2007'02.01.Thu
The9 Reports Fourth Quarter and Fiscal Year 2005 Unaudited Financial Results

February 23, 2006

SHANGHAI, China, Feb. 23 /Xinhua-PRNewswire/ -- The9 Limited (Nasdaq: NCTY), a leading online game operator in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2005. Fourth Quarter 2005 Financial Highlights: - Net revenues for the fourth quarter of 2005 grew by 15% quarter-over- quarter and 2,407% year-over-year to RMB212.2 million (US$26.3 million). - Net revenues attributable to the operation of World of Warcraft(R) ("WoW"), including game playing time, merchandise sales and other related revenues, were RMB211.2 million (US$26.2 million) in the fourth quarter of 2005, a 15% increase from RMB183.5 million (US$22.7 million) in the third quarter of 2005.* - Net income for the fourth quarter of 2005 was RMB68.3 million (US$8.5 million), an 81% increase from RMB37.7 million (US$4.7 million) in the third quarter of 2005. - Adjusted EBITDA (non-GAAP) was RMB108.9 million (US$13.5 million) in the fourth quarter, compared with adjusted EBITDA (non-GAAP) of RMB58.1 million (US$7.2 million) in the third quarter of 2005. - Fully diluted earnings per share (one American Depositary Share "ADS" represents one ordinary share) were RMB2.82 (US$0.35) for the fourth quarter of 2005 compared with RMB1.54 (US$0.19) for the third quarter of 2005. Fully diluted adjusted EBITDA (non-GAAP) per share were RMB4.50 (US$0.56) for the fourth quarter of 2005 compared with RMB2.38 (US$0.29) for the third quarter of 2005. Fiscal Year 2005 Financial Highlights: - Net revenues for the fiscal year 2005 grew by 1,239% year-over-year to RMB465.0 million (US$57.6 million). - Net income for the fiscal year 2005 was RMB72.5 million (US$9.0 million), a 196% increase year-over-year from RMB24.5 million (US$3.0 million) in fiscal year 2004. - Adjusted EBITDA (non-GAAP) was RMB151.7 million (US$18.8 million) for the fiscal year 2005, compared with adjusted EBITDA (non-GAAP) of RMB33.1 million (US$4.1 million) for the fiscal year 2004. - Fully diluted earnings per share were RMB2.92 (US$0.36) for the fiscal year 2005 and adjusted EBITDA (non-GAAP) per share were RMB6.12 (US$0.76) for the fiscal year 2005, compared with fully diluted earnings per share RMB0.87 (US$0.11) and fully diluted adjusted EBITDA (non-GAAP) per share RMB2.28 (US$0.28) for the fiscal year 2004. * We sell prepaid WoW playing time and recognize revenues from such sales based upon the actual usage of WoW playing time by end users. We are provided with data on end users' actual usage of WoW playing time by the licensor of WoW and do not otherwise have direct access to such information pursuant to the license agreement with the licensor. Management Comments: Commenting on the fourth quarter and fiscal year 2005 results, Jun Zhu, Chairman and Chief Executive Officer of The9 Limited, said, "The fourth quarter of 2005 was once again a good quarter for our operation of Blizzard Entertainment's WoW in China. In the fourth quarter, we attained peak and average concurrent WoW users of approximately 530,000 and 270,000, respectively. As of December 31, 2005, approximately 3.3 million paid accounts have been activated. In addition, to further diversify and expand our game portfolio, in December 2005, we successfully obtained the exclusive license to operate Soul of The Ultimate Nation(R) ("SUN"), a highly anticipated Korean 3D massively multiplayer online role playing game ("MMORPG"), in China. We believe that SUN is a great addition to The9's impressive game portfolio of WoW and Granado Espada, which collectively will continue to bring fantastic entertainment experience to online game players throughout China." Hannah Lee, Chief Financial Officer, commented, "We're very pleased to see WoW continue to show great revenue and earnings potential in the fourth quarter of 2005, growing 15% sequentially from the previous quarter. In 2005, we demonstrated our strong operational capability and have set a solid foundation for our long term growth. We are happy that the joint venture of which we have a 30% interest commercially launched the WoW game in other parts of Greater China in early November. We will continue to leverage the high popularity of WoW among Chinese game players while diversifying and expanding our game portfolio in order to deliver long-term sustainable shareholder value." Discussion of The9's Unaudited Fourth Quarter and Fiscal Year 2005 Results Revenues For the fourth quarter of 2005, The9 reported net revenues of RMB212.2 million (US$26.3 million), a 15% increase from the third quarter of 2005. For the fiscal year 2005, net revenues increased by 1,239% to RMB465.0 million (US$57.6 million) from RMB 34.7 million (US$4.3 million) in the fiscal year 2004. The significant revenue increase was mainly due to The9's commercial operation of WoW in China which commenced in June 2005 and continued to grow in the third and fourth quarter of 2005. For the fourth quarter and fiscal year 2005, net revenues attributable to the operation of WoW, including game playing time, merchandise sales and other related revenues, were RMB211.2 million (US$26.2 million) and RMB455.3 million (US$56.4 million), respectively. For the fourth quarter of 2005, online game services gross revenues were RMB220.7 million (US$27.3 million), an increase of 16% from the third quarter of 2005. For the fiscal year of 2005, these revenues were RMB466.6 million (US$57.8 million), compared with RMB0.4 million (US$0.04 million) in the fiscal year of 2004. For the fourth quarter of 2005, gross revenues from game operating support, website solutions and advertisement, which principally relate to the operation of MU by 9Webzen, were RMB0.9 million (US$0.1 million), largely unchanged from the third quarter. For the fiscal year of 2005, these revenues were RMB6.1 million (US$0.7 million), a decrease of 76% from RMB24.7 million (US$3.1 million) in the fiscal year of 2004. The decrease in such revenues was mainly due to the decline in MU revenues. Other revenues mainly included sales of game-related accessories and merchandises related to WoW. For the fourth quarter of 2005, other revenues decreased to RMB1.6 million (US$0.2 million) from RMB3.1 million (US$0.4 million) in the third quarter of 2005. Sales of WoW licensed merchandise were higher in the third quarter of 2005 immediately following the commercial launch of WoW as compared to the fourth quarter. For the fiscal year of 2005, other revenues increased by 2,713% to RMB13.2 million (US$1.6 million) from RMB0.5 million (US$0.06 million) in the fiscal year of 2004. The increase was primarily due to the sales of WoW related merchandise and packages with WoW's commercial launch in June 2005. Gross Profit Gross profit for the fourth quarter of 2005 increased by 5% to RMB97.3 million (US$12.1 million) from RMB92.6 million (US$11.5 million) in the third quarter of 2005 mainly due to increased revenues. Gross profit margin declined to 46% for the fourth quarter of 2005 from 50% in the third quarter of 2005. This was primarily because we recorded three months of intangibles assets amortization related to The9's acquisition of the remaining 31.1% interest in the entity that operates WoW in China and full quarter depreciation relating to the fifth server site which was added in the third quarter, compared to only one month of the above mentioned amortization and depreciation in the third quarter of 2005. For fiscal year 2005, gross profit improved 778% to RMB224.6 million (US$27.8 million) from RMB25.6 million (US$3.2 million) in the fiscal year of 2004. The year-over-year increase of gross profit was primarily due to revenues from our commercial operation of WoW in China, which commenced in June 2005. Operating Expenses For the fourth quarter of 2005, operating expenses increased by 6% to RMB44.7 million (US$5.5 million) from RMB42.2 million (US$5.2 million) in the third quarter of 2005. This was a combined result of increased product development expenses relating to the continuous development of our first self-developed game, Joyful Journey West and a new 3D MMORPG; increased general and administrative expenses due to expenses related to relocation to new office space, depreciation of fixed assets of new office and public company related professional fees. The increase in product development and general and administrative expenses is offset, to a large extent by reduction of sales and marketing expenses compared to the third quarter of 2005 when we conducted more marketing activities in the summer, particularly with the co-marketing campaign with Coca-Cola. For the fiscal year 2005, operating expenses totaled RMB164.9 million (US$20.4 million), a 366% increase from RMB35.3 million (US$4.4 million) for the fiscal year of 2004. This was primarily due to the launch and operation of WoW in China in 2005. Income from Operations For the fourth quarter of 2005, profit from operations increased by 4% to RMB52.6 million (US$6.5 million), compared with RMB50.4 million (US$6.2 million) in the third quarter of 2005. For the fiscal year of 2005, we recorded profit from operations of RMB59.7 million (US$7.4 million), compared to a loss from operations of RMB9.8 million (US$1.2 million) in the fiscal year of 2004. This was primarily due to the operation of WoW in China in 2005. Other Income (Expenses) Other income for the fourth quarter of 2005 was RMB12.2 million (US$1.5 million) compared to other expenses of RMB2.8 million (US$0.3 million) in the third quarter of 2005. This improvement was primarily due to financial subsidy of RMB13.4 million (US$1.7 million) from the local government received in the fourth quarter. For the fiscal year of 2005, other income slightly decreased by 8% to RMB14.5 million (US$1.8 million) from RMB15.8 million (US$2.0 million) in the fiscal year of 2004. This was primarily due to decreased income from sales of Pass9, our proprietary integrated membership management and payment system, and foreign exchange loss due to the appreciation of the Chinese Renminbi as explained in our third quarter's earnings release, partially offset by the financial subsidy received as mentioned above. Gain from Disposal of Certain Equity Interest For the fourth quarter of 2005, we sold 21% of our equity interest in 9Webzen, a joint venture between The9 and Webzen that currently operates a 2.5D MMORPG, MU, to Webzen, thus reducing our equity interest in 9Webzen from 51% to 30%. We recognized approximately RMB6.7 million (US$0.8 million) of gain from this transaction. Equity in Profit (Loss) of Affiliated Companies For the fourth quarter of 2005, equity in loss from affiliated companies, net of taxes, amounted to RMB4.6 million (US$0.6 million), which was sequentially flat compared to a loss of RMB4.6 million (US$0.6 million) for the third quarter of 2005. For the fiscal year of 2005, we recorded RMB13.7 million (US$1.7 million) of equity in losses from affiliated companies, net of taxes, compared to an income of RMB16.6 million (US$2.0 million) for the fiscal year of 2004. This was primarily due to declined revenues in MU which resulted in a loss for 9Webzen in 2005, and also other companies of which we have equity interests are still in the development or early game commercialization stages. Net Income For the fourth quarter of 2005, net income was RMB68.3 million (US$8.5 million), improved 81% sequentially from RMB37.7 million (US$4.7 million) in the third quarter of 2005. This was a result of the cumulative effect of the foregoing factors, as well as the decrease in income allocated to minority interest relating to the 31.1% equity interest of China The9 Interactive Limited ("C9I"), due to the acquisition of the equity interest in C9I in late August 2005. Minority interest of approximately RMB9.3 million (US$1.2 million) was recorded in the third quarter, compared with no comparable minority interest in the fourth quarter. Fully diluted earnings per share and per ADS for the fourth quarter of 2005 was RMB2.82 (US$0.35), compared to RMB1.54 (US0.19) in the third quarter of 2005. For the fiscal year 2005, net income totaled RMB72.5 million (US$9.0 million), a 196% improvement from RMB24.5 million (US$3.0 million) for the fiscal year 2004. Apart from the cumulative foregoing factors, this improvement was also because our effective income tax rate is approximately nil in fiscal year 2005 compared to approximately 83% for the fiscal year 2004 mainly due to the utilization of the deferred tax assets amounted to RMB 4.5 million (US$0.6 million) in fiscal year 2004. Fully diluted earnings per share and per ADS for the fiscal year 2005 was RMB2.92 (US$0.36), compared to RMB0.87 (US0.11) in the fiscal year 2004. Adjusted EBITDA (non-GAAP) is defined as earnings or loss, respectively, before depreciation of fixed assets, impairment and amortization of intangibles, income tax expenses/benefits and share-based compensation expenses relating to stock options granted to directors, employees and consultants, as applicable. For the fourth quarter of 2005, adjusted EBITDA (non-GAAP) was RMB108.9 million (US$13.5 million) compared to adjusted EBITDA (non-GAAP) of RMB58.1 million (US$7.2 million) for the previous quarter. For fiscal year 2005, adjusted EBITDA (non-GAAP) totaled RMB151.7 million (US$18.8 million) compared to adjusted EBITDA (non-GAAP) of RMB33.1 million (US$4.1 million) for the fiscal year 2004. For the fourth quarter of 2005, fully diluted adjusted EBITDA (non-GAAP) per share was RMB4.50 (US$0.56) compared with RMB2.38 (US$0.29) for the third quarter of 2005. For the fiscal year 2005, fully diluted adjusted EBITDA (non-GAAP) per share was RMB6.12 (US$0.76) compared with adjusted EBITDA (non-GAAP) of RMB2.28 (US$0.28). As of December 31, 2005, the Company's total cash and cash equivalents balance was RMB488.2 million (US$60.5 million). The decrease in cash and cash equivalents from RMB793.4 million (US$98.3 million) as at December 31, 2004 was mainly due to the combined result of purchases of servers and prepaid royalty payments to licensor relating to WoW's China operations, and partial payments relating to the purchase of the remaining 31.1% interest in the entity that operates WoW in China, offset in part by receipts