Entries in the 'Financial' Category

MarketAxess Announces Monthly Volume Statistics for March 2008

NEW YORK, April 10 /PRNewswire-FirstCall/ — MarketAxess Holdings Inc. , the operator of a leading electronic trading platform for U.S. and European high-grade corporate bonds, emerging markets bonds and other types of fixed-income securities, today announced total monthly trading volume for March 2008 of $19.1 billion, consisting of $10.1 billion in U.S. high-grade volume, $2.1 billion in European high-grade volume, and $6.9 billion in other volume.U.S. high-grade multi-dealer trading volume is now being broken-out between “fixed-rate” and “floating-rate” trading volume categories. This data can be accessed on MarketAxess’ website at .Monthly volume updates are posted in the Investor Relations section of the website on or before the tenth business day of each month. The data provide current month and historical volume totals on a monthly, quarterly and annual basis.Cautionary Note Regarding Forward-Looking StatementsThis press release may contain forward-looking statements, including statements about the outlook and prospects for Company and industry growth, as well as statements about the Company’s future financial and operating performance. These and other statements that relate to future results and events are based on MarketAxess’ current expectations. Actual results in future periods may differ materially from the those currently expected or desired because of a number of risks and uncertainties, including: our dependence on our broker-dealer clients; the level and intensity of competition in the fixed-income electronic trading industry and the pricing pressures that may result; the variability of our growth rate; the operation of our business in a rapidly evolving industry; the level of trading volume transacted on the MarketAxess platform; our exposure to risks resulting from non-performance by counterparties to transactions executed between our broker-dealer clients in which we act as an intermediary in matching back-to-back trades; the absolute level and direction of interest rates and the corresponding volatility in the corporate fixed-income market; our ability to develop new products and offerings and the market’s acceptance of those products; our ability to protect the intellectual property rights in and security of our technology; our ability to successfully integrate any new businesses, products or technology we acquire with our current business; our future capital needs and our ability to obtain capital when needed; and other factors. The Company’s actual results and financial condition may differ, perhaps materially, from the anticipated results and financial condition in any such forward-looking statements. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. More information about these and other factors affecting MarketAxess’ business and prospects is contained in MarketAxess’ periodic filings with the Securities and Exchange Commission and can be accessed at .About MarketAxessMarketAxess operates one of the leading platforms for the electronic trading of corporate bonds and certain other types of fixed-income securities, serving as an electronic platform through which our more than 670 active institutional investor clients can access the liquidity provided by our 30 broker-dealer clients. MarketAxess’ multi-dealer trading platform allows our institutional investor clients to simultaneously request competitive, executable bids or offers from multiple broker-dealers, and to execute trades with the broker-dealer of their choice. MarketAxess offers our clients the ability to trade U.S. high-grade corporate bonds, European high-grade corporate bonds, credit default swaps, agencies, high-yield and emerging markets bonds. MarketAxess also provides data and analytical tools that help our clients make trading decisions, and we provide connectivity solutions that facilitate the trading process by electronically communicating order information between trading counterparties and we provide our clients with ancillary technology services. Our DealerAxess(R) trading service allows dealers to trade fixed-income securities with each other on our platform. For more information, please visit . MarketAxess Holdings Inc.

