Press Releases

SEATTLE, Dec. 4 /PRNewswire-FirstCall/ -- Boeing (NYSE: BA) and Korean Air today announced an order for five 747-8 Intercontinental jetliners. Korean Air is the first Asian airline to order the passenger version of the new, fuel-efficient 747-8.

The airplanes have a total average list price value of $1.5 billion. Korean Air already has arrangements to operate seven 747-8 Freighters.

"This is a great day in the history of our long and enduring partnership with Korean Air," said Jim Albaugh, president and CEO of Boeing Commercial Airplanes. "The technologically advanced 747-8 Intercontinental is particularly well suited for Korean Air's operations. It will provide exceptional levels of passenger comfort, greatly enhanced fuel efficiency and reduced emissions and noise. The announcement comes at an exciting time as we move closer to the first 747-8 Freighter flight in early 2010."

Korean Air plans on flying the 747-8 Intercontinental on long-haul routes to the Americas and Europe.

"The 747-8 Intercontinental fills the void between the 300- and 550-seat airplanes in our future fleet," said Won Tae Cho, managing vice president of Korean Air Passenger Business Division. "The technological enhancements Boeing has made to this airplane will deliver exceptional economics and a flying experience that will thrill our customers, enabling Korean Air to provide Excellence in Flight to our customers."

The new 747-8 Intercontinental is stretched 18.3 feet (5.6 m) from the 747-400 to provide 467 seats in a three-class configuration, an additional 51 seats. It also offers a range of 8,000 nautical miles (14,815 km). Using the new GEnx-2B engines, the 747-8 provides airlines a quieter, more fuel-efficient airplane. The 747-8 also provides nearly equivalent trip costs and 13 percent lower seat-mile costs than the 747-400, plus 26 percent greater cargo volume.

The 747-8 also features a new wing design and an upgraded flight deck. The airplane interior incorporates features from the 787 Dreamliner, including a new curved, upswept architecture that will give passengers a greater sense of space and comfort, while adding more room for personal belongings. The architecture will be accentuated by lighting technology that provides smooth transitions for a more restful flight.

The 747 program is in the later stages of the 747-8 Intercontinental design phase. Assembly on the airplane is set to begin around mid-2010, with the first delivery of the freighter version scheduled for the fourth quarter of 2011.

With the addition of the Korean Air order, Boeing has secured 110 orders for the 747-8. Thirty-two of the orders are for the 747-8 Intercontinental, and the remaining 78 are for the 747-8 Freighter.

Contacts:

Boeing

Miles Kotay

International and Sales Communications

Boeing Commercial Airplanes

+1 425-306-4537

Tim Bader

747 Communications

Boeing Commercial Airplanes

+1 425-717-0672

More information: http://www.boeing.com/commercial/747family/

Korean Air

Jihye Lee

Manager, Corporate Communications

+82-2-2656-7272

leejh@koreanair.com

More information: www.koreanair.com

SOURCE Boeing

MCLEAN, Va., Dec. 4, 2009 (GLOBE NEWSWIRE) -- Sonabank, a subsidiary of Southern National Bancorp of Virginia Inc. (Nasdaq: SONA) announced today that it has entered into an agreement with the Federal Deposit Insurance Corporation ("FDIC") to assume all of the deposits and certain assets of Greater Atlantic Bank ("Greater Atlantic"), a stock savings thrift headquartered in Reston, Virginia with branches in Front Royal, Newmarket, South Riding and Reston, Virginia and Rockville, Maryland. All Greater Atlantic offices will be open Saturday morning December 6th (except for Reston which does not have Saturday hours) as branches of Sonabank. All Greater Atlantic depositors will automatically become depositors of Sonabank and deposits will continue to be insured by the FDIC. With this acquisition Sonabank will now operate 14 retail banking offices, with 13 in Virginia and one in Maryland.

Depositors of Greater Atlantic can access their money by writing checks or using ATM or debit cards. Checks drawn on Greater Atlantic Bank will continue to be processed. Loan customers should continue to make their payments as usual. Customers of both banks should continue to bank as they normally do at their existing branches.

"We are delighted to welcome Greater Atlantic customers to Sonabank. Customers can be confident that their deposits are safe, secure and readily accessible. Clients will recognize familiar branch personnel from Greater Atlantic who will to take care of their banking needs," said Sonabank CEO Georgia Derrico.