of prepaid card proceeds, repayments received against loan receivable and financial subsidy. The conversion of Renminbi (RMB) into U.S. dollars (US$) in this press release is based on the noon buying rate in The City of New York for cable transfers in Renminbi per U.S. dollar as certified for customs purposes by the Federal Reserve Bank of New York as of December 30, 2005 (the last business day of fourth quarter and fiscal year 2005), which was RMB8.0702 to US$1.00. The percentages stated in this press release are calculated based on the RMB amounts. Recent Developments In December 2005, The9 announced that it has entered into an agreement with Webzen, Inc, a leading game developer and operator in Korea, for a three-year exclusive license (from commercialization) to operate the Soul of The Ultimate Nation(TM) ("SUN") game, a 3D MMORPG in China. SUN is currently in the pre-open beta testing stage in Korea, and according to Webzen, SUN registered peak concurrent user level reached approximately 53,000 during this stage. Non-GAAP Measures To supplement the consolidated financial statements presented in accordance with accounting principles generally accepted in the United States ("US GAAP"), The9 uses non-GAAP measures of adjusted EBITDA, which are adjusted from the most directly comparable financial measures calculated and presented in accordance with GAAP to exclude certain expenses. These non-GAAP financial measures are provided to enhance investors' overall understanding of the company's financial performance. Adjusted EBITDA (non-GAAP) is defined as earnings and loss, respectively, before depreciation of fixed assets, amortization of intangibles, income tax expenses/benefits and share-based compensation expenses relating to stock options granted to employees, directors and consultants, as applicable. The company believes its adjusted EBITDA provides useful information to both management and investors as it excludes certain expenses that are not expected to result in future cash payments. This non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. For more information on this non-GAAP financial measure, please see the tables captioned "Reconciliation of non-GAAP to GAAP results" set forth at the end of this release. Conference call / Webcast information The9's management team will host a conference call on Wednesday, February 22, 2006 at 9:30 PM, US Eastern Time, corresponding with Thursday, February 23, 2006 at 10:30 AM Beijing Time, to present an overview of The9's financial performance and business operations. Investors, analysts and other interested parties will be able to access the live conference by calling +1-617-786-2903, password "81178862." In the U.S., members of the financial community may also participate in the call by dialing toll-free +1-800-299-9086, password "81178862". A replay of the call will be available through March 2, 2006. The dial-in details for the replay: U.S. toll free number +1-888-286-8010, International dial-in number +1-617-801-6888; Password "17398479". The9 will also provide a live webcast of the earnings call. Participants in the webcast should log onto the company's web site http://www.corp.the9.com 15 minutes prior to the call, then click on the icon for "Fourth Quarter and Fiscal Year 2005 THE9 LTD Earnings Conference Call" and follow the instructions. About The9 Limited The9 Limited is a leading online game operator in China. The9's business is primarily focused on operating and developing MMORPGs for the Chinese online game players market. The9 directly or through affiliates operates licensed MMORPGs, consisting of WoW, MU and Mystina Online, in China. It has also obtained exclusive licenses to operate additional MMORPGs in China, including Granado Espada and Soul of The Ultimate Nation(TM). In addition, The9 has developed its first proprietary MMORPG titled "Joyful Journey West", which entered all-access public open beta testing in August 2005. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. The9 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about The9's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, The9's limited operating history as an online game operator, political and economic policies of the Chinese government, the laws and regulations governing the online game industry and information disseminated over the Internet in China, intensified government regulation of Internet cafes, The9's ability to retain existing players and attract new players, license, develop or acquire additional online games that are appealing to users, anticipate and adapt to changing consumer preferences and respond to competitive market conditions, and other risks and uncertainties outlined in The9's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1, as amended, and annual report on Form 20-F. The9 does not undertake any obligation to update any forward-looking statement, except as required under applicable law. THE9 LIMITED CONSOLIDATED STATEMENTS OF INCOME (Expressed in Renminbi - RMB and US Dollars - US$, except share data) Quarter Ended December September December December 31, 2004 30, 2005 31, 2005 31, 2005 RMB RMB RMB US$ (unaudited) (unaudited) (unaudited) (unaudited) Revenues: Online game services 57,017 190,369,969 220,717,384 27,349,680 Game operating support, website solutions and advertisement 6,033,581 886,274 887,822 110,012 Short message services 2,700,123 116,256 162,674 20,157 Other revenues 150,089 3,134,976 1,632,734 202,316 8,940,810 194,507,475 223,400,614 27,682,165 Sales Taxes (476,111) (9,668,918) (11,164,248) (1,383,392) Net Revenues 8,464,699 184,838,557 212,236,366 26,298,773 Cost of Services (2,310,151) (92,269,316) (114,950,079)(14,243,771) Gross Profit 6,154,548 92,569,241 97,286,287 12,055,002 Operating Expenses: Product development (2,571,993) (2,943,205) (7,825,264) (969,649) Sales and marketing (5,317,885) (21,732,114) (14,172,398) (1,756,140) General and administrative (7,218,648) (17,498,567) (22,666,412) (2,808,655) Total operating expenses: (15,108,526) (42,173,886) (44,664,074) (5,534,444) Profit (Loss) from operations (8,953,978) 50,395,355 52,622,213 6,520,558 Interest income, net 251,968 2,576,425 642,082 79,562 Other income (expenses), net 15,029,705 (2,791,569) 12,208,696 1,512,812 Income before income tax benefit (expense), gain on investment disposal, minority interest and equity in profit (loss) of affiliated companies 6,327,695 50,180,211 65,472,991 8,112,932 Income tax benefit (expense) (2,621,566) 1,421,498 733,186 90,851 Minority interests 3,107,782 (9,309,731) -- -- Income before gain on investment disposal and equity in profit (loss) of affiliated companies 6,813,911 42,291,978 66,206,177 8,203,783 Gain on investment disposal -- -- 6,715,917 832,187 Equity in profit (loss) of affiliated companies, net of taxes 1,005,285 (4,628,782) (4,601,416) (570,174) Net Income 7,819,196 37,663,196 68,320,678 8,465,796 Accretion to Series A Preference Shares (783,500) -- -- -- Amounts allocated to Series A Preference Shares (2,780,975) -- -- -- Net income attributable to common shareholders 4,254,721 37,663,196 68,320,678 8,465,796 Other comprehensive income (loss): Translation adjustments (1,245) (1,049,913) 1,115,748 138,255 Comprehensive Income 7,817,951 36,613,283 69,436,426 8,604,051 Earnings per share - Basic 0.37 1.56 2.82 0.35 - Diluted 0.27 1.54 2.82 0.35 Weighted average shares outstanding - Basic 11,489,940 24,189,655 24,206,154 24,206,154 - Diluted 15,741,973 24,404,593 24,218,551 24,218,551 THE9 LIMITED CONSOLIDATED STATEMENTS OF INCOME (Expressed in Renminbi - RMB and US Dollars - US$, except share data) Year ended December December December 31, 2004 31, 2005 31, 2005 RMB RMB US$ (audited) (unaudited) (unaudited) Revenues: Online game services 357,085 466,554,760 57,812,044 Game operating support, website solutions and advertisement 24,699,918 6,050,065 749,680 Short message services 11,110,703 3,429,315 424,936 Other revenues 467,690 13,156,712 1,630,283 36,635,396 489,190,852 60,616,943 Sales Taxes (1,912,870) (24,164,182) (2,994,248) Net Revenues 34,722,526 465,026,670 57,622,695 Cost of Services (9,138,206) (240,415,737) (29,790,555) Gross Profit 25,584,320 224,610,933 27,832,140 Operating Expenses: Product development (9,027,559) (40,642,275) (5,036,093) Sales and marketing (9,226,786) (61,805,046) (7,658,428) General and administrative (17,092,563) (62,450,984) (7,738,468) Total operating expenses: (35,346,908) (164,898,305) (20,432,989) Profit (Loss) from operations (9,762,588) 59,712,628 7,399,151 Interest income, net 81,244 10,021,605 1,241,804 Other income (expenses), net 15,791,647 14,467,150 1,792,663 Income before income tax benefit (expense), gain on investment disposal, minority interest and equity in profit (loss) of affiliated companies 6,110,303 84,201,383 10,433,618 Income tax benefit (expense) (5,073,475) (168,255) (20,849) Minority interests 6,871,215 (4,540,568) (562,634) Income before gain on investment disposal and equity in profit (loss) of affiliated companies 7,908,043 79,492,560 9,850,135 Gain on investment disposal -- 6,715,917 832,187 Equity in profit (loss) of affiliated companies, net of taxes 16,571,293 (13,736,790) (1,702,162) Net Income 24,479,336 72,471,687 8,980,160 Accretion to Series A Preference Shares (3,327,633) -- -- Amounts allocated to Series A Preference Shares (9,104,948) -- -- Net income attributable to common shareholders 12,046,755 72,471,687 8,980,160 Other comprehensive income (loss): Translation adjustments 124,370 73,963 9,165 Comprehensive Income 24,603,706 72,545,650 8,989,325 Earnings per share - Basic 1.17 3.00 0.37 - Diluted 0.87 2.92 0.36 Weighted average shares outstanding - Basic 10,276,070 24,187,576 24,187,576 - Diluted 14,528,103 24,800,537 24,800,537 THE9 LIMITED CONSOLIDATED BALANCE SHEETS (Expressed in Renminbi - RMB and US Dollars - US$) As at December December December 31, 2004 31, 2005 31, 2005 RMB RMB US$ (audited) (unaudited) (unaudited) Assets Current Assets Cash and cash equivalents 793,405,288 488,244,667 60,499,699 Accounts receivable 16,686,079 10,593,866 1,312,714 Due from related parties 4,883,135 12,395,125 1,535,913 Advances to suppliers 15,591,310 4,289,443 531,516 Deferred costs -- 24,075,214 2,983,224 Prepayments and other current assets 16,022,357 28,395,864 3,518,607 Prepaid royalties -- 42,995,946 5,327,742 Dividend receivable 8,442,030 -- -- Total current assets 855,030,199 610,990,125 75,709,415 Investments in affiliated companies 88,338,021 46,835,993 5,803,573 Property, equipment and software 8,082,280 231,436,683 28,677,936 Goodwill -- 30,199,751 3,742,132 Intangible assets 33,293,989 289,035,226 35,815,126 Long-term deposits 314,466 3,132,338 388,136 Loan receivable from a related party 38,386,260 -- -- Deferred tax assets, non-current 3,150,000 2,104,464 260,770 Total Assets 1,026,595,215 1,213,734,580 150,397,088 Liabilities and Shareholders' Equity Current Liabilities Accounts payable 2,272,194 15,948,674 1,976,243 Due to related parties 124,251,127 3,181,004 394,167 Income tax payable 607,560 -- -- Other taxes payable 1,299,680 8,123,356 1,006,587 Advances from customers 1,488,478 61,651,267 7,639,373 Deferred revenue 2,222,284 76,514,940 9,481,170 Other payables and accruals 15,640,310 26,793,070 3,320,000 Deferred tax liability, current 1,483,291 -- - Acquisition related liability -- 79,537,653 9,855,723 Total current liabilities 149,264,924 271,749,964 33,673,263 Minority interests 12,165,055 -- - Commitments and contingencies -- -- - Shareholders' Equity Common shares (US$0.01 par value; 24,186,250 and 24,214,130 shares issued and outstanding as of December 31, 2004 and 2005) 2,001,781 2,004,033 248,325 Deferred compensation cost -- (145,864) (18,074) Additional paid-in capital 855,797,000 860,214,342 106,591,452 Statutory reserves 54,172 54,172 6,712 Accumulated other comprehensive income (loss) (14,617) 59,346 7,354 Retained earnings 7,326,900 79,798,587 9,888,056 Total shareholders' equity 865,165,236 941,984,616 116,723,825 Total liabilities and shareholders' equity 1,026,595,215 1,213,734,580 150,397,088 THE9 LIMITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS (Expressed in Renminbi - RMB and US Dollars - US$, except share data) Quarter Ended December September December December 31, 2004 30, 2005 31, 2005 31, 2005 RMB RMB RMB US$ (unaudited) (unaudited) (unaudited) (unaudited) GAAP net income 7,819,196 37,663,196 68,320,678 8,465,796 Depreciation of fixed assets 1,278,594 12,653,810 16,065,956 1,990,775 Amortization of intangibles 168,794 9,232,897 25,248,349 3,128,590 Share-based compensation -- 18,646 18,646 2,310 Income tax expense (benefit) 2,621,566 (1,421,498) (733,186) (90,851) Adjusted EBITDA (Non- GAAP) 11,888,150 58,147,051 108,920,443 13,496,620 -- GAAP earnings per share -- - Basic 0.37 1.56 2.82 0.35 - Diluted 0.27 1.54 2.82 0.35 -- Non-GAAP adjusted EBITDA per share -- - Basic 1.03 2.40 4.50 0.56 - Diluted 0.76 2.38 4.50 0.56 Weighted average shares outstanding - Basic 11,489,940 24,189,655 24,206,154 24,206,154 - Diluted 15,741,973 24,404,593 24,218,551 24,218,551 THE9 LIMITED RECONCILIATION OF NON-GAAP TO GAAP RESULTS (Expressed in Renminbi - RMB and US Dollars - US$, except share data) December December December 31, 2004 31, 2005 31, 2005 RMB RMB US$ (unaudited) (unaudited) (unaudited) GAAP net income 24,479,336 72,471,687 8,980,160 Depreciation of fixed assets 3,358,376 39,463,381 4,890,013 Amortization of intangibles 168,794 39,521,407 4,897,203 Share-based compensation - 69,110 8,564 Income tax expense (benefit) 5,073,475 168,255 20,849 Adjusted EBITDA (Non-GAAP) 33,079,981 151,693,840 18,796,789 -- GAAP earnings per share -- - Basic 1.17 3.00 0.37 - Diluted 0.87 2.92 0.36 -- Non-GAAP adjusted EBITDA per share -- - Basic 3.22 6.27 0.78 - Diluted 2.28 6.12 0.76 -- Weighted average shares outstanding -- - Basic 10,276,070 24,187,576 24,187,576 - Diluted 14,528,103 24,800,537 24,800,537 For further information about The9, please contact: Ms. Dahlia Wei Investor Relations - Senior Manager The9 Limited Tel: +86-21-5172-9990 Email: IR@corp.the9.com Web: http://www.corp.the9.com SOURCE The9 Limited
PR
2007'02.01.Thu
Realty Information Systems, Inc. dba Help-U-Sell(R) Real Estate Appoints Executive Leadership Team

