Archive for 'Securities Act of 1933'

New products expand treatment options for healthcare providers

Boston Scientific Corporation (NYSE: BSX) today announced the acquisition of two novel technologies to treat peripheral chronic total occlusions (CTOs).  These acquisitions add technology platforms that complement the Company’s world-class portfolio of devices for lower extremity peripheral artery disease.

Boston Scientific acquired a re-entry catheter in November 2010 from S.I. Therapies, Ltd., based in Israel.  The Company will also acquire an intraluminal CTO crossing device through its acquisition of Sunnyvale, CA-based ReVascular Therapeutics, Inc., which is expected to close this month.  Worldwide launches of these devices in approved markets are planned later this year.

“Having used both devices, I am impressed with their simplicity and effectiveness,” said Dierk Scheinert, M.D., Heart Center Leipzig, and Professor of Medicine at the University of Leipzig.  “Access to these technologies will greatly enhance therapeutic options and provide physicians with new, intuitive solutions for treating challenging CTOs.”

A CTO, which represents a complete artery blockage, typically cannot be treated with standard endovascular devices such as guidewires and other catheter-based technologies.  CTO devices permit endovascular treatment in cases that otherwise might require a patient to undergo surgery or lower extremity amputation.  By offering both a re-entry and intraluminal crossing device, Boston Scientific will be well positioned to help physicians address the challenges of treating complex peripheral lesions.

“The purchase of these innovative CTO technologies demonstrates a continued commitment to expanding our peripheral interventions business,” said Joe Fitzgerald, Senior Vice President and President of Boston Scientific’s Endovascular Unit.  “Not only will they augment our products for treating patients with lower extremity peripheral artery disease, but they will strengthen our clinical relationships with customers by offering them additional ways to deliver patient care.”

“These acquisitions demonstrate our continued strategic execution of realigning and strengthening our portfolio in areas with high-growth potential,” said Ray Elliott, President and Chief Executive Officer of Boston Scientific.  “Our Priority Growth Initiatives include peripheral vascular disease, in which a significant number of patients remain undiagnosed or untreated.  Addressing these challenges through use of less-invasive devices could greatly improve the care these patients receive.”

Together, the transactions are expected to have an immaterial impact on GAAP and adjusted earnings in 2011 and 2012 and be accretive thereafter.  Transactional financial terms were not disclosed.

About Boston Scientific

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties.  For more information, please visit: www.bostonscientific.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains 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.  Forward-looking statements may be identified by words like “anticipate,” “expect,” “project,” “believe,” “plan,” “estimate,” “intend” and similar words.  These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance.  These forward-looking statements include, among other things, statements regarding the market for peripheral vascular disease, impact of the acquisitions on financial performance, acquisition strategy, the timing and success of product launches and product performance.  If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements.  These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release.  As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.

Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; integration of acquired companies; closing of announced acquisitions and divestitures; financial market conditions; and future business decisions made by us and our competitors.  All of these factors are difficult or impossible to predict accurately and many of them are beyond our control.  For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter.  We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.  This cautionary statement is applicable to all forward-looking statements contained in this document.

CONTACT: Erik Kopp
508-650-8660 (office)
Media Relations
Boston Scientific Corporation
Sean Wirtjes
508-652-5305 (office)
Investor Relations
Boston Scientific Corporation

Gladstone Commercial Corporation (Nasdaq: GOOD) (the “Company”) today announced that it has priced its public offering of 725,000 shares of its common stock at a price to the public of $18.35 per share. The offering was increased in size from the originally contemplated 675,000 shares of common stock. The Company has also granted the underwriters a 30-day option to purchase up to 108,750 additional shares of common stock on the same terms and conditions to cover over-allotments, if any. Subject to customary conditions, the offering is expected to close on or about February 2, 2011. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $12,438,750 (exclusive of the underwriters’ overallotment option). Janney Montgomery Scott LLC is serving as the sole book-runner and lead manager for the offering. J.J.B. Hilliard, W.L. Lyons, LLC is serving as a co-manager.

The Company intends to use the net proceeds from this offering to repay existing indebtedness, including a portion of the outstanding balance of its new line of credit, and for general corporate purposes.