Tower Semiconductor to Increase its Sales Activity in Europe

MIGDAL HAEMEK, Israel, April 10 /PRNewswire-FirstCall/ — Tower Semiconductor Ltd. , an independent specialty foundry, today announced teaming up with ETesiAN Semiconductor to provide local support for Tower’s growing customer base in Europe. ETesiAN joins Solution in Silicon in the UK and Scandinavia and EquipIC in the Netherlands to further strengthen Tower’s support for existing and new European customers.The new European representative office will be providing both logistic and technical support to Tower’s existing customers as well as work to expand Tower’s customer base in the region by winning new opportunities. According to a recent McClean report, the European Total Available Market (TAM) for pure-play foundry in 2007 was $1.9B, representing 9ACIORFIPROCENTE of the world-wide foundry market. Tower currently serves more than 10 customers in Europe, among them several of the top 10 IDM and fabless companies of the region.”ETesiAN’s experienced team is pleased to join the worldwide network of local representative offices supporting Tower’s customers. We are proud to be offering Tower’s state-of-the-art technologies to the demanding European customers,” said Elie Toledano, CEO of ETesiAN “We have identified an excellent match between Tower’s specialty technology offering and the European market needs. Complemented by Tower’s superior customer support, we foresee a prosperous future and business growth.”"Tower has been in production for European customers for more than a decade. The surge in demand for Tower’s advanced processes, stemming from new and existing customers, motivated us to expand our sales channels in Europe by teaming up with an additional representative company,” said Jonathan Gendler, Tower’s Director of Europe Sales “Tower’s renowned customer support is further strengthened to answer the needs of existing customers and handle the increased influx of new opportunities.”Tower recently launched its new Power Management platform in the 0.18-micron technology node. This new offering, as well as Tower’s Mixed-Signal, RF-CMOS, CMOS image sensors and embedded NVM, serve well the demand for specialty and customized technologies of the European market.About Tower Semiconductor Ltd.:Tower Semiconductor Ltd. is a pure-play independent specialty wafer foundry established in 1993. The company manufactures integrated circuits with geometries ranging from 1.0 to 0.13-micron; it also provides complementary technical services and design support. In addition to digital CMOS process technology, Tower offers advanced mixed-signal & RF-CMOS, Power Management, CMOS image-sensor and non-volatile memory technologies. To provide world-class customer service, the company maintains two manufacturing facilities, each with standard and specialized process technology processes: Fab 1 ranging from 1.0 to 0.35 and Fab 2 featuring 0.18 and 0.13-micron. Tower’s web site is located at .About ETesiAN:Etesian Semiconductor is a rep company with a mission to serve as a one stop shop for the EMEA semiconductor industry by promoting and offering all services and products needed by the fabless and IDM companies for successful design and reliable manufacturing. ETesiAN’s offering includes advanced foundry manufacturing services, turn key services, IPs, design tools, design services, test development and production, reliability, failure analysis, packaging and financial VCs support. ETesiAN’s team is composed of sales executives coming from the foundry, VCs, Design and EDA background, with extensive networking to the semiconductor industry in Europe and Israel. Having its offices in Israel and France and partnerships in Germany and the UK, ETesiAN has direct and local access to the majority of the fabless, IDM and design service companies in the EMEA semiconductor market. ETesiAN’s web site is located at .Safe Harbor:This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect our business is included under the heading “Risk Factors” in our most recent Annual Report on Forms 20-F, F-1, F-3 and 6-K, as were filed with the Securities and Exchange Commission and the Israel Securities Authority. We do not intend to update, and expressly disclaim any obligation to update, the information contained in this release. Contacts: Tower contact: Tower Semiconductor USA Michael Axelrod, 1-408-330-6871 ETesiAN contact: Elie ToledanoTower Semiconductor Ltd

Audio Alert: Economist Diane Swonk: Chipping Away At The American Dream

CHICAGO, April 9, 2008 /PRNewswire/ — What: Chief Economist Diane Swonk provides her annual housing market podcast and April 2008 edition of Themes on the Economy, a monthly publication that provides insight into trends, issues and the forecast for the U.S. Economy.Where: Podcast - Diane_Swonk.mp3 (Note: For longer URLs, please copy link and paste into browser. You may need to delete the space where the link breaks.)Newsletter - How: Click on the URLs above. Minimum Requirements: a computer, an Internet connection, (broadband required), a portable MP3 player or MP3 player application on your computer, such as QuickTime 7 or Windows Media Player. If you experience problems downloading the MP3 file, send an email to . Chipping Away at the American Dream”Homes are unique in the spectrum of assets that we own. They embody our dreams, our sorrows, and our achievements. They are both a nest for our children to flourish and a nest-egg for our futures. They are the largest asset that most people will ever own and, as a result, enable us to finance everything from cars to college degrees,” says Diane Swonk, chief economist of Mesirow Financial, in her annual housing market edition of Themes on the Economy available at To hear a podcast of Diane’s housing market forecast, visit Diane_Swonk.mp3″This is why the downturn in housing is so tragic, as it not only represents a hit to the economy, but it represents a hit to the American psyche. It is the straw that breaks the back of working class households who feel that they have already given more than their fair share in an economy that penalizes manual labor relative to educational attainment,” notes Swonk.In her April newsletter, Swonk takes a closer look at the outlook for housing, how close we are to a bottom, and what housing shifts mean for the overall economy. — Sales. “New and existing homes sales are forecast to fall another 15ACIORFIPROCENTE in 2008, about the same as 2007. The subprime and Alt-A mortgage market have all but disappeared, which has taken many speculative and low-income buyers out of the market entirely.” — Starts. “Housing starts are expected to drop a much more dramatic 32ACIORFIPROCENTE in 2008, after declining almost 30ACIORFIPROCENTE in 2007. Much of that correction has already occurred, as starts dropped at a 20.5ACIORFIPROCENTE annualized rate between the fourth quarter of 2007 and first two months of the first quarter in 2008.” — Depreciation. “Home prices, as measured by the Office of Federal Housing Enterprise Oversight (OFHEO), are forecast to drop 5ACIORFIPROCENTE in 2008, after rising an average 1.9ACIORFIPROCENTE in 2007. Prices were already starting to decline on a year-over-year basis by the end of 2007.” — Residential Investment. “So far, the direct cost associated with the housing bust-the decline in residential investment and housing-related spending-have had the largest impact on growth. The decline in residential investment shaved more than one percent from growth in 2007 alone.” — Foreclosures. “An increase in foreclosures is a particular problem for some of the most overbuilt and economically suppressed markets. Initially, most of the defaults were concentrated in subprime and Alt-A mortgages, with a sharp increase in early defaults-mortgages that were going bad within the first six months of origination. The foreclosure problem, however, is now spreading.” — Economic Growth. “Everything from a loss in housing market wealth (via price declines) to the collateral damage created by the credit market crisis is suppressing overall economic growth. A seizure in lending in the commercial end of the construction market is particularly worrisome, as increases in commercial construction were the primary offset to losses on the residential side in 2007.”On net, stimulus provided by changes in fiscal and monetary policy will buy some time for the housing wounds to heal. They will also limit the collateral damages associated with the financial crisis triggered by the housing market bust. The bottom in housing is still ahead of us, however, and the residual pain of weak to falling home prices is likely to haunt us for some time to come,” concludes Swonk.The April issue of Themes on the Economy as well as archived issues can be found at .Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with $31.4 billion in assets under management and more than 1,100 employees in 30 locations across the country and in London. With expertise in Investment Management, Investment Services, Insurance Services, Investment Banking, Consulting and Real Estate, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals and was named one of Chicago’s Best Places to Work by Crain’s Chicago Business in 2008. For the fiscal year ended March 31, 2007, the firm posted $451 million in revenue, with more than $238 million in capital. For more information about Mesirow Financial, visit its Web site at . Mesirow Financial