February 23, 2006

CASTLE ROCK, Colo., Feb. 23 /Xinhua-PRNewswire/ -- Steve Ozonian, Chairman of the Board and Chief Executive Officer, and the Board of Directors of Realty Information Systems, Inc. dba Help-U-Sell (R) Real Estate are pleased to announce the appointment of Bryan Drakulich as Executive Vice President, Chief Operating Officer; Laura D. Buser as Senior Vice President Marketing and Communications; and Michael A. Agee as Senior Vice President Technology of Realty Information Systems, Inc. dba Help-U-Sell(R) Real Estate, the premier fee-for-service provider of real estate services, and the nation's fastest-growing real estate franchise. "We are pleased to have Bryan, Laura and Michael join the Help-U-Sell Executive Leadership Team. Their individual and combined talents, and strategic vision for the future of the business, along with their experience and successes in the industry, will play a key strategic and leadership role in the growth and development of Help-U-Sell," said Steve Ozonian, Chairman of the Board and Chief Executive Officer. As Executive Vice President, Chief Operating Officer, Bryan Drakulich will be responsible for network growth, as well as the development and implementation of corporate strategies for global expansion, orchestrating the execution of sales strategies and plans in both company-owned regions and independently owned and operated regions. He will be directly responsible for the growth of company-owned regions, and coordinate growth strategies with Regional Directors of independently owned and operated regions. Bryan will oversee and facilitate relationships with the Regional Directors to develop and implement their individual regional strategic business plans, maximizing the growth of their regions. Additionally, he will be responsible for the development and implementation of all support and training programs for the global network, including Help-U-Sell University, and all regional, broker and associate training for the company, with direct responsibility for corporate-owned regions and facilitation for individually owned and operated regions. Bryan will coordinate regional and franchise support programs with Regional Directors and broker owners in independently owned and operated regions. He will also assume responsibility for the administration of contracts, including UFOC, franchise, regional and broker contracts. Bryan Drakulich joins the Help-U-Sell leadership team with extensive experience in residential sales, commercial sales and leasing, having achieved outstanding successes during a 23-year career within the Help-U-Sell network. Brian is the Regional Director for Help-U-Sell Nevada and Orange County, California Regions, and has owned and operated the top producing Help-U-Sell franchise for the past nine years. He has been a licensed real estate broker for twenty-four years, and has made significant leadership contributions to the company. Laura D. Buser joins Help-U-Sell as Senior Vice President Marketing and Communications. As the Senior Executive responsible for the Help-U-Sell Marketing and Communications Group, Laura will direct the development, implementation, and maintenance of all marketing and communications programs, including marketing, advertising, public relations, brand management, strategic planning, events, and promotions. Additionally, she will be responsible for the management of all external advertising, marketing and public relations vendors. Ms. Buser has extensive experience in the development and implementation of corporate marketing and communications programs. In a career that spanned ten years at Prudential Real Estate and Relocation Services, Laura was Chief of Staff and Director of Marketing. She was a member of the company's senior management team responsible for all aspects of marketing communications, advertising, public relations, events, proposals, surveys and budgeting. She managed the national advertising fund, and was a leader towards expanding the brand and its image. At Prudential, Laura also served as Chief of Staff and Director of Communications and Events, and Director of Public Relations. Prior to that, she worked at The White House, in The Office of Presidential Advance. Immediately prior to joining Help-U-Sell, Laura was Director of Corporate Communications at Triad Financial Corporation. Michael A. Agee has been appointed Senior Vice President Technology. As the Senior Technology Executive with responsibility for Help-U-Sell's Information Technology Group, Agee will be responsible for the development and implementation of all e-commerce and technology-related activities for the company, including the development and management of the technology infrastructure for the corporation, regions, brokers and consumers, as well as the development of joint ventures and web partnerships to produce more leads for the network, and greater revenue leveraging Help-U-Sell's web environment. Michael Agee has more than fifteen years of experience in the development and sales of Internet-based solutions. Prior to joining Help-U-Sell, Michael served as Managing Director of American Pacific Capital Partners, Technology Division. Before American Pacific, Michael directed Corporate Development for Fidelity National Financial's technology subsidiary, MicroGeneral, which later became Fidelity National Information Solutions. While at MicroGeneral, Michael led the company's initiative to create and acquire transaction and process automation tools for the real estate and banking industry. Michael has also held senior positions at Ernst and Young, Hall Kinoin, escrow.com, and Digital Entertainment Group. He is a licensed real estate broker in California. Bryan Drakulich, Laura Buser and Michael Agee all report directly to Steve Ozonian, Chairman of the Board and Chief Executive Officer, and are members of the Help-U-Sell Executive Leadership Committee. Help-U-Sell Real Estate is the premier fee-for-service provider of real estate services empowering consumers with information and choice, and offers a set-fee alternative to paying the traditional commission. Help-U-Sell differs from traditional brokers, not in the level of services provided by its licensed brokers throughout the country, but in the dollar amount that the consumer pays for those services. With approximately 1,000 offices throughout the United States, Entrepreneur Magazine ranked Help-U-Sell Real Estate as the fastest-growing real estate franchise for 2005. For the sixth consecutive year, the company was ranked in the Top 50 across all industries in the magazine's 26th Annual Franchise 500. Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Steve zonian http://profnet.prnewswire.com/ud_public.jsp?userid=10014098 For more information, please contact: Nicole Gross, Idea Lab Tel: +1-856-642-0007 Email: nicole@idealabmarketing.com SOURCE Help-U-Sell Real Estate
2007'02.01.Thu
Piper Jaffray to Host Third Annual China Internet and Technology Conference in Beijing

February 23, 2006

BEIJING, Feb. 23 /Xinhua-PRNewswire/ -- Piper Jaffray & Co. is pleased to announce it is holding its third annual China Internet and Technology Conference February 28 - March 2 in Beijing. The conference will focus on opportunities and challenges in the China Internet and technology industry in 2006 and beyond. Growth for Chinese Internet companies has brought both opportunities and challenges in the past year. In particular, these companies are seeing the increasing cost of success, including declining margins as expenses increase due to competition. At the same time, core market demands remain healthy. These topics will be addressed in presentations and panels of management teams of public and private Internet, semiconductor and hardware companies operating in China, as well as presentations from economists, regional and international private equity funds, industry experts and officials from regulatory agencies. Among focus areas to be discussed are the following key themes: increasing broadband penetration in China and its impact for media consumption; the impact of China's economy moving from a manufacturing economy toward a consumer-based one; the expanding value chain of semiconductor manufacturing; wireless value-added services potentially reaching an inflection point and the growth trajectory; the timing of network upgrades to 3G services and impact to wireless handset and infrastructure suppliers; and the potential for search in China. "We look forward to hosting our third annual China Internet and Technology Conference in Beijing this year," said Safa Rashtchy, senior Internet and media marketing analyst at Piper Jaffray & Co. "This is a great forum for technology investors who want exposure in China. Given our focus on the entire Internet and technology supply chain, investors will have the opportunity to explore multiple areas. This year, we will also introduce new and developing areas of interest, such as music and entertainment, 3G wireless, consumer devices, alternative energy and security technology." Companies scheduled to present include: 51job, Inc., 6688.com, Actions Semiconductor Co., Ltd., Advanced Analogic Technologies Incorporated, Allyes AdNetwork, Analogix Semiconductor Inc., Analysys, ASAT Holdings Limited, Baidu.com, Inc., BaiHe Limited, C2 Capital Corporation, China Interactive, China Techfaith Wireless Communication Technology Limited, China Unistone Acquisition Corp., ChipMOS Technologies Ltd., Cirrus Logic, Inc., Comtech Group, Inc, CSMC Technologies Corporation, Ctrip.com International Inc., DangDang.com, eBay Eachnet, eLong, Inc., Ericsson, Focus Media Holding Limited, Grace Semiconductor Manufacturing Corporation, GSR Ventures, Huawei Technologies Co., Ltd., Hurray! Holding Co. Ltd., Intel Capital, KongZhong Corporation, Linktone Ltd., MagnaChip Semiconductor, Mobile Internet Partners Limited, Motorola, Inc., NetEase.com, Inc., Nokia Corporation, O2Micro International Limited, Pacific Epoch, R2G, Semiconductor Manufacturing International Corporation, Shanda Interactive Entertainment Limited, SHENZHEN POWERCOM Co. Ltd., SiliconCore Technology, SinoMOS Semiconductor (Nigbo), Inc., SmartPay, Softbank Asia Infrastructure Fund (SAIF), Sohu.com Inc., Spreadtrum Communications Inc., STATS ChipPAC Ltd., Suntech Power Holdings Co., Ltd., Supreme Industries, Inc., The9 Limited, TOM Online Inc., Vimicro International Corporation, Walden International, YeePay.com, Yingli Solar, Yucheng Technologies Company and Zhaopin Ltd. Additional companies have also been invited to present. Company and investor participation in the Piper Jaffray China Internet and Technology Conference is by invitation only. Clients interested in attending should contact their Piper Jaffray representative. Members of the media who would like to attend should contact Susan Beatty at 612 303-5680 or susan.l.beatty@pjc.com . Piper Jaffray & Co. is the chief operating subsidiary of Piper Jaffray Companies (NYSE: PJC), a focused securities firm dedicated to delivering superior financial advice, investment products and transaction execution within selected sectors of the financial services marketplace. The company operates through two primary revenue-generating segments: Capital Markets and Private Client Services. Piper Jaffray & Co. has served corporations, government and non-profit entities, institutional investors and the financial advisory needs of private individuals since 1895. With headquarters in Minneapolis, Piper Jaffray has approximately 2,900 employees in 107 offices in 23 states across the country and in London. For more information about Piper Jaffray, visit us online at http://www.piperjaffray.com . Since 1895. Member SIPC and NYSE. For more information, please contact: Susan Beatty, Media Relations, Piper Jaffray Tel: +1-612-303-5680 SOURCE Piper Jaffray & Co.
2007'02.01.Thu
Confederation of Meningitis Organisations Launches Web Site

February 22, 2006

-- COMOonline.org Offers Global Information, Resources
GLOUCESTERSHIRE, England, Feb. 22 /Xinhua-PRNewswire/ -- The Confederation of Meningitis Organisations (COMO), a network of meningitis and children's health organisations throughout the world, today announced the launch of its Web site, http://www.COMOonline.org . The site provides information on COMO and its local member groups and support services, as well as resources for those interested in founding their own local organisations to fight against meningitis. "The Confederation of Meningitis Organisations was founded for the sharing of best practices, information and research across borders," said Philip Kirby, Chief Executive of the Meningitis Trust and President of COMO. "The launch of our Web site will not only strengthen our existing COMO network, but expand and inspire additional efforts to combat meningitis both locally and globally." COMOonline.org features a snapshot of the "Establishing a Meningitis Organisation Tool Kit," a product of the COMO member organisations' shared experiences that will help facilitate the establishment of new organisations to help raise the global profile of meningitis. The complete Tool Kit provides case studies illustrating how different local organisations have been developed and poses important questions to consider when establishing a local group. The Web site also consists of: COMO member organisation profiles; information on upcoming events, activities and programmes; and personal stories from people around the world who have been impacted by meningitis. Established organisations or individuals who are committed to the elimination of meningitis and/or provide support to those affected by the disease are encouraged to apply for COMO membership through the site and request access to the complete Tool Kit, which is available in English, Spanish, French, Italian, Portuguese, German and Mandarin. COMO was established at the first World Conference of Meningitis Organisations (WCMO) in September 2004 and currently is comprised of 14 organisations from 13 countries around the world. For more information, visit http://www.COMOonline.org . Initial support for the COMO Web site has been provided by Wyeth Pharmaceuticals. Note to Editors: COMO The Confederation of Meningitis Organisations' mission is to assist member organisations to be sustainable, identifiable and influential sources for information and support services for those people affected by meningitis in their regions and united in their endeavors globally through their membership of COMO, which is committed to the elimination of meningitis and septicaemia. The founding members include leaders from meningitis and children's health organisations from around the world, including Association Audrey (France), Fundacion Illyria Velasco Carranza (Mexico), GAVI - PneumoADIP (USA), Meningitis Centre (Australia), Meningitis Foundation of America (USA), Meningitis Research Foundation of Canada (Canada), Meningitis Research Foundation (UK and Ireland), Meningitis Trust (Ireland), Meningitis Trust (New Zealand), Meningitis Trust (UK), Moige (Italy), Philippine Foundation for Vaccination (Philippines), Pneumo-Mening (Brazil) and Pneumo-Mening Centre (Taiwan). Meningitis and septicaemia Meningitis can be caused by bacteria (e.g., Haemophilus influenzae type b, Streptococcus pneumoniae and Neisseria meningitidis), as well as viruses. Some bacteria that cause meningitis (inflammation of the lining of the brain) can also cause septicaemia (blood poisoning). Many people who have a meningococcal or a pneumococcal infection have both meningitis and septicaemia, although some have meningitis or septicaemia alone. The early symptoms of meningitis and septicaemia include fever, vomiting, headache, cold hands and feet, rapid breathing, drowsiness, and stomach, joint or muscle pain. These symptoms may not all appear at once and may be accompanied by other symptoms such as a stiff neck and dislike of bright lights. Patients suffering from meningococcal septicaemia often develop a non-blanching rash, called a haemorrhagic rash. Septicaemia can develop quickly and in severe cases, the rash may spread as you watch it. It is important to realise that a rash may not always occur, especially with pneumococcal septicaemia. Both septicaemia and meningitis have high fatality rates. Bacterial meningitis can be treated with a number of effective antibiotics, although some bacteria are developing resistance to these antibiotics. There also are several effective vaccines available to help protect infants, young children and adults against some causes of meningitis, such as S. pneumoniae, N. meningitidis and Haemophilus influenzae. For further information please contact: info@COMOonline.org for general questions and those related to membership For more information, please contact: Philip Kirby Meningitis Trust, United Kingdom, President Tel: +44-14-5376-9011 Bruce Langoulant Meningitis Centre, Australia, Vice President Tel: +61-08-9489-7791 SOURCE Confederation of Meningitis Organisations
2007'02.01.Thu
China Partners with International Expertise to Improve Road Safety `China Seatbelt Intervention Project'