To obtain a copy of the prospectus and the final prospectus supplement for this offering, please contact: Janney Montgomery Scott LLC, 60 State Street, Boston, MA 02109, Attention: Equity Syndicate Department or prospectus@janney.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Gladstone Commercial Corporation is a publicly-traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans.

All statements contained in this press release, other than historical facts, may 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. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements. Readers should not rely upon forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the Company’s business, financial condition, liquidity, results of operations, funds from operations or prospects to differ materially from those expressed in or implied by such statements. Such risks and uncertainties are disclosed under the caption “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009, as filed with the SEC on February 24, 2010, our Quarterly Reports on Form 10-Q, as filed with the SEC on May 3, 2010 and November 1, 2010 and our other filings with the Securities and Exchange Commission.  The Company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Gladstone Commercial Corporation, Investor Relations, +1-703-287-5893

Taylor Capital Group, Inc. (Nasdaq: TAYC) (the “Company”), today announced that it has entered into definitive agreements to sell $25 million of a new series of convertible preferred stock to existing investors, including substantial investments from directors Harrison Steans, Jennifer Steans and Bruce Taylor and also from Tom Brown on behalf of Second Curve Capital. Upon stockholder approval, the preferred stock will automatically convert into shares of the Company’s common stock at a conversion price of $10.00 per share.  The Company plans to obtain stockholder approval to convert the preferred stock into common stock at the Company’s 2011 annual meeting of stockholders, which is scheduled for the second quarter of 2011.

In commenting on the capital raise, Harrison I. Steans, Chairman of the Taylor Capital Group Executive Committee, said, “Jennifer and I welcome the opportunity to demonstrate through this investment our confidence and strong support for Mark Hoppe and the rest of his management team as they lead Taylor Capital in implementing its strategic plan.”

Subject to customary conditions, the transaction is expected to close near the end of the first quarter of 2011.  The Company intends to use the proceeds to provide additional capital to the Company and Cole Taylor Bank and for general corporate purposes.

ADDITIONAL INFORMATION

Any securities issued in the private placement described in this press release will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and unless so registered, any such securities sold may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Taylor Capital Group intends to file with the SEC a proxy statement and other relevant documents in connection with the 2011 annual meeting of stockholders, and such proxy statement will be distributed to Taylor Capital Group’s stockholders prior to the annual meeting. Investors and stockholders are urged to read the proxy statement, the documents incorporated by reference in the proxy statement, the other documents filed with the SEC and the other relevant documents when they become available because they will contain important information about the matters before the stockholders at the annual meeting, including the issuance of shares of common stock upon conversion of the preferred stock being sold in the private placement described in this press release.

Investors will be able to obtain the proxy statement and other relevant, filed documents described in this press release free of charge at the SEC’s web site (http://www.sec.gov). In addition, documents filed with the SEC by Taylor Capital Group are available free of charge from Taylor Capital Group’s Investor Relations Department at 847/653-7166, or from its website at http://www.taylorcapitalgroup.com.

Taylor Capital Group and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from Taylor Capital Group’s stockholders at the 2011 annual meeting of stockholders or any adjournment or postponement thereof. Information about Taylor Capital Group’s directors and executive officers will be contained in its proxy statement to be filed with the SEC in connection with its 2011 annual meeting of stockholders.

About Taylor Capital Group, Inc.  (NASDAQ:  TAYC)

Taylor Capital Group, Inc. is a $4.5 billion bank holding company for Cole Taylor Bank, a Chicago-based commercial bank specializing in serving the banking needs of closely held businesses and the people who own and manage them. Cole Taylor is a member of the FDIC and an Equal Housing Lender.

CONTACT: investor relations and media, Christina Hachikian, +1-847-653-7166, for Taylor Capital Group, Inc.

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

TechniScan (OTC Bulletin Board: TSNI), a medical device company engaged in the development and commercialization of an automated 3D breast ultrasound imaging system, announced today that it has signed a $10 million equity purchase agreement with Southridge Partners II, LP.

“We are pleased to have secured this equity financing facility with Southridge, a forward thinking institutional investor, which provides future flexibility in capital raising,” said Dave Robinson, chief executive officer of TechniScan. “We plan to use the proceeds, as needed, to support our clinical studies of Warm Bath Ultrasound breast imaging technology.”