Featured Stocks on Today’s Edition of WallSt.net’s 3-Minute Press Show: FDTC, FXPE, TEVI, SMKG

NEW YORK, April 9, 2008 /PRNewswire-FirstCall/ — WallSt.net’s 3-Minute Press Show is a daily video program hosted by WallSt.net reporter, Tracee Tolentino.Shows air Monday through Friday on: .WallSt.net’s 3-Minute Press Show features in-depth interviews with public company executives on their company and most recent press releases. The show is designed to provide viewers with insight into a company’s most recent press release, and its impact on the company’s growth. The following executives were interviewed on today’s show: — David Fann, President of FNDS3000 Corp. (BULLETIN BOARD: FDTC) () — Richard Moore, CEO of Fox Petroleum, Inc. (BULLETIN BOARD: FXPE) () — Boyd Soussana, CEO of The Estate Vault, Inc. (Pink Sheets: TEVI) () — Bruce Baillio, President of SmartCard Marketing Systems, Inc. (Pink Sheets: SMKG) () About WallStreet Direct, Inc.WallStreet Direct, Inc. a wholly-owned subsidiary of Financial Media Group, Inc., owns and operates WallSt.net (), a leading source of up-to-the-minute business news, comprehensive financial tools and original multimedia content for the investment community. In addition to WallSt.net, WallStreet Direct owns and operates WallStRadio () an online hub for business podcasts from well-known business news personalities and publishers. We have received two thousand five hundred dollars from Fox Petroleum, Inc. for media and advertising services. We have received one hundred ninety two thousand three hundred eight restricted shares of FNDS from FNDS3000 Corp. for media and advertising services. We have received nine hundred ninety five dollars from SmartCard Marketing Services, Inc. for media and advertising services. We have received nine hundred ninety five dollars from The Estate Vault, Inc. for media and advertising services. To read our full disclaimer, and for a complete list of our advertisers, and advertising relationships, visit .About FNDS3000 Corp.FNDS3000 Corp. is a financial services company that provides prepaid and debit cards to the over 1 Billion working population worldwide who do not have a bank account. This market is estimated at over $100 Billion on an annual basis. The Industry average revenue for prepaid payroll cards is $12.00 per month per card. Our payroll card product allows the employer to replace payroll checks for their un-banked and other workers. In addition it allows employers to use the card where they now have to pay their employees in cash, which is estimated to be over 50ACIORFIPROCENTE of the worldwide working population. Our cards allows for the domestic and international money transfer providing an inexpensive, safe and secure alternative to traditional money transfer companies like Western Union(R) and MoneyGram(R), a market estimated to be over $100 Billion annually. Our suite of card products can be used at millions of retailers and ATM’s on a worldwide basis. Other services include Gift cards, bill pay, prepaid cellular, etc.About Fox PetroleumFox Petroleum Inc. is an Oil and Gas Exploration and Production Company headquartered in London, England, the financial capital of Europe. Fox also has an operations office in Anchorage, Alaska. Fox’s current targets include mineral rights to 32,000 acres in Alaska’s North Slope estimated to represent a potential of up to 160 million barrels of oil (LAPP Resources, Inc.), and the rights to a 33.33ACIORFIPROCENTE ownership stake in a 37,000 acre UK North Sea license which could potentially hold up to 213 million barrels of oil (TRACS International Ltd). Fox has a 22.5ACIORFIPROCENTE carried interest in producing onshore Texan gas well, and has also signed agreements to acquire roughly 14,000 acres on the North Slope and approximately 42,000 of land onshore in the Cook Inlet containing the Catcher’s Mitt Prospect. Fox signed an FIA for 46ACIORFIPROCENTE of the 211/17 South block containing the Bourbon Prospect, estimated by Aimwell Energy Ltd to have a mid case recoverable reserve potential of 167 mmbo. Fox has also signed a purchase agreement for a 10-well drilling program on three leases totaling 320 acres in the Geneseo-Edwards field in Ellsworth County, Kansas.About The Estate Vault, Inc.The Estate Vault, Inc. was developed to overcome the daunting task of keeping financial, personal and legal documents up to date and in one place. Together with its strategic product partners, The Estate Vault has wrapped up its unique service offering with a Credit Card Registry, Home Inventory Listing, Identity Theft Insurance and an online Legal Documents and Will Creator.The Estate Vault intends to become the leader in value added products to the financial services industry by providing a product and service at a low price point and then leveraging patent pending technology known as IntelliAD and IntelliBrand to maximize brand awareness. For additional information go to About Smart Card Marketing Systems Inc.Smart Card Marketing Systems, Inc. was established in 2003 and is a leading provider of prepaid cards, value smart storage cards and payment processing services.The company’s current as well as long-term goal is enticing national and international organizations with millions of potential customers and vendors, to purchase and market Smart Card’s products. Smart Card plans to achieve this goal by offering a powerful sales organization and merchant reseller marketing program utilizing their GoSmartCard platform. Contact WallSt.net 800-4-WALLSTSource: WallStreet Direct, Inc.; FNDS3000 Corp.; Fox Petroleum, Inc.; The Estate Vault, Inc.; SmartCard Marketing Systems, Inc. WallStreet Direct, Inc.; FNDS3000 Corp.; Fox Petroleum, Inc.; The

