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FORT WORTH, Texas, Nov. 4 /PRNewswire-FirstCall/ -- XTO Energy Inc. is providing operational and financial guidance for the remainder of 2009 based on current expectations for production, expenses and other parameters resulting from ongoing operations and development budget activities. These statements are forward looking, as described in the final paragraph of this release, and actual results may differ materially. These estimates do not include derivative fair value gains and losses, the effects of possible future acquisitions or divestitures, or unforeseen events that may occur after this release.

Production

The Company is raising its targeted annual production growth to 23% for 2009. The estimated ranges of average daily production for the fourth quarter of 2009 are:

Q4 ------------- Natural Gas (MMcf) 2,360 - 2,400 NGL (MBbl) 22 Oil (MBbl) 66 Total Gas Equivalent (MMcfe) 2,888 - 2,928 Price Realizations and Differentials

The Company's realized natural gas and oil prices are expected to average below the NYMEX prices due to regional differentials. The following are estimated pricing differentials, or percentage reductions to NYMEX prices, before consideration of any hedging activity:

Q4 Differential (Percentage of NYMEX) --------------------- Natural Gas 12 - 14% Oil 7 - 9%

Realized pricing for natural gas liquids (NGL) is expected to be about 40% to 45% of the average NYMEX oil price.

Expenses

The following table presents the Company's expected expenses per Mcfe assuming a $4.50 per Mcf NYMEX gas price and a $75.00 per Bbl NYMEX oil price:

Expense ($/Mcfe) Q4 ---------------- ----------- Production 0.94 - 0.98 Taxes, transportation and other 0.63 - 0.68 Exploration 0.05 - 0.10 Depreciation, depletion and amortization 2.95 - 3.00 Accretion of asset retirement obligation 0.02 - 0.04 General and administrative: cash 0.23 - 0.27 General and administrative: non-cash, stock-based 0.12 - 0.18 Interest 0.49 - 0.53 Hedging The Company's current NYMEX hedging positions for natural gas and oil are: PRODUCTION: Mcf or Bbls NYMEX Price Natural Gas per Day per Mcf or Bbl ----------- ----------- -------------- 2009 Oct - Dec * 1,745,000 $ 8.79 2010 Jan - Dec 1,250,000 $ 7.49 2011 Jan - Dec 250,000 $ 7.02 Oil ----------- 2009 Oct - Dec ** 62,500 $ 117.11 2010 Jan - Dec 70,000 $ 95.70 * Includes swap agreements for 1,273,000 Mcf per day which were early settled and reset at current market prices. The price shown is the price that will be used for cash flow hedge accounting purposes and has been reduced for transaction costs related to the early settlements. The weighted average cash settlement contract price for all contracts is $6.35 per Mcf. ** Includes swap agreements for 57,000 Bbls per day which were early settled and reset at current market prices. The price shown is the price that will be used for cash flow hedge accounting purposes and has been reduced for transaction costs related to the early settlements. The weighted average cash settlement contract price for all contracts is $58.64 per Bbl. Income Tax

For the year, the Company projects a 37% effective tax rate, with approximately 40% of that amount expected to be currently payable.

XTO Energy Inc. is a domestic natural gas producer engaged in the acquisition, exploitation and development of quality, long-lived oil and natural gas properties in the United States.

This release can be found at http://www.xtoenergy.com/.

Statements made in this news release, including those relating to production growth, average daily production, price realizations and differentials, commodity prices, expenses and effective income tax rates and percentage currently payable are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the timing and extent of changes in oil and gas prices, changes in underlying demand for oil and gas, the timing and results of drilling activity, the timing of production, treatment and transportation facility installations, curtailments by third-party pipelines and processing or treatment facilities, changes in interest rates and higher than expected production costs and other expenses. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in the Company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.

XTO Energy Inc.

CONTACT: Louis G. Baldwin, Executive Vice President & Chief Financial
Officer, or Gary D. Simpson, Senior Vice President, Investor Relations &
Finance, or Thomas E. Covington, Vice President, Investor Relations, all of
XTO Energy Inc., +1-817-870-2800

Web Site: http://www.xtoenergy.com/

Sanders Morris Harris Group Announces Third Quarter Earnings Teleconference

HOUSTON, Nov. 4 /PRNewswire-FirstCall/ -- Sanders Morris Harris Group Inc. today announced that it will host a conference call on Monday, November 9, 2009 at 9:00 a.m. Central Time to discuss third quarter 2009 financial and operational results. These results are expected to be released before the opening of the market on the day of the conference call and will be available on Sanders Morris Harris Group's website, http://www.smhgroup.com/, after release to the wire services.

Conference Call Details Date: Monday, November 9, 2009 Time: 9:00 a.m. (Central Time) Dial-in Number: (800) 446-1671 International Dial-In Number: (847) 413-3362 Pass Code: 25765168

It is recommended that listeners phone-in at least 10 minutes before the call is scheduled to begin to avoid delay. A replay of the conference call in its entirety will be available approximately two hours after its completion for 10 days by dialing (888) 843-8996 (U.S.), (630) 652-3044 (International) and entering the pass code 25765168#.

About Sanders Morris Harris Group

Sanders Morris Harris Group is a wealth management company that manages approximately $10.6 billion in client assets. Client assets include the gross value of assets under management directly or via outside managers and assets held in brokerage accounts for clients by outside clearing firms. Its corporate philosophy of investment in common aligns its interests with those of its clients. Sanders Morris Harris has more than 600 employees in 21 states. Additional information is available at http://www.smhgroup.com/.

Sanders Morris Harris Group Inc.

CONTACT: Rick Berry, Chief Financial Officer, +1-713-993-4614, for
Sanders Morris Harris Group Inc.

Web Site: http://www.smhgroup.com/

Susser Holdings Reports Third Quarter 2009 Results- Same-store merchandise sales up 4.0% - Merchandise margin of 33.0% - Adjusted EBITDA(1) of $33.1 million, up 4.1%

CORPUS CHRISTI, Texas, Nov. 4 /PRNewswire-FirstCall/ -- Susser Holdings Corporation today reported that same-store merchandise sales for the third quarter ended September 27, 2009, increased by 4.0 percent. Convenience store merchandise sales from all stores totaled $201.2 million in the latest quarter, up 6.3 percent from the third quarter of 2008. Retail merchandise margin was 33.0 percent, versus 34.9 percent a year ago.

Third quarter Adjusted EBITDA totaled $33.1 million, compared with $31.8 million a year ago. Companywide gross profit totaled $119.8 million, an increase of 0.5 percent from last year's third quarter. Total revenues were $882.1 million, compared with $1.2 billion in the third quarter of 2008, which largely reflects the significant decline in average retail and wholesale fuel prices versus a year ago that reduced fuel revenues by a combined $400.8 million. Lower fuel price-related revenues were partly offset by the higher merchandise sales, along with increased fuel volumes sold in both the retail and wholesale fuel segments versus a year ago.

Net income was $6.5 million, or $0.38 per diluted share, versus income of $6.9 million, or $0.40 per diluted share, for the third quarter of last year.

"We continued to see solid growth in same-store sales during the third quarter - although the rate of growth declined throughout the quarter," said Sam L. Susser, President and Chief Executive Officer. "At the same time we experienced pressure on margins in some of our product categories such as packaged drinks, cigarettes and food service, as our customers looked to us for greater value and competitors increased discounting to attract sales. Fortunately, we have been able to offset some of that pressure through aggressive pricing promotions partially funded by our supplier partners and associated market basket sales.

"While we expect some additional margin compression and challenging sales comparisons in the short term, we remain very focused on cost control, effective merchandising, providing great value for our customers and growing our market share, which will position us well for the recovery," Susser said.

New Convenience Store/Wholesale Dealer Site Update

The Company added 12 new retail units during the third quarter, bringing the total number of stores in operation to 527. Seven of the new retail stores were part of the 25-store package acquired from Jack in the Box, Inc. Four additional newly constructed stores opened during the quarter, and one location was purchased and remodeled. The Company currently has two stores under construction and expects to begin construction of two to three more large-format stores before the end of the year.

In its wholesale operations, Susser added 17 new dealer sites and discontinued eight, for a total of 381 dealer sites in operation at the end of the quarter. A net of seven new wholesale dealer sites were added in connection with the Jack in the Box transaction, as Susser previously supplied fuel to 11 of the 25 sites acquired.

Financing Update

During the latest quarter the Company entered into sale-leaseback transactions totaling $5.2 million for two newly constructed stores located in South and Central Texas. Also, the Company completed an additional sale/leaseback transaction in October for $2.7 million.

Third Quarter Financial and Operating Highlights

Convenience store same-store merchandise sales increased 4.0 percent compared with the third quarter of 2008. Total Company merchandise sales were $201.2 million, an increase of 6.3 percent from a year ago. Retail merchandise sales growth was driven in part by an increase in the federal excise tax on cigarettes that went into effect April 1, 2009, as well as by strong sales of packaged drinks and beer. Merchandise gross profit, net of shortages, totaled $66.3 million, up 0.5 percent from the third quarter of 2008. Net merchandise margin was 33.0 percent, compared with 34.9 percent a year ago. The decline in margin is due in part to the increase in the selling price of cigarettes as well as to increased sales of lower-margin value items.

Retail store fuel volumes increased 7.3 percent from a year ago to 175.3 million gallons for the third quarter. Average gallons sold per store increased 5.5 percent from a year ago to 343,800. Retail fuel revenues totaled $427.6 million, down 31.0 percent, as a result of a 35.7 percent drop in the average retail price of fuel. Retail fuel gross margins in the third quarter were 19.7 cents per gallon, or 15.8 cents after deducting credit card expense, compared with 22.3 cents per gallon a year ago, or 17.1 cents after credit card expense. Retail fuel gross profit was $34.6 million, compared with $36.4 million in the third quarter of 2008.

Wholesale fuel volumes sold to Susser's 381 dealers and other third-party customers increased 2.4 percent from a year ago to 125.2 million gallons. Wholesale fuel revenues declined 39.3 percent to $240.9 million as a result of a 40.7 percent drop in wholesale fuel prices year-over-year. Wholesale gross margin was 5.1 cents per gallon, compared with 7.3 cents per gallon a year ago. This reduced wholesale fuel gross profit by $2.5 million from a year ago to $6.4 million, down 28.1 percent.

Year to Date Results

For the first nine months of 2009, Susser reported merchandise sales of $583.0 million, up 6.8 percent from the comparable nine-month period last year. Total revenues were $2.4 billion, down 30.7 percent due to the lower fuel prices year-over-year. Gross profit was $324.7 million, up 0.3 percent from the first nine months of last year, reflecting higher fuel gallons sold and higher merchandise sales, partly offset by lower fuel margins in both the retail and wholesale segments. Adjusted EBITDA was $77.3 million, down 3.5 percent. Net income totaled $7.7 million, or $0.45 per diluted share, compared with $10.2 million, or $0.60 per diluted share for the same period last year.

2009 Guidance The Company has revised its annual guidance for 2009 as follows: 2008 New 2009 Prior 2009 YTD 2009 Full Year Guidance Guidance Results Results -------- ---------- -------- --------- Merchandise Same-Store Sales Growth(a) 3.0%-4.5% 3.0%-5.5% 4.8% 6.6% Merchandise Margin, Net of Shortages 32.5%-33.5% 33.5%-35.0% 33.5% 34.3% Retail Average Per-Store Gallons Growth(a) 2.0%-4.0% 2.0%-5.0% 5.5% 2.6% Retail Fuel Margins (cents/gallon) 13.0-16.0 12.5-16.5 15.5(b) 17.8(b) Wholesale Fuel Margins 4.0-5.0 4.0-5.5 4.2 6.4 (cents/gallon) New Retail Stores (c) 12-15 12-16 15 12 New Wholesale Dealer Sites (c) 30-37 25-35 25 27 Gross Capital Spending $65-$80 million $65-$80 million $52.4 million $69.4 million Net Capital Spending (d) $50-$65 million $50-$70 million $42.8 million $33.0 million (a) 2009 full-year guidance excludes the impact of a 53rd week occurring in the fourth quarter of 2009. (b) We report retail fuel margins before deducting credit card costs, which were approximately 3.4 cents per gallon in the first nine months of 2009 and 4.2 cents per gallon for the full 2008 fiscal year. (c) Numbers for both years do not reflect existing retail or wholesale store closures, which are typically lower volume locations than new sites. (d) Net capital spending is gross capital expenditures including acquisitions, less proceeds from sale/leaseback transactions and asset dispositions. (1) Adjusted EBITDA is a non-GAAP financial measure of performance and liquidity that has limitations and should not be considered as a substitute for net income or cash provided by (used in) operating activities. Please refer to the discussion and tables under "Reconciliations of Non-GAAP Measures" later in this news release for a discussion of our use of adjusted EBITDA and a reconciliation to net income and cash provided by operating activities for the periods presented. Third Quarter Earnings Conference Call

Susser's management team will hold a conference call today at 11 a.m. ET (10 a.m. CT) to discuss third quarter results. To participate in the call, dial 480-629-9821 at least 10 minutes early and ask for the Susser conference call. The call will also be accessible via Susser's Web site at http://www.susser.com/. To listen live, please visit the Investor Relations page of Susser's Web site at least 10 minutes early to register. A telephonic replay will be available through Nov. 11 by calling 303-590-3030 and using the pass code 4171075#. An archive will be available for 60 days on Susser's web site.

Corpus Christi, Texas-based Susser Holdings Corporation is a third-generation family led business that operates more than 525 convenience stores in Texas, New Mexico and Oklahoma under the Stripes and Town & Country banners. Restaurant service is available in more than 300 of its stores, primarily under the proprietary Laredo Taco Company and Country Cookin' brands. The Company also supplies branded motor fuel to more than 380 independent dealers through its wholesale fuel division.

Forward-Looking Statements

This news release contains "forward-looking statements" describing Susser's objectives, targets, plans, strategies, costs, anticipated capital expenditures, expansion of our food service offerings, potential acquisitions and new store openings and dealer locations. These statements are based on current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially, including but not limited to: competition from other convenience stores, gasoline stations, dollar stores, drug stores, supermarkets, hypermarkets and other wholesale fuel distributors; changes in economic conditions; volatility in energy prices; political conditions in key crude oil producing regions; wholesale cost increases of tobacco products; adverse publicity concerning food quality, food safety or other health concerns related to our restaurant facilities; consumer or other litigation; consumer behavior, travel and tourism trends; devaluation of the Mexican peso or restrictions on access of Mexican citizens to the U.S.; unfavorable weather conditions; changes in state and federal regulations; dependence on one principal supplier for merchandise, two principal suppliers for gasoline and one principal provider for transportation of substantially all of our motor fuel; financial leverage and debt covenants; changes in debt ratings; inability to identify, acquire and integrate new stores; dependence on senior management; acts of war and terrorism; and other unforeseen factors. For a full discussion of these and other risks and uncertainties, refer to the "Risk Factors" section of the Company's annual report on Form 10-K for the year ended December 28, 2008, and subsequent quarterly reports on Form 10-Q. These forward-looking statements are based on and include our estimates as of the date hereof. Subsequent events and market developments could cause our estimates to change. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if new information becomes available, except as may be required by applicable law.

Financial statements follow Susser Holdings Corporation Consolidated Statements of Operations Unaudited Three Months Ended Nine Months Ended --------------------------- --------------------------- September 28, September 27, September 28, September 27, 2008 2009 2008 2009 ------------- ------------- ------------- ------------- (dollars in thousands, except per share amounts) Revenues: Merchandise sales $189,272 $201,190 $545,913 $583,049 Motor fuel sales 1,016,644 668,477 2,872,252 1,771,805 Other income 8,253 12,433 27,170 31,130 ----- ------ ------ ------ Total revenues 1,214,169 882,100 3,445,335 2,385,984 Cost of sales: Merchandise 123,306 134,883 358,863 387,830 Motor fuel 971,354 627,476 2,761,531 1,673,331 Other 332 (20) 1,311 75 --- --- ----- -- Total cost of sales 1,094,992 762,339 3,121,705 2,061,236 --------- ------- --------- --------- Gross profit 119,177 119,761 323,630 324,748 Operating expenses: Personnel 34,536 38,008 99,348 110,260 General and administrative 9,468 8,814 26,580 25,905 Other operating 35,676 31,610 94,624 86,610 Rent 8,728 9,135 25,814 27,178 Loss (gain) on disposal of assets (196) 884 (45) 1,042 Depreciation, amortization, 9,828 11,484 30,909 31,996 and accretion ----- ------ ------ ------ Total operating expenses 98,040 99,935 277,230 282,991 ------ ------ ------- ------- Income from operations 21,137 19,826 46,400 41,757 Other income (expense): Interest expense, net (9,955) (9,444) (29,307) (28,533) Other miscellaneous 25 (46) 239 (28) -- --- --- --- Total other expense, net (9,930) (9,490) (29,068) (28,561) ------ ------ ------- ------- Income before income taxes 11,207 10,336 17,332 13,196 Income tax expense (4,331) (3,823) (7,131) (5,430) ------ ------ ------ ------ Net income 6,876 6,513 10,201 7,766 ----- ----- ------ ----- Less: Net income attributable 14 10 37 29 to noncontrolling interests -- -- -- -- Net income attributable $6,862 $6,503 $10,164 $7,737 to Susser Holdings ====== ====== ======= ====== Corporation Net income per share attributable to Susser Holdings Corporation: Basic $0.41 $0.38 $0.60 $0.46 Diluted $0.40 $0.38 $0.60 $0.45 Weighted average shares outstanding: Basic 16,880,404 16,937,013 16,880,404 16,930,903 Diluted 16,987,817 17,030,021 16,977,561 17,005,231 Susser Holdings Corporation Consolidated Balance Sheets December 28, September 27, 2008 2009 ------------ ------------- unaudited (in thousands) Assets Current assets: Cash and cash equivalents $8,284 $10,459 Accounts receivable, net of allowance for doubtful accounts of $1,070 at December 28, 2008 and $917 at September 27, 2009 51,549 52,744 Inventories, net 62,878 73,248 Other current assets 4,703 4,382 ----- ----- Total current assets 127,414 140,833 Property and equipment, net 408,733 415,564 Other assets: Goodwill 237,953 242,451 Intangible assets, net 34,609 34,012 Other noncurrent assets 15,647 15,447 ------ ------ Total other assets 288,209 291,910 ------- ------- Total assets $824,356 $848,307 ======== ======== Liabilities and shareholders' equity Current liabilities: Accounts payable $90,911 $104,338 Accrued expenses and other current liabilities 34,738 39,846 Current maturities of long-term debt 9,233 11,858 Deferred purchase price - TCFS acquisition 10,000 10,000 ------ ------ Total current liabilities 144,882 166,042 Long-term debt 395,736 387,359 Revolving line of credit 3,630 3,930 Deferred gain, long-term portion 33,720 32,569 Deferred tax liability, long-term portion 28,323 27,355 Other noncurrent liabilities 13,087 15,964 ------ ------ Total long-term liabilities 474,496 467,177 Commitments and contingencies: Shareholders' equity: Susser Holdings Corporation shareholders' equity: Common stock, $.01 par value; 125,000,000 shares authorized; 17,048,972 issued and 17,037,648 outstanding as of December 28, 2008; 17,153,267 issued and 17,141,943 outstanding as of September 27, 2009 170 170 Additional paid-in capital 180,189 182,899 Retained earnings 23,888 31,625 Accumulated other comprehensive loss - (367) --- ---- Total Susser Holdings Corporation shareholders' equity 204,247 214,327 Noncontrolling interest 731 761 --- --- Total shareholders' equity 204,978 215,088 ------- ------- Total liabilities and shareholders' equity $824,356 $848,307 ======== ======== Reconciliations of Non-GAAP Measures to GAAP Measures

We define EBITDA as net income before net interest expense, income taxes and depreciation, amortization and accretion. Adjusted EBITDA further adjusts EBITDA by excluding non-cash stock-based compensation expense and certain other operating expenses that are reflected in our net income that we do not believe are indicative of our ongoing core operations, such as significant non-recurring transaction expenses and the gain or loss on disposal of assets and impairment charges. Adjusted EBITDAR adds back rent to adjusted EBITDA. In addition, those expenses that we have excluded from our presentation of adjusted EBITDA and adjusted EBITDAR are also excluded in measuring our covenants under our revolving credit facility and the indenture governing our senior notes.

We believe that adjusted EBITDA and adjusted EBITDAR are useful to investors in evaluating our operating performance because:

-- they are used as a performance and liquidity measure under our subsidiaries' revolving credit facility and the indenture governing our senior notes, including for purposes of determining whether they have satisfied certain financial performance maintenance covenants and our ability to borrow additional indebtedness and pay dividends to us; -- securities analysts and other interested parties use them as a measure of financial performance and debt service capabilities; -- they facilitate management's ability to measure operating performance of our business because they assist us in comparing our operating performance on a consistent basis since they remove the impact of items not directly resulting from our retail convenience stores and wholesale motor fuel distribution operations; -- they are used by our management for internal planning purposes, including aspects of our consolidated operating budget, capital expenditures, as well as for segment and individual site operating targets; and -- they are used by our board of directors and management for determining certain management compensation targets and thresholds.

EBITDA, adjusted EBITDA and adjusted EBITDAR are not recognized terms under GAAP and do not purport to be an alternative to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. EBITDA, adjusted EBITDA and adjusted EBITDAR have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations include:

-- they do not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; -- they do not reflect changes in, or cash requirements for, working capital; -- they do not reflect significant interest expense, or the cash requirements necessary to service interest or principal payments on our revolving credit facility or senior notes; -- they do not reflect payments made or future requirements for income taxes; -- although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA, adjusted EBITDA and adjusted EBITDAR do not reflect cash requirements for such replacements; and -- because not all companies use identical calculations, our presentation of EBITDA, adjusted EBITDA and adjusted EBITDAR may not be comparable to similarly titled measures of other companies.

The following table presents a reconciliation of net income to EBITDA, Adjusted EBITDA and Adjusted EBITDAR:

Three Months Ended Nine Months Ended --------------------------- --------------------------- September 28, September 27, September 28, September 27, 2008 2009 2008 2009 ------------- ------------- ------------- ------------- (in thousands) Net income attributable to Susser Holdings Corporation $6,862 $6,503 $10,164 $7,737 Depreciation, amortization, and accretion 9,828 11,484 30,909 31,996 Interest expense, net 9,955 9,444 29,307 28,533 Income tax expense 4,331 3,823 7,131 5,430 ----- ----- ----- ----- EBITDA 30,976 31,254 77,511 73,696 Non-cash stock based compensation 1,058 923 2,888 2,509 Loss (gain) on disposal of assets (196) 884 (45) 1,042 Other miscellaneous (25) 46 (239) 28 --- -- ---- -- Adjusted EBITDA $31,813 $33,107 $80,115 $77,275 Rent 8,728 9,135 25,814 27,178 ----- ----- ------ ------ Adjusted EBITDAR $40,541 $42,242 $105,929 $104,453 ======= ======= ======== ========

The following table presents a reconciliation of net cash provided by operating activities to EBITDA, Adjusted EBITDA and Adjusted EBITDAR:

Nine Months Ended ------------------------------ September 28, September 27, 2008 2009 ------------- ------------- (in thousands) Net cash provided by operating activities $6,542 $50,086 Changes in operating assets & liabilities 36,883 (7,221) Gain (loss) on disposal of assets 45 (1,042) Non-cash stock based compensation expense (2,888) (2,509) Noncontrolling interest (37) (29) Deferred income tax 153 (9) Amortization of debt premium 375 457 Income taxes 7,131 5,430 Interest expense, net 29,307 28,533 ------ ------ EBITDA $77,511 $73,696 Non-cash stock based compensation 2,888 2,509 Loss (gain) on disposal of assets (45) 1,042 Other miscellaneous (239) 28 ---- -- Adjusted EBITDA $80,115 $77,275 Rent 25,814 27,178 ------ ------ Adjusted EBITDAR $105,929 $104,453 ======== ======== SUSS-IR Contacts: Susser Holdings Corporation Mary Sullivan, Chief Financial Officer (361) 693-3743, msullivan@susser.com DRG&E Ken Dennard, Managing Partner (713) 529-6600, ksdennard@drg-e.com Anne Pearson, Senior Vice President (210) 408-6321, apearson@drg-e.com

Susser Holdings Corporation

CONTACT: Mary Sullivan, Chief Financial Officer of Susser Holdings
Corporation, +1-361-693-3743, msullivan@susser.com; or Ken Dennard, Managing
Partner, +1-713-529-6600, ksdennard@drg-e.com, or Anne Pearson, Senior Vice
President, +1-210-408-6321, apearson@drg-e.com, both of DRG&E, for Susser
Holdings Corporation

Web Site: http://www.susser.com/

Whole Foods Market(R) Pops the Cork on Top Ten Holiday Wines Priced for MerrymakingWines to Please the Crowds and Warm the Soul are Paired with Season's Tasty Cheeses and Holiday Fare

AUSTIN, Texas, Nov. 4 /PRNewswire-FirstCall/ -- From taste-tempting, luscious reds and bright sparklers to elegant, spicy whites, Whole Foods Market unveils its "Top Ten Holiday Wines" list. At prices fit for merrymaking, shoppers can toast old friends and new beginnings and celebrate the special moments of the season with wines all priced under $15 a bottle!

"Here's to this year's list - featuring a large selection of organic wines - which offers super variety at great values," said Doug Bell, global wine co-buyer for Whole Foods Market. "Whether you're looking for something to liven up a holiday gathering or thirsting to warm your soul on a cold winter's night, you'll find it on the list this year."