Pursuant to the purchase agreement, TechniScan has the right to sell to Southridge up to $10 million of its common stock over a twenty-four month period. TechniScan will have the right, but is not obligated, to sell stock to Southridge depending on certain conditions as set forth in the purchase agreement.

“Southridge is committed to working with TechniScan in its vital research in developing better breast cancer diagnostics and is pleased to be the company’s equity investor,” said Stephen Hicks, chief executive officer of Southridge.

A more complete and detailed description of the purchase agreement is set forth in TechniScan’s current report on Form 8-K filed today with the Securities and Exchange Commission.

The offer and sale of the shares of TechniScan’s common stock issuable under the facility have not been registered under the Securities Act of 1933, as amended.  Accordingly, these securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.  TechniScan has agreed to file within 30 days a registration statement on Form S-1, covering the resale of the common stock issued and issuable in accordance with the terms of the facility.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About TechniScan

TechniScan, Inc. is a medical device company engaged in the development and commercialization of a non-invasive imaging tool designed to provide physicians with automated ultrasound images of the human breast. TechniScan’s Warm Bath Ultrasound™ (WBU™) imaging device is limited by U.S. law to investigational use unless, and until, cleared by the FDA. For more information, please visit www.tsni.com.

Forward Looking Statements

Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate, “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “potential,” “intend,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of TechniScan, Inc. (the “company”) to be materially different from those expressed or implied by such forward-looking statements. The company’s future operating results are dependent upon many factors, including risk factors discussed in the company’s periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov, including the company’s Annual Report on Form 10-K filed on March 22, 2010. The company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

For more information contact:

Dave Robinson

TechniScan, Inc

(801) 994-2965

drobinson@tsni.com

– Expects to Complete Purchase of Southeast Cincinnati Racetrack This Month –

– Names Seasoned Pinnacle Executive, Kevin Kaufman, General Manager of River Downs –

Pinnacle Entertainment, Inc. (NYSE: PNK) announced that, following today’s approval from the Ohio State Racing Commission, it expects to complete its previously announced acquisition of River Downs Racetrack in southeast Cincinnati, Ohio by the end of this month.  Pinnacle expects to fund the $45 million acquisition with cash on hand.

In connection with its planned acquisition of River Downs, Pinnacle has named industry veteran, Kevin Kaufman, General Manager of the racetrack pending regulatory approval and completion of the acquisition.  Kaufman, who most recently served as General Manager of Pinnacle’s Belterra Casino Resort in Indiana, will oversee all day-to-day operations of the racetrack, as well as the transition of the property into Pinnacle’s operations.  Kaufman will report to Carlos Ruisanchez, Pinnacle’s Executive Vice President of Strategic Planning and Development, who led the Company’s initiatives to acquire River Downs.

Anthony Sanfilippo, President and Chief Executive Officer of Pinnacle Entertainment, commented, “We appreciate the efforts of the Ohio State Racing Commission in their timely review and approval of our racing license application and look forward to completing the acquisition of River Downs Racetrack later this month.  The planned acquisition would position Pinnacle to benefit if video lottery terminals (VLTs) at Ohio’s racetracks become operational.  If VLTs become operational in Ohio, we plan to move quickly to invest in and revitalize River Downs to develop a new gaming, racing and entertainment destination facility for the Cincinnati market.  We also continue to review and analyze other opportunities to expand our operating base into attractive markets by leveraging the liquidity and strength of our balance sheet for return-focused growth opportunities such as River Downs.”

Mr. Sanfilippo continued, “Kevin has been a valued member of the Belterra management team for more than nine years, helping to develop and maintain Belterra’s unique appeal as an entertainment resort for the region.  His many years of casino entertainment experience in the greater Cincinnati market will enable Pinnacle to quickly implement best-in-class practices at River Downs in order to enhance the facility’s existing operations while continuing to deliver an exciting racing experience.”