Pacnet Internet (S) Limited’s Board of Directors Responds to Tender Offer

SINGAPORE, April 7, 2008 /Xinhua-PRNewswire/ — Pacnet Internet (S) Limited (”PIL” or the “Company”) announced today that the Board of Directors of the Company, in response to the offer (the “Offer”) by Pacnet Limited (formerly known as Connect Holdings Limited), together with its principal shareholder and ultimate control person, to purchase all issued ordinary shares of the Company (as well as shares to be issued under the Company’s option plan) at a purchase price of US$11.20 net in cash per share (the ”Offer Price”), without interest, is expressing no opinion to the Company’s shareholders with respect to the Offer or the Offer Price. All of the members of the Board are employees of Pacnet Limited and do not consider themselves independent with respect to the Offer or Pacnet Limited and are remaining neutral.The Board has not made, and does not intend to make, a determination as to whether the Offer or the Offer Price is fair to or in the best interests of PIL’s shareholders and is not making a recommendation regarding whether PIL’s shareholders should accept the Offer and tender their shares, and, if so, how many shares to tender, or reject the Offer and not tender their shares.The Board has determined that a shareholder’s decision on whether or not to tender its shares in the Offer and, if so, how many shares to tender, is a personal investment decision based upon each individual shareholder’s particular circumstances. The Board urges each shareholder to make its own decision regarding the Offer based on all of the available information, including the adequacy of the Offer Price in light of the shareholder’s own investment objectives, the shareholder’s views as to the Company’s prospects and outlook, and any other factors that the shareholder deems relevant to its investment decision. The Board also urges each shareholder to consult with its financial and tax advisors regarding the Offer.The Company has been advised that the Offer will expire at 12:00 midnight, New York City Time on 24 April 2008, 12:00 noon, Singapore Time on 24 April 2008, unless the Offer is extended. For further details regarding the Offer, please refer to Pacnet Limited’s Offer to Purchase that was made on 27 March 2008.About Pacific (S) Internet LimitedPacific Internet (S) Limited (formerly Nasdaq: PCNTF) is the largest telco-independent Internet Communications Service Provider by geographic reach in the Asia Pacific region. The Company has direct presence in Singapore, Hong Kong, the Philippines, Australia, India, Thailand and Malaysia. The Company delivers a comprehensive suite of Internet data, voice and video services to corporate business and consumer customers. For more information, visit .Cautionary StatementCertain statements in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include but are not limited to those using words such as “seek”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “plan”, “strategy”, “forecast” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “may” and “might”. These statements reflect the Company’s current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including but not limited to (i) changes in the economic, regulatory and political environments in the countries where PIL operates; (ii) changes and developments in technology and the Internet marketplace; (iii) PIL’s continued ability to develop and win acceptance of its products and services, which are offered in highly competitive markets; (iv) the success of its joint ventures and alliances; (v) exchange rates, particularly between the Singapore dollar and the U.S. dollar and other currencies in which PIL makes significant sales or in which its assets and liabilities are denominated; and (vi) the outcome of contingencies. In light of the many risks and uncertainties surrounding the Internet marketplace, the actual results could differ materially from those discussed in the forward-looking statements. PIL expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in PIL’s statements or change in events, conditions, or circumstances on which any such statement is based. For more information, please contact: Lorain Wong Tel: 852-2121-2973 Email: Pacnet Internet (S) Limited