Here's the list (check it twice!): El Coto Special Cuvee Rioja -- Toasty with a long finish from Spain's noble Tempranillo grapes -- Hearty cherry-vanilla and plum notes make it perfect for roasted meats -- Pair with sharp El Trigal Manchego or Mahon cheese to give it the flavorful grip that Rioja's known for Helfrich Gewurztraminer -- Floral, spicy, bursting with freshness and a rich finish, this is THE White for Thanksgiving and holiday aperitifs -- Tows the line between old-fashioned rose and honey notes and vibrant tropical fruit -- Serve with shellfish or spicy Asian food, or for downright buttery results drink with Bavarian Blue or Robusto cheese Pisato Montepulciano Made with Organically Grown Grapes -- For turkey and other rich poultry, consider this affordable alternative to Chianti with soft tannins and hints of dried fruit -- Bold ruby color and dry, silky fresh tomato notes complement Italian food -- Superbly creamy with Cabot Clothbound Cheddar aged at the Cellars of Jasper Hill or Parmigiano Reggiano Aged 24 months Marques de Riscal Rueda Seleccion Especial -- Old-world Verdejo comes alive in a straw-colored wine brimming with fruit and fennel -- A huge value, serve as an aperitif or with tapas or roasted chicken -- Pair it with Fourme d'Ambert or Drunken Goat cheese to brighten its flavor Red Truck Zinfandel Made with Organically Grown Grapes -- Balanced, organic California wine -- Brambly berries, cracked pepper and dark chocolate finish make taste buds stand at attention, whether you're eating pot roast or pasta -- Wow your taste buds when paired with Stilton produced by Colston Bassett or Borough Market Santa Julia Bonarda Made with Organically Grown Grapes -- Juicy berries and underlying spice drive this lively wine -- Savory match for tomato sauce in pizza and pasta -- Pair with a few bites of Drunken Goat cheese to make the wine jump Los Vascos Special Selection Sauvignon Blanc -- Whole Foods Market snatched up all of this Chilean white, bottled by legendary Bordeaux winemakers -- Boxwood and exotic fruit with minerality and lean elegance are hints of an extraordinary terroir in the foothills of the Andes -- Sip with oysters or a knob of Cypress Grove Humboldt Fog cheese to bring out its juiciness M. Chapoutier Belleruche Special Selection Cotes-du-Rhone Blanc -- Authentic, floral special selection white from a family vintner -- Apple, lime and white pepper notes -- Perfect with roasted veggies or pork, or pair with Austrian Amadeus select cheese and you'll swear you're eating fondue Pepperwood Grove Pinot Noir -- From a beloved brand, warm cherry pie with vanilla ice cream and earthy oak dominate this Chilean bargain that comes in a convenient 750mL two-pack, offering shoppers a real value -- Enjoy a glass while you cook and still have enough for the table -- Serve with beef or look for Gruyere Reserve, Seaside Cheddar or cranberry cheddar to tame the tannins Sutter Home Muscat of Alexandria -- The retro label is a tip-off--you'll find comfort in this bottle -- Honeysuckle and peaches make it playful for occasions like brunch of dessert when you need a wine on the sweet side -- Cowgirl Creamery Organic Mount Tam or Rogue Creamery Anniversary Blue cheese makes the wine's sugary side divine J. P. Chenet Blanc de Blancs Brut -- The value-minded--and utterly delicious--French sparkler is back! Fine bubbles and a golden hue make this delicate but powerful pour refined -- Apricot and buttery brioche notes -- Isigny Ste. Brie from Normandy or Herve Mons Camembert, pour for a toast or sip after a long day, it always shines Paso a Paso Tempranillo Made with Organically Grown Grapes -- From sandy soils in the prized terroir of La Mancha, Spain, comes this powerful Tempranillo -- Six months of aging in French oak barrels results in its deep opaque color and ripe plum and toffee aromas -- Perfect for drinking with hearty winter stews or bring out the creaminess in P'tit Basque cheese for an intense flavor experience

Look for Top Ten Holiday Wines displays throughout Whole Foods Market wine departments. "Feel good about grabbing a budget-friendly bottle to make any meal at home this winter a special occasion," said Bell. "Or pick up a whole case for gifts or party favors and cash in on a case discount."

Whole Foods Market offers recommendations for pairing wine with food and the season's best cheeses -- including a sharp El Trigal Manchego, a super creamy Drunken Goat, and an artisanal Parmigiano Reggiano aged 24 months.

For more about these wines, or about pairings not mentioned in the Top Ten Holiday Wines list, visit Whole Foods Market's Whole Story blog at http://blog.wholefoodsmarket.com/category/wine-beer.

Wine photos can be found at wholefoodsmarket.com/pressroom/photo-gallery. Contact: Ashley Hawkins 512.542.0381 Ashley.Hawkins@wholefoods.com

Whole Foods Market

CONTACT: Ashley Hawkins of Whole Foods Market, +1-512-542-0381,
Ashley.Hawkins@wholefoods.com

Web Site: http://www.wholefoodsmarket.com/

XTO Energy Announces Record Production, Revenues and Cash Flow in Third Quarter; Expects Double-Digit Production Growth and Significant Free Cash Flow for 2010

FORT WORTH, Texas, Nov. 4 /PRNewswire-FirstCall/ -- XTO Energy Inc. today reported record third quarter 2009 production of 2.95 billion cubic feet equivalent (Bcfe) per day, up 23% from the third quarter 2008 level of 2.39 Bcfe per day, and up 2% sequentially from 2.89 Bcfe per day in second quarter 2009. Total revenues for the third quarter were a record $2.29 billion, an 8% increase from $2.13 billion the prior year. Earnings for the quarter totaled $500 million, or $0.86 per share ($0.86 diluted), a 4% decrease from third quarter 2008 earnings of $521 million, or $0.95 per share ($0.94 diluted). After adjusting for a $15 million ($9 million after tax) non-cash derivative fair value loss, adjusted earnings for third quarter 2009 were $509 million, or $0.88 per share ($0.87 diluted). Third quarter 2008 adjusted earnings were $545 million, or $0.99 per share ($0.98 diluted). (1)

Operating income for the quarter was $919 million, a 5% decrease from third quarter 2008 operating income of $969 million. Operating cash flow was a record $1.56 billion, up 3% from 2008 third quarter comparable operating cash flow of $1.52 billion. (1)

Importantly, while equivalent production increased 23%, total production expense declined $14 million or 5%, compared to the third quarter of 2008. Third quarter daily gas production averaged 2.42 Bcf, up 24% from third quarter 2008 daily production of 1.95 Bcf. Daily oil production for the third quarter was 65,822 barrels, a 14% increase from the third quarter 2008 level of 57,637 barrels. During the quarter, natural gas liquids production was 22,010 barrels per day, a 42% increase from the prior year quarter rate of 15,517 barrels per day.

"Notwithstanding volatile natural gas markets, XTO reported another quarter of record production and cash flow, demonstrating our ability to grow efficiently through the cycles. The impact of our 2008 investment and our 2009 capital program was evident during the quarter. Our disciplined internal focus on costs and returns leaves us on track for cash flow near $6 billion, more than 15% above year ago levels," stated Bob R. Simpson, Chairman and Founder. "Looking towards 2010, with about 55% of our anticipated production already hedged at $9.62 per Mcfe, we expect to deliver another year of strong financial returns and substantial free cash flow, while generating double-digit production growth."

"Our robust production growth of 23%, 13% through the drill-bit, is a testament to both the strength of our operating teams and the underlying asset base. The Company's Mid-Continent production grew 23% over the second quarter, driven by our success in the Fayetteville and Woodford shales. In the Fayetteville, daily gross operated production is now above 100 MMcfe; including our significant non-operated position, net quarterly production jumped more than 90 MMcfe year-over-year. In the Freestone Trend, gross operated daily production set another quarterly record, increasing 3% sequentially to 816 MMcf with strong results from the Farrar and Bald Prairie fields," commented Keith A. Hutton, Chief Executive Officer. "Our Haynesville Shale program is going to six rigs, with two rigs in the Shelby, Nacogdoches, and San Augustine County area, two in Panola County and two in Louisiana. Our first well in Louisiana, the recently completed McMichael #2 averaged 14.5 MMcfe/d over a two-week period. We expect to exit 2009 at a 60 to 70 MMcfe/d rate from this prolific play. In the Barnett Shale, we are holding production flat at about 610 MMcfe/d (net) while running only nine rigs against our core acreage position. In the Bakken Shale, we have drilled 19 wells year-to-date in the Three Forks-Sanish play, completing another five in the quarter each with daily peak rates over 1,000 BOE, including our recently announced Jorgenson well (2,827 BOE per day). We plan to double our rig count to six in 2010. Our early success in the Marcellus Shale has encouraged us to add a second rig and we expect to double our rig count in 2010. Simply put, our substantial acreage position across the major shale plays, in addition to our base conventional acreage, leaves us with a deep, low-cost drilling inventory which we expect to efficiently exploit for years to come," continued Hutton.

The average realized gas price for the third quarter decreased 18% to $6.93 per thousand cubic feet (Mcf) from $8.42 per Mcf in third quarter 2008. Natural gas liquids prices averaged $30.59 per barrel for the quarter, 43% lower than the 2008 quarter average price of $53.65. The third quarter average oil price was $108.04 per barrel, a 16% increase from last year's third quarter average price of $93.40.

For the first nine months of 2009, the Company reported earnings of $1.48 billion or $2.56 per share ($2.54 diluted), compared with earnings of $1.56 billion or $3.00 per share ($2.96 diluted) for the same 2008 period. After adjusting for a $122 million ($78 million after tax) non-cash derivative fair value loss and a $17 million ($11 million after tax) gain on extinguishment of debt, the Company's adjusted earnings were $1.55 billion, or $2.67 per share ($2.66 diluted), compared to year-to-date 2008 adjusted earnings of $1.55 billion, or $2.99 per share ($2.95 diluted). (1) Operating cash flow was a record $4.56 billion for the first nine months of 2009, compared with $3.81 billion for the 2008 period. (1) Total revenues for the first nine months of 2009 were a record $6.72 billion, a 17% increase from revenues of $5.73 billion for the same 2008 period. Year-to-date operating income was $2.70 billion, a 4% decrease from $2.80 billion for the first nine months of 2008.

XTO Energy Inc. is a domestic natural gas producer engaged in the acquisition, development and discovery of quality, long-lived oil and natural gas properties in the United States.

(1) Adjusted earnings and operating cash flow are non-GAAP financial measures. See the end of this release for further explanation and reconciliation of these measures.

The Company's third quarter 2009 earnings and operational review conference call will be broadcast live via Internet webcast at 12:00 p.m. (EST) on Wednesday, November 4, 2009. The webcast may be accessed on the Company's website at http://www.xtoenergy.com/.

Statements made in this news release, including those relating to cash flow estimates, financial returns, free cash flow and production growth in 2010, daily production levels in the Haynesville Shale by year end, future operating efficiencies and the rig count in the Bakken Shale and Marcellus Shale in 2010 are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the timing and extent of changes in oil and gas prices, changes in underlying demand for oil and gas, the timing and results of drilling activity, delays in completing production, treatment and transportation facilities, higher than expected production costs and other expenses, pipeline curtailments by thirdparties and general market conditions. Further information on risks and uncertainties is available in the Company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.

XTO ENERGY INC. Consolidated Income Statements (Unaudited) ------------------------------------------ (in millions, except production, per share and per unit data) Three Months Nine Months Ended Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- REVENUES Gas and natural gas liquids $ 1,605 $ 1,586 $ 4,659 $ 4,333 Oil and condensate 654 495 1,947 1,298 Gas gathering, processing and marketing 28 43 109 103 Other 1 1 7 - --- --- --- --- Total Revenues 2,288 2,125 6,722 5,734 ----- ----- ----- ----- EXPENSES Production 248 262 751 670 Taxes, transportation and other 174 206 502 554 Exploration (a) 10 30 64 62 Depreciation, depletion and amortization 811 498 2,293 1,294 Accretion of discount in asset retirement obligation 10 7 30 21 Gas gathering and processing 34 25 92 70 General and administrative (b) 80 83 275 261 Derivative fair value (gain) loss (c) 2 45 17 3 --- --- --- --- Total Expenses 1,369 1,156 4,024 2,935 ----- ----- ----- ----- OPERATING INCOME 919 969 2,698 2,799 --- --- ----- ----- OTHER EXPENSE Interest expense, net (d) 136 132 388 325 --- --- --- --- INCOME BEFORE INCOME TAX 783 837 2,310 2,474 --- --- ----- ----- INCOME TAX Current (e) 96 (65) 338 155 Deferred 187 381 490 758 --- --- --- --- Total Income Tax Expense 283 316 828 913 --- --- --- --- NET INCOME $ 500 $ 521 $ 1,482 $ 1,561 ======= ======= ======= ======= EARNINGS PER COMMON SHARE (f) Basic $ 0.86 $ 0.95 $ 2.56 $ 3.00 ======= ======= ======= ======= Diluted $ 0.86 $ 0.94 $ 2.54 $ 2.96 ======= ======= ======= ======= Average Daily Production ------------------------ Gas (Mcf) 2,420,559 1,949,436 2,334,130 1,817,971 Natural Gas Liquids (Bbls) 22,010 15,517 20,359 15,687 Oil (Bbls) 65,822 57,637 66,881 53,500 Natural Gas Equivalents (Mcfe) 2,947,546 2,388,361 2,857,569 2,233,097 Average Sales Prices (g) ----------------------- Gas (per Mcf) $ 6.93 $ 8.42 $ 7.08 $ 8.22 Natural Gas Liquids (per Bbl) $ 30.59 $ 53.65 $ 26.87 $ 55.14 Oil (per Bbl) $ 108.04 $ 93.40 $ 106.61 $ 88.55 Natural Gas Equivalents (per Mcfe) $ 8.33 $ 9.47 $ 8.47 $ 9.20 XTO ENERGY INC. Consolidated Statements of Cash Flows (Unaudited) ------------------------------------------------ (in millions) Three Months Nine Months Ended Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- OPERATING ACTIVITIES Net income $ 500 $ 521 $ 1,482 1,561 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 811 498 2,293 1,294 Accretion of discount in asset retirement obligation 10 7 30 21 Non-cash incentive compensation 27 37 109 110 Dry hole expense 5 5 35 7 Deferred income tax 187 381 490 758 Non-cash derivative fair value (gain) loss 15 38 122 (11) Gain on extinguishment of debt - - (17) - Other non-cash items 2 8 (12) 12 Changes in operating assets and liabilities net of the effects of acquisition of corporation (1) (630) 159 708 (2) ---- --- --- --- Cash Provided by Operating Activities 927 1,654 5,240 3,750 --- ----- ----- ----- INVESTING ACTIVITIES Proceeds from sale of property and equipment 1 - 3 - Property acquisitions (51) (4,601) (199) (7,621) Development costs, capitalized exploration costs and dry hole expense (661) (958) (2,565) (2,494) Other property and asset additions (112) (288) (493) (637) ---- ---- ---- ---- Cash Used by Investing Activities (823) (5,847) (3,254) (10,752) ---- ------ ------ ------- FINANCING ACTIVITIES Proceeds from long-term debt 1,915 6,698 6,046 13,481 Payments on long-term debt (1,895) (3,910) (7,601) (9,011) Dividends (73) (61) (215) (181) Debt costs - (15) (2) (32) Net proceeds from common stock offerings - 1,388 - 2,612 Proceeds from exercise of stock options and warrants 3 2 9 23 Payments upon exercise of stock options (1) (2) (3) (70) Excess tax benefit on exercise of stock options or vesting of stock awards 1 - 5 64 Other, primarily (decrease) increase in cash overdrafts (37) 63 (226) 135 ---- --- ---- --- Cash (Used) Provided by Financing Activities (87) 4,163 (1,987) 7,021 --- ----- ------ ----- INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 17 (30) (1) 19 Cash and Cash Equivalents, Beginning of Period 7 49 25 - --- --- --- --- Cash and Cash Equivalents, End of Period $ 24 $ 19 $ 24 $ 19 ======= ======= ======= ====== (1)Changes in Operating Assets and Liabilities Accounts receivable $ 36 $ 168 $ 409 $ (370) Other current assets (65) 48 50 59 Other operating assets and liabilities 2 (6) (17) (5) Current liabilities 100 (51) 15 314 Change in current assets from early settlement of hedges, net of amortization (703) - 251 - ---- --- --- --- $ (630)$ 159 $ 708 $ (2) ======= ======= ====== ====== XTO ENERGY INC. Consolidated Balance Sheets --------------------------- (in millions, except shares) September 30, December 31, 2009 2008 ---- ---- ASSETS (Unaudited) Current Assets: Cash and cash equivalents $ 24 $ 25 Accounts receivable, net 813 1,217 Derivative fair value 1,226 2,735 Current income tax receivable 41 57 Other 189 224 --- --- Total Current Assets 2,293 4,258 ----- ----- Property and Equipment, at cost - successful efforts method: Proved properties 33,560 30,994 Unproved properties 3,740 3,907 Other 2,712 2,239 ----- ----- Total Property and Equipment 40,012 37,140 Accumulated depreciation, depletion and amortization (8,094) (5,859) ------ ------ Net Property and Equipment 31,918 31,281 ------ ------ Other Assets: Derivative fair value 262 1,023 Acquired gas gathering contracts, net of accumulated amortization 99 105 Goodwill 1,475 1,447 Other 138 140 --- --- Total Other Assets 1,974 2,715 ----- ----- TOTAL ASSETS $ 36,185 $ 38,254 ========= ========= LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable and accrued liabilities $ 1,421 $ 1,912 Payable to royalty trusts 21 13 Current maturities of long-term debt 250 - Derivative fair value 186 35 Deferred income tax payable 443 940 Other 47 30 --- --- Total Current Liabilities 2,368 2,930 ----- ----- Long-term Debt 10,135 11,959 ------ ------ Other Liabilities: Derivative fair value 52 - Deferred income taxes payable 5,404 5,200 Asset retirement obligation 771 735 Other 79 83 --- --- Total Other Liabilities 6,306 6,018 ----- ----- Commitments and Contingencies Stockholders' Equity: Common stock ($.01 par value, 1,000,000,000 shares authorized, 586,127,049 and 585,094,847 shares issued) 6 6 Additional paid-in capital 8,434 8,315 Treasury stock, at cost (5,819,436 and 5,563,247 shares) (155) (147) Retained earnings 7,853 6,588 Accumulated other comprehensive income (loss) 1,238 2,585 ----- ----- Total Stockholders' Equity 17,376 17,347 ------ ------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 36,185 $ 38,254 ========= ========= (a) Includes geological and geophysical costs, as well as dry hole costs of $5 million in the three-month and $35 million in the nine-month 2009 periods, and $5 million in the three-month and $7 million in the nine-month 2008 periods. (b) Includes non-cash incentive award compensation of $27 million in the three-month and $109 million in the nine-month 2009 periods, and $37 million in the three-month and $110 million in the nine-month 2008 periods. (c) The derivative fair value (gain) loss comprises the change in fair value of the following derivative financial instruments not providing effective hedges (in millions): Three Months Nine Months Ended Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Other non-hedge derivatives $ 2 $ 58 $ 38 $ (5) Ineffective portion of hedge derivatives - (13) (21) 8 --- --- --- --- Total derivative fair value (gain) loss $ 2 $ 45 $ 17 $ 3 ======= ======= ======= ======= (d) Net of capitalized interest of $9 million in the three-month and $32 million in the nine-month 2009 periods, and $11 million in the three- month and $26 million in the nine-month 2008 periods. Also includes gain on extinguishment of debt of $17 million in the nine-month 2009 period. (e) The current income tax provision exceeds cash tax expense by the benefit realized upon exercise of stock options or vesting of stock awards in excess of amounts expensed in the financial statements. This benefit, which is recorded in additional paid-in capital, was less than $1 million in the three-month and $5 million in the nine- month 2009 periods, and $2 million in the three-month and $71 million in the nine-month 2008 periods. (f) The following reconciles earnings and shares used in the computation of basic and diluted earnings per common share (in millions, except per share data): Three Months Ended September 30, -------------------------------- 2009 2008 ---- ---- Earnings Earnings per per Earnings Shares Share Earnings Shares Share -------- ------ -------- -------- ------ -------- Total $500 580.2 $521 549.4 Attributable to participating securities (4) (4.6) (3) (2.8) --- ---- --- ---- Basic $496 575.6 $0.86 $518 546.6 $0.95 ===== ===== Effect of dilutive securities: Stock options - 2.8 - 4.1 Warrants - 1.2 - 1.5 --- --- --- --- Diluted $496 579.6 $0.86 $518 552.2 $0.94 ==== ===== ===== ==== ===== ===== Nine Months Ended September 30, ------------------------------- 2009 2008 ---- ---- Earnings Earnings per per Earnings Shares Share Earnings Shares Share -------- ------ -------- -------- ------ -------- Total $1,482 579.9 $1,561 519.8 Attributable to participating securities (12) (4.6) (8) (2.5) --- ---- --- ---- Basic $1,470 575.3 $2.56 $1,553 517.3 $3.00 ===== ===== Effect of dilutive securities: Stock options - 2.4 - 5.3 Warrants - 1.1 - 1.6 --- --- --- --- Diluted $1,470 578.8 $2.54 $1,553 524.2 $2.96 ====== ===== ===== ====== ===== ===== Effective January 1, 2009, we adopted the provisions of the new rules found in the FASB Accounting Standards Codification regarding the computation of EPS using the two-class method. As a result, we retrospectively adjusted the calculation of our 2008 earnings per share. The previously reported earnings per share for third quarter 2008 were $0.95 basic and $0.94 diluted and for the nine months ended September 30, 2008 were $3.02 basic and $2.98 diluted. (g) Average sales prices include realized gains and losses upon cash settlement of hedge derivatives. Realized gains and losses on non-hedge derivatives and on the ineffective portion of hedge derivatives are recorded as a component of derivative fair value (gain) loss (see (c) above). These non-hedge and ineffective derivative gains and losses are primarily related to certain of our crude oil swap agreements that did not qualify for hedge accounting, and the timing of entering basis swap agreements and designating them as hedges associated with NYMEX swaps. Had realized non-hedge and ineffective gains and losses, attributable to third quarter and nine-month production, been recorded as gas, natural gas liquids and oil revenue, the average gas, natural gas liquids and oil prices would have been: Three Months Nine Months Ended Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Gas (per Mcf) $ 7.03 $ 8.37 $ 7.16 $ 8.19 Natural gas liquids (per Bbl) 30.59 53.77 26.87 55.23 Oil (per Bbl) 106.51 93.52 109.44 88.56 Non-GAAP Financial Measures Adjusted Earnings

Adjusted earnings, a non-GAAP financial measure, excludes certain items that management believes affect the comparability of operating results. The Company discloses adjusted earnings as a useful adjunct to GAAP net income because:

-- Management uses adjusted earnings to evaluate the Company's operational trends and performance relative to other oil and gas producing companies. -- Adjusted earnings are more comparable to earnings estimates provided by securities analysts. -- Items excluded generally are items whose timing or amount cannot be reasonably estimated. Accordingly, any guidance provided by the Company generally excludes information regarding these types of items. The following reconciles GAAP net income to adjusted earnings: Three Months Nine Months Ended Ended (in millions, except per share data) September 30, September 30, ------------- ------------- (Unaudited) 2009 2008 2009 2008 ---- ---- ---- ---- Net income $ 500 $ 521 $ 1,482 $ 1,561 Adjustments, net of tax: Non-cash derivative fair value (gain) loss 9 24 78 (7) Gain on extinguishment of debt - - (11) - --- --- --- --- Adjusted earnings $ 509 $ 545 $ 1,549 $ 1,554 ======= ======= ======= ======= Adjusted earnings per common share: Basic $ 0.88 $ 0.99 $ 2.67 $ 2.99 ======= ======= ======= ======= Diluted $ 0.87 $ 0.98 $ 2.66 $ 2.95 ======= ======= ======= ======= Operating Cash Flow

Operating cash flow, a non-GAAP financial measure, is defined as cash provided by operating activities before changes in operating assets and liabilities, exploration expense and significant cash flow effects of earnings adjustments. Because of these adjustments, this cash flow statistic is different from cash provided by operating activities, as disclosed under GAAP. Management believes operating cash flow is a better liquidity indicator for oil and gas producers because of the adjustments made to cash provided by operating activities, explained as follows:

-- Adjustment for changes in operating assets and liabilities eliminates fluctuations primarily related to the timing of cash receipts and disbursements, which can vary from period-to-period because of conditions the Company cannot control (for example, the day of the week on which the last day of the period falls), and results in attributing cash flow to operations of the period that provided the cash flow. -- Adjustment for exploration expense is to provide an amount comparable to operating cash flow for full cost companies and to eliminate the effect of a discretionary expenditure that is part of the Company's capital budget. -- Adjustment for the significant cash flow effects of earnings adjustments (see "Adjusted Earnings" above) so that operating cash is reported on a basis comparable to adjusted earnings.

Management uses operating cash flow not only for measuring the Company's cash flow and liquidity, but also in evaluating the Company against other oil and gas producing companies and valuing potential producing property acquisitions.

The following reconciles cash provided by operating activities, the GAAP cash flow measure, to operating cash flow:

Three Months Nine Months Ended Ended (in millions) September 30, September 30, ------------- ------------- (Unaudited) 2009 2008 2009 2008 ---- ---- ---- ---- Cash Provided by Operating Activities $ 927 $ 1,654 $ 5,240 $ 3,750 Changes in operating assets and liabilities 630 (159) (708) 2 Exploration expense, excluding dry hole expense 5 25 29 55 --- --- --- --- Operating Cash Flow $ 1,562 $ 1,520 $ 4,561 $ 3,807 ======= ======= ======= =======

XTO Energy Inc.

Web Site: http://www.xtoenergy.com/

Le Gourmet Chef(R) Launches New E-Commerce Website

CHILLICOTHE, Ohio, Nov. 4 /PRNewswire-FirstCall/ -- Today Le Gourmet ChefÂ® stores announced the launch of a new e-commerce website. The site has a refreshing new look, double the number of products and fun interactive features designed to enhance the user experience, simplify shopping and provide on-line customers with a sense of the dynamic experience at Le Gourmet Chef'sÂ® retail store locations.

To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/le-gourmet-chefr-launches-new-e-commer ce-website-68995097.html

The new site is designed to allow customers to explore and find products in the way that appeals most to them. Easy-to-use drop-down menus cover all product areas from Gourmet Foods to Cookware. Special tabs also take customers to collections of products and recipes organized by seasonal themes, much in the way theme tables display items in the Le Gourmet ChefÂ® retail stores. Customers can quickly find new items in any category or can shop by brand name. Original photography captures the store's products vividly in real kitchen settings.

