Virginia Business Online: For the Record, June 2003

This report is compiled from company releases, business journals and newspapers from around the state. If you have an item for these listings please:

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Mergers and Acquisitions
AMERIGROUP Corp., a multistate managed- care health company headquartered in Virginia Beach, announced its Florida health plan entered into an agreement to acquire the Medicaid line of business known as St. Augustine Medicaid for approximately $10 million. (Press release)

Anteon International Corp. of Fairfax, a provider of information technology and engineering solutions to the U.S. Government, signed an agreement to acquire Annandale-based Information Spectrum Inc., a provider of critical defense and homeland security solutions. (PR Newswire)

CACI International Inc., an Arlington-based provider of IT and network solutions, plans to purchase all assets of Premier Technology Group Inc. of Fairfax, a provider of professional services to clients in the Department of Defense and the intelligence community. (PR Newswire)

Collegiate Funding Services of Fredericksburg, a provider of products and services addressing a full-range of education finance and debt management needs, acquired SunTech Inc., a student loan servicer headquartered in Ridgeland, Miss. (Business Wire)

First Community Bank N.A. of Bluefield plans to purchase CommonWealth Bank giving First Community Bank four full-service Richmond branches. (PR Newswire)

Friedman, Billings, Ramsey Group Inc., an Arlington-based provider of financial services and FBR Asset Investment Corp. of Arlington, a real estate investment trust, plan to merge with the new company assuming the name Friedman, Billings, Ramsey Group Inc. (PR Newswire)

iLIANT Corp. of Tampa, Fla., a provider of best-of-class software to physician practices, acquired the clients of Richmond-based DR2DR, an application hosting and web portal company. (Business Wire)

ITS Services Inc., a Springfield-based provider of IT solutions, network operations and support services to federal government agencies, was acquired by Arlington Capital Partners of Washington, D.C., a private equity fund. (Business Wire)

LandAmerica Financial Group Inc. of Richmond, a provider of real estate transaction services, plans to purchase Orange County Bancorp and its wholly owned subsidiary, Centennial Bank in Fountain Valley, Calif., for $27.6 million. (PR Newswire)

Natural Resource Partners, a coal properties manager based in Houston, Texas, acquired more than 290,000 mineral acres containing over 300 million tons of coal reserves in Virginia from subsidiaries of Alpha Natural Resources, for an aggregate purchase price of $53.625 million in cash. (PR Newswire)

Pacel Corp., a Manassas-based software developer, plans to purchase the assets, including stock of all subsidiary operations of Asmara Inc., a Professional Employer Organization headquartered in North Carolina. (Business Wire)

Saville Produce of Newport News plans to join Baker Bros. Produce Co. of Virginia in Richmond and Quality Produce Co. of Roanoke to form a new company named Produce Source Partners. (The Roanoke Times)

Science Applications International Corp., a research and engineering company, plans to acquire the Information Sharing and Analysis Center and Open Source Intelligence business unit from Predictive Systems Inc., a consulting firm based in New York City. (PR Newswire)

Smithfield Foods Inc., a pork processor headquartered in Smithfield, plans to merge two of its subsidiaries, Smithfield Packing Co. and Gwaltney of Smithfield. (PR Newswire)

TFC Enterprises Inc. of Norfolk, a provider of auto purchase financing, is being acquired for $21.6 million in cash by Consumer Portfolio Services Inc. of Irvine, Calif., which buys, sells and services installment sales contracts for new and late-model used cars. (hamptonroads.com)

Deals
America Online, a Dulles-based interactive services company, and Univision Communications Inc., a Spanish-language media company in the U.S., plan a renewal and expansion of an extensive strategic content and marketing alliance. (Business Wire)

BearingPoint Inc. of McLean, a business consulting and systems integration firm, and Europe-based Aldata, a global provider of retail software, formed an alliance to market and implement Aldata's G.O.L.D. integrated supply chain management software combined with BearingPoint's services. (PR Newswire)

Convera, a provider of mission-critical enterprise solutions based in Vienna, announced that Kumba Resources, a South African mining company, is using Convera's RetrievalWare® search and categorization technology on its corporate Intranet. (Business Wire)

Cortani Morrison Tobin Advertising and Public Relations of Virginia Beach, a firm specializing in total marketing communications programs, was named advertising agency for the Virginia, Maryland and Delaware Association of Electric Cooperatives. (Press release)