Pacnet Internet (S) Limited’s Board of Directors Responds to Tender Offer

SINGAPORE, April 7, 2008 /Xinhua-PRNewswire/ — Pacnet Internet (S) Limited (”PIL” or the “Company”) announced today that the Board of Directors of the Company, in response to the offer (the “Offer”) by Pacnet Limited (formerly known as Connect Holdings Limited), together with its principal shareholder and ultimate control person, to purchase all issued ordinary shares of the Company (as well as shares to be issued under the Company’s option plan) at a purchase price of US$11.20 net in cash per share (the ”Offer Price”), without interest, is expressing no opinion to the Company’s shareholders with respect to the Offer or the Offer Price. All of the members of the Board are employees of Pacnet Limited and do not consider themselves independent with respect to the Offer or Pacnet Limited and are remaining neutral.The Board has not made, and does not intend to make, a determination as to whether the Offer or the Offer Price is fair to or in the best interests of PIL’s shareholders and is not making a recommendation regarding whether PIL’s shareholders should accept the Offer and tender their shares, and, if so, how many shares to tender, or reject the Offer and not tender their shares.The Board has determined that a shareholder’s decision on whether or not to tender its shares in the Offer and, if so, how many shares to tender, is a personal investment decision based upon each individual shareholder’s particular circumstances. The Board urges each shareholder to make its own decision regarding the Offer based on all of the available information, including the adequacy of the Offer Price in light of the shareholder’s own investment objectives, the shareholder’s views as to the Company’s prospects and outlook, and any other factors that the shareholder deems relevant to its investment decision. The Board also urges each shareholder to consult with its financial and tax advisors regarding the Offer.The Company has been advised that the Offer will expire at 12:00 midnight, New York City Time on 24 April 2008, 12:00 noon, Singapore Time on 24 April 2008, unless the Offer is extended. For further details regarding the Offer, please refer to Pacnet Limited’s Offer to Purchase that was made on 27 March 2008.About Pacific (S) Internet LimitedPacific Internet (S) Limited (formerly Nasdaq: PCNTF) is the largest telco-independent Internet Communications Service Provider by geographic reach in the Asia Pacific region. The Company has direct presence in Singapore, Hong Kong, the Philippines, Australia, India, Thailand and Malaysia. The Company delivers a comprehensive suite of Internet data, voice and video services to corporate business and consumer customers. For more information, visit .Cautionary StatementCertain statements in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include but are not limited to those using words such as “seek”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “plan”, “strategy”, “forecast” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “may” and “might”. These statements reflect the Company’s current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including but not limited to (i) changes in the economic, regulatory and political environments in the countries where PIL operates; (ii) changes and developments in technology and the Internet marketplace; (iii) PIL’s continued ability to develop and win acceptance of its products and services, which are offered in highly competitive markets; (iv) the success of its joint ventures and alliances; (v) exchange rates, particularly between the Singapore dollar and the U.S. dollar and other currencies in which PIL makes significant sales or in which its assets and liabilities are denominated; and (vi) the outcome of contingencies. In light of the many risks and uncertainties surrounding the Internet marketplace, the actual results could differ materially from those discussed in the forward-looking statements. PIL expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in PIL’s statements or change in events, conditions, or circumstances on which any such statement is based. For more information, please contact: Lorain Wong Tel: 852-2121-2973 Email: Pacnet Internet (S) Limited