February 22, 2006

BEIJING, Feb. 22 /Xinhua-PRNewswire/ -- National and International members of the China seatbelt intervention Steering Committee will meet today in Beijing to discuss the progress of a leading project in the province of Guangzhou, which addresses the low usage of seatbelt wearing rates among drivers and front seat passengers in China. The China Seatbelt Intervention Project is a co-operation between the Chinese government, international organizations and industry. The implementation of this project is guided by the members of the Steering Committee which includes the Traffic Administration Bureau of the Ministry of Public Security of China, officials from the Ministry of Health, officials from the Public Security and Traffic Departments of Guangzhou Municipal Government, officials and specialists from the WHO, representative of sponsoring company (BP) and technical leaders, The George Institute for International Health. Recognising the potential of this intervention to significantly reduce deaths and injuries on China's roads, the Chinese government has embraced international best practice in line with existing government policy and highlights the intent of the new road safety law. World Health Organization (WHO) Representative in China, Dr Henk Bekedam, spoke out in support of the project, encouraging individuals to take up safer driving practices for the sake of themselves and their families. "Today, China accounts for around 15% of the world's total number of deaths from traffic accidents every year, and the number has been increasing by 10% annually," Dr Bekedam said. "Almost 10,000 road traffic crashes took place in Guangzhou during 2004, resulting in 1,800 deaths and almost 12,000 people injured. Throughout China, this death toll exceeds 100,000 people each year". The high rate of road injury is not surprising considering that motor vehicle production has tripled since the early 1990s. Due to the rapid growth of large urban centres such as Guangzhou there is an urgent need to implement proven road safety interventions". The China Seatbelt Intervention Project', communicates a very clear and simple message for motor vehicle drivers and passengers -- `Seatbelts save lives," added Dr Bekedam. It is internationally recognised that the use of seatbelts is a key measure in reducing the number of deaths in traffic crashes. Research indicates up to 70% of deaths from car crashes could be prevented if the occupants wore seatbelts. However, despite the availability of seatbelts in almost all passenger cars in China, along with laws stipulating the use of seatbelts, their use is low. The George Institute for International Health officially launched the `China Seatbelt Intervention Project' in Guangzhou in mid-2005. Adopting practices found successful around the world, senior police and traffic officers attended seatbelt law enforcement training and commenced intensive enforcement program in October 2005, in which almost 3000 vehicles were inspected and 1000 drivers or passengers not wearing their seatbelt were penalized or educated. This scientific approach will assist policy makers to best identify how to carry out this type of intervention and demonstrate how to gain the most impact and benefits to Chinese citizens. To complement the intervention, an intensive social marketing campaign is underway, focusing on raising awareness of road traffic safety laws, according to the Traffic Command and Control Center of Guangzhou Municipal Bureau of Public Security. It is being rolled out in collaboration with training managers of taxi companies and members of traffic safety committees. The center reports: "Guangzhou police have indicated that since the launch of the China Seatbelt Intervention, a series of activities including social marketing campaigns, taxi companies' management and enhanced seatbelt enforcement, aimed to increase seatbelt use awareness and compliance, have been implemented. According to the WHO, road traffic injuries are the ninth cause of human death globally. In 2020, this ranking is expected to move to third, overtaking diseases like HIV/AIDS and malaria. In China, road traffic injuries are predicted to increase by a further 92% by 2020 in the absence of urgent prevention measures. Director of the Injury Prevention and Trauma Care Division at The George Institute, Professor Mark Stevenson, said: "Seatbelts are one of the simplest ways to avoid death and injury in a road crash. It takes just a few seconds to fasten a seatbelt and these few seconds could save your life." The 24-month intervention project is due for completion in October 2006. The project will have implemented best practice in relation to strategies to increase the use of seatbelts and it is anticipated that the project will see an increase in seatbelt restraint use of at least 20%. For more information, please contact: World Health Organization (WHO) Ms Aphaluck Bhatiasevi WHO China Communications Officer Tel: +86-10-6532-5687 Mobile: +86-136-1117-4072 Email: bhatiasevia@chn.wpro.who.int Mr James Yu Project Manager, Beijing Office The George Institute for International Health Tel: +86-10-8280-2646 Mobile: +86-133-6648-3369 Email: yuxq@bjmu.edu.cn Ms Emma Eyles Public Affairs Officer The George Institute for International Health Tel: +61-2-9993-4592 Mobile: +61-410-411-983 Email: eeyles@thegeorgeinstitute.org SOURCE World Health Organization; The George Institute for International Health
2007'02.01.Thu
Zibo CATV Network Deploys the Alloptic Passive Optical Access Equipment in Shandong

February 22, 2006

LIVERMORE, Calif., Feb. 22 /Xinhua-PRNewswire/ -- Alloptic, Inc., a pioneer in the development and deployment of Gigabit Ethernet Passive Optical Networks (ePONs), the ultimate communications network for today and tomorrow, announced that Zibo CATV Network has successfully deployed the Alloptic passive optical access equipment in new multi-dwelling units (MDU) in Shandong China. "Alloptic's GEPON solution brings us a very reliable multi play platform," said Mr. Liu Guang Pin, GM of Zibo CATV. "Alloptic's GEPON solution allowed us to bring together what were two separate networks into a single platform." Alloptic's access network gives us the best of both of these architectures with the bandwidth required to provide additional services solution of IPTV, HDTV, and other added values services platform in the future." Alloptic is an industry leader in the development and deployment of IEEE Gigabit Ethernet Passive Optical Network (GEPON) technology. Alloptic's access network solution has been deployed around the world and offers the only GEPON solution with several years of field proven, operational history. Alloptic's Passive Optical Network (PON) technology offers a gigabit of bandwidth more than a single fiber and it can support up to 32 Optical Network Units (ONUs) at a distance up to 20km. "We are very pleased that Zibo CATV Network will be using our products in their network," said George S. Chow, Managing Director - Asia Pacific for Alloptic. "Our access solution is ideal for cable operators. With the Alloptic access solution, users benefit from the efficient use of fiber and a gigabit of bandwidth means that there is plenty of bandwidth for supporting today's data services and tomorrow's IP HDTV and beyond." About Alloptic, Inc. Alloptic delivers proven and standard-based passive optical access equipment for fiber-to-the-home, business, and multi-dwelling unit that simplifies fiber-to-the-premise (FTTP) deployment. Enabling ultra fast Internet, state-of-the-art cable TV and worry-free telephone service connected at the speed of light, being cost-saving, safe and efficient. Alloptic's unique, flexible technology enables service providers to deploy true triple-play services, including voice (TDM and IP), video (RF and IP) and data. Alloptic's network access equipment serves communities, telecommunications companies and cable service providers in the U.S. and even around the world. Founded in 1999, Alloptic is privately held and based in Livermore, California. For more information, please visit http://www.alloptic.com . For more information, please contact: Cathy Cunha Alloptic, Incorporated Tel: +1-925-245-7655 Email: Cathy.Cunha@alloptic.com SOURCE Alloptic, Inc.
2007'02.01.Thu
AAR Selected by Shanghai Airlines for 767 Landing Gear MRO

February 22, 2006

SINGAPORE, Feb. 22 /Xinhua-PRNewswire/ -- AAR (NYSE: AIR) announced today at Asian Aerospace 2006 that it has been selected to perform maintenance, repair and overhaul of landing gear for Shanghai Airlines' fleet of 767-300 aircraft. The maintenance will be performed at AAR Landing Gear Services' FAA, EASA, CAAP and ISO 9001 certified facility in Miami, Florida. AAR will provide Shanghai Airlines with maintenance, overhaul and exchange services, as well as provide access to AAR's inventory of rotable landing gear and landing gear components. AAR Landing Gear Services is a self-contained, full-service aircraft landing gear overhaul facility that provides maintenance, repair, overhaul and exchange services on virtually every type of major commercial, regional and military aircraft in use today. "This new agreement with Shanghai Airlines is a fine example of how we are extending our reach to more customers in the Asia Pacific region," said Rahul Shah, Managing Director, Asia Pacific Operations for AAR. "Customers in the Asia Pacific region and around the world are focused on controlling expenses and AAR is helping them reduce costs while maintaining the highest standards for quality, safety and airworthiness." In other news, AAR Landing Gear Services Sdn. Bhd., a joint venture between AAR International, Inc. and Malaysian aircraft maintenance provider, AIROD Sdn. Bhd., recently received certification from the Malaysian Department of Civil Aviation (DCA) and passed its Federal Aviation Administration (FAA) certification audit. Achieving these regulatory milestones enables the business to commence operations and begin serving customers in the Asia Pacific region from the new Malaysian-based landing gear MRO facility. About AAR AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at http://www.aarcorp.com . About AAR Landing Gear Services AAR Landing Gear Services, an operating unit of AAR, specializes in the maintenance, repair, overhaul and exchange of landing gear for commercial and regional aircraft. AAR's workmanship is backed by engineering and airworthiness teams that carry out stringent quality inspections on procedures that include disassembly, assembly, painting, plating, machining and nondestructive testing. About Shanghai Airlines Shanghai Airlines Co., Ltd. (SAL) is a commercial airline company based in Shanghai, the People's Republic of China. SAL operates a fleet of 38 aircraft and offers domestic flight services to over 100 destinations throughout the country and international flight services to Thailand, Vietnam, Japan, South Korea and Russia. This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 7, entitled "Factors Which May Affect Future Results", included in the Company's May 31, 2005 Form 10-K. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company's control. The Company assumes no obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR's filings with the Securities and Exchange Commission. For more information, please contact: Chris Mason Director of Corporate Communications of AAR Tel: +1-630-227-2062 Email: chris.mason@aarcorp.com SOURCE AAR
2007'02.01.Thu
Jblend(TM) Platform Deployed in BenQ-Siemens' S88

February 22, 2006

TOKYO, Feb. 22 /Xinhua-PRNewswire/ -- Aplix Corporation (TSE: 3727) announced today that its JBlend platform is included in BenQ-Siemens' S88, one of the first mobile phones introduced under the dual brand. After the purchase of Siemens' handset division in 2005, BenQ has been working with Aplix to develop a series of phone models under the new BenQ-Siemens brand. The first such phone model, the S88, uses the JBlend platform and complies with Java Technology for the Wireless Industry JTWI(TM) 1.0 (JSR-185). JBlend will also be deployed in several other phone models that are currently under development. "We have a successful history of supporting BenQ on diverse mobile phone projects," said Wesley Kuo, President and CSO of Aplix. "Our goal is to continue to utilize the industry leading features of JBlend to benefit BenQ." As the first-to-market enabler, Aplix has been trusted by global operators and handset manufacturers to fulfill their desired Java specifications. The JBlend platform has already been deployed on over 150 million mobile devices around the world. Aplix continues its innovative efforts to contribute to the development of consumer products that are even more appealing and easier to use than those we have today. About Aplix Corporation Aplix Corporation is the global leader in deploying Java technology in mobile phones. Aplix was first established in 1986 and has been a Sun Java licensee since 1996. Aplix was publicly listed on the Tokyo Stock Exchange (Mothers) in 2003. On August 24, 2004 Aplix and the Taiwan based company iaSolution finalized the integration of the corporations. Headquarters: Tokyo Regional offices: San Francisco, Munich, Taipei, Shanghai, Beijing, and Korea (in progress) For more information, please visit: http://www.aplixcorp.com and http://www.iasolution.net . About the JBlend Platform The JBlend platform is the de facto solution for running Java applications and services in consumer electronics devices, including mobile phones. The platform has been licensed by over 50 companies as of December 2005. JBlend technology: -- Sets the pace by maintaining market leadership through innovation. -- Has proven results, enabling first-to-market deliveries for our customers. -- Over 150 million mobile phones and consumer electronics devices have been shipped with JBlend as of September 2005. * JBlend and all related trademarks thereto are trademarks or registered trademarks of Aplix Corporation in Japan and other countries. * Java and all other Java-based marks are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. * All other product or service names are the property of their respective owners. For more information, please contact: Akiko Sharp Doi, Aplix Corporation Email: pr@aplixcorp.com Phone: +1-415-558-8800 Web: http://www.aplixcorp.com SOURCE Aplix Corporation
2007'02.01.Thu
Jinshan to Build Internationally Recognized Chemical City; District Hopes to Realize Five Dreams

February 22, 2006

SHANGHAI, China, Feb. 22 /Xinhua-PRNewswire/ -- Shanghai Jinshan District Government announces that during their "11th Five-year Planning" period the district hopes to realize key goals, and ultimately, double their income every three years. Jinshan has made solid progress over recent years, as it becomes more readily recognized for its advantages, namely its location, culture, land, waterways, and its progress in the chemical industry. With each of these five advantages comes an even bigger goal that Jinshan is trying to address. Li Yuyi, secretary of the Jinshan District Committee, described these as five dreams. These dreams are built around the desire to turn Jinshan into an internationally recognised part of the world, by using the experiences of cities that have already achieved such a status; Houston, Texas, is well-known for its chemical industry, while also been commended for their environmental protection programs; Miami, Florida, is known for its beautiful man-made beaches; and New Jersey for its shopping and residential projects. By taking the experiences of such cities, along with others like San Francisco, Jinshan hopes that it will be known for its beaches, shopping, residential complexes and its chemical achievements all at the same time. Then by integrating these North American features with the thousand-year history and ancient beauty of towns like Fenjing (one of the nine towns in Jinshan district), the district hopes to achieve its dreams. In 2006, construction of the International Chemical City will begin. Hao Tiechuan, Chief Executive of the Jinshan District Government, stated that Jinshan would also begin to fulfil three major goals simultaneously. First, the district plans on becoming an advanced manufacturing and modern services center, which is led by the petrochemical and extended industries, as well as, integrated machinery and equipment, e-information and new light textiles. Second, is to turn Jinshan into an eco-friendly and efficient modern agricultural base that will be geared to both the economy and entertainment. Finally, plans are to make Jinshan a modern seaside city, incorporating the unique culture of Jinshan with the protection of the eco-environment, showcasing a beautiful residential environment capable of providing high-grade recreation and entertainment. About Jinshan District Jinshan, one of the 19 districts (counties) of Shanghai, is located in the southwest of the city, north of the Hangzhou Bay and west of Zhejiang Province. It is situated at the hub of the economic region linking Shanghai, Hangzhou and Ningbo, and is inside the geographic ring of the Yangtze River Delta that is only a two hours drive away. Jinshan District has a total land area of 586 square kilometers (about 226 square miles), equivalent to that of Singapore, and a population of 550,000. It has rich natural and cultural heritages, including beautiful beach lines, famous traditional peasant paintings, black ceramic arts and crafts, and a world-renowned petrochemical base. For more information, please contact: Wang Ren of Shanghai Jinshan District Government Tel: +86-21-5792-1325 Fax: +86-21-5792-1100 Email: jsqzhk@sohu.com SOURCE General Office of the People's Government of Jinshan
2007'02.01.Thu
Freestar Technology Expands Contract With Transaction Network Services, Adding Ten European Countries