Kevin Kaufman joined Pinnacle in 2001 and has served the last four years as General Manager of the Company’s Belterra Casino Resort in Florence, Indiana, which is approximately an hour southwest of Cincinnati.  Prior to his appointment as General Manager, he served as Senior Director of Casino Operations and Director of Casino Operations at the property.  Mr. Kaufman began his career in the casino entertainment industry at Harveys Casino Resorts and held various management roles there including as Director of Casino Operations at Harveys Council Bluffs.

River Downs Racetrack, located directly off of Interstate 275 in southeast Cincinnati, recently celebrated its 85th anniversary of thoroughbred racing.  One of North America’s most picturesque racecourses, the track is situated on approximately 155 acres of land, 35 of which are currently undeveloped, and offers live thoroughbred racing from mid-April through Labor Day as well as simulcast wagering throughout the year broadcast on more than 500 monitors throughout the facility.  River Downs features a Grandstand with open-air seating, the Pavillion which includes seating for 50 to 300 guests as well as a private bar and grill, and the Turf Terrace in the upper Clubhouse with tableside monitors, a bar, buffet options and formal seating.

About Pinnacle Entertainment

Pinnacle Entertainment, Inc. owns and operates a total of seven casinos, located in Louisiana, Missouri, Indiana and Nevada.  The Company is also developing a casino in Baton Rouge, Louisiana that is currently scheduled to open in December 2011.

All statements included in this press release, other than historical information or statements of historical fact, 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 forward-looking statements, including statements regarding the anticipated closing of the purchase of River Downs Racetrack and the possibility for video lottery terminals (VLTs) to become operational at Ohio racetracks, are based on management’s current expectations and are subject to risks, uncertainties and changes in circumstances that could significantly affect future results. Accordingly, Pinnacle cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the Company may experience delays in completing the transaction or fail to complete the transaction due to circumstances beyond its control; (b) there is no assurance that VLTs will become operational at Ohio’s racetracks; and (c) other risks, including those as may be detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). For more information on the potential factors that could affect the Company’s business and financial results, review the Company’s filings with the SEC, including, but not limited to, its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.

Belterra and River City are registered trademarks of Pinnacle Entertainment, Inc.  All rights reserved.

Agree Realty Corporation (NYSE: ADC) today announced it will redevelop the southeast corner of Shattuck Avenue and Cedar Street in Berkeley, California. The project, on behalf of a national leader in the chain drugstore industry, is expected to be completed during the third quarter of 2011.  Agree will develop the project and oversee construction for a fee to be paid upon completion.

“This is the second such development that we have undertaken in northern California. This project exemplifies our flexibility and ability to execute on behalf of national retailers,” said Joey Agree, President of Agree Realty Corporation.

Agree Realty is engaged in the ownership, management and development of properties which are primarily single tenant properties leased to major retail tenants and neighborhood community shopping centers.  Agree Realty owns and operates a portfolio of 81 properties, located in 17 states and containing 3.5 million square feet of leasable space.

The Company considers portions of the information contained in this release to be 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, each as amended.  These forward-looking statements represent the Company’s expectations, plans and beliefs concerning future events.  Although these forward-looking statements are based on good faith beliefs, reasonable assumptions and the Company’s best judgment reflecting current information, certain factors could cause actual results to differ materially from such forward–looking statements.  Such factors are detailed from time to time in reports filed or furnished by the Company with the Securities and Exchange Commission, including the Company’s Form 10-K for the year ended December 31, 2009.  Except as required by law, the Company assumes no obligation to update these forward–looking statements, even if new information becomes available in the future.

For additional information, visit the Company’s home page on the Internet at http://www.agreerealty.com

CONTACT: Alan Maximiuk, Chief Financial Officer, +1-248-737-4190

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

Agree Realty Corporation (NYSE: ADC) today announced it has acquired a property ground leased on a long-term basis to JPMorgan Chase Bank located on Route 12 near Spring Grove Road in Spring Grove, Illinois.  The cost of the acquisition was approximately $2,900,000.  Chase Bank has approximately 27 years remaining on the base term of the lease.

“We are pleased to add another JPMorgan Chase Bank location to our portfolio of national credit tenants,” said Joey Agree, President and Chief Operating Officer of Agree Realty Corporation.  “This is the second acquisition of a long-term leasehold to an industry leading financial institution that we have recently completed.”

