Management Changes

Tower Bancorp, Inc. (NASDAQ: TOBC) announced today that Kermit Hicks, chairman of the Board of Directors of Tower Bancorp, Inc. has decided to retire as a director of the Company and its wholly-owned subsidiary, Graystone Tower Bank, effective August 31, 2009, after more than 40 years of service to the organization.

Tower Bancorp, Inc. is the parent company of Graystone Tower Bank, a full-service community bank operating 25 branch offices in central Pennsylvania and Maryland.[SM]

The Board of Directors of Goldman Sachs Bank USA, a wholly owned subsidiary of The Goldman Sachs Group, Inc. (NYSE: GS), announced the appointments of Matthew W. Barrett, Ann F. Kaplan and Thomas C. Melzer as independent directors of Goldman Sachs Bank USA, increasing the total number of the bank's directors to ten.

"We are very pleased that Matt Barrett, Ann Kaplan and Tom Melzer have agreed to serve on our Board," said E. Gerald Corrigan, Chairman of Goldman Sachs Bank USA. "They have extensive experience and expertise in banking and the financial markets, and we look forward to the valuable advice and counsel they will bring to the bank."

PG&E Corporation (NYSE: PCG) announced that Christopher P. Johns, the Corporation's Senior Vice President and Chief Financial Officer, has been selected to lead the company's utility unit as President of Pacific Gas and Electric Company effective August 1, 2009.

As the utility subsidiary's top executive officer, Johns will be responsible for all aspects of Pacific Gas and Electric Company's business, including electric and gas operations, customer care, information technology, shared services and regulatory relations.

Kent M. Harvey, currently Senior Vice President and Chief Risk and Audit Officer, will succeed Johns as PG&E Corporation Chief Financial Officer.

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation, is one of the largest combined natural gas and electric utilities in the United States. [SM]

EDCI Holdings, Inc. (Nasdaq: EDCI), the holding company for Entertainment Distribution Company, announced the resignation of Robert Chapman as CEO. Bob also resigned from EDCI's Board of Directors, had replaced Interim CEO Clarke H. Bailey, who himself now replaces Mr. Chapman as EDCI Chief Executive Officer and EDC Interim Chief Executive Officer, effective July 2, 2009.

Mr. Chapman commented, "When I accepted the invitation six months ago from EDCI and EDC's Boards of Directors to lead these companies through the difficult industry and global recessionary environment that characterized the first half of 2009, I conceived and preached the mantra of 'Don't Burn It & Don't Blow It' as it related to preserving EDCI's sacred cash holdings. Furthermore, the seemingly constant headwinds of operating in the disc manufacturing and distribution business, with Universal Music Group as EDC's supermajority customer, required immediate countermeasures to bolster EDC's liquidity and longevity. Having ablated and amputated certain incontinent expenditures, and set EDCI on a prudent, judicious course of balanced scrutiny of acquisition vs. recapitalization, in addition to orchestrating EDC's Blackburn-Hannover consolidation plan, I avidly look forward to shifting all my attention to Chapman Capital and related investment portfolios during what may be the most dynamic passive investment environment of a lifetime."

ARCA biopharma, Inc. (Nasdaq: ABIO) announced changes to its management team to reflect the Company's recent change in commercial strategy to seek alternatives for the potential commercialization of Gencaro. Richard B. Brewer will assume the role of Chairman of the Board of Directors and resign as Chief Executive Officer. Michael R. Bristow, will become President and Chief Executive Officer, a position he previously held with ARCA prior to Mr. Brewer joining the Company. Dr. Bristow will resign as Chairman but will remain a member of the Board of Directors. These changes will be effective on July 10, 2009.