Archive for 'Board of directors'

Weight Watchers International, Inc. (NYSE: WTW) today announced that its Board of Directors declared its quarterly cash dividend of $0.175 per share of common stock, which corresponds to an annual dividend rate of $0.70 per share.  This quarterly dividend will be payable on October 14, 2011 to shareholders of record at the close of business on September 30, 2011.

About Weight Watchers International, Inc.

Weight Watchers International, Inc. is the world’s leading provider of weight management services, operating globally through a network of Company-owned and franchise operations. Weight Watchers holds over 45,000 meetings each week where members receive group support and learn about healthy eating patterns, behavior modification and physical activity. WeightWatchers.com provides innovative, subscription weight management products over the Internet and is the leading Internet-based weight management provider in the world. In addition, Weight Watchers offers a wide range of products, publications and programs for those interested in weight loss and weight control.

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 management’s current expectations and beliefs, as well as a number of assumptions concerning future events. These statements are subject to risks, uncertainties, assumptions and other important factors. Readers are cautioned not to put undue reliance on such forward-looking statements because actual results may vary materially from those expressed or implied. The reports filed by the Company pursuant to United States securities laws contain discussions of these risks and uncertainties. The Company assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are advised to review the Company’s filings with the United States Securities and Exchange Commission (which are available from the SEC’s EDGAR database at www.sec.gov, at various SEC reference facilities in the United States and via the Company’s website at www.weightwatchersinternational.com ).

Contact Information:
Investors:
Weight Watchers International, Inc. Brainerd Communicators, Inc.
Sarika Sahni Corey Kinger
Investor Relations (212) 986-6667
(212) 589-2751

http://www.weightwatchers.com

The Corporate Executive Board Company (“CEB” or “the Company”) (NYSE: EXBD) today announced that its Board of Directors has approved a new $50 million stock repurchase program, which is authorized through Dec. 31, 2012.  During the third quarter of 2011, CEB also utilized the remaining amount available under its previous stock repurchase plan, which was approximately $18.3 million as of June 30, 2011.

“The Board’s decision to implement a new share repurchase program reflects confidence in our growth opportunities and in our ability to generate strong cash flows,” said Thomas Monahan, Chairman and Chief Executive Officer.  “Our priorities for capital allocation remain unchanged:  maintain a strong financial position, preserve flexibility for strategic investments, and intelligently distribute cash to shareholders – primarily through our dividend.  This new share repurchase program supplements this strategy by allowing us to opportunistically offset historical and future dilution from employee equity compensation programs.”

Repurchases under the program may be made through open market purchases or privately negotiated transactions. The timing of repurchases and the exact number of shares of common stock to be repurchased will be determined by CEB’s management, in its discretion, and will depend upon market conditions and other factors. The program will be funded using the Company’s cash on hand and cash generated from operations.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements using words such as estimates, expects, anticipates, projects, plans, intends, believes, forecasts and variations of such words or similar expressions are intended to identify forward-looking statements. In addition, statements about anticipated future financial results, such as our 2011 annual guidance, are forward-looking statements. You are hereby cautioned that these statements are based upon our expectations at the time we make them and may be affected by important factors including, among others, the factors set forth below and in our filings with the U.S. Securities and Exchange Commission, and consequently, actual operations and results may differ materially from the results discussed in the forward-looking statements. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. Factors that could cause actual results to differ materially from those indicated by forward-looking statements include, among others, our dependence on renewals of our membership-based services, the sale of additional programs to existing members and our ability to attract new members, our potential failure to adapt to changing member needs and demands, our potential inability to attract and retain a significant number of highly skilled employees, risks associated with the results of restructuring plans, fluctuations in operating results, our potential inability to protect our intellectual property rights, our potential exposure to loss of revenue resulting from our unconditional service guarantee, exposure to litigation related to our content, various factors that could affect our estimated income tax rate or our ability to use our existing deferred tax assets, changes in estimates or assumptions used to prepare our financial statements, our potential inability to make, integrate and maintain acquisitions and investments, the amount and timing of the benefits expected from acquisitions and investments, and our potential inability to effectively anticipate, plan for and respond to changing economic and financial markets conditions, especially in light of ongoing uncertainty in the worldwide economy and possible volatility of our stock price. These and other factors are discussed more fully in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of our filings with the U.S. Securities and Exchange Commission, including, but not limited to, our 2010 Annual Report on Form 10-K. The forward-looking statements in this press release are made as of Aug. 29, 2011, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