Agree Realty is engaged in the ownership, management and development of properties which are primarily single tenant properties leased to major retail tenants and neighborhood community shopping centers.  Agree Realty owns and operates a portfolio of 81 properties, located in 17 states and containing over 3.5 million square feet of leasable space.

The Company considers portions of the information contained in this release to be 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, each as amended.  These forward-looking statements represent the Company’s expectations, plans and beliefs concerning future events.  Although these forward-looking statements are based on good faith beliefs, reasonable assumptions and the Company’s best judgment reflecting current information, certain factors could cause actual results to differ materially from such forward-looking statements.  Such factors are detailed from time to time in reports filed or furnished by the Company with the Securities and Exchange Commission, including the Company’s Form 10-K for the year ended December 31, 2009.  Except as required by law, the Company assumes no obligation to update these forward-looking statements, even if new information becomes available in the future.

For additional information, visit the Company’s home page on the Internet at http://www.agreerealty.com

CONTACT: Alan Maximiuk, Chief Financial Officer, Agree Realty Corporation, +1-248-737-4190

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

Public Stock Offering:Ossen Innovation Co., Ltd. (NASDAQ: OSN) to Trade on NASDAQ

Public Stock Offering:Ossen Innovation Co., Ltd. (NASDAQ: OSN) to Trade on NASDAQ-Image via Wikipedia

Ossen Innovation Co., Ltd. (“Ossen” or the “Company”) (Nasdaq: OSN), a China-based manufacturer and seller of an array of plain surface prestressed steel materials and rare earth coated and zinc coated prestressed steel materials, today announced the pricing of its initial public offering of 5,000,000 American Depositary Shares (the “ADSs”) each representing one ordinary share, at a price of $4.50 per ADS.  The Company has granted the underwriters an option to purchase up to an additional 750,000 ADSs to cover over−allotments, if any. Ossen’s ADSs are expected to begin trading on December 21, 2010 on the Nasdaq Global Market under the symbol “OSN.”

Global Hunter Securities, LLC and Knight Capital Markets LLC acted as the joint book−running managers for the offering, and Ladenburg Thalmann & Co. Inc. acted as the co−manager for the offering. The offering is expected to close on December 23, 2010.

The Company intends to use the net proceeds of approximately $19.6 million (or $22.7 million assuming the underwriters exercise their option to purchase the over-allotment ADSs) for construction costs associated with the extension of the Company’s current facility for the purchase and installation of eight new production lines for coated prestressed materials.

A registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

A copy of the prospectus relating to the offering may be obtained by contacting: Global Hunter Securities, LLC, 777 Third Avenue, New York, NY 10017, 646-264-5600.

About Ossen Innovation Co., Ltd.

Ossen Innovation Co., Ltd. manufactures and sells of an array of plain surface prestressed steel materials and rare earth coated and zinc coated prestressed steel materials.  The Company’s products are mainly used in the construction of bridges, highways and other infrastructure projects.

Safe Harbor Statements

This press release may 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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company’s public filings with the Securities and Exchange Commission, including the Company’s registration statement on Form F−1, as amended. All information provided in this press release is as of December 20, 2010. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward−looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

For more information, please contact:
Ossen Innovation Co., Ltd.
Alan Jin, Chief Financial Officer

Email: jinyilun@ossengroup.com
Phone: +86-21-6888-8886
Web:   http://220.178.253.10/ossen/index.html.

Investor Relations

ACV China

Larry Cheung, Account Manager

Email: larry.cheung.ir@gmail.com

Phone: +1-201-258-7417

China Electronics Holdings, Inc. (OTC Bulletin Board: CEHD) Attain 247% Increase in Sales

China Electronics Holdings, Inc. (OTC Bulletin Board: CEHD) Attain 247% Increase in Sales-Image via Wikipedia

China Electronics Holdings, Inc. (OTC Bulletin Board: CEHD), one of rural China’s major U.S.-listed retailers of household appliances and consumer electronics, announced that its exclusive distribution contracts with new products from Sony, LG and THTF contributed significantly to the Company’s 247% sales increase year-to-date.  “Manufacturers like Sony, LG and Tongfang (THTF) recognize the value of our brand and distribution reach,” said China Electronics Chairman and Founder Hailong Liu. “We are pleased to announce that their products were responsible for the majority of our $19 million revenue increase through the first nine months of 2010,” Liu added.