"We're thrilled about the new site. If you've ever been to a Le Gourmet Chef store, you'll immediately recognize the store's style and tone in what you see," said Susan Johnson, Director of Marketing and Visual Merchandising for Le Gourmet Chef. "And, if you've never been to one of our stores, we hope the website will inspire you to visit. Our new website truly captures the spirit of Le Gourmet Chef's brand mantra - cook, eat, entertain."

A fun feature of the new website is a section showing which delicious dips and salsas are currently being sampled in Le Gourmet ChefÂ® stores. For a number of these items, users will find short videos of real customers tasting these foods in the stores and can see and hear the reactions. Other videos on the site provide on-line customers with product demonstrations and a tour of one of Le Gourmet Chef's 77 stores.

Of course, the new website is full of fantastic values as well. Special promotional boxes appear throughout the site and a section is devoted to sale, clearance and hot-buy items. Le Gourmet Chef has also updated its email program, providing registered members with improved values offered more frequently. Customers can easily sign up to receive these offers on the new website.

The new Le Gourmet Chef website was designed and programmed by SilverTech, an interactive firm located in Manchester, New Hampshire. SilverTech provides web services to a number of consumer brands, including gourmet food producer Robert Rothschild Farms and casual apparel manufacturer Life is Good.

Le Gourmet Chef plans to update the new website frequently with the latest products, new seasonal photos and themes, as well as continued special values. Said Johnson, "We encourage everyone who loves cooking, eating and entertaining to visit our new website and to return frequently to see what's new. Let the parties begin!"

About Le Gourmet Chef

Le Gourmet Chef, headquartered in Chillicothe, OH, operates 77 retail stores located in outlet and traditional malls throughout the United States, as well as a fully operating e-commerce website. Stores provide gourmet foods, cooking preparation products, such as cookware and cutlery, and home entertainment items, such as barware and decorative accessories. Le Gourmet Chef is owned by Kitchen Collection, Inc., a subsidiary of NACCO Industries, Inc.

About SilverTech

SilverTech, Inc. is a national interactive agency based in New England that expertly solves online marketing, technology, operations, fundraising, and communication challenges for businesses by creating value-driven web, digital and data-powered solutions. Services such as strategic consultation, site architecture, website design & development, multimedia graphics & animation, search engine optimization, online marketing, e-commerce, performance analysis, web application development and content management solutions are designed or customized to fit exact business requirements.

Related Links Le Gourmet Chef Website Homepage New "Shop the Season" Section of Website Video Links in "About Us" Section "Sale & Clearance" Section

Video: http://www.prnewswire.com/news-releases/le-gourmet-chefr-launches-new-e-commerce-website-68995097.html Le Gourmet Chef

CONTACT: Ms. Susan Johnson, Director of Marketing and Visual
Merchandising, Le Gourmet Chef, +1-740-774-0841

Web Site: http://www.legourmetchef.com/

CSN Records Net Income of R$1.15 Billion, Sales Volume Moves up by 39% and the EBITDA Margin Widens to 33% in the 3Q09

SAO PAULO, Nov. 4 /PRNewswire-FirstCall/ -- Companhia Siderurgica Nacional CSN (BOVESPA: CSNA3) announces today its results for the 3Q09:

-- Net income totaled R$1.15 billion in the 3Q09, 243% up on the R$335 million recorded in the previous quarter. In the first nine months, net income stood at R$1.85 billion, also an improvement over the same period last year; -- Steel product sales volume amounted to 1.32 million tonnes, 39% more than the 2Q09; -- Crude steel production in the 3Q09 came to 1.18 million tonnes, with rolled output of 1.32 million tonnes, 35% and 37% up, respectively, on the 2Q09; -- The average rolled steel unit production cost fell from R$964/t in the 2Q09 to R$784/t in the 3Q09, a hefty 19% reduction; -- 3Q09 net revenue totaled R$3.0 billion, 20% more than the R$2.5 billion reported in the 2Q09; -- 3Q09 EBITDA stood at close to R$1.0 billion, a 36% improvement over the 2Q09, with an EBITDA margin of 33%, up by 4 p.p. on the 2Q09, further underlining the Company's margin recovery process; -- In 2009 through September 30, CSN's shares appreciated by 100% on the Bovespa (Brazil), the 10th largest upturn among those firms listed on the Ibovespa index, while its ADRs climbed by 155% on the NYSE, the 8th highest increase among all the Latin American ADRs listed on the New York Stock Exchange; -- CSN closed the 3Q09 with a market cap of US$22.3 billion, the highest figure of any steel manufacturer in the Americas; -- Also at the end of the 3Q09, ROE stood at 91%, considering net income in the last 12 months, growth of 23 p.p. over the previous quarter; -- In September 2009, through its wholly-owned subsidiary CSN Islands XI Corporation, CSN effected a US$750 million bond issue at 6.875% p.a., maturing in 10 years.

The full 3Q09 Earnings Release is available on CSN's IR website at http://www.csn.com.br/ir

CSN will be hosting conference calls about its 3Q09 Results TODAY, November 4, 2009, at 9:00 a.m. US EST in English and 7:00 a.m. US EST in Portuguese. Connection details may be accessed on the Company's IR website.

Companhia Siderurgica Nacional

CONTACT: David Salama, IR Manager of Companhia Siderurgica Nacional, 55
11 3049-7588, david.salama@csn.com.br

Web Site: http://www.csn.com.br/ir/

Telanetix to Hold Third Quarter 2009 Results Conference Call on November 11, 2009

BELLEVUE, Wash., Nov. 4 /PRNewswire-FirstCall/ -- Telanetix, Inc. (OTC Bulletin Board: TNXI), a leading communications solutions provider offering next generation voice services and solutions to the business market, is scheduled to host a conference call to discuss Third Quarter results on Wednesday, November 11, 2009 at 1:30 p.m. Pacific Time (4:30 p.m. ET). Management will deliver prepared remarks and conduct a questions and answer session.

What: Telanetix Third Quarter 2009 Financial Results Conference Call When: Wednesday, November 11th at 1:30 p.m. Pacific Time (4:30 p.m. ET)

Dial In: To access the call in the United States, dial (800) 510-9834, or (617) 614-3669 for international callers, and enter pass code 74013188.

Webcast: The call will also be broadcast live over the Internet and will be available for replay for 90 days at http://www.telanetix.com/.

Replay: A telephone replay will be available two hours after the call through November 14, 2009 by dialing (888) 286-8010 in the United States and (617) 801-6888 for international callers. All parties will need the following replay pass code 84247773.

About Telanetix, Inc.

Telanetix is a leading communications solutions provider offering next generation voice services and video telepresence solutions to the business market. Telanetix solutions meet the real-world communications demands of its customers with powerful, cost effective industry-leading communication solutions. The company's voice offerings, marketed under the "AccessLine" brand, give business customers a flexible, easy to use, cost effective alternative to today's traditional phone service, offering flexible calling solutions, a simpler installation experience, and a greater range of support options than traditional telecom providers. The company's video telepresence offering, marketed under the Telanetix Digital Presence(TM) brand, creates fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment. Additional information may be found at the Telanetix corporate website, http://www.telanetix.com/.

Telanetix, Inc.

CONTACT: Investor Relations: Charles Messman or Todd Kehrli, MKR Group,
+1-323-468-2300, tnxi@mkr-group.com; or Media: Sean Carney or Matt Rizzetta,
Dukas Public Relations, +1-212-704-7385, sean@dukaspr.com

Web Site: http://www.telanetix.com/

Telanetix Announces New Cordless Handsets for Small Business VOIP MarketLeading business communications solutions provider offers new product extension and integrates DECT Cordless Phones with its AccessLine Digital Phone System

BELLEVUE, Wash., Nov. 4 /PRNewswire-FirstCall/ -- Telanetix, Inc. (OTC Bulletin Board: TNXI), a leading communications solutions provider offering next generation voice services and solutions to the business market, today announced the addition of cordless phones to its Digital Phone System suite of services based on the DECT (Digitally Enhanced Cordless Telecommunications) standard. The Digital Phone System, marketed under the AccessLine brand, is available in several configurations and models for either home or small business offices. The system comes bundled with service that includes a complete business phone application suite that is based on the Telanetix nationwide VoIP Network.

"These cordless handsets fill an important void in business communications by offering a full range of functionality that most other phone systems don't provide," said Kent Hellebust, General Manager of Small Business Services at Telanetix. "We have fully integrated the new cordless units from Vertical Inc. with our system and have taken full advantage of the DECT protocol, which offers a superior business class experience by significantly decreasing interference from other wireless devices. Every cordless phone on our system is a completely independent station and seamlessly functions like any other business desk phone while providing these added advantages."

The new cordless handsets offer more than 30 important business features, including: inter-extension dialing with non-cordless handsets on the same phone system, intercom, call park/pickup, headset compatibility, and many more. As with all AccessLine Digital Phone Systems, the cordless handsets arrive custom-configured to the specific business needs of each individual small business.

For more information on Telanetix and its communication solutions, please contact Charles Messman or Todd Kehrli of the MKR Group at: (323) 468-2300, or visit: http://www.accessline.com/.

About Telanetix, Inc.

Telanetix is a leading communications solutions provider offering next generation voice services to the business market. Telanetix solutions meet the real-world communications demands of its customers with powerful, cost effective industry-leading communication solutions. The company's voice offerings, marketed under the "AccessLine" brand, give business customers a flexible, easy to use, cost effective alternative to today's traditional phone service, offering flexible calling solutions, a simpler installation experience, and a greater range of support options than traditional telecom providers. The company's video telepresence offering, marketed under the Telanetix Digital Presence(TM) brand, creates fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment. Additional information may be found at the Telanetix corporate website, http://www.telanetix.com/.

Telanetix, Inc.

CONTACT: Investor Relations: Charles Messman or Todd Kehrli of MKR
Group, +1-323-468-2300, tnxi@mkr-group.com; or Media: Sean Carney or Matt
Rizzetta, both of Dukas Public Relations, +1-212-704-7385, sean@dukaspr.com

Web Site: http://www.telanetix.com/

China Automotive Systems To Announce 2009 Third Quarter Financial Results on November 12

Teleconference to be held at 8:00 A.M. EST

WUHAN, China, Nov. 4 /PRNewswire-Asia-FirstCall/ -- China Automotive Systems, Inc. , a leading power steering components and systems supplier in China, today announced that it will issue financial results for the third quarter ended September 30, 2009 on Thursday, November 12, 2009 before the stock market opens. Management will conduct a conference call on Thursday, November 12th at 8:00 a.m. Eastern Standard Time to discuss these results. A question and answer session will follow management's presentation.

To participate, please call the following numbers 10 minutes before the call start time and ask to be connected to the "China Automotive Systems" conference call:

Phone Number: +1-877-407-9205 (North America) Phone Number: +1-201-689-8054 (International)

In addition, the conference call will be broadcast live over the Internet at: http://www.caasauto.com/

Please go to the web site at least 15 minutes early to register, download and install any necessary software.

A telephone replay of the call will be available after the conclusion of the conference call through 11:59 PM Eastern Standard Time on Thursday, November 26, 2009. The dial-in details for the replay are: U.S. Toll Free Number +1-877-660-6853, International dial-in number +1-201-612-7415; using Account "286" and Conference ID "337003" to access the replay. The internet audio stream will also be available until 11:59 pm Eastern Standard Time on Thursday, November 26.

About China Automotive Systems, Inc.

Based in Hubei Province, People's Republic of China, China Automotive Systems, Inc. is a leading supplier of power steering components and systems to the Chinese automotive industry, operating through eight Sino-foreign joint ventures. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers 4 separate series of power steering with an annual production capacity of over 1.8 million sets, steering columns, steering oil pumps and steering hoses. Its customer base is comprised of leading Chinese auto manufacturers such as China FAW Group, Corp., Dongfeng Auto Group Co., Ltd., BYD Auto Company Limited, Beiqi Foton Motor Co., Ltd. and Chery Automobile Co., Ltd., etc. For more information, please visit: http://www.caasauto.com/

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and, condition and the impact of acquisitions on its financial performance. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the impact of competitive products, pricing and new technology; changes in demand for the Company's products; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, delays and cost overruns related to developing and opening new production facilities; and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time.

For further information, please contact: Jie Li Chief Financial Officer China Automotive Systems Email: jieli@chl.com.cn Kevin Theiss Investor Relations Grayling Tel: +1-646-284-9409 Email: kevin.theiss@us.grayling.com

China Automotive Systems, Inc.

CONTACT: Jie Li, Chief Financial Officer of China Automotive Systems,
jieli@chl.com.cn; Kevin Theiss, Investor Relations of Grayling,
+1-646-284-9409, or kevin.theiss@us.grayling.com

Web Site: http://www.caasauto.com/

Blackboard Adds BlackBerry App for Mobile Web PlatformWith App, More Users Enjoy Enhanced Experience with Blackboard Mobile

DENVER, Nov. 4 /PRNewswire-FirstCall/ -- Blackboard Inc. announced the launch of a native application for BlackBerryÂ® mobile devices, debuting at the University of Washington this week, as part of the new Blackboard Mobile(TM) platform which is being leveraged by a growing number of campuses and K-12 schools to deliver a rich set of campus life services and content to mobile devices.

The BlackBerry application enables many more users to enjoy an enhanced experience while navigating course catalogs and campus maps, e-mailing professors and classmates and receiving real time updates on course schedules, campus events, news and sports with Mobile Central (formerly MobilEdu(TM)), Blackboard Mobile's flagship suite of applications.

Originally optimized for users of AppleÂ® iPhoneÂ® and iPod TouchÂ® devices, the best Mobile Central experience is now available to users of BlackBerry devices. The suite is also generally accessible to users of any smart phone or mobile Web enabled device.

"This new platform allows us to easily reach our students, faculty and staff around the clock and deliver information whenever and wherever they want it, which increasingly is on mobile devices like the BlackBerry and iPhone," said David Morton, Director of Mobile Communication Strategies at the University of Washington (UW). "As a modern, global university, UW committed to embracing mobile communications and is pleased to be the launch institution for the BlackBerry initiative."

"Institutions are looking for new ways to engage and support their communities, and we're building a mobile platform that helps them do that," said Michael Chasen, President and CEO of Blackboard. "Increasingly, we hope to help institutions change expectations by enabling mobile services and interactions that represent the full range of the education and campus experience."

Originally developed by San Francisco-based Terriblyclever Design, LLC, which was acquired by Blackboard in July, Mobile Central is branded for each institution and accessed by users who download their institution's application. The category defining suite of mobile applications for education is helping to better connect students, parents, faculty, prospective students and alumni to the campus experience in a way that wasn't possible before.

With Mobile Central, users have access to course catalogs, directories and maps, they can identify exact campus locations with GPS and they can check campus news, schedules, and real-time scores for athletic teams. In addition, open APIs for Blackboard Mobile enable institutions to extend the platform's offerings to fully customize and personalize the school's iPhone, BlackBerry and mobile Web interfaces.

The announcement was made at the EDUCAUSE 2009 annual conference in Denver, Colo., where several thousand members of the higher education community have gathered at the industry's premier information technology event.

"The BlackBerry app is something our clients have asked for and is part of our effort to create an optimized experience for all mobile users," said Kayvon Beykpour, Vice President of Blackboard Mobile. "We're happy to work with institutions to leverage technologies that meet the expectations of students and other campus constituents who live and learn in a mobile, digital world."

For more information about the Blackboard Mobile platform, please visit http://www.blackboard.com/mobile.

About Blackboard Inc.

Blackboard Inc. is a global leader in enterprise technology and innovative solutions that improve the experience of millions of students and learners around the world every day. Blackboard's solutions allow thousands of higher education, K-12, professional, corporate, and government organizations to extend teaching and learning online, facilitate campus commerce and security, and communicate more effectively with their communities. Founded in 1997, Blackboard is headquartered in Washington, D.C., with offices in North America, Europe, Asia and Australia.

Any statements in this press release about future expectations, plans and prospects for Blackboard and other statements containing the words "believes," "anticipates," "plans," "expects," "will," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the "Risk Factors" section of our Form 10-Q filed on August 6, 2009 with the SEC. In addition, the forward-looking statements included in this press release represent the Company's views as of November 4, 2009. The Company anticipates that subsequent events and developments will cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to November 4, 2009.

BlackBerry is a registered trademark of Research in Motion Inc.

iPhone is a trademark and Apple, iPod touch and iTunes are registered trademarks of Apple Inc.

Blackboard Inc.

CONTACT: Matthew Maurer of Blackboard Inc., +1-202-463-4860 ext. 2637,
matthew.maurer@blackboard.com

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

Blackboard Joins Forces with Microsoft to Make Course Information Available on Web BrowsersCompanies Collaborate on Blackboard Learn for Bing

DENVER, Nov. 4 /PRNewswire-FirstCall/ -- Blackboard Inc. today announced an alliance with Microsoft Corporation to offer students and learners access to information from their online courses on Web browsers, enabling them to keep up with important course updates while surfing the Web, not just when logged into their BlackboardÂ® accounts.

Under the agreement, Blackboard and Microsoft will work together to enable notifications to appear in their Web browser using the Bing(TM) toolbar when new course information becomes available through the Blackboard Learn(TM) platform. The toolbar will also be compatible with the Internet ExplorerÂ® and FirefoxÂ® Web browsers.

Streamlined access to course information will make it easier for millions of students who log in to their Blackboard accounts several times daily to check for assignments, grades, announcements and other information. With the Blackboard Learn toolbar for Bing, IE and Firefox, students will receive updates on their courses, groups and organizations directly in their browser, regardless of which Web site they are visiting and without having to log in to Blackboard every time.

"We are always looking for ways to get information out to students in the places they already spend their time," said Nick McClure, Lead Systems Programmer at the University of Kentucky. "Customizing the toolbar to include personalized Blackboard content will make this more than just another tool. Students will get security and protection, while staying up to date on their courses."

Blackboard previously created similar applications to enable students and learners to receive course notifications and alerts through the FacebookÂ® platform and on AppleÂ® iPhoneÂ® or iPod touchÂ® devices. Together, the integrations are part of the company's overall effort to increase student engagement by creating streamlined access to course information in a variety of popular platforms and devices - not just within Blackboard Learn.

"This partnership extends our effort to bring important educational information to students wherever they are and whenever they need it, in the most convenient method possible," said Matthew Small, Blackboard's Chief Business Officer. "This offering will help our clients continue to drive adoption of their e-learning initiatives on campus as well as reduce their support costs."

Work to enable access to course updates in Web browsers, the Facebook platform and on mobile devices is central to Blackboard's efforts to help institutions better meet the needs of learners and promote higher achievement through greater engagement. In each case, Blackboard has worked to ensure the broader availability of updates on course information to keep users engaged while taking steps to protect student privacy.

"We are excited to be working with Blackboard to enable students to enjoy deeper connections to the information that matters most to them," said Jon Tinter, General Manager of the Microsoft Online Service Division. "Bing is about helping folks make smarter, faster decisions and our work with Blackboard will empower students with deeper connections to their course information and powerful search technologies to help them make better decisions in their busy day to day lives."

As part of the alliance, Blackboard is also using Microsoft's Bing decision engine to help power its SafeAssign(TM) plagiarism prevention service. In addition, Microsoft has joined the Blackboard Alliance Program(TM) as a Blackboard Premier Partner(TM).

For more information about Blackboard Learn, please visit http://www.blackboard.com/Teaching-Learning/Learn-Platform.aspx.

About Blackboard Inc.

Blackboard Inc.

CONTACT: Matthew Maurer of Blackboard Inc., +1-202-463-4860 ext. 2637,
matthew.maurer@blackboard.com

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

BD Announces Results for Fourth Fiscal Quarter and Full Year

FRANKLIN LAKES, N.J., Nov. 4 /PRNewswire-FirstCall/ -- BD (Becton, Dickinson and Company) today reported quarterly revenues of $1.898 billion for the fourth fiscal quarter ended September 30, 2009, representing an increase of 5 percent from the prior-year period, or 8 percent excluding the unfavorable impact from foreign currency translation.

For the full fiscal year ended September 30, 2009, BD reported revenues of $7.161 billion, representing an increase of 1 percent over the prior year, or 5 percent excluding the unfavorable impact from foreign currency translation.

"The achievement of solid fourth quarter performance, in particular BD Medical and BD Diagnostics, marks the conclusion of another successful year for BD," said Edward J. Ludwig, Chairman and Chief Executive Officer. "This strong finish to the year provides a platform for growth in fiscal 2010 and gives us confidence we will achieve our stated long-term goals."

Fourth Quarter Earnings and Analysis of Full Fiscal Year 2009 and 2008 Earnings

Reported diluted earnings per share from continuing operations of $1.25 for the fourth quarter of 2009 increased by 13 percent over reported diluted earnings per share from continuing operations of $1.11 for the fourth quarter of 2008. On a currency-neutral basis, diluted earnings per share from continuing operations for the fourth quarter of fiscal 2009 increased 17 percent.

(Table 1) Twelve Months Ended September 30, --------- ----------------------------------- FY2009 FY2008 % Change FXN % Change ------ ------ -------- ------------ Diluted EPS from Continuing Operations: $4.92 $4.42 11% Specified Items: ---------------- Litigation Charge (1) $0.11 Tax Adjustment (2) (0.08) ----- ----- Adjusted Diluted EPS from Continuing Operations: $4.95 $4.42 12% 10% ===== ===== === ===

(1) Represents the charge relating to the pending settlement with the direct purchaser plaintiffs (which includes BD's distributors) in the antitrust class actions.

(2) Represents the tax benefit relating to various tax settlements in multiple jurisdictions.

The preceding analysis (Table 1) of diluted earnings per share from continuing operations for the twelve-month periods ended September 30, 2009 and 2008 identifies the specified items that affect comparability of results between periods. As illustrated, fiscal year 2009 diluted earnings per share from continuing operations of $4.92 included the third quarter tax benefit of 8 cents and the second quarter charge of 11 cents relating to a pending antitrust class action settlement. Excluding these specified items, diluted earnings per share from continuing operations for the twelve-month period in fiscal year 2009 were $4.95, representing an increase of 12 percent over diluted earnings per share from continuing operations of $4.42 from the prior-year period. On a currency-neutral basis, adjusted diluted earnings per share from continuing operations for the twelve-month period ending September 30, 2009 increased 10 percent.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $1 billion, representing an increase of 8 percent from the prior-year period, or 13 percent excluding the unfavorable impact from foreign currency translation. Strong sales of Pharmaceutical Systems products, as expected, and solid sales of Medical Surgical Systems products contributed to revenue growth; both included a favorable impact from flu-related sales. For the twelve-month period ended September 30, 2009, the BD Medical segment reported flat revenue growth. On a currency-neutral basis, BD Medical revenues for the twelve-month period increased by 6 percent to $3.731 billion.

In the BD Diagnostics segment, worldwide revenues for the quarter were $580 million, representing an increase of 5 percent from the prior-year period or 8 percent excluding the unfavorable impact from foreign currency translation. Sales of safety-engineered devices, cancer diagnostics products and infectious disease testing systems, including flu-related products, contributed to revenue growth. For the twelve-month period ended September 30, 2009, the BD Diagnostics segment reported 3 percent revenue growth to $2.226 billion. On a currency-neutral basis, BD Diagnostics revenues for the twelve-month period increased by 7 percent.

In the BD Biosciences segment, worldwide revenues for the quarter were $312 million, representing a decrease of 5 percent from the prior-year period, or a decrease of 4 percent excluding the unfavorable impact from foreign currency translation. Demand in the U.S. for capital equipment in the research and clinical segments continued to be impacted by funding constraints. International revenue growth continued to moderate as well. For the twelve-month period ended September 30, 2009, the BD Biosciences segment reported 1 percent revenue growth to $1.204 billion. On a currency-neutral basis, BD Biosciences revenues for the twelve-month period increased by 2 percent.

Geographic Results

Fourth quarter revenues in the U.S. were $840 million, representing an increase of 6 percent from the prior-year period. Revenues outside of the U.S. were $1.058 billion, representing an increase of 4 percent from the prior-year period, or 10 percent excluding the unfavorable impact from foreign currency translation.

For the twelve-month period ended September 30, 2009, revenues in the U.S. were $3.205 billion, representing an increase of 3 percent from the prior-year period. Revenues outside of the U.S. were $3.956 billion, representing flat growth from the prior-year period, or 7 percent growth excluding the unfavorable impact from foreign currency translation.

Fiscal 2010 Outlook for Full Year

The Company estimates that reported revenues for the full fiscal year 2010 will increase about 6 percent, or 5 to 6 percent excluding the estimated favorable impact from foreign currency translation.

The Company expects diluted earnings per share from continuing operations for the full fiscal year 2010 to increase approximately 1 to 3 percent over adjusted diluted earnings per share from continuing operations, excluding specified items, of $4.95 for the fiscal year 2009, or 7 to 9 percent excluding the estimated unfavorable impact from foreign currency translation.

Conference Call Information

A conference call regarding BD's fourth fiscal quarter and full year results and its expectations for fiscal year 2010 will be broadcast live on BD's website, http://www.bd.com/investors, along with related slides, at 10:00 a.m. (ET) Wednesday, November 4, 2009. The conference call will be available for replay through the close of business on November 11, 2009 on BD's website, http://www.bd.com/investors, or at 1-800-642-1687 (domestic) and 1-706-645-9291 (international), access code 34687454.

This news release contains certain non-GAAP financial measures. A reconciliation of these and other measures to the comparable GAAP measures is included in this release and in the attached financial tables, as well as in the Form 8-K that BD filed today with the SEC.

About BD

BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in approximately 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit http://www.bd.com/.