ABOUT THE CORPORATE EXECUTIVE BOARD COMPANY

By identifying and building on the proven best practices of the world’s best companies, CEB helps senior executives and their teams drive corporate performance.  CEB offers comprehensive data analysis, research and advisory services that align to executive leadership roles and key recurring decisions. CEB tools, insights, and analysis empower member companies to focus efforts, move quickly, and address emerging and enduring business challenges with confidence.  CEB’s client and member network includes 85 percent of the Fortune 500, 50 percent of the Dow Jones Asian Titans, and 70 percent of the FTSE 100.  It spans more than 50 countries, 5,300 individual organizations, and 225,000 business professionals.  For more information, visit www.executiveboard.com.

CONTACT: Richard S. Lindahl, Chief Financial Officer, +1-571-303-6956, c/o jconnor@executiveboard.com

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

CPI Corp. (NYSE: CPY) today announced that its Board of Directors declared a third quarter cash dividend of 25 cents per share.  The dividend will be paid on August 15, 2011 to shareholders of record as of August 8, 2011.  As of July 28, 2011, CPI had 7,042,484 common shares outstanding.

About CPI Corp.

For more than 60 years, CPI Corp. (NYSE: CPY) has been dedicated to helping customers conveniently create cherished photography portrait keepsakes that capture a lifetime of memories.  Headquartered in St. Louis, Missouri, CPI Corp. provides portrait photography services at approximately 3,000 locations in the United States, Canada, Mexico and Puerto Rico and offers on location wedding photography and videography services through an extensive network of contract photographers and videographers.  CPI’s conversion to a fully digital format allows its studios and on location business to offer unique posing options, creative photography selections, a wide variety of sizes and an unparalleled assortment of enhancements to customize each portrait – all for an affordable price.  For more information about CPI visit www.cpicorp.com.

http://www.cpicorp.com

Arkansas Best Corporation (Nasdaq: ABFS) today announced that Steven L. Spinner, current President and Chief Executive Officer of United Natural Foods, Inc. (Nasdaq: UNFI) has been appointed to the Arkansas Best Corporation Board of Directors, effective July 21, 2011.

“As the current chief executive of a publicly-traded company for which efficient distribution of goods is so important, Steve Spinner will be a great resource for Arkansas Best,” said Judy R. McReynolds, Arkansas Best President and Chief Executive Officer. “We are excited and pleased to welcome him to our board.”

Mr. Spinner, 51, has led UNFI and served as a member of its board since September 2008.  Prior to joining UNFI, Mr. Spinner was President and Chief Executive Officer of Performance Food Group Company (“PFG”), the third largest broadline food service distributor in the United States.  He served in several capacities during his time at PFG.  From October 1997 to October 2000, Mr. Spinner was the President of AFI Foodservice Distributors, Inc., a wholly owned subsidiary of PFG.

As an Arkansas Best board member, Mr. Spinner will also serve on the board’s Audit Committee.

Arkansas Best Corporation, headquartered in Fort Smith, Arkansas, is a transportation holding company. ABF Freight System, Inc., Arkansas Best’s largest subsidiary, has been in continuous service since 1923. ABF has evolved from a local less-than-truckload (LTL) motor carrier into a global provider of customizable supply chain solutions.  More information is available at arkbest.com and abf.com.

Contact: Mr. David Humphrey, Vice President of Investor Relations & Corporate Communications
Telephone: (479) 785-6200

http://www.arkbest.com
http://www.abfs.com

Digital Realty Trust, Inc. (NYSE: DLR), a leading global wholesale datacenter provider, today announced that its Board of Directors has authorized quarterly common and preferred stock dividends for the third quarter of 2011.

Common Stock Dividend

Digital Realty Trust’s Board of Directors authorized a quarterly common stock dividend of $0.68 per share to common stockholders of record as of the close of business on September 15, 2011.  The common stock dividend will be paid on September 30, 2011.

Series C Cumulative Convertible Preferred Stock Dividend

The Company’s Board of Directors authorized a preferred stock dividend of $0.273438 per share to holders of record of the Company’s 4.375% Series C Cumulative Convertible Preferred Stock as of the close of business on September 15, 2011. The Series C Cumulative Convertible Preferred Stock dividend will be paid on September 30, 2011.

Series D Cumulative Convertible Preferred Stock Dividend

The Company’s Board of Directors authorized a preferred stock dividend of $0.34375 per share to holders of record of the Company’s 5.500% Series D Cumulative Convertible Preferred Stock as of the close of business on September 15, 2011. The Series D Cumulative Convertible Preferred Stock dividend will be paid on September 30, 2011.