Inova Health System, a headquartered in Fairfax, was awarded a $5 million challenge grant to build a health education center called the Claude Moore Health Education Center in Fairfax County to house Northern Virginia's first medical school. (The Washington Post)

PPL Therapeutics of Blacksburg, the biotech company that produced Dolly the sheep, and a leading transplant hospital plan to form a new company named Regenecor Holdings to continue research using animals to treat human diseases. (The Roanoke Times)

Radford Foundry, a manufacturer of automotive castings, is under a new union-approved three-year work contract with Intermet Corp., a metal-casting company based in Troy, Mich. (The Roanoke Times)

Sensytech Inc. of Newington, a systems developer, withdrew the letter of intent to purchase Codem Systems Inc., a communications services provider headquartered in Merrimack, N.H. (Business Wire)

Newport News Siemens AG's union workers approved shift changes at the auto-parts plant. (Daily Press)

New Plants and Companies
American Mortgage Network, a San Diego-based subsidiary of American Residential Investment Trust, opened a new regional center in Richmond to serve the mortgage broker community in the Mid-Atlantic region. (Business Wire)

ASD Biosystems Inc., a biothreat agent specimen collection and detection systems provider founded in Florida, selected the Virginia Biotechnology Research Park in Richmond for its headquarters. (Richmond Times-Dispatch)

Cendant Corp. of New York, N.Y., a provider of travel and residential real estate services, plans to relocate its Car Rental Group's Shared Services Center to the city of Virginia Beach, creating 187 jobs. Virginia competed with New Jersey, Illinois and Florida for the $1.6 million investment. (Press release)

Chemsavers Inc., a recycler and re-distributor of laboratory chemicals and computer/hardware equipment, relocated from Kentucky to a facility in Henrico County. (Press release)

ENSR International of Westford, Mass., an environmental and energy development services firm, opened a new office in Virginia Beach to better serve industrial and government agency clients in the area. (PR Newswire)

Ford Motor Co. plans to build a regional parts distribution center in Frederick County's Coca-Cola Industrial Center through a $13.3 million investment in a 250,000-square-foot facility creating 95 jobs. Virginia competed with Maryland for the project. (Press release)

Glamour Corp., a family-run company in Virginia Beach that already owns two beach hotels, plans to build a six-story, 127-unit suites style hotel near Corporate Landing Business Park through an $8 million investment. (The Virginian-Pilot)

Magellan Systems International of Bethesda, Md., a defense contractor and producer of specialty fibers, plans to locate its core research and development and production facility in Chesterfield County through a projected investment of $40 million over the next few years. (Press release)

Mitsubishi Gas Chemical Co., a subsidiary of Mitsubishi, plans to build a plant in Richmond to produce approximately 10,000 metric tons per year of Nylon-MXD6. (Business Wire)

Wal-Mart Stores Inc. plans to invest $55 million to locate a 1.2 million-square-foot regional distribution center in Rockingham County, creating 1,000 jobs. Virginia competed with Maryland and Pennsylvania for the project. (Press release)

Executive Promotions
Alan V. Monette, CEO and Chairman of the Board, Monette Information Systems in Smithfield. He was a founder and President of MIS. (Press release)

James W. Blanchard, president and CEO, Athena Technologies Inc. in Manassas. (PR Newswire)

James G. Carlson, president and COO, AMERIGROUP Corp. in Virginia Beach. (PR Newswire)

John Walker, COO, AMF Bowling Products in Richmond. He previously held the position of VP of North American Sales and SVP of Global Sales and Service. (Press release)

Kelley Johnston, president, TrialNet Inc. in Richmond. She was previously the VP. (Press release)

N. Bruce Ashby, president, US Airways Express Division in Arlington. He also holds the position of SVP of alliances. (PR Newswire)

Raymond P. Capece, president and CEO, Comtex News Network Inc. in Alexandria. (PR Newswire)

Wesley K. Clark, a retired U.S. Army general chairman and now a military analyst for CNN, was named chairman of the board for WaveCrest Laboratories in Dulles. (The Washington Post)

Thomas E. Joyner, president, Monette Information Systems in Springfield. He previously held the position of EVP and was a founder of MIS. (Press release)