This press release, including the section entitled "Fiscal 2010 Outlook for Full Year," contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding BD's performance, including future revenues, earnings per share and income, or events or developments that BD expects to occur or anticipates occurring in the future. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. With respect to forward-looking statements contained herein, a number of factors could cause actual results to vary materially from any forward-looking statement. For instance, various healthcare reform proposals, if enacted, would impose an excise tax applicable to medical device manufacturers, including BD, and these may be effective in calendar year 2010. Other factors include, but are not limited to: adverse changes in regional, national or foreign economic conditions, including any impact that may result from the current global economic downturn on our ability to access credit markets and finance our operations, the demand for our products and services, or our suppliers' ability to provide products needed for our operations; changes in interest or foreign currency exchange rates, particularly in light of increased volatility in currency exchange rates; potential healthcare reform, including changes in government pricing and reimbursement policies or other cost containment reforms; competitive factors; pricing and market share pressures; difficulties inherent in product development and delays in product introductions; increases in energy costs and their effect on, among other things, the cost of producing BD's products; fluctuations in costs and availability of raw materials and in BD's ability to maintain favorable supplier arrangements and relationships; uncertainties of litigation (as described in BD's filings with the Securities and Exchange Commission); the effects of potential pandemic diseases; our ability to successfully integrate any businesses we acquire; and issuance of new or revised accounting standards, as well as other factors discussed in BD's filings with the Securities and Exchange Commission. We do not intend to update any forward-looking statements to reflect events or circumstances after the date hereof except as required by applicable laws or regulations.

BECTON DICKINSON AND COMPANY CONSOLIDATED INCOME STATEMENTS (Unaudited; Amounts in thousands, except per share data) Three Months Ended September 30, 2009 2008 % Change ---------- ---------- -------- REVENUES $1,897,733 $1,812,156 4.7 Cost of products sold 911,911 880,372 3.6 Selling and administrative 432,477 432,399 0.0 Research and development 113,737 108,463 4.9 ------------------------ ------- ------- ---- TOTAL OPERATING COSTS AND EXPENSES 1,458,125 1,421,234 2.6 ----------------- --------- --------- ---- OPERATING INCOME 439,608 390,922 12.5 Interest income 14,418 6,879 NM Interest expense (13,782) (8,889) 55.0 Other expense, net (3,312) (1,734) NM ------------------ ------ ------ ---- INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 436,932 387,178 12.9 Income tax provision 131,175 108,216 21.2 -------------------- ------- ------- ---- INCOME FROM CONTINUING OPERATIONS 305,757 278,962 9.6 INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX PROVISION OF $3,334 AND $1,222, RESPECTIVELY 11,463 3,212 NM ------------------ ------ ----- ---- NET INCOME $317,220 $282,174 12.4 ---------- -------- -------- ---- EARNINGS PER SHARE Basic: Income from continuing operations $1.28 $1.14 12.3 Income from discontinued operations $0.05 $0.01 NM Net income (1) $1.33 $1.16 14.7 Diluted: Income from continuing operations $1.25 $1.11 12.6 Income from discontinued operations $0.05 $0.01 NM Net income (1) $1.29 $1.12 15.2 AVERAGE SHARES OUTSTANDING Basic 239,162 243,863 Diluted 245,056 251,197 ------------ ------- ------- NM - Not Meaningful (1) Total per share amounts may not add due to rounding BECTON DICKINSON AND COMPANY CONSOLIDATED INCOME STATEMENTS (Unaudited; Amounts in thousands, except per share data) Twelve Months Ended September 30, 2009 2008 % Change ---------- ---------- -------- REVENUES $7,160,874 $7,074,942 1.2 Cost of products sold 3,397,598 3,446,838 (1.4) Selling and administrative 1,704,795 1,695,610 0.5 Research and development 408,128 395,631 3.2 ------------------------ ------- ------- ---- TOTAL OPERATING COSTS AND EXPENSES 5,510,521 5,538,079 (0.5) ----------------- --------- --------- ---- OPERATING INCOME 1,650,353 1,536,863 7.4 Interest income 33,148 39,368 (15.8) Interest expense (40,389) (36,343) 11.1 Other expense, net (3,850) (1,484) NM ------------------ ------ ------ ---- INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 1,639,262 1,538,404 6.6 Income tax provision 426,208 422,537 0.9 -------------------- ------- ------- ---- INCOME FROM CONTINUING OPERATIONS 1,213,054 1,115,867 8.7 INCOME FROM DISCONTINUED OPERATIONS NET OF INCOME TAX PROVISION OF $5,014 AND $2,585, RESPECTIVELY 18,549 11,129 NM ------------------------- ------ ------ ---- NET INCOME $1,231,603 $1,126,996 9.3 ---------- ---------- ---------- ---- EARNINGS PER SHARE Basic: Income from continuing operations $5.04 $4.57 10.3 Income from discontinued operations $0.08 $0.05 NM Net income (1) $5.12 $4.61 11.1 Diluted: Income from continuing operations $4.92 $4.42 11.3 Income from discontinued operations $0.08 $0.04 NM Net income (1) $4.99 $4.46 11.9 AVERAGE SHARES OUTSTANDING Basic 240,479 244,323 Diluted 246,798 252,681 ------- ------- ------- NM - Not Meaningful (1) Total per share amounts may not add due to rounding BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY SEGMENT AND GEOGRAPHIC AREA (Unaudited; Amounts in thousands) Three Months Ended September 30, 2009 2008 % Change -------- ---------- -------- BD MEDICAL ---------- United States $410,925 $374,487 9.7 International 594,573 555,109 7.1 ---------------- ------- ------- --- TOTAL $1,005,498 $929,596 8.2 ----- ---------- -------- --- BD DIAGNOSTICS -------------- United States $305,488 $281,148 8.7 International 274,521 271,918 1.0 ---------------- ------- ------- --- TOTAL $580,009 $553,066 4.9 ----- -------- -------- --- BD BIOSCIENCES -------------- United States $123,225 $136,749 (9.9) International 189,001 192,745 (1.9) ---------------- ------- ------- ---- TOTAL $312,226 $329,494 (5.2) ----- -------- -------- ---- TOTAL REVENUES -------------- United States $839,638 $792,384 6.0 International 1,058,095 1,019,772 3.8 ---------------- --------- --------- --- TOTAL $1,897,733 $1,812,156 4.7 ----- ---------- ---------- --- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY SEGMENT AND GEOGRAPHIC AREA (Unaudited; Amounts in thousands) Twelve Months Ended September 30, 2009 2008 % Change ---------- ---------- -------- BD MEDICAL ---------- United States $1,577,986 $1,524,204 3.5 International 2,152,860 2,195,831 (2.0) ---------------- --------- --------- ---- TOTAL $3,730,846 $3,720,035 0.3 ----- ---------- ---------- --- BD DIAGNOSTICS -------------- United States $1,177,543 $1,121,843 5.0 International 1,048,676 1,037,968 1.0 ---------------- --------- --------- --- TOTAL $2,226,219 $2,159,811 3.1 ----- ---------- ---------- --- BD BIOSCIENCES -------------- United States $449,151 $470,641 (4.6) International 754,658 724,455 4.2 ---------------- ------- ------- --- TOTAL $1,203,809 $1,195,096 0.7 ----- ---------- ---------- --- TOTAL REVENUES -------------- United States $3,204,680 $3,116,688 2.8 International 3,956,194 3,958,254 (0.1) ---------------- --------- --------- ---- TOTAL $7,160,874 $7,074,942 1.2 ----- ---------- ---------- --- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY BUSINESS SEGMENTS AND UNITS Three Months Ended September 30, (Unaudited; Amounts in thousands) United States ---------------------------- 2009 2008 % Change -------- -------- ---------- BD MEDICAL ---------- Medical Surgical Systems $267,070 $248,111 7.6 Diabetes Care 88,590 82,445 7.5 Pharmaceutical Systems 48,353 37,512 28.9 Ophthalmic Systems 6,912 6,419 7.7 --------------------- ----- ----- --- TOTAL $410,925 $374,487 9.7 ----- -------- -------- --- BD DIAGNOSTICS -------------- Preanalytical Systems $156,328 $145,987 7.1 Diagnostic Systems 149,160 135,161 10.4 --------------------- ------- ------- ---- TOTAL $305,488 $281,148 8.7 ----- -------- -------- --- BD BIOSCIENCES -------------- Cell Analysis $84,179 $98,883 (14.9) Discovery Labware 39,046 37,866 3.1 -------------------- ------ ------ --- TOTAL $123,225 $136,749 (9.9) ----- -------- -------- ---- TOTAL UNITED STATES $839,638 $792,384 6.0 ------------------- -------- -------- --- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY BUSINESS SEGMENTS AND UNITS Three Months Ended September 30, (continued) (Unaudited; Amounts in thousands) International ----------------------------------------------------- % Change --------------------------------- 2009 2008 Reported FX Neutral FX Impact -------- -------- ---------- ---------- --------- BD MEDICAL ---------- Medical Surgical Systems $265,904 $261,190 1.8 11.0 (9.2) Diabetes Care 92,098 92,593 (0.5) 5.1 (5.6) Pharmaceutical Systems 224,195 188,773 18.8 26.7 (7.9) Ophthalmic Systems 12,376 12,553 (1.4) 5.4 (6.8) ------------- ------ ------ ---- --- ---- TOTAL $594,573 $555,109 7.1 15.2 (8.1) ----- -------- -------- --- ---- ---- BD DIAGNOSTICS -------------- Preanalytical Systems $138,297 $141,119 (2.0) 5.5 (7.5) Diagnostic Systems 136,224 130,799 4.1 8.7 (4.6) ------------- ------- ------- --- --- ---- TOTAL $274,521 $271,918 1.0 7.0 (6.0) ----- -------- -------- --- --- ---- BD BIOSCIENCES -------------- Cell Analysis $150,055 $154,719 (3.0) (0.3) (2.7) Discovery Labware 38,946 38,026 2.4 3.4 (1.0) ------------ ------ ------ --- --- ---- TOTAL $189,001 $192,745 (1.9) 0.4 (2.3) ----- -------- -------- ---- --- ---- TOTAL INTERNATIONAL $1,058,095 $1,019,772 3.8 10.2 (6.4) -------------- ---------- ---------- --- ---- ---- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY BUSINESS SEGMENTS AND UNITS Three Months Ended September 30, (continued) (Unaudited; Amounts in thousands) Total ----------------------------------------------------- % Change --------------------------------- 2009 2008 Reported FX Neutral FX Impact -------- -------- ---------- ---------- --------- BD MEDICAL ----------- Medical Surgical Systems $532,974 $509,301 4.6 9.3 (4.7) Diabetes Care 180,688 175,038 3.2 6.2 (3.0) Pharmaceutical Systems 272,548 226,285 20.4 27.1 (6.7) Ophthalmic Systems 19,288 18,972 1.7 6.2 (4.5) ------------- ------ ------ --- --- ---- TOTAL $1,005,498 $929,596 8.2 13.0 (4.8) ----- ---------- -------- --- ---- ---- BD DIAGNOSTICS -------------- Preanalytical Systems $294,625 $287,106 2.6 6.3 (3.7) Diagnostic Systems 285,384 265,960 7.3 9.5 (2.2) ------------- ------- ------- --- --- ---- TOTAL $580,009 $553,066 4.9 7.8 (2.9) ----- -------- -------- --- --- ---- BD BIOSCIENCES -------------- Cell Analysis $234,234 $253,602 (7.6) (6.0) (1.6) Discovery Labware 77,992 75,892 2.8 3.3 (0.5) ------------ ------ ------ --- --- ---- TOTAL $312,226 $329,494 (5.2) (3.8) (1.4) ----- -------- -------- ---- ---- ---- TOTAL REVENUES $1,897,733 $1,812,156 4.7 8.4 (3.7) -------------- ---------- ---------- --- --- ---- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY BUSINESS SEGMENTS AND UNITS Twelve Months Ended September 30, (Unaudited; Amounts in thousands) United States -------------------------------- 2009 2008 % Change ---------- --------- --------- BD MEDICAL ---------- Medical Surgical Systems $1,021,846 $977,262 4.6 Diabetes Care 351,618 332,545 5.7 Pharmaceutical Systems 177,529 189,394 (6.3) Ophthalmic Systems 26,993 25,003 8.0 --------------------- ------ ------ --- TOTAL $1,577,986 $1,524,204 3.5 ----- ---------- ---------- --- BD DIAGNOSTICS -------------- Preanalytical Systems $608,754 $574,378 6.0 Diagnostic Systems 568,789 547,465 3.9 --------------------- ------- ------- --- TOTAL $1,177,543 $1,121,843 5.0 ----- ---------- ---------- --- BD BIOSCIENCES -------------- Cell Analysis $303,846 $324,698 (6.4) Discovery Labware 145,305 145,943 (0.4) -------------------- ------- ------- ---- TOTAL $449,151 $470,641 (4.6) ----- -------- -------- ---- TOTAL UNITED STATES $3,204,680 $3,116,688 2.8 ------------------- ---------- ---------- --- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY BUSINESS SEGMENTS AND UNITS Twelve Months Ended September 30, (continued) (Unaudited; Amounts in thousands) International ------------------------------------------------ % Change -------------------------------- 2009 2008 Reported FX Neutral FX Impact ---- ---- ---------- ---------- --------- BD MEDICAL ---------- Medical Surgical Systems $963,083 $1,027,592 (6.3) 4.5 (10.8) Diabetes Care 363,319 361,807 0.4 7.9 (7.5) Pharmaceutical Systems 774,914 752,742 2.9 10.9 (8.0) Ophthalmic Systems 51,544 53,690 (4.0) 4.1 (8.1) ------------- ------ ------ ---- --- ---- TOTAL $2,152,860 $2,195,831 (2.0) 7.2 (9.2) ----- ---------- ---------- ---- --- ---- BD DIAGNOSTICS -------------- Preanalytical Systems $534,677 $549,150 (2.6) 6.8 (9.4) Diagnostic Systems 513,999 488,818 5.2 11.2 (6.0) ------------- ------- ------- --- ---- ---- TOTAL $1,048,676 $1,037,968 1.0 8.9 (7.9) ----- ---------- ---------- --- --- ---- BD BIOSCIENCES -------------- Cell Analysis $600,671 $575,813 4.3 5.9 (1.6) Discovery Labware 153,987 148,642 3.6 4.2 (0.6) ------------ ------- ------- --- --- ---- TOTAL $754,658 $724,455 4.2 5.5 (1.3) ----- -------- -------- --- --- ---- TOTAL INTERNATIONAL $3,956,194 $3,958,254 (0.1) 7.4 (7.5) -------------- ---------- ---------- ---- --- ---- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION REVENUES BY BUSINESS SEGMENTS AND UNITS Twelve Months Ended September 30, (continued) (Unaudited; Amounts in thousands) Total ------------------------------------------------- % Change -------------------------- FX FX 2009 2008 Reported Neutral Impact ---------- ---------- -------- ------ ------ BD MEDICAL ----------- Medical Surgical Systems $1,984,929 $2,004,854 (1.0) 4.5 (5.5) Diabetes Care 714,937 694,352 3.0 6.8 (3.8) Pharmaceutical Systems 952,443 942,136 1.1 7.4 (6.3) Ophthalmic Systems 78,537 78,693 (0.2) 5.3 (5.5) ------------- ------ ------ ---- --- ----- TOTAL $3,730,846 $3,720,035 0.3 5.7 (5.4) ----- ---------- ---------- --- --- ----- BD DIAGNOSTICS -------------- Preanalytical Systems $1,143,431 $1,123,528 1.8 6.4 (4.6) Diagnostic Systems 1,082,788 1,036,283 4.5 7.4 (2.9) ------------- --------- --------- --- --- ----- TOTAL $2,226,219 $2,159,811 3.1 6.8 (3.7) ----- ---------- ---------- --- --- ----- BD BIOSCIENCES -------------- Cell Analysis $904,517 $900,511 0.4 1.4 (1.0) Discovery Labware 299,292 294,585 1.6 1.9 (0.3) ------------ ------- ------- --- --- ----- TOTAL $1,203,809 $1,195,096 0.7 1.5 (0.8) ----- ---------- ---------- --- --- ----- TOTAL REVENUES $7,160,874 $7,074,942 1.2 5.4 (4.2) -------------- ---------- ---------- --- --- ----- BECTON DICKINSON AND COMPANY SUPPLEMENTAL REVENUE INFORMATION SAFETY REVENUES (Unaudited; Amounts in thousands) Three Months Ended September 30, ------------------------------------------------- % Change ------------------------------- 2009 2008 Reported FX Neutral FX Impact -------- -------- ---------- ---------- --------- TOTAL SAFETY REVENUES --------------------- United States $282,286 $261,007 8.2 8.2 - International 150,906 143,258 5.3 13.5 (8.2) ---------------- ------- ------- --- ---- ---- TOTAL $433,192 $404,265 7.2 10.0 (2.8) ----- -------- -------- --- ---- ---- BY SEGMENT: ----------- BD Medical $211,049 $191,813 10.0 12.1 (2.1) BD Diagnostics 222,143 212,452 4.6 8.1 (3.5) ----------------- ------- ------- --- --- ---- TOTAL $433,192 $404,265 7.2 10.0 (2.8) ----- -------- -------- --- ---- ---- Twelve Months Ended September 30, ----------------------------------------------- % Change ------------------------------- 2009 2008 Reported FX Neutral FX Impact --------- ---------- --------- ---------- --------- TOTAL SAFETY REVENUES --------------------- United States $1,079,000 $1,035,615 4.2 4.2 - International 570,674 534,055 6.9 17.3 (10.4) ---------------- ------- ------- --- ---- ----- TOTAL $1,649,674 $1,569,670 5.1 8.6 (3.5) ----- ---------- ---------- --- --- ---- BY SEGMENT: ----------- BD Medical $786,033 $748,722 5.0 7.7 (2.7) BD Diagnostics 863,641 820,948 5.2 9.5 (4.3) -------------- ------- ------- --- --- ---- TOTAL $1,649,674 $1,569,670 5.1 8.6 (3.5) ----- ---------- ---------- --- --- ----

BD (Becton, Dickinson and Company)

CONTACT: Patricia A. Spinella, Investor Relations, +1-201-847-5453, or
Colleen T. White, Corporate Communications, +1-201-847-5369, both of BD

Web Site: http://www.bd.com/

Digital China Software and SJI Will Form a Strategic Partnership to Jointly Develop Businesses in China and Japan

HONG KONG, Nov. 4 /PRNewswire-Asia/ -- Digital China Holdings Limited ("Digital China" or the "Group"; Stock Code: 00861.HK), a leading IT services provider in China, announced that its non-wholly owned subsidiary Digital China Software (BVI) Limited ("Digital China Software") and King Tech Service HK Limited ("King Tech"), in which the Group owns a 16.1% interest, will acquire 23.65% and 6.96% equity interest respectively in the Japan-listed IT company SJI within this year. The consideration for the transaction is JPY 2,805 million (equivalent to about HK$242 million). Moreover, both companies will acquire SJI share options which will allow Digital China Software and King Tech to raise their equity interests in SJI to 30.81% and 10.07% respectively from 16 June 2010 to 25 December 2011. When the share options are fully converted into SJI shares, Digital China Software has to pay the amount of JPY1,665 million (equivalent to about HK$144 million) for the equity interest. Meanwhile, Digital China Software agreed to transfer the entire interest of its stake in DGT Information Systems Limited ("DGT Information Systems") to a wholly-owned subsidiary of SJI. The consideration for the transfer of DGT Information Systems has not been determined yet.

"The Group has a long history of cooperation with SJI. The strengthening of our cooperation will create a win-win situation to both parties. The Group and SJI agreed in principle that we will share specialties and intellectual property, technology, human resources and sales network with each other to jointly expand businesses in China and Japan. The Group believes that the cooperation with SJI will contribute to its development of IT operations in Japan and further enhance its outsourcing business and management capability," said Mr. Guo Wei, Chairman and Chief Executive Officer of Digital China.

SJI Inc. is a company established in Japan and listed on the JASDAQ Securities Exchange, Inc. (Stock Code: 2315). From the company's corporate website, for the financial year ended 31 March 2009, SJI reported sales of approximately JPY25.8 billion (equivalent to about HK$2.21 billion). As of 31 March 2009, its total assets amounted to JPY20.5 billion (equivalent to about HK$1.76 billion) and its net assets were JPY9.2 billion (equivalent to about HK$790 million).

About Digital China

Digital China Holdings Limited ("Digital China" or the "Group"; Stock Code: 00861.HK) is the largest IT services provider in China. Headquartered in Beijing, Digital China has regional centres in 19 major cities nationwide with 8,300 employees. The Group provides customers with comprehensive IT products and services, driving technological innovations for work and life and enhancing the digitalization process in China with four core businesses: IT Services, Enterprise Systems, IT Products Distribution and Supply Chain Services. The Group has maintained its No. 1 position in IT product distribution while it has increasingly focused on expanding into IT services. Digital China remains one of the top five IT services providers across various sectors in China including telecommunication, finance and government, by providing self-developed and proprietary products that are customized for specific industry needs.

For additional information about Digital China, please visit the Company's website at http://www.digitalchina.com.hk/ .

For investor and media inquiries: Wycee Liu Digital China Holdings Limited Tel: +852-3416-8089 Email: liuyqa@digitalchina.com Winnie Wang Digital China Holdings Limited Tel: +852-3416-8090 Email: wangminh@digitalchina.com Vivian Shi Digital China Holdings Limited Tel: +852-3416-8076 Email: vivianshi@digitalchina.com Henry Chik PRChina Tel: +852-2522-1368 Email: hchik@prchina.com.hk David Shiu PRChina Tel: +852-2522-1838 Email: dshiu@prchina.com.hk Eric Song PRChina Tel: +852-2522-1368 Email: esong@prchina.com.hk

Digital China Holdings Limited

CONTACT: Wycee Liu, +852-3416-8089, liuyqa@digitalchina.com, or Winnie
Wang, +852-3416-8090, wangminh@digitalchina.com, or Vivian Shi, +852-3416-8076,
vivianshi@digitalchina.com, all of Digital China Holdings Limited; or Henry
Chik, +852-2522-1368, hchik@prchina.com.hk, or David Shiu, +852-2522-1838,
dshiu@prchina.com.hk, or Eric Song, +852-2522-1368, esong@prchina.com.hk, all
of PRChina for Digital China Holdings Limited

Web site: http://www.digitalchina.com.hk/

Sino-Forest to host Third Quarter 2009 Earnings Call on November 12, 2009

TORONTO, Nov. 4 /PRNewswire-FirstCall/ -- Sino-Forest Corporation (TSX: TRE) will host its third quarter 2009 earnings conference call and live webcast on Thursday, November 12 at 8:30 am EST.

A full copy of the company's earnings release, financial statements and management's discussion and analysis will be released and posted on the company's website under "Investor Relations - Earnings Releases" http://www.sinoforest.com/earningsreleases.asp or filed with SEDAR at http://www.sedar.com/.

The timing of the earnings release and conference call details are as follows:

NORTH AMERICA ASIA (Eastern (Hong Kong Time Zone) Time Zone) ------------------------------------------------------------------------- Release of earnings and (Thursday) (Thursday) powerpoint presentation: November 12 November 12 - before - before http://www.sinoforest.com/earningsreleases.asp 7:00 am EST 8:00 pm HKT Note: The MD&A will subsequently be posted on our website once filed with SEDAR ------------------------------------------------------------------------- Conference call date & time: November 12 November 12 - 8:30 am EST - 9:30 pm HKT Dial-in numbers Tel: Tel: (no passcode required) 416-644-3428 +1-416-644-3428 Toll-free: 800-732-6179 ------------------------------------------------------------------------- For webcast access and replay:

For live webcast in a listen-only mode, go to Sino-Forest's website at http://www.sinoforest.com/, under "Earnings Release", or go directly to http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=2881340. Alternatively, dial 416-640-1917 (Toll-Free: 877-289-8525), and enter passcode 4181685 followed by the number sign for replay. Replay of the conference call will be available for 10 days.

Sino-Forest Corporation is a leading commercial forest plantation operator in China. Its principal businesses include the ownership and management of forest plantation trees and sales of standing timber, wood logs, and complementary manufacturing of downstream engineered-wood products. The Corporation's common shares have traded on the Toronto Stock Exchange under the symbol TRE since 1995.

Sino-Forest Corporation

CONTACT: please contact Sino-Forest: Hong Kong, Louisa Wong, Senior
Manager, Investor Communications & Relations, Tel: +852-2514-2109 Email:
louisa-wong@sinoforest.com

NetSuite OneWorld Named Enterprise Accounting Software of the Year by UK-Based Customers

LONDON and SAN MATEO, California, November 4 /PRNewswire/ --

NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites and top ten ERP vendor (as calculated by Gartner Dataquest), today announced that its UK-based customers have voted NetSuite OneWorld as the Enterprise Accounting Software of the year in Sift Media's Software Satisfaction Awards 2009. NetSuite received the award at a ceremony held recently in London. The win continues NetSuite's success in the Software Satisfaction Awards, following two Customer Relationship Management (CRM) awards that were received in the 2008 ceremony. For more information about NetSuite's awards, please visit www.netsuite.com/awards.

"UK customers have chosen NetSuite as the best enterprise accounting software package on the market," said Zach Nelson, CEO of NetSuite. "The award is a fantastic accolade and testament to our work on the OneWorld product. We'd like to extend our thanks to our UK customers for their continued recognition and support."

NetSuite OneWorld is the first and only on-demand system to deliver real-time global business management and financial consolidation to mid-sized enterprises with multinational and multi-subsidiary operations. It allows companies to manage multiple subsidiaries, business units and legal entities all from a single NetSuite account. NetSuite OneWorld seamlessly handles different currencies, taxation rules, and reporting requirements - at a fraction of the cost of traditional on-premise Enterprise Resource Planning (ERP) solutions. In addition, NetSuite OneWorld has been accredited by the Institute of Chartered Accountants in England & Wales (ICAEW), and was also the first Software as a Service (SaaS) ERP solution to be accredited by the German Institute of Auditors. These certifications demonstrate the depth of functionality of NetSuite OneWorld and its fulfillment of all the ICAEW's and German Institute of Auditors' criteria for financial and accounting software.