About Digital Realty Trust, Inc.

Digital Realty Trust, Inc. focuses on delivering customer driven data centre solutions by providing secure, reliable and cost effective facilities that meet each customer’s unique data centre needs. Digital Realty Trust’s customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust’s 96 properties, excluding two properties held as investments in unconsolidated joint ventures, comprise approximately 16.9 million square feet as of April 28, 2011, including 2.2 million square feet of space held for redevelopment. Digital Realty Trust’s portfolio is located in 29 markets throughout Europe, North America, Singapore and Australia. Additional information about Digital Realty Trust is included in the Company Overview, which is available on the Investors page of Digital Realty Trust’s website at http://www.digitalrealtytrust.com.

Safe Harbor Statement

This press release contains forward-looking statements, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the amount and timing of expected payment of dividends on our common stock and preferred stock.  These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions; current local economic conditions in our geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; increased interest rates and operating costs; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings or our breach of covenants or other terms contained in our loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our inability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully integrate and operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data center space; our inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to reporting companies; our failure to maintain our status as a REIT; possible adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including changes in real estate and zoning laws and increases in real property tax rates.  For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the United States Securities and Exchange Commission, including the Company’s annual report on Form 10-K for the year ended December 31, 2010 and subsequent quarterly reports on Form 10-Q.  The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For Additional Information:
A. William Stein Pamela Matthews Garibaldi
Chief Financial Officer and Vice President, Investor Relations and
Chief Investment Officer Corporate Marketing
Digital Realty Trust Digital Realty Trust
+1 415-738-6500 +1 415-738-6532

http://www.digitalrealtytrust.com

Cedar Fair (NYSE: FUN) Elects New Officers

— France Becomes Company’s Fourth New Independent Director Since 2008 —

— CEO Dick Kinzel Discusses Optimistic Outlook in “State of the Company” Remarks —

— Matt Ouimet Has Immersed Himself in Operations and Planning Since Joining Company as President on June 20, 2011 —

CEDAR FAIR ENTERTAINMENT COMPANY FRANCE  Gina D. France.  (PRNewsFoto/Cedar Fair Entertainment Company) SANDUSKY, OH UNITED STATES

Cedar Fair (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that unitholders elected Gina France to a three-year term as a Class III Director of its general partner, Cedar Fair Management, Inc., effective immediately.  France, 52, is the fourth new independent director added to the Cedar Fair Board since 2008 and brings more than 30 years of strategic planning, investment banking and corporate finance experience to the position.  Gina received favorable votes from 65% of the units present and entitled to vote at the meeting and will replace Richard Ferreira who is retiring from the Board.

The Company also announced that 92% of unitholders voted in favor of the proposal to reappoint Deloitte and Touche LLP as the Company’s independent auditors, and 57% of unitholders voted in favor of the Company’s executive compensation proposal.  Additionally, unitholders approved the Board’s proposal to conduct advisory votes on executive compensation annually.

“We truly appreciate the continued support of our unitholders,” said Dick Kinzel, chief executive officer of Cedar Fair.  “We look forward to adding Gina to our strong and independent Board.  Her extensive experience in helping management teams successfully execute a broad spectrum of strategic initiatives and financial transactions will be a tremendous asset to Cedar Fair as we look to effectively maximize value for our investors over the long term.”

As previously announced, David Paradeau, 68, and Darrel Anderson, 66, at the request of the Nominating Committee, agreed not to stand for re-election to the Company’s Board at the Annual Meeting in order to reduce the Board to seven directors. This reduction is in accordance with a previously announced agreement between Cedar Fair and Q Funding III L.P. and Q4 Funding L.P. (together with Geoffrey Raynor, “Q Investments”), which together beneficially own 10,021,418 units, or approximately 18.1% of the outstanding units of Cedar Fair.  The Company had expanded the Board to nine directors in June 2010 to accommodate the addition of two directors suggested at that time by Q Investments.