Sonabank will be acquiring the assets and liabilities of Greater Atlantic at a $20 million discount and no premium on deposits. In this transaction, Sonabank will be receiving $179 million in deposits, $142 million in loans and $1.8 million in other real estate owned (OREO) from Greater Atlantic. The loans and OREO purchased are covered by a loss share agreement between the FDIC and Sonabank. Under such agreement, the FDIC has agreed to cover 80% of the losses on the disposition of the loans and the OREO up to $19 million and 95% of losses that exceed that amount. In addition, Sonabank will be purchasing cash and marketable securities of Greater American. This is the first FDIC resolution in the State of Virginia since 1993.

Sonabank will account for the Greater Atlantic transaction under the purchase method of accounting in accordance with Statement of Financial Accounting Standards No. 141 (revised 2007), Business Combinations ("FAS 141R"). Under FAS 141R, the assets acquired and the liabilities assumed will be recorded at their estimated fair values as of the December 5th, 2009 acquisition date.

Customers who have questions about the transaction can call the FDIC Call Center toll free at 1-800-830-6698. The phone number is operational this evening until 9:00 p.m. Eastern Daylight Time; on Saturday from 9:00 a.m. to 6:00 p.m. Eastern Daylight Time; on Sunday from noon to 6:00 p.m. Eastern Daylight Time and then thereafter from 8:00 a.m. to 8:00 p.m. Eastern Daylight Time. Information is also available from the FDIC's website at www.fdic.gov. In addition, they can visit their former Greater Atlantic Bank should they have questions about their banking relationship.

September 30, 2009 total assets of Southern National Bancorp of Virginia were $462.1 million. Southern National Bancorp of Virginia is traded on NASDAQ under the ticker symbol "SONA". Sonabank is the banking subsidiary of Southern National Bancorp of Virginia. Prior to the Greater Atlantic transaction, Sonabank operated 9 retail banking offices in McLean, Reston, Herndon, Warrenton (2), Leesburg (2), Charlottesville and Clifton Forge.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that relate to future events or the future performance of Southern National Bancorp of Virginia, Inc. Forward-looking statements are not guarantees of performance or results. These forward-looking statements are based on the current beliefs and expectations of the respective management of Southern National Bancorp and Sonabank and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond their respective control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed or implied in these forward-looking statements because of numerous possible uncertainties. Words like "may," "plan," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "predict," "estimate," "could," "should," "would," "will," and similar expressions, should be considered as identifying forward-looking statements, although other phrasing may be used. Such forward-looking statements involve risks and uncertainties and may not be realized due to a variety of factors. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in Southern National Bancorp's Annual Report on Form 10-K for the year ended December 31, 2008 and subsequent filings by Southern National Bancorp with the Securities and Exchange Commission. You should consider such factors and not place undue reliance on such forward-looking statements. Forward-looking statements speak only as of the date they are made. No obligation is undertaken by Southern National Bancorp to update such forward-looking statements to reflect events or circumstances occurring after such statements, unless otherwise required by law.

CONTACT:  Southern National Bancorp
          R. Roderick Porter, President
          202-464-1130 ext. 2406
          Fax: 202-464-1134
          www.sonabank.com

BOCA RATON, Fla.--(BUSINESS WIRE)-- Jeffrey S. Kahn, a shareholder in the Palm Beach County office of the international law firm Greenberg Traurig P.A., chaired the firm's 20th annual Employee Benefits Conference in Boca Raton on December 2nd. The conference was held in conjunction with the South Florida Compensation and Benefits Association. Greenberg Traurig shareholders Jeffrey S. Kahn, Steven B. Lapidus and Marvin A. Kirsner and of Counsel Brandon G. Feingold spoke.

Close to 100 CEOs, CFOs, HR Directors, employee benefit professionals, financial advisors, bankers, CPAs and attorneys gathered at the Renaissance Boca Raton Hotel to attend the conference. The agenda included topics such as year-end retirement planning, trends and developments in executive compensation, selling a private company to an ESOP, the problem with telecommuting employees, Roth IRAs and conversions for 2010, and challenges in health care management.

"We are pleased to host this conference annually to provide a unique forum for members of the business community and their professional advisors," said Kahn. "The presentations provided the audience with an awareness of the current trends and major issues in Employees Benefits and Executive Compensation that businesses are facing today."

Kahn focuses his practice on employee benefits, executive compensation and the design and implementation of Employee Stock Ownership Plans (ESOPs). A frequent lecturer and author, he has published articles in numerous professional and trade magazines and has lectured frequently before professional, charitable, financial and business audiences on ERISA, ESOPs, and other employee benefit subjects.