February 21, 2006

SHANGHAI, China, Feb. 21, /Xinhua-PRNewswire/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT), an international card payments processor and technology company, announced in mid-February that it has expanded its contract with Transaction Network Services (NYSE: TNS) to manage the cross border data communications of its wholly owned subsidiary Rahaxi Processing Oy to include names of countries. Providing merchants, terminal providers and banks with electronic payment processing services, Rahaxi Processing captures transactions and routes them to financial institutions, including some of the leading Finnish banks. As an extension to the original contract signed in 2004, TNS will support Rahaxi Processing's European expansion initiative, launched this month with a presence in Spain. Rahaxi Processing plans to move into ten European markets, including Portugal, Denmark and Turkey, building on its established presence in Finland and Sweden. TNS's global network will deliver high-speed debit, credit, smart card and wireless transactions from terminals to Rahaxi Processing's payment processing engine in Helsinki and leading acquirers and issuers. Now with more than 1,700 merchants across Sweden and Finland, an increase of 700 in the last year alone, Rahaxi Processing hopes to add 3,000 merchants in the program's first year. Paul Egan, chief executive officer of FreeStar Technology Corp., said, "The contract satisfies the company's long-term objective in these new markets and supports Rahaxi Processing's investment in technology to provide fast and secure data transfers for its customers in the increasingly competitive retail market." Angel Pacheco, chief technology officer, FreeStar Technology, said, "TNS's worldwide presence and flexibility is paramount during this exciting transition. Outsourcing to TNS saves us time and money, removing the need to construct and maintain our own system, and allowing us to concentrate on developing relationships in these new markets." The contract is Rahaxi Processing's largest single project. After replacing a dedicated leased line solution over a year ago, TNS will continue to handle transactions via GPRS, internet protocol based and dial up terminals for the company with 24 hour customer service 365 days a year. Anders Wannberg, managing director for TNS Nordics, said: "The expansion of our contract with Rahaxi Processing highlights its confidence in TNS and our ability to provide a framework for its expansion into ten additional European countries." "Moving to TNS has speeded up Rahaxi Processing's end-to-end electronic payment processing services for its customers," he added. "The result is a stronger acquiring environment and better service for customers. We are looking forward to supporting Rahaxi Processing in achieving its expansion plans further into Europe." About FreeStar Technology Corp. FreeStar Technology Corp. is a payment processing company. Its wholly owned subsidiary Rahaxi Processing Oy., based in Helsinki, has a robust Northern European BASE24 credit card processing platform. Rahaxi currently processes in excess of 1.3 million card payments per month for such companies as Finnair, Ikea and Stockman. The company, based in Dublin, Ireland, maintains satellite offices in Santo Domingo, Dominican Republic, Helsinki and Geneva. For more information, please visit http://www.freestartech.com About Transaction Network Services Transaction Network Services is one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications. TNS provides rapid, reliable and secure transaction delivery platforms to enable transaction authorisation and processing across several vertical markets and trading communities. FORWARD-LOOKING STATEMENTS: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding our adequacy of cash, expectations regarding net losses and cash flow, statements regarding our growth, our need for future financing, our dependence on personnel, and our operating expenses. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above as well as risks set forth above under "Factors That May Affect Our Results." These forward-looking statements speak only as of the date hereof. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U.S. Securities and Exchange Commission (available at http://www.sec.gov ). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise. For more information, please contact: Paul Egan FreeStar Technology Corporation Tel: +1-809-368-2001 Bryan Earl Kerola Tel: +358-0-9-4789-0430 Arun Chakraborty Stern & Co. Tel: +1-212-888-0044 SOURCE FreeStar Technology Corp.
2007'02.01.Thu
Embraer Announces Two More Legacy 600 Sales in Asia

February 21, 2006

New Operators Based in Indonesia
SAO JOSE DOS CAMPOS, Brazil, Feb. 21 /Xinhua-PRNewswire/ -- Embraer (NYSE: ERJ) today disclosed two new Legacy 600 business aircraft sales to Asia, expanding to eight the Legacy 600 fleet in the region. The two new jets will be delivered in 2006. One will be operated by Jakarta-based PT Ekspres Transportasi Antarbenua (Premiair) and the other by an undisclosed company in the region. Asia is seeing a strong resurgence in business aircraft demand, and this is due to the recovery of the "Tiger Economies" after the downturn of the 1990s. Individuals and corporations are increasingly reliant on high-quality charter aircraft to gain access to developing markets throughout the Indonesian archipelago and the greater Asian region. Premiair maintains a fleet of aircraft suited and configured for the diverse requirements of the Asian market. The acquisition of the Legacy 600 will provide its customers new levels of performance and comfort, and enough range to reach out to destinations in China, the Middle East and Australia. "With our Southeast Asian customers expanding their business into the Middle East and China, the Legacy 600 gives Premiair the cabin and the range to support these longer missions, while still maintaining a price point acceptable to a nascent corporate aircraft market," said Fritz E. Simandjuntak, Managing Director of PT Ekspres Transportasi Antarbenua (Premiair). The sale of two Legacy 600s to Indonesia continues the expansion of the fleet in Asia. Currently, five of these jets are making the transport of Indian government authorities and one is being operated by a tourism sector entrepreneur with headquarters in Macao. For more information, please visit http://www.embraerexecutivejets.com . The Legacy 600 The Legacy 600 provides premium comfort and privacy for up to 16 passengers in three distinct seating areas. Interior standard features include first-class leather seats, a plush divan, an elegant credenza and spacious tables for dining or meetings. The aircraft also has a full-size galley for hot and cold meals, a full-breadth aft lavatory, wardrobe and storage cabinet, and an entertainment system with DVD players and satellite telecommunications. High Speed Data (HSD) and Wireless Fidelity (Wi-Fi), optional capabilities, allow customers to browse the Internet, access e-mail and transfer files at all moments of the flight. The baggage compartment with 240 cu ft (6.8 cu m) is one of the largest in the industry and is easily accessible during flights for greater passenger convenience. Priced at US$ 23.6 million (January 2006 economic conditions), the Legacy 600 cruises at a speed of up to Mach 0.80 and offers a range of 3,250 nm (6,019 km) with eight passengers and NBAA IFR reserves. This range, bolstered by superior passenger and luggage capacity, enables our customers to fly nonstop from London to Dubai, Jakarta to Melbourne, Singapore to Beijing or to Port Moresby at lower operating costs than competitive aircraft with similar cabin size. Also available in Shuttle and Shuttle HC configurations, the Legacy is designed to provide comfort and functionality. The Legacy Shuttle accommodates between 16 and 19 passengers in business-class comfort. The Shuttle HC version enhances owner productivity and comfortably seats as many as 37 passengers in a superior airline-quality interior. Prices for the Shuttle versions range from US$ 17.80 million to US$ 18.52 million (January 2006 economic conditions). For the very specific purpose of government authority transportation, the Legacy offers affordability, size, speed, economy and the safety of a platform that has flown over 30 million passengers in the world. Embraer Image Gallery Visit the Embraer Image Gallery at http://www.embraer.com . About Embraer Embraer (Empresa Brasileira de Aeronautica S.A.) (NYSE: ERJ) (Bovespa: EMBR3 EMBR4) is the world's leading manufacturer of commercial jets up to 110 seats with 36 years of experience in designing, developing, manufacturing, selling and providing after-sales support to aircraft for the global airline, defense and business jet markets. With headquarters in Sao Jose dos Campos, state of Sao Paulo, the Company has offices and customer service bases in the United States, France, Portugal, China and Singapore. Embraer is among Brazil's leading exporting companies. As of December 31, 2005, Embraer had a total workforce of 16,953 people, and its firm order backlog totaled US$ 10.4 billion. This document may contain projections, statements and estimates regarding circumstances or events yet to take place. Those projections and estimates are based largely on current expectations, forecasts on future events and financial tendencies that affect the Company's businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among others: general economic, political and trade conditions in Brazil and in those markets where the Company does business; expectations on industry trends; the Company's investment plans; its capacity to develop and deliver products on the dates previously agreed upon, and existing and future governmental regulations. The words "believe," "may," "is able," "will be able," "intend," "continue," "anticipate," "expect" and other similar terms are supposed to identify potentialities. The Company does not feel compelled to publish updates nor to revise any estimates due to new information, future events or any other facts. In view of the inherent isks and uncertainties, such estimates, events and circumstances may not take place. The actual results can, therefore, differ substantially from those previously published as Company expectations. For more information, please contact: Brazil Rosana Dias, Embraer Tel: +011-55-12-3927-1311 Cell: +011-55-12-9724-4929 Fax: +011-55-12-3927-2411 Email: rosana.dias@embraer.com.br North America Betsy Talton, Embraer Tel: +1-954-359-3432 Cell: +1-954-609-8560 Fax: +1-954-359-4755 Email: btalton@embraer.com Europe, Middle East and Africa Stephane Guilbaud, Embraer Tel: +011-33-1-4938-4455 Cell: +011-33-6-7522-8519 Fax: +011-33-1-4938-4456 Email: sguilbaud@embraer.fr Catherine Fracchia, Embraer Tel: +011-33-1-4938-4530 Cell: +011-33-6-7523-6903 Fax: +011-33-1-4938-4456 Email: cfracchia@embraer.fr SOURCE Empresa Brasileira de Aeronautica S.A.
2007'02.01.Thu
Embraer Shares Market Outlook at Asian Aerospace

February 21, 2006

Senior Vice-President for Executive Aviation Sees a Flourishing Market in Asia
SAO JOSE DOS CAMPOS, Brazil, Feb. 21 /Xinhua-PRNewswire/ -- Embraer (NYSE: ERJ) announced today that Luis Carlos Affonso, the Company's Senior Vice-President for Executive Aviation, will present its market outlook for Asia during a press conference at the Asian Aerospace 2006, being held Feb. 21-26 at the Changi Exhibition Centre, in Singapore. "We see great potential for the business jet market in China, Asia Pacific and the Indian subcontinent in light of the relatively small fleet in the region compared to its GDP," said Affonso. "We expect the region to account for deliveries of 250 business jets over the next decade at an average growth rate of 9.1 percent per year, totaling US$ 3.8 billion by 2015." Affonso attributes the Company's positive outlook for this market to factors such as export-driven economies, Japan's recovery, China's exports and investment-led economy, as well as India's service and manufacturing sectors' boom. "Over the last 18 months, we delivered six Legacy 600 to the region, which will be joined by two more this year, representing 10 percent of our global fleet," said Affonso. In order to meet increasing market demand, Embraer has established sales offices in Beijing and Singapore. In China, Guan Dongyuan is the Director of Executive Jets Sales. Appointed Managing Director for China in 2000, Dongyuan as in charge of establishing the Embraer Beijing Representative Office, leading all the activities related to civil aviation, including strategic planning, product promotion, customer and government relation management, as well as customer service. "We believe the operating environment is improving and enabling the expansion of business aviation in China. Embraer is strongly committed to providing the best service to the Chinese customer through its established support facilities and its expanding portfolio of executive jets," said Dongyuan. Based out of our Singapore office, Capt. Manfred Baudzus is the Regional Sales Director, covering India and Asia Pacific. With 35 years and over 11,000 hours of flying experience, mostly in corporate jets, Capt. Baudzus is very familiar with Asian culture and was instrumental in bringing the first larger cabin business jets to Asia as far back as 1992. "From my operational experience in this region, I believe the Legacy 600 is very well suited for the typical Asian mission profile. Furthermore, the generous cabin is just what Asian companies are looking for. I am very excited to be involved in this program and see a great future for the Embraer Legacy 600 and the new Phenom family of jets in our region," said Capt. Baudzus. For more information, please visit http://www.embraerexecutivejets.com . This document may contain projections, statements and estimates regarding circumstances or events yet to take place. Those projections and estimates are based largely on current expectations, forecasts on future events and financial tendencies that affect the Company's businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among others: general economic, political and trade conditions in Brazil and in those markets where the Company does business; expectations on industry trends; the Company's investment plans; its capacity to develop and deliver products on the dates previously agreed upon, and existing and future governmental regulations. The words "believe," "may," "is able," "will be able," "intend," "continue," "anticipate," "expect" and other similar terms are supposed to identify potentialities. The Company does not feel compelled to publish updates nor to revise any estimates due to new information, future events or any other facts. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not take place. The actual results can, therefore, differ substantially from those previously published as Company expectations. For more information, please contact: In Brazil Rosana Dias of Embraer Tel: +011-55-12-3927-1311 Mobile: +011-55-12-9724-4929 Fax: +011-55-12-3927-2411 Email: rosana.dias@embraer.com.br North America Betsy Talton of Embraer Tel: +1-954-359-3432 Mobile: +1-954-609-8560 Fax: +1-954-359-4755 Email: btalton@embraer.com Europe, Middle East and Africa Stephane Guilbaud of Embraer Tel: +011-33-1-4938-4455 Mobile: +011-33-6-7522-8519 Fax: +011-33-1-4938-4456 Email: sguilbaud@embraer.fr Catherine Fracchia of Embraer Tel: +011-33-1-4938-4530 Mobile: +011-33-6-7523-6903 Fax: +011-33-1-4938-4456 Email: cfracchia@embraer.fr SOURCE Empresa Brasileira de Aeronautica S.A.
2007'02.01.Thu
Embraer Discloses Detailed 20-Year Airline Market Forecast at Asian Aerospace 2006 in Singapore