Following the formal portion of the Annual Meeting of Unitholders, Kinzel provided a brief “State of the Company” address, which included the following highlights:

  • Sales trends through this past weekend are positive.  Year-to-date revenues have increased 2% from the same period a year ago, to approximately $372 million.  Kinzel also commented that he believes the Company’s growth goals in the range of $975 million to $1.0 billion in revenues, and full-year adjusted EBITDA of $350 million to $370 million  are attainable.
  • The Company has paid out almost $1.5 billion in distributions to unitholders, or $29.20 per unit since it went public in 1987, and has  now paid a distribution in each of the last 25 years.  Kinzel stated, “This demonstrates that distributions are – and always have been – among the highest priorities of the Company and the Board, along with making strategic investments to grow the business, and continuing to reduce our debt.”
  • Matt Ouimet, the Company’s recently named president, has “hit the ground running” since joining Cedar Fair on June 20, 2011. “Matt has tremendous passion for the industry and enthusiasm for our properties,” said Kinzel. As previously announced, Ouimet will succeed Kinzel as chief executive officer when Kinzel retires on January 3, 2012. “Matt is intelligent and thoughtful, and he has a keen understanding of what it takes to keep guests coming back to our parks,” Kinzel continued. “He is already immersed in operations and planning at our properties and I have no doubt he will do a terrific job in leading this Company.”

 

About Cedar Fair

Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Amusement parks in the Company’s northern region include two in Ohio: Cedar Point, consistently voted “Best Amusement Park in the World” in Amusement Today polls, and Kings Island; as well as Canada’s Wonderland, near Toronto; Dorney Park, PA; Valleyfair, MN; and Michigan’s Adventure, MI.  In the southern region are Kings Dominion, VA; Carowinds, NC; and Worlds of Fun, MO.  Western parks in California include: Knott’s Berry Farm; California’s Great America; and Gilroy Gardens, which is managed under contract.

This news release and prior releases are available online at www.cedarfair.com.

Contact: Stacy Frole (419) 627-2227

http://www.cedarfair.com

Astoria (NYSE: AF) Appoints New President and CEO

Astoria (NYSE: AF) Appoints New President and CEO

Astoria Financial Corporation (NYSE: AF) (the “Company”), the holding company for Astoria Federal Savings and Loan Association (the “Bank”), announced today that the Boards of Directors of both organizations, at their board meetings held yesterday, appointed Monte N. Redman, 60, President and Chief Executive Officer of both organizations effective July 1, 2011.  Mr. Redman, currently President and Chief Operating Officer of the Company and the Bank, will be succeeding George L. Engelke, Jr., 72, the current Chairman and Chief Executive Officer, who, in January, announced his intention to step down as CEO on July 1, 2011.  Mr. Engelke will continue to serve both organizations as Chairman of the Board.  Mr. Redman was also elected a director of both organizations, effective July 1, 2011.

Commenting on Mr. Redman’s appointment Mr. Engelke noted, “I am very pleased that the Board has appointed Monte Redman to succeed me as CEO.  With over 34 years of experience at Astoria in various capacities, including the past three years as President and Chief Operating Officer, Monte has clearly demonstrated his ability to serve in this position.”

Astoria Financial Corporation, with assets of $17.7 billion, is the holding company for Astoria Federal Savings and Loan Association.  Established in 1888, Astoria Federal, with deposits in New York totaling $11.5 billion, is the largest thrift depository in New York and embraces its philosophy of “Putting people first” by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple delivery channels, including its enhanced website, www.astoriafederal.com.  Astoria Federal commands the fourth largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states.  Astoria Federal originates mortgage loans through its banking and loan production offices in New York, an extensive broker network covering fourteen states, primarily along the East Coast, and the District of Columbia, and through correspondent relationships covering fifteen states and the District of Columbia.

http://www.astoriafederal.com

– Determines that proposal fails to recognize full value of Cephalon shares

Cephalon, Inc. (NASDAQ: CEPH) announced today that after a thorough review, its Board of Directors has formally rejected Valeant Pharmaceuticals International, Inc.’s March 29th unsolicited proposal to purchase the Company for $73 per share.  In a letter to Valeant CEO J. Michael Pearson, the full text of which is included below, the Cephalon Board of Directors concluded, after an analysis by its financial and legal advisors, that Valeant’s non-binding proposal is inadequate and not in the best interests of Cephalon’s shareholders.

