services industry. In the past three years, the company has created an industry solutions mobility applications practice focused on delivering line-of-business applications to banking, investment and insurance firms.

The practice, consisting of dedicated marketing and mobility applications consultants, extended AT&T's leadership position in wireless e-mail for financial services to also provide:

-- Expertise to mobilize financial services business processes. -- A portfolio of line-of-business mobile applications tailored to the work flows and compliance requirements of financial institutions. -- Wireless strategy consulting for financial firms.

"AT&T has gained respect for its thought leadership approach in mobilizing the strategic business process," said Sheryl Kingstone, director, Enterprise Research, Yankee Group. "The increased momentum with industry solutions makes the exclusive distribution relationship with Pyxis Mobile a natural extension of that strategy."

"Mobile communications has moved from being a technology of convenience to a technology of necessity in financial services," said Daniel M. Cain, managing director and chief executive officer of New York investment bank Cain Brothers. "Our team has to have instant access to key data in order to be able to respond to changes in the market or the needs of our clients at any time and from any place. This alliance holds the promise of bringing tremendous scale and resources toward integrating a major wireless provider with a strong mobile application built specifically for the financial services professional."

AT&T and Pyxis Mobile are creating several new solutions as a part of their alliance, including linking AT&T's new Navigator Global Positioning Service (GPS) with the Pyxis Mobile platform. The combination will enable a financial services professional, for example, to access customer data, such as a company's address, from a corporate database and then easily map the location on a wireless device to schedule daily sales appointments.

Single Source, Single Bill

The AT&T and Pyxis Mobile solution will provide end-to-end services from a single source with a single bill. The solution has been thoroughly pretested and certified by AT&T on key enterprise devices, such as BlackBerry smartphones.

Financial services professionals can use intuitive pre-built applications or use Pyxis Mobile's Application Studio to create their own customized mobile applications. With these, professionals can improve productivity and work flow to perform a wide range of tasks by using the AT&T/Pyxis Mobile solution, including:

-- Integrating directly with existing sales, CRM and other enterprise systems. -- Accessing static and real-time reports, such as portfolio holdings, research reports, issuer ratings and commission compliance and performance reports. -- Logging contacts, entering notes, ordering literature, sending e-mail and managing a schedule while in the field without the need for inside support. -- Viewing sector and position-related market research. -- Gaining real-time access to lending approval and status process. -- Accessing a 360-degree "total client" account view across multiple enterprise systems. -- Mobilizing executive dashboards and management reporting.

The agreement also calls for AT&T to provide extended support for Pyxis Mobile's customers through AT&T call centers after Pyxis' normal business hours. AT&T will handle not only network issues but also provide initial software and other product support. In addition, the firms will provide professional services and custom integration through AT&T.

AT&T offers a wide range of strategic mobility products and services to the financial services industry, including wireless e-mail and laptop mobility, on the largest wireless voice and data network in the United States. The AT&T network provides voice connectivity in more than 200 countries and data capabilities in more than 145 countries.

Pyxis Mobile offers mobile financial applications for the investment, insurance and banking industries that provide secure access to enterprise data, where and when users need it. Whether the customer's business process includes data from one source or from many, Pyxis Mobile's industry-specific wireless applications are purpose-built to meet their needs.

For more information on the AT&T and Pyxis Mobile alliance, visit http://www.att.com/pyxismobile.

About AT&T

AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. In 2008, AT&T again ranked No. 1 on Fortune magazine's World's Most Admired Telecommunications Company list and No. 1 on America's Most Admired Telecommunications Company list. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.

(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other AT&T marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.

About Pyxis Mobile

Pyxis Mobile is the leading provider of innovative wireless applications that meet the diverse needs of the financial services industry. Pyxis Mobile provides a collection of award-winning wireless business applications, a library of exclusive 3rd-party content, and a best-in-class Application Studio that empowers the creation of highly specialized mobility configurations to fit any need. To date, Pyxis Mobile applications are in use at 28 of the top 50 global asset managers, 16 of the top 25 insurance carriers, and 3 of the top 5 U.S. banks. Pyxis Mobile's customer list includes such companies as AIM, Blackstone Group, Deutsche Asset Management, Pioneer, Manulife, New York Life Investment, AXA Financial, Henderson Global, Sun Life Financial, and OppenheimerFunds. For more information, contact Pyxis Mobile at 781.997.0300 or visit http://www.pyxismobile.com/.

AT&T Inc.