Sift Media's Software Satisfaction Awards were set up in 2006 to reward high standards from business software application vendors serving the UK. The awards are based on the views of genuine buyers and end-users of business software applications, rather than those of a judging panel. This year over 8,100 votes were cast across all categories, with participants evaluating products against four criteria: ease of use, functionality, reliability and value for money.

For more information on the Software Satisfaction Awards, please visit http://www.softwaresatisfaction.co.uk.

For more information about NetSuite, please visit www.netsuite.com.

NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090924/SF81218LOGO-b)

NetSuite Inc.

Mei Li of NetSuite Inc., +1-650-627-1063, meili@netsuite.com; or Patrick Yiu of Brands2Life, +44-207-592-1200, netsuite@brands2life.com, for NetSuite Inc.

NetSuite OneWorld Named Enterprise Accounting Software of the Year by UK-Based Customers

LONDON and SAN MATEO, Calif., Nov. 4 /PRNewswire-FirstCall/ -- NetSuite Inc. , a leading vendor of cloud computing business management software suites and top ten ERP vendor (as calculated by Gartner Dataquest), today announced that its UK-based customers have voted NetSuite OneWorld as the Enterprise Accounting Software of the year in Sift Media's Software Satisfaction Awards 2009. NetSuite received the award at a ceremony held recently in London. The win continues NetSuite's success in the Software Satisfaction Awards, following two Customer Relationship Management (CRM) awards that were received in the 2008 ceremony. For more information about NetSuite's awards, please visit http://www.netsuite.com/awards.

For more information on the Software Satisfaction Awards, please visit http://www.softwaresatisfaction.co.uk/.

For more information about NetSuite, please visit http://www.netsuite.com/.

NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.

(Logo: http://www.newscom.com/cgi-bin/prnh/20090924/SF81218LOGO-b)

Photo: http://www.newscom.com/cgi-bin/prnh/20090924/SF81218LOGO-b
http://photoarchive.ap.org/
PRN Photo Desk photodesk@prnewswire.com NetSuite Inc.

CONTACT: Mei Li of NetSuite Inc., +1-650-627-1063, meili@netsuite.com;
or Patrick Yiu of Brands2Life, +44 207 592 1200, netsuite@brands2life.com, for
NetSuite Inc.

Web Site: http://www.netsuite.com/

Baker Hughes Announces Third Quarter Results

HOUSTON, Nov. 4 /PRNewswire/ -- Baker Hughes Incorporated today announced that net income for the third quarter 2009 was $55 million or $0.18 per diluted share compared to $429 million or $1.39 per diluted share for the third quarter 2008 and $87 million or $0.28 per diluted share for the second quarter 2009. Net income for the third quarter 2009 includes expenses of $38 million before tax ($0.08 per share) associated with reorganization, severance and acquisition costs, and an increase to our allowance for doubtful accounts.

As previously reported, net income for the second quarter 2009 included expenses of $54 million before tax ($0.13 per share) comprised of $16 million ($0.04 per share) associated with employee severance and reorganization costs and $38 million ($0.09 per share) associated with increasing our allowance for doubtful accounts.

Revenue for the third quarter 2009 was $2.23 billion, down 26% compared to $3.01 billion for the third quarter 2008 and down 4% compared to $2.34 billion for the second quarter 2009.

Chad C. Deaton, Baker Hughes chairman, president and chief executive officer, said, "Third quarter North America operating margins rebounded from the low set in the second quarter of 2009. Aggressive cost cutting in the first half of 2009 enabled us to absorb additional price decreases and improve profitability on modest activity increases.

"International results were disappointing with revenue less than expected and price discounting greater than expected. Our operating profit margin was also impacted by the extra costs we are carrying to assure a smooth organizational transition we announced in May 2009. Given the progress we are making on this company transformation these additional costs should largely be behind us as we enter 2010.

"Looking forward, gas-directed drilling in North America is gradually increasing and we believe this trend will likely continue through 2010. Internationally, we believe that customer spending reached its low point this quarter and that forecasts for increasing economic growth, particularly in China, India and the Middle East, combined with modest spare production capacity are supporting higher oil prices and laying the foundation for increased spending in 2010.

"We are continuing to make good progress on the pending BJ Services transaction. Regulatory filings have been made in the US and in some international jurisdictions, and our preliminary proxy statement has been filed and is being reviewed by the SEC. We have received a 'second request' from the Department of Justice which is limited in product and geographical scope. As a result of the second request, we now project that the transaction will close in the first quarter of 2010.

"With the pending addition of BJ Services, we expect to significantly advance our competitiveness as we improve our customer intimacy, operational effectiveness, and product portfolio."

During the third quarter 2009, debt decreased $23 million to $1.81 billion and cash and short-term investments increased $125 million to $1.49 billion as compared to the second quarter 2009. Capital expenditures were $222 million, depreciation and amortization expense was $177 million and dividend payments were $47 million in the third quarter 2009.

Financial Information Consolidated Statements of Operations Three Months Ended UNAUDITED --------------------------------- (In millions, except per share amounts) September 30, June 30, ----------------- ---------- 2009 2008 2009 ------ ------ ------ Revenues: Sales $1,091 $1,446 $1,156 Services and rentals 1,141 1,564 1,180 -------------------- ----- ----- ----- Total revenues 2,232 3,010 2,336 -------------- ----- ----- ----- Costs and Expenses: Cost of sales 937 1,032 926 Cost of services and rentals 824 996 871 Research and engineering 88 103 102 Marketing, general and administrative 272 278 284 ------------------------------------- --- --- --- Total costs and expenses 2,121 2,409 2,183 ------------------------ ----- ----- ----- Operating income 111 601 153 Equity in income of affiliates - - - Interest expense (29) (21) (34) Interest and dividend income 1 10 3 ---------------------------- --- --- --- Income before income taxes 83 590 122 Income taxes (28) (161) (35) ------------ --- ---- --- Net income $55 $429 $87 ========== === ==== === Basic earnings per share $0.18 $1.40 $0.28 Diluted earnings per share $0.18 $1.39 $0.28 Weighted average shares outstanding, basic 310 307 310 Weighted average shares outstanding, diluted 311 308 310 Depreciation and amortization expense $177 $158 $182 Capital expenditures $222 $301 $291 Financial Information Consolidated Statements of Operations Nine Months Ended UNAUDITED September 30, --------------- (In millions, except per share amounts) 2009 2008 ---- ---- Revenues: Sales $3,558 $4,165 Services and rentals 3,678 4,513 -------------------- ----- ----- Total revenues 7,236 8,678 -------------- ----- ----- Costs and Expenses: Cost of sales 2,890 2,952 Cost of services and rentals 2,628 2,842 Research and engineering 299 312 Marketing, general and administrative 837 798 Litigation settlement - 62 --------------------- -- -- Total costs and expenses 6,654 6,966 ------------------------ ----- ----- Operating income 582 1,712 Equity in income of affiliates - 1 Gain on sale of product line - 28 Interest expense (98) (53) Interest and dividend income 5 22 ---------------------------- -- -- Income before income taxes 489 1,710 Income taxes (152) (507) ------------ ---- ---- Net income $337 $1,203 ========== ==== ====== Basic earnings per share $1.09 $3.91 Diluted earnings per share $1.09 $3.89 Weighted average shares outstanding, basic 310 308 Weighted average shares outstanding, diluted 310 309 Depreciation and amortization expense $532 $460 Capital expenditures $794 $840 Calculation of EBIT and EBITDA (non-GAAP measures)(1) UNAUDITED Three Months Ended ----------------------------- September 30, June 30, ------------------ -------- 2009 2008 2009 ------ ------ ------- $83 $590 $122 Income before income taxes Interest expense 29 21 34 ---------------- -- -- -- Earnings before interest expense and taxes (EBIT) 112 611 156 Depreciation and amortization expense 177 158 182 ------------------------------------- --- --- --- Earnings before interest expense, taxes, depreciation and amortization (EBITDA) $289 $769 $338 ======================================= ==== ==== ====

(1) EBIT and EBITDA (as defined in the calculations above) are non-GAAP measurements. Management uses EBIT and EBITDA because it believes that such measurements are widely accepted financial indicators used by investors and analysts to analyze and compare companies on the basis of operating performance and that these measurements may be used by investors to make informed investment decisions.

Consolidated Balance Sheets (UNAUDITED September 30, December 31, In millions) 2009 2008 =========== ==== ==== ASSETS Current Assets: Cash and cash equivalents $1,487 $1,955 Accounts receivable, net 2,220 2,759 Inventories, net 1,967 2,021 Deferred income taxes 244 231 Other current assets 174 179 -------------------- --- --- Total current assets 6,092 7,145 -------------------- ----- ----- Property, plant and equipment, net 3,059 2,833 Goodwill 1,410 1,389 Intangible assets, net 199 198 Other assets 423 296 ------------ --- --- Total assets $11,183 $11,861 ============ ======= ======= LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $661 $888 Short-term borrowings and current portion of long-term debt 23 558 Accrued employee compensation 459 530 Income taxes payable 58 272 Other accrued liabilities 252 263 ------------------------- --- --- Total current liabilities 1,453 2,511 ------------------------- ----- ----- Long-term debt 1,783 1,775 Deferred income taxes and other tax liabilities 322 384 Liabilities for pensions and other postretirement benefits 376 317 Other liabilities 64 67 Stockholders' Equity: Common stock 310 309 Capital in excess of par value 811 745 Retained earnings 6,474 6,276 Accumulated other comprehensive loss (410) (523) ------------------------------------ ---- ---- Total stockholders' equity 7,185 6,807 -------------------------- ----- ----- Total liabilities and stockholders' equity $11,183 $11,861 =================================== ======= ======= Revenue, Profit Before Tax, and Profit Before Tax Operating Margin(1) (in millions) Three Months Ended ----------------------------------------- 9/30/2009 9/30/2008 6/30/2009 ------------- ------------ ----------- Segment Revenue Drilling and Evaluation $1,051 $1,558 $1,116 Completion and Production 1,181 1,452 1,220 ------------------------- ----- ----- ----- Oilfield Operations $2,232 $3,010 $2,336 =================== ====== ====== ====== Geographic Revenue North America $817 $1,312 $794 Latin America 265 285 276 Europe Africa Russia Caspian 666 874 743 Middle East Asia Pacific 484 539 523 ------------------------ --- --- --- Oilfield Operations $2,232 $3,010 $2,336 =================== ====== ====== ====== Segment Profit Before Tax(1) Drilling and Evaluation $41 $347 $73 Completion and Production 146 323 166 ------------------------- --- --- --- Oilfield Operations $187 $670 $239 =================== ==== ==== ==== Geographic Profit Before Tax(1) North America $39 $316 $3 Latin America 10 51 34 Europe Africa Russia Caspian 87 202 130 Middle East Asia Pacific 51 101 72 ------------------------ -- --- -- Oilfield Operations 187 670 239 ------------------- --- --- --- Corporate and Other Profit Before Tax(1) Interest expense (29) (21) (34) Interest and dividend income 1 10 3 Corporate and other (76) (69) (86) ------------------- --- --- --- Corporate, net interest and other (104) (80) (117) --------------------------- ---- --- ---- Total Profit Before Tax $83 $590 $122 ======================= === ==== ==== Profit Before Tax Operating Margin(1) Drilling and Evaluation 4% 22% 7% Completion and Production 12% 22% 14% Oilfield Operations 8% 22% 10% Profit Before Tax Operating Margin(1) North America 5% 24% 0% Latin America 4% 18% 12% Europe Africa Russia Caspian 13% 23% 17% Middle East Asia Pacific 11% 19% 14% Oilfield Operations 8% 22% 10%

(1) Profit before tax operating margin is a non-GAAP measure defined as profit before tax ("income before income taxes") divided by revenue. Management uses the profit before tax operating margin because it believes it is a widely accepted financial indicator used by investors and analysts to analyze and compare companies on the basis of operating performance and that this measurement may be used by investors to make informed investment decisions.

Expenses for Reorganization, Severance and Acquisition Costs, and Increases to Allowance for Doubtful Accounts Included in the Following(1)

This table reconciles "Revenue, Profit Before Tax, and Profit Before Tax Operating Margin" (table above) with "Revenue, Profit Before Tax, and Profit Before Tax Operating Margin Excluding Reorganization, Severance and Acquisition Costs, and Increases to Allowance for Doubtful Accounts" (table below)

(In millions) Three Months Ended ----------------------------------------- 9/30/2009 9/30/2008 6/30/2009 ============== ============= ============ Segment Expense Drilling and Evaluation $12 - $26 Completion and Production 17 - 25 ------------------------- --- --- --- Oilfield Operations $29 - $51 =================== === === === $ Geographic Expense North America $15 - $13 Latin America 3 - 23 Europe Africa Russia Caspian 3 - 10 Middle East Asia Pacific 8 - 5 ------------------------ --- --- --- Oilfield Operations $29 - $51 ------------------- --- --- --- Corporate Expense Corporate and other 9 - 3 ------------------- --- --- --- Total $38 - $54 ===== === === ===

(1) Charges associated with reorganization, severance and acquisition (associated with the pending merger with BJ Services) costs were approximately $33 million in the third quarter 2009 and approximately $16 million in the second quarter 2009. Charges associated with allowances for doubtful accounts were approximately $ 5 million in the third quarter 2009 and approximately $38 million in the second quarter 2009.

Revenue, Profit Before Tax, and Profit Before Tax Operating Margin(1) Excluding Reorganization, Severance and Acquisition Costs, and Increases to Allowance for Doubtful Accounts

The following table contains non-GAAP measures of segment profit before tax, geographic profit before tax, corporate and other profit before tax, and operating margins excluding expenses for, reorganization, severance and acquisition costs, and increases to allowance for doubtful accounts (see table above). Management uses this measure to isolate the results of certain operations and believes that this information may be useful to investors.

Three Months Ended ----------------------------------------- 9/30/2009 9/30/2008 6/30/2009 ------------- ------------- ----------- Segment Revenue Drilling and Evaluation $1,051 $1,558 $1,116 Completion and Production 1,181 1,452 1,220 ------------------------- ----- ----- ----- Oilfield Operations $2,232 $3,010 $2,336 =================== ====== ====== ====== Geographic Revenue North America $817 $1,312 $794 Latin America 265 285 276 Europe Africa Russia Caspian 666 874 743 Middle East Asia Pacific 484 539 523 ------------------------ --- --- --- Oilfield Operations $2,232 $3,010 $2,336 =================== ====== ====== ====== Segment Profit Before Tax Drilling and Evaluation $53 $347 $99 Completion and Production 163 323 191 ------------------------- --- --- --- Oilfield Operations $216 $670 $290 =================== ==== ==== ==== Geographic Profit Before Tax North America $54 $316 $16 Latin America 13 51 57 Europe Africa Russia Caspian 90 202 140 Middle East Asia Pacific 59 101 77 ------------------------ -- --- -- Oilfield Operations 216 670 290 ------------------- --- --- --- Corporate and Other Profit Before Tax Interest expense (29) (21) (34) Interest and dividend income 1 10 3 Corporate and other (67) (69) (83) ------------------- --- --- --- Corporate, net interest and other (95) (80) (114) --------------------------- --- --- ---- Total Profit Before Tax $121 $590 $176 ======================= ==== ==== ==== Profit Before Tax Operating Margin(1) Drilling and Evaluation 5% 22% 9% Completion and Production 14% 22% 16% Oilfield Operations 10% 22% 12% Profit Before Tax Operating Margin(1) North America 7% 24% 2% Latin America 5% 18% 21% Europe Africa Russia Caspian 14% 23% 19% Middle East Asia Pacific 12% 19% 15% Oilfield Operations 10% 22% 12%

Comparison of Revenue to Prior Periods Percent Increase (Decrease) for the Three Months Ended September 30, 2009 Compared to the ----------------------------------------------------- Three Months Ended Three Months Ended September 30, 2008 June 30, 2009 ------------------ ------------------ Segment Drilling and Evaluation (33%) (6%) Completion and Production (19%) (3%) Oilfield Operations (26%) (4%) Geographic North America (38%) 3% Latin America (7%) (4%) Europe Africa Russia Caspian (24%) (10%) Middle East Asia Pacific (10%) (7%) Oilfield Operations (26%) (4%) Operational Highlights North America

Revenue in North America reflected changes in the North America rig count which was down 52% year-over-year. The sequential quarterly improvement was primarily driven by a 13% increase in the North America rig count, where a strong seasonal rebound in Canada was partially offset by a 32% decrease in offshore drilling as offshore activity slowed during the Gulf of Mexico hurricane season.

The sequential improvement in profit before tax and profit before tax margins demonstrated the advantages of our early and aggressive cost cutting in the first half of 2009 which overcame incremental price discounting in the third quarter 2009.

During the quarter, and in collaboration with a major U.S. independent operator, our US Land geomarket team successfully installed the first 24-stage FracPoint(TM) EX open hole isolation completion system in the Williston Basin.

In addition, we launched our IntelliFrac(TM) service, an integration of our advanced micro-seismic services with state-of-the-art fracturing and production enhancement services from BJ Services. This combined offering of services enables operators to monitor fracture dimensions during stimulation treatments and allows real-time control of fracture operations.

Latin America

Revenue declined year-over-year as increased revenue from the Mexico / Central America geomarket was offset by reduced revenue from the Venezuela and Argentina / Bolivia / Chile geomarkets. Revenue declined sequentially primarily due to lower activity in the Venezuela geomarket. Operating profit margin in the third quarter was adversely impacted by incremental costs in the Mexico / Central America and Brazil geomarkets associated with start-up activity, and higher labor costs in the Argentina / Bolivia / Chile geomarket.

During the quarter we were awarded a contract for intelligent completions for the pre-salt Tupi field in Brazil valued in excess of $50 million.

In the Mexico/Central America geomarket, we operated on a record six rigs in the Alma marine integrated services project for PEMEX, and we completed the drilling phase of the first Alma well and started completion operations. In addition, we introduced FracPoint(TM) into the Mexico/Central America geomarket, and commenced operations on three ATG integrated contracts awarded by PEMEX to local integrated operations suppliers last quarter. Under these three contracts, Baker Hughes is providing individual product line well construction technologies and services as a subcontractor.

Also during the third quarter, our newly-deployed BEACON center for Mexico became fully operational, providing permanent real-time monitoring visibility of ongoing operations allowing Baker Hughes experts from around the world to provide support on operational and technical challenges as they arise.

Europe Africa Russia Caspian

Revenue declined year-over-year in all geomarkets with the exception of Angola, with the largest declines in the Russia, UK and Norway geomarkets. Sequentially, revenues declined as the increases in the Norway, Sub Sahara Africa, and Caspian geomarkets were more than offset by declines in the UK, Russia, Continental Europe, Angola and Libya geomarkets.

Baker Hughes drilled and completed the first well using our 9-5/8" steerable liner drilling system for a client in Norway. The system features INTEQ directional drilling systems, Hughes Christensen drill bits and Baker Oil Tools completion systems.

In Azerbaijan we were awarded a $300 million contract in the third quarter 2009 for directional drilling, formation evaluation and completion systems. Work is expected to commence in January 2010.

Middle East Asia Pacific

The year-over-year revenue decline in the region was in line with the decline in the rig count, with higher revenue from the Australasia and India/Southwest Asia geomarkets being offset by lower revenue from all other Middle East Asia Pacific geomarkets. Compared to the second quarter 2009, revenue increases in the India / Southwest Asia, Indonesia, and Australasia geomarkets were more than offset by reduced revenue in the North Asia, Egypt, Gulf and Southeast Asia geomarkets.

During the quarter we were awarded drilling, evaluation and completion contracts for a twelve well deepwater exploration program for a consortium of six major integrated oil companies operating in Indonesia.

In the Gulf geomarket, we achieved a new milestone in reservoir characterization, performing one of the largest ever onshore 3D Vertical Seismic Profiling jobs for a major National Oil Company.

Conference Call

The company has scheduled a conference call to discuss the results of today's earnings announcement. The call will begin at 8:30 a.m. Eastern time, 7:30 a.m. Central time, on Wednesday, November 4, 2009. To access the call, which is open to the public, please contact the conference call operator at (800) 374-2469, or (706) 634-7270 for international callers, 20 minutes prior to the scheduled start time, and ask for the "Baker Hughes Conference Call." A replay will be available through Wednesday, November 18, 2009. The number for the replay is (800) 642-1687, or (706) 645-9291 for international callers, and the access code is 33298674. The call and replay will also be web cast on http://www.bakerhughes.com/investor.

Forward-Looking Statements

This news release (and oral statements made regarding the subjects of this release, including on the conference call announced herein) contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, (each a "forward-looking statement"). The words "anticipate," "believe," "ensure," "expect," "if," "intend," "estimate," "project," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "would," "may," "probable," "likely," and similar expressions, and the negative thereof, are intended to identify forward-looking statements. There are many risks and uncertainties that could cause actual results to differ materially from our forward-looking statements. These forward-looking statements are also affected by the risk factors described in the company's Annual Report on Form 10-K for the year ended December 31, 2008; and those set forth from time to time in our other filings with the Securities and Exchange Commission ("SEC"). The documents are available through the company's website at http://www.bakerhughes.com/investor or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov/. We undertake no obligation to publicly update or revise any forward-looking statement.

Our expectations regarding our business outlook and business plans; the business plans of our customers; oil and natural gas market conditions; cost and availability of resources; economic, legal and regulatory conditions and other matters are only our forecasts regarding these matters.

These forecasts may be substantially different from actual results, which are affected by many risks including the following risk factors and the timing of any of those risk factors:

Baker Hughes - BJ Services pending merger - the ability to obtain regulatory approvals for the transaction and the approval of the merger agreement by the stockholders of both parties; the risk that the cost savings and any other synergies from the transaction may not be realized or take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; the ability to successfully integrate the businesses; unexpected costs or unexpected liabilities that may arise from the transaction, whether or not consummated; the inability to retain key personnel; continuation or deterioration of current market conditions; the outcome of pending litigation; future regulatory or legislative actions that could adversely affect the companies and the business plans of the customers of the respective parties.

Economic conditions - the impact of deteriorating worldwide economic conditions; the effect that declines in credit availability may have on worldwide economic growth and demand for hydrocarbons; the ability of our customers to finance their exploration and development plans; foreign currency exchange fluctuations and changes in the capital markets in locations where we operate; the condition of financial institutions and the debt, capital and equity markets in general, any impact on our ability to borrow to fund short-term cash requirements and retire long-term debt upon maturity as well as any impact on our customers' spending and ability to pay amounts owed to us; our ability to estimate the size of and changes in the worldwide oil and natural gas industry.

Oil and gas market conditions - the level of petroleum industry exploration, development and production expenditures; the price of, volatility in pricing of, and the demand for, crude oil and natural gas; drilling activity; excess productive capacity; crude and product inventories; LNG imports; seasonal and other adverse weather conditions that affect the demand for energy; severe weather conditions, such as hurricanes, that affect exploration and production activities; Organization of Petroleum Exporting Countries ("OPEC") policy and the adherence by OPEC nations to their OPEC production quotas.

Terrorism and geopolitical risks - war, military action, terrorist activities or extended period of international conflict, particularly involving any major petroleum-producing or consuming regions; labor disruptions, civil unrest or security conditions where we operate; expropriation of assets by governmental action.

Price, market share, contract terms, and customer payments - our ability to obtain market prices for our products and services; the effect of the level and sources of our profitability on our tax rate; the ability of our competitors to capture market share; our ability to retain or increase our market share; changes in our strategic direction; the integration of newly-acquired businesses; the effect of industry capacity relative to demand for the markets in which we participate; our ability to negotiate acceptable terms and conditions with our customers, especially national oil companies, successfully execute these contracts, and receive payment in accordance with the terms of our contracts with our customers; our ability to manage warranty claims and improve performance and quality; our ability to effectively manage our commercial agents.

Costs and availability of resources - our ability to manage the costs and availability of sufficient raw materials and components (especially steel alloys, chromium, copper, carbide, lead, nickel, titanium, beryllium, barite, synthetic and natural diamonds, chemicals, and electronic components); our ability to manage energy-related costs; our ability to manage compliancerelated costs; our ability to recruit, train and retain the skilled and diverse workforce necessary to meet our business needs and manage the associated costs; manufacturing capacity and subcontracting capacity at forecasted costs to meet our revenue goals; the availability of essential electronic components used in our products; the effect of competition, particularly our ability to introduce new technology on a forecasted schedule and at forecasted costs; potential impairment of long-lived assets; the accuracy of our estimates regarding our capital spending requirements; unanticipated changes in the levels of our capital expenditures; the need to replace any unanticipated losses in capital assets; the development of technology by us or our competitors that lowers overall finding and development costs; labor-related actions, including strikes, slowdowns and facility occupations.

Litigation and changes in laws or regulatory conditions - the potential for unexpected litigation or proceedings; the legislative, regulatory and business environment in the US and other countries in which we operate; costs and changes in processes and operations related to or resulting from the activities of the compliance monitor appointed to assess our Foreign Corrupt Practices Act policies and procedures in connection with previously reported settlements with the SEC and Department of Justice ("DOJ") as well as compliance with the terms of the settlements as well as any future agreements with the SEC, DOJ or other authority; outcome of government and legal proceedings as well as costs arising from compliance and ongoing or additional investigations in any of the countries where the company does business; new laws, regulations and policies that could have a significant impact on the future operations and conduct of all businesses; changes in export control laws or exchange control laws; restrictions on doing business in countries subject to sanctions; customs clearance procedures; changes in laws in countries identified by management for immediate focus; changes in accounting standards; changes in tax laws or tax rates in the jurisdictions in which we operate; resolution of tax assessments or audits by various tax authorities; and the ability to fully utilize our tax loss carry forwards and tax credits.

Environmental matters - unexpected, adverse outcomes or material increases in liability with respect to environmental remediation sites where we have been named as a potentially responsible party; the discovery of new environmental remediation sites; changes in environmental regulations; the discharge of hazardous materials or hydrocarbons into the environment.