The following reasons, among others, support the Board’s conclusion:

  • The Valeant Non-Binding Proposal Does Not Fully Reflect Cephalon’s Standalone Value. The Board determined that Valeant’s proposed price significantly undervalues the Company, including the greater value obtainable from the Company’s strategic plan, especially the value inherent in the Company’s diversified and robust portfolio of marketed and pipeline products.  The Board believes that the Valeant non-binding proposal is an opportunistic attempt by Valeant to shift this value to Valeant and its shareholders and away from the Company’s shareholders.
  • Valeant Values Cephalon Using “Worst-Case Scenario.” By Valeant’s own admission, its analysis of Cephalon’s value is based on a worst-case scenario, which is an inappropriate methodology.
  • Valeant’s Timing is Opportunistic. The 30-day average Cephalon share price of $56.74 on which Valeant based their proposal is near the stock’s 52-week low.  Valeant’s proposal represents virtually no premium to Cephalon’s 52-week high.
  • The Valeant Non-Binding Proposal Ascribes Little to No Value to Cephalon’s Pipeline. Cephalon has created one of the broadest pipelines in the industry, with 10 late-stage product candidates targeted at novel and “best-in-class” therapeutics.  This includes six indications with blockbuster potential which are projected to begin launching in the next three years.  These programs represent tremendous value that is not reflected in Valeant’s current proposal.  Additionally, this proposal ignores the proven ability of the Cephalon Board and management to successfully identify, develop and commercialize pipeline opportunities.

 

Kevin Buchi, Cephalon’s Chief Executive Officer, said “This is all about shareholder value.  The Cephalon Board of Directors is committed to maximizing value for our shareholders, and we take this responsibility very seriously.”

On March 30th, Valeant stated that it intended to commence a consent solicitation process during the week of April 4th to remove all of Cephalon’s directors and replace them with Valeant’s nominees.  In the interests of allowing consideration of this matter on a timely basis by Cephalon’s shareholders and significant participation in the process by Cephalon’s many long-term shareholders, pursuant to the Company’s by-laws, the Cephalon Board of Directors has set a record date for the consent solicitation of Friday, April 8, 2011.  The consent solicitation period will last for 60 days from the date of the earliest dated consent delivered to the Company.

Deutsche Bank Securities Inc. and BofA Merrill Lynch are acting as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP is acting as Cephalon’s legal counsel.

April 5, 2011

J. Michael Pearson

Chairman and Chief Executive Officer

Valeant Pharmaceuticals International, Inc.

14 Main Street, Suite 140

Madison, New Jersey 07940

Dear Mr. Pearson:

After a thorough review, the Cephalon Board of Directors has unanimously concluded that your March 29th unsolicited non-binding proposal is inadequate and not in the best interests of Cephalon shareholders.  In reaching this conclusion, the Board took into account the advice of its independent financial advisors.  The Cephalon Board believes that your proposed price significantly undervalues Cephalon, its key assets and its prospects.

From the standpoint of the Cephalon shareholder, a transaction with Valeant at this time and at the price you proposed would mean foregoing the greater value obtainable from Cephalon’s strategic plan, including the value inherent in our diversified and robust portfolio of marketed and pipeline products.  Cephalon’s Board and management will, as we always have, continue to review, develop and adapt our plan to maximize value for our shareholders.

Sincerely,

J. Kevin Buchi

Chief Executive Officer

Cephalon, Inc.

cc: Cephalon Board of Directors

About Cephalon, Inc.

Cephalon is a global biopharmaceutical company dedicated to discovering, developing and bringing to market medications to improve the quality of life of individuals around the world.  Since its inception in 1987, Cephalon has brought first-in-class and best-in-class medicines to patients in several therapeutic areas.  Cephalon has the distinction of being one of the world’s fastest-growing biopharmaceutical companies, now among the Fortune 1000 and a member of the S&P 500 Index, employing approximately 4,000 people worldwide.  The company sells numerous branded and generic products around the world.  In total, Cephalon sells more than 150 products in nearly 100 countries.  More information on Cephalon and its products is available at http://www.cephalon.com/.

Additional Information:

Cephalon, Inc. (the “Company”), its directors and certain of its officers and employees may be deemed to be participants in the solicitation of consent revocations from stockholders in connection with a consent solicitation by Valeant Pharmaceuticals International, Inc. (“Valeant”) to replace the Company’s current Board of Directors with nominees of Valeant. The Company plans to file a consent revocation statement with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of written consent revocations in connection with Valeant’s consent solicitation (the “Consent Revocation Statement”). Information regarding the names of the Company’s directors and other participants in the solicitation and their respective interests in the Company by security holdings or otherwise is set forth in the Company’s proxy statement relating to its 2011 annual meeting of stockholders, which may be obtained free of charge at the SEC’s website at http://www.sec.gov and the Company’s website at http://www.cephalon.com.  Additional information regarding the interests of such potential participants will be included in the Consent Revocation Statement and other relevant documents to be filed with the SEC in connection with the consent solicitation.