Contracts
Anteon International, Fairfax: $20.6 million over five years under the GSA Environmental Advisory Services Schedule, to support the Southwest Division, Naval Facilities Engineering Command. (PR Newswire)

Centex Construction Co.- Mid Atlantic, Fairfax: $60 million by the U.S. Army Corps of Engineers, Baltimore District, for construction of the addition to Andrew T. McNamara Building Defense Threat Reduction Center in Fort Belvoir. (Press release)

Computer Sciences Corp., Falls Church: four task orders valued at more than $82 million over six years by the GSA, to support the Department of Defense High Performance Computing Modernization Program. (PR Newswire)

Cryptek Inc., Sterling: $8.1 million from the Naval Air Systems Command to provide Web Server Security Systems for the Department of Defense's Joint Engineering Data Management Information and Control System. (Business Wire)

General Dynamics-Advanced Information Systems, Arlington: $31.5 million from the U.S. Army's TACOMARDEC Picatinny Center for Contracting and Commerce, for the Increment I Technology Development phase of the Intelligence Munitions Systems program. (PR Newswire)

The following business units of General Dynamics, which has its headquarters in Falls Church, were award ed these contracts:

General Dynamics-Network Systems, Needham, Mass.: $10 million multi-year contract for the base communications operations and maintenance at the Naval Air Systems Command Weapons Division in China Lake, Calif. (PR Newswire)

General Dynamics-C4 Systems, Taunton, Mass.: two contract modifications valued at $39.1 million to provide support to the Project Manager Army Tactical Operations Centers/Air and Missile Defense Command and Control Systems. (PR Newswire)

General Dynamics-Decision Systems, Scottsdale, Ariz.: $7 million initially, with a potential $304 million over ten years from the U.S. Army to integrate a voice and data communications system. (PR Newswire)

General Dynamics-Land Systems, Sterling Heights, Mich.: $24.2 million by United Defense for 138 Bradley HMPT 500-3ECB transmission assemblies and 138 turret drive systems for the Bradley Fighting Vehicle M2A3 product improvement program. (PR Newswire)

General Dynamics-Electric Boat, Groton, Conn.: $59.2 million contract modification from the U.S. Navy for Virginia-class submarine lead-yard services. (PR Newswire)

General Dynamics-Ordnance and Tactical Systems, St. Petersburg, Fla.: $24 million over a five-year multi-year contract from the Department of the Army for ammunition production. (PR Newswire)

Government Telecommunications, Chantilly: $35 billion under the CONNECTIONS program shared among 16 other suppliers to provide telecommunications services and equipment to federal agencies. (Business Wire)

GTSI Corp., Chantilly: $100 million a year over three years to provide information technology services to state and local government agencies nationwide for the U.S. Communities Purchasing & Finance Agency. (Business Wire)

Hankins and Anderson, Richmond-based consulting engineering firm, selected to provide services to the U.S. Department of State, Overseas Buildings Operations. (Press release)

Innovative Concepts Inc., McLean: $6.8 million from the U.S. Army Aviation for the development of the next generation of the Improved Data Modem Army Operational Flight Program Software Version 7.0. (PR Newswire); $11.8 million from the U.S. Army Aviation to provide Improved Data Modem Version 304™. (PR Newswire); $1.1 million by the U.S. Army Aviation and the Miltope Group Inc., to provide tactical data communications technology. (PR Newswire)

MAXIMUS, Reston: $3.9 million by the Chelan County Public Utility District No. 1, Wenatchee, Washington, to implement PeopleSoft® enterprise application software. (Business Wire)

MCI, Ashburn: muti-year, multi-million dollar agreement with Munich, Germany-based Wacker Chemie GmbH, to be the primary global communications provider. (PR Newswire)

McDonald Bradley Inc., Herndon: two contracts valued at $4.1 million from the Department of Housing and Urban Development to provide Help Desk services and applications development and maintenance. (PR Newswire)

Orbital Sciences Corp., Dulles: $45 million combined contracts with Northrop Grumman Corp.'s Integrated Systems sector by NASA's Marshall Space Flight Center to help refine requirements and operational concepts for the proposed Orbital Space Plane. (PR Newswire)

Science Applications International Corp., McLean: $650 million over five years, to share among seven other companies from the U.S. Army Forces Command to provide services to U.S. Army war fighters. (PR Newswire)