February 21, 2006

For Three Consecutive Years, Embraer Has Offered Global and Regional Information Related to Commercial Air Transport and Delivery Projections by Geographical Region and Aircraft Capacity
SAO JOSE DOS CAMPOS, Brazil, Feb. 21 /Xinhua-PRNewswire/ -- Embraer (NYSE: ERJ) will distribute a detailed version of its 2006-2025 Market Outlook at a press conference to be held on the opening day of Asian Aerospace 2006. The show is in Singapore, in the Asia Pacific region, which, together with China, will represent one-third of world air traffic demand by 2025. The 20-year forecast, focused on the increasingly important segment of commercial jet aircraft from 30 to 120 seats, details the new aircraft deliveries required to sustain projected air travel demand growth and to replace ageing fleets. It addresses the capacity shift between business models as a result of regional airlines' natural growth, right-sizing requirements from network airlines and low-cost carriers' expansion to mid-sized markets. According to the forecast, increased air travel demand will be supported by a positive economic scenario, continued globalization and liberalization of world economies associated with continuous reductions in average ticket prices. The world economy, as measured by Gross Domestic Product, will grow on average 3 percent per year in the 2006-2025 period, and air travel demand will grow faster, averaging 5.1 percent. Asia Pacific's passenger demand, supported by liberalization, and China's, by strong economic growth, will grow above world rates, averaging 6-7 percent per year. Embraer foresees global demand for 7,950 jets in the 30 to 120-seat capacity segment over the next 20 years. This market is valued at approximately US$ 180 billion. Asia Pacific and China will represent 13 percent of projected world deliveries in this segment, accounting for 1,000 aircraft. Market Segment (Seats) 2006-2025 -- Projected Aircraft Deliveries Asia Pacific China Total 30-60 40 180 220 61-90 185 210 395 91-120 185 200 385 Total 410 590 1,000 The Embraer Market Outlook 2006-2025 report is available online at http://www.embraer.com/outlook . Embraer Image Gallery Visit the Embraer Image Gallery at http://www.embraer.com . About Embraer Embraer (Empresa Brasileira de Aeronautica S.A.) (NYSE: ERJ) (Bovespa: EMBR3 EMBR4) is the world's leading manufacturer of commercial jets up to 110 seats with 36 years of experience in designing, developing, manufacturing, selling and providing after-sales support to aircraft for the global airline, defense and business jet markets. With headquarters in Sao Jose dos Campos, state of Sao Paulo, the Company has offices and customer service bases in the United States, France, Portugal, China and Singapore. Embraer is among Brazil's leading exporting companies. As of December 31, 2005, Embraer had a total workforce of 16,953 people, and its firm order backlog totaled US$ 10.4 billion. This document may contain projections, statements and estimates regarding circumstances or events yet to take place. Those projections and estimates are based largely on current expectations, forecasts on future events and financial tendencies that affect the Company's businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among others: general economic, political and trade conditions in Brazil and in those markets where the Company does business; expectations on industry trends; the Company's investment plans; its capacity to develop and deliver products on the dates previously agreed upon, and existing and future governmental regulations. The words "believe," "may," "is able," "will be able," "intend," "continue," "anticipate," "expect" and other similar terms are supposed to identify potentialities. The Company does not feel compelled to publish updates nor to revise any estimates due to new information, future events or any other facts. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not take place. The actual results can, therefore, differ substantially from those previously published as Company expectations. For more information, please contact: In Brazil Rosana Dias of Embraer Tel: +011-55-12-3927-1311 Mobile: +011-55-12-9724-4929 Fax: +011-55-12-3927-2411 Email: rosana.dias@embraer.com.br North America Betsy Talton of Embraer Tel: +1-954-359-3432 Mobile: +1-954-609-8560 Fax: +1-954-359-4755 Email: btalton@embraer.com Europe, Middle East and Africa Stephane Guilbaud of Embraer Tel: +011-33-1-4938-4455 Mobile: +011-33-6-7522-8519 Fax: +011-33-1-4938-4456 Email: sguilbaud@embraer.fr Catherine Fracchia of Embraer Tel: +011-33-1-4938-4530 Mobile: +011-33-6-7523-6903 Fax: +011-33-1-4938-4456 Email: cfracchia@embraer.fr SOURCE Empresa Brasileira de Aeronautica S.A.
2007'02.01.Thu
Reeltime Infotainment Ltd Selects SecureMedia's DRM Solution to Protect Hollywood VOD

February 21, 2006

Australia's First National IPTV Operator to Securely Offer Premier Movies From Sony Pictures, Fox, MGM, UA, Columbia and Other Major Studios
NATICK, Mass., Feb. 21 /Xinhua-PRNewswire/ -- SecureMedia ( http://www.securemedia.com ), the technology leader in conditional access and digital rights management (CA/DRM) software solutions for secure video content delivery over IP networks, announced today that Reeltime Infotainment Ltd has licensed SecureMedia's Encryptonite System(R) to protect its new IPTV VOD service in Australia. Based on the use of the Encryptonite System, Reeltime has secured distribution agreements for movies from Twentieth Century Fox, Sony Pictures Entertainment, MGM, United Artists, Columbia Pictures and other studios. Reeltime will launch its VOD service to the public shortly, on Internet Protocol TV (IPTV) set-top boxes and download to PCs, via its various ISP partners. The service is operated by Reeltime as a "white label" on behalf of ISPs, who market and bundle the service in conjunction with their traditional voice and data packages. Reeltime's VOD transmission rights include the use of MPEG-4/H.264 over HFC (Cable), DSL, fiber optic and twisted pair. SecureMedia's Encryptonite System provides proven persistent cryptographic protection of broadcast television and video-on-demand (VOD) content in distribution over broadband Internet Protocol (IP) networks. The Encryptonite System also provides persistent protection of content in nPVR and PVR storage. This scalable system operates on a variety of hardware and operating system platforms and features an ultra-light and processor-efficient client for low cost integration in resource-constrained set-top boxes and other embedded devices. The Encryptonite System is also "quad-play ready" as it supports secure content distribution over wireless networks to portable devices and mobile handsets. "Reeltime aims to offer the premier VOD service in Australia featuring the latest Hollywood blockbusters and classic films which required us to implement a DRM system approved by the major studios," said John Karantzis, Managing Director of Reeltime Infotainment. "We evaluated every DRM system on the market and found the Encryptonite System to offer the best combination of robust security, operational flexibility, and efficient, low cost operation." "SecureMedia is proud to be selected as the digital content security partner for Reeltime, and we look forward to protecting the extensive video library they have licensed," said Fred Ellis, CEO of SecureMedia. "Australia is one of the fastest growing broadband markets in the world, and we anticipate Reeltime's VOD service will become wildly popular in short order." About Reeltime Infotainment Ltd Further information on Reeltime can be found at http://www.asx.com.au under stock code: FLO. Sydney-based Reeltime is Australia's first national IPTV operator, with agreements secured with major Hollywood and niche studios for distribution of commercial content over secure DSL broadband networks. Reeltime is a wholesale operator of content on behalf of third party ISPs, Telcos and retail partners. Reeltime has secured access agreements with Telstra Corporation Ltd for its national network, including the consumer DSL network, and will offer its services to the public via a digital IP based TV Set Top Box, as well as offering alternative PC download and stream services. About SecureMedia, Inc. SecureMedia, http://www.securemedia.com , is a leading provider of open platform conditional access and digital rights management (CA/DRM) software for the delivery of video-on-demand, IPTV and other digital content over broadband IP networks. The Company provides a range of content security solutions from the comprehensive Encryptonite System(R) to software toolkits, hardware cores and plugins for third party media delivery systems. SecureMedia's customers represent industry leaders and include Cavalier Telephone, TV Sierre, Sony, NTT, BB Cable Corp., China Data Broadcasting, Eona and RealNetworks. SecureMedia has offices in Boston, San Francisco and Auckland, New Zealand with representatives in Beijing, Seoul and Tokyo. SecureMedia is a registered trademark and Encryptonite is a trademark of SecureMedia, Inc. All other company and product names are trademarks or registered trademarks of their respective owners. For more information, please contact: Michael Krems Krems Public Relations Tel: +1-650-759-7133 Email: krems@kremspr.com SOURCE SecureMedia
2007'02.01.Thu
AAR Landing Gear Services Sdn. Bhd. Completes Certification Milestones

February 21, 2006

SINGAPORE, Feb. 21 /Xinhua-PRNewswire/ -- AAR (NYSE: AIR) announced today at Asian Aerospace 2006 that AAR Landing Gear Services Sdn. Bhd., a joint venture between AAR International, Inc. and Malaysian aircraft maintenance provider, AIROD Sdn. Bhd., received certification from the Malaysian Department of Civil Aviation (DCA) and passed its Federal Aviation Administration (FAA) certification audit. Achieving these regulatory milestones enables the business to commence operations and begin serving customers in the Asia Pacific region from the new landing gear MRO facility based in Malaysia. "Earning the DCA certification and passing the FAA certification audit are important regulatory milestones that serve as a testament to the hard work and collaboration of the AAR and AIROD team," said Mickey Cohen, Vice President of Operations and Engineering for AAR. "These milestones underscore AAR's commitment to regulatory compliance, operational excellence and airworthiness for our customers in the Asia Pacific region." It is at Kuala Lumpur's Subang Airport that the new landing gear joint venture will maintain and overhaul commercial landing gear assemblies. AAR currently operates 13 certified repair stations around the world, including a landing gear facility based in Miami, Florida, U.S. that performs maintenance, repairs, overhauls and exchanges for Boeing, Airbus and a variety of other commercial and regional aircraft. AAR maintains an excellent 54-year safety record and views these accomplishments as important parts of the Company's overall managed quality system. With these regulatory milestones complete, AAR Landing Gear Services Sdn. Bhd. is now focusing on obtaining its European Aviation Safety Agency (EASA) certification and attracting new aviation customers in the fast-growing Asian marketplace. About AAR AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at http://www.aarcorp.com . About AIROD AIROD Sdn. Bhd., a wholly-owned subsidiary of National Aerospace & Defense Industries (NADI), performs aircraft maintenance and overhauls for military and commercial aviation fleet operators. Airod also operates a landing gear repair facility in Malaysia that services the Royal Malaysian Air Force. This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 7, entitled "Factors Which May Affect Future Results", included in the Company's May 31, 2005 Form 10-K. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company's control. The Company assumes no obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR's filings with the Securities and Exchange Commission. For more information, please contact: Chris Mason Director of Corporate Communications, of AAR Tel: +1-630-227-2062 Email: chris.mason@aarcorp.com SOURCE AAR
2007'02.01.Thu
CNH Provides Additional Outlook

February 21, 2006

LAKE FOREST, Ill., Feb. 21 /Xinhua-PRNewswire/ -- CNH Global N.V. (NYSE: CNH) today reaffirmed the outlook for 2006 provided in its press release dated January 25, 2006, and stated that it is comfortable with the average of the analysts' estimates on First Call of approximately $1.20 for its 2006 full-year diluted earnings per share before restructuring. CNH Case New Holland is a world leader in the agricultural and construction equipment businesses. Supported by 11,400 dealers in 160 countries, CNH brings together the knowledge and heritage of its Case and New Holland brand families with the strength and resources of its worldwide commercial, industrial, product support and finance organizations. More information about CNH and its Case and New Holland products can be found online at http://www.cnh.com . Forward-looking statements. This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release, including statements regarding our competitive strengths, business strategy, future financial position, budgets, projected costs and plans and objectives of management, are forward-looking statements. These statements may include terminology such as "may," "will," "expect,", "could", "should," "intend," "estimate," "anticipate," "believe," "outlook," "continue," "remain," "on track," "comfortable with," "design," "target," "objective," "goal," or similar terminology. Our outlook is predominantly based on our interpretation of what we consider key economic assumptions and involves risks and uncertainties that could cause actual results to differ. Crop production and commodity prices are strongly affected by weather and can fluctuate significantly. Housing starts and other construction activity are sensitive to interest rates and government spending. Some of the other significant factors for us include general economic and capital market conditions, the cyclical nature of our business, customer buying patterns and preferences, foreign currency exchange rate movements, our hedging practices, our and our customers' access to credit, actions by rating agencies concerning the ratings on our debt and asset backed securities and the ratings of Fiat S.p.A., risks related to our relationship with Fiat S.p.A., political uncertainty and civil unrest or war in various areas of the world, pricing, product initiatives and other actions taken by competitors, disruptions in production capacity, excess inventory levels, the effect of changes in laws and regulations (including government subsidies and international trade regulations), technological difficulties, results of our research and development activities, changes in environmental laws, employee and labor relations, pension and health care costs, relations with and the strength of our dealers, the cost and availability of supplies from our suppliers, raw material costs and availability, energy prices, real estate values, animal diseases, crop pests, harvest yields, government farm programs and consumer confidence, housing starts and construction activity, concerns related to modified organisms and fertilizer costs. Additionally, our achievement of the anticipated benefits of our profit improvement initiatives depends upon, among other things, industry volumes as well as our ability to effectively rationalize our operations and to execute our dual brand strategy. Further information concerning factors that could significantly affect expected results is included in our Form 20-F for the year ended December 31, 2004. We can give no assurance that the expectations reflected in our forward-looking statements will prove to be correct. Our actual results could differ materially from those anticipated in these forward-looking statements. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by the factors we disclose that could cause our actual results to differ materially from our expectations. We undertake no obligation to update or revise publicly any forward-looking statements. For more information, please contact: Thomas Witom News and Information Tel: +1-847-955-3939 Albert Trefts, Jr. Investor Relations Tel: +1-847-955-3821 SOURCE CNH Global N.V.
2007'02.01.Thu
Avian Influenza: Significance of Mutations in the H5N1 Virus