Additional Information and Where to Find It

On October 14, 2009, Baker Hughes filed with the SEC a Registration Statement on Form S-4, which includes a joint proxy statement of Baker Hughes and BJ Services that also constitutes a prospectus of Baker Hughes regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS OF BAKER HUGHES AND BJ SERVICES ARE URGED TO CAREFULLY READ THE REGISTRATION STATEMENT FILED WITH THE SEC AND THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER MATERIALS FILED OR TO BE FILED WITH THE SEC REGARDING THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN, OR WILL CONTAIN, IMPORTANT INFORMATION REGARDING BAKER HUGHES, BJ SERVICES AND THE PROPOSED TRANSACTION. A definitive joint proxy statement/prospectus will be sent to security holders of Baker Hughes and BJ Services seeking their approval of the proposed transaction. Investors and security holders may obtain a free copy of the proxy statement/prospectus and other documents filed by Baker Hughes and BJ Services with the SEC at the SEC's web site at http://www.sec.gov/.

The joint proxy statement/prospectus and such other documents (relating to Baker Hughes) may also be obtained from Baker Hughes for free from Baker Hughes' web site at http://www.bakerhughes.com/investor or by directing a request to: Baker Hughes Incorporated, 2929 Allen Parkway, Suite 2100, Houston, TX 77019, Attention: Corporate Secretary, or by phone at (713) 439-8600.

The joint proxy statement/prospectus and such other documents (relating to BJ Services) may also be obtained from BJ Services for free from BJ Services' web site at http://www.bjservices.com/ or by directing a request to: BJ Services Company, P.O. Box 4442, Houston, Texas 77210-4442, Attention: Investor Relations, or by phone at (713) 462-4239.

Participants in the Solicitation

Baker Hughes, its directors, executive officers and certain members of management and employees may be considered "participants in the solicitation" of proxies from Baker Hughes' stockholders in connection with the proposed transaction. Information regarding such persons and a description of their interests in the proposed transaction are contained in the preliminary joint proxy statement/prospectus filed.

BJ Services, its directors, executive officers and certain members of management and employees may be considered "participants in the solicitation" of proxies from BJ Services' stockholders in connection with the proposed transaction. Information regarding such persons and a description of their interests in the proposed transaction are contained in the preliminary joint proxy statement/prospectus filed.

Baker Hughes provides reservoir consulting, drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

Contact: Gary R. Flaharty, +1.713.439.8039, gflaharty @ bakerhughes.com H. Gene Shiels, +1.713.439.8822, gene.shiels @ bakerhughes.com

Baker Hughes Incorporated

CONTACT: Gary R. Flaharty, +1-713-439-8039, gflaharty @ bakerhughes.com,
or H. Gene Shiels, +1-713-439-8822, gene.shiels @ bakerhughes.com, both of
Baker Hughes Incorporated

Web Site: http://www.bakerhughes.com/

IJZA Secures Electronic Files in the Youth Care Sector With DIGIPASS and IDENTIKEY

OAKBROOK TERRACE, Ill. and ZURICH, Nov. 4 /PRNewswire-FirstCall/ -- VASCO Data Security International, Inc. (http://www.vasco.com/), a leading software security company specializing in authentication products, today announced that the Dutch youth welfare organization IJZA secures its web application IJZA II with DIGIPASSÂ® and IDENTIKEYÂ®.

IJZA, a cooperative association founded on January 1st, 2006, developed, manages and hosts the web application "IJZA II". IJZA II is an online client registration program making youth care patients' files available over the internet. The application allows youth care professionals to create and build up an electronic file that follows and supports the client's welfare assistance program.

In order to guarantee the confidentiality of the sensitive information contained in the database, IJZA implemented VASCO's DIGIPASS technology together with IDENTIKEY back-end authentication technology to secure (remote) access to the application allowing youth care professionals to immediately update patient information regardless of location. Care providers log on with a one-time password generated by the DIGIPASS device to access patient information, reporting and payment modules.

"We opted for VASCO's DIGIPASS because the technology has already proven its trustworthiness," says Niels van Alphen, Infrastructure Manager at IJZA. "Because we gather a lot of sensitive and private information, it is of the utmost importance that the data contained in the database remains confidential at all times. To secure our patients' files, we decided to implement a 2-factor authentication solution without compromising on mobility and user friendliness. VASCO's solution proved to be the perfect answer to all our requirements with an unrivalled price-quality equation."

"DIGIPASS provides health and youth care provides with the flexibility and control to access patients' records from any computer with an internet connection," says Jan Valcke, President and COO of VASCO Data Security. "VASCO brings banking level security to health care organizations of all sizes to manage and support the flexible needs of their workforce while strengthening security and control over resources and sensitive patient information."

About IJZA

IJZA is a cooperative association founded on January 1st, 2006 and manages the client registration system IJZA II. IJZA II allows youth care professionals to build up an electronic file that follows and supports the client's welfare assistance program. The building bricks of IJZA II are the welfare assistance program, modular working plan and evaluations. IJZA II also provides different additional modules such as the foster care payment module and the module paramedic costs.

About VASCO:

VASCO is a leading supplier of strong authentication and e-signature solutions and services specializing in Internet Security applications and transactions. VASCO has positioned itself as global software company for Internet Security serving a customer base of over 9,000 companies in more than 100 countries, including almost 1,350 international financial institutions. VASCO's prime markets are the financial sector, enterprise security, e-commerce and e-government.

Forward Looking Statements:

Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "anticipates," "plans," "expects," "intend," "mean," and similar words, is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.

Reference is made to the VASCO's public filings with the U.S. Securities and Exchange Commission for further information regarding VASCO and its operations.

This document may contain trademarks of VASCO Data Security International, Inc. and its subsidiaries, including VASCO, the VASCO "V" design, DIGIPASS, VACMAN, aXsGUARD and IDENTIKEY.

For more information contact:

Jochem Binst, +32 2 609 97 00, jbinst@vasco.com

VASCO Data Security International, Inc.

CONTACT: Jochem Binst of VASCO Data Security International, Inc., +32 2
609 97 00, jbinst@vasco.com

Web Site: http://www.vasco.com/

Highland Spring LTD, (Royaume-Uni) sélectionne SaviTrak(TM), la solution de Savi Networks pour le suivi sans fil des marchandises

OCHIL HILLS, Ã‰cosse et MOUNTAIN VIEW, Californie, November 4 /PRNewswire/ --

- SaviTrak(TM) permet de gérer en temps réel la localisation, la sécurité et l'état des cargaisons d'eau biologique en bouteille oÃ¹ qu'elles soient dans le monde, afin que les consommateurs d'eau de Highland Spring bénéficient d'une expérience client toujours plus satisfaisante

Highland Spring LTD, récemment élue << supermarque >> au Royaume-Uni (juillet 2009), a signé un contrat avec Savi Networks en vue de la mise en place du suivi sans fil des cargaisons de bouteilles d'eau de Highland Spring à l'exportation.

(Logo : http://www.newscom.com/cgi-bin/prnh/20060109/NYM086LOGO)

Aux termes du contrat, Savi Networks fournit le service de renseignements SaviTrak(TM), qui permet de suivre en temps réel le parcours des produits exportés depuis le Royaume-Uni et destinés aux consommateurs extraterritoriaux du monde entier.

<< Grâce à ses produits de qualité, Highland Spring a toujours excellé en matière d'expérience client >> explique Yannis Karagounis, directeur de la distribution et de la planification des exports chez Highland Spring. << Qu'il s'agisse de notre engagement en faveur de la protection de nos terres en agriculture biologique ou de l'utilisation des technologies les plus récentes pour gérer la distribution de nos produits naturels auprès de nos clients lointains, notre principal souci est que nos clients, qu'ils habitent Hong Kong ou DubaÃ¯, bénéficient de la mÃªme qualité d'expérience client que les clients que nous fournissons au Royaume-Uni. >>

<< La valeur de notre marque et de notre nom est le fruit de l'engagement que nous prenons chaque jour : offrir des produits de qualité et une expérience client supérieure. SaviTrack nous permet d'améliorer la gestion et le pilotage de nos opérations logistiques afin de réduire les coÃ»ts et de nous assurer que la confiance que nous accordent nos clients continue de se mériter chaque jour et dans tous les moindres aspects de nos opérations >> a ajouté M. Karagounis.

Ã€ propos de Highland Spring

Highland Spring a commencé ses activités de mise en bouteille à Blackford en 1979, en tirant parti de la richesse géologique des sols d'Ochil Hills, constitués d'anciennes couches de basalte et de grès rouge, qui se sont formées il y a plus de 400 millions d'années et qui offrent une filtration géologique unique. C'est sur ce site exceptionnel que Highland Spring s'est établi pour produire une eau pure et naturelle. La première marque d'eau en bouteille se situant au Royaume-Uni, Highland Spring veille farouchement à ce que le bassin hydrologique reste 100 % biologique, en excluant toute utilisation de pesticides et d'autres substances polluantes. Pour plus d'informations sur Highland Spring, consultez le site sur : www.highland-spring.com.

Ã€ propos de Savi Networks

Savi Networks a été fondée afin de renforcer l'efficacité et la sécurité des opérations commerciales mondiales. SaviTrak(TM) est un service de renseignements qui utilise une technologie fiable de suivi sans fil des cargaisons destinée à donner aux expéditeurs, aux fournisseurs de services de logistique et aux opérateurs de terminal des renseignements facilement accessibles, pratique et utiles. Ces informations servent à repérer les problèmes de stock et de cargaison généraux et en temps réel afin de prendre les décisions appropriées. Savi Networks est une coentreprise entre Lockheed Martin (NYSE : LMT) et Hutchison Port Holdings. Pour plus d'informations sur Savi Networks, consultez le site sur : www.SaviNetworks.com.

Savi Networks

Mark Nelson de Savi Networks, +1-650-316-4872, mnelson@savinetworks.com, www.twitter.com/savigroup ou Allison Downs de 3x1 Public Relations, +44-141-221-0707, adowns@3x1.com, pour Highland Spring

Marks and Spencer - Chairman Interviewed on Half-Year Results

LONDON, November 4 /PRNewswire/ -- In a video interview on http://www.cantos.com, Stuart Rose, M&S Chairman, and Ian Dyson, Group Finance and Operations Director, give their views on the company's half year results, a period which saw M&S hold market share in General Merchandise and record an improved performance in Food.

Stuart Rose gives an insight into current trading and a belief that the company has sharpened its offer in the run up to the all-important Christmas trading period.

The interviews and transcripts are available now on http://www.cantos.com.

It's free to view. All you need to do is register at http://www.cantos.com. Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333.

Marks & Spencer Plc

If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333.

J.D. Power and Associates Reports: Amid High Energy Prices in the UK, Communication About Rate Changes and Cost-Saving Measures Is Critical to Satisfaction With Utility Suppliers

LONDON, November 4 /PRNewswire/ --

- Atlantic Ranks Highest among Electricity Suppliers in the UK, while EDF Ranks Highest among Gas Suppliers

With customer-reported gas and electricity rates reaching historically high levels in the UK, proactive communication to customers about price changes and managing their energy costs is particularly important to overall customer satisfaction with utility suppliers, according to the J.D. Power and Associates 2009 UK Electricity and Gas Supplier Customer Satisfaction Study(SM) released today.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050527/LAF028LOGO-a)

The study finds that monthly customer-reported bill amounts have increased notably in 2009, compared with 2008. Monthly electricity bills in 2009 average 50.34 pounds sterling-4 percent higher than in 2008. For gas customers, monthly bills in 2009 average 50.08 pounds sterling-an increase of 8 percent from 2008.

The study also finds that satisfaction with the supplier's price and value declines considerably among customers who indicate they are aware that their gas or electric company raised prices within the past 12 months, compared with the industry average. However, this decline in satisfaction may be mitigated if customers are informed in advance of rate increases by their supplier.

Comparison of price and value satisfaction based on advance notification of price increases by the supplier

(based on a 1,000-point scale)

Average Industry Average among Average among customers satisfaction average customers who are who were informed in with price and aware of price advance of price value increases increases by their supplier -------------- -------- ----------------- ---------------------- Electricity customers 489 470 511 ------------- --- --- --- Gas customers 490 457 500 ------------- --- --- ---

Despite the positive effect that advance notification of price increases by suppliers has upon satisfaction, only approximately one-half of customers report having received these advance notices. Among electricity customers who say their supplier increased prices within the past 12 months, 54 percent indicate that their supplier notified them in advance. A lower percentage of gas customers-48 percent-say the same.

In addition, among electricity customers who say they are aware of price reductions instituted by their supplier, satisfaction with price and value averages 522 on a 1,000-point scale, compared with 476 among customers who indicate no awareness. Among gas customers, satisfaction scores are 486 and 470, respectively.

"Due to current economic conditions and relatively high utility rates, suppliers that perform highly are perceived as being particularly helpful in assisting customers with finding the best price options and reducing their bills," said Gordon Shields, director of proprietary and service industries research at J.D. Power and Associates. "However, it is particularly notable that overall satisfaction with utility suppliers in the UK is considerably lower than that of other service industries, which indicates the need for additional improvement within the utility market."

The study, now in its 10th year, examines customer satisfaction with electricity and gas utility suppliers by examining six factors. For electricity suppliers, the factors are price and value; customer service; power quality and reliability; environmental responsibility; billing and payment; and meter reading. For gas suppliers, the factors are price and value; supply quality and reliability; customer service; environmental responsibility; billing and payment; and meter reading.

Electricity Supplier Rankings

Atlantic ranks highest among electricity suppliers with a score of 640, and performs particularly well in the customer service and price and value factors. Swalec (623) and EDF (618) follow Atlantic in the segment rankings. Swalec performs particularly well in the power quality and reliability factor, while EDF performs well in the environmental responsibility factor.

Gas Supplier Rankings

Among gas utility suppliers in the UK, EDF ranks highest with a score of 671 and performs particularly well in the price and value; environmental responsibility; and meter reading factors. Following in the rankings, in a tie, are Atlantic and Scottish Hydro (651 each). Atlantic performs particularly well in the customer service and billing and payment factors.

The study also finds that informing customers of their supplier's environmental responsibility efforts has a strong positive impact on satisfaction. Overall satisfaction averages more than 90 index points higher among customers who indicate they are aware of their supplier's efforts to improve their impact on the environment or their supplier's energy conservation plans, compared with customers who indicate they are not aware of their supplier's initiatives in these areas.

"It is encouraging that suppliers are becoming more active in communicating their 'green' credentials," said Shields. "In conjunction with awareness programmes targeted at households to reduce energy usage, these new green initiatives are likely to help improve satisfaction levels."

The study also finds that high satisfaction with a utility supplier fosters higher levels of customer commitment, which lead to higher levels of customer loyalty and advocacy. Among customers who say they are highly committed to their electricity provider, 79 percent say they "definitely will not" switch to another supplier, and 81 percent indicate they "definitely would" recommend their supplier. In contrast, among electric customers who say they have medium levels of commitment to their supplier, only 19 percent say they "definitely will not" switch and only 13 percent indicate they "definitely would" recommend their supplier.

Among gas customers who say they are highly committed to their supplier, 72 percent indicate they "definitely will not" switch to another gas supplier, compared with 20 percent of gas customers with medium commitment levels. Approximately 68 percent of highly committed gas customers say they "definitely would" recommend their supplier, compared with only 11 percent of customers with medium commitment.

The 2009 UK Electricity and Gas Supplier Customer Satisfaction Study is based on 2,845 responses from domestic electricity customers and 2,849 responses from domestic gas customers throughout the UK. The study was fielded in August 2009.

Overall Customer Satisfaction Electricity Suppliers J.D. Power.com Power Circle Ratings (Based on a 1,000-point scale) For Consumers Atlantic 640 5 Swalec 623 4 EDF 618 4 Scottish Hydro 609 4 Southern 597 3 E.ON 593 3 Industry Average 589 3 British Gas 587 3 ScottishPower 578 3 npower 551 2 Customer Satisfaction Component Weights Electricity Suppliers Price and Value 25% Customer service 20% Power quality and reliability 18% Environmental responsibility 16% Billing and payment 12% Meter reading 9% Gas Suppliers J.D. Power.com Power Circle Ratings (Based on a 1,000-point scale) For Consumers EDF 671 5 Atlantic 651 4 Scottish Hydro 651 4 Southern 638 4 Swalec 635 4 E.ON 623 4 Industry Average 613 3 ScottishPower 611 3 British Gas 602 3 npower 573 2 Customer Satisfaction Component Weights Gas Suppliers Price and Value 23% Supply quality and reliability 19% Environmental responsibility 18% Customer service 18% Billing and payment 12% Meter reading 10% Power Circle Ratings Legend: 5 - Among the best 4 - Better than most 3 - About average 2 - The rest

About J.D. Power and Associates

The European headquarters of J.D. Power and Associates is located in Guildford, UK. With world headquarters in Westlake Village, California, U.S.A., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. J.D Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, Platts, Capital IQ, J.D. Power and Associates, McGraw-Hill Construction and Aviation Week. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were US$6.4 billion. Additional information is available at www.mcgraw-hill.com.

J.D. Power and Associates Media Relations Contacts:

Ian Giles, Guildford, Surrey; England; +44-1483-207613; ian.giles@jdpa.com

John Tews; Troy, Mich.; USA; +1-248-312-4119; media.relations@jdpa.com

No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate.

J.D. Power and Associates

Ian Giles, Guildford, Surrey; England, +44-1483-207613; ian.giles@jdpa.com, or John Tews; Troy, Mich.; USA; +1-248-312-4119, media.relations@jdpa.com, both of J.D. Power and Associates

Marks and Spencer - Chairman Interviewed on Half-Year Results

LONDON, November 4 /PRNewswire-FirstCall/ -- In a video interview on http://www.cantos.com/, Stuart Rose, M&S Chairman, and Ian Dyson, Group Finance and Operations Director, give their views on the company's half year results, a period which saw M&S hold market share in General Merchandise and record an improved performance in Food.

Stuart Rose gives an insight into current trading and a belief that the company has sharpened its offer in the run up to the all-important Christmas trading period.

The interviews and transcripts are available now on http://www.cantos.com/.

It's free to view. All you need to do is register at http://www.cantos.com/. Cantos.com, the online financial broadcaster, features in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email enquiries@cantos.com or phone +44-207-936-1333.

Marks & Spencer Plc

CONTACT: If you would like to contact us, please email
enquiries@cantos.com or phone +44-207-936-1333.

Epson Introduces Two Ultra Short Throw Projectors Designed With K-12 Education in MindNetworkable PowerLite 450W and PowerLite 460 Offer Extremely Short Throw Projection, Versatile Mounting Options and Wireless Capabilities

LONG BEACH, Calif., Nov. 4 /PRNewswire/ -- Epson, the number-one selling projector brand worldwide(1), today unveiled its ultra short throw projectors - the Epson PowerLiteÂ® 450W and Epson PowerLite 460, providing educators with bright projection, versatile viewing dimensions and easy-to-install solutions that fit their budgets. Designed to meet the growing demand for wall-mounted projectors, these models include hardware for quick, easy and inexpensive installation. They are ideal for use with standard or interactive whiteboards as the ultra short throw distance significantly reduces shadow interference. The PowerLite 450W and 460 also include closed captioning, a 10W speaker, the ability to deliver presentations over the network, and optional wireless capabilities to help teachers effectively engage students in the large or small classroom.

Offering a strong blend of brightness and resolution, the PowerLite 450W ($1,499*) features 2,500 lumens white light output, 2,500 lumens color light output(2) and WXGA resolution (16:10 aspect ratio), fully leveraging widescreen notebooks or tablets, as well as widescreen DVD content. The PowerLite 460 ($1,699*) offers 3,000 lumens white light output, 3,000 lumens color light output and XGA resolution.

"Epson designed the PowerLite 450W and 460 as solutions for educators, knowing that the demand for ultra short throw projection is on the rise as classroom space decreases and whiteboard use increases," said Heather Litus Johnston, product manager, K-12 Education Projection, Epson America. "Epson's commitment to the education market inspires us to create solutions that meet educators' needs in any teaching scenario, and these models offer the high-quality features educators have come to expect from Epson in a new ultra short throw form factor that will greatly benefit teachers and students alike."

The PowerLite 450W and 460 also allow educators to deliver presentations over a school's wired (using RJ-45 connectivity) or wireless network (with optional 802.11 g/b/a module $99* or access point), giving teachers increased flexibility with their lesson delivery methods. With networked presentations, educators can teach remotely, include several classrooms in one lesson by showing the same content, or allow principals to deliver presentations to the entire school without students ever leaving the classroom.

Offering increased flexibility, Epson's new ultra short throw models can be mounted as close as 2.5 inches away from the wall to accommodate smaller classrooms or meeting rooms, and can easily be used with a standard or interactive whiteboard, projection screen or a simple white wall. These ultra short throw projectors can project a 60-inch diagonal image with the lens only 18 inches away. In addition, blocked interactive whiteboard sensors are virtually eliminated.

More about the PowerLite 450W and 460

The Epson PowerLite 450W and 460 offer extensive connectivity, display and convenience features for educators, including:

-- USB Plug 'n Play Instant Setup: Instantly projects images from a WindowsÂ® PC or Mac via a USB connection, allowing for easier set up and eliminating the hassle of dealing with bulky VGA cables and toggling between computer keys -- Microphone Input: Dedicated input allows teachers to use a microphone to amplify voice using the internal 10W speaker, saving the teacher's voice and ensuring all students can hear; volume can be adjusted using projector or remote control buttons -- Extended Lamp Life: Using Epson's exclusive E-TORL lamp technology, the lamp life can last up to 3,500 hours(3) in economy mode, and replacement E-TORL lamps can cost up to $200 less than competing replacement lamps -- Closed Captioning: Built-in closed captioning decoder makes presentations accessible to viewers with hearing impairments with no added cost, and helps meet section 508 compliance -- PC-Free Presentations: Offers convenient connectivity with USB memory devices such as a thumb drive for easily viewing and sharing jpeg pictures without a computer -- 3LCD Technology: Features the latest, 3LCD, 3-chip technology to deliver amazing, true-to-life color and detail for powerful presentations; 3LCD technology provides an energy efficient light engine which efficiently uses available lamp light to create stunning images; in contrast to 1-chip DLP technology, 3LCD requires, on average, 25 percent less electricity per lumen of brightness(4)

Epson also offers the Brighter FuturesÂ® program, a unique sales and support initiative that is available specifically for schools. Designed to help educators select and implement the best products for their classrooms while making the most of their budgets, Brighter Futures offers special pricing, extended Epson limited warranty coverage for three years, dedicated education account managers, and toll-free technical support for all Epson projectors.

Availability and Support

The Epson PowerLite 450W and Epson PowerLite 460 will be available in February 2010 through national resellers, pro audio/visual dealers, mail order, and distribution. Epson's PowerLite projectors come with a two-year limited warranty (three years for Brighter Futures customers) that includes two elite technical support services - two-year Epson PrivateLineÂ® phone support where projector owners can directly access an expedited support telephone line by using a phone card that is included with the product, and a two-year Road Service projector replacement program that includes projector exchange in one business day. For additional information about the new PowerLite projectors, visit http://www.epsonbrighterfutures.com/.

About Epson America Inc.

Epson America Inc. is the U.S. affiliate of Seiko Epson Corporation and a leading provider of digital imaging products that exceed the vision of its customers. The company's extensive range of printers, scanners and 3LCD projectors are renowned for their high quality, functionality, compactness, and energy efficiency. The Seiko Epson organization is proud of its ongoing contributions to the global environment and for the second year in a row is part of the Dow Jones Sustainability World Index, an indicator for leading companies in economic, environmental and social criteria.

(1) Based upon Q3 2009 worldwide front projection market share estimates from Pacific Media Associates

(2)Light output varies depending upon modes (color and white light output). White light output measured using ISO 21118 standard

(3)Lamp life will vary depending upon mode selected, environmental conditions and usage. Lamp Brightness decreases over time.

(4)Source: ProjectorCentral.com Jan 2009. Average of 796 shipping models for which the manufacturers provided lumens and total power data, all resolutions and brightness levels. Energy efficiency was measured as wattage per lumen. It was measured for both 3LCD and 1-chip projectors in six different lumens categories. 3LCD projectors averaged less required electricity per lumen in each of the six categories.

Note: Epson and E-TORL are registered trademarks and Epson Exceed Your Vision is a registered logomark of Seiko Epson Corporation. PowerLite is a registered trademark of Epson America Inc. All other product brand names are trademarks and/or registered trademarks of their respective companies. Epson disclaims any and all rights in these marks.

*All prices are estimated street price

Epson America Inc.

CONTACT: Duane Brozek of Epson America Inc., +1-562-290-5683,
Duane_Brozek@ea.epson.com; or Kati Elliott of KEH Communications,
+1-410-975-9638, kati@kehcomm.com, for Epson America Inc.

Web Site: http://www.epson.com/

Zebra Technologies Announces 2009 Third Quarter Financial ResultsStrong sequential increases in sales and earnings led by improved business in North America

LINCOLNSHIRE, Ill., Nov. 4 /PRNewswire-FirstCall/ -- Zebra Technologies Corporation today announced net sales of $200,778,000 for the quarter that ended October 3, 2009, compared with $244,073,000 for the corresponding period a year ago. Quarterly net income was $11,111,000, or $0.19 per diluted share, including $3,515,000 in exit, restructuring and integration costs which lowered diluted earnings by $0.04 per share. Net income for the third quarter of 2008 was $25,770,000, or $0.40 per diluted share, including a $0.04 per diluted share impact from exit, restructuring and integration costs.

"We are pleased to report better-than-expected sales and solid earnings performance for the third quarter," stated Anders Gustafsson, Zebra's chief executive officer. "These results were in large part driven by not only increasing demand for our products, but also our strategic commitment over the last year to continue investment in areas that strengthen Zebra's future. We reinforced our industry-leading position, maintained strong cash flows and began to realize the initial benefits from our outsourcing activities."

Mr. Gustafsson continued, "Around the world, as we continue to drive competitive advantage through innovation, more customers are turning to Zebra to help them improve business performance and supply chain execution with our industry-leading suite of specialty printing, RFID and other asset tracking solutions. Zebra will continue to capitalize on our strategic and financial strength as the business environment improves by investing in global expansion and other high-returning activities to deliver better customer service, improve operational efficiency, and build stockholder value."