China Electronics, through its PRC subsidiary Lu’an Guoying Electronic Sales Co., Ltd. (the “Company”), operates a network of 600 franchise stores, 412 direct stores, and 3 company-owned locations in primarily rural areas of central China’s Anhui and Henan Provinces under the brand of Guoying.  In its most recent fiscal year ended December 31, 2009 China Electronics achieved after-tax net income of USD$9.7 million from USD$47.7 million in revenues. For the nine months ended September 30, 2010 the Company earned USD$15.1 million in after-tax net income on sales of USD$89.4 million.  As a condition of the past summer’s public market financings totaling nearly USD$5.3m, China Electronics agreed to a net income target of USD$12 million, subject to certain adjustments, for the fiscal year ending December 31, 2010, and an uplisting to Nasdaq or the NYSE Amex exchanges.  Hunter Wise Securities, LLC served as placement agent to the financings.

China Electronics’ Guoying subsidiary is the exclusive wholesaler in the Lu’an area for products under the brand names Sony, LG, Samsung, Shanghai Shangling, Chigo, Tsinghua Tongfang, Huayang and Huangming.  Guoying is the general sales agency of Sino-Japan Sanyo electronic products, such as Sanyo TVs, air conditioners, washing machines and microwave ovens.  Guoying has teamed up with Huangming and Huayang, the two largest manufacturers of solar thermal products in China, to be their exclusive retail outlet in Anhui.

China Electronics also produces Guoying brand refrigerators under its own trademark, selling a total of 30,000 refrigerators in 2007, 46,000 in 2008, and 62,000 in 2009, and expects to sell 77,000 in 2010 and 100,000 in 2011, in PRC provinces Anhui, Henan and Hubei.

About China Electronics Holdings and Household Appliance Retailing in Rural China

China Electronics has been based in Lu’an City, Anhui Province, central China since its founding in 2001 and sells household appliances and consumer electronics of major manufacturers through a network of more than 1,000 retail stores in rural areas of the PRC’s fourth- and fifth tier markets. For more information please visit www.chinaelectronicsholdings.com .

Approximately 56% of China’s population still resides in rural areas of the PRC, making rural residents the largest consumer group in the country. After many years of economic reforms, the average income of people living in China’s rural areas has gradually increased. The rural market is largely untapped and has enormous potential for growth. This rural consumer group has tremendous purchasing power and is increasing as the Chinese government encourages rural communities to modernize.

The PRC central government has decided to expand internal demand by increasing the income of the rural population. Continuous improvements in the rural power network, rural transportation, and rural communication make the rural market extremely favorable for home appliances and electronics.

After many years of economic reforms, the average income of people living in China’s rural areas has gradually increased. It is reported that the rural residents hold more than US $120 billion in savings and US$106 billion in cash. A survey done by the China Electronic Product Association showed that 14% to 33% of rural families are willing to spend their money on televisions, DVDs, washers and dryers, and telephones in the next few years. For example, refrigerator ownership in big and middle cities of China is over 95%, even 99% in some cities. However, the ownership of refrigerators is only 22.7% in rural areas of China.

The Chinese government has initiated a rural home appliance and electronics rebate program, called “Rural Consumer Electronics” plan, which provides that the maximum sales price of electronics is fixed at a price which is usually equal to or less than the market price in urban areas of the same product. Meanwhile, rural consumers can get a 13% government rebate on their purchases of electronics.

Finally, the current consumer electronics and appliances markets in big cities like Beijing, Shanghai, and Shenzhen are already saturated by an over abundance of competitors – leading to very lean margins. Although some competitors have announced interest in the rural market, none of the current competitors have established any significant presence in the rural markets. Successful brand names established in large cities are not an indicator of automatic success in China’s rural market. Guoying is the first rural home appliance and electronics retailer in Anhui province.