February 21, 2006

GENEVA, Feb. 21 /Xinhua-PRNewswire/ -- Several recent media reports have included speculations about the significance of mutations in H5N1 avian influenza viruses. Some reports have suggested that the likelihood of another pandemic may have increased as a result of changes in the virus. (Logo: http://www.newscom.com/cgi-bin/prnh/20040610/CNTH001LOGO ) Since 1997, when the first human infections with the H5N1 avian influenza virus were documented, the virus has undergone a number of changes. These changes have affected patterns of virus transmission and spread among domestic and wild birds. They have not, however, had any discernible impact on the disease in humans, including its modes of transmission. Human infections remain a rare event. The virus does not spread easily from birds to humans or readily from person to person. Influenza viruses are inherently unstable. As these viruses lack a genetic proof-reading mechanism, small errors that occur when the virus copies itself go undetected and uncorrected. Specific mutations and evolution in influenza viruses cannot be predicted, making it difficult if not impossible to know if or when a virus such as H5N1 might acquire the properties needed to spread easily and sustainably among humans. This difficulty is increased by the present lack of understanding concerning which specific mutations would lead to increased transmissibility of the virus among humans. Animal viruses Virtually all the known subtypes of influenza A viruses circulate in some wild birds, most notably wild waterfowl. In these birds, different viruses constantly mingle with each other and frequently exchange genetic material, resulting in a huge pool of constantly changing viruses. Mutations and reassortment events are commonly observed in the affected bird populations. In animals, some recent evolutionary changes in the H5N1 virus appear to have made control efforts more difficult and further international spread of the virus in birds more likely. Such changes are fully understandable, particularly in view of the exceptionally large number of birds that have been infected with the H5N1 virus and the frequent interactions between infected free-ranging poultry and wild waterfowl. Studies have shown that H5N1 viruses from the current outbreaks, when compared with viruses from 1997 and 2003, have become progressively more lethal in experimentally infected chickens and mice, and are also hardier, surviving several days longer in the environment. Other studies have shown that the virus is not yet fully adapted to poultry and is continuing to evolve. Domestic ducks have acquired an ability to resist the disease caused by some strains, and are now capable of excreting large quantities of highly pathogenic virus without showing the warning signs of illness. In endemic countries, this altered role of domestic ducks is now thought to contribute to perpetuation of the transmission cycle. Research conducted in South-east Asia has recently shown that multiple distinct lineages of H5N1 virus have become established in poultry in different geographical regions, indicating the long-term endemicity of the virus in parts of Asia. That research also detected highly pathogenic H5N1 virus in apparently healthy migratory birds. In birds, one important recent finding has been the remarkable similarity of viruses from recent outbreaks to those isolated from migratory birds that began dying at the Qinghai Lake nature reserve in central China in late April 2005. Evidence is mounting that this event, which resulted in the deaths of more than 6,000 wild birds, signalled an important change in the way the virus interacts with its natural reservoir host. Unlike the case with mutations of human viruses (some of which have been transient), it appears that some changes have become fixed in viruses circulating in at least some species of wild birds. Prior to the Qinghai Lake event, the highly pathogenic H5N1 virus was known to cause occasional sporadic deaths in migratory waterfowl, but not to kill them in large numbers or be carried by them over long distances. Viruses from Qinghai Lake showed a distinctive mutation at one site experimentally associated with greater lethality in birds and mice. Viruses from the most recent outbreaks, in Nigeria, Iraq, and Turkey, as well as from earlier outbreaks in Russia, Kazakhstan, and Mongolia, are virtually identical to Qinghai Lake viruses. It is considered unusual for an avian influenza virus causing outbreaks in birds to remain this genetically stable over so many months. This finding raises the possibility that the virus -- in its highly pathogenic form -- has now adapted to at least some species of migratory waterfowl and is co-existing with these birds in evolutionary equilibrium, causing no apparent harm, and travelling with these birds along their migratory routes. If further research verifies this hypothesis, re-introduction of the virus or spread to new geographical areas can be anticipated when migratory birds begin returning to their breeding areas. The recent appearance of the virus in birds in a rapidly growing number of countries is of public health concern, as it expands opportunities for human exposures and infections to occur. These opportunities increase when the virus spreads from wild to domestic birds, especially when these birds are kept as backyard flocks in close proximity to humans. To date, no human cases have been linked to exposure to wild birds. Close contact with infected poultry and other domestic birds remains the most important source of human infections. Human viruses Some mutations have been detected in human viruses isolated in 2005 and, most recently, in one virus isolated from a fatal case in the January 2006 outbreak in Turkey. Although these mutations were found at the receptor-binding site and involved the substitution of more mammalian-like amino acids, the effect of these changes on transmissibility of the virus, either from birds to humans or from one person to another, is not fully understood. Moreover, recent studies show that these mutations were transient and did not become fixed in the circulating viruses. Scientists do not presently know which specific mutations are needed to make the H5N1 virus easily and sustainably transmissible among humans. For example, it is not known whether the absence of a specific receptor in humans for this purely avian virus is responsible for the present lack of efficient human-to-human transmission. For this reason, virological evidence of mutational changes must be assessed together with epidemiological information about transmission patterns actually occurring in human populations. This necessity further underscores the importance of close surveillance and thorough investigation during every outbreak involving human cases. Assessments of the outbreak in Turkey, conducted by WHO investigative teams, have produced no convincing evidence that mutations have altered the epidemiology of the disease in humans, which was similar to the pattern consistently seen in affected parts of Asia. There is no evidence, at present, from any outbreak site that the virus has increased its ability to spread easily from one person to another. http://www.who.int/csr/2006_02_20/en/print.html Cumulative Number of Confirmed Human Cases of Avian Influenza A/(H5N1) Reported to WHO 20 February 2006 Country 2003 2004 2005 2006 Total cases deaths cases deaths cases deaths cases deaths cases deaths Cambodia 0 0 0 0 4 4 0 0 4 4 China 0 0 0 0 8 5 4 3 12 8 Indonesia 0 0 0 0 17 11 9 8 26 19 Iraq 0 0 0 0 0 0 1 1 1 1 Thailand 0 0 17 12 5 2 0 0 22 14 Turkey 0 0 0 0 0 0 12 4 12 4 Viet Nam 3 3 29 20 61 19 0 0 93 42 Total 3 3 46 32 95 41 26 16 170 92 Total number of cases includes number of deaths. WHO reports only laboratory-confirmed cases. http://www.who.int/csr/disease/avian_influenza/country/cases_table_2006_02_20/en/print.html For more information, please contact: Aphaluck Bhatiasevi Communications Officer World Health Organization (China) Mobile: +86-1361-117-4072 Tel: +86-10-6532-5687 Fax: +86-10-6532-2359 Email: bhatiasevia@chn.wpro.who.int SOURCE World Health Organization
2007'02.01.Thu
Arrow Asia Pac FAEs Receive Design Win Awards from Freescale

February 20, 2006

HONG KONG, Feb. 20 /Xinhua-PRNewswire/ -- Arrow Asia Pac's FAE team received a number of Design Win awards from Freescale Semiconductor, Inc. (Freescale) for its outstanding performance in demand creation at a recent Freescale Distributors' Conference. "Finding and growing business opportunities in mass markets is critical to success in today's business environment," said Andy Lim, Freescale Distribution Director for Asia Pacific. "Arrow is certainly moving in the right direction working closely with customers to address their requirements. Arrow and Freescale are winning joint business through their strong partnership." Mike Ilcesin from Arrow Australia and Bertier Tse from Arrow Hong Kong each won an LCD TV in the design contest. Nathan Choi from Arrow Korea, Victor Zhang from Arrow China, YC Chou and Waygen Hsu from Arrow Taiwan were each awarded "One Million Club" certificates from Freescale for outstanding demand creation results. "We are excited about receiving these awards. They recognize our strong technical capability and focus on demand creation. We appreciate the tremendous support from Freescale and look forward to continuing our strong and valuable relationship," said David Shen, Vice President, Technical Marketing, Arrow Asia Pac Ltd. About Freescale Semiconductor Freescale Semiconductor, Inc. (NYSE: FSL; FSL.B) is a global leader in the design and manufacture of embedded semiconductors for the automotive, consumer, industrial, networking and wireless markets. Freescale became a publicly traded company in July 2004 after more than 50 years as part of Motorola, Inc. The company is based in Austin, Texas, and has design, research and development, manufacturing or sales operations in more than 30 countries. Freescale, a member of the S&P 500(r), is one of the world's largest semiconductor companies with 2005 sales of $5.8 billion (USD). http://www.freescale.com . About Arrow Asia Pac A subsidiary of Arrow Electronics, Inc. (NYSE: ARW), Arrow Asia Pac is one of Asia Pacific's leading electronic component distributors. In addition to its regional headquarters in Hong Kong, Arrow Asia Pac operates 41 sales offices, three primary distribution centers and ten local warehousing facilities in eleven countries/territories across Asia. Providing a full range of semiconductors, passive, electromechanical and connectors products from over 60 leading international suppliers, Arrow Asia Pac serves more than 10,000 original equipment and contract manufacturers and commercial customers in Asia Pacific. Visit us at http://www.arrowasia.com . For more information, please contact: Ray Leung Marketing Communications Director Arrow Asia Pac Ltd. Tel: +852-2484-2683 Email: ray.leung@arrowasia.com Grace Kung Marketing Communications Manager Tel: +852-2484-2682 Email: grace.kung@arrowasia.com SOURCE Arrow Asia Pac Ltd.
2007'02.01.Thu
Commercial Real Estate in China -- A Hot Topic for this Year's CoreNet Global Asia Summit

February 20, 2006

Property Experts will Highlight and Explore Emerging Trends and Developments Affecting China's Commercial Real Estate Market
HONG KONG, Feb. 20 /Xinhua-PRNewswire/ -- The status of China's corporate real estate market, including emerging trends and opportunities, will come under the spotlight this year at the 4th annual CoreNet Global Asia Summit scheduled to take place at the Grand Hyatt Beijing on March 28-30, 2006. In response to continued upward real estate trends and growth opportunities in China, the CoreNet Global summit will feature a leading panel of top corporate practitioners who will share knowledge and insight on how to successfully navigate China's lucrative commercial property market. Topics on the agenda will include discussions on key issues, as well as real-time examples of commercial real estate deals and structuring considerations relevant to China. The forum will also update participants with an overview of the Chinese corporate property market, the challenges and opportunities, plus recent government initiatives and actions. A highlight of the programme will feature Ms. Lois Dougan Tretiak, Vice President and Director, China for the Economist Corporate Network and a widely regarded authority on productive business activity in a complex and ever-changing China, who will present a special keynote on "Risks and Rewards in a More Open China." The China theme will continue with the presentation of two specialist educational tracks, that entitled, "Beijing and Beyond: The Risks and Rewards of Alternative Location Strategies", and "Green Buildings in China: Creating New Standards for Sustainability", are designed to provide knowledge to help corporations make more informed real estate decisions. Commenting on this year's Summit Mr. Meng-chew Ching, Chair of the China Chapter for CoreNet Global stated that he welcomed the staging of the event in Beijing, particularly at a time when good quality buildings in the eastern part of Beijing were continuing to draw the attention of foreign and renowned domestic companies. In a recent report published by Colliers International, in terms of the en-bloc sales market, 2005 was a strong year for Beijing. Overseas property funds and investors acquired office buildings for long-term investment, whilst domestic corporations purchased buildings for own occupation. Due to this active sales market and strong leasing market, the Collier's report comments that total net absorption in 2005 reached 540,000 square metres. The average asking rental in Beijing for Q4, 2005 was US$ 28.37 per square metre per month (inclusive of property management fees) 6% higher than the same period in the previous year. This was in part attributed to the appreciation of the Renminbi. According to Mr. Ching, the portfolio of seasoned industry experts who will speak at this year's CoreNet Global Asia Summit will include: Ms. Marilyn H. Tam M.S, Chief Executive, Change-Agent and Author; Mr. Paul Hoffert, Technology Visionary; and Ms. Katherine Tsang, China CEO, Standard Chartered. In terms of sponsorship, Mr. Ching also noted that CB Richard Ellis, Colliers International, Ascendas, Divyasree Developers, DTZ Debenham Tie Leung, Haworth, Hewlett Packard, Hongkong Land, HOK, Jones Lang LaSalle, K. Raheja Corp, Motorola, Nokia, ReGenesis Project, RMZ Corp, Johnson Controls, ISG Asia, Steelcase, Sienna Commercial Quingdao, SOS, Taipei 101 and NAI Global had all committed their support. The CoreNet Global Asia Summit will be held at the Grand Hyatt Beijing on March 28-30, 2006. Interested parties can register for the summit by contacting Ms. Eleanor Estacio on (1) 404 589 3217 / eestacio@corenetglobal.org , or Ms. Jennifer Gao on (8621) 6122 1251 / jgao@corenetglobal.org . Alternatively, please visit http://www.corenetglobal.org for details. Notes Arrangements for the appearance of Ms. Marilyn Tam are made through BigSpeak Inc., Santa Barbara CA, http://www.BigSpeak.com . About CoreNet Global CoreNet Global is the world's premier association for corporate real estate and related professionals. Headquartered in Atlanta, USA, the global learning organization is the industry thought and opinion leader, plus the only professional real estate group that convenes the entire industry. Today, CoreNet Global's members manage US $1.2 trillion in worldwide corporate assets totaling 700 billion square feet of owned and leased office, industrial and other space. With 7,500 members representing large organizations around the world, CoreNet Global operates in five global regions: Asia/Japan, Australia, Europe, Latin American and North America including Canada. For more information, please visit the CoreNet Global website at http://www.corenetglobal.org . For more information, please contact: RFP Janet Middlemiss Tel: +852-2857-3832 / +852-9195-7829 Fax: +852-2840-1284 Email: jm@rfpmagazine.com CoreNet Global Jennifer Gao Tel: +86-21-6122-1251 Fax: +86-21-6122-1481 Email: jgao@corenetglobal.org SOURCE CoreNet Global
2007'02.01.Thu
Magma Presents the Latest Mobile Game Named "Explorer"

February 20, 2006

SHANGHAI, China, Feb. 20 /Xinhua-PRNewswire/ -- Magma Digital Technology Co., Ltd. announces that a new mobile game named "Explorer," which is integrated with "Super Girl" Zhang Liangying, is coming to the market this week. It is the first time for a member of China's "Super Girls" to appear in a mobile game. "Explorer" is co-published by Hurray!, the leading digital entertainment company in china, and Magma, the leading mobile games publisher. It is a typical action game, which relies on strong team cooperation. The game tells an interesting story of how the beautiful and long-suffering archaeologist named Liangying and her assistant succeed in stopping theft and crime occurring in the Qing mausoleum. They exert their capabilities and cooperate closely with each other using diversified tools to help them reach the finale. The vice president of Hurray!, Xu Xunguang, expressed that the combination of a "Super Girl" and the mobile games environment would deliver courage and positive elements to users. He also believes that the elements' combination will bring more pleasantly surprising and better gaming experiences to the customers. As a leading wireless Java games explorer and publisher, Magma has a team with impressive wireless game developing experience. They have developed about 260 kinds of original games, including `YY-Cat,' `PQ-Piggy' and other popular games. Customers can log onto the webpage http://www.monternet.com to download the Mobile game "Explorer." Brief Introduction of Hurray! Hurray! provides wireless value-added services such as ringtones, picture downloads, community and entertainment services to mobile phone users in China. They are one of the market leaders, in terms of revenue, in providing these services using wireless application protocol, commonly referred to as WAP, in China. WAP services are offered through the advanced second generation, or 2.5G, mobile networks in China. We also offer these services to mobile phone users through second-generation, or 2G, mobile networks in China. Brief Introduction of Magma Magma is a leading wireless entertainment application publisher of Java-based mobile games in China. Since its inception in 2001, Magma has not only successfully developed approximately 260 original in-house games including its signature branded series, `YY-Cat' and `PQ-Piggy' but also created many popular games of which `Han Dynasty' and `108 Heroes' are its flagship products. Magma has established close strategic partnerships world-wide with a lot of well-known companies. Beyond this, Magma is continuously striving to expand in international markets such as Asia-Pacific, Europe and North America. Magma aims to provide unlimited mobile entertainment through high-quality games for all global users! For more information, please contact: Liao Jiannian Magma Digital Technology Co., Ltd. Tel: +86-21-5228-0720 x803 Mobile: +86-130-3215-9855 Email: billshanghai@hotmail.com Website: http://www.magma-land.com SOURCE Magma Digital Technology Co., Ltd.
2007'02.01.Thu
Shanghai Jinshan District Publishes `A Collection of Baijiao's Calligraphy and Painting'