CONTACT: William Marks of AT&T, +1-404-236-5941, mobile,
+1-404-510-9347, William.Marks@att.com; or Deborah Eisenberg of Pyxis,
+1-646-495-5549, mobile, +1-917-628-7648, pyxis@cognitomedia.com

Web site: http://www.att.com/
http://www.pyxismobile.com/

Orleans Homebuilders Conference Call for Fiscal Third Quarter 2008 Financial Results Scheduled for May 12, 2008

BENSALEM, Pa., May 7 /PRNewswire-FirstCall/ -- Orleans Homebuilders, Inc. will hold a conference call on Monday, May 12, 2008 at 10:00 AM EDT to discuss results for the fiscal third quarter 2008. You may listen to the conference call and view the Company's slide presentation over the internet by going to the "Investor Relations" section of the Company's website at http://www.orleanshomes.com/.

About Orleans Homebuilders, Inc.

Orleans Homebuilders, Inc. develops, builds and markets high-quality single-family homes, townhouses and condominiums. The Company serves a broad customer base including luxury, move-up, empty nester, active adult and first-time homebuyers. The Company currently operates in the following eleven distinct markets: Southeastern Pennsylvania; Central and Southern New Jersey; Orange County, New York; Charlotte, Raleigh and Greensboro, North Carolina; Richmond and Tidewater, Virginia; Chicago, Illinois; and Orlando, Florida. The Company's Charlotte, North Carolina operations also include adjacent counties in South Carolina. To learn more about Orleans Homebuilders, please visit http://www.orleanshomes.com/.

Orleans Homebuilders, Inc.

CONTACT: Garry Herdler of Orleans Homebuilders, Inc., +1-215-245-7500

Web site: http://www.orleanshomes.com/

Overstock.com Teams Up With NBA All-Star Carlos Boozer

SALT LAKE CITY, May 7 /PRNewswire-FirstCall/ -- Utah Jazz All-Star Power Forward, Carlos Boozer, and on-line retailer, Overstock.com, Inc. announced today that they have entered a four-year agreement that will remain active through April 2012 and includes Boozer making appearances on behalf of Overstock.com.

The collegiate and NBA basketball star and current U.S. Olympian, known for his affable personality, is also the co-founder, along with his wife, Cindy, of Boozer's Buddies, a non-profit organization that supports the research and treatment of Sickle Cell Anemia, and provides information and a support system for the families who are affected by it. Partnering with Boozer on his charitable initiatives furthers Overstock.com's longstanding record of funding charitable causes in Utah and throughout the nation. Other non-profit companies to which Overstock.com currently lends support to include the Girl Scouts, U.S. Armed Forces blood bank, Bringing Hope Foundation, and Operation Give.

"Carlos and Cindy share the same values and ideals as Overstock.com, and their commitment to these values is admirably demonstrated by their charitable organization. They are also both avid online shoppers, as they need to supply an 'overstocked' home with all the necessary products to raise three young boys. All of these factors make this relationship a great fit. It will highlight that Utah is home to Overstock.com, Carlos, and Boozer's Buddies. Together we can help a lot of people in the years to come," said Overstock.com chairman and CEO Patrick Byrne, who has been especially eager to further disease research since he cycled across the country in connection with the Pan Mass Challenge and helped raise record-breaking funds for cancer research.

"Overstock.com and Patrick Byrne have a track record of offering socially responsible products, and for reaching out to people who need help. I am really excited to work with such a great company. I look forward to building Overstock.com's presence in the product and consumer marketplace, and building awareness and support for Boozer's Buddies at the same time," said Boozer.

About Overstock.com

Overstock.com, Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/.

Overstock.com(R) is a registered trademark of Overstock.com, Inc.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the continuation of the charitable partnership through April 2012, statements concerning future charitable activities, the company's future assistance in charitable causes, and services to be provided by Mr. Boozer. Our Form 10-K for the year ended December 31, 2007, our subsequent quarterly reports on Form 10-Q, or any amendments thereto, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.

Overstock.com, Inc.

CONTACT: media, Kirstie Burden, +1-801-947-3116, kburden@overstock.com,
or investors, Kevin Moon, +1-801-947-3282, kmoon@overstock.com, both of
Overstock.com, Inc.; or Diana Day of The Landmark Sports Agency, LLC,
+1-310-966-4101, dday@landmarksports.com, for Carlos Boozer

Web site: http://www.overstock.com/

AT&T Flips On Wi-Fi at USA Gymnastics Women's National Team Training CenterAmerican Gymnasts Can Now Leap Online to Stay Better Connected to Friends and Family as They Prepare for 2008 Olympic Games

HUNTSVILLE, Texas, May 7 /PRNewswire-FirstCall/ -- AT&T Inc. today announced the launch of AT&T Wi-Fi(SM) service at the USA Gymnastics Women's National Team Training Center -- the designated training center for the U.S. Women's National Team -- located 60 miles north of Houston. The new AT&T Wi-Fi service will help the U.S. Women's National Team stay connected to friends, family and coaches as the athletes train for the upcoming 2008 Olympic Games in Beijing.