Lapidus is the Co-Chair of Greenberg Traurig's Global Benefits and Compensation Group and the Chair of the firm's Miami Tax Department. His practice emphasizes executive compensation, employee benefits and estate planning.

Kirsner has over 25 years of experience in complex issues surrounding state and local tax. He handles federal income tax, estate and gift tax, multi-state sales tax controversies and corporate income tax controversies at the audit, appeal and trial levels. He also has a great deal of experience with Internet, e-commerce and telecommunication tax and nexus issues. Kirsner is a frequent speaker and writer on various tax topics.

Feingold focuses his practice on employee benefits, executive compensation and taxation. He serves on several Florida Bar committees relating to employee benefits and has co-written articles about tax and retirement issues.

Greenberg Traurig's Global Benefits and Compensation Practice services clients ranging from closely held businesses to large multinational corporations around the world. To help clients with quality control and efficiency, we have developed an extensive set of models for the various executive compensation and employee benefit programs that can be customized to each client's needs.

About Greenberg Traurig, LLP

Greenberg Traurig is an international, full-service law firm with approximately 1,750 attorneys serving clients from more than 30 offices in the United States, Europe and Asia. The firm was Chambers and Partners' USA Law Firm of the Year in 2007 and among the Top 3 in the International Law Firm of the Year at the 2009 The Lawyer Awards. For more information on Greenberg Traurig, please visit www.gtlaw.com.

    Source: Greenberg Traurig, LLP

COPENHAGEN, Dec. 4 /PRNewswire/ -- This Monday, 7 December, the first day of the global climate summit (COP15), director Bjorn Lomborg of the Copenhagen Consensus Center will unveil two billboards in central Copenhagen designed to confront politicians and delegates with the message that the current approach to solving global warming is deeply flawed.

The billboards state:

TRYING TO CUT CO2 NOW ISN'T GOING TO WORK

There are better ways to FixTheClimate.com

Visitors to www.fixtheclimate.com will find the Center's proposal for a practical, effective alternative to the Kyoto approach.

Billboard locations:

The first billboard is being erected at Hojbro Plads, directly opposite the Danish parliament.

The second billboard is being erected at Ostersogade 32, a busy downtown Copenhagen street-corner.

The billboards will be erected between 8 and 9 AM on Monday the 7th of December.

The billboards will be supplemented by video advertisements on the Copenhagen metro (which delegates will use to reach COP15) and thousands of free postcards in bars, cafes and other spots throughout Copenhagen.

SOURCE Copenhagen Consensus Center

RIVERWOODS, Ill., Dec. 4 /PRNewswire/ -- Following passage by the House of Representatives on December 3, 2009 of the Permanent Estate Tax Relief for Families, Farmers, and Small Business Act of 2009, CCH has issued a Special Tax Briefing on its provisions which, if adopted by the Senate, will provide certainty for estate taxes and estate planning, largely by freezing the status quo as of this year. Read the Briefing at http://tax.cchgroup.com/Legislation/2009-Estate-Tax-Relief.pdf.

"The House bill provides for a $3.5 million estate tax exclusion with no portability, a top estate tax rate of 45 percent, a continuation of stepped-up basis and ratifies the permanent repeal of the state death tax credit," said CCH Senior Estate Planning Analyst Bruno Graziano, JD, MSA.

The measure moves on to the Senate, where the bill's lack of indexing for inflation may pose a difficulty, but many observers believe some kind of estate tax "fix" is imperative this year.

"Without some new legislation in place, 2010 would see the complete abolition of the estate tax - for that year alone - but also a move to a 'modified carryover basis' system for valuing inherited assets that could increase the income tax burden of beneficiaries and would be very difficult for executors and accountants to deal with," Graziano said.

The Briefing also details the impact of the House bill on the gift tax and generation-skipping transfer tax.

CCH Tax Briefings

To read the Briefing, visit http://tax.cchgroup.com/Legislation/2009-Estate-Tax-Relief.pdf. Timely, current analysis of this and other tax legislation can be found at CCH Tax Legislation Coverage (http://tax.cchgroup.com/Legislation/Briefings).

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. CCH is based in Riverwoods, Ill. Wolters Kluwer is a leading global information services and publishing company. Wolters Kluwer had 2008 annual revenues of euro 3.4 billion, employs approximately 20,000 people worldwide, and maintains operations in over 35 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit www.wolterskluwer.com for information about our market positions, customers, brands, and organization.

SOURCE CCH, a Wolters Kluwer business