Movie Gallery Creditors Vote Overwhelmingly to Support Plan of Reorganization

DOTHAN, Ala., April 4, 2008 /PRNewswire-FirstCall/ — Movie Gallery, Inc. (”Movie Gallery”) (OTC Pink Sheets: MOVIQ.PK) today announced that the voting results for the Company’s Second Amended Joint Plan of Reorganization (the “Plan”) have been filed with United States Bankruptcy Court for the Eastern District of Virginia, Richmond Division (the “Bankruptcy Court”). Voting by every class of creditors entitled to vote was overwhelmingly in support of the Plan. The Plan was accepted by more than 90ACIORFIPROCENTE of the approximately 1,500 creditors who voted on the Plan.A confirmation hearing on the Plan is scheduled for April 9, 2008. Movie Gallery believes that the Plan satisfies the requirements of the Bankruptcy Code and is hopeful that it will be confirmed by the Bankruptcy Court. Movie Gallery remains on schedule to emerge early in the second quarter of 2008.”Through our ongoing restructuring we have positioned Movie Gallery and Hollywood Video as stronger businesses, better equipped for long-term success,” said Joe Malugen, Chairman, President and Chief Executive Officer of Movie Gallery. “We are confident that our Plan represents a fair and equitable outcome for all of the creditors involved. We are pleased to have the strong support of our creditors and appreciate the continued loyalty of our customers, suppliers and employees.”Details of the voting results including votes on a class-by-class basis are available at .About Movie GalleryThe Company is the second largest North American video rental company with approximately 3,490 stores located in all 50 U.S. states and Canada operating under the brands Movie Gallery, Hollywood Video and Game Crazy. Since Movie Gallery’s initial public offering in August 1994, the Company has grown from 97 stores to its present size through acquisitions and new store openings. For more information about the Company, please visit our website: .Forward-looking StatementsThis press release, as well as other statements made by Movie Gallery may contain forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment, which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: (i) the ability of the Company to continue as a going concern; (ii) the ability of the Company to operate subject to the terms of the DIP Credit Agreement; (iii) the Company’s ability to obtain court approval with respect to motions in the Chapter 11 cases; (iv) the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases, including a plan consistent with the terms set forth in the plan term sheet attached to the Lock Up, Voting and Consent Agreement dated as of October 14, 2007 or the plan of reorganization attached to the plan support agreement dated January 22, 2008, both of which have been executed by the Company; (v) risks associated with a termination of the $150 million secured super-priority debtor in possession credit agreement and financing availability; (vi) risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a Chapter 11 trustee or to convert the cases to Chapter 7 cases; (vii) the ability of the Company to obtain and maintain normal terms with vendors and service providers; (viii) the Company’s ability to maintain contracts and leases that are critical to its operations; (ix) the potential adverse impact of the Chapter 11 cases on the Company’s liquidity or results of operations; (x) the ability of the Company to execute its business plans and strategy, including the operational restructuring initially announced in 2007, and to do so in a timely fashion; (xi) the ability of the Company to attract, motivate and/or retain key executives and associates; (xii) general economic or business conditions affecting the video and game rental and sale industry (which is dependent on consumer spending), either nationally or regionally, being less favorable than expected; and (xiii) increased competition in the video and game rental and sale industry. Other risk factors are listed from time to time in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006 and subsequent reports filed with the Securities and Exchange Commission. Movie Gallery disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise.Similarly, these and other factors, including the terms of any plan of reorganization ultimately confirmed, can affect the value of the Company’s various prepetition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan or plans of reorganization could result in holders of Movie Gallery’s common stock or other equity interests and claims relating to prepetition liabilities receiving no distribution on account of their interest and cancellation of their interests and their claims and cancellation of their claims. Under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that certain creditors or equity holders do not receive or retain property on account of their claims or equity interests under the plan. In light of the foregoing, the Company considers the value of the common stock and claims to be highly speculative and cautions equity holders that the stock and creditors that the claims may ultimately be determined to have no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Movie Gallery’s common stock or other equity interest or any claims relating to pre-petition liabilities. The proposed plan of reorganization currently provides that all of Movie Gallery’s common stock and other equity interests will be cancelled for no consideration. Contacts: Analysts and Investors: Thomas Johnson, Movie Gallery, Inc., 334-702-2400 Media: Andrew B. Siegel or Meaghan A. Repko of Joele Frank, Wilkinson Brimmer Katcher, 212-355-4449Movie Gallery, Inc.