Sensytech Inc.'s Communications Group, Newington: $3.7 million for communications equipment for an international customer. (Press release)

SI International, McLean: $6.8 million over five years to provide professional and engineering services support for the Decision Support System pilot project managed by the Naval Air Systems Command. (Press release); increase ceiling on $45 million contract to $60 million by the Department of State to support the National Visa Center by processing visa applications. (PR Newswire)

SRA International Inc., Fairfax: $22 million over 54 months to provide training support to the U.S. Transportation Command's Joint Deployment Training Center. (PR Newswire)

TUCON Construction Corp., Dulles: $1.7 million for renovation at the historic Gonzaga College High School to be completed by October 2003. (Press release)

Veridian Corp., Arlington: $19.7 million National Reconnaissance Office Core Services contract with a base year plus four options years to provide a range of core technical and administrative support for the NRO. (Business Wire)

Cutbacks and Closings
Choice Communications Inc., a printing firm based in Richmond, plans to close due to a drop in business as people relied more on electronic transactions and less on paper ones. (Richmond Times-Dispatch)

Dan River Inc. of Danville, a textile products manufacturer, plans to lay off 200 employees at its local fabrication and distribution plants in order to maximize manufacturing capacity ratio as it relates to inventory. (Danville Register & Bee)

Danville Regional Health System, headquartered in Danville, plans to eliminate 70 jobs as a result of Medicaid cuts. (Danville Register & Bee)

Federal-Mogul Corp. of Hampton, an auto-parts maker, won federal bankruptcy-court approval to close its Hampton plant and sell the equipment to Decoma International Inc., a Canadian auto-parts supplier. (Daily Press)

Maxxim Medical Inc., a manufacturer of medical and surgical products based in Clearwater, Fla., plans to shut down its Richmond facility and transfer those operations to its headquarters. (PR Newswire)

MeadWestvaco Corp. of Stamford, Conn., a packaging producer, plans to close its folding carton plant in Richmond by the end of June. (PR Newswire)

Stillwater Inc., a Rockbridge County-based textile company, closed its plants in Goshen and Augusta County due to the competitive market inundated with cheaper, foreign-made goods. (The Roanoke Times)

Divestitures
The Rowe Cos., a McLean-based furniture manufacturer and retailer, sold the outstanding capital stock of its subsidiary, The Mitchell Gold Co., to its management and an entity formed by Wafra Partners, a New York-based private equity firm, for approximately $46 million in cash. (PR Newswire)

Expansions
Carbone Kirkwood, a supplier of carbon brushes for automobile motors headquartered in Farmville, plans to expand its existing operations in Prince Edward County through a $2.7 million investment creating 65 jobs. Virginia competed with Ohio and Mexico for the project. (Press release)

Evergreen Enterprises Inc. of Richmond, a provider of home and garden gift décor, plans to expand its operations in Richmond through a $5 million investment in a 100,000-square-foot facility creating 100 jobs over the next three years. Virginia competed with California and South Carolina for the project. (Press release)

Grucci, a fireworks entertainment company headquartered in Brookhaven, N.Y., plans to expand its existing manufacturing and distribution facility in the Radford through a $100,000 investment creating 53 jobs. Virginia competed with North Carolina for the project. (Press release)

Hyosung America Inc., a Korean-based supplier of polyester tire cord, plans to invest $7 million in Albemarle County through the acquisition of the former Michelin plant, saving more than 100 jobs. Virginia competed with Alabama and Georgia for the project. (Press release)

Intertape Polymer Group Inc. of Montreal, Quebec and Bradenton, Fla., a packaging products developer, plans to expand existing operations in Pittsylvania County through a $5 million investment in a 200,000-square-foot facility creating 50 jobs. (Press release)

Liebherr, a mining and construction machinery manufacturer based in Switzerland, plans to expand its operations in Newport News through a $4 million investment creating 134 jobs. Virginia competed with Kansas for the investment. (Press release)

Patten, Wornom, Hatten & Diamonstein, a law firm headquartered in Newport News, formed PWHD Consulting, a new practice area that will focus on government relations, business services and issues management. (Press release)

Unisys of Fairfax County, a worldwide information technology services company, plans to consolidate its Global Public Sector headquarters in the county, creating up to 900 jobs over three years. (Press release)