At October 3, 2009, Zebra had $223,272,000 in cash and investments, and no long-term debt. Net inventories were $79,807,000, and net accounts receivable were $144,375,000.

Discussion and Analysis For the third quarter of 2009, compared with the third quarter of 2008: -- Net sales in all geographic regions were affected by lower economic activity, with relatively better sales performance in North America, which increased 13.2% from the second quarter of 2009. -- Lower overhead absorption because of reduced volumes and a less favorable product mix contributed to a decline in gross profit margin to 45.7% from 48.3% a year ago. These factors were partially offset by the benefit of outsourcing and higher gross profit margin in the company's Zebra Enterprise Solutions group. -- Operating expenses declined from cost-reduction actions, which reduced overall employee-related compensation, travel and entertainment expenses and project expenses, in addition to lower expenses for amortization of intangible assets and exit, restructuring and integration costs. These reductions were offset by increases in general and administrative expenses for consulting and benefit costs. In addition, operating expenses for the third quarter 2008 include a non-taxable $5,302,000 reduction in operating expenses for the settlement of Zebra's claim against the escrow for its acquisition of WhereNet Corp., and a $1,121,000 gain on the sale/leaseback of the company's facility in Camarillo, CA, recognized as a reduction in general and administrative expenses. -- Investment income totaled $901,000 for the third quarter of 2009, compared with an investment loss of $5,140,000, which included write-downs of $4,374,000 on securities and $2,897,000 on a long-term investment.

For the first nine months of 2009, net sales were $581,063,000, compared with $744,132,000. Net income for the year to-date was $29,474,000, or $0.49 per diluted share, including $9,455,000 in exit, restructuring and integration costs which lowered diluted earnings by $0.11 per share. For the same period a year ago, net income was $78,940,000, or $1.20 per diluted share, including $12,218,000 or $0.13 per diluted share in exit, restructuring and integration costs.

Stock Purchase Update

During the third quarter of 2009, the company repurchased 326,850 shares of Zebra Technologies Corporation Class A Common Stock. At the end of the third quarter, Zebra had 2,792,838 shares remaining in the company's stock buyback authorization and 58,832,620 shares of common stock outstanding.

Fourth Quarter Outlook

Zebra announced its financial forecast for the fourth quarter of 2009. Net sales are expected within a range of $200,000,000 and $212,000,000. Diluted earnings per share are expected within a range of $0.18 and $0.25. This forecast includes expected exit and restructuring costs of $0.03 per diluted share.

Conference Call Notification

Investors are invited to listen to a live Internet broadcast of Zebra's conference call discussing the company's financial results for the third quarter of 2009. The conference call will be held at 11:00 AM Eastern Time today. To listen to the call, visit the company's Web site at http://www.zebra.com/.

Forward-looking Statement

This press release contains forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, the statements regarding the company's financial forecast for the fourth quarter of 2009 stated in the paragraph above captioned "Fourth Quarter Outlook." Actual results may differ from those expressed or implied in the company's forward-looking statements. These statements represent estimates only as of the date they were made. Zebra may elect to update forward-looking statements but expressly disclaims any obligation to do so, even if the company's estimates change.

These forward-looking statements are based on current expectations, forecasts and assumptions and are subject to the risks and uncertainties inherent in Zebra's industry, market conditions, general domestic and international economic conditions, and other factors. These factors include customer acceptance of Zebra's hardware and software products and competitors' product offerings, and the potential effects of technological changes. These factors also include the current credit crisis, capital markets volatility, and disruptions and overall worldwide deteriorating economic conditions that have been widely reported, as they may have adverse effects on Zebra, its suppliers and its customers. Profits and profitability will be affected by Zebra's ability to control manufacturing and operating costs, including the effect of Zebra's activities to transfer final assembly of its printers to a third-party manufacturer. Because of a large investment portfolio, interest rates and financial market conditions will also have an impact on results. Foreign exchange rates will have an effect on financial results because of the large percentage of our international sales. The outcome of litigation in which Zebra may be involved is another factor. In addition, the acquisitions of WhereNet, proveo, Navis and Multispectral Solutions have risks relating to integrating these companies' businesses and operations with Zebra's. These and other factors could have an adverse effect on Zebra's sales, gross profit margins and results of operations and increase the volatility of our financial results. When used in this release and documents referenced, the words "anticipate," "believe," "estimate," and "expect" and similar expressions, as they relate to the company or its management, are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. Descriptions of the risks, uncertainties and other factors that could affect the company's future operations and results can be found in Zebra's filings with the Securities and Exchange Commission. In particular, readers are referred to Zebra's Form 10-K for the year ended December 31, 2008.

Zebra Technologies Corporation helps its customers identify, track and manage assets, transactions and people with systems and solutions that improve business processes. Companies use innovative and reliable Zebra printers, supplies, RFID products and software to increase productivity, improve quality, lower costs, and deliver better customer service. Information about Zebra and Zebra-brand products can be found at http://www.zebra.com/.

CONTACT: Investors: Media: Douglas A. Fox, CFA Orlando De Bruce Vice President, Investor Relations Director, Global Public and Treasurer Relations +1 847 793 6735 +1 510 267 5052 dfox@zebra.com odebruce@zebra.com ZEBRA TECHNOLOGIES CORPORATION CONSOLIDATED BALANCE SHEETS (Amounts in thousands) October 3, December 31, 2009 2008 ---- ---- ASSETS (Unaudited) Current assets: Cash and cash equivalents $39,048 $33,267 Restricted cash 1,748 1,639 Investments and marketable securities 91,055 85,654 Accounts receivable, net 144,375 152,679 Inventories, net 79,807 100,199 Deferred income taxes 11,312 11,679 Income taxes receivable 369 - Prepaid expenses and other current assets 10,503 11,701 ------ ------ Total current assets 378,217 396,818 ------- ------- Property and equipment at cost, less accumulated depreciation and amortization 78,984 75,363 Long-term deferred income taxes 47,422 51,251 Goodwill 153,497 151,356 Other intangibles, net 58,633 66,359 Long-term investments and marketable securities 91,421 104,326 Other assets 5,254 5,405 ----- ----- Total assets $813,429 $850,878 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $22,716 $38,152 Accrued liabilities 48,582 67,911 Deferred revenue 21,867 18,366 Income taxes payable - 558 --- --- Total current liabilities 93,165 124,987 Deferred rent 4,241 4,903 Other long-term liabilities 9,479 10,250 ----- ------ Total liabilities 106,885 140,140 ------- ------- Stockholders' equity: Preferred Stock 722 722 Class A Common Stock - - Additional paid-in capital 134,953 144,861 Treasury stock (372,800) (344,147) Retained earnings 951,565 922,091 Accumulated other comprehensive loss (7,896) (12,789) ------ ------- Total stockholders' equity 706,544 710,738 ------- ------- Total liabilities and stockholders' equity $813,429 $850,878 ======== ======== ZEBRA TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS (Amounts in thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, 2009 2008 2009 2008 ---- ---- ---- ---- Net sales $200,778 $244,073 $581,063 $744,132 Cost of sales 109,080 126,287 321,820 375,716 ------- ------- ------- ------- Gross profit 91,698 117,786 259,243 368,416 Operating expenses: Selling and marketing 25,793 30,980 72,193 91,453 Research and development 21,155 23,879 63,573 71,345 General and administrative 23,348 18,534 64,659 67,795 Amortization of intangible assets 2,649 4,711 7,857 13,904 Exit, restructuring and integration costs 3,515 4,304 9,455 12,218 Claim settlement - (5,302) - (5,302) Asset impairment charges 88 - (203) - --- --- ---- --- Total operating expenses 76,548 77,106 217,534 251,413 ------ ------ ------- ------- Operating income 15,150 40,680 41,709 117,003 ------ ------ ------ ------- Other income (expense): Investment income 901 (5,140) 3,093 (14) Foreign exchange gain (loss) 575 247 (840) 878 Other, net (286) (185) (622) (1,089) ---- ---- ---- ------ Total other income 1,190 (5,078) 1,631 (225) ----- ------ ----- ---- Income before income taxes 16,340 35,602 43,340 116,778 Income taxes 5,229 9,832 13,866 37,838 ----- ----- ------ ------ Net income $11,111 $25,770 $29,474 $78,940 ======= ======= ======= ======= Basic earnings per share $0.19 $0.40 $0.49 $1.21 Diluted earnings per share $0.19 $0.40 $0.49 $1.20 Basic weighted average shares outstanding 58,954 64,328 59,548 65,190 Diluted weighted average and equivalent shares outstanding 59,083 64,653 59,643 65,550 ZEBRA TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts in thousands) (Unaudited) Nine Months Ended ----------------- October 3, September 27, 2009 2008 ---- ---- Cash flows from operating activities: Net income $29,474 $78,940 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 24,409 28,418 Stock-based compensation 8,687 10,780 Excess tax benefit from share-based compensation (11) (187) Gain on sale of asset 357 (1,121) Asset impairment charges (203) - Deferred income taxes 4,259 (4,624) Changes in assets and liabilities, net of effects of acquisitions: Accounts receivable, net 13,797 (29,654) Inventories 22,632 (22,575) Other assets (677) 930 Accounts payable (21,216) 7,573 Accrued liabilities (19,389) (6,009) Deferred revenue 2,674 13,279 Income taxes payable (2,394) 2,295 Other operating activities 584 2,461 --- ----- Net cash provided by operating activities 62,983 80,506 ------ ------ Cash flows from investing activities: Purchases of property and equipment (19,499) (28,534) Proceeds from sale of assets - 14,796 Acquisition of businesses acquired, net of cash acquired - (18,570) Acquisition of intangible assets - (1,100) Payments for patents and licensing arrangements (425) - Purchases of investments and marketable securities (236,520) (502,699) Maturities of investments and marketable securities 194,939 388,362 Sales of investments and marketable securities 49,899 178,104 ------ ------- Net cash provided by (used in) investing activities (11,606) 30,359 ------- ------ Cash flows from financing activities: Purchase of treasury stock (49,609) (107,504) Proceeds from exercise of stock options and stock purchase plan purchases 3,250 4,343 Excess tax benefit from share-based compensation 11 187 --- --- Net cash used in financing activities (46,348) (102,974) ------- -------- Effect of exchange rate changes on cash 752 775 --- --- Net increase in cash and cash equivalents 5,781 8,666 Cash and cash equivalents at beginning of period 33,267 38,211 ------ ------ Cash and cash equivalents at end of period $39,048 $46,877 ======= ======= Supplemental disclosures of cash flow information: Income taxes paid 19,856 40,682 ZEBRA TECHNOLOGIES CORPORATION SUPPLEMENTAL SALES INFORMATION (Amounts in thousands) (Unaudited) SALES BY PRODUCT CATEGORY Three Months Ended ----------------------- Percent Percent of Net of Net Product October 3, September 27, Percent Sales - Sales - Category 2009 2008 Change 2009 2008 --------- ---- ---- ------ ---- ---- Hardware $131,484 $175,663 (25.1) 65.5 72.0 Supplies 43,229 45,530 (5.1) 21.5 18.7 Service and software 25,443 26,260 (3.1) 12.7 10.8 Shipping and handling 1,250 1,710 (26.9) 0.6 0.6 Cash flow hedging activities (629) (5,090) NM (0.3) (2.1) --- ----- --- --- --- Total sales $200,778 $244,073 (17.7) 100.0 100.0 ======= ======= ==== ===== ===== Nine Months Ended ----------------------- Percent Percent of Net of Net Product October 3, September 27, Percent Sales - Sales - Category 2009 2008 Change 2009 2008 --------- ---- ---- ------ ---- ---- Hardware $382,504 $541,483 (29.4) 65.8 72.8 Supplies 116,836 131,236 (11.0) 20.1 17.6 Service and software 77,116 78,955 (2.3) 13.3 10.6 Shipping and handling 3,883 5,344 (27.3) 0.7 0.7 Cash flow hedging activities 724 (12,886) NM 0.1 (1.7) --- ------ --- --- --- Total sales $581,063 $744,132 (21.9) 100.0 100.0 ======= ======= ==== ===== ===== SALES BY GEOGRAPHIC REGION Three Months Ended ----------------------- Percent Percent of Net of Net Geographic October 3, September 27, Percent Sales - Sales - Region 2009 2008 Change 2009 2008 --------- ---- ---- ------ ---- ---- Europe, Middle East and Africa $67,591 $85,381 (19.9) 33.7 35.0 Latin America 17,452 21,268 (17.9) 8.7 8.7 Asia-Pacific 20,889 26,560 (24.3) 10.4 10.9 Total International 105,932 133,209 (20.5) 52.8 54.6 North America 94,846 110,864 (14.4) 47.2 45.4 ------ ------- ---- ---- ---- Total sales $200,778 $244,073 (17.7) 100.0 100.0 ======= ======= ==== ===== ===== Nine Months Ended ----------------------- Percent Percent of Net of Net Geographic October 3, September 27, Percent Sales - Sales - Region 2009 2008 Change 2009 2008 --------- ---- ---- ------ ---- ---- Europe, Middle East and Africa $211,255 $276,538 (22.3) 36.4 37.2 Latin America 45,528 58,618 (22.3) 7.8 7.9 Asia-Pacific 60,136 76,694 (26.0) 10.3 10.3 Total International 316,919 411,850 (23.0) 54.5 55.4 North America 264,144 332,282 (20.5) 45.5 44.6 ------- ------- ---- ---- ---- Total sales $581,063 $744,132 (21.9) 100.0 100.0 ======= ======= ==== ===== ===== ZEBRA TECHNOLOGIES CORPORATION SUPPLEMENTAL SEGMENT INFORMATION (Amounts in thousands) (Unaudited) Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, 2009 2008 2009 2008 ---- ---- ---- ---- Net sales: Specialty Printing Group $180,757 $218,452 $519,434 $671,965 Zebra Enterprise Solutions 20,021 25,621 61,629 72,167 ------ ------ ------ ------ Total $200,778 $244,073 $581,063 $744,132 ======== ======== ======== ======== Cost of sales: Specialty Printing Group $101,926 $114,999 $297,058 $341,149 Zebra Enterprise Solutions 7,154 11,288 24,762 34,567 ----- ------ ------ ------ Total $109,080 $126,287 $321,820 $375,716 ======== ======== ======== ======== Operating expenses: Specialty Printing Group $42,149 $48,959 $121,607 $155,153 Zebra Enterprise Solutions 15,866 15,970 47,560 53,940 Corporate and other 18,533 12,177 48,367 42,320 ------ ------ ------ ------ Total $76,548 $77,106 $217,534 $251,413 ======= ======= ======== ======== Operating income (loss): Specialty Printing Group $36,682 $54,494 $100,769 $175,663 Zebra Enterprise Solutions (2,999) (1,637) (10,693) (16,340) Corporate and other (18,533) (12,177) (48,367) (42,320) ------- ------- ------- ------- Total $15,150 $40,680 $41,709 $117,003 ======= ======= ======= ======== Corporate and other includes corporate administration costs or assets that support both reporting segments. ZEBRA TECHNOLOGIES CORPORATION PRINTER UNITS and AVERAGE UNIT PRICES (Unaudited) Three Months Ended Nine Months Ended -------------------------------- -------------------------------- October 3, September 27, Percent October 3, September 27, Percent 2009 2008 Change 2009 2008 Change ---- ---- ------ ---- ---- ------ Total printers shipped 201,713 241,717 (16.6) 606,130 722,576 (16.1) Average selling price of printers shipped $551 $596 (7.6) $577 $613 (5.9)

Zebra Technologies Corporation

CONTACT: Investors, Douglas A. Fox, CFA, Vice President, Investor
Relations and Treasurer, +1-847-793-6735, dfox@zebra.com, or Media, Orlando De
Bruce, Director, Global Public Relations, +1-510-267-5052, odebruce@zebra.com,
both of Zebra Technologies Corporation

Web Site: http://www.zebra.com/

Monsanto Opens First Biotechnology Research Center in China

ST. LOUIS and BEIJING, Nov. 4, 2009 /PRNewswire-FirstCall/ -- Monsanto Company announced today that it is opening its first research center in China, further demonstrating its commitment to forming technology collaborations in the country.

The Monsanto Biotechnology Research Center in Zhongguancun, Beijing, will strengthen the company's ties with Chinese research institutions in plant biotechnology and genomics.

The new research center is an extension of the company's commitment to doubling yields in its core crops by 2030 compared to a base year of 2000, while reducing the amount of inputs required per unit produced by a third. Monsanto currently invests more than $2 million a day in research in order to meet this commitment to global agriculture.

The Beijing research center will participate in early-stage bioinformatics and genomics research, and serve as a base for collaborations with Chinese scientists. Monsanto also has research centers in the United States, Brazil and India.

"Monsanto has made a commitment to collaborate with Chinese scientists on advanced biotech and breeding technology," said Stephen Padgette, vice president of biotechnology for Monsanto. "Monsanto has made a commitment to develop advanced biotech and breeding technology to China. The establishment of the center will give Chinese researchers access to our global research network and to our industry-leading product development pipeline."

"We are pleased that Monsanto, the leading agricultural biotech company, is setting up a research center in China. Biotech is an important solution to increase crop productivity. Technology innovation and improvement will be determining factors for agriculture sustainability," said Zhai Huqu, president of the Chinese Academy of Agricultural Science (CAAS). "Strengthening the exchange of information and creating a technology collaboration platform is crucial for technological innovation. CAAS has worked with Monsanto in the past and this is a great opportunity to expand that collaboration."

Recently, Monsanto announced a collaboration with Huazhong Agricultural University to further gene discovery and the development of novel biotechnology traits. The company also established a RMB 1 million scholarship at the university to encourage students to pursue careers in biotechnology research.

Prof. Qifa Zhang, a leading scientist at Huazhong Agricultural University, congratulated Monsanto on the establishment of the research center.

"The establishment of the center will have a key role in further strengthening our collaboration, and speeding up commercialization and marketing of new technology," Zhang said.

China has already made many achievements in agricultural research, said John McLean, general manager of the research center.

"We hope to work closely with Chinese scientists and researchers on innovation in agricultural biotechnology. Establishing a research center in China is a good platform for exchange of information and collaboration between Monsanto and Chinese researchers," McLean said. "We already work with several research institutions and universities on novel agricultural traits. We firmly believe that technological advances will increase productivity and contribute to finding solutions to the challenges facing agriculture."

About Monsanto Company

Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: http://www.monsanto.com/. Follow our business on Twitter at http://www.twitter.com/MonsantoCo, on Facebook at http://www.facebook.com/MonsantoCo, or subscribe to our News Release RSS Feed.

Contact | Media - Riddhi Trivedi-St. Clair, Monsanto (314-694-4490)

Monsanto Company

CONTACT: Media, Riddhi Trivedi-St. Clair of Monsanto, +1-314-694-4490

Web Site: http://www.monsanto.com/

Endeavour Announces 2009 Third Quarter Financial and Operating Results

HOUSTON, November 4 /PRNewswire/ --

Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) today reported discretionary cash flow for the third quarter of 2009 of US$7.6 million and net income (loss), as adjusted, of US$(6.4) million. For the nine months ended September 30, 2009, discretionary cash flow was US$50.0 million and net income (loss), as adjusted, was US$27.5 million.

"We continue to make significant progress on our developments in the United Kingdom and build momentum on our initiatives in the United States," said William L. Transier, chairman, chief executive officer and president. "Our third quarter operating results were challenged by planned and unplanned downtime in the North Sea, especially on Goldeneye. We expect the fourth quarter to return to more normal levels."

On a GAAP basis, net income (loss) to common stockholders was (US$7.2) million for the third quarter of 2009 as compared to US$75.5 million in the same quarter in 2008. On a GAAP basis, net income (loss) to common stockholders was (US$19.6) million for the nine months ended September 30, 2009 as compared to (US$10.7) million in the same period in 2008.

Highlights for the third quarter are as follows:

Debt repayment - During 2009, Endeavour has repaid bank debt of US$65 million using cash from operations and proceeds from the sale of Norwegian assets. The mid-year redetermination resulted in no required repayments. As developments in the United Kingdom progress and the Field Development Plan (FDP) filing and approval process continues, the company is engaged with its bank group to expand current borrowing arrangements to include a typical development facility providing additional funding flexibility.

Acquisition of working interest in five fields in the United States - Endeavour has acquired 50 percent of the working interest owned by Cohort Energy Company, a subsidiary of J-W Operating Company, in 24 wells located in five fields and certain proved undeveloped locations associated with the proved developed assets in North Louisiana and East Texas for US$15 million. Endeavour estimates that net proved producing reserves associated with these assets are 4.3 billion cubic feet equivalent of natural gas and that total net proved reserves are 13.1 billion cubic feet equivalent with inclusion of proved undeveloped locations. Net production acquired is currently 3.9 million cubic feet per day of natural gas or 650 barrels of oil equivalent per day.

Continued exploration and appraisal drilling in the United Kingdom - Endeavour is scheduled to drill two exploratory wells in late 2009 or early 2010 and two appraisal wells in the North Sea during the first half of next year. The activities include:

- Two wells are planned for the Cygnus field to appraise the gas potential of the western half of the field. The wells have the potential to double the size of the estimated recoverable reserves from the previous exploration and appraisal activities now estimated at 535 billion cubic feet. Endeavour has a 12.5 percent interest in the field. - The company has entered into a farm-in agreement with Nexen Petroleum U.K. Limited to drill the Deacon prospect in Block 15/28c with a spud date anticipated as early as the fourth quarter. The well will test a Jurassic prospect in the company's R-block area of the North Sea with an estimated volume of up to 60 million barrels of condensate. Endeavour holds 10 percent interest in the prospect. - The Platypus exploratory well in Block 48/1 is slated for drilling in early 2010. The prospect will test the Rotliegendes formation with an estimated volume of up to 80 billion cubic feet of natural gas. Endeavour holds a 25 percent interest in the prospect.

Onshore activity in the United States - Endeavour currently has underway drilling projects in New Mexico and Texas.

- Three wells are at various stages of maturity in the emerging Wolfcamp oil play in Southeast New Mexico. Endeavour holds a 42 percent net revenue interest in the wells. - The Lucky Penny well has been completed and is currently producing. - The Moore Bailout well has been drilled and is currently flow testing. - The Bada Bing well is currently drilling. - Additional testing has been approved for the Armour Runnels #1 exploration well located in Matagorda County in South Texas. The shallower Middle Wilcox section has up to eight stage tests planned that will involve flow testing and procedures to stimulate production. Endeavour holds a seven percent net revenue interest.

Ongoing progress in development of three new fields in the North Sea - Work continues on the development of three discoveries following successful appraisal programs that heightened the potential of the fields:

- Rochelle - The development project is progressing strongly and the FDP filing is expected in December 2009. Production is expected to begin in the second quarter of 2011. Endeavour holds a 55.6 percent interest in the development and is the operator. - Cygnus - Following the successful appraisal of the eastern area of the field early in 2009, the development project is progressing well with production from the first phase expected to begin mid 2011. The two appraisal wells in the western half in early 2010 will provide data to scale the facilities in the second and third phases of the development. - Columbus - Having now identified the most likely export host facility, the development project is progressing with production expected in 2012. Endeavour holds a 25 percent interest in the development.

2009 Outlook

The table below sets forth a range of estimates for the company's operating statistics for the full year ending December 31, 2009 following the completion of the sale of Norwegian assets.

(All amounts in US dollars unless otherwise noted.) Estimated Average Production (A) Daily Production (BOE per day) 4,000 to 5,000 Differentials (B) Oil ($/Bbl) $(5.50) to $(6.50) Gas($Mcf) $(0.10) to $(0.20) Gas percentage of Total 50% to 55% Lease Operating Expense ($per barrel) $9.50 to $12.00 (A) Actual results may differ materially from these estimates. (B) For purposes of the estimates, assumptions of price differentials are based on location, quality and other factors, excluding the effects of derivative financial instruments. Gas price differentials are stated as premiums (discounts) from National Balancing Point pricing, and oil price differentials are stated as premiums (discounts) from Dated Brent pricing

Earnings Conference Call Today, Wednesday, November 4, 2009 at 9:00 a.m., Central Standard Time, 3:00 p.m. Greenwich Mean Time

Endeavour will host an analyst conference call and web cast today, Wednesday, November 4, 2009, to discuss its 2009 third quarter financial and operating results at 9 a.m. Central Standard Time, 3 p.m. Greenwich Mean Time. To participate and ask questions during the conference call, dial the local country telephone number and the confirmation code 68628760. The toll-free numbers are 888-713-4217 in the United States and +44-080-8234-7616 in the United Kingdom. Other international callers should dial +1-617-213-4869 (tolls apply). To listen only to the live audio web cast access Endeavour's home page at http://www.endeavourcorp.com. A replay will be available beginning at 12:00 p.m. Central Standard Time on November 4 through 12:00 p.m. on November 11 by dialing toll free 888-286-8010 (U.S.) or +1-617-801- 6888 (international), confirmation code 52548682

Endeavour International Corporation is an oil and gas exploration and production company focused the development, exploration and acquisition of energy reserves in the North Sea and the United States. For more information, visit http://www.endeavourcorp.com.

Additional information for investors:

Certain statements in this press release are forward-looking and are based upon Endeavour's current belief as to the outcome and timing of future events. All statements, other than statements of historical facts that address an activity that Endeavour plans, expects, believes, projects, estimates, or anticipates will, should or may occur in the future, including future production of oil and gas, future capital expenditures and drilling of wells and future financial or operating results are forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements herein include the timing and extent of changes in commodity prices for oil and gas, operating risks and other risk factors as described in Endeavour's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission (SEC). Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Endeavour's actual results and plans could differ materially from those expressed in the forward-looking statements.