February 20, 2006

SHANGHAI, China, Feb. 20 /Xinhua-PRNewswire/ -- Shanghai Jinshan District Government announces that "A Collection of Baijiao's Calligraphy and Painting" was recently published. The book was compiled by Shanghai Jinshan District Museum, and published by the Shanghai Calligraphy and Painting Publishing House, and contained inscriptions written by Chen Bianjun, director of Shanghai Museum. Mr Baijiao is a celebrity born in Jinshan and is one of the key members of the South House. Born in Zhangyan, Jinshan in 1907, he kept on improving himself in his lifetime and made a great many achievements in the field of calligraphy and painting. He is a Shanghai styled calligrapher and painting artist of modern times. Shanghai Museum have collected more than 100 pieces of Baijiao's calligraphy and painting works in the past five years through various channels, which fully exhibits Mr Baijiao's artistic style in different creation periods. On the 100th anniversary of Baijiao's birthday, this collection is compiled to express fellow villagers' respect and commemoration of this calligraphy and painting master, and provide abundant exhibits for the "South House Memorial Hall" that is under construction. About Jinshan District Jinshan, one of the 19 districts (counties) of Shanghai, is located in the southwest of the city, north of the Hangzhou Bay and west of Zhejiang Province. It is situated at the hub of the economic region linking Shanghai, Hangzhou and Ningbo, and is inside the geographic ring of the Yangtze River Delta that is only a two hours drive away. Jinshan District has a total land area of 586 square kilometers (about 226 square miles), equivalent to that of Singapore, and a population of 550,000. It has rich natural and cultural heritages, including beautiful beach lines, famous traditional peasant paintings, black ceramic arts and crafts, and a world-renowned petrochemical base. For more information, please contact: Wang Ren of Shanghai Jinshan District Government Tel: +86-21-5792-1325 Fax: +86-21-5792-1100 Email: jsqzhk@sohu.com SOURCE General Office of the People's Government of Jinshan
2007'02.01.Thu
Columbia Business School Dean Glenn Hubbard to Speak at Executive Education Seminar on Real Estate and Securitization in Asia

February 17, 2006

Event Co-hosted by the Hong Kong General Chamber of Commerce
NEW YORK, Feb. 17 /Xinhua-PRNewswire/ -- Columbia Business School today announced it will present a special Executive Education seminar on Real Estate and Securitization in Asia on Monday, March 6, 2006, 2:30 - 7:30 PM at the JW Marriott Hotel in Hong Kong. The seminar is co-hosted by the Hong Kong General Chamber of Commerce (HKGCC). R. Glenn Hubbard, Dean of Columbia Business School and the Russell L. Carson Professor of Finance and Economics, will open the one-day presentation with an overview of the global economic outlook including a perspective on interest rates and the real estate market. "Real estate has played an integral role in shaping the U.S. and global economies, and it will continue to do so in the emerging markets throughout Asia," says Dean Hubbard. "Columbia Business School is dedicated to leading a worldwide information exchange among business leaders, linking academic thought leadership and the marketplace. This real estate seminar is another example of the global breadth of our executive education programs and commitment to sharing our expertise with the international business community." Chris Mayer, the Paul Milstein Professor of Real Estate and Director of the Milstein Center for Real Estate, Columbia Business School, will speak on REITs (Real Estate Investment Trusts) focusing on lessons learned in the U.S. REIT markets and what can be applied to Asian markets as they expand REITs and real estate debt securitization. Professor Mayer will also lead a panel discussion on real estate markets in Hong Kong, China and Singapore, looking at market trends and the outlook for REITs in Asia. Participants on the panel include: * Mr. Pua Seck Guan, CEO, CapitaMall Trust Management Ltd. * Mr. Victor So, CEO, The Link REIT * Mr. Zain Fancy, Executive Director, Morgan Stanley Real Estate, Asia Pacific "Sophisticated investment instruments such as REITs and securitized debt, commonplace around the world, are having an increasing influence on real estate practices and the marketplace," says Professor Mayer, a recognized expert in real estate. "Our panelists will provide insight into the rapidly developing Asian real estate market, including REITs, and discuss what can be learned from the growth of public real estate markets in the U.S." Dr. Eden Woon, CEO of the Hong Kong General Chamber of Commerce notes, "We are proud to join with Columbia Business School in presenting this forum to our membership and other interested individuals. With real estate an integral part of the Hong Kong and Asian economies, this seminar presents a remarkable opportunity for anyone interested in real estate in Asia." To attend the Seminar, please contact Sandy So of the HKGCC by fax: (852) 2527-9843, telephone: (852) 2823-1262 or email: sandy@chamber.org.hk . About REITs (Real Estate Investment Trusts) A REIT is a company that invests in real estate directly, either through properties or mortgaged securities. REIT shares are traded on the major exchanges and often feature high dividend payouts. Equity REITS invest in and own properties (thus responsible for the equity or value of their real estate assets). Their revenues come principally from their properties' rents. Mortgage REITs deal in investment and ownership of property mortgages. These REITs loan money for mortgages to owners of real estate, or invest in (purchase) existing mortgages or mortgage backed securities. Their revenues are generated primarily by the interest that they earn on the mortgage loans. Individuals can either invest in REITs by purchasing their shares directly or by investing in a mutual fund that specializes in public real estate. About Columbia Business School Executive Education Consistently top-ranked in executive education, Columbia Business School Executive Education offers programs that deliver a global perspective on the latest theories and trends driving business around the world. Among the executive education offerings are open enrollment programs for individuals and customized programs to meet specific corporate goals. Columbia Executive Education is located on the Columbia University campus in New York City. To cover the Seminar, for more information, or to speak with Dean Hubbard or Professor Mayer, please contact Davia Temin or Jane Trombley of Temin and Company at 212-588-8788 or news@teminandco.com . For more information, please contact: Davia Temin or Jane Trombley Temin and Company Tel: +1-212-588-8788 Email: news@teminandco.com SOURCE Columbia Business School
2007'02.01.Thu
Shanghai Jinshan "Fengjing Peasants' Paintings Village" to Open on May 1

February 17, 2006

SHANGHAI, China, Feb. 17 /Xinhua-PRNewswire/ -- Shanghai Jinshan District Government announces that after a period of construction, one of the key tourism projects of Jinshan district -- "Fengjing Peasants' Paintings Village" phase I -- has taken form. By taking into account the needs of "village tours" from various perspectives and through integrating supply, exhibitions, sightseeing and shopping, the village has been constructed. Sightseeing, having meals with the locals, and enjoying the hospitality of local families leaves a sense of enormous satisfaction on the visitors. The whole project of the "Fengjing Peasants' Paintings Village" is composed of five families and covers an area of 40 mu (about 2.7 hectares). The project is scheduled to formally open on May 1st this year. The main focal point of the "Fengjing Peasants' Paintings Village" consists of 8 buildings. As tourists enter the gatehouse they will come across the reception center, and by following the path they will then enter a quadrangle, which mimics famous architecture of the region, with black bricks, long windows and wooden doors. Covering an area of several hundred square meters, the quadrangle will be used as the exhibition hall for the peasant's paintings, showcasing the prize-winning works of the Jinshan peasants. North of the exhibition hall there are five newly built homes, including guest rooms, a cooking stove, and a small yard in the middle. The architecture will make tourists feel like that they have returned to the 1930's and are enjoying life south of the Yangtze River. About Jinshan District Jinshan, one of the 19 districts (counties) of Shanghai, is located in the southwest of the city, north of the Hangzhou Bay and west of Zhejiang Province. It is situated at the hub of the economic region linking Shanghai, Hangzhou and Ningbo, and is inside the geographic ring of the Yangtze River Delta that is only a two hours drive away. Jinshan District has a total land area of 586 square kilometers (about 226 square miles), equivalent to that of Singapore, and a population of 550,000. It has rich natural and cultural heritages, including beautiful beach lines, famous traditional peasant paintings, black ceramic arts and crafts, and a world-renowned petrochemical base. For more information, please contact: Wang Ren of Shanghai Jinshan District Government Tel: +86-21-5792-1325 Fax: +86-21-5792-1100 Email: jsqzhk@sohu.com SOURCE General Office of the People's Government of Jinshan
2007'02.01.Thu
Avnet Electronics Marketing Selects Data I/O FlashCORE(TM) Automated Programming Solutions for Worldwide Services

February 16, 2006

REDMOND, Wash., Feb. 16 /Xinhua-PRNewswire/ -- Data I/O(R) (Nasdaq: DAIO), the leading provider of manual and automated programming systems announced today that Avnet Electronics Marketing has recently installed multiple Data I/O automated systems in their Value Added Programming centers in Europe, Asia, and the Americas. The increased consumption of programmable high-density Flash memory and microcontrollers has driven the need for significantly advanced programming and socketing technology as well as higher speed automated handling systems. "This significant investment by Avnet in Data I/O's FlashCORE technology represents a fundamental change in Avnet's ability to support the latest device technologies and packages," said Bruce Rodgers, Data I/O Vice President of Sales & Marketing Americas / Asia. "The PS family that Avnet has installed also provides important flexibility in system configurations allowing Avnet to respond more efficiently to the wide mix of devices supported by their programming services." "Avnet has utilized Data I/O's automated systems for some time, but this investment in these multiple systems is due to a careful trade study from which we determined Data I/O's systems represent the best match with our current and future requirements in both programming technology and capacity. Continuing to utilize these capabilities will undoubtedly prove to be a huge advantage for our customers when servicing their needs," noted Jim Mooney, Director of Operations for Avnet Electronics Marketing. "It is also important for us to optimize Avnet's ability to support customers on a worldwide basis. Leveraging Data I/O's strong relationships with leading semiconductor companies on an international level will help us achieve that goal." The FlashCORE high-speed programming architecture provides a common platform for all systems in the PS family including the PS288FC, PS300, and PS588 high-speed automated systems. Based on a modular concept, all systems share the same user interface, programmers, consumables, algorithms and job creation and management software systems. This modularity enhances productivity and significantly reduces the cost of changeovers in a high mix environment. Modular feeder options for tray, tape and tube are also available, increasing compatibility and useability, and protecting the customer investment. About Avnet Programming Centers A large percentage of components purchased by Avnet Electronics Marketing customers require customization. Avnet performs a wide range of services within their Logistic Centers, including IC programming, connector and cable assembly, tape & reel, customized packaging, integration, and light manufacturing and assembly. Avnet Programming Centers operate in all global regions, and support programmable technologies such as PROM, EPROM, EEPROM, Flash, PLD, FPGA and microcontrollers. Avnet's programming centers provide a range of services including first article and prototype builds, volume device programming, application of customer laser or label identification, tape and reel, and lead inspection. State of the art automated pick and place systems are designed for a variety of packaging types, including DIP, PLCC, LCC QFP, TQFP, SOIC, TSOP, QFN, MLF and BGA. About Data I/O With more than 32 years of innovative leadership in the device programming industry, Data I/O Corporation(R) (Nasdaq: DAIO) provides manual and automated device programming systems that specifically address the requirements of engineering and manufacturing operations. FlashCORE(TM) is the architecture behind a family of Flash programmers that deliver the highest throughput and lowest cost per programmed device. For other than Flash devices, the MultiSyte and UniSite families provide universal support and versatility to address a wide variety of programming needs. Data I/O Corporation is headquartered in Redmond, Washington, and has sales and service offices worldwide. For more information, see http://www.dataio.com or call 800-426-1045. Forward-Looking Statements All company and product names mentioned may be trademarks or registered trademarks of their respective holders and are used for identification purposes only. The matters discussed in this news release include forward-looking statements that are subject to risks and uncertainties that may cause actual results to vary significantly. These risks include market and competitive factors, and other risks described in the Company's most recent annual report and/or in any of its other filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release. For more information, please contact: Bruce Rodgers Data I/O Corporation Tel: +1-425-867-6893 Email: rodgerb@data-io.com Dennis McFarland Goldstein Group Communications Tel: +1-216-573-2300 Email: dmcfarland@ggcomm.com Mary Kerimi Avnet Programming Services Tel: +1-530-470-8848 Email: Mary.Kerimi@avnet.com SOURCE Data I/O Corporation
2007'02.01.Thu
Tut Systems Expands Sales Channels Into China

February 16, 2006

Partners With IPTV-CETC to Develop High-Growth Chinese IPTV Market
LAKE OSWEGO, Ore., Feb. 16 /Xinhua-PRNewswire/ -- Tut Systems, Inc. (Nasdaq: TUTS), an industry leader enabling the delivery of next-generation data and video services over broadband networks, today announced that it has expanded its distribution relationships in the Chinese telecommunications market through a relationship with the CETC-IPTV. CETC-IPTV, a part of CETC (China Electronic Technology Group Corporation), has a long history of providing high-technology solutions to telecommunications and cable operators throughout mainland China and has more than 50,000 employees. CETC-IPTV will use its vast sales network and system integration capabilities throughout China to deliver IPTV solutions powered by Tut Systems Astria(R) content processor (CP). CETC-IPTV is responsible for researching, consulting, integrating, and selling solutions for the rapidly expanding Chinese IPTV market. In November 2005, Light Reading predicted that China will account for more than 25% of the world's IPTV subscribers by 2010. "In identifying a solutions partner for our IPTV business, we looked for a market leader with advanced technology and a strong history of successful, real-world deployments," said John Wu, Vice Chief Engineer of CETC-IPTV. "With an unparalleled, global IPTV customer base dating from 1999, Tut Systems is uniquely qualified, and we are pleased to be working together with them in the fast-growing IPTV market in China." "CETC-IPTV is a welcome addition to the network of distributors that we have built over the last decade in China," said Bob Noonan, Vice President of Worldwide Sales and Service for Tut Systems. "The explosion of interest in IPTV in China is a great opportunity for both Tut Systems and CETC-IPTV and we look forward to a long and successful partnership." The Industry's Leading IPTV Platform for Telcos More than 160 service providers across five continents deliver IPTV powered by Tut Systems digital headends. The Astria family of video processing platforms, which serves as the core of the company's digital headend solution, processes both analog and digital video streams from multiple satellite and local sources in a variety of formats. The Astria CP supports MPEG-2 and MPEG-4 AVC video compression, local ad insertion, forward error correction and provides real-time conditioning for distribution of video and audio over any ATM, IP, or RF broadband network. The Astria VSP provides the highest density, carrier class, single chassis product for the delivery of IP video over RF broadband access networks, including coax and FTTP (Fiber to the Premises). About Tut Systems, Inc. Tut Systems, Inc. delivers advanced content processing and distribution products as well as comprehensive system integration services for deploying next-generation data and video services over broadband networks. Service providers, content providers and government agencies worldwide use Tut Systems solutions to deliver broadcast-quality video over broadband networks. Tut Systems is headquartered in Lake Oswego, OR with regional offices across North America, Europe and Asia. For more information visit http://www.tutsys.com or call 971-217-0400. NOTE: Astria is a registered trademark of Tut Systems, Inc. For more information, please contact: Hilary Goetz of Tut Systems, Inc. Tel: +1-971-217-0441 Email: hgoetz@tutsys.com SOURCE Tut Systems, Inc.
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