The Wi-Fi launch is part of AT&T's role as an official sponsor for USA Gymnastics to provide financial support, products and services to aid in the training of America's gymnasts. Before today's upgrade, gymnasts and coaches had limited connectivity throughout the training center and experienced slow speeds and little bandwidth during peak usage times throughout training camps, making it difficult to keep up with family and friends.

AT&T Wi-Fi is now broadly available throughout the training center, including the national training gym and office, athlete and coach housing and the other buildings. With AT&T Wi-Fi service, gymnasts, coaches and staff enjoy a convenient, fast and reliable Internet connection and online experience -- without the wires.

"Training for the Olympic Games is no easy feat, and we're proud to help our American gymnasts stay in touch with what's important to them," said Jason Simpson, AT&T director of Olympic Integration. "These athletes have little time to surf the Web and catch up with friends and family. When they have the opportunity to get online, they need a connection that's fast, reliable and easy to access. And that's what we're delivering with AT&T Wi-Fi."

"Our athletes, coaches and staff really appreciate AT&T providing the advanced Wi-Fi network," said Steve Penny, president of USA Gymnastics. "AT&T's support continues to help our country's best gymnasts as they work toward qualifying for Team USA in the 2008 Olympic Games. AT&T Wi-Fi service is already receiving great reviews from the team."

Team USA enthusiasts who want to stay connected to their favorite U.S. athletes can log on to the AT&T blue room (http://www.attblueroom.com/teamusa) to enjoy webcasts of events and exclusive interviews with AT&T U.S. Olympic Team hopefuls. The blue room currently features "USA Gymnastics: Behind the Team," the online series available only on the AT&T blue room Team USA site. U.S. Olympic Team hopeful gymnast Nastia Liukin is featured in an AT&T Tips and Training program episode -- an original production that provides fans access to sport-specific training tips from several elite U.S. Olympic Team hopefuls -- and she also is in the latest AT&T Home Turf episode -- a series of streaming video webisodes in which athletes grant fans a behind-the-scenes peek of life off the clock. AT&T U-verse(SM) TV customers can also connect with U.S. Olympic Team hopefuls with AT&T Tips and Training and "USA Gymnastics: Behind the Team" via AT&T Team USA On Demand.

Today's announcement is the latest step by AT&T to help U.S. Olympic and Paralympic athletes train and compete. AT&T is an official sponsor of the U.S. Olympic Team and provides significant financial support, products and services to the U.S. Olympic Committee.

AT&T will also serve as the official telecommunications services partner of the U.S. Olympic Team for the 2008 Olympic Games in Beijing. In addition to supporting USA Gymnastics, the company serves as an official partner for several National Governing Bodies, including USA Track & Field, USA Diving and USA Swimming.

These sponsorships are an important part of AT&T's mission to connect people with their world, everywhere they live and work, and do it better than anyone else.

Additional information about AT&T's sponsorship of the U.S. Olympic Team is available at http://www.att.com/teamusa2008. For more information on AT&T's products and services, visit http://www.att.com/.

About USA Gymnastics

Based in Indianapolis, USA Gymnastics is the national governing body for gymnastics in the United States. Its mission is to encourage participation and the pursuit of excellence in the sport. Its disciplines include men's and women's artistic gymnastics, rhythmic gymnastics, trampoline and tumbling, and acrobatic gymnastics. For more information, log on to http://www.usa-gymnastics.org/.

About AT&T

AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. In 2008, AT&T again ranked No. 1 on Fortune magazine's World's Most Admired Telecommunications Company list and No. 1 on America's Most Admired Telecommunications Company list. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/.

(C) 2008 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.

Note: This AT&T news release and other announcements are available as part of an RSS feed at http://www.att.com/rss. For more information, please review this announcement in the AT&T newsroom at http://www.att.com/newsroom.

AT&T Inc.

CONTACT: Jill Pawelek of AT&T Corporate Communications, +1-210-352-6967,
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TRX Names William A. Clement, Jr. to Board of Directors

ATLANTA, May 7 /PRNewswire-FirstCall/ -- TRX, Inc. , a global technology company that develops and hosts software applications to process data records and automate manual processes, today announced the appointment of William A. Clement, Jr. to the Company's Board of Directors. He will serve as a director and as a member of the Audit Committee and the Compensation, Corporate Governance, and Nominating Committee of the Company's Board of Directors.

Mr. Clement is considered to be an independent director, as defined by the rules of the NASDAQ Stock Market, and an audit committee financial expert, as defined by the Securities and Exchange Commission.

Mr. Clement is the Chairman & CEO of DOBBS, RAM & Company, a systems integration company that he founded in 1981. He has served in various key roles in the public and private sector during his 40 year career, working in leadership positions with the financial sector. He has also served on several corporate and non-profit boards.

"We are excited for Bill to join our Board of Directors," commented T