1st Quarter 2008 Manhattan Residential Market Prices Jump as the Number of Sales Fall

NEW YORK, April 2, 2008 /PRNewswire/ — The just-released First Quarter 2008 Prudential Douglas Elliman Manhattan Market Overview reveals that, despite pricing continuing to increase, it is likely that the record number of sales in 2007 will not be repeated in 2008. Sales in the current quarter declined to levels seen two years ago. Factors including the reduction of available credit, less favorable mortgage terms, the national economy moving towards a recession and the specter of additional layoffs in the financial services sector over the next two years has begun to restrain the demand for Manhattan residential real estate. Record prices were influenced by gains in the luxury market.Still, the regional economy is performing well, tourism and hotel occupancy rates are at or near record levels and the New York City government is financially well positioned for the next two years. The US dollar has set new lows against several currencies, which continues to bring new sources of demand, with specific emphasis on new condo development projects.”This is a price sensitive market and buyers are becoming more conservative,” says Dottie Herman, President and CEO, Prudential Douglas Elliman. “There still are many buyers ready to purchase property, but no one is demonstrating a sense of urgency.”"We appear to have entered a transition period, as reflected in the sharp decline of sales this quarter and modest uptick in inventory,” says Jonathan Miller, President/CEO of Miller Samuel, the firm that prepared the report. “The sharp change in prices is reflective of greater activity for higher- priced apartments.”Highlights from the 1st Quarter Prudential Douglas Elliman Manhattan Market Overview include: — The median sales price increased 13.2ACIORFIPROCENTE to a record $945,276 over the prior year quarter result of $835,000. — The average price per square foot increased 20.5ACIORFIPROCENTE to a record $1,289 over the prior year quarter result of $1,070. — The average sales price increased 33.5ACIORFIPROCENTE to a record $1,722,991 over the prior year quarter result of $1,290,391. — The number of sales dropped 34.3ACIORFIPROCENTE this quarter to 2,282 units as compared to the 3,474 units sold in the prior year quarter. — Listing inventory increased 4.6ACIORFIPROCENTE to 6,194 units from the prior year quarter total of 5,923 units. — Days on market was 146 days this quarter, approximately two weeks longer than the 131 days seen in the same period last year. — Listing discount was 3.2ACIORFIPROCENTE, essentially unchanged from 2.6ACIORFIPROCENTE in the same period last year. Co-op MarketThe median sales price of a co-op this quarter was a record $750,000, up 11.1ACIORFIPROCENTE from last year at this time. Average price per square foot increased 15.7ACIORFIPROCENTE to a record $1,128 and the average sales price increased 23.1ACIORFIPROCENTE to a record $1,393,548 from the same period last year reflecting higher price gains at the upper end of the market. Inventory levels for co-ops fell 2ACIORFIPROCENTE to 2,869 units, as compared to the prior year quarter total of 2,9292 units. Co-op listings are comprised of nearly all re-sales.Condo MarketThe median sales price of a condo this quarter was a record $1,160,000, up 17.1ACIORFIPROCENTE from last year at this time. Average price per square foot increased 21.1ACIORFIPROCENTE to a record $1,416 and the average sales price increased 36.2ACIORFIPROCENTE to a record $1,981,802 from the same period last year, reflecting higher price gains at the upper end of the market. Inventory levels for condos totaled 3,325 units, up 11.1ACIORFIPROCENTE from the prior year quarter total of 2,994 units. New development comprised 47.5ACIORFIPROCENTE market share of condo listings, up from 29.9ACIORFIPROCENTE in the same period last year.Luxury Market (upper 10ACIORFIPROCENTE of all co-op and condo sales)The median sales price of a luxury apartment this quarter was a record $4,989,425, up 45.7ACIORFIPROCENTE from last year at this time. Average price per square foot increased 46.6ACIORFIPROCENTE to a record $2,556 and the average sales price increased 65.2ACIORFIPROCENTE to a record $7,667,413 from the same period last year.Loft Market (co-op and condo sales)The median sales price of a loft apartment this quarter was $1,600,000, down 1.6ACIORFIPROCENTE from last year at this time. The average price per square foot increased 2.6ACIORFIPROCENTE to $1,246 and the average sales price increased 7.8ACIORFIPROCENTE to a record $2,228,135 from the same period last year. — The report’s author, Jonathan J. Miller, President/CEO of Miller Samuel. Miller provides input for the Federal Reserve’s Beige Book, and serves on the NYC Mayor’s Economic Advisory Panel and the NYC Council Finance Committee Economic Advisory Board. On Matrix [matrix.millersamuel.com], he blogs about the real estate economy. — Dottie Herman is President & CEO of Prudential Douglas Elliman, the company that distributes the report. Prudential Douglas Elliman is New York City and Long Island’s preeminent residential broker, with nearly 70 offices, over 3,300 real estate agents and a network of national and international affiliates. Herman is frequently quoted in The New York Times, The Wall Street Journal, Crain’s, and The New York Post. Full data tables and analysis are immediately available upon request. ABOUT THE MANHATTAN MARKET OVERVIEWThe Manhattan Market Overview is New York’s first quarterly residential market report, and is developed from the largest and most sophisticated database of transactions in New York. The report was the first to track co-ops by price per square foot, to analyze square footage of all sales, to analyze the market by median sales price, to break out the market by bedrooms (Studio, 1, 2, 3, 4 ), to analyze market-wide apartment inventory, to analyze days on market and absorption, to drop price per room as an obsolete market indicator, to break out sales by specific neighborhoods and to analyze the uptown co-op and condo market.About Miller Samuel () — Miller Samuel is a New York based real estate appraisal services firm established in 1986. Miller Samuel provided property valuations of more than $5,000,000,000 in the past year. The company’s clients include domestic and international financial institutions, law firms, consulting firms, developers, employee relocation companies, co-op and condo boards, managing agents, individuals and government agencies. The firm developed what is now the largest database of Manhattan co-op and condo sales covering the sales market back to the late 1970s.Prudential Douglas Elliman Real Estate is New York’s largest residential brokerage, over 60 offices, more than 3,500 real estate agents and a network of national and international affiliates. Prudential Douglas Elliman, ranked in the top five of all real estate companies in the nation, closed $14 billion in sales in 2007. Prudential Douglas Elliman also controls a portfolio of real estate services, including Manhattan’s largest residential property manager, Douglas Elliman Property Management, as well as PDE Title and Preferred Empire Mortgage Company. For more information on Prudential Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, visit the Prudential Douglas Elliman site at . Prudential Douglas Elliman