Cautionary Statement Regarding Forward Looking Information

This press release may contain forward-looking information about the Company, Buyonate, Inc., China Electronics Holdings, Inc., Lu’an Guoying Electronic Sales Co., Ltd., and its subsidiaries. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and statements which may include discussions of strategy, and statements about industry trends future performance, operations and products of each of the entities referred to above. Actual performance results may vary significantly from expectations and projections as a result of various factors, including without limitation and the risks set forth “Risk Factors” contained in the Company’s Current Report on Form 8-K filed on July 20, 2010. The shares of common stock issued in connection with the transaction has not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. The Company has agreed to file a registration statement covering the resale of the shares of common stock issued in the private placement and certain other shares, upon request by the investors.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Contacts:
Hunter Wise Financial Group, LLC
Dan McClory, Managing Director
+1 949 732 4102
dmcclory@hunterwise.com
Frank Lorenzo, Managing Director
+1 551 427 8476
florenzo@hunterwise.com
MSC INDUSTRIAL DIRECT CO., INC. (NYSE: MSM) Acquires Rutland Tool & Supply Co.

MSC INDUSTRIAL DIRECT CO., INC. (NYSE: MSM) Acquires Rutland Tool & Supply Co.-Image via Wikipedia

MSC INDUSTRIAL DIRECT CO., INC. (NYSE: MSM), “MSC” or the “Company,” one of the largest direct marketers and premier distributors of Metalworking and Maintenance, Repair and Operations (“MRO”) supplies to industrial customers throughout the United States, announced today that it has completed its previously-announced acquisition of Rutland Tool & Supply Co. (“Rutland”), a subsidiary of Lawson Products, Inc. (Nasdaq: LAWS) for approximately $11 million in cash plus the assumption of certain liabilities.  The Company continues to expect the acquisition to become accretive to earnings in late-fiscal 2011 or early-fiscal 2012.

Based in Whittier, CA, Rutland was founded in 1955 and markets and distributes a broad range of industrial tools, cutting tools, abrasives, machinery, precision instrument supplies, safety products and other MRO related supplies to over 20,000 customers.  Customers have access to over 100,000 items through multiple channels including web, showrooms, catalogs and sales flyers. Rutland’s customer base includes industrial machine and metalworking shops, as well as maintenance and repair facilities.  In 2009, Rutland generated revenue of $33.7 million.

About MSC Industrial Direct Co., Inc.

MSC Industrial Direct Co., Inc. is one of the largest direct marketers and premier distributors of Metalworking and Maintenance, Repair and Operations (“MRO”) supplies to industrial customers throughout the United States. MSC employs one of the industry’s largest sales forces and distributes approximately 600,000 industrial products from approximately 3,000 suppliers to approximately 320,000 customers.  In-stock availability is approximately 99%, with next day standard delivery to the contiguous United States on qualifying orders up until 8:00 p.m. Eastern Time.  MSC reaches its customers through a combination of approximately 22 million direct-mail catalogs, 96 branch sales offices, 973 sales people, the Internet and associations with some of the world’s most prominent B2B eCommerce portals. For more information, visit the Company’s website at http://www.mscdirect.com.

CAUTIONARY STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Statements in this Press Release may 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. Any statements contained herein which are not statements of historical facts and that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, including statements about the expected benefits of the acquisition shall be deemed to be forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events, actual results and performance, financial and otherwise, could differ materially from those set forth in or contemplated by the forward-looking statements herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The inclusion of any statement in this release does not constitute an admission by MSC or any other person that the events or circumstances described in such statement are material. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation, problems with successfully integrating acquired operations, current economic, political and social conditions, changing customer and product mixes, financial restrictions on outstanding borrowings, industry consolidation, competition, general economic conditions in the markets in which the Company operates, volatility in commodity and energy prices, credit risk of our customers, risk of cancellation or rescheduling of orders, work stoppages or other business interruptions (including those due to extreme weather conditions) at transportation centers or shipping ports, the risk of war, terrorism and similar hostilities, dependence on the Company’s information systems and on key personnel, and the outcome of potential government or regulatory proceedings or future litigation relating to pending or future claims, inquiries or audits.  Additional information concerning these and other risks is described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s reports on Forms 10-K, 10-Q and 8-K that the Company files with the U.S. Securities and Exchange Commission.  The forward-looking statements in this press release are based on current expectations and the Company assumes no obligation to update these forward-looking statements.

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