US Airways, an Arlington-based airliner, plans to begin nonstop daily service between its Charlotte, N.C. hub and the Mexican capital, Mexico City, in October. (PR Newswire)

Real Estate
Divaris Real Estate Inc., an international real estate brokerage and property management firm headquartered in Virginia Beach, sold the former Hechinger Building in Valley View Mall in Roanoke to Faison-Valley View Boulevard. (Press release)

Federal Realty Investment Trust of Rockville, Md., acquired South Valley Shopping Center and Mount Vernon Plaza, adjacent properties located in Fairfax, from private owners for approximately $31.2 million. (Business Wire)

INFOCUS, a supplier of mail list services to national associations, relocated its operations to Vint Hill in Fauquier County. The company purchased a 13,480-square-foot building. in the 695-acre mixed-use community. (Press release)

Unysis Corp. of Reston, an information technology services and solutions company, leased 280,000 square feet of Class A office space at Plaza America in Reston as the first phase of a $250 million, 420,000-square-foot expansion. (Press release)

Financing
Broadmargin, a provider of Telecom Cost Management Solutions based in Fairfax, secured $21 million in private equity investment led by ABS Capital Partners of Baltimore, Md., to be used for growth capital and provide shareholder liquidity. (PR Newswire)

Capital Automotive REIT of McLean, a specialty finance company for automotive retail real estate, announced that a subsidiary issued $228 million of Triple Net Lease Mortgage Notes, Series 2003-1 in a private offering. (PR Newswire)

CardSystems, a full-service electronic payment processor headquartered in Chantilly, secured $23.6 million in a private placement arranged by Chicago-based investment firm William Blair & Co., and led by new investor Camden Partners of Baltimore, a private equity firm. (PR Newswire)

GTSI Corp. of Chantilly, an IT solutions provider, authorized the repurchase of up to an additional $5 million worth of GTSI common stock under its existing share repurchase program. (Business Wire)

Hilb, Rogal and Hamilton Co., an insurance intermediary, authorized the company to purchase up to $20 million of its common stock on the open market or in negotiated transactions. (Press release)

Luna Technologies of Blacksburg, a developer of fiber optic component test equipment, closed its Series B financing led by the private equity firm, Columbia Capital of Alexandria. (Press release)

MicroStrategy Inc., a worldwide provider of business intelligence software, repurchased approximately $8.5 million in principal amount of its series A unsecured notes in exchange for shares of the company's class A common stock. (PR Newswire)

Mythic Entertainment of Fairfax, a video-game developer, received a $32 million investment from Boston-based venture firm TA Associates. (The Washington Post)

PRIMUS Telecommunications Group Inc., a global telecommunications services provider, reduced an additional $12 million of debt as part of its continuing program to strengthen its balance sheet. (Business Wire); issued shares of Series C Convertible Preferred Stock to two private equity funds sponsored by the American International Group Inc. (Business Wire)

TowneBank of Hampton Roads, lead the consortium of lenders that plan to provide the funding for the $28 million private funding package for the 300-room, 22-story luxury Hilton Resort Hotel and Conference Center in Virginia Beach. (Press release)

United Dominion Realty Trust Inc., an apartment real estate investment trust, closed a new three-year $500 million unsecured revolving credit facility arranged by Wachovia Securities Inc. and J.P. Morgan Securities Inc. (Press release); priced a $150 million offering of senior unsecured five-year notes under its existing shelf registration statement. (Press release)

Vyant Technologies of Fairfax, a developer of RealTime, a new, rapid data-recovery software for enterprises, received $3 million in additional funding from Capitol Ventures, a Washington D.C.-based venture firm. (Press release)

Xybernaut Corp., a provider of wearable/mobile computing hardware, software and services, raised $6.1 million through a $2 million private placement of common stock. (Business Wire)

Legal
CropTech Corp. of Blacksburg, a biotechnology firm known for its tobacco use research, filed for bankruptcy protection. (The Roanoke Times)

Dominion Resources Inc. of Richmond, plans to clean up coal-burning power plants in Virginia and West Virginia as a result of a $1.2 billion settlement under the Clean Air Act. (Richmond Time-Dispatch)