The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. Endeavour is also subject to the requirements of the London Stock Exchange and considers the disclosures in this release to be appropriate and/or required under the guidelines of that exchange. We may use certain terms, such as probable, possible and potential reserves or resources, that the SEC's guidelines strictly prohibit us from including in our filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by Endeavour. Potential resources may not constitute reserves within the meaning of the Society of Petroleum Engineer's Petroleum Resource Management System and does not include any proved reserves. Actual quantities that may be ultimately recovered from Endeavour's interests may differ substantially. Factors affecting ultimate recovery include oil and gas pricing, the scope of our ongoing drilling program, which will be directly affected by the availability of capital, drilling and production costs, availability of drilling services and equipment, drilling results, transportation constraints, regulatory approvals and other factors; and actual drilling results, including geological and mechanical factors affecting recovery rates. Investors are urged to consider closely the disclosure in our Form 10-K and each of our Form 10-Qs, available free of charge on our internet site (http://www.endeavourcorp.com). You can also obtain these forms from the SEC on the SEC's internet site (http://www.sec.gov) or by calling 1-800-SEC-0330.

Endeavour International Corporation Condensed Consolidated Balance Sheets (Unaudited) (Amounts in thousands) September 30, December 31, 2009 2008 ---- ---- Assets Current Assets: Cash and cash equivalents $77,805 $31,421 Restricted cash 374 20,739 Accounts receivable 12,185 22,325 Prepaid expenses and other current assets 18,781 42,194 Current assets of discontinued operations - 16,726 ----------------------------------------- --- ------ Total Current Assets 109,145 133,405 Property and Equipment, Net 243,834 232,346 Goodwill 211,886 213,949 Other Assets 5,964 9,165 Long Term Assets of Discontinued Operations - 148,605 ------------------------------------------- --- ------- Total Assets $570,829 $737,470 ============ ======== ======== Liabilities and Stockholders' Equity Current Liabilities: Accounts payable $12,725 $38,630 Current maturities of debt - 13,000 Accrued expenses and other 23,157 36,641 Current liabilities of discontinued operations - 22,232 ----------------------------------------- --- ------ Total Current Liabilities 35,882 110,503 Long-Term Debt 169,656 214,855 Deferred Taxes 69,847 67,299 Other Liabilities 68,426 55,791 Long-term Liabilities of Discontinued Operations - 46,051 ------------------------------------------------ --- ------ Total Liabilities 343,811 494,499 Commitments and Contingencies Series C Convertible Preferred Stock (Liquidation 125,000 125,000 Stockholders' Equity: 102,018 117,971 --------------------- ------- ------- Total Liabilities and Stockholders' Equity $570,829 $737,470 ========================================== ======== ========

Endeavour International Corporation Condensed Consolidated Statement of Operations (Unaudited) (Amounts in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Revenues $7,759 $44,160 $42,179 $145,312 Cost of Operations: Operating expenses 3,876 7,154 14,455 23,681 Depreciation, depletion and amortization 5,646 14,856 24,828 53,247 Impairment of oil and gas properties - - 30,645 - General and administrative 4,091 4,064 12,041 11,617 -------------------------- ----- ----- ------ ------ Total Expenses 13,613 26,074 81,969 88,545 -------------- ------ ------ ------ ------ Income (Loss) From Operations (5,854) 18,086 (39,790) 56,767 ------------------ ------ ------ -------- ------ Other Income (Expense): Derivatives: Realized gains (losses) 7,530 (13,631) 28,581 (31,276) Unrealized gains (losses) (4,360) 119,089 (38,455) (41,239) Interest expense (3,919) (4,694) (12,054) (18,489) Interest income and other 1,402 2,863 (6,932) 2,834 ------------------------- ----- ----- ------ ----- Total Other Income (Expense) 653 103,627 (28,860) (88,170) --------------------------- --- ------- -------- -------- Income (Loss) Before Income Taxes (5,201) 121,713 (68,650) (31,403) Income Tax Expense (Benefit) (441) 57,736 (10,477) (9,195) --------------------------- ---- ------ -------- ------ Income (Loss) from Continuing Operations (4,760) 63,977 (58,173) (22,208) Discontinued Operations, net of tax: Income (loss) from operations - 14,219 (774) 19,588 Gain on sale 277 - 47,420 - ------------ --- --- ------ --- Income from Discontinued Operations 277 14,219 46,646 19,588 ------------------------ --- ------ ------ ------ Net Income (Loss) (4,483) 78,196 (11,527) (2,620) Preferred Stock Dividends 2,696 2,709 8,061 8,113 ------------------------- ----- ----- ----- ----- Net Income (Loss) to Common Stockholders $(7,179) $75,487 $(19,588) $(10,733) =========================== ======= ======= ======== ======== Basic Net Income (Loss) per Common Share: Continuing operations $(0.06) $0.48 $(0.51) $(0.23) Discontinued operations - 0.11 0.36 0.15 ----------------------- --- ---- ---- ---- Total $(0.06) $0.59 $(0.15) $(0.08) ===== ====== ===== ====== ====== Diluted Net Income (Loss) per Common Share: Continuing operations $(0.06) $0.29 $(0.51) $(0.23) Discontinued operations - 0.07 0.36 0.15 ----------------------- --- ---- ---- ---- Total $(0.06) $0.36 $(0.15) $(0.08) ===== ====== ===== ====== ====== Weighted Average Number of Common Shares Outstanding: Basic 130,109 127,810 129,719 127,658 ===== ======= ======= ======= ======= Diluted 130,109 211,811 129,719 127,658 ======= ======= ======= ======= =======

Endeavour International Corporation Condensed Consolidated Statement of Cash Flows (Unaudited) (Amounts in thousands) Nine Months Ended September 30, ------------------------------- 2009 2008 ---- ---- Cash Flows from Operating Activities: Net loss $(11,527) $(2,620) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation, depletion and Amortization 29,509 64,073 Impairment of oil and gas properties 30,645 - Deferred tax benefit (3,269) (5,568) Unrealized gain on derivatives 38,455 41,239 Gain on sale of Norwegian operations (47,420) - Other 13,577 7,945 Changes in operating assets and liabilities: (Increase) decrease in receivables 6,593 (4,259) (Increase) decrease in other current assets 5,060 (6,716) Increase (decrease) in liabilities (21,939) 5,520 ---------------------- ------- ----- Net Cash Provided by Operating Activities 39,684 99,614 Cash Flows From Investing Activities: Capital expenditures (92,766) (46,512) Proceeds from sales, net of cash 144,765 - Decrease in restricted cash 20,366 - --------------------------- ------ - Net Cash Provided by (Used in) Investing Activities 72,365 (46,512) Cash Flows From Financing Activities: Repayments of borrowings (64,458) (120,000) Borrowings under debt agreements - 88,000 Dividends paid (7,969) (7,969) Financing costs paid - (3,382) Other financing 27 (514) --------------- -- ---- Net Cash Used in Financing Activities (72,400) (43,865) Net Increase in Cash and Cash Equivalents 39,649 9,237 Cash and Cash Equivalents, Beginning of Period 38,156 16,440 --------------------------------------- ------ ------ Cash and Cash Equivalents, End of Period $77,805 $25,677 ======================================== ======= ======= Cash and Cash Equivalents, End of Period: Continuing operations $77,805 $18,260 Discontinued operations - 7,417 ----------------------- --- ----- Total $77,805 $25,677 ===== ======= =======

Endeavour International Corporation Operating Statistics (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Sales volume (1) Oil and condensate sales (Mbbls): United Kingdom 82 235 494 834 United States 1 - 2 - ------------- - - - - Continuing operations 83 235 496 834 Discontinued operations - Norway - 204 310 545 ------------------------- - --- --- --- Total 83 439 806 1,379 ----- -- --- --- ----- Gas sales (MMcf): United Kingdom 629 1,470 2,777 5,149 United States 19 - 130 - ------------- -- --- --- - Continuing operations 648 1,470 2,907 5,149 Discontinued operations - Norway - 575 686 1,640 ------------------------ --- --- --- ----- Total 648 2,045 3,593 6,789 ----- --- ----- ----- ----- Oil equivalent sales (MBOE) United Kingdom 187 480 957 1,692 United States 4 - 23 - ------------- --- --- -- --- Continuing operations 191 480 980 1,692 Discontinued operations - Norway - 299 425 819 ------------------------- - --- --- --- Total 191 779 1,405 2,511 ----- --- --- ----- ----- Total BOE per day 2,072 8,477 5,147 9,162 ----------------- ----- ----- ----- ----- Physical production volume (BOE per day): United Kingdom 2,777 5,075 3,675 6,064 United States 32 - 54 - ------------- -- --- -- --- Continuing operations 2,809 5,075 3,729 6,064 Discontinued operations - Norway - 2,763 1,545 2,816 ------------------------- - ----- ----- ----- Total 2,809 7,838 5,274 8,880 ----- ----- ----- ----- ----- Realized Prices (2) Oil and condensate price ($per Bbl): Before commodity Derivatives $61.73 $106.22 $47.38 $101.60 Effect of commodity derivatives 46.05 (23.70) 24.47 (20.78) ------------------- ----- ------ ----- ------ Realized prices including commodity derivatives $107.78 $82.52 $71.85 $80.82 -------------------- ------- ------ ------ ------ Gas price ($per Mcf): Before commodity derivatives $4.10 $12.14 $5.99 $11.63 Effect of commodity derivatives 5.75 (1.58) 2.46 (0.39) ------------------- ---- ------ ---- ------ Realized prices including commodity derivatives $9.85 $10.56 $8.45 $11.24 -------------------- ----- ------ ----- ------ Equivalent oil price ($per BOE): Before commodity derivatives $40.70 $91.65 $42.51 $87.26 Effect of commodity derivatives 39.50 (17.48) 20.34 (12.46) ------------------- ----- ------ ----- ------ Realized prices including commodity derivatives $80.20 $74.17 $62.85 $74.80 -------------------- ------ ------ ------ ------ (1) We record oil revenues on the sales method, i.e. when delivery has occurred. Actual production may differ based on the timing of tanker liftings. We use the entitlements method to account for sales of gas production. (2) The average sales prices reflect both our continuing and discontinued operations and include realized gains and losses for derivative contracts we utilize to manage price risk related to our future cash flows.

Endeavour International Corporation Reconciliation of GAAP to Non-GAAP Measures (Unaudited) (Amounts in thousands) As required under Regulation G of the Securities Exchange Act of 1934, provided below are reconciliations of net income (loss) to the following non-GAAP financial measures: net income, as adjusted, Adjusted EBITDA and discretionary cash flow. We use these non-GAAP measures as key metrics for our management and to demonstrate our ability to internally fund capital expenditures and service debt. The non-GAAP measures are useful in comparisons of oil and gas exploration and production companies as they exclude non-operating fluctuations in assets and liabilities Three Months Ended Nine Months Ended September 30, September 30, ------------- ------------- 2009 2008 2009 2008 ---- ---- ---- ---- Net income (loss) $(4,483) $78,196 $(11,527) $(2,620) Depreciation, depletion and amortization 5,646 18,949 29,509 64,073Â Impairment of oil and gas properties - - 30,645 -Â Deferred tax expense (benefit) 327 52,709 (3,269) (5,568) Gain on asset sales (277) - (47,420) -Â Unrealized (gain) loss on Derivatives 4,360 (119,089) 38,455 41,239Â Other 2,042 (621) 13,577 7,946Â ----- --- ------ ----- Discretionary Cash Flow (1) $7,615 $30,144 $49,970 $105,070Â ====== ======= ======= ======== Net income (loss) to common shareholders $(7,179) $75,487 $(19,588) $(10,733) Impairment of oil and gas properties (net of tax) (2) - - 15,322 -Â Unrealized (gain) loss on derivatives (net of tax) (3) 2,885 (62,684) 23,632 21,549Â Currency impact on deferred Taxes (2,106) (6,926) 8,143 (4,203) ----- ----- ----- ----- Net Income (Loss) as Adjusted $(6,400) $5,877 $27,509 $6,613Â ======= ====== ======= ====== Net income (loss) to common Shareholders $(7,179) $75,487 $(19,588) $(10,733) Unrealized (gain) loss on Derivatives 4,360 (119,089) 38,455 41,239Â Net interest expense 3,877 4,338 11,860 17,182Â Depreciation, depletion and Amortization 5,646 18,949 29,509 64,073Â Impairment of oil and gas properties - - 30,645 -Â Income tax expense (benefit) (441) 65,395 (5,047) 23,001Â Gain on asset sales (277) - (47,420) -Â Preferred stock dividends 2,696 2,709 8,061 8,113Â ----- ----- ----- ----- Adjusted EBITDA $8,682 $47,789 $46,475 $142,875Â ===== ====== ====== ======= (1) Discretionary cash flow is equal to cash flow from operating activities before the changes in operating assets and liabilities. (2) Net of tax benefits of $(15,323) for the nine months ended September 30, 2009. (3) Net of tax expense (benefit) of $(1,475), $56,404, $(14,823) and $(19,689), respectively.

Endeavour International Corporation

Endeavour - Investor Relations, Mike Kirksey, +44-(0)-207-451-2364, +1-713-307-8788, or Canaccord Adams - United Kingdom Broker, Jeffrey Auld, +44-(0)-207-050-6500, or Pelham Public Relations - UK Media, Philip Dennis, +44-(0)-207-743-6363, or Henry Lerwill, +44-(0)-203-178-6242

ThromboGenics NV - Q3 2009 Business Update

LEUVEN, Belgium, November 4 /PRNewswire/ -- ThromboGenics NV (Euronext Brussels: THR), a biopharmaceutical company focused on innovative medicines for eye disease, vascular disease and cancer, is today issuing a business update for the period ending 30 September, 2009.

Patrik De Haes, CEO of ThromboGenics, said:

"ThromboGenics' clinical development programs have continued to make significant progress. We are very happy to have completed patient enrolment for the US Phase III study with microplasmin and recruitment in our second Phase III trial is continuing to make excellent progress. Microplasmin is central to our aim of building a successful integrated company focused on cutting edge ophthalmic medicines, that is positioned to deliver significant shareholder value.

We have also recently completed patient recruitment of a Phase II study with TB-402, assessing it as a DVT prophylactic in patients undergoing knee replacement, ahead of schedule. Our experience with TB-402 suggests that this long acting product has the potential to be an important new entrant into the anticoagulant market making it an attractive out-licensing opportunity. Our partnership with Roche for the novel anti-cancer antibody TB-403 continues to make good progress, with results from the Phase Ib trial to be presented later this month at the American Association for Cancer Research conference."

Financial Update - ThromboGenics achieved revenues of EUR3.7 million in the third quarter of 2009, the majority of which came from out-licensing. R&D expenses were EUR12.6 million during this nine month period. In Addition EUR10.4 million of expenses related to the microplasmin Phase III clinical program have been capitalized over the first nine months of this year. - As of September 30, 2009, ThromboGenics had EUR43.1 million in cash and cash equivalents. This compares to EUR60.9 million on September 30, 2008 and EUR58.9 million on December 31, 2008.

Business Highlights

Clinical Highlights

Microplasmin - Back of the Eye Disease: Phase III clinical program to evaluate non-surgical treatment of patients with vitreomacular adhesion.

- Phase III program continues to progress well, with enrolment completed for TG-MV 006 and on track for TG-MV 007

In September, ThromboGenics announced the completion of patient recruitment in the US trial (TG-MV-006) of the Phase III program with microplasmin for the non-surgical treatment of vitreomacular adhesion (a back of the eye condition). The trial recruited a total of 326 patients ahead of schedule and we anticipate reporting the results from this study by mid 2010, after a 6 month follow up period.

The second Phase III study with microplasmin, TG-MV-007, which is recruiting 320 patients in Europe and the US, is progressing well and we expect complete enrolment within the first quarter of 2010 and results of this study near the end of 2010.

This Phase III program, referred to as the MIVI-TRUST (Microplasmin for IntraVitreous Injection-Traction Release without Surgical Treatment) program, comprises two clinical trials, taking place in the United States (TG-MV-006 trial) and a second combined European and US study (TG-MV-007 trial). The indication for both of these Phase III microplasmin trials is the non-surgical treatment of focal vitreomacular adhesion. Vitreomacular adhesion is a condition in which the vitreous has an abnormally strong adhesion to the retina at the back of the eye. These adhesions can cause vessel and retinal distortion, which results in deterioration in the patient's vision. Both of these trials use the 125micro g dose of microplasmin.

Microplasmin - Diabetic Retinopathy: Phase II trial to evaluate microplasmin for the treatment of Diabetic Macular Edema (DME).

- Results from the Phase IIa trial presented at the American Society of Retina Specialists (ASRS) Conference in New York

In October 2009, ThromboGenics announced results from the Phase II trial of microplasmin intravitreal injection for treatment of DME (MIVI II DME). The trial showed that microplasmin was safe and well tolerated and that microplasmin is able to non-surgically resolve vitreomacular adhesion in some DME patients. The data from this trial were presented at the ASRS Conference in New York on 3 October, 2009 by Professor Peter Stalmans, University Hospitals Leuven, Belgium.

The MIVI II DME trial was designed to be the initial step in evaluating microplasmin in patients with diabetes, a group which is more prone to eye disease, and specifically diabetic retinopathy. ThromboGenics will finalize the next step in the development plan for microplasmin in this patient population once the results from the first Phase III trial (TG-MV-006) are reported. These results will provide significant additional data that will help ThromboGenics to refine the development plans for microplasmin in patients with diabetic retinopathy.

TB-402 - Phase II trial assessing the long-acting anticoagulant TB-402 for the prophylaxis of Deep Vein Thrombosis (DVT) following orthopedic surgery.

- Phase II trial has completed recruitment of 315 patients ahead of schedule - Results are expected in the second quarter of 2010

In October, ThromboGenics announced the completion of patient recruitment for the Phase II trial of TB-402 ahead of schedule. TB-402 is a novel, long acting anticoagulant that is being developed for the prevention of deep vein thrombosis (DVT) following orthopedic surgery. It is anticipated that the results of this study, which has recruited 315 patients, will be presented in the second quarter of 2010.

TB-402 has the potential to be a very important new entrant into the anticoagulant market. TB-402 is a recombinant human monoclonal antibody that partially inhibits Factor VIII, a key component of the coagulation cascade. This novel mode of action is expected to reduce the risk of undesirable bleeding events, even at high doses, as well as the need for patient monitoring. These are the two main drawbacks associated with current anticoagulant therapy. In addition, TB-402 is a long-acting agent, which means it could be given as a single dose to prevent the development of DVT in patients undergoing surgery. This would be an attractive option, as all current anticoagulant treatment options require daily treatment for up to several weeks.

ThromboGenics and its partner BioInvent plan to out-license TB-402 for its later stage development and commercialization. This out-licensing strategy is driven by the large sales potential of the product and the broad range of prescribers that could use an anticoagulant with TB-402's unique profile.

TB-403 (RG7334) - Novel anti-cancer agent partnered with Roche - TB-403 Phase Ib results to be presented at the American Association for Cancer Research (AACR) Conference - ThromboGenics continues to build a strong relationship with Roche

The clinical development of TB-403 is progressing as planned and the results of a Phase Ib trial are to be presented at the AACR conference in Boston, MA USA on November 15-19, 2009. The Phase Ib trial was designed to assess TB-403's tolerability, pharmacokinetics and pharmaco-dynamics in patients with advanced cancer.

In June 2008, ThromboGenics and its co-development partner BioInvent signed a strategic alliance deal with Roche for its novel anti-cancer agent, TB-403 (anti-PlGF). In January, 2009, ThromboGenics and BioInvent received their first success fee from Roche based on the successful transfer and implementation of technology and process development for TB-403 production. ThromboGenics received EUR3 million of the overall EUR5 million success fee.

Corporate Update

ThromboGenics is Shortlisted for "Biotech Company of the Year" and "Licensing Deal of the Year" at the Scrip Awards 2009

- In September 2009, ThromboGenics was shortlisted for "Biotech Company of the Year" and "Licensing Deal of the Year" at the Scrip Awards 2009. The Biotech Company of the Year award recognizes the progress and achievement a biotech company has made within the last twelve months. The Licensing Deal of the Year award acknowledges the achievement of a Company in signing a licensing deal that has both monetary and strategic benefits to all parties. The awards ceremony will take place on November 18, 2009 in London. - In October 2009, ThromboGenics announced that it raised EUR0.6 million as the result of the exercise of warrants. 90.000 shares were created and are now listed on Euronext Brussels. As a result of this exercise of warrants, ThromboGenics has 26.417.789 shares outstanding.

About ThromboGenics

ThromboGenics is a biopharmaceutical company focused on the discovery and development of innovative medicines for the treatment of eye disease, vascular disease and cancer. The Company's lead product microplasmin is in Phase III clinical development for the non-surgical treatment of back of the eye diseases. Microplasmin is also being evaluated in Phase II clinical development for additional vitreoretinal conditions. In addition, ThromboGenics is developing novel antibody therapeutics in collaboration with BioInvent International; these include TB-402 (Anti-Factor VIII), a long acting anti-coagulant, and TB-403 (anti-PlGF) for cancer.

ThromboGenics has built strong links with the University of Leuven and the Flanders Institute for Biotechnology (VIB) and has exclusive rights to certain therapeutics developed at these institutions. ThromboGenics is headquartered in Leuven, Belgium. The Company is listed on Eurolist by Euronext Brussels under the symbol THR. More information is available at http://www.thrombogenics.com.

Important information about forward-looking statements

Certain statements in this press release may be considered "forward-looking". Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company's Annual Report.

For further information please contact: ThromboGenics Dr. Patrik De Haes, CEO Tel: +32-16-75-13-10 patrik.dehaes@thrombogenics.com Chris Buyse, CFO Tel: +32-16-75-13-10 chris.buyse@thrombogenics.com Citigate Dewe Rogerson Amber Bielecka/ David Dible/ Nina Enegren Tel: +44(0)207-638-95-71 amber.bielecka@citigatedr.co.uk

ThromboGenics NV

For further information please contact: ThromboGenics, Dr. Patrik De Haes, CEO, Tel: +32-16-75-13-10, patrik.dehaes@thrombogenics.com; Chris Buyse, CFO, Tel: +32-16-75-13-10, chris.buyse@thrombogenics.com; Citigate Dewe Rogerson, Amber Bielecka/ David Dible/ Nina Enegren Tel: +44(0)207-638-95-71, amber.bielecka@citigatedr.co.uk

Oberthur Technologies and Groupe Sephira Team up to Deliver a Secured Electronic Billing Solution

PARIS, November 4 /PRNewswire-FirstCall/ -- Oberthur Technologies, the world's second largest provider of Smart Card based solutions, and Groupe Sephira, leading supplier of electronic claims for the French Healthcare Committee, jointly announce their attendance at the Salon CARTES et Identification which will take place in Paris, November 17-19, 2009.

In collaboration with Groupe SEPHIRA, Oberthur Technologies will present a Web Intellio U.S.A. mock up, a solution specifically designed for the American market and based on the CMS-1500 format, the American health insurance claim form. Web Intellio is an electronic billing solution dedicated to the healthcare industry in France, which has proven to be a reliable and successful solution for more than 10 years.

A use-case featuring an insurance carrier and a healthcare provider will be set up to demonstrate the electronic billing concept. By inserting the Oberthur health smart card into a reader and entering a private identification number, the card identification and authentication of the patient will be processed securely and accurately. The healthcare provider will then be able to fill in the CMS-1500 electronic form, initiate the invoicing process directly from his/her software Web Intellio and securely send the electronic claim to the insurance organization.

In addition, Web Intellio enables the health professional to check in real-time his/her invoices via a secured Internet connection (in process, submitted, denied).

An innovating and promising partnership reinforcing the position of these two leaders eager to strengthen their position in international markets.

Please visit us at Cartes et Identification 2009 - Oberthur Technologies booth 3G001

About Oberthur Technologies

Oberthur Technologies is a world leader in the field of secure technologies. Innovation and high quality services ensure Oberthur Technologies' strong positioning in its main target markets: cards systems, identity, security printing and cash protection.

About Groupe SEPHIRA

Groupe SEPHIRA is a leading service provider to the healthcare industry. Number one supplier of electronic claims for the French Healthcare Committee, Groupe SEPHIRA provides high-quality software solutions to more than 33,000 customers.

Oberthur Technologies

CONTACT: PRESS CONTACTS: Oberthur Technologies, Sara Depagneux, 50,
quai Michelet, 92532 Levallois-Perret Cedex, France, Tel.
+33(0)1-55-46-71-34, E-mail : s.depagneux@oberthur.com; Groupe SEPHIRA:
Sophie Buet, 12, rue Vincent Scotto, 72000 Le Mans, France, E-mail :
sophie.buet@groupe-sephira.fr

ThromboGenics NV - Q3 2009 Business Update

LEUVEN, Belgium, November 4 /PRNewswire-FirstCall/ -- ThromboGenics NV (Euronext Brussels: THR), a biopharmaceutical company focused on innovative medicines for eye disease, vascular disease and cancer, is today issuing a business update for the period ending 30 September, 2009.

Patrik De Haes, CEO of ThromboGenics, said:

Microplasmin - Back of the Eye Disease: Phase III clinical program to evaluate non-surgical treatment of patients with vitreomacular adhesion.

- Phase III program continues to progress well, with enrolment completed for TG-MV 006 and on track for TG-MV 007

Microplasmin - Diabetic Retinopathy: Phase II trial to evaluate microplasmin for the treatment of Diabetic Macular Edema (DME).

- Results from the Phase IIa trial presented at the American Society of Retina Specialists (ASRS) Conference in New York

TB-402 - Phase II trial assessing the long-acting anticoagulant TB-402 for the prophylaxis of Deep Vein Thrombosis (DVT) following orthopedic surgery.

- Phase II trial has completed recruitment of 315 patients ahead of schedule - Results are expected in the second quarter of 2010

Corporate Update

ThromboGenics is Shortlisted for "Biotech Company of the Year" and "Licensing Deal of the Year" at the Scrip Awards 2009

Important information about forward-looking statements

ThromboGenics NV

CONTACT: For further information please contact: ThromboGenics, Dr.
Patrik De Haes, CEO, Tel: +32-16-75-13-10, patrik.dehaes@thrombogenics.com;
Chris Buyse, CFO, Tel: +32-16-75-13-10, chris.buyse@thrombogenics.com;
Citigate Dewe Rogerson, Amber Bielecka/ David Dible/ Nina Enegren Tel:
+44(0)207-638-95-71, amber.bielecka@citigatedr.co.uk

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