Promptly after filing its definitive Consent Revocation Statement with the SEC, the Company will mail the definitive Consent Revocation Statement and a form of white consent revocation card to each stockholder entitled to deliver a written consent in connection with the consent solicitation.

WE URGE INVESTORS TO READ THE CONSENT REVOCATION STATEMENT (INCLUDING ANY SUPPLEMENTS THERETO), THE COMPANY’S  SOLICITATION/RECOMMENDATION STATEMENT REGARDING ANY TENDER OFFER THAT MAY BE COMMENCED BY VALEANT, AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.  Stockholders will be able to obtain, free of charge, copies of the Consent Revocation Statement, the solicitation/recommendation statement and any other documents filed by the Company with the SEC in connection with the consent solicitation or any tender offer at the SEC’s website at http://www.sec.gov, at the Company’s website at http://www.cephalon.com, or by contacting Innisfree M&A Incorporated at (877) 800-5186 (banks and brokers call collect at (212) 750-5833).
Media:
Cephalon Contacts:

Fritz Bittenbender
O: 1 610 883 5855
C: 1 610 457 7041
fbittenb@cephalon.com

Natalie de Vane
O: 1 610 727 6536
C: 1 610 999 8756
ndevane@cephalon.com

Steve Lipin/Jennifer Lowney
Brunswick Group
O: 1 212 333 3810

Investors:
Cephalon Contacts

Chip Merritt
O: 1 610 738 6376
cmerritt@cephalon.com

Joseph Marczely
O: 1 610 883 5894
jmarczel@cephalon.com

Alan Miller / Scott Winter
Innisfree M&A Incorporated
O: 1 212 750 5833

http://www.cephalon.com

The Board of Directors of Peoples Bancorp Inc. (Nasdaq: PEBO) yesterday declared a cash dividend of $0.10 per common share, payable April 18, 2011, to common shareholders of record on April 4, 2011.

The first quarter dividend represents a payout of approximately $1.1 million based on 10.5 million common shares currently outstanding and an annualized dividend yield of 3.32% based on the closing stock price of Peoples’ common shares of $12.05 on March 24, 2011.

Peoples also announced it intends to release first quarter 2011 results of operations before the market opens on Tuesday, April 26, 2011, and host a facilitated conference call at 11:00 a.m. Eastern Daylight Saving Time on the same date.  A simultaneous Webcast of the conference call audio will be available on Peoples’ website, www.peoplesbancorp.com, in the “Investor Relations” section.

Peoples Bancorp Inc. is a diversified financial products and services company with $1.8 billion in assets, 47 locations and 40 ATMs in Ohio, West Virginia and Kentucky.  Peoples makes available a complete line of banking, investment, insurance, and trust solutions through its financial service units – Peoples Bank, National Association; Peoples Financial Advisors (a division of Peoples Bank) and Peoples Insurance Agency, LLC, which includes the Putnam and Barengo divisions.  Peoples’ common shares are traded on the NASDAQ Global Select Market® under the symbol “PEBO”, and Peoples is a member of the Russell 3000 index of US publicly traded companies.  Learn more about Peoples at www.peoplesbancorp.com.

CONTACT: Edward G. Sloane, Chief Financial Officer and Treasurer, +1-740-373-3155

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

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance and settlement services for real estate transactions, today announced that its board of directors has approved a new stock repurchase plan, which authorizes the repurchase of up to $150 million of the company’s common stock. Purchases may be made from time to time by the company in the open market at prevailing market prices or in privately negotiated transactions.

The board also declared a regular quarterly cash dividend of 6 cents per common share. The cash dividend is payable on April 15, 2011, to stockholders of record as of March 31, 2011.

About First American

First American Financial Corporation is a leading provider of title insurance and settlement services to the real estate and mortgage industries, that traces its heritage back to 1889. First American and its affiliated companies also provide title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $3.9 billion in 2009, the company offers its products and services directly and through its agents and partners in all 50 states and abroad. More information about the company can be found at www.firstam.com .

Media Contact: Investor Contact:
Carrie Navarifar Craig Barberio
Media Relations Manager Director of Investor Relations
First American Financial Corporation First American Financial Corporation
(714) 250-3298 (714) 250-5214

CONTACT: Media, Carrie Navarifar, Media Relations Manager, +1-714-250-3298, or Investors, Craig Barberio, Director of Investor Relations, +1-714-250-5214, both of First American Financial Corporation

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

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