Algonquin Power Income Fund announces first quarter 2008 financial results release and conference call dates

OAKVILLE, ON, April 3 /PRNewswire-FirstCall/ — Algonquin Power Income Fund (”Algonquin Power”) (TSX: APF.UN) today announced plans to release first quarter 2008 financial results the afternoon of Thursday, May 8, 2008. Algonquin Power will hold an earnings conference call at 10:00 a.m. eastern time on Friday, May 9, 2008, hosted by executive directors, David Kerr and Chris Jarratt. Conference call details are as follows: Date: Friday, May 9, 2008 Start Time: 10:00 a.m. eastern Phone Number: Toll free within North America: 1-800-732-0232 or local 416-644-3414. Conference ID #: 21267649For those unable to attend the live call, a digital recording will be available for replay two hours after the call by dialing 1-877-289-8525 or 416-640-1917 access code 21267649, followed by the number sign, from May 9, 2008 until May 16, 2008.About Algonquin PowerAlgonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of clean, renewable power generation and sustainable infrastructure assets across North America, including 42 renewable energy facilities, 12 thermal energy facilities, and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide stable earnings through a diversified portfolio of renewable energy assets. Algonquin Power’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index. Algonquin Power Income Fund

DVL, Inc. Reports Results of Operations for the Year Ended December 31, 2007

NEW YORK, April 3, 2008 /PRNewswire-FirstCall/ — DVL, Inc. (BULLETIN BOARD: DVLN) announced its operating results for the year ended December 31, 2007.DVL’s income from continuing operations for the year ended December 31, 2007 was $2,770,000 ($.08 basic and $.05 diluted net income per share) as compared to $1,826,000 ($.05 basic and $.03 diluted net income per share) for the year ended December 31, 2006. The principal reason for the increase was that in 2007 DVL recognized $954,000 ($.03 basic and $.02 diluted per share) of gains on satisfaction of mortgage loans.The weighted average shares outstanding decreased due to the repurchase of shares in March 2007.Shareholder’s equity increased to $21,686,000 as of December 31, 2007 from $19,909,000 as of December 31, 2006.This press release contains statements which constitute 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. Included are statements regarding the intent, belief and/or current expectations of the Company and its management. The Company’s stockholders and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements. Such risks and uncertainties include, among other things, general economic conditions, and the actual performance of the portfolios of periodic payment receivables and other risks and uncertainties that are discussed herein and in the Company’s reports filed with the Securities and Exchange Commission.DVL, Inc. is a commercial finance and real estate company which owns and services real estate, commercial mortgages and other diversified commercial and consumer finance assets. For more information, contact Henry Swain at (212) 350-9900. Statistical table follows: DVL, INC. ANNUAL RESULTS OF OPERATIONS (in thousands except share and per share data) Year Ended December 31, 2007 2006 Revenues $10,974 $9,469 Income from continuing operations $2,770 $1,826 Loss from discontinued operations (488) (67) Net income $2,282 $1,759 Basic earnings per share: Income from continuing operations $.08 $.05 Loss from discontinued operations (.01) (.00) Net income $.07 $.05 Diluted earnings per share: Income from continuing operations $.05 $.03 Loss from discontinued operations (.01) (.00) Net income $.04 $.03 Weighted average shares outstanding - basic 34,083,726 38,315,466 Effect of dilutive securities 17,672,948 20,405,097 Weighted average shares outstanding - diluted 51,756,674 58,720,563DVL, Inc.