Haleos Inc., a Blacksburg-based technology company, had its bankruptcy proceedings dismissed in court, eliminating the obligation to pay off unsecured creditors, including 200 employees owed back wages. (The Roanoke Times)

Henninger Media Sevices of Arlington, a creative communications company, satisfied all conditions of its reorganization plan allowing it to emerge from Chapter 11 as scheduled. (Press release)

James River Coal Co., a coal producer headquartered in Richmond, filed for bankruptcy protection. (Richmond Times-Dispatch)

Massey Energy Co. of Richmond, a coal producer, agreed to make changes to its 2001 and 2002 financial filings to resolve issues raised during a Securities and Exchange Commission review. (Richmond Times-Dispatch)

The Tazewell Hotel & Suites of Norfolk is in the process of being sold to Krishna Sai for $3.3 million. (The Virginian-Pilot)

US Airways, an Arlington-based airliner, emerged from Chapter 11 bankruptcy by cutting annual costs by $1.9 billion. (Richmond Times-Dispatch)

Virginia Apple Growers Association, an export-trading company consisting of four of Virginia's largest growers, was formed to share market information, negotiate with shippers, bargain for export contracts and enjoy protection from state and federal antitrust laws. (Richmond Times-Dispatch)

Noteworthy
Brett Landry, William Burks Spencer and Greg Welch, a team of VCU Adcenter students, won the best-in-show honor for an outdoor public-service campaign designed to raise awareness about problems faced by homeless people, marking the first time a student team has taken the top award in the Richmond Show, an advertising competition that draws hundreds of entries from the area's advertising professionals. (Richmond Times-Dispatch)

Cecil G. Doyle, Steve Clinton, Steve Chapman and Joe Wells were re-elected to the architectural and engineering firm of Hayes, Seay, Mattern & Mattern Inc.'s Board of Directors for a three-year term. (Press release)

David G. Bronner was elected chairman in a non-executive capacity of US Airways Group Inc.'s 15-member board. He is also the CEO of the Retirement Systems of Alabama. (PR Newswire)

Donald R. Lee was elected Chairman of the Board of Directors of the American Foundation for Urologic Disease for the year 2003. He has been an A.F.U.D. board member for the past three years and is a resident of Manakin-Sabot. (Press release)

E.Tazewell (Ted) Ellett became president-elect of The Virginia Bar Association and will serve a term of one year. He has been a member of the VBA Board of Governors for the past three years and is a partner at Hogan & Hartson, an international law firm based in Washington, D. C. (Press release)

James M. Donahue became a new partner at the law firm of Watt, Tieder, Hoffar & Fitzgerald. He has been with WTH&F since 1994 as an associate. (Press release)

John C. Backus Jr., founder and managing partner of Draper Atlantic, an information technology venture capital firm based in Winchester, was given the Harry F. Byrd Jr. School of Business Entrepreneur of the Year award. (Press release)

John W. Barter was appointed to the Board of Directors and will serve on the audit committee of SRA International Inc., an information technology services and solutions provider based in Fairfax. (Press release)

Lisa Frisina Clement was elected as a shareholder at the Richmond law office of PennStuart. (Press release)

McGuireWoods, a full-service law firm with an office in Richmond, was ranked 13th by total deal value as one of the leading corporate law firms in 2002 by The American Lawyer. (Press release)

Michael D. Mueller and Henry R. Pollard V have become partners in the civil practice law firm of Christian & Barton in Richmond. (Press release)

Omega World Travel of Fairfax, a travel management company, was honored as the Top Diversity Owned Business in the U.S. for 2002 for promoting multicultural business opportunities, by Div2000.com, a primary resource portal for small businesses and large organizational buyers. (Press release)

Ronald L. Tillett was elected to the Board of Directors of Union Bankshares, a community banking organization based in Bowling Green. He is also the Managing Director, Public Finance with Morgan Keegan & Co., in Richmond. (Press release)

Thomas E. Knauer joined the Richmond office of the law firm of McGuireWoods as a partner in the real estate and environmental law department. (Press release)

Tom Curley, SVP of administration at Gannett Co. of McLean, plans to leave the company after 31 years of service, to become president and CEO of The Associated Press. He is also the president and publisher of USA TODAY. (Business Wire)

Walter Dunn, an associate at McGuireWoods, passed the Certified MBA exam and was awarded the CMBA designation by the International Certification Institute. (Press release)